Lexington union. (Lexington, Miss.) 1838-18??, 1839-11-02

assume that il is so--that the bank is sus-
pended. and that The end will he cessa.
! lion of the enormous and ruinous specula-
lions. and wind up, al the expiration OF
three years, with as potent dividend rs
circumstances shall afford"
Democratic Address. The great length
of this document, and the difficulty IN OBJ
tanning aid TO put it in type, prevents lis
insertion in our columns. We are aware
that articles of such great length are sell
dom read, but the union Of parties and the
effect their action will have upon the coun-
trv-the discussion of the currency ques-
tionand the contrast between the snh treas
ury and u. States Bank-lhe safety OF
the public money and expense of the two
systems-the abuses practised by the
States Banks and the remedy pointed out,
cannot fail to ensure it an extensive peru
sal, and it is matter Of regret We cannot
present it in fall to our readers.
It is clearly shown that the "northero
man with southern feelings" as the wings
factiously call Mr.. Van Buren,, has CON
| irbuted more to the advancement Of South
crn institutions and extended more pro,
lection to the settlers ofthe new states than
any man north Of Mason and Dlxon's line,
That on the slavery question his acts
will show his feelings more in unison with
those of the people of Mississippi than thai
of either of the other Presidential candl-
dates.
Ia alusion to the safety Of the public
money under the Slb.treasury system. the
fact is presented that the government off
GERS will be required to give heavy bonds
and take an oath, for their faithful dis
charge Of their duties, and subject them
selves to Imprisonment 10 the Pententa-
airy for embezzement Of the government
funds. But if intrusted to the Banks, its
security only depends upon the honesty
Of the officers and incurs the risk of being
lost in the "revusons of trade and the
fluctuations Of paper money" Should
they receive the Deposits some five hun.
dred more would be employed, which un-
der the sub-treasury Plan an addition of
some fourteen would be only necessary.
In reply TO the charge that the proposed
system would increase Executive patron
age, it is shown Tint it presents more for
mIdable barriers against corruption, that
no money can be drawn from the Treasu-
ry, except in obedience 10 a law of Con-
gress, and on warrant Of the Secretary
Of the Treasury. Should the President
and all the subordinate officers subject
themselves TO impeachment and penal
punishment, the fac, of the money being
in the banks presents no additional obsa-
Gle, as it could be drawn out at PLEASURE
in much larger sums than if distributed 10
different sections of the Union. "If the
President regulates his conduct by the
laws, the Sub-treasury places him no near.
er the money; ifdisposed to obtain an TN.
lawful control of it, the Independent treas.
ury throws far more obstacles in bis way
than a Bank or Banks"
One of the most prominent reasons ur-
ged in favor Of United States Bank, is,
that it would control the operations and
restrain the issues Of the State Banks
How much more beneficial would be the
effect, in collecting and discussing the
public revenue in specie! | would act as
a check upon State Institutions, without
the expansion incident to United States
Bank, and its attendant evils. A recur.
renee to the past will convince every IN.
prejudiced mind that as many failures
have occurred with heBanks while though
to be under the direct influence of tn,
"great regulator" as at any other period
The wings harp upon the increased ex
pendituies of government, but have no
the candor to speak Of the extinguishmen
: of the Public Debts, of the establishment
G of territorial governments, the organlza
ton of land offices, the enlargement Of III
b army and navy, and that new post route
1 have been established. They simply cor
r trast the amount expended during Adam
u Administration with that OF Gen. jackson
?, leaving the inference to be drawn that III
= same was achievd by the former as III
Is latter.
Under the head of Defalcations, II
n committee show that loss was sustained h
to The government under other Adminisr
10 tons than that Of Jackson or Van Bure,
and significantly point TO the fact III,
by those most clamorous, upon the subject O
on stockholders in the Deposite Banks, whic