Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1844-07-26

Treasury on tie other the latter having been
repealed in obedience 10 their pledges 1t is true
all did not agree on this question in Congross--
they had not agreed in the previous cGnyass-a
will not, cannot, agree ulon the precise measure
best ADAPTED to furnish sound national 1cy.
They did agree however upon a measure which
was neither bank of discount the one hand
nor the Sub Treasury on The other. The Wings
Of that Congress harmoplzed as well as they could
to achieve the great end--a good currency-in
which both the Wing friends and the Wing orpo-
nenls of national bank concurfed previous to the
election of 1870 and they brought forward and
carried their measure in Congress. Has hGt q
BANK, such as the locos pretend that the Wings of
1910 would no, ack. ,le6ge,-a monslrous bank
to initiate or contruc$ tre currency at will 80 bank
with powers sufficient to contend against both
government and people--a powerful and danger
Gus engine, such the locoloco presses hold
up to the excited and frightened imaginations Of
the people? Mono; it was no such thing. 1t
was shorn of all the distinctive features Of bank;
it couldn't bribc member of Congress or buy n
vote for it Gould not loan dollar 1t was to re-
ceive money OF the government and individuals on
deposite, and issue certificates of depCse, do,iar
for doiiar simply; these ceriic ties were payable
at any desirable point, and being receivable for
public lands and duties, would always be good as
gold and silver. 1t thus furnished sound and
perfectly safe national currency equal to the SnouDt
OF money depositedin other words, it converted he
specie, bills Of speciepaying State banks, into
bills convenient Cor the use of both Government
and people, and perfectly good in every section of
the nation and did this without adding dollar to
| the circulation. This was the measure-tbere
not feature in it which any anti bank locoto-
CO could complain of if he understood it lit was
harmless in its powers it secured that which is
essential to the of every branch of business
Il sound and safe currency, Which would enable
the South and West to pay New England for her
manufactures and New-York for her foreign goods
-end we, in turn, to pay the South and West for
their cotton, tobacco and four-without having 3,
10, or 20 cents taken out of every dollar by the
bankers, brokers and notc-shavers. This was Tie
measure; it would give currency such as The
Wings were pledged to give; yet it was rot
! Bank
The locofoco charge against the Wings, on this
Bank question: is contemptiby mean in the light
of these facts and we will add, that the monstrous
stantly held up to frighten the locofoco party into
tie support of Polk-Just some mothers Tighten
little children into obedience by warning them
that bears will come and de our thern-s mere
creature of the imagination The Wings are
pied. ed one and all, to give A SOUND Ma
TIONAL CURRENCY. We glory in tina, fact:
it is the good old republican doctrine of Wash
ington, The democratic doctrine of Ie l6, the Wing
doctrine of 1910 and 1914. But we are not hound
to retain the old National Bank MIR. Clay is rot
bound to doit; from the very nature of the case
from the contrariety of sentiment on this point a.
mong the Wings of the country-we believe it will
not be possible TO create such bank, even were it
demonstrated to be dcsrable-7'he result will
probably be a compromise, harmorizng of diff
erent views, upon something like the Exchequer
scheme of 1912, ,rhich ,cW auoid the euis OF bank
on The one hand and the euis OF a bal currency on
The other. This is the true state of the case
Now, ,rhat do the iocotocos propose? While they
are bringing their false charges against tie
Wings, are they concea,ing Their principes? We
call upon the Patriot to avow the oculoco policy
not what you are against, but what you are for. Is
n 1.-THE sHb treasury which j. X. .olk opposed and
4 then supported? Is it the ROTTEN PET BANK
SYSTEM, which James X. Polk reported and sup
ported and afterwards abandoned for the sub-treas-
ury? DO you go for HARD CURRENCY and
LOW WAGES, as i'll 1c40- or for inflated state
banks, Michigan wild cats, aud the hurricane of
speculation which your party produced in 1886?
} Your man Polk has supported all these, and you
can therefore take your pick abuse the Wings, if
J you choose, but do not at the same time add the
maanness Of conceditng the policy Of ysur own
party.
4 We know the position assumed by the Locofoco
National Convention Warned by the Tremendous
defeat which the sub-ireasury suffered in 1910,
this Convention has not openly avowed itself for
the sub-treasury; but 10 the understanding of the
ocofoco leaders, the party is committed to that
are; yet they try to conceal the fact from the peo-
ple-try to cheat them. This hue and cry about
bank is merely intended to bambooze the people into
the support of the ocofoco policy of 1910, viz: The
sub-keasurs, ,car upoa the State Banks, and eOnse.
quent,y iotc icdges 10 labor!
FACTS FOR THE WOOL GROWERS.
While the locofoco presses are straining every