Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1842-02-24

4 That u IL nh at Vt The psopsr bss.ns.s 81 tho
Fcder~l Government 10 carry OF tiirretly or indi.
rrctyl the bus ,iess of diso,uniag mica or bilh.
or otherwise leuing money. or 10 isrutsi' funds to
Do =, lent
Concerning he adoption Of ,hs STATE bank. as the
h-csl agent. and deres torres oCihe FtdersiC Govern
Tmeuh the msin Consideration for ti,-
That. ~ there loo mo %nafiinal hank. Il i. necessary
10 employ The hanks 81 The States. unless the Co
Nsrnnteni chusss To- DISCARD all hank agents.
And The main considerations sgsinst u are
Il. That the tedssnl DOvsrnmeni ought not to bs
dependent on the legislation Of the Suite Govern
the Treasury.
z. The P~'rpetrai liability OF the State hanks N
excess Of isSues. and 10 suspension Of s,'-eie pay
menis.
} The d'Hr ulIy oTriving n national unity Of ac-
ton To Institutions which are essentially local m
their nature and uses. and in their currency.
I. The liability Of the ,ysiem 10 political abuse.
The sysiem Of an indcP.ndsm Treasury IL re-
/. Bsrnu.e Of IN independence orall agency M,
The ooSernments, and especially because indepen.
dent Of banks.
=. Because IA hnl,i- the nnhfc TSnds for the pub.
lie use only
>. Berause. ny the use &c coin only in The deal.
'nys OF The Treasury. u t~i,ds 10 bring hack Tho
conniry 10 the money standard of The Constitution.
And IL 10 opposed-
Bseausr. by the exclusive use of coin. Il re-.
, cs their time snNiug and labor saving inStrumen.
iahly of paper. which. - IL he Of specie value. il. in
many respects preferable il use &, cuin.
2 Because - locks up tho public funds han MI
employment. either directly or as the basis Orpapsr
issues.
8 Because. under il. the United States has no .
per currency OF national circulation.
4 Because. II separates the Government frpm tho
peoPle. and d'savoN- all Incidental duty towards tue
latter IA the business OF the Treasury.
Which of these three systems - the cheapest anil
safest. HAT il. involves the lea,i expense and lcsS
to the Treasury. - M Otherwise important Than a. II
m,y be a question Of charge on the revenue: and
which Of them is mos couy euieni. IN n fiscal point
OF view. isa matter OF no interest sIcspl 20 the CO.
Vsmncnt
The Committee do mt believe hat tho VII -
man ran devise any scheme uf liuaucc which will
satisfy every mird &c vhie!. shall combine iho whnlc
Of ihc advantages & siun ihs whole Of The disadVan-
iages or the d,d-reat plans. on which nj successive
periods, the Government has hitherto acted. All hu-
man institution Is mixed ofgood and evil. II is orr
duty. II We cannot DO all the good We would IN nj
tempt At least o. Do MI NC can. And the Commit.
lee arc OF opinion that many nf the advantages OF the
different systems heretofore adopted and succossiyely
rejected by the Government. nce To he found. and
many of the disadvantage are not found. in iAe
plan Of n B ard Of Etehcqucr recommended hy
The President. and which with suhIy notifications
4 they report tn the House.
In common with \ Bank or Inc United States,ihe
EIchequer provides md secures
| A safe and cnnvenieni agency for The custody
and management Of The public funds
,. A useful ageni Of exchanges AMI collections.
3. A national paper currency.
{. The regulation OF The hank paper currency Of
the States. by receiving il ia pawn NJ OF pub'iu
dues, md presenting il Tor redemption Al short in
tervals Of timr.
a n H.. II ~. hi -. - r
the specie funds o. individuals. by rendering them
The basis E a n tonAl paper ciroulttinr.
s The besioN ment inr de tai To the br,incss nc
The Treasury. sal within The letter Of the Cnn.ii.
miioa. n: benefits on tho propls nf the limited States.
Ia romEon with The lh'epeu,enl TIE sury-
| II does NJ entrusl tn clninl Of The rnhl r
funds or nf the cursney TO an irresI unsiLle pnvaie
cnrpoia'ion.
. /, doe. no Ian ont tn, qublie m may to lodi.
vidunls.
3 It makes and RIM make no excessive i>.ue-.
md cannot suspend cash payments. FM every
Faaor cage On 'he wing. II has a gold sugls IN
hand.
4 u is independent NJ all banks.
5 Il conducts the business Of The Treasury wit.
nut the necessity of recurring fr aid 10 The crea-
turr. nf The Legislation 81 the S'atc'.
6 By the use either ef coin only. nr Of paper ~.
ways equivalent 10 coin. il fnlluvs the rrnc sl6rt II
he Constitution in the m unienAnce Of the legal
money standard.
7 u is OF NIL times within the control Of Congress
10 renehl -r amer d II NJ pleasure
The P.esidrri nr the United States. in presenting
this plan To- Co gross hiss ohey,d The injunction
OF he Constitution VIII eh requires him 10 recomend
10 their cnnside ration surh measures rs he shall
jHdgc necessary aud s%xpedienf; ne has fully redec-
med the engagements in this reHnect which he had
previously male 10 Congress and thus he has faith.
fully dis harEed his " hole duty 20 The Cans 'ntiou
and the Union. They have done ~ md in 80 do.
ing they have also discharged their duty. They
respectfully submit the result TO the House in The
hill herewith reported They helisve this measure
to contain the elements OF usefulness anil public COOL
and rs such, they Recommend il 10 the House -
But they feel no rride OF opinion conet rning il. nnd
IT in error. they are reidy 10 fbllaN the lead OF bef
ter lights. il better there be. from other quarters; be.
ing anxious only TO minister Ia the welfare 81 The per-
pie whom they represent. II remains now for
Congress to aci in the marrr tho country The con.
try demands that in some way we shall act; and the
times appeal to us to act with decision, with mol.
erniisn. with impartlaliy. with Independence
Lorg enough, the question e the national finances
has been The sport Of passion AMI the bnitle-rry Of
party. Foremost ofnll things. tho country. in order
TO recover self needs reTosc and order fr its ma.
terial interest. and n 'ettled purpose in that respect
(what u shall be is Of les moment but al any rate
rome settled pnrpnsr)on tho part Of Tho Federal Co
Vernment. II, careless of names and suliciious on
ly aiming beyond oil ,nie mediate subjects n the vi
sible mark of the rracttcable and aiiainahIe good.
II Congress SAall IN It's wisdom cnncur al length in
some equitable adjustment Of the currency question
IL cannot fal 10 dsserye and secure tho lasting graf.
itude oftho People Of Tho United States.
There Will he a Lecture delivered before the
Ph'lona'hesisn Society. in The Rsv. MIR. Wallacsfs
Church, Oh Friday evening February IS. 10y DR. >.
w Clemens. The public arc generally invited 10