Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1841-12-22

no, i,,isrepicsagt the President, sc here suon
portion ui IIis remarks upon the pan OF the
F.scai Agency which he proposes.
=" itcouiempI1,cs the establishment; oia Board
of Control, at lie Sea, Of Government, wlh
agencies at prun,innr, cotnDierciai points, or
wherever else Eougre2s shall direct, for the slir-
keeping and dlsI,urseu,ent of public moneys,
and q substitution; nj tic option of the public
creditor, of Treasury notes, ia lien OF gold and
silver. I. pros soses 10 limit the :ssues To an
amount not 10 exceed $i5,G90 03D-wiiioutr The
express sauciion Of the Legislative power. Il
also authorizes the rcccip, OF individual depo-
Hiis oi gold and si!rcr 10 limited anIontt, and
the granting cer,Ecaies Of deposit, divided into
such SUNS as may be called for by The deposi-
tors. proceeds step farther, and authorizes
the purchase aud sale OF Domestic Bills and
drafts, resting On real and substantial basis,
payable, 1t sight, or having but short lime 10
rsii, aud drawnon places not less than one hun
| dred miles apEi-which authority, except in SO
ias as may be necessary for Government pnr-
poses exclusively, is only TO be exeued upon tho
express condi.ion, that lis exercise shall not be
ptoa'oited by the State ia which the agency IL
I situated.
Ia order TO cover the expenses incident 10 the
pan, Il Will be nuthniiZed 10 received modera,s
! premiums Tor certificates issued on dcposits
nid on Bulls bongtI, and sold, aud Ihas Id far as
It's dealings extend. 10 furnish facilities 10 COM
nerciai intercourse al the loves, possible rates.
and 10 sn!tduct liom the earnings OF Industry,
the icaStPossible sum. il uscs the State Banks
4, distance for the agencies. rs anxiliarics,
without Imparting any power 10 trade in lis
| nnme. IL Is subjected TO such guards and 70. 4.
s:rainis rs have appeared 10 be necessary II is
! l1,y a,I a~.. ii.
sure Of The Legislature. Il is made to rest OF, an
actua! specie hasis III order TO redeem the notes
al the places OF issue-produces no dangerous
redundancy OF circulation affords no tetnpta-
! ;ion 10 Spccu!a,ion--is attended by no iniaiiun
! ci priccs-is cqnablc in its operatioa-fnakes
the Treasury Notes. which il may Use along
with the certificates Of deposit, and the noics OF
specicpaying banks--converiblc at iha place
where collected, receivable in'payment of Co.
ycrnneni ducs-and without violating any priu-
| ciple Of the Consultation. affords tho Govern
nent aud the people suciI facilities rs are called
Tor by the wants Of both Sneh. il has appeared
| 10 me, are It's recommendations, and in view Of
thein /, viii be submitted. whenever you may
require il, tc your consideration"
Our readers will perceive thatihc plan orihc
President, is one of paper money, borrowing
cuO- AL cApc-
rience proves. that paper money schemes Off
nance are liable 70 the mos, dangerous abuse.
'Tis true, tba, the President proposes, 10 limit
the issues TO an amount no, to exceed fifteen
millions ofdollars, without the express sanction
of the Legislative power" Bm j, is certain, that
in shoi, period, numerous appropriations and
divers sollsf schemes goi mp by Members Of
Congress, and the clumorrs OF States, itching
for public money. would induce Congress TO
add many millions more, and thus in little
time, the country would be fioodcdwith u worth
less. rrcdcemable currency. The President
however. does not urge his schenla,sery warm.
ly. and seems 10 care but liulc aboati.. In the
meantime wc wall patiently wait, to see what
other plan the Wings will adopt, should they
reject thu, which wiIbe offered by the Sscresa-
ry f,he Treasury. For wantof room. we cau-
no, say any thing more on the otlier subjects
embraced in the Message.