Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-08-08

II ON. the peopls would knOs nothing about il,
and loo Constitution would become in that respect
dead lelIer, while tie stockholders Of banks.and
the borrowers Of their deposss would get richby
using the money Of the people,
30 adtoilly and quietly was the thing managed
that the whole country slid MO this hncOusttu.
honal system without being aware Of the pnnci-
Piles involved in ii.
The Secretary Of the Treasury every year 70.
ported that there were 80 many millions in the
Treasury, when, 10 fact. there was not dollar
there, the whole having been lent out 10 traders
and spectators. and the Government having no.
thing left but credit on The books Of The banks.
In 1887, oil these keepers Of the public monies
became defnuers. Having lent out the public
money, and not being able TO collect it, they 70.
tcsed 10 pay the warrants the Treasurer, and
acknowledged themselves defaul,ers one and all.
This threw the Government back upon the orr.
gInal plan of the Constitution, and began 10 open
the eyes Of the people.
II was now discovered that the idea Of keeping
the public money In banks was all sham; that
in effect, Il pas not deposited there 10 be KEPT
but 10 DO LOANED OUT, and that the result
was subvefsion orthe provision of the Consttu
ton; which requires that it shall be kept in the
Treasury until drawn cut by the authority Of an
appropriation by Congress
Having witnessed in this result, the fatal con-
sequences ola departure from the Constitution,
the President reverted 10 the safe plan Of that in
strumen,, and recommended system which
should prevent, tho drawing Of any money ltSm
the Treasury except in Pursuance OF appropra-
lions made by law Whether this plan shall be
adopted, or whether the delaulters OF 1927 shall
be again employed with the view that they shnll
still lend out the public money, is one Of the lea
ding questions which has agllated the country ev-
er SINCE
Stripped of all DISCUSSES, tho question is just
this Shall The public money be applied 70 pri-
udis mesf"
Tho Democracy says "t she'll mol" Tho
Fedesal party says, III shall" And this " the
greatest point in controversy.
Che Federais,s, with their hard cider log cab
ms, and sham hero, are struggling with oil their
might again to get possession of,he public money
for their private use; they do mol mind how MUCK
they spend in tie contest, for they intend 10 mako
It up by the loans they expect 10 get, Il SUGGEST
full, from the public Treasury the stockholders
of banks can contribute freely now with the hope
Of having il oil made up by an interest on the NIL
lions Of public money they may have to lend out
| il Harrison is successful
On the other side, the Democracy insist that
the taxes and duties collected from the people
shall, IN the first place, be no greater than an
economical administration Of the Government
may require aud in the second place, that the
money so collected shall be kept as sacred de-
pose, for the purposes fer which the poop c have
paid it, as provided in the Constitution. Instead
of looking for profit in the use Of the public mon
| ey, they propose 10 punish by fine and lmpnson-
ment, any keeper of that money who shall use 1t
himself, or lend it out 10 others.
The plain people Of the country ho pay taxes
but ask no lavors from banks or the Government
will be ut no loss to decide which is the most hon.
est, safe and constitutional plan.-Gl0f