Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-10-22

Local. Bi>as Asp TEEasrEI NoTIs.-lhls Is 10 be
the Management OF tie national finances Al some time
~. Tar distant The pol cy ola National Bank and at
oi Treasury, both gone forever In our JUDI,
.nrul there j. but very moderate minority IT the peo.
plc N favor Of either plan and Bank there
~ III which co.d be created by Congress- that
wonid be accepabe 10 capitalists 4 Bank, tsrcforr i
trvbv vetoed As 10 Sub Treasury, Congress, 80 d.
poscd would need cooperation ~ re establishing that
t,r ,ry have all the physical power necessary 10 uid
dozen great boxes and set man 10 watch each on
Of them To separate the State from the Banks, however
i IL yond the power Of Congress The administration
cannot 20 on si, IT, hnancA! affairs without using 'hc
crea, financial arrangements which business has pro-
yi!ci To separate the business Of the Government
from that of the people, or 10 swallow up b"'h III ii-
hrcat Of enormous inonscr-boh are plans which,
has had their day. and are not TO have II aghn, ana
me shadowinr OF what IS TO come are very distinct
The measures Of Tie Extra Session, what done,
and what not Done brought the Treasury III an IN
slant liz right position, and placed liz movements IN
70. operation with the general movements OF business
The receiving, safe keeping, and discussing OF The
public revenue, never Lr:tc. performed than al
present. Why should the arrangement be changed
How can it be changed; II ought not to De changed,
and itcannot be.
national p3pcr currency viii be formed al once, OF
Tie very best sort, b. cbeyng The dictates OF oifcu
stances The revenues Of The nation somewhat de.
iccnt growing deficiency IS not 10 be tolerated bur
permanent deficiency Of ten nil;ons Of dollars 81
twenty millions, (lhe deficiency Ia be supplied by
Treasury notes } would furnish national currency o
canal value every Where perfect credit every Wherc,
and possessing all the Gna!,s tor usefulness that II IS
n,.sibe To find III national currency. The fact that
near seven millions and hail 81 Treasury notes
now IN ciicuIal,on, Of them bearing than
five per centum interest, wAtie scarcely orc halt !"
much can be raised by loan ii per cenun, sEe"s
haw vsry convenient to the people are Treasury notes
II len millions Of them were made III denominations
If FIVE 10 fifty dollars without interest, and equal
.ru IN demon, Nations d. hundred 10 thousand
dollars bearing interest Al tie rate Of IKE per cent,
Al redge mabc future fixed pc''ods IN sr'c,t, ana
receivable al al II payment OF all dues to H."
Government the hole AMOUNT could probably De Kept
oar. and al par everywhere. They could BE- paid out
whenever there was deficiency al the Treasury,
and returned as they upon flowing Fesenur,
and so p.ea, object he attained, which neither the
Banks nor the Sub. Teosury could accomplish, VIZ
the prevention "f either surplus deficiency III
The Treasury These Treasury notes would d. every
thing 10 regulate trade and facilitate exchanges winch
could be usc!uy performed by any national arrange
,ucpt The whole country would be benefited IN eve
~ way, aud injured III no way Politicians would
then tind il impossible create heats about The cGt-
rency The local banks woniL ind themselves regn-
lated and aided but oppressed BY TINS plan VI
Il, tie schemes which have been put foIth, there no
one "a he compared with III for the absence Of niis
;ev,,s and tie OF useful quantities; ard as
10 cheopness Il not only os:s nothing, but prccu'es
| the loan Of len millions without any interest ana tea
millions more al per cent. year less Than II can
j., ah,,,ned IN any other form. We mny therefore :ct
down the national profit ct 'Le pian al SIX per CEN, on
~, l,,ong II dollars sS hundred thousand dollars
ANNUALLY THIS is plan which politicians Of al pa!-
,,s were too wise 10 taodgh Is Inconparably
,erir 10 all their coniryaEccs But necessitys roa
tiauer has II last poin'ed 4 oGt.
rNtr YorE .Iouraai Of Co,7necc.