Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-10-12
mo. ".

german ITO the SUBJ Treasury, which
is put forth by the Madisonian, is the
only measure we can conceive Of that
will bring about these two objects,
Notwithstanding Mr.. Tyler SAID in his
Inaugural Address that the "sub.
Trasury had met with the unqualified
condemnation of the people," and was
repealed through his fundamentally.
There is, however, slight difference
between this spawn of his tickle and
dreamy imagination and the sub Trea-
sury; but this difference does not strip
it of the danger which was SO Just
~ apprehended from the operation
of that scheme, which in the Presi-
dents estimation, the people so I'M
qualified condemned.
The two schemes differ in three
material points, and in these the "con-
demned scheme" is far less exceptional
bic as a measure of finance. The
Madisonian's project will require more
than double the number of officers,
and it is TO possess power to issue GER
tlicates of deposite, or government
notes, and does not make defalcation a
capital offence. Thus the Presidents
patronage will be increased, fatal APP
proach be made towards establishing
dangerous government Bank, (which
all parties depreciate as the union of
the purse and the sword in the hands
of the Executive, and quadruple inn
petus impaired to peculation upon the
public money.
| Ii this is the measure that the Presi-
dent intends presenting to the ensu-
ing Congress in lieu of that system of
finance which has been tested by ex-
perience, and was established by the
"father of his country" and impaired
to 1t highly prosperous condition du-
ring Its operation, he may calculate
with some certainty upon the support
of the rnbid Locofocos, but the intelli-
gent of all parties, who are in favor of
"a separation of the purse and the
sword, the curtailment of Executive
patronage, and a rigid accountability
oil public officers, will repudiate the
scheme.
But to the project;
| Let Government establish deposito-
ries for the safe-keeping of its moneys
at all the important commercial points
| throughout the Union. Call these de-
positories, agencies, offices, banks of
| deposite, sub-treasuries, or anything
else fancy may suggest. Place each
OF them under the care OF three difos--
| ent individuals, one 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 out all moneys
deposited. Let each of these officers
be appointed by the President. Give
to each one of them, when necessary,
| an assistant, who shall act as first book.
keeper in his department, and shall
also receive his appointment from the
Executive and Senate. If deemed
necessary or wise, after full discussion
let the Constitution or law be so
amended as TO secureto the President
in relation to those officers, the pow
er of temporary suspension, but not
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 so prescribed as to
make them answerable in some mea-
sure for the smisconduct of each, as
: will compel them to watch, supervise,
and check each other, and report
deliquencies, when discovered, to
: headquarters.
Thus far, the interest of Govern
: ment alone would be provided for
: But the necessities of the people re.
D quire the agency of some scheme which
: will furnish them with a national cur
e rency, or medium of exchange, Of I'm
:, doubted, substantial, and UNIFORM rat
IS ne. In order to accomplish so high |
v benefit for the country, Il is proposed
: that Government should cause to b.
prepared a suitable quantity Of certifi
) Gates of deposite or treasury notes, ii
! denominations Of twenty dollars ant
n upwards, and IN convenient forms anC
r with suitable engraving, for circulation
ii among the people. Let these certifi'
! Gates of deposite or treasury notes bt
4 distributed among the different Gov
: eminent repositories in such proper
Is ton as may meet fully the demand 70
: them. Let every citizen throughout
\. the country have privilege of deposit
a. ing any amount Of specie in these de
"a positories, dthe right ACQUIRING there
Il upon, to demand in exchange for tn
b. came these certificates 6r1oles of Go,
n eminent payable on demand at II
aRplace Of deposite nj specie and Yecei,
a able eseYyaDhe7e nj payment Of Go
lis e'naseaU dues, aud for publsc lands
/. Hoes vs. WHALEs.-It is fact say
I'll the Journal OF Commerce, Of no small IN
" portance to the monarch Of the deep, tn
aay process has lately been discovered
i which snernaciti oil and candles are maj
- u T,r,rrs5 Ia ri at fyO(