Holly Springs gazette., 1843-10-27


THE sUB1REASURY
The gradual process b. which the Jack
SON Van Baren party went on ff0m one.
Driae.p 10 another n their warfare upon
The currency IS noW familiar 10 he puoiic
mind
~ first ,he Bank Of the united States
eas denounced on acco0nt Of alleged de-
fect ia lis plan tbe President Cen JACK
SON, declared shai he could devise Better
one Next. the entire pilDcipie 81 Na-
sional Back was reptobaed, ma party would
have nothing ofthe kind pbe State Bank
system then came into favor Hbe Ma
uonal Bsuk was destroyed the public mon
eFs deposittd IN local Banks thIaug bout the
country aaa Official instructions % use il
literally 10 discounts new Banks ueze uul
.ipied b every State 10 make ab4adaul IS
sues that the people might see that they
could 40 without The National Bunk. The
Te5un5snl currency winch followed, the ex-
poftations Of specie which took place the
revu!sion vbieh came next. together with
the general explosion Of the Whole inflated
syslem-these things are Too well known
because too painfully remembered
Wnh the disruption 81 TIE State Bank
+ System he Sab-1 rvasarg was Introduced
as the f0al experiment L aal % efisieni
action during The short period q Nr Van
! 8Hrens administration which remaiaed af-
/ ter is establishment l. IS stlii however,
.he lavofHe policy d :he paay-the only
measure. NFe beiieve, upon winch ali sec
tionS Of hat party agree. We are iHdaced
+ 70 blade 60 Il bv the following passfge u a
late number q the Missouri siandaad, :
papef which IS saii 70 ae the especin! o.
gan 81 ar Benton
"Fhe gfeatesterror committed By lLa I'D
miais.ration Of Cen. Jackson. was tbe choes-
+ 5og. Of the Stale Bauks IS IeceplacIes for
the pablic tfeasafe flad hc. instead oil st
lgeu0g 3eposige Banks. presented ii1e inde-
pendent Treasury Plea, tof heeP}a 8 he pub
I ne moneys, and used MS inhIeoce 70 pro.
cure It's adoption, We belieFe Il Yo1.a have
been vastly b=iter ier tie country, aud tho
+ Democratic party would nal haze losl lhc
important battle ol 1916. There would no
doabi. have been much opposition 10 the
measure oftaose members OF Congress who
i were interested ia the Slate bdnks cut s4ti
1 IN al pFobapiiliy, Il would have been car
/ fled aud Tue country saved from ne cvi! ei-
/ fect Of the state tank system However,
there IS 40 use ol lainenilng ovef that mis-
step ol Jackson adininistF3tlon--iie and
ais advisers no doob, believed they we're
actng fer tae best they had 20 pfocoed.too,
without the sure light sof experience which
1 the Democratic party nov possess, anti
which vii guide them 10 their endeag9fs
I 80 asene for the mistake they made n adopt
ing The State Bank system
Nhen Tie Sub'reassrY vas first PEopgs
I'd 10y Cen CHofd1n, ot Virginia. during Tie
coatsaaanca Of lbe STATE BANK experiment,
s & Vas cenJemaed by Soc Jackson, aao by
he ieadng presses O. tis pafty-the 6iobe.
the tiesmood EnqaiEes aud Albany Ar
gus So ~ hea- Als Van i5afen afterwards
adopted IL these presses. ard the party gen
eFa!ty, found maay exeeiiencies u TITS pre-
sloassy condemned S1o, Ifease9y The
relecll4n 81 Il a8 the popular voice, as ex-
& pressed a is40 has not induced - aban-
donmeut by lie patty 4 restored 20 pow
4 er. they <ili press ll again 70 adoption.