Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-02-17

gTOuud OF mere WoTds-aDd WotVs
or,eu intentionally vague in the(r im'
oor-il became Us 10 ansIy Fetbo hing
Now, Mr. C. positively denied .iha! ING
Fxcheouer was bank in any sense ot
the word popular or scienufci an, %
challenged gentlemen 10 shoo -maNs
there was in IT any thing analogous %
a hank which was not equally 10 oss
found in the Treasury, either under w
Sub Treasury lew, or as tblnge poX
stood 1t did, to be sure, perform a9
which we're in themselves the same 60
the scls Of bank" ar. 4. 81
The gentleman (conliOued Mr. tJ
saws we should look at the ac's perform
ed by an institution 10 see whether u 70
bank or net, and rlen he assert: moS
uncuahfedy that lhls is no bank a0qq
concludes BY The assertion that 1t does
perform acts winch are 10 themselves
scry cl a bank. Really, sIr,, . {leEeG not
some ,ro III in the frat parr Of this pare;
graph of the genlIeman's speech "nere
he says "he had often been sJrPrIsesa1Y
YES. and hnmbled too-=-to obtstgs, ho~
ollen words could be put, and that u
+ yery sensible men, in the place oI mug:
and as a mask for lhlngsT Mr. r Tpp,'
/ srdered that,he gentleman had woel W.
Iy exempllhed The truth OF InIs lhaug"~
5 Ter ... t,.xv, A..hi>
D was no bank, aud had attempted 70 glIs
!. them definition of what bank was hS
had sl,d, 10 be sure, this performs me
acts Of a hank, yet tits no Oanks Oan!s..,1 MY
, F had himself been somewhat ITcuolee
VI 10 find very satisfactory definition Of a
n bank. . p,ia
!, Mr.. Cushing desired the aoor 10 Puts
d question TO the genlman. .nuoa
Mr. Fillmore declined To yield I GO
,e accoun, OF the shortness Of the time al
" lowed him. .t,s;cL
Mr.. F. had definition ofa bank wh'cN
he he had taken from GOdard's work on INC
y history ofbanking n The United btaIsos
he He had taken his definition because y
I'D was more applicable 10 our inalln,ionlSS q
he than the definitions TO bo der'7eo iEoVI
is. aoy writers on currency or political e.
Or. economy 10 Europe GODDARD says', :, -
he tln commsrciaI language, bank is 2
,es repository or an establishment, lor me
sk purpose Of receiving the money oi inol-
- ylduaIs, either to keep itin security, or
Ind 10 improve it by lraficlng ii goods, buI;
his lion, or bills Of exchange; and i may %
hat either of public ortprSate nature"
ans Now, if his was true definition 0.
iall a bank. land It struck Mr. F. thai j wasl
re it would be perceived that this Exchr
ifc oucr came precisely within the detnl
Of ,ioh of a bank. 1t was. firat, an lnss'
the tuIon or repository for the purpose .
to receiving deposiles from individuals, q
either TO keep them IN security, tWh'ct
say i, prolessed-and how far il might y
're. able 10 carry out It's professions cou'
ked only be ascertaiued on lrial@-but II pro
ia iessed TO keep Ihem 10 security OF
low improve them by trafickng 10 bu'llof
aw, goods, or bills Of exchange, and 7 wa
ub- authorised to deal ih bills oi ezehans
y o both by buying and selling them. .
and Here was definition from one ol IN
any standard writers Of our own coNhIF
ould which showed this ExcheqGer 10 be
i5lc bank, 1t was The definition OF a write
d be on The subject who was disInIertsled,
ID be 40 far might be relied on as having g.
s. en- the definition without prejudice
d BY But Mr.. F. did not rest the IquestI'
pose here. Il would be recUllected that son
l' o' time since they bad long discussion
sp n this House on III subLreasury.. II
D the sub Treasury merely proposed TO fecei
he" transfer and keep the public moneys
o', public officers. THIS plan ~enl sI
Ut o' gether Beyond that, and was to recei
hs'eI aud keep not only the public money, .
Ana The money Of individuals That d
oarus no, authorize the tealing in bills oi
A'' W 70 change, by buying or selling 'hem'
; 'o' This did. II would therefore be PerceI
'ao'e' ed that this scheme went lar beyond
oqgn sub Treasury IN the features o. bal
uU Now, he had the de6nlioh oI . ba
o' ,ne which be desired to read to The hon
'S,O', S'. It was made by q very distinguish
upo" member of this House, and they wo'
!. 2 be ready TO assent to It's correctness
IT, T. II was headed the "rreasurY Ban
- y. 1s and the gentleman was sPeaklng on
- ,hO Sub Treasury. A..,.t., |,
% Inc "TreasnrS Bank -Nolwiihslandl
,o' V the disclamaious ol any desire lor
LA LA ded patronage, under r6Eef ol @h
nou'O :N" this project IS introduced 10 Us. and Z
r rey. WiIhstan1ing my bnwillingness TO
= nj pee, ,ho President Of lnsincetlty In
o,ion. @ matter. still cannot exclude from
80 in mind the conviction that bank,
.ional Bank, National Treasury bs
is ''lhe be all and the end all" OF
new experiment. We begin with
that large issue Of Treasury drafts havI
Go circulation as currency. WeProc'
! been with yet larger issues Of Treasury mol
1O~~t0 ..n.n..i,, Crarnph In ha currency