Columbus Whig. (Columbus, Miss.) 1843-18??, 1844-06-27
/. NUMBER az.
MN. POLK AND. THE TARTFF.,

III
dency 10 the advocate OF Free Trade, and III,
ncompromlsing opponent Of the PRorEcTTvl
policy 90, far as il relates 10 the consD1DR az
ticles Of wear, used by the poor and laboriiln
classes, he is, as he always has been, Tor tax
/ ing TEA and COFFEE ateuch rate. as II
place IA beyond the power OF tie poosi "a bur.
chase these indispensibles. Ms. Polk was 4
member OF the Committee OF WAYS. and
Means, in the House Of Representative, ii
1882, and signed Report which bears date
Of December "a ofIhat year, which sayssiac
The committee perceiving no snficientFeal
son why the consumers of foreign luxnries
should pay their shares of the public burthens,
propose % raise the rates of dnties upon silks
nearer 70 the average rates of duties imposed
by the bill. than tbeynow are under the ACT %
1882 They also propose to fix moderate
specific duty, equal 10, .ab.nt 20 per cent on
The value upon TEA S, and also upon COZ
FEE. phiek were made wholly fFeesOf 6uty
BY the act Of the last Sammer.''
Z Mr.. PoIk and a. Bank. - -.
WhenTyler vetoed ahe Bank RilT, ls4l, il
80 delighted the Locofoco nominee for tie
Presidency, that he almost turned tolbe sTy-
lerite. The following IS an extract from his
speech at the Nashville Inn, as reported in the
Nashville Union, Oct. 23rd, 164T:
S"4NO 4N0itOu0iy @0lh was GlAdEbCFGW 6Alu LUG
President is entitled TO the lasting gratitude
Of has country, which as one of her citizens, 4
cheey5ulIy accord to him. for Grresting The do
,minGnt majority in Congress from Letr mad
career, and sGUing has country from The dOmtn-
ION and political vacubus of the money PO,Oer'
in the form Of National Rank ~.
Mr.. Polk and the Sldte Banks.
From the report of the Committee of WAYS
and Means, of which Mr.. Polk was Chairman
made in March, 1884, we give the following
quotation, asking the reader to compare the
past history of 5 tate Banks. with what this
Locofoco Presidential candidate says:
."T'he Committee are satisfied that the
State Bank are fully competent to perform all
the services which the General Government
ought 10 require in the collection ard disburse-
ment of the revenue, and to afford also all ia.
ciIities to the internal commerce and EX-
CHANGES of the country, which have
been derived from the Bank of the United
States"
And again, in speech delivered in Con-
gress, on the 9th OF June, 1884, Mr.. Polk thus
concludes an argument in favor of state
Banks for Depositories of the Public monies:
81 have thus briefly considered the two
principal points Of Objectionable alledged un-
safety OF State Banks as public Repositories
ties required ofthem as agents of Government.
AS regards tie first, it has been my object 10
show, from well attested facts, that they are as
safe as Gnyot her description fdgency could
be. That occasional losses, during their en-
ployment for long period, Of time. may be
possible, is not controverted. But should
these occur, Gas is not anticipated,) il should
be remembered that such losses are incident
to all credit, and is not likely to be greater.
Nor indeed. under the many guGrfS contained
in this bill for the public security,eSo great as
that acltch might reasonably be erpected from
the emg1"y".e"t Of any other description g, q
second obieciion-the alIedged incompetency
ofthese Banks as fiscal agents-the manner
in which they have performed, and are per-
forming these duties, must remove all doubts
tOk,ch may hare eristed on that point. II Is
no logger question Of doubt whether they
can, with facility and promptness, transfer the
public funds to the most distant points for dis
bursemenr, and perform all other duties tOhick
as fiscal agents, they may be required TO per-
FORM"
!. M. Polk and the Sub. Treasury.
While Mr.. Polk was canyassing fol. the Of
fee Of Governor il this State, last summer,
the Locofocos of Memphis addressed him a
long string of questions, 10 which he replied at
length. One question asked him was,-"AFe
YOU in favor ofthe Sub Treasury System pass
ed by Congress in 1910, and repealed in
lS4l!" To this the little, man repliess ,e,,t
."Ianswer that am. / fully submit 10 you
Gentlemen, whether such Treasury or plan
of fiscal agency Gas that proposed by MFs
Cay's Bank BILLY is one which you can APP
pro' e, or which you prefer to the Indepen-
dent Treasury System, under which Govern
.f
it in Treasury in fact, and not in theory only,
under the care and control of responsible
agents, selected by the people according to the
Mr.. Polk and Sterling Bonds.
The Locofoco candidate for the Presidency.
is opposed to National Bank, because For.
eigners will become the owners, in part at
least, of the stock of such an Institution; but
he is decidedly in. favor Of Foreigners owing
Q took in our State Banks! See the following
extract from his Message to the Legislature OF
Tennessee, in 1889, p. g:
alt is respectfully submitted. that If the mil
lion and half Of State Bonds authorized by
the act and remaining unsold, be now sold, that
the Bank would be enabled by the increase OF
her available metallic capital, safely to afford
such additional facilities as would be required
to relieve the immediate pressure, until .tbe
procee dings Of the present crop will afford
more solid and durable relief 1t IN the pres
emit stp 70 of the money market IN The U. States
they cannot be sold at psr with the interest
payable az at present authorized, within the
United States, it is worthy of consideration,
whether If they were made sterling bonds,
with The mteresf payable and without any lns
crease of the rate of interest, they may not IN
i short time be sold at par, ifnOt for premium.
r. evrvnd hn q matter az No greater inCOnven-