Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1839-05-09
From the YdsOs City Wing.
A sUB-TREAsURY s'NUT-sHELL"o OPENED.

AsUB.TREASURY S.NUT-sHELL"O OPENED.
An articles going the rounds the loco-foco
newspapers called ''THE ISSUE IN A NUTSHELL, y
presenting succnct argument in favor of the
Sub Treasury, divided into distinct propositions
and are considered conclusive Batwepropose
to crack open these ''nut-shells" and see how
they will look inside. The beneficial results OF
the Sub Treasury are thus presented
"TAs Democrats ,cant National Treasury to
keep the Peoples moneytn,
81. Where it will be ih the vaults and iron
chests belonging to the People.
"2. Where it will be under the care of officers
appointed by the President and Senate.
IS. Where the officers who keep it will be
obliged to give security in double the amount
they are allowed to have on hand for its safe
keeping.
"a. Where, if an officer touches dollar o!
it illegally, he shall be liable by law to pay
heavy fine and be sent to the State Prison for
two years"
Answer to the above:--It has never been le
MED but that so far as the safety of the pub
lie money was concerned, the inevitable cor"
rupting influence of the Sub-Treasury system
was the chief objection to it. But, we think,
"the general 'Celtare" Of the people has claims
upon the Government as well as the moe
safe keeping Of the public money by them
selves.
So Where an end will be put forever to
individuals specuiating with the money Of the
people; because, not cent of itcan be drawn
without an appropriation from Congress-"
ACKNOWLEDGMENT from where! Why it
is already drdacn, and is in the more private
custody Of an individual and IS to "specua-
ting" every body knows that il may be per-
mitted to any extent; and if fDally the mon.
Iey is forthcoming whom wanted for Govern
ment uses, the specializing cannot be inquired
into.
rs. Where as the money cannot be used ex.
cept for the purposes for which it was raised,
there will be nobody interested in collecting
more revenue than is wanted for Government
Expenses"
ANswER:-The money can mos certainly
be used for private purposes, for it in more
private custody and thus, thirty thousand
Sub Treasurers are interested in collecting
more revenue than is wanted.
81. Where, if temporary surplus beyond
five millions should arise, it will be Immediately
invested in productive state government stocks,
and kept there till wanted"
ANSWER The Government as a separate
independent money making institution uncon-
nected with, and uninterested in, he "wELFARE''
of the people, can no doubt male money, and
inancier very well.
$50. Where the money Of the people will be
under the control Of the people, md used only
for the purpose for which it was laised."
ANSWER :-"Under the controlofthe peopleF
Yes, it will be under the control Of about thirty
thousand ofthe people; but thereare some mill
ions, not fayoured with public Office, who have
very little control in this mater, and as little
control Of those who do control l..
"9. Where the money of tie Government
separated from the business oftle Banks, can;
be used when required, without he cry OF war
on the banks"
ANSWER ga lodr upon the baaks" is The very
sum and substance of the whole system. II ne
cessarily begins, continues and ends in nothing
else.
40. So that the business Of banks may be
kept separate from politics.
"ll So that there may be an end to all in
ducement on the part Of the banks to buy up
political leaders, and newspapers--and corrupt
the halls Of legislation"
ANswER:-Why Van Buren,, in his last mes
sage, says that it will be competent for the Sub
Treasurers to employ banks to keep the money
for them, when ever they think proper and
we know that one Bank in New York pays Mr..
Hoyt, the Collector, nearly $4,000 year inter.
est, for what he depositcs with it.
"l2 So that there may be no more complaint
of the Government making war upon the Banks
--or the Banks making war upon the Govern
ment.
"l3. So that the Bank and State may here
after have no conflicts, but each let the other
alone.
ANswER,-Strike out the word Shank" and
insert people in the 18th and 18th propositions,
and you will have the trath fairly stated.
"14. So that in case of a foreign ,car, the
funds necessary for the defence Of the coun
try may be at the command Of the Govern.
ment."
ANswsR:-A million aid half of i has al
ready gone on a "FoRBIGN" expedition OF some
kind; perhaps a "%ar."
"15. So that sudden pressure in the money
market need not affect the operations OF Govern