Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-10-22

Ison's 10Th notifications. Now not know.
| ing the latter it is difficult to understand the
former. Without knowledge of the
dream we shall be slow in comprehendnp
the Interpretation thereof. Let the Hon.
Senator, however, avow what plan he plea.
ses, if it will supply and gorern the general
currency-then will it be compatible with
his recommendation to Judge Black, and
then viii it test the issue between us, wheth.
er he has changed on the currency CUES.
ton. But let US hear him again on this
subject. He says in his "vindication :"
Il claim then to have been an original
advocate of the sub-tres sury system, and
to stand nov, substantially where did in
1884, in favor of "thc independent use Of
our own money" in our own fiscal agency,
opposed to the state bank system, in favor
OF the divorce of bank and state, and the
complete separation of the government
flom all banking corporations, state or ma
tlonal.-l then have no opinion to change
on this subject for no candid man can rail-
The proposed Improvement of the sub-treas-
lsTy system By the abandonment of the cur.
reney clause change of op,niOD,any more
than Fulton changed his opinion in relation
to STEAMBOATS, when he improved upon the
original model"
4 Well then according 10 this explanation
the Hon. Senator in 1884 was in favor of
"sub-treasury or government bank to
be created not only as the fiscal agent of
the government but ito supply general
currency Now it seems to me the Hon.
Senator had better acknowledge with
good grace that in his letter to Judge Black
ne was advocating the creation of an or
binary U. 5. bank, than thus to take refuge
IN the monstrous proposition that he meant
by that bank ''treasury or executive
bank" with power, in his own language, to
supply and goUern the general currency"
| Why sir we wings repudiate with horror
the idea of placing in the hands of the exc.
cutive the power TO ''govern the general
currency" We think it would make the
president despot at once. But il seems
it was very good democratic doctrine in
1884, according to the Hon. Senator's no.
ton.
Would the Hon. Senator dare now ad.
vocate sub.treasury system on the ground
that it would "su. ply and govern the gen.
eral currency"
But he says tno candid man can call the
proposed Improvement Of the sub.treasury
system by the abandonment of the currency
clause change of opinion, any more than
Fulton changed his opinions in relation to
steamboats, when he improved upon the
original model"
; Perhaps not; but should suppose the
total abandonment of the plan of steam
boat, and the conversion of the materials
into long, low, back schooner, propelled
by sweeps instead of steam, and appropria-
ted to a purpose entirely differeSt from
that originally intended, would have rend-
eled even Fulton liable to the imputation
) of having changed his opinion, at least
with regard to that peculiar craft.
| In March 1884, the Hon. Senator urged
upon Judge Black, the creation of "a bank
to supply general currency" He now
advocates the sub treasury system, strip
ped' as he says 'of every feature of a
bank" and applied TO the purpose, not Of
: supplying a general currency" but solely
TO the safe custody of the public money
Yet the Hon. gentleman calls this ian inn
provement" upon the original model, and
not change ofopinlon. 1t is an improve
ment with vengeance! and the only
change ofopinion which can be predcated
upon IT, is total abandonment, not only
of the original means but of the original
object.
| The steamboat which the Hon. Senator
in 1884 proposed TO have constructed for
the use and comfort of the whole people, he
now proposes to Improve by throwing over
board the engine, and turning her into a
revenue cutter for the use and convenience
of the government alone.
In 1884, The Hon. Senator certainly
advocated, as his letter shows, both the
power and the duty ofthe general govern.
ment to supply, by some kind of a bank, a
general currency.
| Mr.. Van Buren, and the administration
party now deny both that power and the
du,y of the general government to NEEDLE
with the general currency" or in any
way to supply or govern it.
Has the Hon. Senator changed his opin
ion on this object, or does be stiA assert the
power in the general government to supply
a general currency through the medium Of
a ''Bank p
| Ireiterate the charge against the Hon.
Senator, that he has changed his opinion
on the bank question. | offer his letter to
Judge Black in proofof his having at that
time advocated "Bank,' that should sup
ply and govern the general currency. His
letter of June affords ample evidence that
he has at length passed through the bank
purgatory. 81 arrived at the golden paradise.
He now looks with holy horror upon all
banks state or national. The lion. gentle
mans own "vindicatIon" proves that he
was once in favor of banks for he acknow-
lodges that he wrote a pamphlet in 1884,
N which he advocated the sysem ofestab
fishing in each state, zone state bank with
auxiliary branches.
/ To show that the Hon. Senator was not
always, what he now calls himself, a ''hard
money democrat" have referred to the
following eloquent rebuke bestowed by
him in 1927 upon that distinguished "hard
money democrat" Thomas II. Benton.
"Iffhc prayer Of the country could be
heard Dithin these acaLs, ii sccuzd be GOD
lSAVE us FROM THE WILD, VS.
| IONARY, RuINOUS AND IMPRAC-