Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-01-20
richmond, saturday, Jan. 20.
ELL before tic Senate IF the U. States,
t.r,ILn 49, l. L. IL II,nr. nf Dill

Jbv Mr. Wright, from the Committee Finance, is
~, orr last page MIR. Edmunds' Resolutions appear in
the Journal OF the House Of Delegates OF Thursday last
rh, sniri, OF these Resolutions warmly and elo
Il r,nly supported BY Mr. J S. HatkinS If Gooeh@nd-
rbe frs, had reached this City before the las, pre-
seated to the House aud presume. the mover saw
y, GOOD cause in the movement in Washington, 10 stay
his further proceedings here. And why should it:-
Are not the Resolutions better than The Bill Are they
10, couched in finer spirit OF conciliation: And are
they not better adapted to the force Of circumstances
an better calculated 10 promote the great interests OF
our country For one, we Go not hesitate to declare
J, our decided preference for the Resolutions
!, We have examined the present Sub Treasury BILL
II is stronger than the bill of the Extra Ses-
SION In spreading MIR. Calhonns principle over sir
wears instead of fur il s SO far mder in easing OFT
the Banks. In permitting payments at Washington and
issuing certificates to be received for the public lands, 1t
soIiens the acquisitions of the Specie Crcu!ar-But II
; embraces the feature of RctirerS General, which
not found in the former bill. This is important in
novation in system Of finance 1t introduces new
class of officers for preserving the customs distinct from
the officers Of collection. We fear this would be only
the entering wedge 1t is the mustard seed, as Mr..
Rves called the former BILL 1t has already expanded
from Collectors 10 Recciversand who shall say, that
it shall further expand from four Receivers to ~ or
SOP In fact, who shall stop the Augmentation OF Tax.
receivers under the administration of some future anu
bilious PRESIDENT If Boston and n York, and Charles
ton and St. Louis are be honored with Receiver.
General why may no, Philadelphia, aud Baltimore, and
Portland and other commercial towns claim at no dis
tant day similar distinction This bill also provides
for similar set of Bank Commissioners ,o!ravelthrough
tie country inspect the condition of the Banks which
the former Bill directed to be appointed
After this comparative View of The two bills, why
should We add that could not support the first,
cannot, Of course, support The last Must we over
the ground took betore' Must We enumerate the OBJ
jsc,lons, with which have so frequently bored the
public:
This bill increases the Executive pntronnge-by the
appointment Of Receivers. General, Bank Missionaries,
by placing the public funds more Immediately under
troll nj Ofii ulpl lv auur
liz President.
!, makes those funds more insecure than they would
be- in The Banks subject TO the draft of the Treasurer OF
the IT, s., with all the checks Of The Treasury Depart
ment.
1t distinguishes the money Of the country, from that
Of the Government by refusing, after the expiration OF
six years, to receive anything but hard money or 60.
vtrnment paper-Ihis system hos been frequently oh.
jected to-and lately in letter, published week ago
in Augusta, from the pen Of P King, the Elk Senator
Of Georgia, from which make the following extract:
al, is almost amusing 10 how indusriously the ad
voca!es Of this scheme looking out for precedens-
Having encouraged US by an introduction to ancient
Rome, under her QuGstors-,o Spain, Turkey, and to
France under Napoean, see now led into Ger
many, and especially ccommen Ged 10 of those du
cal states, forming The Confederacy of the Rhine
1t is true, they have in Spain, Turkey &c. as well as
Germany, something like the suo.treasury, ard-money
system and they have also other sub services and
many other hard things that shall be introduced
into America, If can help it, readily agree, too. with
those who the fact that this system may work bet
Ter and easier in the little states Of Germany, than any
where else. 1t has been wtly remarked OF one OF
these ducal soveeigns that when his highness shook his
wig, he powdered his whole kingdom; and as for his
maestys treasury, presume he might very convent
emily keep in his own brceches pocket and dsburSe
i! with his own royal hand.
