Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1841-06-12


So. Without the privilege of alteration hOenl
discount will be made.
Advertisements left without directions as 10 the
length Of time they are to be published, will 10
continued until ordered out, and charged Accord
ingly.
C-rSxtcen lines make square.
--.-s.s---.s---..n,znrr n,znrr-z..a.s~v~-ry---rss-s
ded to, will serve best to show the effect Of the
whole system. The average eaes Of the pubic
lands, for period of ten years prior 10 1894, he'd
not much exceeded 1000 900 per ennum. In 1884
they attained in round numbers, to the amount
Of So 900 600. In the succeeding year of 1895
they reached SIC, 100000. And the next year Of
1886, they amounted 10 the enormous sum o. S25.
100000. Thus crowding into the shor. space Of
three years upwards of twenty-three years pur-
chase Of the public domain. 50 apparent hal be-
come the necessity ofauesting this of things,
tha, .he Executive department assumed The highly
questionable power Of discriminating in the funds
to be used in payment by different classes Of public
| debtors--a discrimination which was doubtless de-
signed 10 correct this mos, ruinous state of things
by the eIsction of specie in all payments for tho
public lands but WHICH could no. at once arrest tho
tide which had strongly set in. Hence the Go
mands for specie became uEceasing, and Cores
ponding prosrs ion rapidly ensued under the ne-
ce.sities created with the banks to curI their DIS
counts, and thereby to reduce their circulation. I
recur 10 these things with no disposition to eensura
pre.exs,ine administration Of the Government, but
simply in excmpliGcation Of the truth OF the posi-
ton which have assumed Ii, then any fiscal
agent which may be created shall be paced w.t.ou.
due restrictions, either in the lands OF the admins.
traitors Of the Government those Of private inji-
viduas the temptation to abuse vii prove to ba
ressiless. Objects of political aggrandizement may
seluce the first. and the prompnngs Of a boundless
cupidity will assa the last. Aided by tto ,I1cri.
ence Of the past il will be the pleasure of Congress
SO to guard and forlify the public Interests, in tho
creation of any new agent, as 20 place them, so fat
as human wisdom can accomplish it, on footing
of perfect security. Within few years past.
three diff rent schemes have been before the country.
The charter Of the Bank of The United States expi-
red by its own limitations in 1886. An effort was
made to renew it, which received the sanction Of
the two Houses Of Congress, hut the then Presi'
dent of the United States exercised his re.' power.
| anu the tne9SuIe WIS uCleittu' - ''H w HeN'
requires me to say ,ha, the President was fully sus-
tanned in the course he had taken Ivy the popnar
voice His successor in the Chair O. State unqual.
fedy pronounced his opposition to any new charter
q of similar institution; and not only the popular
election which brough, him into power, but the
elections through much of his term seemed clearly
: to indicate a concurrence with him in sentiment on
the part of the people. After the pnbic moneys
n Withdrawn from the United States Bank, they
o were placed in jepostc with the State hanks. and
the result of that policy has been before the coun-
e try To say nothing as 10 the question whether that
l. experiment was made under pioPi,ious or adverse
circumstances it may safely he asserted that /, did
E. receive the unqualified condemnation OF most Of
its early advocates and il is t'ieved was also con-
in demned by the popular sentiments. The existing
v. subTrcasury system does not se'H' 10 stand IN
ID higher favor with the people, hrt has recently been
j condemned in manner too pain.y indicated 70
Il. admit doubt. Thus, in the shor, period of eight
re years the popular voice L.. be REGARDED 90 having
10. successvey conderncd each OF three schemes o.
sl finance 10 which have odveriel. As to the frs
i, it was introduced time (lsl6) when the STATE
" hanks then comparatively few IN number h7,
IL been forced suspend specie payments by rea'o'
e., Of the war which had previously prevailed Will
n Great Britain. Whether, il the United State
Ii. Bank charter which expired in 81 had been re
he newed in due season, it would have been enable
he to continue specie payments durinS the war an
be the disastrous period to the crmmcrce OF the coun
c, try which im,nc'ia!>'y succeeded, is 10 say IN
ID least problematlcsl and whether the United State
n Bank Of 1916, prodrced a restoration OF speci
,e, payments, or the same was accomplished throus
TO the fundamentally Of other 'nc~s, was mater
i'd some difficulty al that time to determine. Cer'al
m, it is that for the first years Of the oper2on Of th'
MI Bank its course was disastrous for the create
uc part of its subsequent career 1t became emnentl
ad successful As TO the second, the experiment WI
as tried with redundant Treasury, which continue
nj to increase until it seemed to be The part Of wSdo
as to distribute the surplus revenue among the State
inc which, operating at the same time with the spec
zen circular and the causes beioo ady,Ilol 10 cause
er, them to suspend specie payments, aud involve
Of the country in the greatest embarrassment. Ant
eff as the third, If carried through a the stages
re- its transmu,aon, fIom paper and specie TO no''n
ov- but the precious metals say nothing of the inst
IN. curity of the public moneys, lis Injurious elec
Sc. have been anticipated by the country in It's III
bic qualified condemnation. Wha, is now to be II
~, garlel as the ulsemen of the American people
| - L 4. I Iarn