Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1839-05-09
From the Yazoo City Wing,
A Murderer of Commerce and Currency.


Mr.. Van Bupn in Message to Congress, in
1887, stated distinctly, in recommending that
accursed enemy ofindustry, the Sub-Treasury,
that in all financial transactions the Govern
ment had nothing to do but consult It's own IN
terest. That tshoud conduct its finances with
out any reference whatever to the mercantile
operations of thepeope That to take into view
the advantages cr disadvantages that might re-
suit to the Domestic Exchanges in general com
merce, by this or that mode of conducting the
public finances was no part of the business OF
Government.
This most extraordinary Of all doctrines that
was ever promulgated, forms the ground work
of all the destruction which has resulted from
the little SukTreasury experience which we
have had; and is the basis Of objection to
that ultra FEDERAL and extra deposlte ma
chine.
Look at it ole moment, and see how it will
bear examination. There is in the United States
from fifty to stventy-fve millions specle-va-
rving as our breign commerce GIBBS and flows.
The annual receipts and disbursements Of the
Government ute about thirty milIions-pertor-
med in specie. Here is an abstraction from trade
of one half the bullion in the country.
greatest difficulty is, that we have a financial
Institution, in the midst of our commerce, Of a
character unlike all or any other, of mammoth
dimensions, and Of such construction that it is
necessarily GI the men conducting 1t consult
their own interest,) opposed, in all points, to al
other financial operations. The people mus
| fully understand and be familiar with this sub
lject and we are determined, that all Gambia
men of good sense, who favor us with perusa
tofou paper, SHALL understand IT, For we knol
that sophistry and fanatical humbuggery car
be made to give place to plain reason and sounc
argument.
Suppose that a Bank, or any other fnancia
institution, with a capital orf'ty millions ofdoI
lars, was established in our country, whose bus
mess consisted mostly in rcceiving.'and disburs
ing monies, and the operations Of which exten.
ded all over the Union; and that it differed from
other monied Institutions in this, that the prof
its arising from the use Of money (or interest,
and from the performance Of Domestic Elk
change operations, did not accrue to the inSti,
tuition, but to the agents, personally, who con.
troll its affairs and that the business of this
institution is so great that it employs twenty
thousand agents, distributed all ov er the coun-
ItIy' w nat WOulu Oo INC lheNlldOIe eHeCI OF
the operation Of such an institution upon the
commerce and business Of the country?
Why every one can see, upon moments re
Election, that it would be destructive. The in
terest Of the conductors of such mammouth
concern lies in a very different channel from
that of all other business men. They are nei-
Their agents employed upon mere salary, nor
are they owners Of the concern, interested in
the advancement Of its interest. They may
receive salary it is true; but they receive al
so, all the advantage which the use Of fifty mil
lions of money, and all that is to be gained by
the multiiarious exchange operations which are