Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-06-12


me. And provision OF law declaring that sli Tel
N enumerated articles which bear a smiliIude TO CO
y enumerated article chargeable with duty shall b.
y the rate uf duty with the article which It h
Ost resembles, would save large annually 10 q
c revenue. and prevent much annoyance and lil. vi
,tion between the importer and the officers eharg
- 9TH the collection of customs. r.
n. Ofhe Public Debt. To
.,..,'y not expected that any modification of the 81
'..,.~s will be operative to supply the imm'- Fl
-, 81, - he Treasury, and To pay the debts C
~, the present and in the ensuing d
''' IN Is necessary 10 effect these d
: NV 'e's Oy uesIon that can arise are "a I
the securities. and the ass -, - ~,
Ii would, "a the opinion a.. ,,o'Io-,;,,r.S n.
Gnwise To charge upon the cI,,.,., - H. "a. |
sources vi the country. ia any fof1 m. h,,Jcr nj
paying at once or at all hastily. the .,,,,I Iob,
Before that Is done, measures Of resiofI;o,, 4 no
lief are required. The currency Of the ...,,,v
should be restored. and Commerce and iudx -, 30.
leN cd irum their present state OF embarriS ,,.n,
and depression. and benign aud liberal poN q,
the part of the General Government should cain b
once more the hardy industry and active en'erpSSr
Oi our people. and the resources ofour COUNT,
IL we assume the period Of from five 10 eight year'
as that IN which this deht be paid without in
convenience aud embarraSsmcuI-uud the time APP
pears to I've shor, enOugh-we have one of the most
essential elements on which to firm our judgment
rs To the best and most .euient mode IN which
the loan can he kept Up, and the credit Of the Gov
eminent sustained
la the inception and during the progressive in
crease Of national debt, the issues uf Treasury.
notes. though dangerous and delusiye. have yet
their advantages. They need not be issued faster
Than the actual wants ofthe Treasury require; and
the power issue any given sum u.s. for all eff ci
I've purposes OF immediate expenditures. n funI in
the Treasury available 10 that amount. But when
de1 has quIred lis max mum aud ceases 10 accu.
mulaIe, or when It becomes larger than the amount
| necessary To be kept on hand 10 meet the current
wants of the Treasury, these advanag - disappear
1 hi mode Of loan thea becomes to the Government
what Ihe sale IN market Of new pruuissory notes
Tor The purpose OF raising money To take up old
y omIssUTy notes Is 10 individual II is the issue
Gi Treasury notes 10 take up other Treasury notes
year alter year m succession; and under those CIR.
cums;ances, It Is iuconvsnient and expensive.
But the raising Of money by the issue OF Treasury
notes Is objectionable, because It il decepive hy
this means heavy debt may he raised aud fasren.
Ell permanently upon the country the am,unt oI
new issues being involved with the payment of IN Q
old; while the People, and even those who admin,
terthe hnancesmay not he impress with the impo,
Iani iact that naunIldeOt IL created or IN The pro
cess Of creation
! Therefore. m the opinion OF The undersigned
when national debt does exist and must contir-Is
/ 10. HHle' u is OeUer mat u should be fuHded
/ deb'. according to our ancient financial usage. 4
- Then sheltered by 40 cover and IS The sutjs,t q
no deluson. IL Is open, pslpahle true; the ewes %
the country will be upon %. and will be able al 4
glance TO mark us reduction or it, Incre1sc and II II
believed that loan for the .requisile amount bay
ing eight year, rnn. but redeemabe nI the will al
tue Government. on SIX months notice. could he ne
g'iin'ed al much less rate OF interest Than Treasu
/ ~ notes. Much expense would also he saved ~
1 a no VII, fhc 81.
meni and canceling Of Treasury notes
! 1t Is therefore respectfully recommended that n
sum sufficient To pay The debt present existing
ana such rs VIII NECESSARILY accrue ~ this and ths
! ensuing year, be raised ON loan for the time. and
| on the condition above suggested
! ." Keeping and disbarsiHg IKE public moneys.
