Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-03-16
,independcnl Treasury system w tend as We believe
10 correct THIS state OF things it cannot be too highly

independent Treasury system vii tend, as We believe
10 correct this state OF things, it cannot be too highly
appreciated .,..,,
F.c, IN the interest II will create, in favor of economy
), Tho administration Of the Government. / he bank
system, On The other hand, produces Inc opposite result
inde latter system, when ihe disbursements ahh
REGENTS a7c large the demand Tor bank notes TO pay
thci great; ana The BaLks are enabled 10 do tete
business hy keeping larger amount oi them IN ciscu
n,,ou and 10 make larger profit by dscoun:g upon
he augmented public deposits. But under the former
stem il is better for the agents OF IT. that The revenue
and expenditures should be as small - possible as their
abnrs mud responsibilities Will he less. ANA Ire bihRs
with all OF their officers, Stockholders and CUSTOMERS
with all their influence will he on the sice of economy
in the Government and low duties, that the demand on
the Banks Tor specie 10 pay thein may De small IL IS
difficult TO calculate the effect oil carrying tins mighty
influence from the side of extravaganza 10 that Of eco
nomy
Nor will the Independent Treasury increase Execu
tive patronage. On the contrary, az compared with
the Bank system. !; will greatly dimnsh It, The tew
additional officers, which lis Organization wll mako
necessary will bear such small proportion TO those al
ready within the appointment oil the PRESIDENT as 10 he
Of but little consequence. The pendent Treasury
having 10 come with the business oil the country It's
agents will not have the power OF influence and CONTROL
by favortism which the other two systems confer IN The
manner We have pointed out hho'he patronage wh'ch
the appointment Of the few officers will give, will be
more than compensated, by the reduction OF patronage
which will follow the greater economy IN The admins
talion. The principal part "f the patronage of the
Government as has been frequently shown by reports
in Congress- By Mr. Benton IN lo2G, and by MIR. Cal
houn in 1854 originates in the collection aud dsbnrse
meot of the revenues; and the larger the revenue the
greater the patronage.
But il is said the Independent Treasury system does
no, furnish exchanges for the community In answer
10 this in the first place. say, II IS no part of their
business and the Constitution coniers no authority on
CONGRESS to do So 1t is more The business of the
General Government and it has no more right TO fur
ush Exchange 10 the merchant, to transfer his funds,
than is to furnish wagons and vessels to The nrnier
To carry his produce to market But in lis drafts in
favor of its creditors upon its repositories, it does 70
m extent equal to its revenue-some tweny-odd NIL
lions of dollars per annum-fnrnish medium of ex.
change The greater portion OF The revenue OF the
Government collected IN the large Cities where the
business o the country centres, and exchange gene
rally favor of them; and 1t be provided, that the
drafts in favor Of The public creditor shall always be
drawn upon the depository, u will always be al
par above il, and the Government will have no
opportunities of showing favoIitlsm.
Bat 1t is known 10 all business men, that the de-
engagements Of the exchange originate principally in
the fluctuations of the currency. Correct that, anc
the exchanges are regulated This, we believe, the
Independent Treasury system will greatly tend TO do
We claim, that this system shall be tried The Bank
systems both State ard National have been tried, md
they have iu:led. This repealed by the Wings,
under circumstances which raises the belief that they
feared il would succeed and destroy the preieSt for
National Bank. CALM OBSERN Elk.