Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-10-16

elusive aud decisive Ia favor ct such scheme Of
furnishing aR1uonal currency i, that II totally
excludes the use ct tho public money by pubic
agents 81 individuals, the discount OF pIon'sso'y
no,ss, " OF Dus, OF exchange Of any other act ct
losn,ng money, OF granting iaeihIOs Of credit II
would have no stockholders, Lenders, debtors nor
borrowers Newspaper editors, Poluclans, spec
ulatotG stockholders, or any other class, could
get no accommodations from Il lie ssnes
would be confined to he specie deposition
you'd be prsd,ca,ed upon aad limited by the sPe-
CO deposits. rhs specie deposits, under lhs op.
ers',oDs Of uads and business, would be fully
equal 70 Ihs Jus, wants OF the county for y cur.
roaey. sspsC,aly . National currency. When
d-yos ted, the specie would be represented X 'hs
business Of the country by the Vsry best and
most truthful representative that could be deyls.
ed.
Under SueA a system. he productive labor OF
he csunlrJ uoud be the moneJ creating, money
maA'ng power The msOsy power would be
separated from the political power. IGe money
power Elo~s out OF the nght,'hs po~ef to use
money; aud the use vi MONEY. public OF private,
u totally prohibited aud excluded tom The opera.
tons Of The system. The Government would
SIMPLY bscon. the kespsr al he Treasure OF
The nation, aud in lie issue oil csuihcsiss,ot notes
to individuals, would lncmpN '.her obligation ,hAs
such g. vooldbs incident 10 bank Ol deposit OF
to II, character OF kcspef Of such moneys.
THIS rsanoI H. the public would aaord The most
effective iaclIlhes 10, borToNng money IN War add
all public suegeRcies Proposals ifom the
Government 80 sNchAncs lis STOCK. SeannA e
reasonable rate of tntsEesi. fer IT'S certificates OF
notes m circulation, would be readily embraced
by money holders The result woud be, the lua.
ding OF such osruhcStsS OF notes by he Iovsts.
mcnt, mud the mined ate possession end uss VI
the specie originally deposited N exchange tpr
them: greater facility and more p,omp' mode
of realizing cash IN any emergency than could be
Afforded by az, other .chrmc get devised.
IA indispensable feature ID the scheme would
be the collection VI the public dues exclusively
IN specie aud the certificates and notes OF the
Government issued IN exchange therefor. Any
connection with local banks or the banking sys-
tenn Is totally excluded from tue scheme. No
other banking operation would be necessary than
the transfer from point to point, iOr Government
purposes, of The certificates OF notes of Govern.
ment received IN payment for public dues. Orli
uONtIN'Ul lap'l eh'ih'h w iH'lN '"iS"h'N' ShO
indy iduals should prefer to pay their dues 10
Government IN specie, no transfer OF such funds
would be necessary, 'nNsmucA Ne checks drawn
by Government npon SPECIFIC deposit at the CON
merclal points Of tho country would generally he
more valuable than The specie itself, and coRse.
quenty readily received IN paymcat o. Govern
ment debts by Government creditors. In this
scheme. all constitutional objections are avoided;
no Fiscal Corporation nor Bank Of Discount ia
established.
A Fi,,dl Agent Tor tue Government and Cur
lcncy Agent for the people is provided, with un-
limited capacity to do good and no power 10
do harm.
national currency Of tho highest possible
value and credit, fully commensurate viii the
resources, the uses and necessities ollAs whole
county, would be tho certain aud inevitable re-
suit ol is operations.
The above brief outline OF system Of JOINT
fiscal and currency sgeney ia submitted To the
consideration ol'hs Administration oil John Ty-
Ter aud of The peopi, Of the u. s., by
A MEnnEN Or THt 27rn CoEsEts.
Washington, SepteNlbet ls+l.
tTEEditors throughout the Union nre requested
to give lie aboveS place il Their columns.