Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-03-12
as no paper currency Of national ciroula-

etVhs
4. Because il separates the Government
from the People, and dsavows all inciden-
tai duty towards the latter in the bushes OF
the Treasury.
Which Of these three systems is The
cheapest and safest, that is, involves the
least expense and loss to the Treasury, is no
otherwise important than asirmay he ques
ton of charge on the revenue; and which
of them is most convenient, in fiscal point
of view, is q matter Of no interest e .cept
to the Government.
The Committee do not believe that Il e
wit of man can devise any scheme OF fl.
nance which will satisfy every mind,or which
shall combine the whole OF the advantd-
ges and shun the whole Of the disadvanta
ges Of the different plans, on which at sue
cessive periods, the Government has hither-
to acted. All human institution is mixed
of good and evil. 1t is our duty, ii we can
not do all the good we would, to attempt at
least to do all we can. And the Commit
tee are of opinion that many Of the advan-
tages Of the different systems heretofore
adopted and successfully rejected by the
Government are to be found, and many oil
the disadvantages are not found, in the plan
Of Board OF Exchequer recommended by
the President, and which, with sundry mod
ifications, they report to the House.
In common with a Bank OF the United
States, the Exchequer provides and Sc
cures
|. A safe and convenient agency for the
custody and management OF the public
funds.
2. A useful agent of exchanges and col.
lec,ions.
3. A national paper currency.
a. The regulation of the bank paper cur
rency of the States, by receiving it in pay.
ment of public dues, and presenting it Tor
redemption at short intervals Of time.
5. The utilization Of the public deposits
and OF the specie funds of individuals by
rendering them the basis Of national paper
circulation.
6. The bestowment incidentally TO the
business of the Treasury, and within the
letter OF the Constitution, of benefits on the
people OF the United States.
In common with the Independent Trea-
sufy---
|. 1t does not entrust Ink tsaN nrrol of the
'-'11t17Ic 7unds or-oi the ooTency to an lrrss-
ppnsioIe PrivateT4otporatlon.
2. It does n31t loan out the public money
to Individuals.
3. 1t makes and oanf make no excessive
issues, ana cannot suspend cash payments.
For every paper eal lie on the wing, it has
a gold eagle in hand.
4. 1t is independent of all banks.
S. 1t conducts the business OF the Treas
ury without the II ,,cessity of recurring for
aid to the creatureslof the legislation Of the
States. b
6. By the use either Of Coin only, or
of paper always equivalent to coin, il fol-.
lows the true spiritof the Constitution in
the legal money Standard.
Z. 1t is at(all times within the control OF
Congress to repeal or amend it at pleas
ure.
The President of the United States, in
presenting this plan 10 Congress has obeyed
the Injunction of the Constitution, which
requires him 10 recommend TO their consid.
GRAFTON such measures as he shall judge ne.
cessary and expedent; he has fully redeem
ed the engagements in this respect which
he had previously made to Congress; and
thus he has faithfully discharged his whole
duty to the Constitution and the Union
The Committee while animated by the
highest respect for his views, have yet
deemed it due to him, to themselves, to the
occasion, and to the country, to give to
those views free and unbiased examina-
ination. They have done so; and, in SO
doing, they have also discharged their duty.
They submit the result to the House in the
bill herewith reported. They believe this
measure to contain the elements of useful.
ness and public good; and, as such, they re-
commend it to the House. But they feel
no pride OF opinion concerning it; and II
in error, they are ready to follow the lead
of better lights, if better there be, from
other quarters; being anxious only to min.
ister TO the welfare OF the people whom
they represent. 1t remains now for Con-
gress to act in the matter; the country de-
mands that in some way we shall act; and
the times appeal to us to act with decision,
with moderation, with impartaity, with in
dependence. Long enough, the question
OF the national finances has been the sport
OF passion and the batlle-cry of party
Foremost OF all things, the country in or
der to recover ITSELF needs repose and or.
der Tor its material interests, and a settled
purpose in that respect (what it shall be is
OF less moment, but at any rate some settled
Purpose) on the part OF the Federal Govern
ment. If, careless Of names and soicItous
only for things, aiming beyond all in,erme-
date objects TO the visible mark of the prac.
tlcabe and attainable good-lf Congress shall
IN It's wisdom concur at length in some equ
table adjustment of the currency question, il
cannot Tail to deserve and secure the las
ting gratitude OF the People of the United
States.
| WESTERN NAXIG CATION