Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-04-05

nc money nj ~. Louis shali he paid q salary
Of two Thousand I've LuHdred doilArs per an.
NUN.
MIR. CALHOUN AND TIE SCD.TREA-
! SCRY BILL.
| SsbstsEee OF Nr. Calhoun Speech. in o.
position To the Sub-Tressury Bill, ~ Il ps.scs.
the Senate.
Mr.. Calhoun rose and spoke very
earnestly IN opposition 10 tie bill. lie
denounced IL rs a bill TO renew and &C.
mcni the union between The Banks and
The Government ia itsInoS, odious form,
instead Of egecling a separation. In.
stead Of establishing IN Indepen dent
Treasury, the ball. he said, would give
The banks complete sseendcncy over
the Government aud The Treasury. A
more beneficial bill for the banking
system. as a whole, could not be dc,Is.
ed. Suppose you lock ~ the Bank
notes in your safes and vaults. will no,
The Banks supply the vacuum thereby
made IN bank circulation : They will
IN effect be enabled To discount D, large.
~ as ever on your deposiies. The blll
retives,he Opposite Bank system in its
worst form. ii would. after the banks
resumed specie payment, carry the Go.
vernment back exactly 10 the point
"here they were before the suspens sion
OF specie paymen;s in May last; with
this exception. that the Executive
would be prevented by il from making
any discrimination in the funds recciv.
able for Government dues. In thin re =.
speet the bill was more favorable 10 the
Banks than The Joint Resolution OF
1916. Was this 10 be the end Of all the
excitement and oil the laboTious discus.
sions on this subject; A broader farce
was never before enacted. Senators
could not let the matter rest here. The
people would not he conien, with such
a blA as this. He implored them TO re b.
Ject 1t, insisting that il would be Ten
thousand times better 10 do nothing
than 10 pass II. II would give the
banks complete triumph, and be pro.
duetive of infinite mischief The sub.
Ject could not. however, rest here
Gentlemen might be assured, as he had
SAID before. that there was a strong cur.
rent Of opinion setting against tho bank
ing system; that il Vas on its cruiehes
here, and in England also, and mus,
soon be oyeTthrown."
VIEWS ON TUE SUB-TREAsCRY BILL.
The Globe regrets the amendments
that were made 10 the bill. but is will.
ing to take 1t as it is. ia hopes, ulu.
msiely, Of doing moro.
The National In,slIi:eneer ssys:-
In every view we can take oft, the
effect Of the passage Of such a bill will
be to create a sort Of wen upon The bo-
dy polite, 10 absorb. for the support Of
q useless excrescence, portion Of the
body's healthful fluids. The IDEA OF
Tesoriing 10 iron chests and vaults, for
The Saiekeeping OF bank notes (promises
OF banks 10 pay because the banks
themselves are not TO be trusted, is too
amusing TO be treated seriously. 1,
will be about as terrifying to the banks
themselves as the honest Hibernian'.
threat TO brelk bank which he had a
spite against. by burning all its note,
he could get hold Of Second only in
brilIianey to this idea is that Of punish.
ing the banks by locking up their note,
m iron safes and stone vaults. 10 keen
them oOt Of circula'ionl
Upon the whole, we incline IN
think that majority Of the House will
admit as we do, that Mr. CAlhoun's de.
seriptlon Of the oil in its present form
iseniirely just. anil that the bill, thee.
fore. ought not TO pass into a law.
Some years ago arumor having got
abroad that the bink OF Glasgow was
"a danger Of breaking. an old shop.
keeper " ho had a small sum on demo.
site hasteEed n the Bank 10 draw M,
money out. TIE Teller counted out
the amount in the notes Of the Bank
which the old fellow carefully deposit.
ed IN his brooches pocket and bu,ioned
up-iben, slspPing his hand on IL, said
MOO. dom ye! brlk as soon as We
please"
IIde the Sub Treasury bill. (wi,h
its iron safes Tor locking up The notes oI
we Banks which Uncle Sam dare moi
trust Tor penny Tor similar instance
Of wi4e caution.
Tbs MSd.sonian ,ay..-
"A more ouilandish, iil.adapied
and arbitrary mrasute could no, have
been devised. IL is destitute 81 ever,
attribute that ought 10 commend IL {,
The aeeePiaiion Of a republican people
and has no more reference 10 the want,
OF THIS country than an order rom M,
/ Anloerai Of al the Russias. II Invest
he Executive. IN conjunction with
me powers DO already posseses. viii
the complete attributes Of monarch
viz; ;he execution Of the lave, the man.
sgemeni Of he revenue. add the com.
I mand % fha army.