The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-02-11


Ist OF the amount Of Goyernmea disbursements,
arreeably 10 the estimates by the Secretary of the
Treasury
2nd. To empower the Executive to purchase from
each State PAYABLE in Treasury notes as much land
as may be necessary to enable them to pay of their
debts.
3D. To empower the holders of Treasury notes,
being citizens Of the United States, TO recover by
summary process before a magistrate within the jul
risdicton of the United States, or any individual
State, the amount of notes held by them by seizure
of any property of the United States other than gold
or silver-iudgment with costs.
4th To prohibit the expectation of gold and silver,
under any pretext or TO any amount
Government dues should be receivable only in Ex-
chequer bills This arrangement will oblige public
debtors TO purchase Exchequer bills for gold and sill
yer The gold and silver accommodating from the
sale Of Excbenuer hills will be again put into circu-
lation ,hrongh nayments of Government disburse-
mems In coin after the receipts of the first year
haI have haen onticnated by an issue of notes and
h. 49,, ~. oon,rnrnnifx y ana any hank existing
afer the ssue Of those bills OF notes may be ayaa-
HE for Temporary depostes in account because all
hanks will NV The operation of our system be Obliged
m resume specie payments or the liquidation of their
capitals
Tbe difficulty of providing for the keeping of agra
rian produce or property other than gold and silver
and bond and mortgage will be obyiated by the hold
ers of such property first arranging with the possess
sors of real estate for bond and mortgage transact
tion and then presentinp that security 10 Govern
ment
To conduct the details of the Excheoier system.
we require no board of control at Washington or
elsewhere no MULTIPLICATION of officers or increase
Of patronage in the hands Of subordinate executive
officers. The Treasury Department. in all its
branches ran,6ed throuobout the IInion win he an
efficient agent to propel the circulation through the
vessels or orr consolidated system and Look after the
| registry ~ honds and MORTGAGES so our commerce
and monnfacures the arts and sciences the consum-
ers merchants oneratiyes and caniinlists. every
branch of noI;,;caI economy and everx Interest in
the social condition would ibrvc and ihs monetarv
system become the bond Of federatiye union
for no State could withdraw from or dsmember the
Union without cutting the snews of its power in the
derangement Of its currency which must cease with
its integral identity in the Federal Government
The management of fiscal agencies will re-
onire no attention for the prevention of fraud
because our arrangement will remove human
fraiIty from temptation. 1t is better to say
!. Lord lead us not into temptation" than to attempt
Strengthening the honesty Of man. for the abutments
If official honds and responsible securities are scare
ly ever available Notwithstanding the great preya-
lence of honorable men, for we are all honorable
men few indyif luas can be found who will readily
and from nrincinle serve vo,,r n,,rnose Narrower
Il is dcut 10 discover and entce from their retreats
those who NAV he bound To he honest by their con-
nections in life or whose condition and character
would suffer so much from the defamation of dsho-
nasty "a 10 counterbalance tie aayantages to he de-
rived from, the nrohahle Fruits ~ efaca1;on There
fore tho honesty of pnhc ofcers sbau he .s.,sd hv
the removal of temp,at;on All notes Maid INTO CO
yernment shall Instantly he cancelled by the sigma
tnre &c collectors nIaced tberenn tben cut and re
hrned n Tho holders in len Of rece;nts Theso
celied no,es sbomd ha entered ~ H. Irn,ad Statas
Treosurv Denartment ~thoir recan, no,;ned ~, tha
holder and transmitted n the origin of ;ssne for r
creation A fa,y of the advan7ages ,ttendna th;s
Man n ,m;versai currencv orc e 80
L., A 6rn an nn;rnnsacb.h,. ma norn,a,an,
hond &c ,nion 20 tba faJara,ion ~ tha p,,,nn, s
,,h;ch ,ha nronor,,, of III ~ Ct, LII ipa -
s,ret, f'0re' -
Cd A. ,n;vo..., ,,o,;,n, ~ .,,,on.,, - ,,o,o,au,
a.. .ai ouun "a ~, tency' VI nioho'aiy
~, 49,; c I "po' P'oP''9' a''u oon''iuon' o4u'i'
~" on p D. = a.
f ~ ~ -: a. 80, Wy .. y ,'o .
~. 'lo puoaic uo,aismlus Placing IN circulatlon
elo iu.o''en'' uousn io'Poi'spie lesoulces u inc
- =, ).
t,ii lcieaso " aStaian exports 10 the amount OF
soiu anu SILVER "nhelo ny .he Prohio.ory act ana
asgranuizemeht OF ue agrariah system oy furnishing
iunes ior he recovery oil lanoW ana Improvement oil
reai estate.
oth. Cohcihation OF conllcung interests by obyl-
ating National Bank or a Sub Treasury system
6th. saving to the nation OF millions in taxation
ny an issue oil hundreds OIL millions OF Exchequer bills
nual and gradual redemption of Excheauer bills as
he funds accunulang from the interest on bonds and
mortgage and proceeds of public lands, for appro-
prated to the relief of taxable property
7h The operaton Of this system If universal chr
rency would transfuse new life inIo an exhausted
frame II would regenerate the morals of public off
Gers of stock obbers the great mass of soeculators
and the people at large. 1t would afford a medium
for the universal interchange of commerce Of fiscal
life, and of all the relations incident to communities
Of men 1t would be the twice-bIe and merciful
rain to the parched and suffering earth tho blood 10
the dry bones, and resurrection 10 The dead-dead AS
we now are to the world and to our own honor-con-
temned by the universal loalhsome, offensive corse
of repudiated faith
The spirits of past ages frown upon us-the ghosts
of our ancestors abhor us-departed honor mourns
upon the pedestal of grief over a NATIONS pcrfdy y
nation whose glory Providence once elevated upon
in whom am well pleased tho child of nv ow heart :"
r., IN, r.scu. tha, ayary ,,., IS -, .,J