Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1839-10-31

The snl,ioincd remarks of thc New
York New Era, OH the Independent Trea-
>ury. are sensible aud much to the point.
This great political question, around which
so much mystery has been purposely
,hr"wn, is made plain 10 the weakest un-
derslanding. The remarks ofthe Era, are
worthy of the .auenlion af all whose minds
are open 10 conviction -
THE INDEPENDENT TREASURY.
We do not know where John Jacob
Asrur keeps his money Perhaps he de-
posites it in bank-perhapsin his own
office. He has right to keep it where
he chooses. Well, suppose one or more
OF our city banks were 10 demand of Mr..
Aslor lslat he should let them have the use
of all his funds, that they might loan the
same for the benefit Of the favored few
who own The stock of these banks, what
would Mr.. :Astor reply? That he chose
TO do as he pleased with his money. and
most particularly 10 keep where IL could
be found when wauled.
Put The Unired States government in
the place of Mr.. A>tr. The merits Of
the case are the same. Let any bank
show lis right to the use of the national
fluids for the exclusive benefit Of some
twenty or more rich men who own its
stock, and we will not war against The
right. Perhaps some oIber corporations
mag put in an equally just claim. The
insurance companies, peIchance. may I've
entitled TO share. The various incorpor-
ated benevolent societies may put in a
claim, and even the Sailors Snug Harbor
and Trinity Church nigh, take a SLICE
They certainly have as much risEf to ii az
the banks.
What is a bank? A combination Of
certain men permitted by the bank to
make from twelve TO twenty per cent on
their actual capital. The man who lends
out his money on bond and mortgage, re-
ceives only seven per cent Interest,"
Why not permit him to use portion Of
the government funds for his benefit? Has
he not as much right 10 it as bis next door
ueishbor, the bank stock holder! Or does
The act of State Legislature. iucOrpora-
ting bank, confer upon il. the privilege
of trading on the money of the nation
THE war Of the government against
the Bank !!"-What war! How carried
on! By having no dealings with them,
and by not interfering with their legiti-
mate business! The business Of bank
is to lend money in a certain proportion 10
to its capital. Has the government inter-
fercd with this business? Has it forbid
den any bank to lend money? No. 1t
has simply proposed that the money Of
the people should be kept as individuals
keep theirs, subject TO the control Of the
said people, lhrouSh their appointed agents
10 be at hand when needed, and to be
safe from the grasp ofspecniation 1t may
be kept in strong box, if you please, or
it may be specially deposited in The banks
for safe keeping. But it may not and
ought not 10 be placed in the hands Of a
few individuals called stock holders that
they may leud it out at a high rate of in
terest for their own individual benefit
This is all that is contemplated by the
independent Treasury scheme.
The time is not far distant when ma.
jority Of the banks themselves will he the
warmest friends Of This scheme. =. 1t pla-
ces them all on an equal footing. No IA
vorile few amongsr them will be enabled
TO lord over the others by the aid. of gov
ernmenI funds; they will he enabled to
pursue The even tenor of their way, each
doing business in proportion to its Iegiti-
male capital, SO far as the government, is