The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-06-14
THE SPECIAL DEPOsITE SCHEME.
AGAIN.


The Richmond Enquirer and its cores
pondents are still harping upon this unfortu-
nate scheme. 1t is urged to settle the I" vexed
question: between Mr.. Van Buren-the
"Great Expunger" and the "little Ex-
punger."
We would suggest to the Enquirer, with all
respect, that there is something Of far more
weighty consideration connected with the
manner of collecting, keeping and disbursing
the public revenue, than the comparatively
patry one, Of settling differences between in
dipiduals, or OF conciliating Mr.. Van Buren,;
and that is, restoring and preserving 10 The peo-
pile sound and uniform currency. The peo-
pie must and will have sound currency. Will
the Sub Treasury scheme restore it! No.
1t is intended to divorce the Government from
the people to provide for the former by spe-
cial legislation, and leave the people to shift
for themselves. This scheme Of special de-
postes, we are firmly convinced, is the same
thing, except in another form.
We warn the advocates Of those schemes,
that the adoption of either will as certainly
lead to the establishment of National Bank,
as that we must all pay the great debt of ma
ture. Neither will do any thing towards re-
storing sound currency. Both isolate the
Government from the people, the currency
and business of the country.
The people will not long put up with
vitiated currency. Adopt either of those
schemes, and our life upon it, there will be a
National Bank before Mr.. Van Buren's term
expires, in spite ofhim.
As Col. Benton said in 1884, in that part of
his speech which will be found in our paper of
to day, the banks and the currency Of the
country mist be controlled and kept sound
through the means of the public revenue, and
the agents employed TO collect it.
That would have been done under the de-
posite system, with a competent head Of the
Treasury Department, even with the embar-
RAISING Legislation which took place.
i he breaking up Of the system and all the
embarrassmen,s into which the country was
plunged, we do not hesitate to express our full
beleG were brought about principally, if not
solely, by the imbeciie manner in which the
Treasury Department was administered.
greater service would be rendered the
country, in our opinion, by some of our
friends, if they would bend their minds to
the exposition of the errors which led to de-
ranging the late deposite system and the none
tary affairs of the country, than in pressing
empirical and hunbug schemes, which they
can neither explain nor understand.
We warn the Sub-treasury and special de-
posi,e advocates, that while they profess to
look with adherence on National Bank,
they are doing more towards securing the es-
adjustment Of one, than all its open advocates.
with all their efforts united could accomplish.
DEMOCRATIC DOCTRINES IN lS3i-THE
EFFICACY OF THE RESOLUTION OF
lSl6-STATE BANKS-STATE RIGHTS
SOUND CURRENCY-PUBLIC REVENUE.
We ask an attentive p.rusal of the follow
ing extract from speech delivered by Col.
Benton, in the Senate, in March, 1884.
We agreed with him in every word of it
then ; we hold to every principle it contains