Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-07-04
L @ E. i 's' z G. AZ.
EXTRACTS FROM THE Spr,cu or I'M,

u" Tie Treasury Note Bill; deHreud IN
Mc H"">H Q, Representatives. Man 1888
Mr I hnIr':lHu.-It is nutn,v intention. on
HE present occasion, to djscuss =, Ir,y,l
'hc various $ut.jtci. cn,hracrd b, The re-
,"hfhs ui ny 'ion,rahir freud aud colleague
'.Hr. thompson, )wh" has ,uSt taken hi,
H';m. @ hi"n The independent Treasury
'"' COMES up Tor consideration, | NAV take
'" 'i'iHlnhitv, tn c0utrOvcrt MANY of the
f"H!''"'i' nc has assumed, with rCsDrct TO
| 'i'S great conservative measure; bu,, nt
present. >hail'coni;nc myself chiefly IT, the
Huhj%ct strictly before the com.niticc: the
"'i 'u'aVfiHins Il re- iss;ic oi Treasury notes,
III me place "f those " hic il have been re
'u'nr'i MT" the Treasury in the pavincnt OF
l'"'!ic cues, before the period contemplated
,"r i'ir, r"'!'np;ion by The az, of Orlohcr
''~'. 30 I"G"c ni the prOrricly ol tbi,
! h''hN"ic' u Is necessary 10 look 10 The state
| 81 I'M rca>ury. IN Il communication aL-
dressed t" HE iinusc II few ,l;,,. since. ON
'h!S Nnp"ci, by the rrc,,,icn, uftic United
| ''''S' IL Is stated, ih:., there are IN the
'c"N"'y' oi a'niinhle means. in round
! ,'"''"'fH, hut S2!O.uOG, aud in the Niim.
WV '9"i''"'u. Demands To Il large amount
''t >"~P h"rd III tn" Departments. watt .
'"t payment from the nuai, To be provided
carry the Hn"c'Amrni BAT Il few ,iavs Ion
go, wh"r - ~! pro, l,icd W i.i them. i, m,st
supp vi ";iavii''ahle mcanS the resources
are abundant; rwenrv-ri-lt millinnS arr.
on '"pn>i'c w:,.i the States. Fifteen mil
mons h!"ic are due from tie i,,uks ami IN
"iVi'!ul!S, one hail of whic!, will come, in
within the ncNt SIX uruiihs The ucccs>i,v
". me rca>:irv, Is AN inluicsi!a,c-prcs, n;
| ''' c"ssi'N: not cNetn'iin" {,nic-s increased
ny !o". c"ss:auonDhcyunh the next four or
SIN months, and limited chief, to tho next
TWO or 'nrcc monil:S This, sir. j. the mn.
lure "l IN" necessity, and iii, The state al The
! rc;'sury. ! ir embarrassment, is acci,lru
'i 'iu temporary. accustomed hv the lcnis-
'a'i".! oi Congress for the relief otilic banks.
! ny winch the means in The Treasury have
"c'n p" :n"1rd. ANA The premature return
| ni The mote authorised to be issued by ,l,e
| Ocl law, h@to'v lbe period OF their redemn
tinn ii.s fsiise8 i't ai.trsccs'fS ,'fs Tiff tiii
ser C"!isidnralnn, Is this: 10 autirusisc other
notes TO he ssr" !, rs lhc cmyr-a anc;cs nci,,,.
i"asu'y shall Iuirc in the ,,!arr n,ihns,
when h"'c h' :cIu,nyd inin ,h,. rrru.;,ry
Nti"rc the r''r!n'i contemplated for li,rir re-
hc"' l'ioh.--h"' r:.ccrdinS the limits i'm.
POS! ny The act oI OCtnh"r,' :,s 10 the
h"i"h'' ana ''nl' "i issue. Tile relief. " II
'c ii'''n"'i'i'i"; aud viii create The ,2bt ONLY
when necessary. and to he amount u.c.:.
SHY.
