Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-06-16

EH~ I
pred by IFS own limitations in 1885, An effort cl
was made to renew it, which received the sane "a
t.on OF the two Houses of Congress, but the Il
lnen President OF the United States exercised d.
ms VETO power, and the measure was defeated Lin
regard TO truth requires me to sac that the II
President was fully sustained in the course he al
had taken by the popular voice. His success b
or IN the char of State unquaIifedly pronoun- s.
ceu ms opposition to any new charter Of SIM il
lar institution andnot only the popular cleo I
ton which brought him into power, but the n
elections through much of his term seemed 5
Clearly TO indicate concurrence with him in I
sentiment on the part of the people. After the t
public moneys were withdrawn from the Uni {
ted States Bank, they were placed in deposit
with the State banks, ard the result of that po-
hey has been before the country. To say no.
thing as to the question whether that expert
J ment was made under prOptious or adverse
! circumstances, It may safely be asserted that
l It did receive the unqualified condemnation of
most OF It's early advocates, and it is believed
was also condemned by the popular sentiment.
= The existing Sub Treasury system does not
y seem to stand in higher favor with the people,
e but has recently been condemned in a manner /
: too plainly indicated TO admit of doubt.
C Thus. in the short period of eight years, the |
= popular voice may be regarded as having sue
= cessvely condemnedeach of the three schemes
e OF finance to which have adverted. AS TO the
l. first, it was introduced at time (lSl6) when
> the State banks, then comparatively few ia
s, number, had been forced to suspend specie
III payments, by reason of the war which had
e. previously prevailed with Great Britain. Whe-
10 ther, the United States Bank charter which
expired in 1914 had been renewed in due sea-
ee son, it would have been enabled to continue
o, specie payments during the war and the disas-
e..SI4 -, al Ok,
r. which Immediately succeeded, Isl to say the
10 least, problematical f; and whether the United
he States Bank of 1916 produced restoration Of
Ia specie payments, or the same was accomplish
su- ed through the fundamentally of other means
)ut was matter of some difficulty at that time 10
determine. Certain it is, that for the first
nd years of the operation of that bank. its course
led was as disastrous as for the greater part of its
ids subsequent career, it became emnently sue
ice cessfui.
/ of As to the second. the experiment was tried
es- with redundant Treasury, which continued
100 to increase, until it seemed to be the part o
3d. wisdom to distribute the surplus revenue a
on nonc the States, which, operating at thu
ars. same time with the specie circular, and tn
,n- causes before adverted to, caused them to sus
, of pend specie payments, and involved the coun
ub- try in the greatest embarrassment.
YER And as to the third, ifcarried through all tn
, a. stages of its transmutation, from paper al
oun specie to nothing but the precious metals,
Ihe say nothing of the insecurity Of the public mt
the news, its injurious effects have been anticip
rept ted by the country in its unqualified conden
iev- nation. What is now to be regarded as Il
& 10 Judgment of the American people on this who
for subject, have no accurate means OF d9term
by ing, be but appealing 10 thep more llleu ia
,,obt representatives. The late contest which te
,ts of minated in the election of Gen. Harrison
most the Presidency, was de ided on principles W
rim known and openly declared; and, while
enne Sub treasury received in the result. the mc
avs decided condemnation, yet no other scheme
70 fn- finance seemed to have been concurred
avoid To vou then, who have come more direc
I the from the body of our common constituents
thus submit the entire question, as best qualified
will give full exposition OF their wishes and op
ances ions. | shall be ready TO concur with you
Q onr the adoption of such system as you may ?
time nose, reserving to myself the ultimate po'
Urtb of rejecting any measure which may in
view OF it, conflict with the CONSTITUTION,
i'm of otherwise ieopardse the prosperity of
Cor a country: a power which | could not part v
,craa- even if / would, but which will not bell
ement anv act of yours will call into requsition.
secure beq leave particularly to call yolr at
,nomv ton to the accompanying report from the
atoms retary of War. Besides the present stat
,ch an the war which has so long afflicted the II
tbo &c tory OF Florida and the various other maj
vaiue OF interest therein referred to, you Will
The os from il that the Secretary has institute
rsdonn inquiry into the abuses which promise to
',onds veiope gross enormities in connexion witt
rat;ons Indian treaties which have been negotI
al lint as We as in the expenditures for the rem
raoar- and subsistence of the Indians. He n
,th IF SCENTS. also other irregularities of serou
,;rcul1. ture that have grown up IN the practice Q
,n,,orn- Indian Department. which will require tn
bo form propriatian of upwards of 100000 dolla
a,t,s no correct. and which claim the immediate
I liberty tention of Congress.
y as so In rejecting on the proper means OF dc
q exno- inc the country, we cannot shut our ey
,strv to The consequences which the introducuo
cal CON use of the power of steam upon the ocea
;es. NAV likely to produce IN wars between mar
nrevail States. We cannot yet see the extt
instantly which this power may be applied IN the
contrac oerent operations, connecting itself as
coass;on with recent improvements in the scler
8 aJven- ounnerv and proiectes, but we need h;
. S,ates Tear of being left in regard to these thing
80 faI hind the most skilful of other nations,
ebange genius and enterprise Of our fellow citlz
l,;nds ra- ceive proper encouragement and OIL
led. and from Government.
Efforts to True wisdom would, nevertheless, Sc
on their dictate the necessity of placing IN perieC
of fittings diton those Notifications which are dc
for the protection of our principal cit
nd To the roadsteads. For the defence of our ex
blic reve- maratime coast, our chief reliance she
,n1 Bank placed ON our navy, aided by those INV
Of laie which are destined to recommend theI
ate Banks to public adoption. But DO time sh'
We of con- lost in placing our principal cites on
1tnr their board and the lakes in state OF entire
emit, enlar- from foreign assault.-Separated as
Tins ena- from the countries of the cd world
the same. much unaffected by tner policy, we a
uch. slim pilv relieved from the necessity OF ma'
caused Iaroe standing armies in time OF peace
/, If the re-. n.,i7cv which was adopted by Mr..
;ncoTnora- shortly after the conclusion OF the
1nder tenn with great Britain, of preserving re!
,nted, and ganized staff sufficient for the comma
lting nledl- large military force, should necessity
M 5er.p o. arise. rs founded as well in economy
illustration wisdom. Provision IS tlqs ui"ue' II
neriod alu- mn the rank and file, Which can readi,
e effect Of on any emergency, for the Introduc'
ess Of the system Of discipline both promptly an'
lrs prior to y. All that IS required IL saf non
IOOi dollars maintain sufficient number OF men s,
~ in round onr f,rtifcations to meet any sudde
mn dollars oencv. and to enconntef the tlrst sho
/ e OO0. 600. 9Inr chief reliance must be placed OF
20 The enor- ia. Tbey constitute the great body
1fbns ROW gnards and, inspired by an ardent loV
,,o,rs nm srv will be found ready at all tunes:
yS".ir ~ n.y. -. - -onair with aacritv to It