The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-11-22
From he New York Express.

THE EXPERIMENTS UPON US.
If this Administration had not alread ex-
perimented upon the currency for six years,
we could seesome sensein that assumption
of wisdom, that promises so much Of 8 bet-
ter currency under q SHbsTreasury than
we have now or had, prior to the war open
ed upon the currency ten years ago. The
Pet Bank Experiment was, as foret0ld by
Clay, Webster, Adams, M'Dufie and others,
to result IN an exclusive paper money cur
rency--and the Sub Treasury experiment is
TO attempt result in an exclusive Specie
currency. Both experiments are extremes.
Both are ruinous to Trade and Commerce.
The Wing mean is Currency convertible al
will into specie-of equal value ia all the
states, convenient, and safe, as proved BIZ
experience.
We have had now eight or ten years of
experiment. TWosuspensionsh have been the
consequence, and peTilous risks to the Com
mercial, Agricultural and Manufacturing in
dustry Of the country. Never did the Adj
ministration urge any measure with more So
iicitude than the Pet Bank experiment. All,
and more than all, that is now said for an ex-
elusive specie currency for the Government,
was said by Gen. Jackson and others, in be-
halfof4he Pet Banks.
In 1896, President Jackson, in his Mes
age, thus expressed his opinion as to the use
Of Public Money in which all his friends ac-
guessed
6 TO retain il in the Treasury fsaid he) an
lemployed ia any way, is impracticable Il
is considered against the genius of our free
Ifnstltutions5 to lock up in vaults the treasure
of the nation. TO take from the people the
right of bearing arms, aud putIheir weapons
Of defence in the hands Of . standing army,
would be scarcely more dangerous 10 their
Liberties, than to permit their government TO
accumulate immense amounts beyond the
supplies necessary to its legitimate wants.
Such treasure would, doubtless, Be employ
ed at some time, as Il has been in other
countries, when opportunity tempted ambi-
lion.
Now, Notwithstanding al this, we are
called upon BY the same party, ssto retain the
Public Taoney in the Treasury unemployed, =
and . against the genius Of our institutions, =
8 TO lock up in Sub-T Treasury vaults the
treasure Of the nation, which Treasury, un-
Occasionally win be ssemployed,' ~ i" as il has
been in other countries, when opportunity
tempted ambition. 2
There is not the least hope or belief, that
the Administration will be any more satisfied
with the Sub Treasury, if they can carry It,
than they were with the Pet Bank system.
They promised better currency with that,
as they promise now. They cried, Gold, =
.sGold. e Yellow Boys s Specie, 2 Spe-
cie, as they cry now. Senator Wight was
certain the State Banks would do ali for tn
equalization Of the currency an United States
BaIik could do. The whole party ia this
and other states endorsed the scheme slough
sforewarned, as now, 81 the ablest and most
EeXperenced business men. that such an ex.
pertinent " as ruiAons and iinpracticable
What end are we to have at these eonvul-
slons, these times, these ban ptcies Of men
and corporations, but ia prohtlng nom the
wisdom aud experience Of our fathers Are
we 50 much wiser than fhey4 Has our ex-
perience given Us cause to rejoice n our
Wisdom9 Suppose we rake the Sub-Tfea-
sufy plunge, how many more are to follow 4
UB-TlsEAsURY DoCTRINE.
If John Laws scheme ST banking has
taught Erenchzaea 70 depend upon specie for
circulation and for q measure Of value. We
may hope like scheme, as fatal as ais. viii
teach the people 81 tbis country Is nFoiifa.
bly. Boston Post
This IS the kind 81 Argument urced br lie
partisans Of the Federal Sub Treasury. Be-
cause the people 81 France and Spain. ar
Russia, and China and the monarchiss md
desp otisns Of Europe and Asia. are Ground
70 the earth BIZ hard money currency. the
f,6ef{In IF this AZ