The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-01-13
President Tyser's Plan Of n
Fiscal Agent.
Tie sccretary's Report.


Representatives of the 10th inst. has the
honor Of Submitting the drausbt Of bill
. for the establishment Of Board of Excbe
quer OF the seat Of Goyernmsnt, With agen
cies in the several States and Territories
10 preparing this bill, il has been hio 10
ienioD 10 keep within, aud fill w, the gen
eral outline Of the measure. as proposed "
lie message Of the President al the open
Jog Of the session but be does not CATER
hluself that il will be found So perfect 10
lis details as moi to require notifications
aud careful revision by the two Houses o.
the Legislature.
As this measure has, necessarily, been
for some time under the consideration Of the
Presiden, aud his constitutional advisers,
tho undersigned IS directed By him to &C.
company tie bill With general exposition
Of Ihe views enleusined by bin, and COZ
CURED in by them, respecting ii.
10 vhat manner and under what sccuri.
ties the public money shall be kept; in
what manner, or whether IN any manner,
this Covernmcn, shall a.IemPi TO supply a
sound medium for payments to the Treasu.
~, and Tor the general Uses Of the People I;
10 what manner, or whether ID any manoer,
II shall attempt 10 benefit the general bust
ness Of the country, by furnishing facilities
OF exchange, are questions which have not
ceased 10 agltnle the community for eight
years. Upon these questions much opposi
ton or opinion has prevailed, and ardent
and intense political controversies aud
struggles have been founded. Ii is time
that this state Of ihings wore brought to en-
end /, IS time that such provisions we're
anada for the custody Of :ho fesceue as that
the people may feel that the public treas
ures are safe. Il is time too. that, 10 rela
lion to currency and exchange, individuals
may know what they have 10 expect Or
whether tbay may expect any lh'ng FROM
{ the measures OF Government. Doubt and
uncertainty 10 this respect constitute the
wots, OF oil conditions. They alec, every
mans meats Of living, aud instead Of Civ.
lag encouragement and applying a slimu-
Z lots to Individual exeFtlOn aud effort, check
tine hand OF Industry, suppress be spirit,
of eulerpnsa, and bring stagnation aud par
alysis upon the productive powers OF The
country. Gu subjects SO vitality connected
With mans personal sud domestic welfare,
The people have right TO require lha;
stat Is 10 be doua should he dcue without,
further delay Ia ordoF tia, they may accom-,
u1odaie themselves TO the policy OF he Go
vernmrni, whatever faai policy may be.
aud be prepared 10 give Correspondent di.
recilon TO their OVID industry aud business.
Tho great want Of the couDiry Is tho want OF
confidence confidence 10 the sseadiness aud
stability OF the pchcy Of the Government;
confluence 10 that which regulates tue value
81 property and the wages Of labor; cont
donce IN the establishment and preservation
Of the necessary and ordinary mesns Of ex.
changing production against producaion, and
Of buying and selling with security. SO
| thai the intercourse between different parts
/ Of the country NOV be carried On with its
former activity aud usefulness. The oh.
iect Of tho plan suggested TO Congress
IN the Presidents Message, aud now pre-
seated for It's consideration 10 the fofT'
| of bill, is 10 establish this confidence,
and to give The country tranquility
/ Il IS Designed 10 terminate contentious Of
! long s,anGing, and 10 restore that peace,
quiet, and satisfaction With the state at pub.
he affairs, without which men cannot pursue
their vocailons either with cheertulness or
with success. Amidsi the conflicts oil wide
lily differing opinions, a measure is recon-
meudcd which avoids extremes on both
sides llproposes lees, far less, than many
think II desirable tina; Government should
/ do, and al the same time far moro than 9th.
/ ers are ready 10 recommend. II aims a!
| lust medium, common ground. on shich
those may consistently stop who might yet
wish to 90 further, and to which they may
advance wuhou, self repronch, who would
nevertheless have desired 10 fall short Of II.
Ii does not attempt to collect capital by
nriyate subscription, for the general pur.
noses Of loans and discounts, and therefore
does not propose to perform the ordinary
functions Of bnnk. On the other hand, i,
does no, propose 10 lock up the public mon
evs from the time of collection 10 the time
! disbursement, nor to demand specie pay
ieol Cor every debt due 10 the Government,
making no attempt, at the same time, 10 fur
n,sh the country with either currency or
exchange, nnd entirely contenilng itselfwilh
securing specie payments INTO the Treasury
In these respects it differs from the system
established by the law, now repealed, gener'
ally called the suh.Treasury act.
[, is not Intended here to discuss the re-
spec,lve merits of these two systems, which
NAV be regarded as extreme opponon's Of
each ether. But 1t may be proper 10 say'
in regard to a Bank Of the United States
that if there we're IN no quarter any constr
tuiional objection to the creation OF such an
institution, il would nevertheless not have
been recommended to Congress, IN the pre-
sent condition ofthings, as measure likeiy
to afford relief to the country. Such IS the
condition of the currency, in many Of the
States, such the deporable depression OF
general credit. produced by that condition OF
the currency and by other causes, and such
! tho ovis,inr nrese,,re in tho money market,