Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1844-12-24

ci,les upon which The questions nave :
heen adiasisd. IL remains for Congress
10 make the necessary SpproI ria''oE 40 -,
carty the ana0gemsni'inl0 effect, wRch
respectfully recommend,
'Tbe greatly inproVed condition Of 'he
Treasury, Afi',fds subject tor grnefa,
TIE paralysis which had
fallen on trade and cnmmeIea, and which |
subjected The Government TO the neces>
siiy Of resorIing 70 loans, and The issue
of Treasury notes, 20 large amount has
passed away and, after the payment q
upSards OF 2. 100000, on account OF the
interest, aud in redemption Of more than
IS 100000 Oflbe pubic debt. which falls
/ due ON the lsl Of JannUy Dex', and SET
ting apart upwards OF Sg.OO0,OOO for tie
payment OF outstanding Treasury notes,
ana meeting an insialment Of the debts
of The corporate cities in the district OF
CDlnmb;a---an estimated surplus OF up
wards oil ST. 600 900, over and above the
exstieg appropriations, will remain in the
J. Treasury At the close Of the fiscal year.
should the Treasury notes continue OUT
Andlng, os heretofore, that surplus will
be considerably augmented. Although
/ all Interest," has ceased upon them, and
1.-THE government has invited their return
I to The treasury, yet tlbey remain outsisn
{, dug, afOfding great facilities TO Com
) msrce, aud es,a fishing ihe fact that, un"
( der we'll regulated system Of fnance,
5 tho government has resources within it,
3 sell, which rsp.ler il independtn'in time
Of need, NOT only OF privIie loans, but oil.
i so Of bank facilities.
The only remaining subject o. regrel
II is thai the remaining stocks OF The gov
eminent do not fall due at an earlier lay
: since their redemption would he entirely
within its control As il is. il may be
d well wotihy the consideration Of Con
gress, Whether the law establishing the
If sinking fund--under the operation OF
o which The debts Of The revolution AM
e last war with Great Britain were, 10 q
:, vreal extent, exinguished should no
!. with proper notifications, $50 as TO pre-
a vent an accumulation OF sutplus, and
"a IimNed IN amount TO spec ecfic anm,) b.
!. reenqcfed. Such provision which,wonld
81 authurlzs tho Governmoi to 90 into the
~ make for plThase Of its own stock, OF
ii fair terms, would serve TO maintain IN
70 credit al The highest point. and prevett
10 to great extent, those tlicIuatinos il
70 The price of lis securities, which might
B under other circums ances. aifcc. is cree
70 lit No apprehension of this SORT is, o
antortatOcd utnrn Tim
n, stocks Of the Government which bul twf
years ago were offered for s,e to cabl,
iaIists, at home and abroad, alta deprccia
; lion, aud could fHd no purchasers, are
I, now greatly above rar in The bands of The
:, hnldcrs: bul wise and prudent loIecnsl
sdmonshes us loplace beyond the reach
! of contingency the public credit.
II Ii mus alsO be a mplter Of unmingIed
,e gra liealIon, thar, under The existing e
,f nancial sysiem--resling upon The act 0I
ID 1889, and the resolution OF iSl6--lhe
% currency Of the COUNTRY has attained
J. slate of perfect soundness; and the rate,
e Of exchange between different paris O
y The Union. which in IS4I, denoted, b,
!. their enormous amount, the great depre.
10 ciutlon, aud in Ia I wnrlhlossness Dc the
= currency in most ol the Stalcs--are nOW
Il reduced TO lnle more than The meit
expenses Of transporting specie from
% place 10 place, mud tho risk Incident t.
the operation. Ia anew country lkt
" that Of tho U1iled Siules--- where 20 ma
!, nv Inducements are held oui lrr spscu
}. lalon--lhe dtpositDrips cl lhi sufplu,
n rCvsnVe, consisting Of Banks Ofany do
!, sCripliun, when il reaches any c0nsidera
o Bile amount, require The Viglence on The
il part Of the Government. All banking
linsliutioDs, under whatever donomina'
Y ilnn they may pasJ, arc governed by an
. almost exclusive regard 10 tho interests
3 uf Tho Stockholders That interest con
sisls in the augmentation Ol profits, in
/ he form Of dvlden ls, aud q large surplus
revenue entrusted 10 their casto,ty is hui
TOO apt to lead 10 excessive ouns and "a
! eXlravagantly large issues Of paper. As
necessary co Olseqaencts. s.pricos are nom.
iDally Increased. and 'he speculative ma
niu everywhere seizes Upon the public
: mind, 4ta
hciitlon9 s'aie OF prosperity for
season exists; and, in the Ilnguage oi The
day, none, becomes plenty. (;ontrscIs
are entered inIo by tndisldnsls, resting
upnn this ursubslancdl siBte Of things.
bot the delusian speedily presses away.
snd Tie country is nverrnn with an IN,
debIcdncsIso weighy rs 10 overwbolm
mani, aud 10 visit every department OIL
iafasirg with great and raihons embar.
basement. The greatest Wig lance be
eomesnocessaFy on the par, of he Gov
efnmeut 20 guard against this state n
things. The Repositories mus, so plvep
distinctly 10 understand that the fsyo,s
Of The Government will B., altogether
Withdrawn, or substantially diminished.
il ITS revenues shall l,e regarded as addi
tions 70 Ihcif banking capital, az is ,he
foundation Of an enlarged circulation. =. |
i The Government. thfnndh fts .,,,i ,l.tit /