The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1840-09-15
THE SUB-TREASURY.

,r,.o o,,er was class OF men who went to
L d.,ih.r,tclv TO forge their own chains, it is
composed of those Senators and Representatives
who have voted for what is called the "inuepen
dent Treasury Bill" 1.-THE manifold evils VINO"
it will inhict could be made TO rest only upon lne''
own shoulders, it would be some conso'ati"n' D'.
it is not So 1t brings upon their constituents s'
ping, grinding desPotsm. 1t essenua'y 'n""s
the relation between debtors and creditors, ny eS
senally altering all existing contracts; as muc So
az if they had passed law that all men VINO ""'o
contracted to deliver quantity OF mefchano'~o W
pay an amount ofmoney, should be he'u 10 "''
thereto fifty per cent? order TO fuihl the
The existing debts ,oftSeucounry and of the peo-
ole wero contracted wifhsreierence TO the amount
of circulating medium, whon they were c"n'rac'co'
and the debtors should have the privilege OF pay
ing then, without any great and sudden reaucuo"
of that circulating medium, by me "chon 81 ms uoo
ernment by the operation OF THIS treasury pi'''
The amount of the circulating medium must DC
greatly reduced. The consequences must ne 'hal
the price Of property Of all kinds real and person
AL must be greatly reduced The man who three
wears ago bought farm, worth then $iooo' anu
Maid $500 down in cash. and gave mortgage '"f
the other $500, must be content to have his
farm raIued at $500, and lei it go to pay his mort
gage if he cannot in any way raise the money Il"
ischarge it. irhc is TO raise the money from ms
farm he mus, be content.under this reduced crcu-
In ton 10 get 80 cents for his days work, instead
OF IS cents or 81 and the same for bushel OF his
corn: IN this way he must bestow perhaps, twice
as much Of bis labor in order to pay his deot, or
lift his mortgage.
This Bill as efIectually sacrifices one part oil TIC
community for the advantage of the other part, as
if they had all been slain by the sword and their
property seized 10y the conqueror. No tyrant OF
ancient or modern times ever took moro efectu :
nj method to increase his own wealth and power at
the txpensc Of his sub ects. BY the operation OF
this Bill, thor salaries indirectly doubled, and
viii buy tvvics ms much bef,re, in labor, provs-
ion or property OF any kind, while tho capacity of
the people to pay those salaries, will lie diminished
in like proportion.
The specie Of tho country will be boarded and
kept with /, rants grasp from the of The PEG.
pie, in the vaults of some ten or twenty thousand,
little and great officers tf tho Government Amer
June 81, lS43 all debts due the Government must
be paid III gold and silver.-Not dollar Of This
specie mast he loaned for any purpose, upon any
security, without subjecng the officer to mprson. :
me nj, from six months to five years. The copso-
quenoe will be, TINT mos, Of the specie Of the
Try will be in the hands Of the Cove, nment, which
will calmly take Of itself, and let the
people take of themselves. IT will Gre
ate swarns Of new officers, who must be engaged
the year round, in the delightful business of conn
ting over dollars and cents. Ok teams and horse
teams must be employed in carting specie from one
part of the country 10 another; about as profitable
to the country it would be 10 have each of it's
teams loaded with Rhinoceros or Mountain Hog:
but not qnilo so safe business; for the Hog could
guard HIMSELF but the specie must DO guarded
Every little Post Office in the country will hold
out lure to rogues and pickpockets, who will be
prowlng round, and listening to the tinkling of
the specie, with view TO make an onset upon IT
the first opportunity The officers also will often
prove fpithless, and run off with the money But
Banks cannot run away.
If the people stand this measure, they about
ready for King Bur THEY WILL NOT.
The You've MEN.-Our oppon ents have learned