Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-01-04

,;o. which we think impracicable, or II P.Ieu,
requls'lom S;nn.-lhat nothing bu, gold and silver snel
oaoe, - nayments to and from the treasury
oe use .dm;ts in effect, that the exclusive % o. w
iae Ill kinds Of payments, could mol nj ris."s .,;sG.d
Ma md might nezer be Desirable. :" 49,
w III, and are therefore decidedly IN ' y. ~ ~
OF .S' of the Richmond Enquirer, when corresponds
gil gil The common nrsc.ice of the Government ITO" 20
o,ronizatiun until now. we CANNOT Pei'..s :" w.
,onable distraction, for pr'cuchi purposes, Is 10 ~ h,
~. ,na ,hc notes of specie. paying oahRs' Al ne. y
'e w Wv, =, ,l regarded in The ordinary transactions
"a s. In ~ .on,muuilv; or il regarded, 1t IS only IN iaVos OF
VI nor ir,nsmi.sibls, and therefore more convenient
currency OF oe two' p-.- r,.,- ,-o,oss. !.
BE. tina, the Treasury should receive gold md
u ':,ra: y r their equiraieat, the notes OF spec,e.paylng
n ~ that these funds should be deposited specially
with banking Institutions in good credit, and USED Tor
.on hut The le Ultimate purposes OF the Government
fSnd mo,eoye,'I thai, tue Special Deposite Bank shall not
TO bonnd TO receive any notes, which It may not agree
20 credit as cash; but be bound at all times to pa, the
Treasury warrants in specie, II 1t be called toll ans
will, in our opinion, effect all that tae Administrator
c,n desire il will amply secure The Treasury against
;nconyenience and loss; and restrain the banks from
loaning The public funds, or in any way nlnghng them
with the concerns of individuals or their own concerns
It is a plan, too, which is conEessedly the second choice
of The President himselG and, as we hrTly believe, The
frs. choice Of the people. 1t will bring about the great
object of the ADMINISTRATION separation OF the public
moneys TO use the language Of the Globe} from the uses
Of private trade
q. But whether these moneys are deposited with Sub.
Treasurers or with Banks, ace maintain that neither can
7~tphJuils use theza. That solvent banks are the more
secure depositaries, can hardly be denied; unless one
should also deny that the business men of the country,
who invariably keep their depositeS there, do not consult
their safety. Bat the hunks really stand in no aeed OF
the public funds for the legitimate purposes OF their bu'
siness; and their past experience must make them reiuc.
tant TO have. an = convection with them for my purpose.
An they can desire, or that the public interest can de.
mand, is, that sound bank paper, the redeema5!e noteso OF
banks, shall not be discredited by any act of the Govern.
mcnt. If the banks ace not permitted to use the pubic
money, The natural tendency will be to a reduction OF
the receipts of The treasury; for the public will not per:
nit large sums 10 be received and lie idle. They will
guard against undue accumulation: They understand
too we'll the practical meaning Of the poetical maxim,
s ssMa arseHt0 color est orarls
'hoarded coin never slliaes,'-to allow it to be boarded.
They desire to keep il constantly bright by circulation;
and if they find it rushing il too rapid a stream aud con.
centrating in the Treasury to s,agnate shere, they VIII
seek TO prevent such accumula,ioas by q reduction OF
the revenues. This We conceive 10 be a most desirable
object; and one in consonlnce with the spirit OF our fe-
publican institutions.
..lf, ia connection with the system of special deposits,
Congress would satiorize the Treasury Department to
inves, any occasional SURPRISES in public stocks, rs re-
commended by the Secretary of tke Treasury, such an
authority would tend still further to prevent accumule-
tons in the hands of the dePositaries; and therefore We
hope that bis advice may be adopted.
"A special deposite system Of the character defined IN
tneSc ISI1aIaS, "Ouiu aillte the fSepuoNCaH p1tby WIZ
out exacting any unreasonable sacrifices of opinion or
prejudice. We think they oughe to unite On it. Now
is favorable period for establishing The policy OF the
Government upon a safe and permanent footing; but it
cannot be co established without some concessions, and
such we believe the Democracy are prepared 10 make
They regard the late Message Of The President as indi.
eating a willingness on the part Of the Administration
70 accede TO any reasonable modification Of the plan pro.
posed at the extra session; and while they approve Of
the spirit which prompts a course so we'll calculated to
produce harmony, Isey are, so Tar as We know, disposed
10 maintain that medium ground on which the business
interests of tie country Eay meet the Legitimate and
constitutions! policy Of the Federal Government, not
only without injury to either, but with decided advan.
tage to both. They ought not to be, and cannot be long,
anlagonistical. A contest between them must prove RI.
inous. 1t ought to be ended Il, once. Tie sooner, the
better"
From se Maine .arg1s)
awe are da;ly strengthened in the belief that the Spc.
eiat Opposite SYSTEM is the Middle Groanl' on which the
Democratic party will unite, and thas preserve its una
niHity and integrity. This system embodies the great
divorce principle advocated by Mr.. Van Buren,, and at
the same time evades the objections brought against MIR.
Cslhouns bill, that its tendency was TO increase Execu-
tive patronage"