New-York tribune., 1841-06-07

articles which bear ssude aHy enumerated article
hargeobe wth dur, shall pay the ra'e Of duty With
he article which resembles would large SUN
annually the and prevent much annoyance and
itgaton betwv the importer and The o.cers charged With
he collectIos OF The
OF IL PgJlic De5t
BIZ; II got expected that am modification Of the eVenue
laws viii be operative supply the Immediate want OF me
Treasury and 10 pay the dets which a due in to; present
and ia the ensuing year. further Joan : necc--a: 20
eHec: those objects and the only questions that car a'i=e
are mode OF procuring the loen the character "
1he securities and the assumed duration OF the deb
Il would in the opinion OF Ike undor-igned' DC u4' "
charge UPON the commerce the resources OF the county
in any form the burden Of paying a; once or al ~ hss'
me rational debt, Before that is done Oh
and relief required The currency oi i country shoca
10 ,es.ored and commerce and industry relieved from thcif
present state of ond depression and benign
and liberal policy the part OF the General 1oFerinent
should call forth the hardy industry and active
-n,c-xsc Of our people ara the Of
If we assume the period from yc eight years thai
in which this debt be paid wtheut inconvenience and
embarrassment and the time appears be sher enough
have OF the essential elements which form
judgment tho best and convenient mode Ia which
the loan can be kept up and the credit OF the government
sustained.
In The inception and during the progressive 81.
national debt the Treasury though
Gus and deusye their advantages Thcy need Ho
be Issued faster than the actual wants of the Treasury require
and power issue any given i, for all effective pun
poses Of immediate expenditure, fund IN the treasury
available to thar amount But when the debt ha acquired
its maximum and accumulate or, when becomes
larger than the 10 be kept on hand 70 meet
the OF the Treasury, these advantages d'aP
pear This mode OF oaa then becomes 20 the Government
VIVA, the sale in market of promisoy for the pur
pote of raising take old promssoy notes to
an individual II the issue Of Treasury tnke up
other Treasury year after gear IN succession and under
those circums il announcement and expensive
But The o
objectionable because deceptive BY this hea-
w det NAV be raised fastened permanently upon me
country the of issues being involved with the
payment of the old while the people" and those VINO
administer the finances be impressed with the I'M
porant uct that rational debt Is created or IN the process
of creation.
Therefore in the opinion of the undersigned. when
,ionu debt dees exist, and continue for time, it is
better that, should be made funded de5t according
ancient financial usage then sheltered covera.d
the subject deusien. Ii open paPabc. The
of the country will be upen and will &c able mark
glance reduction or its increase And, is believed,
that loan for the requisite amount having eight years 10
rus but redeemabe the will OF the Government So!
months could re negotiated ut much less rate OF IN
rcrest than Treasury Much expense world Also be
saved dispensing with the machinery OF the issue andpay
rnent and canceIing of Treasury notes.
II is therefore, respectfully recommended that sf
fcon pay the debt present existing. and such will
accrue this and the ensuing year. be raised
car the time and the condition above suggested
Oh, Kcer4ug and DisJursiag the PuJlic Moneys
Tho undersigned would also, respectfully invite he
ton Congress the mode OF keeping and discussing the
public MONEYS and also the subject of the creation
lovrnen fca agent, be charged with the perform
unce o: these and other duties.
The subject one of great Importance both the govern
lnent and the community Suchagcnt depository ought
t mite in The highest practicable degree the safety % the
,bic fund.- and convenience and economy their admins
iYaor and -ho;d possible be selected framed
10 exert sautay influence the business and currency
Of the country.
RI L IL; ,l.,
yidod by the &C, July 1th l8I0 will be found conpar-
sc, with that heretofore chiefly used by the Government emf
aently deficient all these essential requisites The nan
ca history of the United States especially for the last twelve
Gears furnishes aburdaat proof that TIE public money
safe in the custody Of individuals and that their official bonds
are no, sufficient security for It's safe keeping and faithful APP
pication Within The period above named many receiving
officers connected with the Treasury Department have be-
come defaultcr the Government The aggregate loss from
tina. cause, within hat period shown by the books OF he
Department 62e5O0, but s,nall part onch
Will probably be recovered from their bonds Ii true that
IN any system which DC adopted part of the public
money must in the process of collection pass through the
hands individuals and be subject to their dcica,ions but
the act OF July ih 1910 extends and the risk be-
yond the period of collection and subjects large masses
which The fluctuations OF commerce, Sometimes
lete To- the same dangerous custody
NOT only ia the public money in the hands of individuals
wore exposed 20 loss ordinary detacatious than when
deposited in well regulated Bankt but the Govcrsment IS
also liable risks oil ire robbery and other casuaiic &C
curing either IN deposit transmission, from which Is
entirely protected when welsgua;ed Bank the dcosi-
tory aud the fiscal agent.
The prcsen; system also in many respects i5rons a"d
inconvcnent Ii. ,cndenc the disbursements OF
the public moneys OF The Eastern cities. cniey al
New-Y 7ho: being the great commer>! emporium OF
the United States is the point which funds are the most
valuable and therefore the ought-hcnce those VINO are
cnte Payments Of tho public treasury claim them
There It's true, ,here general discretion IN the head Of
the Department refuse grant the .ayor Of such payments
according is convenience; but when the currency Is q
II
ZION involves discrimination ,arac usons cTedi-
equally entitled Il then becomes dangerous discrc-
tion and tina; otght exist. But usdr the pre-
sent system it cannot be avoided few without
dischargng every public liability the most favored point
This would all the disbursements few Of
The Eastern Cities and involve the Treasury in The RISK AID
expense of Transporting the public funds roS. The various
points of coccriox the places Of disbursement.
An item of less importance, bur still worthy OF coa~idera
tion in settling permanent and ,colomc2l Advancement
the direct expense OF the present system. including the