The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-11-24

idea of some little danger remaining for
them. Where would be the benefit ofissa-
ing e. .Bs.z bascd-on the revenue iyIngi
dormant in these tganlts. Surely little
or none except TO the U. s.. TO the
amount ofthe premium as9per No: 9, and
would this compensate for the risk OF gl.
wing out their responsibility, when the
Yery money on which they are based.
might be among the missing by the, time
these bills should come back 10 be redeem,
ed! - x. - ~ Il
Ifafter such an institution had been IN
operation few years, it should be found
that the amount Of e. BIS. in circulation
were so grea. that the revenue was entire.
ly or in great measure collected inthem,
and they paid over 10 the Commissioners
and "punched" as per No. IA, then, indeed,
the same amount Of new bills might with
propriety be issued 10 the puolic creditors.
THERE'S no objection TO No. A, unless
those make it. who are desirous of safe
plan ofdeposite for the root of all evil AS
to No. 5, there might be places where
offices would be required, and yet the
amount of business not sufficient TO war
rant the expenses Of three commissioners.
See last clause Of No. 6. which is very
good, and justifes the above remark. No.
I. is very well, even the last clause, pro-.
vided the issue to the public creditors IS on
the same amount Of E. Bills, !" cancelled
and purchased" and not on account OF
any other money received for revenue; or
that as before stated, should be paid out
al the first lawless chance-surely no is:
sue of E. Bills would be allowed to pub.
lie creditor, unless there was balance OF
money in the Treasury, or a special act
ofCongress. No. Sis well enough, for
probably it does not intend the bills shall
be exchanged or passed from one to anoth-
er in the community. Nos. 9. 10, lL ~,
l3. ID, and Is are very good, provided
they conform to their beinga less number
of commissioners in Offices located in .Pla-
ces when the business would not require
the full compliment. The great fault in
this projectis its impracticability to keep
up a regular and uniform state ;.of yEx-
change, which is, and alwaysl,as been, and
always will, ,be'lill supplied, the great want,
of the country. This was the strongest
argument in5fmvor ofa u. s. Bank used,
by its friends, and the only rederming
thing about it admitted by its opponents.
Aud ii surely can be supplied SO far as
premium on exchange, whichmay be want
ed as remittance. NosonesWonld object
to exchanges being at a discount, except.
the seller.-and5 he, if in good credit, and
also The person OH whom he draws, need
never submit, (provided the country had
such an Institution asit ought TO have,G
to agreater discount than theexpenses of
Transporting specie betweenthe Two pia-
ces, and the loss Of interest for the time.
And to bring about this ye:y important
state of things, il sonly necessary to rel
quire the commissioners of one Office
TO draw on another office whenever a per.
son tenders them specie, or bills efSspecie
paying banks in the vicinity, for suchdraft
charging premium only sufficienttoc Gov:
er all expenses If transporting the specie
between The places. Without something
Of this kiad. the people never will be sat
isfied, or commercial affairs any way
REGULAR.