The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-04-22
From the 81. Louis Bulletin.
THE EEXCHEQUER.

We copy from the Union Democrat, Van Buren,
paper, edited by Amos Kendall late Postmaster Gen
era, an editorial article giving his views Of the Ex-
chequer 1t is worthy of perusal. Mr.. X. has
figured largely In the political world, and, with all his
faults, he has much talent. To Western men Mr..
Kendall's objections will address themselves with
different effect from that which he desires to produce
The utility Of this plan far the wants and inte-
Kendall beyond all cav By this plan specie here is
specie, or its equivalent in New Orleans and New
York. This equaises exchanges.
Mi Kendall seems to object TO the plan because it
will impose great burden upon the government for
the benefit of the people A most singular objection
for "dear lover of the people" to make truly He
seems, however, to have overlooked the fifth section
of the BILL which limits the amount for which certif-
Gates ssuabe and subjects that portion Of the gov
ernments duty and responsibility to governmentalreg-
ulation Mr. Kendall very strongly intimates that
Mr.. Cushings bill does too much for the West
One of the main purposes of Banks is to facilitate
trade and commerce by promoting an interchange OF
commodities through purchases and sales. To this
interest they peculiarly favorable But they should
be conducted as not to weaken impair other in
erests Indeed, they ought to be, and can be- es-
ablished and conducted 10 aid all the various inte-
rests 10 community. There is no plan admira-
bly, adapted to produce this result, judgment,
the Erchequer. 1t is not rival TO any banking In
stitution but incidental regulator of ali of them
On this point, however, we have heretofore fully
and plainly unfolded our views repetition Of them
wholly unnecessary.
1t is perfectly obvious that the Exchequer would
give us paper currency of equal value ,ohere is
sued to specie. The receivabty of Exchequer
certificates of deposite for all public dues at any and
all points where the United States collect revenue
from any source would make them equal to specie
throughout the country Certificates issued specie
here would circulate at any point from New Or
leans to Boston, and thus the specie would remain
here to be dsbursed by the Government when wanted,
and again distributed amongst us 1t would not be
locked up for its representative would pass from hand
to hand with safety and despatch Every dollarthat
can now be purchased here is shipped East, as the
foundation for drafts. Our specie is leaving us, and
the drafts which represent il are at once sent to their
destination and toiIoic the specie.
Pass this Exchequcr BILL and its friends :" ,ciA Tin
the language of Mr.. Kenda) haze achieved all that is
possible Che thinks ",rhen they shall haze given the
people paper mdin truly representing specie in the
regions chere it is used"-and think equal to spe-
Gle at erery point where the Government is entitled to
receive public dues-to wit at all the sea-board
towns and all the public land Offices in the Union.
Mr. Kendall proves that the plan will be rather useful
We think it will be exceedingly So and, ,phen tried en-
tirely satisfactory.