Tue under-gned would also respeciG,lly inv iie the
attention OF Congress To the present mode OF keepine
and disbufsing the public moneys; and also 10 IN,
snyect OF The creation or employment of fiscal a
gent TO he charged with the performance Of tbes,
aud Other duties. The subject is one Of great i'm
poTiance, hnlh 20 the Government and the c,,,v,u.,,
~ Such agent or depository ought In unite in IA,
highest Practicable degree. the safety Of the publi,
iHhis' ana convenience and economy IN IheIr nd
mihsiraion; and should # possible be 30 select
ed or framed as 10 exert ialuIary influence over ia,
I business and currency of the coIu,rv
The mode OF keeping anI dis5nrsinr the nubIi,
money provided by the act Of July A. 1910. will b,
i"hiiH' "n comparison with that here o.ore ,che1,
USED ny The Government, eminenlly deficient in al
'he'e essential requisites The financial history o
The United States. especially for the last twcIy.
years furnishes abundant proof that The public IN m
ey Is unsafe ~ the custody orindIyIduaIs md an,
their ofliria bonds are no sufficient s.,prt f, 10
safe keeping and faithful application. Within IN,
PelOd ab"ve named many receiving officer. c,nrec
| 'eu WIN Tho Treasury Department have bccom,
ue'HuIIers To The Government. The arsrceats las,
HO"' "u' cause wIihIn that period as shown l.,
ne hooks OF The Department smounts In 81 ga 5Od
oI' q S''iN pnn ct which will probably he recover
cd from their binds. u IS true that in an, ST.,
which eau he adopted some parr of the ,nb.e 49,,
| ~ must ~ The process of collection ms, ,b.,,
4 "e hhhOs OF individuals. aud be suhiect Il, b, a
'oica''onsi oui the act Of July a. 1910 e.ta,ds So
continues The RISK beyond the perlod az ,,IIoc,,,,
ana u subjects large misses which. in the G,,c,,,
"''s OF commerce. sometimes accumulatss 70 m,
same dangerous custody
! Nsi only IL The puhIic mama. =; II -,
''s more exposed 10 loss from ordiuor, d.ci,
lions Than when deposited IN VOL -,
ou "'' Government Is alsD liable Ia the RI. Of e.
0''''y' ~hd Other Casualties occurt,or c,,b., a.; -
p"V W ''aismis-ion, from which II Is ept,,.I, -,
/ 'o'''u' "heh well regulated bank 4, The l.,.,,s
/ ~ AMI The fiscal agent '''''o
nc present system Is also, in many r.,,oc,.
I ,,r, a"o in'o"NsnisnL Its tendency IL IN cen
. ~
OF INC F'"siesn cities. chiefly at New York To, !.
's '"e great cOmn'erciai emporium Of the Irnit,,
o'a,es' Is Tie point at which fund are the mo-, ,I
u@oie' ""d' therefore. the sought; berce fI,.,
H''o are en'iiIed 10 payments out Of the nutl,,
feas'fy claim Them there. Is true tbe,s l,
genera discretion "a the head Of the Dep,,to,o,l
70 refuse or grant the favsr Of such payments. 80,
u"'s 70 US convenience; but when the eurrsrc, =,
e'a"geu' ana Tie premium or EXCHANGE, ~ Li.L
'hH discretion involves disrrim naii,n =, I,,an =
'pOu"' among creditors equally cnnilcd II tbs9 ~.
o''Hes uangeross discretion. and one that oyyb,
"oi 70 exist Bot. unierIbe prcsslr .y.rem. d, g,,
no' DC avoided, save in few case. without len,
g"s every pubic liability at the rnus favored 80,
MS would % once centre al the df.bur..o,.,,. :,
"" o. 'he Eastern cities, and involve tho r,.,.,,.
~ 20 The rsk and expense Of rrnnsporirpg h, nS1i,
in'os ron me VARIOUS points Of collection u, A..
places ~ disbursement ''''
m zen o. les' im2W,lnc'. hu s'iU voyt,y a,
'"nsineraiior' ~ settling on a permanent ,rd g.,
nom'cai arrangement, " The direct er,epss - 49,.
g'eseW system including ihe cost Of he b-ift,,,,
"i we dsp'sie Of the public money and IN. ,,I,,,.
OF NE officers and their clerks who r.rs,y, 80 i.
purse o. No pouIDn ofths risk. iucopvcpsc,r. -,
fF h. u