Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1841-12-15

r.,dv 10 yos, should yQp require i. a
of fiuaaes which. while il throws
P'oaud the public treasure reasonable
.""rds for lis protection. and rests on
gu ,sr, acknowledged 10 practice to exist
P."m The origin Of the Government, VII.
n' ne same tine, furnish 10 the country
.onnd paper medium. and afford all rea-
liable facilities for regulating the Ex-
sanoes. When submitted you will per-
i've II il a plan amendatory of the exist
~. " laws in relation 10 the Treasury De-
~ ,msnt-subordinate in all respects TO
f. will Of Congress directly. and the will
A. the people MISUNDERSTANDING.
ssoad i be found ia practice to realize its
",onises in theory, and repsalable at the
pleasure Of Congress.
/, proposes By efTectual restraints. and
!. invoking the true spirit Of our instilu-
,;oo.. 10 separate the pursue from the
word or more properly 10 speak, denies
mr. control 20 the President over the
.osnts who may be selected TO carry il
6lO execution. but what may be indispen-
ABLY necessary 10 secure the fidelity Of
,nc6 agents, aud, by wise regulations,
icons plainly apart from each other,
oryate and public funds. 1t contemplales
Ihs establishment Of q Board Of Control,
d The Seat Of Governmen. with agencies
4 monument commercial points. or wher-
ever else Congress shall direct. for the
ue.keeping and disbursement of the pub
ic moneys, and a substitution. at the option
Of the public creditor, of Treasury notes,
il lieu Of gold and silver. Il proposes to
inlt the issues 10 an amount MOTTO exceed
$4,000, 000-without the express SANE.
uon Of the Legislative power.
Il also authorizes the receipt of individ-
ulI deposits Of gold and silver TO limited
AMOUNT, and the granting certificates Of
deposit, divided into such sums as may be
called for by the depositors. Il proceeds
a SEP further. and authorizes The pnr-
chase and sale Of Domestic Billsand drafts,
resting on real anl substantial blsis,
payable at sight, or having but shor,
lime 10 run. and drawn Oh places not less
than one hundred miles splrt-which
authority. except in so far as may be ne
cessarv Tor Government purposes exclu-
Svrly, is only. to be exerted upon the ex.
press condition. that its exercise shall nol
be prohibited by The State 10 which the
agency is situated.
In order TO cover the expenses inciden
Dlhe plan, It will be authorized 10 receive
noderaIe premiums for certificates issued
On deposits, and on bills bought and suId
md thus. as far as il dealings extend. 10 fur,
vsh lIciIities 10 commercial intercourse
&ar lowest possible rates, and 10 sub
&d from the earnings OF industry, the
tasl possible sum- Ii uses the State
Bmks at a distance. as aGxiliaries, without
mputing any power TO trade 10 It's name
Il is subjected 10 such guards and re.
srain's rs have appeared to be necessary
Il is the creature of law. aud exists only
III the pleasure Of the legislture.
Ii is male 10 rest on an actual speci,
basis, ia order to redeem the notes at TIT
places OF issus--rroduces no dangerous
redundancy Of circulation affords q,
temptation OF specuaIion--is attended b.
no initiation Of pricss-is equablc in il
Oper ,lion--makes the Treasury notes
which il may use along with the certlt
rales Of dtsposit. and the notes of specie
paving banks convertible al the plac
where collected. receivable IN payment
Government dues-aud, without violatln
any principle Of the Constitution, affar'
the Government andfhe people such fac
tiles az are called fof blythe wants Of bot
Such. il has appeared 10 me. are its
commentators, and in view Of them
will be submitted. whenever you a;
require II, 10 your consideration.
am not able TO perceive that airy IA
and candid objection can be urged again
he plan, the principal outlines ofwhich
have thus presented. 1canaot doabt B
lhai the notes which itproposes TO furnis
athe voluntary option OF the public ere
nor, issued in lieu ofthe revenue and
certificates Of deposit. will be maintain
Gan equality with gold and silver. eve
where They are redeemsble in gold a
silver on demand. at the places of iss,
They are receivable every where IN pa
Nent Of Government dues. The Ire;
ury notes are limited 20 an amount of or
buuh less than the estimat-d annual I
cripts Of the Treasury; and in additl
hey rest upon the faith ofthe Governm
hr their redemption. II all these ass
nces are not sulficient TO make III
AVAILABLE. then the idea. rs il seems TO
diurnishing q sound paper medium
Exchanges. may Be entirely abandoned
Il a lear be inlu gel that the Gove'
aenl may be tempted to run into exces:
y issues, a, any tulnre day, i seems to
,aasno such apprehension can reasona
@snerlained. until all confidence 10
representatives. OF The States and Of
people, rs well as the people themsel'
snail be lost. The weighliest conside
ions OF policv reouire that the restrai