Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1841-12-16
THE FISCAL N

The Fiscal Agency proposed in the
Presidents Message, calls forth extended
commentaries from the press. The New
York Courier and Enquirer views tho
project with decided favor. From a long
review 10 that paper of yesterday, on this
portion Of the Message, we extract the
opening paragraphs:
THE MESSAGE.
The more We effect upon the principal
feauture of this document, (the fiscal pro-
jet,) the more IT commends itself TO our
approval.
The wisest heads in the Nation have
long thought that the Constitution Of the
United States intended TO guard against
the issue of a paper currency by the
States and we are pleased to perceive
that Mr.. Tyler entertains the same opin-
ions. We agree with him, too, that il is
now too late TO restrain the States in the
power they have assumed ; and such be.
ing the case, we cannot withhold our cor
dial appreciation of his recommendation
that the General Government shall re-
sumo its original powers and furnish to
the country a currency which shall be
oOuItu DCN Oiu dl ~ ftt'ot oAo ~
shall be based upon the credit Of the Gov
eminent itself. We have ever been the
advocate of a National Bank ; and the
more National the better both for the peo.
pie and the Government. True. we have
rever advocated a Government Bank, and
for the very good reason that we suppos-
ed the time had not yet arrived when the
people were prepared for such an institu.
ton. But the experience of the last few
years-the general suspension Of specie
payments at one period and the partial
suspension at this moment, added to the
utter arrangement of the currency OF the
whole country-have opened the eyes OF
rejecting men of all parties to the neces-
sity of the General Government coming
into the field and supplying the much
wanted regulator or standard of value.
That a Government Bank, with the
power to discount, would greatly iaclll-
tate the great object in view, we do not
doubt but such power would, unquestion-
ably, be liable to abuse and we are well
satisfied therefore, that this feature in an
institution purely National, should be with
held. With the details Of the projet re.
commended by Mr.. Tyler. we, Of couise,
cannot be entirely familiar until the pro.
JET itself shall be submitted to Congress.
Sufficient, however, IS put forth in the
Message, to satisfy Us that, with such re-
strictions as a Wing Congress will un-
doubleday place upon it, Mr.. Tyler's pro-
jet may be rendered equal to all the al
of the country.
The New York Express is even more
favorable to the plan:
From the Mem York Express.
The plan of Finance submitted, we
have heretofore expressed ourselves ia
vorable to, as the best zoe could get, no,o
that a National Bank is impossible. About
its details, no doubt there will be great
difference of opinion-but the President
proposes to US a good credit system on a
sound basis. 1t will give us a currency.
1t will aid in regulating the Exchanges.
1t will enlarge the sound paper circula'
ton Of the whole country. We shall
have much more TO say on this subject,
when we get the plan of the Secretary of
the Treasury.
The New York Commercial also APP
proves OF 1.-THE American does not like
it-and the Loco Foco presses rather
condemn it. The Richmond Wing dis
approves of it altogether, and so does the
Globe.