Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1839-10-24


After urging its creation, he merely says: "a
STATE bank can no more supply and govern the |
general currency than STATE government eau
direct and control tho affairs OF tie nalIon,"-I
Now what idea did the Hon. Senator intend toI
convey by this happy illustration! Can any
one doubt that he intended to assert that Ma
tioaaI Bank was rs necessary IN The banking
system as a National Government IL the fe%,
cral systcn@that National bank was essen
tiaI for the purpose of"s3pply'"g and gorera'ngI
the general currency" Now what more did
the wings ever cd v,cnd lor?
But the Hon. Senator denies that he meant To-
recommend such bank as the wings desire,
He says his plan of a bank was the same VAIN
some notifications as those proposed by MI
Jefferson and Gen Jackson. Now unfortunate
Ily Mr.. Jefferson did not, in his letter to M
Galirtin, propose to 'screate Il bank TO supply
Qad govern the general currency" but opposed
to United States Bank upon the very ground
Iofthis great power ''to supply and govern the
general currency which he considered would
render such an institution dangerous. Indeed
this power in national bank has always been
the great argument urged by It's opponents IL
gaiust such an institution.
As for Gen. Jacksons notion OF a bank, 1t
was never given to the public, he not having,
as he says, been called upon for ii, The Hon
J., Senator's plan was Gen. JaCkson's r'th m'dV'
catsoas Now not knowing the latter It Is jill
! icult to understand the former. Without ii
a knowledge Of the dream we shall he slow IN
comprehending the Interpretation thero', Lei
the lion. Senator, however, avow What plan nc
pcases, if it will supply and sopefAH' genera
Icurrencu--thcn will 1t be compatible with ms
recommendation TO Judge Black, aad tnon vii
it test the issue between us, VIII her nc has
changed on the cUrrcHcy question. But let u,
hear him again on tins subject lie says II
his ''vindcaton:'
81 claim then to have been an original aivo
cate of the Sub-Treasury system, ana 10 s'"h'
,|now, substantially where dll IN 1851 III IavoI
: of "the independent use of oar own money II
our own fiscal agency, opposed TO the oH''
! bank system, in favor of the divorce Of 0aht
and State, and the complete separation oil TIT
government from all banking corporations
IS,atc or national then have no oPlnIoh II
change on This subject; for no ca"d'd ma" G"
> cal The proposed Improvement Of me $"2- I'e"S"
.rg system by Tie abandonment Of me c"'Fea'
T. clause 4 change # opinion, any more IMAM III
q ton changed his opinion IN relation 10 s'o"''
= boats when he improved upon the ofigIha' moo
: ell"
Well then, according TO this explanation IN
Hon. Senator in 1884 was in favor oil Il "su'
Treasury or government Bank" to be create
no, only as the fiscal agent OF the goYefhmeH
but $50 supply general c"rrency-NoW
seems to me the Hon. Senator had better az
n knowledge with good grace that IN his ie!te
y 10 Todge Black he was advocating the creator
or an ordinary United States Bank, Than thu
TO lake refuge in the monstrouS proposition INA
- he meant by that bank IA Treasury or oSocI
=, tive Bank" with power, in his own lanG"oSG..
II .,suppiy and gcuern the general currency i. -
- Whv. sir. we wings repudaie with horror !"
n idea Of placing in the hands OF the eSecu'l'
!. The power to "govern the genera currency :
y We think it would make the President d uGSP'
r. Mt once. But il seems it was very gooa "9"'
p cratic doctrine in 1884, according TO Inc ho'
s Senator's notion. ,.. -.
"a Would the Hon. Senator dare now adV
~ cate a sub.Treasury system on the Groun
70 that it would "supply and govern The general c"
Q reacy." ,oI, 4
20 proposcd Enforcement Of the sub Ireasury 81
iItem by the abandonment Of The currency cSa"
Ne change Of opinion, any more than follon cNa
D. ged his opinion in relation 10 ste"Iiooo
70 When no improved upon the or'g'na' mo
in cl.' -,
rs Perhaps not; but should suppose the tot
abandonment Of the plan OF steamboat, a.
id the conversion Of the materials INTO long, 10
,e black schooner, propelled by sweeps instead
n. steam, and appropriated to a purpose emu
isIIy different from that originally intehoe
/. would have rendered even Fulton Liable
ed the impu,ation of having changed his oP,
reIion, at least with regard to that paF''cul
4 craft.
~. In March 1884, the Hon. Senator urged up
nv Judre Black, the creation Of "a bank 10 sup
oIrln cp1eral currency" lie now advocates
10 sub Treasury system, stripped" as he says
,aIIovcrv feature of bank" and applied to I
de purpose, not OF uppyins general cGrreno
or hut solely to the safe custody oflhe public M
nv lev! Yet tho Hon. gentleman calls nus
mi Improvement" upon the original model, ana
,os . change Of opinion. 1t is an improyem'
nc. with vengeonce and the only change o. op
lie ion which can be predcated upon !, = . y
he abandonment, not only oil the orlS'ha' 'ne'
ex. but Of The original object
oil The steamboat which the hon ooha.or
the 1884, proposed to have CONSTRUCTED ioL 1n'
os. and comfort of the whole people, he now
md noses 10 improre by throwing overheard Inc
orc ,;ne md turning her into rfpsao' 3"iter
e,o Tshn nsc and convenience Of the goYcrnm
bic alone. a.,o;,l, adv,
~ 49,, .hnvs both the power ana