The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-01-20

TIE EXCHEQUER.

President 1yi " in his IA, sage has again reeam.
mended this MEASURE for the safe keeping and Dis,
bursement OF the public moneys providing national
currency, aud for regulating exchanges. No doubt
exist but that the plan proposed Will accomplish
these objects. 1t proposes TO make the Excheauer
with It's branches, the Government agents for reeey
ing aud discussing the public moneys, and that for
every i've millions specie il shall have the authority
TO issue fifteen millions of bills thus in fact increas
ing the actual available means Of the Treasury one
and half per cent. These bills are at all times 10
be redeemabe al the places where issued and ever,
where TO be received ia payment of Government
dues, they viii always remain a par with speeie
and afford safe and convenient medium OF exchange
and at the same time prevent the necessity of the Co
vernment Tor paying heavy interest upon foreign
loans made ior The purpose of meeting its expend-
lures.
The for the safe keeping, and the faeli,ie,
for discussing the Government revenues under the
proposed plan equal If not superior to those of
any other, the business Of the Government IN for
warding and discussing The revenue would be speed
ny and easily transacted, and the means for meeting
ITS demands, even in the most remote parts of the
country, would be both safe and convenient
II Is also proposed to make the Exchequer. not or,
y the Government agent, but TO afford facilities for
every department of business, by dealing in bills Of
exchange TO limited amount and issuing certificates
OF deposite to be redeemed on presentation nv
these PROVISIONS the greatest advantages are 10 he az
forded TO the commercial and trading interests of The
country Drafts or certificates, Of equal value in all
parts OF the country will be obtained at the Lowest
possible premium, while the introduction of n mi
form currency will prevent the circulation of sucb
notes, as are only at par at the places where issued
The Exchequer Is TO be the great national regulator
hoidihs IN check and preventing issues of ali
banking institutions, without deprvng the people of
the facilities which they afford, compelling them to
certain extent, TO withdraw from circulation all
bills OF deprecated or doubtful character
The Exchequer, without the feature which pro-
poses to confer the greatest benefits upon trade and
commerce, viz the power to deal in bills of ex
change, and to issue certificates Of deposite NAV be
said to have been in actual operation for the las, six
years IN the Government issues Of Treasury notes
The benefits OF such issues has been confirmed nv
the repeated approval and sanction of the same by
Congress. II the Treasury of the Government has
been relieved, and the business of the Department
facilitated by the adoption of this one feature of the
Exchequer we may confidently expect that | the
country generally, will be equally apparent should
The whole plan be put into operation.
The furnishing of paper medium of circulation
which shall be adequate to meet the wants of the
business of the country which shall be at all times
oil equal value, being received in payment for Gov
eminent dues, and at any time redeemabIe in gold and
silver desideratum in the business and prosperity
OF the country which will justify the Government
IN resorting to whatever measure is most likely To
produce so desirable result.
Let the proposed Exchequer be adopted LET if,
advantages be tested the probable benefits are suH
Gent to counerbalance its possible evils We hone
the present session of Congress will so far Law aside
Its party animosties as to give this measure that con-
sideratlon which its merits deserve. The leading
wing papers OF the country are in its favor, and il
Is believed that the Wing members of Congress
will fail to meet the appreciation of their constituent,
II the session shou pass without some decided fayo
rable action on this subject.