The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-10-13
:" AN INDEPENDENT TREASURY"

Treasury has faithfully followed the guidance
of Jefferson I'VE deem il proper to open De
mocratic battery in its favor, and one OF equal
calibre, too.
We ask the attention of our readers 10 The
following article taken from the ~ y. EreniRg
Post:
MR. JEFFERSON on AN INDEPENDENT
TREASURY AND A CONSTITUTIONAL
CURRENCY.
MIR. Editor Having referred in your columns Of
the 29,h ultmo, TO the proposition oil Mr. JEFFERSON,
which was 10 make use of the treasury note as q
means of reducing the paper circulation OF indivld-
nas some features were suggested as proper ior
adopting such notes, under the present authorized Is
sue, TO accomplish this end. These were that II
should be payable IN specie on demand, at the COM
tnercal centre of the Union, New York and bear
tue low interest of one mill This was considered as
the oaly practicable step that be taken during
the present condition of parties owards securing one
of the great objects for which the democratic party
have so long contended.
With the government itself, this would be mere
choice between issue OF treasury notes bearing M
terest and payable future day specified or at its
pleasure and an issue Of the payable at the
ton of holder. The object of these notes IS 10
enable the government TO meet any contingencies,
either immediate or more remote, Tor which rs APP
pretended that the ordinary revenues VIII not iur
"'7" - V,Ff'I'
notes bearing interest to be issued, they eau
DC OF 10 service UNI, 'ney ha'u ueen se"' gu. !.
agents, VINO procure ua"hs " '.'"' 'u""' W u'9 ,
ihem' ana inc iuhus MUS ou'aineu ioin iiui' 'u 40
or inc credh IN banks become tnc oasn "h'on NY
government uses oh the o'ler manu. II VIC "o'e =
issued payable at the option Of the holder, II goes
forth as cash, without the trouble, risk expense oil
getting IL dscouhteo' ana the government - ro' oe
hoiuen " 'po VI P'P.' "o ~, ~, a.
assistance IL eau haAe ''o 'sue a. VIC -,
con'nson,y o'euls, "i'"u' ~, " feP
ring lor II long oetorehaho mus ,ne oVJcel "'o''
qu,eAiy anu lnuePenoen'iy Accom- Pn iu' ~,
% a,so uooo 'ai mo-. eeo.o'I!' 20 -,
re,t Vi '.o uoo - 80, "''o' =, ,,,
noe., ~ pc -, ' ISL. ~. "a e 80
, n,, y, e. IT.. ~ 49,, e. H.
'anu ia -. ~ 49, L,,rasaa "a ,,..n,v .Gra
s SAINT I'M "oe1 NJ - ' g., - 80 49,
''ious'lu uoais ms p'y,us w ~ ~ 80,
o"a n' IA a., 80 ~. ,,si,aIiv s,hs,tn,;nr Iheir
na"o'a '' -, :! - 81 - -
y" u " y. ~, 80 - al j.; go.
ulc pleseT, ioin, "ou'u oI az onh, ~
we. .nusos s0 Of reven,,e ~ The Covsrnmsnt
~ -, si,,,I 80 a., M ,an,oa q,
- 'ne M. s,p'e 20 pl 'n1s a, 49,
y - W. So l;.a ~ ~ s. -.
81 ~ = ~, ~ Laa,Io, ,s - ~
a'i ~ $500 , aacot -, -, ,ba Gov
s''' 49,, g." ~ ~, az ~ ~ L., .c
Sa. ~ a,,nn, or a. 80 c 49, rrraas,ry
w ' c' 81 ~, w. go
no'e' III 'I io'. = eo' :, '',e
- H.
" w. VIC 80. c - - 49, 49, I,,;
- -, :, ~ dan,and III, ho ,'ndua
~ SAM IN W '' ~ - 80. 2 -, - =
aiu not suuuen aiu 'P'u iol we ''
ho'es renoer "ouiu oo i'qu'eu ~ e'eiy qua'ei ~
the country WINE 'ne P'ase "he'e ,ey are ps1aole
IS local. ulousn q. 'ie eoniu'e'cisi cenuo. inu,
much WIN regarG 70 we interest o, 'he oo'tliuien
aone, IN 'ns hiou,leu lorni ., we ilessuiy no'e''
but there Is announcer view OF ,h's SUBJECT more eA
tensNe enu equaIy lnlPoi'An 70 oe 'ahen' ~ ,uo
'nnuenoe VI ul's enanso ~ u'9 ieauios VI ".
su'y Loto upon we ~ ".
zen az .n' 'uie may oe oons,ueleo a. ue 9o'teo
posi- me peihoe.s,fe pSh'Y ~. ,'sss IN 6o''s''u'
treasury On an anu usiinc' oasls aid 70
require ~ apsolu.e'y 70 use oniy 'he CONSTITUTIONAL
iunus vi 'ne "heh CONSISTS Oh us corn
ana 'ue loBai%yu CON oi o'ner hauots, ana us eIedH
10 'he eHc'' uS' cop'ils cncies may require Inc
Only nloue oy "hicn, al present, ,he treasury can
use coi"' - uS Receiving anu paying out u'e aFucie
ieeh' OF oy receiving the com ana uisourslng IL 10y
means" VI ur'it', w" y u'e ease ust the oo'erh-
men' psys out ulo mus o' Us iuhu' on 'he seapoaId
oul eoiecS 'e', idIse sums ~ tne lh'erlor oil uie
country.
IL, ben, ADOPTS we course OF receiving and pay
ing out com, that which IL collects al The west must
al IT'S own risK ana expense, De transported 10 The
East oh the otneT mana, u IL adopts ue course Oh
receiving com, but oisburslng IT by drafts then IT
must issue these drafts 10 us creditors al The East
when much 0i the funds lor redemption are IN some
distant quarter OF the West What Is the conse-
quence Why the draft Immediately depreciates and
becomes at greater or less discount, according
the distance and difficulty Of reaching the place Of
its payment. inns VIII be the case with every draft
That not payable al The commercial centre OF The
Union NOW, VINO Is 10 lose TINS DISCOUNT Shall the
government or It's creditors The government bears
tie loss, Then here an item OF expense most heavy
and severe, Tor the drafts will be at discount from
one TO twenty per cent Shall the creditors be forced
TO bear The loss Then he VIII raise his voice with
indignation. lie VIII say that his claim was just
one, that he has perfect right TO its foil amount
that It Is feature OF tyranny to force him TO take de-
preciated paper, and thus be satisfied with only por
tion OF his claim and the sentiment Of commercial
people wil respond TO The justice OF his assertions
TOW, uen' shal he government AVOID me RISK and
expense Of Transporting the specie from the West
escape the loss on deprecated drafts and at the same
time be innocent Of all eXiortiOns from its honest