Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-10-05

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| independent uSe al cur own money, towards hold.
ias our etH Bank IN all the depas,les where 1t &,
received, and letting the Treasurer give his draft
or note, Tor payment AT uny particular place,
/ which, IA well conducted government, ouah, 10
have as much credit as any private drafts, or
! Bank note, or bib, and would give Us ,hc sa.s
faculties 'rhich zee derire from tie Bsaks"
In the main hen and with some mod licalons,
| concuued m 1884, as now Do in these views
Of Gen. jackson and Mr.. Jefferson. as have
long since established beyond all contradiction,
both by verbal aud recorded dlcumenlary eyi
dence ct that date published in 1884 and s35
| Tbs fiscal agency, denomnaled by Mr.. Jciler-
son, Gen. jackson and myself "a Bank" Is no
thirg more than the Independent Treasury Bill,
except that the bdl, a. nov proposed by the dem
ocratC party, IS stripped Of every feature Of a
| Bank. Ii cau receive no individual drposltes,
| sell no exchange, make no loans or discounts.
and issue 20 currency. II Is not then As now
proposed "a Government Bank,n as designated
| by Mr.. PreullsS, nor Bank Of any description /;
but simply fiscal agency, to receive, dis
! burse and remit the public moneys. Such IS
the Sub. Treasury Bill as now advocated by me :
but even in the form in which ii was proposed on.
gInally by Gen jackson, would with some mod
lIicatIon prefer it now, as did IN 1884, as an al.
tentative to the State Bank deposile syslem.--
There might be some objections to both systems;
but the Independent Treasury bill even as advo.
Gated by me IN 1894, IS much less Objectionable
than the State Bank system. Where then is the
alleged change OF opinion | warmly supported
IN 1882 as in 1884, the veto Of Gen, jackson
upon the Bank Of the United States. | opposed
the re chariering Of that Bank OF the establishment
of any similar institution, as now do. | opposed
the adoption OF the State Bank deposite system
declared 1t would prove a miserable failure and
are not these my present views, and have not
these predictions been fully realized Add to the
present independent Treasury bill, The power 10
issue to all who prefer them TO specie m public
disbursements, the bulls OF the government recelv-
able for public dues, as proposed by Mr. Calhoun
IN his speeches in lS37 aud IN 1898, and 1t will be
such Bank as was advocated by Mr.. Jefferson,
Gen. Jackson and myself strip Il OF this feature,
as IS now done, and 1t IS precisely the present
Sub Treasury project; not Bank, nor Corpo.
ration, having nc stockholders, receiving no lndl.
wdui deposltes, selling no exchanges, ISSUING no
currency, and making no loans or discounts, but
funds for public purposes only, separated from all
Banks comforting no additional power o. patron
age upon the government and drpnring It OF all
that immense and couupung influence which ever
must arse from It's connection with Bank corpora
lions, State or National. clam then to have
been an Original advocate Of the Sub Treasury
system, and to stand now, substantially where |
dad IA 1884, N favor Of 'the ndepcH deut use ol
our own money IA OK own fiscal agency op
posed 10 incorporating any Bank OF tue l. States;
opposed to the State Bank system IA favor ol the
divorce OF Bank aud State, and the complete sep.
ara,ioa oil the Government from all Banking Cor
porauon,, Stale or National. then Lave no
opiIions TO change On tins subject lor no caHdid
man can call The proposed Improvement Of The
Sub reasuiy system by tie Abandonment Of The
currency clause, a change Of opinion, any more
than Fulton changed his opinion III relation 10
steam boats, when he improved upon the orgluaI
model. Nor have any thlng 10 change as Re.
CARDS ho opposition expressed IA tie letter OF
March, 1891, to The State Bank s. stem il only
proves that was then, as am now, an opponent
OF the system; that never was conservative;
that have no opinions to change or relract on
tins question aud that such OF lbe democracy rs
ever did sustain the system, except lew con
seryulNes, have now repudIaled IT. and come over
Ia my views On this subject Aud here Is Il not
Ii.tIe remarkable, tina. the only measure oi Gen.
Jacksons administration TO Which ever declared
my uppOsit on, vas the State BANK depoate sys
tenn, aud that This is the only measure Of that
great patriot and statesman, now abandoned by
hun aud The whole party. Nor was my opposition
confined 10 March, 1894. No, when Wings aud
democrats both supported the Stale Bank depos
lie system by an almost UNANIMOUS vote oi both
houses Of Congress III 1886, my vote stands Io
curded against upon the journals OF the oeuate,
together with thai ot COL berlon and thee other
democratic Senators. My name also alauds re-
c. rded against II IN 1897 and ~ 1898, and when
ever had an opportunity to vote on the subject.
On the 18th June, 1886, when the state Bank
depos te bill vas under considerations, The follow
ny entry appears on The journals Of The Senate
"On motion ol Mr. Benton, to amend the reported
amendment, by inserting al The tnd OF HE 9TH Sec
non, The following lind an StiectHg aud con-
Anmag BGaks as dePosltor ts u pub'tc money
prefsrsace shall be glrtR 10 The banks Of good
credit, tuhich shall rei'aqmsh lhs ctrenidtoH u
all pGper currency UNDER TWENTY DOLLARS,
aud winch snail enter Into arrangements to pro-
mote The circulation oi OF GOLD My vote
stands recorded upon the journals OF the Senate,
together with that OF lew other hard money dem
ocrats, ia laVor OF tits provision Dul, unioIlu-
nalely, the Banks were then too strong TOT us,
and the amendment mol adopted lad THIS
amendment been adopted ana carried out ~ good
faith by the Banks IN 1886, II might possibly have
prevented tue susitasion aud catastrophe ol MAY,
1887 Nor did my support Ui The golden hum
BUG as II is now denounced by The wings, com
mence wuh my vote IA It's favor IN June, 1899
No, IN my speech AT Raymond Oh The 80 sept
1884, now mure than hive years past. declared
to The people, "consIdenng these IhIIigs, 1ho"
not what may be youi opinions, 'e'to" chizeI's'
but Tor myself viii oppose the Te.chdrler u the
,ra.ent Hauk az the creation oil any National