Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1840-04-25

! plicity which are 50 co7geziiaA G e
/ character OF republicans than R'I chs
4 Legislation which has yet been sifesT'lai
! In the message Of 1885, the follow
iag:
II IExper ience continues TO realize che
y axpectatIons entertained a. t. tha capa-
city OF the State banks 70 perform The
duties Of fiscal agents for the govern
msnt. al the time Of the removal # lie
deposItes. II vas alIedged bF the a5vc-
Gates of the United States Bask, thai Ehe
+ State banks. whatever might Sc re res
/ gulaiions OF the Treasury Department,
could not make the transfers recesre6
BY the government or negotiate t1s do
nestle exchange o. the country Il IS
now well ascertaiued thai the real ex-
changes. performed through Discounts
bv the United States Bank and Is twel-
7 ty-fve branches were ar least one--Asr1
/ less than those Of the deP1site banks Cor
an equal peri0d-Ol time; aui lF 3 Gem
parison be Instituted between the a.
+ mounts of service rendered by the ins.
4 tutions. on the broader basis which has
+ been used By the advocates Of the United
i States Bank. in estimating wlat thew
consider the domestic exchanges trans
acted BY II. the result wjlI BE- s-iil m1-e
favorable TO the deposile banks
I The whole amount Of public money
transferred bv the bank II the United
States. in 1882, was Sic. zoos GOO. The
amount transferred and actually paid 5v
I the dePosite banks IN the wear enflaz
/ the first October last, was S36.II9. $50
/ the amount transferred ana paid be.weeu
that period and the oh OF Noverbar.
was $500. 600; and the amount traas-
4 lerred warrants outstanding o1 that dav.
was S14.45O.500; making au aggregate
| of $50, 168.894. These enormous sums
of money mentioned have been transfer
red with the greatest promptI.uie ana
regularity; and the rates al which tie
exchanges have been negotiated 1revl-
ously to the passage OF the jep1zicc act.
we're generally below those charged 5v
the Bank Of the United States. InIe-
pendently o. these services which are
far greater th1n those rendered 6E the
United States Bank AMI IFS TWENTY-FIVE
branches, Il number Of dePozl-e banks
have, with commeudabie zeal o. all l1
the improvement of the currency. ia-
ported from abroad. at their own ex-
Pense, large SUMS # 7reei0ti Metals FOR
coinage and tircuiafi7u'
And in the Farewell Address (f-Hver-
cd only two months before the usu9~-slz
1914 Of Nay 1879 the following.
My humble efforts have nos been
spared, during ny administrator Of the
government, 10 restore tte e7Hrsi'e5j ass.
currency Of gold and y5h-er; and seas a
thing, / trust, has been done t5uzrfs tfe
accomplishment If his most dsar15.e OBJ
ject. But enough yet remains IS require .
all your perseverance. The power
however, IS in your hands and che RENE
dy must and Wi be applied ii You deter
mine upon it,
And now for the finale, us sketeaed br
the same iliustrious pen.
''The history OF the world never has
recorded such BASE TBEtEHEB1 and .
INFIDELiT1 as has been committed 81 .
the DEPOSITE BANKS against the f
Government. and purely with che v.ea
OF gratifying BiD3LE and the BtEly5s-
and by the suspension Of specie rrE-
ments. degrade, emb1rrass and ruia- &.
they could, their own country. Tor .-a
selfish views Of making large 7reisz Is
throwing ont millions or deprecated T.
paper upon the people IT selling tae.r
specie al large premiums. AMI b9yiaE mp
their own paper at discounts of from p
TO so per cent. and now looking forward
TO be INDUCED in these specuiau9as Tor +.
years 10 come. before they resume specie
Gen. Jackson 70 B'ei-. ,Fats
8, 1887. 4.
Again
"The revenue, reduced to the real
wants Of the Government. PAYABLE IN
GOLD AND SILVER COIN. tlo cre1i-s5
to be disbursed by the Government in \.
Gold and Silver, seiH gire US ga uHIeeiEs-
ing metallic currency. proven. hereafter
oyertrading, and give prosperity q ali
branches Of business. 3r5i{gs tke BFuks Z
and tie commercial community f-iH BE- fef1
70 manage their exchanges and ar matters
betlreeH them IN THEIR OWN WAY! rs
| hope 20 I-easa- g
~ notes will be issued.
From the conduct Of the Banks and the {
Merchants they deserve no lavors from q
he Government, which they have At G
TO disgrace, and 10 destroy us C
credit, both at home and abroad q
We here close our extracts for the s
present, remarking that thew need no
which has not already been s
supplied BY the sad experience Of every q
portion Of the community.
That the effects of this first -experi- a
nent," is only TO be lost in the disastrous q
Of the second. VIC much Il
ear. The war upon the Currency still G
ages. The Government. not satisfied r
With the mischiefs inflicted upon the cur q
-ency by its malicious assaults upon the 3
Bank of the United States seeks. throagh 4
he sub-Treasury scheme, 10 o5literate e
III traces OF our former Credit and Pros =
,erity as a business People. Having d
destroyed our National Currency "a 7
Currency the like Of which bat one 9th r
r nation on the globe could boast-o.ir 4
ulers would reduce Us to the beggaTlv :
condition of Spanish America, ave. 10 4
he level Of the lazzaroni Of Cuba. ia
rider, more efectually, to secure to the !
Executive the control Or the M0xET 5.
'owER. -NashuIle Hhig Il.