Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-11-13

AA4e-4 AN4tt4
and expressions. seem q very many in-
stances u have been totally ,nisapPrshens
ded:-and II pan from the tro flsex
hoods, with which have been abundant
y honored BY tie party newspapers 81
the Administration and of l1le b hose
Of their allies.
The limits which pFopreiy and your
patience prescribe. wiz not permit me u
go ot very great length into this question,
i but trust, shah Be sufficiently explicif
70 prevent al future doubt a. niisappres
hension.
IheSub- TfeaSu y scheme contains two
Substantive propositions, 70 vii: that The
government shall collect Il. its reven1esins
gold and silver only. Secondly, thar
those revenues, when collected, shah Be-
kept N iron safes or treasure chests, by
officers appointed for that purpose BY tho
executive. Both these propositions ia.
volYe the most violent changes, IN the
long established practice Of the governs
ment, and must produce changes equally
violent in the financial syten Of the eoun-
try at large. Heretofore, convertible
bank paper, has been considered both By
ceiTed and paid as such and performing
all tie functions Of The precious metals, to
a much greater extent, than could have
been done By these cumbrous agents
] themselves. The government has no 9th
er use for money than the people: Il hasiisf
! officers to pay; SO has an individual his Ia
boTerss-it builds, mans and yiefuals is
} lnavy--so does the merchant his ships.
The same kind Ct currency which viii
answer ID the one ease-wiIl answer Is
the other. In theuse Of money the gov.
I eminent stands in the same attitude as q
private individual. Why then should i
e desire in the transaction Of It's business, a
/ different currency from that which the
/. people require in the transaction Of theirsf
Either the system of convertible bank pa
] per is vicious, or the government ought
not 10 refuse its cooperation in sustaining
: Il. 1t is true, the advocates Of the Sub
e Treasury assert that gold and silver cons
!. pose the only constitutional currency
Q That they are the only constitutional Staas
c lard or measure ofcurrency, no one viii
deny;--but this is as much the case with
e the people as with the governments the
le 0AA0 - % AVuIQ Oy btAto al14l4AAH -
the other: either has the right to demand
It It inpayment of all debts. The people,
N however, have had the wisdom to perceive
p that the demand IN every instance, Of The
4. constitutional standard or measure Of mo-,
le lney, IN other words, pure metallic cur
b rency, would be ruinous to their enterprise
+ and paFalieing to their efforts for the de-
a velopement Of the resources Of this great.
j. nation. Il would be making many strides
is backwards in the path of Improvement. L
b would be taking barbaFous and not ciYils
Il lied nations for our models. No one,
] now pretends, that the people have erred
y IN their uniform adoption Of convertible
s. hank paper instead Of pure metallic cur.
:. rency unless # be occasionally some half
d crazed radical, some political Mormonite
5. whose whole soul has become wrapped
ie lup ii his golden bible, and who looks up-,
d on return 10 an exclusive metal lic cuf1en- $,
J. ey as the financial millennium. Hthenlhs
people have acted wisely in departing, e
ie you please, from a specie currency and
.. awaiting themselves Of a eheapeFs
Is more convenient and far more capa-
s. bic substitute, why / ask again should the
6. government refuse 10 follow their exam.
b. plel / speak not now Of the keeping Of
y the public revenues when collected, but
in the kind of money in which they shall Be-
H. collected. The mode of keeping cons.i.
d tutes another branch Of the subject Il 81
is said, that the collection ofilie revenues IN
n the ordinary bank paper of the country
a. would be an interference with he c1rrens,
en- cy; that the government has no consiiins
e. tional power to operate on this subject
ut except its coming power; and that 81 the
ee collection Of the revenues IN gold and 81
ed yer alone, all Interference viii be avoideds
e. Now It seems to me that the collection
he of the revenues 10 gold and silver Acne
ne is the most violent interference bdss
ID, with the currency, TO wit: The converts
is bic bank paper, which Is admitted "a 81
Sc hands il is both the wish ard the ihitfe
10 Of the people to use it il the transaction
ed of their business. The business ST tie
'ds government in the collection and disburs
e. ment ofiis revenues IS intimately CON
lse nected with the business q she people; i
re- IS impossible 70 separate them. The use
BIS by the government Of the convertible bank
be paper which the people Of the country
'ty have universally adopted al considered
IS as money iss1Fely 8 much less idlelief-
ay ence with the currency. than 4 doged de-
nand for The very basis and aubslrasun
upon which that currency rests Ihea
be p0cates Of the Sub treasury 56 opeFn
meni has nothing to do with The cuIIeDea
IS All IS unconstitutional lof them b ned
% dc with it, cxcept ~ regulation % CEN.
be j vet Il seems Is memo scheme could 81