Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1841-12-21
PnAaad Drc,Qi

Tar PstsIDEST's MtssAct, whole, evidently
,i,e, la better satisfaction Than was anticipated
" N he exception Of some few conservative, ieDoe-
,og ,arcrs. whose only object seems TO be TO find |
sgi, ui,h everything and labor TO distinguish them
elves b., being different lom everybody else, like the
Ic,.s Of Coumerte the Ros,on Courier, and the bed
,nLe, humbugs i, fully approved by all except in
ne particular e the proposed plsn of fiscal agent;
and .ot NE mos, part. this is unquahedly approved
by the leading Wing papers.
Wsfy not rrfssssssso bssssie to discuss financial
uses,ons. tana have no Jeesv in acknowledging our
ignr+sace shd think msby vthst commentators would
strsssi msus ~ssss ~ shssuksD Dor ,hereNrslhree
circumstances ahoa, /, which 10 Us <eem Shectlon3
in tho extreme. ~t,szhsxs viii briefly men,ions OPS
bv liz operation national deb, wffSv sAfzi sheJS
which government must either keep itself IN cons"s<
readiness to discharge at moments notice or render
he scheme liable TO become nsolvent There IS now
outstanding millions OF dollars;-a debt cfea'eo
by ,he treasury note concern which Government can
no, possibly pay and at the time make suitable
appropriations to other objects, supper, ITSELF &c And
where is the probability Of its heing better conditioned
At future dav so long specie is induced out OF the
,,,ntrv by our own currency laws. Mr.. Tylers plan
does not allow the agent deal in foreign exchanges or
proyde notes receivable in foreign countries as we un-
dersand II consequently ourmPora,ions must all be
paid for 10 gold and silver lessenng its quantity at home
most runously and lessenng, too the ability OF the
government NJ TO redeem its notes.
Tn. seccnd.-Thcsc e1chequcr bills are 10 be re-
deemed at any time gold and silver a, the option of the
holder Consequently for every dollar in bills, govern
mont must have dollar in COIN and this is the case
the argument for the plan defeats ITSELF Tor the specie
eAf be used IN place Of the bills doing away with the
necessity of,he business altogether The plea for
paper currency TO increase the quantity ofthe circula
md stly de
A Bank nigh, be allowed to deposiie one million of sill
yer dollars and any other property the amour, OF ~'
millions more be pledged in stock and held by mortgage
then il can aelv three millions OF dollars 10 bills
adding to the circulating medium fwo millions, which
10 all inten,s and purposes is equivalent 10 the creation
of Jus, so many silver dollars. Thus the object wou
be obtained and so far, objection incurred.
The las,-that though it may draw out of prvat
banks the specie there deposited by imposing an inu
ence on them 10 esume specie payments, making tn
useless coin available the Presidents proposition doe
no, provide large enoughto meet the wants OF the bus
ness community. Twenty millions Of dollars woul
scarcely negotiate the exchanges between New Yor
and New Orleans entire year, much less produce th'
broad and universal benef required
But, with all these objections, ii may nevertheless /
wise make triaoft for certain II is, that though ii
wings the dominant party and may, il they will tur
out properly TO the polls secure the success OF the
principles yet we have reason to fear they may a.lo
the opposition to triumph them 10y reason of the
own slackness; in which case U. S. Bank, il esta
lshed Tor any definite time, would be Immediately pu
ed down by alawless repeal fac,on;-the consequent
would be continual fuctua,ion and instability Of fina
cal concerns. One administration would spend
term il pulling down what the other had bull, up,
hope and disappointment follow in endless successic
upon the heels Of each other TO all time II III
plan shall render but partial good, and shall secu
enough Of concession from both parties TO render il pc
mancnf i, seems to be the prevailing opinion tina, Il
eXpeflmeut had better be tried.