Lexington union. (Lexington, Miss.) 1838-18??, 1840-01-24

m'schlcvous consequences WI, WIN more
ted to the former 'han to the latter, p'' m
p ? Of permitting the pullic n lne
to be used by its keepers as b".. money
l'eved to be peculiar to this co ~,a,' Is be,
t., ",oe exist :; scarcely any where el.c and nc
procure ? II her'' improper influence. 10
appealed 70, unwisc connex,or. s arc
''shed between The GovernnanS.' 'e es'ah-
0nm'ers Of powerful State ins, una vast
%'ner motives than the rusIic noo o'I0's'
brought to bear both on the ryo,s' a0a are
legislative departments, selfish co ,s[oHd
n1ns' lead TO special Legislation , ~"
'n. 1t is made the in'crcs, ofbant;n "'m'
S'''ulons and tleirstockh lders 'b,n,,g IN
ne o";on 10 use their cxerrors e. ."%"'
increase OF taxation and the accrmnl H. we
OIL a surplus revenue; and whilean avo".
IS afforded, the means are hrr;sho H'r'e
those excessive issues which lend to 1T
ravngani trading and speculation, md nd s s
'"e 'ofer"nneIs OF a vast debt abroad onG
suspension Of the banks at homo ""u
Impressed, therefore, as | am. win IL,
pfocpriely OF the funds of The Governmo,,
being withdrawn from the private uoo '" u
eI'her banks or individuals, and ii. n,l,,
money kept by duly appointed rnlI c
agents. and believing, as ! do, tina, sucb
also is the judgment which discussion ' ~
lection and eyrernce have pro5ucoJ ~
the public mind, leave the sobioct with
you. 1t is, al oil events, essential 70 ha
Interests o! the community and The husr-
ness Of Governmcnl,hat decision should
be made.
Most Of the arguments tha, dissuade "a
from employing banks in the custody and
disbursement Of the pnllic money apply,
with equal force, to the recent of their
notes for public dues. The difference is
only in form. IL one instance the Gov.
eminent is creditor Of is dcpositcs, and
in the other for the notes it holds. They
ahnrd the same opportunity for using the
public moneys, and equally lead 10 all lie
evils attendant upon it, since bank can
as safely extend lis discounts on a dcpos.
lie Of its notes in the hahds Of a pntGc
officer as one madc'i its own vaults On
lie other hand, il would give 10 the Gov
ernmenl no great security: FIR, in case Of
failure the claim of the nolch0Ider would
be no better than that Of a dcposior.
lam aware tina, the dang'r of neon.
venience to tn public and unreasonable
rressuie Upon sound banks have been IT.
gcd as Of jac'ions to requiring the pa,meat
Of the revenue in gold and silver These
ol i"c'lons have been greatly exaggerated.
- From The best estimates We may safely
fix he amount Of srccie in the country at
eiah'y-fve millions Of dollars, and the
portion Of th2t which would be employed
at any one time in The receipts and die.
bursemen's Of the Government, even if
the prop Sod change were made at once,
would not, II is now, after fuller i0'estga-
ten, believed exceed f ur or five millions
If the change were gradual, several wears
would elapse before that sum wovId TO
required, with annual opportunities, "
he mean tine, 20 ALTAR the law, should
experience prove it to he oppressive or
irconvenen', the portions OF the c mrAu'
nifty on whose usincss The change "o0u
Immediately operate, are comparatively
small, ror is 1t believed that rs edrc1
would he in the least uriust or Injurious
to them.
In the payment Of duties, which corst'
'nlc by far tie greater portion OF the rev,
cnne, a very large proportion IS cef''cd
from foreign commission houses ana
agents of foreign manufacturers who sen
the goods Consigned to them, generally al
auction, and after paying the duties OIL "
the avaiIs, remit the rest abroad IN SPf',e'
or lis equivalent. That .theamoun'" gu,
ties should, in such cases, lie also re'a'''u y
in specie, can hardly be made mater u
complaint. Oar own importing 'ne'
Giants, By whom TIE residue Of TIE ou''SI I
is ppid, are not only peculiarly Intefesleap
in maintaining q sound currency "nI m
he measures ia question viii espte'a'l!
promote but ore from the nature oil '''V'
dealings best able to know when srecl'
will be needed, and to procure II WIN NV
least difficulty or sacrifice. Res'd'pe' ,ha
almost universally in places whe[e 'n ~.
drafts used by the Government 10, Ho o
/ disbursements must concenirate,the n"'e
every opportunity to obtain and use ' ha;,
in place of specie, should it pc 'or u's ,,
interest and convenience. VI inc nn a
! Der of these drafts, and the faclllles !1 ,,y
NAV afford, as we'll as of the fap'o ,"1
with which the public funds are t era"G
; and disbursed, an idea may be lo'" n;l.
| trnm the fact that, Of nearly twenty ~"