Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-04-21
;110TER,S SEco1lD 3pEEen
~ SUBITREASURY BILL;
- ...,vnGED MARCH -, 1888.

4dR SUB-TREASURH BILL;
S~svu9UD NGA8Ca ~ 1sss.
- ..-~xr: Having at an carly stage o'
-,es,ed. in . general manner, my
-. = - bill, must find an apology
ssaoppinR the Senate, IN the ackno"',
q tho measure, the "ove''y o.
- tho division OF op'n'on respect.
S1x:x a Known TO exist in both Houses Of
-, sble. in this state Of things. to give a
s5,rapcc " that side o. the question w"'."
p.Ds" :. reshaps, more than ] ought TO
=. .c, 1.ci that have done all which
i....cds. until make another effort
....;ocs of this government which, IN
Ine "... - materially affect the haPPi-
ssnis. arc those which respect com
J ,srenue The bill before Us touches
- scsaa interests. 1t proposes to act
=. m revenue and expenditure OF gov
ls.y. III 4 IL expected to act, also, Indirect
mrree and currency; while ITS friends
s.e1e,, altogether abstain from other
..,rs deemed by groat potion OF Congress
~ ~ country 10 bc indcspcns'b'y dcmaha-
.SvAs present exigcncy
1.-Two arrived, Mr.. President, towasos INC
- half century from tho ADOPTION o. INC
i6Iaise. During the progress o, tncsc years.
-. an, commerce, from little or nothing,
- a. |. hundred and ninety millions.
C.eet Of Z hundred and twcnty-cight
sssSr a;llions, in the year 1895. Oar mcr-
49, eu->ass approaches near two millions
Ss.s ,svcnue, and mn expenditure, OF th,r-
49, wear. The manufactures of the
49,, s.,e attained very great Importance,
- 81 commencement Of tho dcrange-
- u - ensrency, were in a prosperous ard
=, - The produce Of tho fisheries has
su,t: ssdthc general production OF the
- ap}ess Of the country IS increasing TAR
49, - esshp!c, in other countries, or oihor
- ss5Ass already reached az amount which
I, - No have not Investigated the subject.
uajssso Incredible.
e.. enmmercc Of the United States sir, is
=, ovss the globe. II pursucs its objects in
-. and finds its way int" every port which
Hkvs of trade do not shnsagainst its approach.
- 20 the disadvantages Of more costly mate
- nd Of higher wages, and often IN despite
\ neos,al and unfnvorablc commercial rcSu'a-
frpsf other states, tho enterprise, v'gor, and
-o.v which distinguish our navigation inter
FL eenble il so show orr flag, in competition
- the most favored and the most skiifu, ." the
eiDus quarters of tho world. In tho mean time
s6p.l activity does not lag nor !":'cr New
.s,.:...: modes Of Intercourse and facilities OF
=
s,.s,Iece. Public works arc projected and
laeeSsrd in spirit, which grasps at high
H1,.se sifcts, with n boil dcfiuncc cf all cx-
- NJ aggregate value Of the property OF
=. esuut,v Is augmented daily. constant
a,-a,d ee new capital exists. although debt
S.saI.,3v been contracted i'm Europe, for SANS
- 10 states, corporations and individuals,
p .r,e,ss connected will: internal improve
nj: which debt cannot now be less than
Nnap5 millions Of dollars. Sprcst''ag over \
- exsest embracing different climates, and
- VAST variety Of products, We find an intense
baeissd spirit OF industry and enterprise 70 pre-
.h,he whole country; whi;c its external com
~. - have already said, sweeps over all
- We arc connected with all commercial
snae;ss. and, most of all, with that which has
en1suhed and sustained tho most stuPcndous
- II commerce and manufactures, and winch
- and discusses an incredible amount "i
- avenue; and which uses. 10 this cnh. ana
Ounoeoe currency and circulation, h'Neo
sny Z metal and paper.
IA mixed system, sir, has also prevailed
~ =, from the beginning. Gold AMI sh"c1'
- eaavsssiblc bank paper, have always consul
~ ~ actual money. The people arc used 20
Z. system. II has hitherto commanded their
ssal3sace, and fulfilled their expectations. we
ne bad, in succession, two national banks;
Dass banks have, ut the same time, boon in OPP !
,sasioa Add NO man Of Intelligence or camdOr can
|say that, during these forty years, and with !
~ spsaeion Of . aasional and these State in !
aiessiOss, the currency of the country, upon the |
yAsse, bus been safe, cheap, convenien, and sat |
sheeosy. When tho gov eminent was establish
4 4 foosd convertible bank paper, issued by /
~ hanks, already in circulation; and with
q siseslaeioa il did not interfere. The United
eaass isdsed, had themselves established bank,
U1W tAe confederation, with authority to issue
pp9. A system Of mixed circulation, there
aAvo exactly that system which this consti-
-, - ID adoption, found already in existence.
I>s 1soe the slightest evidence Of any Inten-
cAo ssAbIishiag tho constitution, to over
WaaAolish this system, although it certain
yStDsAiect q tho constitution to abolish
- aH6i, and all paper intended for circula-
ta1a upsn the faith Of the state alone.
- - whatever then existed, Of the ma
1oasy q currency, rested On State leg
-; aaa - Il was not possible that uniform
Seessal credit, end general confidence could
weo LEGAL odd separate acts Of tho states.
- evbdeoce-l think abundant evidence
vas he istesiiOn a tho ffamcrs VI the
ss5n 10 give to Congress controlling
- csss the whole subject, to the end that
ssssd b, or :Le whole country, . cur
q ee'lorm value. Congress has hereto
ossessed this authority, and fulfilled the
snding duties. Il has maintained, for 40
sst a - . national institution, proceed
- - pswes, aud responsibility to the gen
csWansss. With intervals Of derangc-
ght about by war and other occur