Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-03-19

rencY proceeding upon the principle that the
Government should receive nothing but gold and
silver in payment of'public dues, and dsburse
nothing but gold and silver in paymentslof the
0c creditor. Butfhe Exchequer is 10 receive
IN, S2lic dues in the sound specie paying bank
paper oil the States, at tho place where redeenis
able as well osn gold and silver, and at the same
time to furnish new paper currency OF the
most impregnablo ,soundness for the uses Of the
community, as weltas the wants Of the Govern.
ment; a currepsypwhich finds its way into the
hands OF the mechanic, the farmer, and the mer.
chant, as we'll as the salaried o1ice.holde
Secondlgs~ Instead OF locking up the public
money from the uses of the community, whilst
it is not needed by the Government, az the dor.
in.the mangerfpolicy Of the Sub.Treesury did,
the ExchequeIlnakes it instrumental in aiding
the great operations Of commerce and productive
industry, by the safe and legitimate operations Of
furnishing and} collecting exchange, on distant
points, often accommodating the wants Of indi.
viduals and the Government in one and the Same
operation. These important benefits, too, are to
be conferred on the business OF the country with
out allowing the Exchequer to engage in the
more questionable and hazardous operation Of
discownting bills, or making loans Of the public
funds, under any form whatever.
IhirdIy.Z-Be Besides impartng salutary &C.
tivty for public accommodation 10 the idle boards
Of the Treasury, the Exchequer invites forth, un
der the guaranty OF the public faith, the boarded
treasure OF individuals, which would be other,
wise lost 10 all the productive employments OF
the country and makes it the source of new
and accredited circulation, which, with that foun
ded on the public revenues, will furnish ma.
tional currency adequate to all the wants Of the
country, and Of the highest conceivable credit
and convenience
#" Fourthly.-The Exchequer is to be so organ.
lied that it is rendered effectualy independent OF
the Executive power. The three Commission.
ers at the head Of it are removable only with the
concurrence Of the Senate, and then for certain
specified causes--whlst all the other officers
both in the mode OF their appointment and re-
moval, are placed beyond the power Of the Pres.
ident. The whole corps Of the Sub. Treasury
officers, on the other hand, were the very blood
Of Executive patronage. They were all ap
pointed Directly by the President, and were abso.
luely dependent on his sole will and pleasure
for their continuance in or removal from office
The genius Of the system, in the most delicate
Of all trusts, the charge and administration o
the public money, was that Of subserviency tc
Executive power; whilst the distinguishing lea
ture of the Exchequer is to render it indepen
dent OF the Executive, end to place it above all
influences which light swerve it from the integ
rity Of its high trust.
FJhly.-The Sub. Treasury proc eedet
upon the principle that it is the duty Of the Gov
eminent to receive and disburse its revenues ir
specie exclusively and that there the duty o
Government ends. The Exchequer, on the 9th
er hand uses the same currency that the People
use, and proceeds upon the great and fundamen
tai principle that it is the right and the duty o
the General Government, in the collection, safe
keeping, and disbursement Of the public revenue
to aid In furnishing a uniform currency an
squalizing the exchanges"