Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-04-28
141ED,S 4EeoClo Speee0
m SUBITREASURY BILL;
~ asvRa4D MARCH -, 1888.

%Xm RUB SUU@THkASU8X 0111s
eaavRaED MARCH ~, 1883.
CONTINUED.
=. pr;aues, N sstirs metallic currenc
VI sespsily create banks Immediately
~sDAs :osey ee Kept o. nov Gco'o
k< e!s;1 ID. ;syhe;r daily walks
~ e. ~ behind them, with beg
5..iiees n s'Iyss On their wbec'-barrow.
~ = sycas soeUgh 70 imagine this1
~. ~ ~ baak motto, nor bank il
.ssv. ~ n shsss should be an exclusive
-,sc.ev eomsssow morning At nine o
- vsuu - ffiy hanks before sunset
~. s.ss,,;av. ahsss would be created at onc'
( Irc;os: asd pessoes having money il
~ 49, would draw checks for il, ant
=. ~ 1919 - asoaey, and fsop one hans
~ CusN psss - another; o. the dcPos'fsr.
- vssjd issss certificates Of dePosise, end
80 y - oose than Just u carry rs back two
k,.deed ysasu 10 the iofancy Of banks
N 49, have doee soibiag but reject the
f,.ee of ne usost civilized nations, fol
2Aeueies. - veil - I'll our own experience
- returned 70 tho rude conceptions Of for
-S.a These certificates Of deposite would
~ E..d 10 b o(iea issued without any SOL
a~e;ol q seeual depnsiie. Abuses arising
.eesree vosN call for legislative inter-
-. ia he legislature would find it necessary
100 he issue Of paper intended for c'rcu-
~ 81 sssetiag that such issues should Only
S-h @ shc stsensah u CON. 'cscnt c'piial,
.sa-aSv ,s,v;ded aad assigned, placed under
- sscsa.;os, and managed b. persons res
ss.aisnAs laws. And THIS would bring n' a
rn0e1v = lhs state Of things in which We
~ ~ 20 1ts say, to the use Of the paper
~ $1,000, regulated, and controlled by
- r. ~ nan time, before this process could
= aas5 ilsssgh, half tho community would be
- 6n0kupt, by tho run Of their business,
- y - violeat aad revolutionary changes Of
pupogg vkica the process. would create. The
~ esss e debtors, oil that live more by in-
~ dLss on capital, would be overwhelmed
G1sskssinguishsd dcssructi"n.
Jlsse will then, sir, DO NO such thing OK
duivs nsealic currency. Tho country will not
bfity e the folly IL attempting it.
fohssA have felt that had occupied too much
- With such senselcss and PreP"stesons sug-
-, wero il not the manifest object Of parts
= = psoss such actions upon tho attcntiOa Of
bpooplo, ia aid Of war against the banks.
We shall then, sir, have poPcr Of some sort,
49, psst 81 eur currency. What will that
- ST Tho honorable gcntlcmsnn from 8. !
csik.a, admitting that paper Is accessory - |
~ 10 currency, or circulation. has c0nicndcd
- ~ papcr ought to DO government paper
paper, not convertible nor redeem
"a ssb % Gar, ~ being rccciv able for debts
n 6s~ - the government My colleague has
n1n0esUd TO satisfy the Senate, that the aim Of
, wbsls system, Of which he regards this bill
Dlss part, Is to establish . circulation Of gov
uneet papce and a gov esnment bank. Other /
n6Dmcn have taken tho samc view oft. But,
~ bill itself docs not profess any such purpose
y willing Ia discuss il in tho character in
- il presents itself take it for what its
~ say il is-a bill making further provision
relIecting the revenues.
u ere then, sir, still to have paper as a gon-
nedium of circulation; that paper is TO bs
~ fiom these tanks, altogether. II IS not to
= II fusds in them. ~ heretofore. II is to :
~ ssshiag to do with them, but is 10 collect :
16lAsne iss revenues by its own means, and |.
J0NeeiPs Of the notes Of spccic-payiag banks :
= y pastially allowed for some time, but il is
y gradually discontinued; and six years hence
60 70 arrive ut the maturity and the perfec-
} e The system When that suspicious day
- gsvesamcat is to receive and p1y out gold J,
silsss, end aoshiag bat gold and silver.
~, Mr. Pres;dees, lei us anticipate this JOY :
sPeeh; 10 ~ suppose the six years to have g
49, - SxuoO V0o9 OoUU, WIN btS 0p0.
p.y0saes sal Ill, 70 30 IN full operation NJ =
pssseas hosr. What will that operation be =
- 1ss pises, dissegasdiss all question Of !. J.
We esovesencs, o. the general interests Of =. -
psoeSs, Asw will this system work Is mere
= q collecting and paying out ssvenues g
= sseesPss and expenditures may be est;- Ga 8.
~ eoeh, as thirty millions voar. Those -
osek se0 estimate too high or too low, may g
lsAs eseessasy allowance. Here, then, Is
- - thirty millions 10 no collected and CT
ct every year; asl IL is all to be couuts d. en-
- sOd over, dollar after doiiar, and gold CT
= cnse geld piece; and bow many tiases Ia
0 Lea - Esquire iaso that. Tho i'm de
o.Aaas, whsss ship has arrived, add IN
$500 discs - pay, goes TO the bank fsr TO
odd The teller counts il Out: this 10 10
- easssoo q 70 the cusaosn-h house, PAYS il. pa
esests eouet is over: that - twice b
aye Afterwards, The collector takes il out 70
seee go chests, carries il 70 the rsceiv- pr
1essIS once, and there il 10 counted again. ~
psssed iato The bags asd chests Of that Of: fro
Aas = tho third time. Presentlv = v.r- in
esooo Sfom The TreasuTy, IN favor Of some lal
Aag e(6ces, and the boxes are opeaed. and pa
DoeosDasy sums counted cut: this 10 ,he oh BY
-. AID, ffthly and lastly, he disaur,;.0 ID,
Reays il 70 he Psrsoa entitled 10 receive Il. Gu
loh1ess, o. fos pensions, salaries, q oshee 20
= Thirty @illioas Of hard moaey are tAus thi
lao1lsd and told over Eve times in the I I
~ - yearf sad 6shere 30 transfers from ~
paoee, thea, q courss, IL - to be csuated DE-
- sAsoss. Governmses olIicers, there III