Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-02-13
RI. yrW SES3TOR from !H;ssissippi.

~ j
When votes almost at lie in the Senate oil The
u. s., upon the SubTrcasury bill, every vote counts
Much anxiety has, of course, been felt about The bear
ings of Judge Troer, who takes the place Of Judge
Black Of Mississippi The vote OF the Legislature was
as follows:
Bod!ey, 32 votes, Loh WIKI,
Henderson, 81 'o'" wing
Troler G2
The Globe publishes the following reply, before
the election 10 series Of questions put 10 him by the
Whics-Wc consider Judge 1rotter, from these pre-
misses, as not being Sub-Treasury, but Special
Deposite Indeed, he says as much in his last
sentence. He The alternative after our own heart
for especial Dcpnse, not subject 10 be used as the
basis of Banking by the Institutions employed AS 10
the SubTeasury the present state OF things brings II,
it is true, within the category which he recommends 1t
is in force, under the existing laws, until the Banks re-
sumo specie payments
"JAcKsox, (ali.) Jan 90 1898.
"Gentemen-Your polite favor of The 18th inst, has
been received, and hasten to answer it. am fully
sensible Of the importance to the people OF this country,
of the several questions you have been pleased TO sub
nit, and take much pleasure in furnishing you as |
shall proceed 10 do, explicit and unequlvoca response
to each Of the of your inquiries in the order
in which they have been propounded.
LIST. You have inquired Of me whether am in lavnr
of the old Bank Of the United Slates | answer, am
not
ID. You ask me if am in favor Of National Bank
Of any description: ! answer, am not
81 am ct the opinion that Congress has no power 10
create banking corporation, and that il had, il would
be highly dangerous and inexpedent IN do So To the
third inquiry propounded 10 me- reply that the project
Of exclusive metallic currency is in my opinion en-
tely impractcabe, and unsuited 10 the habits, the cir
cunstances. and the commercial prosperity Of The PEG.
pie Of the United States that it is opposed 10 the credit
SYSTEM which, under proper regulations and BY proper
organzalion is highly conductive 20 our general inter-
esls and welfare. The idea Of an exclusive metallic
currency is nowhere seriously entertained The ques
ton las been nowhere made between credit and
dit The leading inquiry is, how credit shall be organic.
ed and established TO subserre the purposes Of
sound currency and Of uniform medium Of cIrcua.
ton and exchanges The principle on which we should
&C, in reference 10 this subject, is, in my opinion
we'll regulated system Of paper credi, for CONNER.
cin transactions, with gold and silver for neigh.
borhood and domestic exchanges. In relation 10 The
Sub Treasury scheme, 10 which you have been pleased
10 direct my attention. will simply remark that the
separation existing between the Government and
the banks has been brought about by the operation OF
law the actual condition Of the banks since they have
refused 10 redeem their issues and liabilities and must
and should continue until these shall be removed
and that the proprety Of the recommendation Of MIR.
Van Buren, TO perpetuate this separation and 10 provide
other fiscal agents in lieu of the deposi,e banks, must
depend future contingencies In the present posture
Of the banks and the actual condition of currency,
can no objection 10 the plan Of the President.
If the contingency shall arise upon which The pub
lie may be safely deposited with the banks, the