"lf could have patience 10 associate young and
vigorous country, marching with giants stride 10 the
highest destiny of nations, with the desposm, misery
and poverty Of those, whom called OH 10 initiate,
would probably dwell longer analogy. AS it is,
will do little than add, that Of these sub.
treasury, haId-money governments, great or small are
troubled with any surplus and by the aid of pen
sons Salaries snecures, military dsburse interest
national debt, &c &c. the whole Of the receipts
generally discussed at the points where collected, and
little is len to be transmitted to the national exche4us
will further add that France and England two Of the
most free and commercial nations OF Europe afford no
precedent for the measure in question In France, bills
OF the Bank of France received and dsbused by the
government officers, and know Of penal restriction
upon the exercise Of this discretion. And as 10 Eng
land she goes, perhaps, metng further in the of
bank paper than ever have They receive in pay
ment Of taxes, bills CT the joint stock banks, private
banks, bank Of Eng land md the banks of Scotland
through The agency Of nks;lransrn all balances to the
national exchequer at London, and there certificate Of
deposit in the bank of England becomes legal tender
in government transactions.
81 will not dwell longer this branch Of the hec
1t was lately remarked, with TRUTH by that able, patriotic
and consistent patriarch Of the democracy, Albert Gal
latin, that nation, ancient MODERN free despotic
has ever adopted proposed system, similar to that
n queson-tha IS, no government has ever proposed
10 collect and disbuse lis revenue in currency differ
ent from that in common and practical use among the
people. The collection OF no other could be pract
caly enforced without great sacrifice and nconve.
nence, and consequently it has before been al
tempted under the sanction of regular system In all
Ike hardmonry governments referred 10, hard money
has been the common and only currency-the people
cere hard money in their transactions, and there.
FORE prepared pay in that currency if they able
lopay at all. In connection with this position, the cap
,ious inquiry, if the government should be compelled
10 take in paSterS, because the people take them de-
serves no attention whatever. All vii! answer No. The
present condition Of the currency is temporary and
,raordnary brought by extraordinary causes. 1t
better, therefore, to suffer temporary Inconvenience
than encourage evil and the risk Of perpeua,ing
Il In wisely submitting TO this Inconvenience, how.
ever: we lind the very principle illustrated. We have
seventy eighty millions of specie in the county
l"o, some say three millions, only necessary for
spec" collection and disbursement OF the Yet
Tie Sab-lreasury scheme has been in full practical ope
ration Tor nine months, and what have been enabled
10 collect under it, 1mportalons have nearly stopped,
payments OF Government dues have nearly stopped and
uu' nF temporary credit expedcnts, TO enable to
lrcI his paper CURRENCY The Gorernment 7o0uid haze
Ppea a'SO And yet, any less gifted genius dares TO
''ke p!aln common view Of this subject he is
put Gown as the Impairment author of ga rabbe Of OBJ
ecHons, too insignificant 10 be noticed by the fantas.
". .ppu"ceGings OF n great mind, which, for want of
"oiny antagonists, IS perpctuaiy at 1car 1cM ITSELF
Nv. We nave neither time, space, and may almost
%u' "HTt'nut'on o1 urging further objections 10 the
M, T., "'"h, respectfully but hrnly, that 1t ought
,mr S P'ss-and we can scarcely believe, that there is
any lear OF its success
1eso;p prefer infinitely the scheme suggested by the
n s";e Of Mr. Edmonds are Conceived in
nb;ne p,'' concIlaon-Thcy do away with the ma
with ali ,b esses General and travelling Inspectors,
s,orn rsn;; es, and Sub.Treasurv Dep0ts with the
s,Ssn sequson for Specie only alter six years &C.
the friends nj inc Srsat basis Of compromise on which
With taIs few as Administration prepared to meet
The support of decided majority % vi pr ps0Saoy receive
in the Gene;a ASSEMBLE o. ,he
,s State BanHs ousns Way TINT
poses of the Federal Government on r s%e 'stai pur
thp and