10 t!iia bill. there arc va,nrs o,:,,.,;,,.
urged; h"t nearly ali "f 'h,m are hur il. ra-
ton "l ''i"Sc which were pressed ., ,hc
extra SESSION. again! ll. original bill. 10
Which his may bc consitir,rd an amend.
:ncm'. They were then answered. ian, hr
III" "t such n mature. suppose. in the ouiu-
IonS "! iho>" who presented .lr,u a. ~
require repetition tn ensure rrc,I!cr,;un
ih"I III" lrongh, tnrw arr! an:iu: ann, T., .,:J
'h!| very c"milrndn!.c design, il may nnt
hc lmrr"p"r, again, briefly to notice tIc,u.
fir>i then. Treasury norcs are i,ucunSli-
tu'i"n!. l'""a'~r '!."" ar. bills O: c,cui,
ana tbs Government has no rinl, 10 ;ssrn
bills ni credit
Mr.. Ciri:faan. am State ni.h.S-mar.
am disposed Io regard with orcnt ;.alnusy
every power exercised by hi, Government.
ahI 10 require, III every case. Tia. il shall
ID" shown either ~ express grant. ar hy
necessary In'r:'''''"h, 'ha. the power claim
rh Is clearly oven by the to,,..;ru,iou-
N"w. s;f, Tie 'f"Erriiucn' wants Ia hnr.,v
nioiity. i"f Sr''" four or six mo,rhS |
inrn 10 the Constitution. and Gnd NO nro
bhitinn 10 his Gov >rru:nrnr 10 ..ru,i, hin,
OF cr,n'it. but the power '.tn borrow mo
nry' given. wi!;lnui ANY limit ,ior or res
friction :> 10 ih. mnnncr or form in which
il >ha'! hr done What is the incouin. ot
narrowing money? T.: il not .citinr mo
ney on your credit! Th" shane in " hich
YOU pa, ont you" credit or prnri,i~,. 10 nav
Is prr!r"'!y il,Elatcrial. ! hold in my
hani Treasury note. and Il certificate of
stock. To .'bnrroN money" in the Latter
form. gentlemen sav. j. cous.i,u.ionuI.-;n
til" former, nui. HI" TREASURY rc,r. is ,
promise Oh the part %! The United States. Tn
ray 10 II or his order II rcrl:lir sum. ON.
yea: from ta'r. viii, sir pc, ccri. interest:
--ihr certificate of ,.inck is "A dine, bill ccr
IIyin% '|n' certain sum is due by the
tni"d Stat. 10 = or hi, assigns. onr year
al!":'!ai", bearing Eve n"r Gem Interest,"
SOW, sir. Wha, is the difference hc,wccu
''i"Sc $50 mci'iolI Of bortowin" r,nncyl
bn'h hr" promises 10 paw. one wear after
date, al nearly TIA" same rate q! i,,irr,.s,
H"ih are I.In>trrn',!c--:hc nnr bv endorse
u"n--Iilr other by aS,!"u!urn, which, u,,y
u" IN h' h'inh--nna ihrs ;i:iprd the same Incil;-
ties for pnSsin,' from hand tn band. There
j. IN Fact. hn one mnicrinI differences he
tween IN" iw" form; of loIiI-arI ,'.ntIoas
no' appear upon III" face cirrhpr. The
treasury Eo'r may hr rcrcivr,l. acrordir"
10 claus" III The October law in pavmcu,
"i pnhlr dues and thus. he redeemed he.
'"r" Ill" expiration nf tn" year. Yci even
''i' n"cn'aF''y in these nnlr-. is not I'M
r""'ri ~ III The issue "f stock; which is o:-
,"n mad" rcd"cmnhlc n, The will Of tho
ti"verniicui. Hui can The time or manncr
OF rGhepning the ioan. in tho .rnsi dc.rcc.
nlirct'ht constitutional pnwcr of making il?
" 50, then the constitut"naitv nr the f,rm,
GrreIlsl3 ~ r-D n,ar lr-,