Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-03-12

/ porarion OF que by his o"n spbstuel Out ofthe
slender materials of Treasury and drafts ~
pay public creditors transfer funds from place t.
place. the public service M ght require. and foar
principal receivers to Keep the public money, he has
ooninteh up, with the adn avisj aginstIon,
future Government Bank, which he told us, with the
unIosi confidence. would rise like cloud, al first
/ big hand. bur which would SOM darken all thu
! horizon. Now. IL Is moi hale unfortunate for his
confident predictions, lal these seminal principles
from which the blnk is TO spnng. have all cxisIsd
iion the omme ne emeutol or Government III full
loree except The o,r receivers, without showing tho
least tendency 10 produce the result he Anticipates
Not Gully ours but every civilized eevernmenthas the
po"ef In draw Treasury warrants and transfer drafts
MOI las the power IA single instance terminated IN
bank. Nor he fact lha the money ~ 10 be Kept
hy receivers contribute IN the least 10 produce ous
Thr public funds in lher hands Willie asnueh beyond
the conlfnla the Executive twas in The vaults 81
thr banks. But - sufirn ds onssio, would ask, how
there he bank without the power Ia discount or
To use The deposile- aud out al witch OF the prosis-
ions OF the bull could the Treasury, by any possbil:
", obtain either undo, the seNeie penaltlrs al The
bill which prohibits the touching III the public mo
ney, excrnt warrants or tlralts, drawn by those
having authority, IN due loln aud tor ar public SER
wee
Buiihe danger which Al excited immac inaton
ucira,es hereafter FROM the bill would east IN sober
ffany under the substitute. There lt"oud require
neither fancy nor conjecture 10 erode one. IL would
c,st, with all lis faculties aud endow me nis eompeis
discount drposlles aud all; with which, immense
mcans, guided by ,cntrd md dn otiing head. aud
blended and uael with tie Government, 50 rs I"
iaim on" efr1t mass 81 pow Int contrast with
the bill How simple sartnrss The one, with
is iont principal receivers t"trr = many clerks aud
hyr inspectors conlrared wfh ihiy complex aud
migllfs engine power And Vel there are many,
both intelligent and rlftiotie, who oppose the bill
and support the aulsIitair oa tn ground fliat tho
former would give mora ptfouas@ t9d power than
the I,aer! How strange and wonderful the diver
sity al the human mint
SpfAr lfbm being uue, III wy fat 81 tlr separa-
ton OH the Government lfon the b. la. provided fer
Ia the bill would, OF ITSELF b. he most decisive blow
that could b. given acainst Government patronage,
aud ha union oi Iie twofhe nost decisive IN it, Ia.
,of. When tl1cn iinfrs arr received III the public
due, cab anl the pubic money deposited ia Their
vaults. the hiuks com In dass ri the Govern
mrnt all ue,ion4 connected with It's ,oal seiiou.
The mgheiits tnxrs au,iluttes. the greater It's
4 e<pcod urc spl the Ia surplus. the more
thru etcui,on aud business, aud oil ooinse, TIN
greater Ihe profit; and house. an all questions OF
iaxalo1s and Disbursements. aud the act umnatious
ii luuds N tho Treasury, fhelr pterrst would
throw them the s,ac u ths &; Jtel"nen AND
~ ,lnst the people.
All his Is reversed. When sepal,'rl gie higher
the taxation and Disbursements and the larger .he
surplus, the less would be their profit ind useir in
iolcsi IN that would thrn" thrm with the peo
pie and AGAINST the GoYctIHprnf. The reason
ob,ioas. Specie Is the bpss OF banking operations.
aud the greater amount they ean command his
E''',' VIZ Wv .',.l -, j. - - H.,
nv '"'' ''' " -, - -, ar -
note, clear thai the higher tie taxes and d,r-
pn''''n'"'s, "H" ~ - -. ,i
''''a ~ r. -, IN H. i,, a. ,L. h,
-" =, :, ~ ; ana, ,.,.,,,,.,I,. ~, l...
tItr nrolt. lYciy dollar Withdrawn from them
would diminish lheif husncs, lpar old At least AVID
hence y tegmd 10 trir nwu interest would Inevitably
l"'e '' W "
u - = i.,,... . f,l, on.r,. ,,,,.Ii
~ - NJ ,,L,@ or,I. lat.
- = - - - es.,,,.rs
"o"'a nr ''Nt" ''",' 's ''' :" va ~, IL
W.T. ~ w - - - y 49, 49,. -.
r " ~ l 49,, ,,,,,,,,,','y ,,,s.s,,ilx
~ - -, -. .,i.u, - ,h, s,;,ve,,mspi
- " l..,...,..,..a, - t,or a,d -, uu
'"' ~ ',i'" 1'' ,,'., af A., c,nn,v
,h, .r,r'.,,, -, he .l,,e or taxes more
20 u 49, go, ~ 4. s,,,to,,u.u,s AID
.,''' II - . h, ,,o ,l,,, ,n,,s trh.
ii' 'h"''i'i 't'''ss' -, ...,
'o''' ~ I ~ - ,I .otrnIl,.., a ,y,.in
'' u - .,,, II .,,l, ma ,,e Ia,
:" w '.'"' w ~ - -, fl s,,l ,i ,L. ,nu
'e''p''n' MS 'N'' ~ ~ ',,l =, ;,s ,ll,
sp'ps''' - = ''' : ~ ;9,,,.., los. h,.,, IA,
'''' WV '"' lns' - ~ ,,o,s.,f liy "a
'""'9 ~ .t,; ~; .l,, = a. aud ,,l,al, al
/ ..., h. ,,oeed .i,.oat all IN. .ii,as,,r.
','le, WA, - 49,, " :, / ,,c,I d.n.,..
'''' nv ~ Ii - ~, t,o,,,s s,sts,, :.
. u ''e '" ',,.,,,,,s .,s,.n, of dis.
l'het ~ '' - ,',,, ,,,e, e.,
""'a'''' " " - ~ -, ~, e,,,ld ,o ~. hen a
=, -, ,,,,,,,,,,, sn,,,l,,-ns j.. henc. legislative
, r,..,,,iv. ns,,,,,,1l,,i,, ana fuay, hruce the
,,i,, ,f n, t4#.,.v :: aud ll. disasters vi ch
,i,. ,.e Ia our ,,rpsttt deliberations. Revive this
si ,,..,,i,, ,lont this substitute, and all this