Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1841-08-26
,yncHnUKG. AUGUST 26. 1911.
TIE NETO-IiIE VETO MESSAGE
ANOTHER FISCAL. AGENT.


The remarks Of VI ssis. Calhoun and Benton in
the Senate. Friday Issr, well as the con,ntnia.
Of leading Loco Foco journals show t a, there
is a bee in their bo'ner;' and it may lie, after ~
thai b. fore the actors in The drama shall plays.
the play" they viii wish they had never burned
powder in conncmoralion Of an act, which, howeye,
moulfyng i, may have been TO the great body of
the Wing, has il it probably of graduation
10 theu selves In other words there is as these
eertl,mcn perceive wide distinction between The
Jtto AID The JetO MtSSdgc-in otter words that
al hough the particular TOM Of the Bank embraced
IN the vetoed bill is repudlated. the power OF Con-
gless TO ofgan'zr Fiscal Agency in another shape.
is obviously recognized. The Richmond +, qnlrer
sa" THIS At eancr. II perceived thai the Presi-
dent adn'med, by necessary inference, though we
cotc' de ~ in txptess terms that lie in ,,o, Of
Fiscal Agent. whose custody the public moneys are
10 be cuff led, and nh power purchase aud sell
ILLS Of, xchAnge; & with piacsed dexerty, tha, pa
per assduousy SET sefto work TO convince Nh "
Ter lhal he really could have intended conyeyany
such meaning, because in is OPP Mon, the dtscrin-
inalron. in constitutional point Of view. between
Bank Of ID .scounts and Bank Of Exchange is -,
ridiculous" Well--we happen to concur, Tor once,
VI VI '"'''h "''h NV p'hc'' 'h" ~ Z"
without difference" But it does not follow that
the President must necessarily entertain the same
opln on. lie may perceive very vide difference
thou- ia none be APP aren't to the Enquirer or our.
selves; as persons who once plugged into the
vortex q p"IIcal me'arl,scs, with great ia.
clny conytn mUle-lills into mountains. and mapni
~ the l"lr.Ine wh'ch separates the Mahometan
he'll from Paad.se into bridge broad cnoughto fit the
foot oilhe most obstinate hereuc. Tie Pfes,let
must have meant that lac would approve of, Fiscal
Agency. 80 "fgaulzed, Tor Two reasons. FIRST, he
must tel the nenSSS'y oi some system, for Gown
mental rnri o>es. s"ceby has own prompt and cheer
tul a qlIescence, the Sub Treasury law has been
repralcd-uurss lie intends to lncurIhe ,ebnke olhs
Loco Foco f. eud,, Que OF whom (the n. Y. Even
ne pos) has the honesty to tel him. that, by veoin5
he Bark bu' aud abollsling he SuL-rreasury. al
must smut ancou>l, he has virtually put the public
purse into his o,en Pochet-and certainly good
VIII. or Coasercitre, who de ounced the Sub
Treasury manly un account of its tendency to
transfer HE public funds from the custody of c u
ercss the rontu of the Pres dent, for moment
tolerate rln idea, con,en, to The existence even for
a1noni, of sa,c Of things which leads that re-
sub. Aud secondly, Nj. T,er's Observation-Disclosures
''''" " biSIobH' - H'' btttSsdiS proper III
'rumeut to manage the fiscal concerns If the gov
EN- ent, While he labors TO SNOW that Bank OF Elk
chan4els adj qua c to lhIs purpose, well as lnc
dental, 10 reg late lie exchanges. must have been
intended TO Intimate his preference for such b ,nk
or Il meant nofhiHg. Aud We should hardly deem il
courteous 10 The Pres ut to suppose that he
"ioding the word ( prom Sc TO the eaI," with tie
preun daHtsd purpose Of breakl Q ii should lie be
brought To The test. The opinion base upon these
reasons, too, derives f rlher cot fl nation from the
fcr, thai the Maids MAN, which is believed 10 be
the author zrd organ of Executive opinions. advo-
Gates a Fiscal Agent, $40 collect, keep and d,burse
'''he public 'evrn"es-'o sYuPpiy currency in cleh
'atose rettaues may be received ard mandetd-and
ITO cheaper and eqn'Iz, the exchanges uf the
"c9unry,' We repeat here what said in
last paper thar IRE cannot find any constitutional
thorty 10 establish Bank Of ,hs character, which
will mol Justify The Incorporation Of a Eank of Dis
counts; unless indeed it be that the President
deems the former 'necessary and proper" Willie lie
does not regard the latter IN the same light or
| course, in that event, the Distinction is obvious
enousl-no II is rue, in the constitutional g,a,,
of power, but in the Presidents peculiar Len.
s'fuc'ioo Of that grant. Bat whether there really
&
President Is IN favor Of, and will approve Of such an
Agent, # ii be concurred in by Congress.
For II purpose Of meeting the extraordinary e.
mereency which has arisen, il will be seen that on
Fnday last, Mr.. Sergeant. If nnsylvana, intro
dnced int the House Of Representatives bill pro.
posing another Fiscal Ageot, differing from the for
ner bill IN these leading features, 10 vii: reducing
the capital from s. 81 millions with the privileg.
Of increasing it to s. instead Of so millions pruv
ding Tor agencies instead Of iccs of scount in the
several States; and conGuing its dealings to the pur
c'iase aud sale &C foreign bills Of exchange in which
~ ard pay able in another What vii be he fate this
hhI We ave nor prepmcd 10 say. Our own opinion
would be adverse to II it were matter Of choice he
hesng, as we do, that the system will not realize
the eHpPctauns Of its friends, and that we shall be
again subjected to the haz ds OF an un led "exper-
men,' instead OF fhllIn, back, as reason and con-
mon sense tell us that should do, after eig
yeas OF confusion aud GeranLement upon plan
tntd and tested, and which not only fulfilled but
surpassed all The sanguint ancipaors Of Us most
ardent 'rl"nls. But as an alternatives and under
CONVICTION OF the importance of drvsing some sys
tenn Ter the management Of the pubic finances,
hre may pass. lii is not in the opinion of The
great body olrhe Wing party, the wisest pl an, IL
q I've - host II H.