Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1842-01-18
TOTAL,
From the Nashville Rep. Banner.
THE FISCAL AGENCY.

ttf- L Usual AGENC1.
The smooth report Of the Secreta-
ry of the Treasury, is now before our
readers. That it is quite an ingenu-
Gus defence Of the Presidents fiscal
project, all will readily admit. Per-
hlps it is the very best that can be Of
fcrad. and yet there are glazing deform-
ties still uncovered. We promised to
rive it a dispassionate consideration,
and we have done so. With regret,
we must confess, we fad ii no relief
for the country. For the sake ofthe
unity Of the great Wing party, and for
the respect we have borne the present
Executive and his infatuated friends,
we regret that, having defeated the i'm
portant measures the relief brought
forward by the Wing rcongress, Mr..
Tyler has altogether failed to supply a
remedy for the fiscal evils of the coun-
try. This is not all. He has adven-
tured upon project which is not only
inefficient as "6scality, "but Ultimate
ly dangerous to the public liberty, and
which the public liberty, and which
the Republican Wing party can never
support.
And why? Because it is the skel-
eton of a great Government Bank, foun-
ded upon the revenues of the Govern
ment, 10 be placed in the hands of the
party IN polCer, at all times subserr'ent
10 that party, shifting as policy with
the fluctuations Of purity, aud ever liza
able TO be used and abused as a great
moneyed machine for perpefuating po-
Hticat control IN tie haRds Of tie MANA
gers! Does the simple Republican rea-
der start back with alarm from such q
view of it? Look at the bill and yor
will find it verified to the letter: The
first section gives it directory (calleC
board of COMMISSIONER like any
other bank; the second section grants j
agencies; the 6lih, makes bank of IS
sues; the tenth, bank oferch0ngc; anC
the eleventh, bank Ofd,Scoapf by con
fering the power TO discount bills. 81
that it has in truth all the functions anC
elements Of bank-aud that Bank /;
Bank of the Government, under thu
control Of the power-holding party
What a stake! to he played for by thu
desperate leaders of party, in the com
ing political conflicts ofthe country
| What source of corruPung intrigue
and lavoritlsn, in the hands of ambi
tious men! What a Gre-brand amoni
the people, under our periodical strug
giles for office!
We are told that there are so man
restrictions thrown around this system
that il can never prove dangerous t
the Liberties of the people. True
there are restrictions imposed, and a
, fer as they go, are generally very prop
er ones. But mark! the Secretary Q
the Treasury tells us, truly, 1.-THE abso
lutte authority Of Congress will exis
over the whoIe;" and the President
: language is equally plain" 1t is th
creature Of law, and exists only at til
: pleasure of the Legislature"
D So that, these restrictions might b
: removed in day, by the party in pow
I er, If IL were desirable, to perpetual
that power. The measure as no
; sketched, is to be regarded therefore {
5 the mere entering wedge to what it ma
and will probably become in the hanC
Of future legislation.
0 Congress. Continues the Secretar,
"wilI have created no corporation,
will have conferred no privileges
benefits, except on the publici it wi