The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1842-01-14
pnysoRr ON THE FISCAL AGENT.

OF the plan itself, we see no reason 10 c'',"se
on, mpres.on from the elaborate exposition ol lis
scopc and machinery. II is IN EXchrquer or wow
eminent Bank with The worst features OF such an III
s,;,n,;,, II confer, on tire Government all banking
nowsrs and provides for their eNelciSe, with great
ar no,cncy and less guard than amy scheme OF gov
ornamental AGENCY ever before officially devised IN
mi. conn,ry. IT is authorised to issne treasury
no,cs IN ,he amount Of 6 900 ,0OO--ccrlcales
Of dcposile for coin deposited By individuals, TO
Ike pmnunt--and TO purchase and sell bus 0l cN-
chanue III biium.1hesc are powers and cnpac''ies
aside from aud beyond the safe keeping and dts
bursement of the public nonr!s,-ihe only abSo'
ute purpose for whrh the treasury or the govern
ment stands in need of an ngencv-and are hehr'y
ne DANGEROUS in themselves, and us liable 10 abuse
cycppt in the matter y! chartered perprlui'y' as an
inrorporatrd bank That certain Incidental pow
ers mich, no, be added 10 the plain duty oil being
charred with the saS keeping and disbursement OF
the povere neni funds, such as an issue oi drai''
rs the representatives. of dcposlies ol colI,-w'
will not be over strenuous IN cOh'endlhs. Dut ''
the extern, proposed in the plan now beiole con
rress. if no, in lis entire scope ana spiTl conI'
scarcely Gail TO lead 10 results disastrous boih u
the government and the currency.
rho pre,enl dominant party, announcing the In
dcnnudan, Treasury its simple nmchiner,
and restricted powers-as gsnnlIc an" ua"So'
Gus union Of the purse and the sword, ana re-
s,ri.rcd issue of treasury notes ms lis nuXlllny,
assured the American people, that, bes'ow ih'
power upon them. and their Ians OF finance, bnnN
/ nr and liscallty. would at once meet and remove
oll difficulty. we apprehend that they have at
ro,Iy r,und the subject enylroncd with create
o,I,,rrassmcn, than they are willing TO ncknowl
cdro. and that they perceive that 1t Is The greater
the ciber they depart from the simple s,hcm'
oc tho loic administration. They have aread.
made ore important ccncesSon-n proposed isIu'
If treasury notes-and in good time, II cnndo
rather ,h,n plr,y policy or the pride Of opmio
nrrynil. will make another, aud Gall back upo
the Independent Treasury, snb''ah,'n'y' Mca'
while, ii - gratifying to the iepnhicah' VI II.
Union to observe, that their Representatives,
| Congress leaving wholly olhe dominant paiiy ti
task of dcy,ing aud fishioning then measures VI
he nrepared 10 take a course, consistent win ~
p,incip es and opinions upon which they stand DC
fare the country-and stand as we think on hls
,,ound Theirs, we are persuaded, will he II
tc,ions opposition bu, they consider i, dictate
n,,,;o,ism and discretion 10 reserve themselves IN
ii the whole ground shall be before them, 'hrong
,ho ,c,on ol committees and the abors OF The ma
Joriiy. 1o ,o,od Man If &.
81 aroncv must encounter the objections and 81
position Of the opponents both oil cnaf'e,ru ~
: ,ioral Bank and Of Government Bank. iha'
If ether choose to maintain their consistency
G no,ition. or course, these embrace the mass
both r.riias.-.4 Albany .4rgus