Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1840-06-06

the public lands within the State.
am opposed 10 the Bill dcnominated the "In
dependent Treasury BILL for the following rea
sons.
list. 1t is not a measure OF relief to tn distress
sed condition of the country.
ID. 1t will place the whole monied power of
the Government in the hands OF the President,
and will enable him, if lie chooses, to dictate his
successor.
Sd. 1t separates the interests OF the Govern.
ment from the interests Of the people, by rcquir-
ing Gold and Silver in all payments to The Gov
eminent, and leaving the people nothing but
currency of Paper.
9th. at is at war with the genius Of our Gov
eminent, revolutionary in its tendency, and dan
gerous to the liberties Of the people,"
9Th. 1t will reduce the price Of labor, lands
produce and property Of all kinds; increase four.
fold the debts Of the people by lowering the
prices Of what they have to sell, cause Gold and
silver to be made an article Of Merchandise, in.
stead Of a circulating medium, and build up a
monied Arstocracy Of Brokers and Shavcrs.
9th. 1t is a system Of foreign origin, and does
not exist in any free, and enlightened nation I'M
der the sun. 1t is IN operation ia France, Spain,
and Holland, and here, the laboring class are
mere "hewers Of wood, and drawers of wafer"
Of our people would, in the course Of time, be
reduced to the same degraded condition.
9TH 1t will swell itself into an all powerful,
orcrShdlolcing, Government Bank, and be used
as the instrument of the President to carry out
his doctrines, and to perpetuate his powers. With
such an engine. backed by the Army and Navy,
an ambitious President would find in an easy
matter to erect a Dcsposm upon the ruins of our
happy Republic. | do honestly believe that the
passage Of this bill will tend to the concentration
of all power in the hands Of the President, and
that it will be the death knell Of American lib
erty. The laboring class of our people arc ap.
pealed to, especially, to give it their support and
are told that it will place them on such safe and
secure grounds that the fluctuations of Bank pa
per will not reach them; but so far from it, it will
in my opinion, make their condii on and prospects
rest entirely upon the liberality Of The lordly
moned holders. regard it as undenia5ly that
a well regulated system of credit, such as Banks
only afford, is the only means by which the poor
and industrious can reach the places Of the erich
and well born
Let it be rccolleced that the '.Independent
Treasury bill repudaes, refuses, Banl, paper
Of all sorts for lands, and for customs; exacts
Gold and Silver to the last cent and then you
will be able to determine whether an article so
much in demand, VII circulate as it has hereto.
fore done, and as it would do, if we had a Nation.
al Bank. The good sense of the people will
readily discover that Gold and Silver will be
bought and sold as Horses, Cat lie, Hogs, or MGR.
chandise; that it will vary in price as it is scarce
or abundant, and that all dealings amongst the
people will have to be done with Bank notes
| am no friend of "Shin plasters' and broken
Banks, and hope the day is not far distant when
such chair will be silted from the pure wheat,
SO that every one may know what is good, and
what is worthless. am in favor OF mixed cur.
rency of Gold and Silver, and Bank paper, at all
times convertible into coin. would annu the
charter of any Bank for refusing to pay Specie
Tor its notes, unless some extraordinary, and OBJ
vious cause, growing out Of our commercial or
other relations with foreign countries, existed for
so doing "God and Silver for common nans.
actions, and large Bank notes. every where equal
to specie, for commercial purposes, is the true
policy of our Government" To bring about
such a currency can only be done by National
Bank, and hence am in favor OF such Bank.
All persons agree that the currency VIC now have
is not as it should be; that it is unsafe, that it par
aIyzcs trade and is (rau2ht with incaculablc evils
TO the country, and all, | have no doubt, most
sincerely desire 10 be delivered from such an I'M
happy state Of things, and once more, to move
on the grounds Of confidence and safety. In the
present condition Of the country, with no under
standing amongst the States in reference to the
Banking system, ] know of no remedy for the
diseased state stated OF our currency, but Ma.
tional Bank; but | would have it guarded by sau.
tary restrictions; its powers should be clearly de-
fined, and limited to the legitimate purposes of
''aidng the Government in the collection and dis
hursement Of its revenues" and Of facilitating the
Commercial, and Manufacturing interests of the
country. | would exclude Foreigners from ho-
ding its stock, or from having any control in its
management either directly or indirectly. The
defects which existed in the charter Of the late
United States Bank would serve as guide, and a
warning, amply sufficient to enable US to avoid
them in making new Bank. To many Of the
provisions Of the late United States Bank have
been opposed ever since 1882, and would still
oppose the creation Of Bank with similar powers
and privileges; but view it as a poor reason that
we should abondon a National Bank altogether,
hscause the old one was not such one, in all its
details, as we would wish. Although opposed to
its charter, have never doubted that it gave
us the best currency the world ever had, and that
it performed, faithfully, is duty to ths Govern.
ment, at all events, not one cent was lost 10 the
government by it, although it was the sole de-
poslory OF its revenues for II years But its
peers were too great, ard much of its STOCK had
fallen into hands unlriendly to our Republican
system of Government.
Experience is the best guide by which nations,
as well individuals can be governed. and it has
sufficiently established the fact that whilst we had
a National Bank the people were contcntcd, confd-