The Ohio Democrat and Dover advertiser. [volume] (Canal Dover, Ohio) 1839-1840, 1840-01-10

tuo ptooV"e yN~tl sgc eN~aeGe NHN~''
held BY him, subject 10 drall dunnl
each week, has been less than half
million.
The ease aud eafsty oflhe Treasur,
in,kespingihs public money, are pro
NOTED by the applIestIen Of its owl
drafts TO the public dues. The o6jsc,
lien arising from having them too Loaf
outstanding, might be. sobviated, an.
they yet made to afford to merchaBi'
and bsoks holding them an equivalent
flor ppecie, and in that way greatly les
sen the amount actually required. Still
less Inconvenience will attend the re-
tquirement Of specie in purchases o
public lands. Such purchases, excep
when made on speculation, are, in gen.
eral, but single transactions, rarely re-
peated blythe same person; and it is {
fact, that for the last = ear and a half
during which the notes Of sound banks
have been received, more than moi.
ETY. oithese. payments has been Eolun,
tsrily made in specie, being larger
proporiion than would have been re-
quired in three years under the grsdu-
alton proposed.
Il is moreover q principle. than which
none is better settled by experience,
that the supply Of the precious metaIe
will al~sys~ be found adequate to the
uses for which they are required. They
abound IN countries where no other cur.
reucy is allowed. In our own States,
whore small notes are excluded, gold
aud silver supply their place. When
driven to their hiding places by banks
suspensions, a little frmness in the
community soen restores them in a
sufficient quantity foE ordinary purpo>
ses. Postage and other public dues
have been collected in colD, without 80 .
rious Inconvenience, even in States
where deprecated paper currency has
existed for years, and this, with the
aid of'Freasury notes for a part of the
time, vas done without interruption du
ring the suspension Of 1887. AT the
present moment, the receipts and DIS
burse of the Government are
made in legal currency IN the largest
portion of the Union-no one suggests
a departure from this rule; aIfd If il can
now be successfully carried out, it will,
bs surely attended with even less diff
6culty when bank notes are again re-
deemed in specie.
Iadeed cannot think that a serious
objection would any where be raised TO
The receipt and paymen. Of gold and
silverin all public transactions, were il,
not from an apprehension that surplus
IN the Treasury might withdraw a
arge portion of /. from circulation, and
ock il up unprof,ably in the public
'auIts. II would not, in my spinion, be
1lfficuli TO prevent such an inconveni-
snce from occurring; but the authentic
which have already submit
ed to you.in regard 10 the actual a.
mount in the public Treasury at any,
me time during the period embraced in1
hem. aud the little probability Of a diff
erent stale of the Treasury for al leas,
some years to come, seem to render II
unnecessary TO dwell upon It. Con-
,resa, moreover. as | have before OBJ
viii in every year have an OPP
to guard against it, shonld
he occurrence Of any circumstances
cad US to apprehend injury from this
source. Viewing the subject ia all lie
| cannot believe that any peri.
ID will BIZ more auspiclous than the
present for the adoption of all measures
necessary to maiRtaiR the saacthy OF
,ur twh engagements, and to a,d IN se-
curing 10 the community that sbnndanl
supply Of the precious metals with adds
20 much TO their prosperity, and gives
such increased stability 10 all their deal
ngs.
In a country so commercial as ours, banks
in some form will probably always exist; but
his serves only to render 1t the more iucum-
bent OH us. Notwithstanding the discourage nent
Df the past to strive in our respective stations to
mitigate the evils they produce--,o take from
hem, as rapidly as the obligations of public
aith and a careful consideration Of the inmedi-
lite interests of tho community will permit, the
unjust character Of monopolies, to check, so far
AS may be practicable by prudent legislation,
these temptations Of interest and those oppertu.
mites for their dangerous indulgence, which be-
set them on every side, aud to confne them
strictly to the performance Of their paramount
duty, that of aiding tI'e operations ofcommerce,
rather than consulting their own exclusive ad-
yantage. These and other sdlutary reforms may
it is believed, be accomplished without the VIC.
la.ion of any Of thsgreat principles Of the So
cial compact the observance Of wlrich is inds,
to It's existence, or interfering in any
way with the nsefsi aud profitable employment
of real capital.
institutions so framed have existed and still
exist elsewhere, giving to commercial inter.
course all necessary facilities, without initiating
or depreciating the currency, or stimulating
speculation. Thus accomplishing their leglti.
II, .ho,. hava 0a;n od tl,a .atPaJf 0,,oran