Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-08-28

possibly be-that the men at the head OF the
nation are seriously bent upon this mad pro-
jeci2 This, we venture to guess, is qucs
ton which ma rty,-eycn of the Van Bu-
rem men, who have thought about the subject
have been ready to ask. IF the language,
which the administration men and presses have
all along used in regard 10 banks, be consider |
ed as at all expressing their real views, one
might indeed doubt the very things which we
now see with our own eyes. We look, how
ever, upon The bank wal only an entering
,cedge 10 prepare the way for this scheme =
the U. S. bank being destroyed there VIVA al
once created necessity for some other thing
10 supply It's place; and what shall that other
thing be Not state banks, say the admins.
traon, for that experiment has failed. " hat
lhen2 Why, TO use the language Of Senator
Wright, resort "to the get untried experiment"
deposit the revenue in the hands of citizens
us such, and not ms bark corporators give
1t to the Keeping Of officer, appointed for the
purpose by The President. This is the scheme
now starred by the administration men, and
the ONLY ONE. If we regard this scheme
| in its true character-as scheme 10 cheat
Congress of IFS righful control over the Ma
| tonal Treasnry-to increos the po,cer oil the
President--to add 10 the number Of office -hol.
ders-to increase the expenditures of the gov
eminent, and at the same lime the hazards of
oss-to open the way to bring the power Of the
| Il. =. Al ~ A
Of elections-and finally 10 subject the coun-
try to witness its total failure in another day
Of desoaion and ruin which it would speedily
bling abon, or its complete success in elcva.
ting the Executive above every other power
we say, if we regard the scheme in this light,
we must either doubt whether such scheme
is actually seriously thought oi-or we must
wonder tina! public men can be found, who are
fool-hardy enough and unwise enough TO at
tempt to carry it into execution. But doubling
is entirely out Of the question. It is put out
of the question, and completely SO, by the sim
pie fact that such schemo-so mons'rous, 20
unwise, SO ruinors as it must be in the conse.
quencos which will inevitably follow It's adop-
ton is already proposed. Senator Wright,
Andrew Jackson, s. the Globe, are commitle ed
TO this plan; and General Jackson goes so
very far as TO claim it as the plan on which
the democratic presses and party were uniting
even in Jolly last If this is not an indca-
ton sufficiently strong of the course 10 be pur-
sued by the administration, let The reader note
the following semi official announcement from
the Richmond (Va.( Enquirer:
ave understand, that the substitution Of
the State Bank system, by the sub Treasur,
system, may be brought forward by Mr. Var
Buren, in his Message-and that it will be sup
ported by some of his friends, in and out 0
Congress by how many and what are tn,
chances Of its success, it is of course impos
sible for us to say. We will not even exercise
the YankeGs privilege 1--WE mean not the slight
est disrespect) of guessing"
Nor is this all: in Virginia, the scheme i
oono;detvj not as u namory, Dut a reaIty )
and already the note of icar against il is SCUM
died. even in the administration camp: tn
= plan is already under discussions aud Senate
RIVES enters the field against il. He Ina
published an able article in the Enquirer 1
Gougc and Wright are thus summed up in tn
Baltimore Patriot:
LIST. The fact that Banking is so deeply roo
ed into our system that it will be difficult
: get rid Of il for many years.
I'd. Such system will be hostile 10 the Sta,
Institutions.
Sd. The public money will be unsafe. Z,
perience has proved that the public depositt
are safer in Banks than in the hands Of ind
- vlduals.
4lh. 1t virtually surrenders the PURSE 10 II
Executive. All these Treasury agents W
hold their places at the discretion of the Exc
utive.
5th 1t will enlarge the patronage of d
: Federal Government
9Th The difficulty danger, and expense
transportation
7h. The great inconv enience to which
will subject the public debtors. 1t is an anoI
- ally in the history of Government TO see it d
mand specie, when different currency is pr
vided for the people at large.
Sth. HWW result in an increased demand
. A NATIONAL BANK, and secure its estabIs
the ment.
the Again, the New York Evening Post Of A
cit, gust 10, Van Buren, paper, in speaking
the new paper at Washington, says;
alt 1.-THE Madisonian) opposes the WEI
emf KNOWN POLICY of the administration a
-, its friends to gather in and pay out the req,
'eE ues Of the nation without the agency of inc
ngs pOrated eompaniss-a policy which it 1.-THE MI
isonian) denounces likely TO increase
expense and difficulty, the patronage of
-er- Executive, and the dangers of defalcations'
act With such an amount OF evidence before