The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-01-23
Ernm The Richmnn6 EnnlLirf,

BILL before the Senate OF the United States, and
RESOLUTIONS before the House of Delegates
We have scarcely time TO put pen TO paper; yet
we cannot reconcile il to our sense OF duty TO lay
these important documents before our readers, with
out some note or comment The new Sub-treasury
bill, presented by Mr.. Wright, from The Committee
on Finance, is on our last page MIR, Edmonds Reso-
buttons appear in the Journal of the House of Dele
gates of Thursday last The spirit Of these Reso-
lutions was warmly and eloqnently supported by
Mr.. j. S. Watkins, Of GoochLaad The first had
reached this city before the last were presented TO
the House-and wepresume, the mover saw no good
cause in the movement in Washington, to stay his
further proceedings here. And why should i'll Are
not the Resolutions better than the Bl2 Are they
not couched in finer spirit of concliation2 And
are they not better adapted TO The force of circum
stances-and better calculated to promote the great
interests of our country For one, we do not hest
tate declare our decided preference for the Reso
lntions.
We have examined the present Sub-reaSury Bill
II is stronger measure than the bill of the Extra
Session. In spreading Mr. Calhoun's principle
years instead OF fonr it is so far mildcr in easing
off the banks. In permitting payments at Washing
ton and issuing certificates TO be received for the
public lands it sofens the acquisitions of the Specie
Circular. But, it embraces the feature of Receivers
General which was not found in the former bill.
This is an important innovation in our system OF
finance IL introduces new class OF officers, for
preserving the customs distinct from the officers of
collections. We fear this would be only the entering
wedge. 1t is the mustard seed, as Mr. Rives called
the former bill. II has already expanded from Col
lectors TO ReceyerS-and who shall say, that il shall
not further expand from four Receivers to twenty
fflyl In fact, who shall stop the augmentation OF
Tax-recevers, under the administration OF some
future ambitious President II Boston and New
York and Charleston and st. Louis are 10 be honor
ed with Receiver General why may not Phiiadel-
phia, and Baltimore, and other commercial towns
claim at no distant day similar distinctions This
bill also provides for a similar set OF Bank Commls
sioners TO travel through the country 10 inspect the
pnffh ,Uhip oh he n
ed to be appointed.
After this comparative view OF the two bills, why
should add, that as we could not support the first,
we cannot of course, support the last Must we go
over the ground we took before Must we enume-
rate the objections with which we have so frequently
bored the publicl
This bill increases the Executive patronage-by
the appointment of Receivers General Bank Mis-
sionaries and by placing the public funds more i'm
mediately under the control Of officers appointed by
and removable by the President.
Il makes those funds more insecure than they
would be in the banks, subject to the draft Of the
Treasurer OF the United States, with all the checks
ofthe Treasury Department.
II distinguishes the money of the country, from
that Of the Government BY refusing, after the expi-
ration of six years, 10 receive any thing but hard
money or Government paper. This system has
been frequently objected to-and lately in letter,
published week ago in Augusta, from the pen OF J.
p King, the Ex-senator OF Georgia, from which we
make the following extract
II is almost amusing TO see now industrlouSly the
advocates Of this scheme are looking out for prece-
dents. Having encouraged us by an introduction TO
ancient Rome, under her Qu@StorS--to SPAIN 1ur-
kew and to France under Napoean, | see we are
now led into Germany, and especially recommended
to some of those ducal states once forming the con-
federacy of the Rhine. 1t is true, they have in
Spain, Turkey &C.. as well as Germany, something
like the Sub-treaSuTy, hardmoney system; and they
have also some other ab-services and many other
hard things that shall never be introduced into
I Ican halp |
those who state the fact, that this system may work
better and easier in the little states OF Germany, than
any where else II has been Witty remarked OF one
of these ducal sovereigns, that when his hghness
shook his wig, he powdered his whole kingdom
and as for his maestys treasury, lpresume he might
very conveniently keep il in his own breeches pocket
and disburse il with his own royal hand.
III could have patience TO associate our young
and vigorous country, marching with giants stride
to the highest destiny of nations, with the deSpoSn
misery and poverty Of those, whom we are called on
to initiate Iwoudprobaby dwell longer on analogy
As il is will do little than add, that none Oh
these Sub-treasury, hard-money governments, gig.
or small, ever troubled with any surplus ana "
the aid Of pensions salaries Sinecures, mil'aiy US
bursements, interest national DEBT, &c. &C. .he
whole of the receipts are generally dlsouiSGa 2. .e
points where collected, and little IS iell 70 DC rams
mitted TO the national exchequer. ! VIII lurther
add that France and England, two OF The most Tree
and commercial nations of Europe, afford no pre-
cedent for the measure IN question In FRANCE
bills Of the Bank Of France are received ana as
bursed BY the Government officers, aud know OF no
penal restriction upon the exercise of this discretion
And as TO England, she goes perhaps something
further in the use Of bank paper, than we ever
have. They receive in payment of taxes, bills OF
the joint stock banks, private banks, bank OF Eng
land and the banks OF Scotland through the agency
Of banks transmit all balances to the national exche-
quer at London, and there certificate OF deposlte
in the bank of England, becomes legal tender in
Government transactions.