Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-02-12

parcaliou Of the Banking system, aud TO the resora
,ion Of = sonnd, s'.be and uniform eurrency-how
can they oppose a man who IS pledged i"snsta'n H.
aud support another who is pledged 10 oppose every
obstacle To it, adoption Ii the Van Buren, oppo-
nents nt The Sub Treasury scheme believe, AZ they
81, they do aud most a.suredly do, that, az H.
naflciai measure I, introduces most odons dsrriin-
nation between the Government and the People,
coguizinC two cnrrencies,-a better and baser spr
one of specie and the other OF paper-lhe later
diseredited and deprecated by the exclusive recrp
ton OF the lormef-n the payment of government
dues. while II i, the only circulating medium known
to the great body Of the peopIe-and that as poi-
cal measure it Is perons 10 the Rights "i the States
and to the liberties Of the people by constituting the
general government banker Ge8tral for the nntion
and placing thai immense nnneycd engine in the
elusive custody ani under the sole control OF the
Presdcn,-wc say if these belle, ed BY the Con
scfsat,sss 10 be the climate icnleucir, Of the Sub
Treaany scheme, they cannot longer coalescc with
the party, with whom that scheme ii Evorc
sure, without snlI"cting their motives 10 the most
d-paraelns mpntat'on.. again repeat, then, that
tins question is bceomeilc line OF dIyi,on between
the Two great p,rtics-and uoi few will wake up,
some morning. sterlin. Democrats, who went TO bed
" Federal Bauk Whss;" and rice rtrsd, many men
will lie down Democrats, aud rise up the nc>l
Mug Bank Aristocrars. Il needs OIL, bull from
Pope Martin, promul. gated through the Globe, u
dye the first class in III, wool, aud To extract from
the latter the Dcnoc,aiic colotin. which has here
toorc gwen them caste with that nlisu,med parry
" Roy"lt'ts" being their appropromiue cog
am exceedingly ansio.s to Mr.. Calhoun's
promised attempt Ia show that the Sub-'fre,suty
scheme will reda~e Execntis" power ald patronage.
see, by the Bill ,e that. III addition the four RI
ceiser> General the appointment ol whom auihori-
zcd by the 9th sectiou the Secretary olthc Ttcas,r-
~ is authorized. by the 18th secrion, 10 appoint
special agents. the number Il" hon. as " ell as heir
compensation, IL left To the. discretion Of that off
Ger 10 eAltn,ncino " less frequently ,ln once u, cac
yea" the books. aer"mn,~. and mornv on hand o,
the several jcpo-iioIics aud by The Is,h -crtinu
the fiscal agents Of The ."vrr,,nr. at are aiIpwr, anv
necessary additional cHprnsr~ Tor clerks. fire ,rr,,oi
chests OF vaults, or o',rr necessary expenses al safe
keeping, transferring aud di,bur.n." the rr,s,i,r t,-
nr,s w.e, III certain c,scS even Banks are 10 h..
employed Spccial Repositories, il they will cor
seuf, presume nom. HIM III ,o to the rrra-
proposed BY the bill in question. Does tbs hook
like dinlnnon oi Executive p,tr,na,c dls I'D
pontmcnt oi Receiver. General, Special t-cntS
and Clerks 1t VIII certainly puzzle even Nh Cd
houn, tlInk, 10 sho" M "lai manner iarl r,,>e
III Federal nlioeis can Ell ~, dcerc,sc of F,.lcr,l
Pir"na:" And ii -honil never be forgotru sv
tic that tins !. but the beginning Of this .rcn
,chemr-'lr tnunfaI nonly. it were, OF an in
mtu- tIErfr h.i, tl,opsb ,,y >iutb ultimately ia
supply the c''rtE'9 ~ the '""ntry. od perhaps
b, b5.s> ot dt.rut, we'll ~ at ,epo-- and
circnla,on. pr'fp,.-iy Jire.rr,s at oIa,p,
ratur" and careful, shaped WIN ,,,frc nrc
Blu let this pn,puse b. cdrrIrt-y-r 81 -. :,
foot hold upon our soii--am! one by onr new f,,-
Will BE- cnr,aitc upon tbs system until irw,ir
hccoua. to all Iutcnts AID pnrpo>r,. \ TREASURY
BANk, with capital r,s.,! only by the resources
and the credit of the federal government ,li nor 81,
Is alliance will, but under the cole a, -x-ln,iyr
control Of The President himscfi FcIrnl and 4.
larnn. pictures have been drawn Of the formidable
power Of .N0tona brink, mraved asaius, the Exec
utIvc-l;nt il that instiiurion 50 powerful when
III opposition, what viii 4 Treasury Bank be hen
in connection with aud controlled by the Federal
ENeeuusc' Who answer tie enquiry re-.
c-lccted to ha,r il answered some wear, aro by
the Globe. when the PEI l;ank system wa. Cen lack
sons trorllc, ard ~hrn the Sub. Treasury Scheme.
thcn remotely hintr,l N by >oue Of the Oppo.rion.
WAS denounced. among other rcaSons because pla-
crd the Money power III the hand, of The Pre- >dcnt,
cllnsr. however. has me the spirit oi tn.
Globe faction, >ince that u,- and it now regards
this then arsroeratical proposition rerg Deao-
rratic mcGsRtt, aud reads ,i the church, with in
imlablc fann tto'd, all those who borro. its old ar
garments a>saIl : policy
Yesterday. Nv" SETS ei RESOLUTIONS nrr- offered
III the State Senate this subject, both Of Which
presume youmi see IN III. public prints -o,Ie by
Mr.. Ellis .f Aeconlac, and the other by Mr. Smith
OF the Sub Treasury scheme. Dnrrin. as these
gcihlcmcn do. however. in rrllon to the Currruc,
question: they agree II seems, considerable cx-
tent, on question of Stat" pncy, of considerable
ma .nii lul, and one which seem, TO mr. 10 be wor
III, OF public consideration. II is the creation o,
State Bank 10 he founded the resources of tho
Connnonw alone, the fliil Of which j, IN H..
pied. for the redemption OF all its ob gations-s
profits, OF course. 90 into ,h- State Treasury land,
according 10 Mr. Smiths plan. constitute a tilld
lot lnicma Improvements All the present Bank.
to 90 out Of existence rs their charters exirr and
the capital Of the State Bank, (Which j., to l,ay.
branches wherever eNpcdIem to do augmented
"a they several, cxpIre-or. according to Mr.. FL.
lls's projtt. they may wind up and transfer
their stock to the State Bank. il tllcv choose 50 to