Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-03


public prosperity. This notorious and lamentable
truth is the first element TO be regarded in the con-
| sideration of the subject.
In the next place, it is true and notorious that
the successive plans for relief and remedy, which
the Government has prepared and adopted since
1888, have all signnlly failed, and have only led
great and important public interests, day by day,
from q bad condition to worse conditions till,
at this moment, the local banks over three-quar.
tiers of the country are in state Of suspension,
all the circulating paper over the space great
ly deprecated, and much OF it worth hardly more
than fifty cents in the collar.
The next great and notorious fact is, that the
policy of the Government, in relation to the cur
fency, has been the main topic Of dispute between
political parties, and that, on this poilr, chiefly
the contest Of 1910 turned and the result of that
contest has fully shown that vast majority of the
People rejects and repudates all the doctrines, all
the schemes and all the experiments, of the last
two Administrations.
A new Administration has now come into pow
er, and new Congress is assembled, for the great
purpose of reforming this state of things, and EN-
deavorng to restore the public prosperity by plac-
ing the revenue, the currency, and the finances Of
the country on proper footing.
As might have been reasonably expected, those
who compose the Administration, and the MAORI
ties of the two Houses, while all agreeing in the
necessity of adopting Immediately some efficient
measures are not perhaps, entirely Of the same
opinion as to any particular measure or moditica.
ton Of measure. On the subject Of Bank espe-
cially, it is well known there has existed much
difference of opinion among thrse who have acted
together most cordially in opposing and overthrow
ing the policy of the preceding Administrations.
The sentiments of the PRESIDENT for instance, as
they have been well known, and constantly main
tanned, for the last fifteen years, are not, in all
respects such as the Secretary of the Treasury and
other members of the Cabinet are equally well
known to have entertained and expressed. These
differences chiefly respect the extent Of the cOnsti
tutional authority of Congress In the creation OF
Bank and clothing it with powers.
What, then, is the line of duty naturally recon-
mending itself to those who, with these differences
Of opinion, find themselves called on to discharge
high obligations to the country Is 1t their duty
to beat the field of constitutional argument all over
again, in the vain hope of corning to perfect unity
of opinion on all particulars in the end! Is it not
rather to consider how far they differ and how far
they agree, and to inquire with candor and homes
ty, whether that on which they do agree may not
be made efficient for relieving the country!
1t is in the spirit of this last proposition that
the Administration appears to have acted The
particular plan before Congress, on the call of the
Senate, and which is now submitted to the wisdom
of the two Houses, is the plan of the Secretary Of
the Treasury; but it is reasonable to suppose that
it has been considered, and its general outline ap-
proved, by others.
1t may be presumed then, that it is The opinion
of those connected with the Executive Administra-
ton, that such bank as is proposed will be useful
and efficient as fiscal agent of Government, and
beneficial also to the exchange and currency of
the country. That it does not contain all the pro-
visions which some would have wished, is very
probable; but the objections to it, whatever they
may be, are of this negative kind. 1t may be taken
| Al, 81 H. tbNeo
who have concurred in it regard positively hurt
tul. And while some might be Of opinion that,
with other provisions, it would be more efficient,
yet the question naturally presenting itself was, is
it not best for the country that We go on in this
measure, Just so far as we 60 cordially together
and stop there! Is it not best to have measure
before us, which all, without the violation of any
principle, or any consistency, may unite in sup
porting! Shall we propose something in which
friends can agree, or shall we propose that which
some of these friends cannot support and thus By
division throw ourselves at once into the power o.
the common adversary!
Poorly, poorly indeed would the party now in
power fulfil the high expectations entertained by
the country, if they should not, with seriousness:
becoming the solemn crisis of the country, lay
aside the pride of private opinion give up persona
predictions, and with singleness of heart, and
under a full sense of the responsibility which rests
upon themselves, UNITE their counsels fairly and
cordially, and make gOrOWS effort to relieve TIT
country.
That this has been the governing motive in pre-
pairing the plan now laid before Congress-, there i
no doubt. That it will be the governing mutiv
with the Wings in both Houses, there is no doubt
because they must know that they act in the pres
ence of disappointed and eager adversaries, who's
eyes are keen to discern party advantages, an
who will be ready, at the show of disorder or di
vision in the ranks Of the Wings, to break in upo
them, as squadrons of weil-trained cavalry brea
in upon and overthrow the column, however great
which exhibits broken line, or All opening for at
tack. The only security for the Wings is coolnes
in action, and the compactness of the HoLLoN
{ SQUARE.
From the Washington correspondent
of the New York Herald (ncutral in poll
tics, but decidedly opposed to the late banl
or any thing like iD we extract the follow
ing paragraphs, and conclude our summar
of this morning by repeating the joyou
exclamation-Land Ho!
sit Gems to be the prevailing opinion, that
fiscal agent, embracing the leading features of h
plan of the Secretary, If not precisely identical
detail, will be established, and that too, withol
any ser ous difficulty or opposition. The rumOr i
that the project has the appreciation Of the Pres
dent, and is to be made cabinet measure. If tn
rumor is we'll founded, Mr.. Clay must forcgo an
opposition he may have medtated and abandon tn
idea of superseding this scheme by one of his owl
even if it is not exactly palatable to him. Let til
Executive and the Cabinet cordially and hearth
cooperate on this, or any other question: and II
man, or set of men in Congress, can make an
Roadway against them.
THE plan certainly steers clear of all constitu
toual difficulties No one pretends to call in ques
,;op tho no,ver of ConurpsS IN rrnata n cornoratiO