Mobile daily commercial register and patriot., 1841-09-29

AFIscAL AeENT FOR THE GovERNMEET AND CURRENCY AGENT FOR THE PEoPLE.-The fol- lowing plan for agent above described, appeared contemporaneo,iss in the Globe and Madisonian newspapers, on the 18th inst. The Madisonian says it publishes il for what t is worth, but expresses no opinion of it's pr,cticability The Globe says thing. We think it worthy sf great considerations An intelligent gentleman of thls city suggested the same plan to some weeks ago. Read it.
 Let government establish Repositories for the safe keeping of it's moneys all the important coinlner- cial popts throughout the union. Call these deposi- tories, agencies, offices, banks of dcpUsle sub-trca suries, any thing else fancy may suggest. Place each of Llem under the of three different Indvi- duas, of whom shall be called receiver another cashier and the other teller. The receiver should receive the cashier should keep, and the teller should pay all moneys deposited. Let each of these of icers be ppolnted4y the President, by and with the advice and coJlsent ot.the sepate Give to each one of them. wleq necessarys an assistant, who shall act as frst hook keepern his department and who shall also receive his appointment from the executive and senate. lfdeemed necessaryOr wise, after full dis cussion, let the constitution or law be amended as to secure to the President, relation fhose officers, Ihe power of temporary suspension, but nut of final removal without the consent of the senate.
 Let the obligations of duty resting upon each and all of them be of such character and prescribed as to make them auswerable, in some measure, for the misconduct of each,as will compel them to watch, supervise and check each other, and report delin- quences, when discovered, to head quarters.
 Thus far, the interests of gOternment alone would be provided for but the necessities of the people qure the agency of scheme which will furnish them with a national currency, medium of change of un1oubted, su6stafiaai aud uniform UaDe- In order to accomplish high benefit for the
 y it is proposed that government should cause to be prepared suitable quanty of certificates of deposite treasury notes, in denominations of twenty dollars ana upwards, and in convenient forms and wh suit able engraving, for circulation amongst the people. Let these certificates of deposite treasury notes be distributed Emongst the different government de- posItores in such portion as may meet fully the de-
 land for them. Let every citizen throughout the
 try have the privilege of depositng any amount of spe in the Repositories & the right accruing thereup"n, to demand in exchange for the these certificates or notes of government, payable demand at the place of fdeposite specie and rsceidble euy Dhere
 payment of gou9nment dues aud for pnbic lands This privilege would place 1t in the power of every ndivi dual his local bank notes, when payable in specie into the national currency based dollar for dollar on the specie deposited ,receiyabe at all points
 for public dues, and endorsed by the highest authori ty and best guarantee known the people-that of their own government The quantity of such national currency which would thus be brought into circula- Ion would be precisely commensurate Withthe demand for it-no less and probably The regulating power state banks exerted through the voluntary | action of THE PEOPLE in withdrawing the specis
 
 renew would prove to beabundanty sufficient; potent | bspond resistance. ;' . f-
 Tine tendency of this process would be to encourage
 the introduction and retention of the precious inetals and sustain practically the gold and silver standard | of vaue--a line of it's duty which, the Government seems studously and purposely tb have avoided from | I791 to 1887. commendation the most conclusive and decisive in favor of such scheme of furnishing
 national currency IS, that totally excludes the use of the public money by public agents indi, iduals .su nl nf hill change any other act of oanng money, granting facilities of credit It would have stockholders
 lenders, debtors, nor borrowers. Newspaper editors politicians, spectators, stock jobbess any other class could get accommodations from it. Its issues would be confined to the specie depositor-w be predicated upon and limited by the specie depostes The specie depostes under the operations of trade and business, would be faiy equal 10 e jst wons of
 he country for currency especially 1otionai cuTen- en- When desposited, the specie would be represent ed in the business of the country by the very best and most truthful representative that could be devised.
 Under such system, the productive labor of the country would be the money creating, the money making power. The money power would be separa- ted from the political power. The money power grows out of right the power 10 money; and the use of money, public private, is totally prohibited and excluded from the operations of the system. The government would simply become the Keeper of trea- sure of the nation and in it's issue of certificates and notes to individuals would incur other obligation than such as would be incident to Bank of Depos- te, or to it's character of keeper of sich moHeys riis relation to the public would afford the most effective facilities for borrowing money in and All public emergencies Proposals from the govern ment to exchange it's stock, tearing reasonable uf interest," for it's certificates notes in circulation, would be readily embraced by money holders. The result would be, the funding of such certificates notes by the government and the immediate possess sion and of the specie originally deposited in change for them; greater facility and prompt mode of realizing cash in any emergency than could be afforded by any other scheme yet devised.
 An indispensable feature in the scheme would be the collection of public dues erciusiueiy specie and the certificates and of government issued in change therefor. Any connection with local banks or the banking system Is totally excluded fom the scheme. No other bankingIoperatiOn would be ne- cessary than the transfer from point point for gov ernment proposes, of the certificates of gov ternnent fecefved in payment for public dues. Or fl government paper should be valuable and n- divduas should prefer ts pay their dues to govern- ment in specie, transfer of such funds would be necessary, inasmuch checks drawn by government upon specific deposites at the commercial points of the country. would generally be more valuable than the specie tsel and consequently readily received in payment of government debts hy government credi- tors In this schene all constitutional objections are avoided-no Fiscal Corporation nor Bank of Discount is established. , ..,.s.. -.5.5 5.....
 A Fiscal Ageni for the Government and Currency Agent for the people is provided with unlimited pacity to do good and no power to do harm
 A national currency of the highest possible value and credit, fully commensurate with the resources, the uses and necessities of the whole country, would be the certain and inevitable result of its operations
 The above brief outline of system of joint fiscal and currency agency is submitted to the considera ton of the Administration of John Tyer and of the people of the United States, by .l.-sf+tr
 A MEMBER OF THE 27rH CONGRESS.
 Washington, September, 1S4l.