The Ripley advertiser. [volume] (Ripley, Miss.) 1843-1897, 1844-04-27
THE SUBTREASURY SCHEME.
A FEDERAL MEASURE OF 1890,

FEDERAL MEASURE OF 1890!
What will our Loco Foco friends wi
pretend to have such an holy horror for an
thing that ,ayors of Federalism, think. whe
they are told thai the Sub Treasury Schem
was fret recommended by Alexander Ham
''on and that he was its sI;'hor. Well may
you stnre in wonderment ana surprise
modern democrat yet it is neverhe.'es cor
rect. We see thT "democratic'' party head
ed by Martin Van Buren,, att empling IL
ias'en upon our country project which We
conceive 70 be the mos, dangerous ever of,
tered ny The ultra Fedora lists The extract
fnrnishedus from the SteubenvIle Herald
which We give below, bears US Gilly out il,
saying that Alexander Hamilton was the
original Inventor and proposcr OF the sub
treasury scheme whichyMr Van Bnren fas-
tened upon tho nation, and for which main
~ he was kicked out Of The Presidency In
1886 Mr.. Van Buren's Secretary Of the
Treasury recommended the scheme to Con
gress By the declaration that sit was urgent,
ly recommended by this Department as
early as $780, From 1890 to 1895 Al
exander Hamilton was Secretary Of the
Treasury and Of course was Secretary IN
1900.
ass Ihe following 10 the faur b section OF an
ncs entitled Gan act to establish The Treasury
Department. passed the 2ndof September
1852. when Alexander Hamilton was Sec
refary of the Treasury:
"Sec. 4. And be it further enacted
That it shall be the duty Of the Treasurer
to receive and keep the money of The United
States, and to disburse the same, &c He
shall at all times submit to the
the Secretary of the Treasury and the
Comptroller, or either Of them the inspec.
IL Of the monies in his hands,"
The follwing is the 3O,h section of The
same act:
"Scc. 80 And be it further enacted
That the duties and fees to he collected by
virtue ofthis act shall be received in gold
and silver ONLY"
AT this time (Sept 1889 remarks the
Herald that rank Federalist Alexander
Hamilton, was Secretary Of the Treasury
The Sub Treasury, with the SPECIE
CLAUSE, originated with him and at the
end OF h'ty years, and having been aban.
d"ned by Washington, Jefferson, Madison.
Monroe ard Adams, denounced by Jackson
was revived by Martin Van Buren,. Sol
that Van Buren, walks in the footsteps, Of
that old Federalist Alexander Hamilton.
Chas. Free Press.
1t was by the votes Of the SourHrRn !
States that the Bank Of 1916 was carried
They gave majority of Is in its favor
which bore down all opposition, and ,rium.. \
phantly carried the measure. Had thew a
hot given their vote as they did, bu, merely d
stood aloof from the contest, the measure
would have besn lost: beyond hope. The
vote would, then have stood 50 against As IL
in favor of a Bank. II was. therefore . tc
southern measure, carried by the Republi- ID
;an Party. If Virginia, s. Carolina, or "
Ieorg'a, had been. disposed to defeat. il, il, ID
could have been easily effected. 1t is a Ii
emarkable fact. that while S Carolina gave |fe
even out Of eight votes in favor of The Bank W
the Land of Blue Lights. n &C
'hlch the HARTFORD Convention held its o.
aeet'ng' gave five cut Of seven against il.
low, then, can Henry Clay be .tigmatized Iu
federalist, for his vote on this occasion ba
ny more than John G. Calhoun who voted a
,'lh the seven from his State, in favor of se
'e bankg-We have this gentleman's own Wa
::ssr..en, Tor proof. that had it not been for III,
- snorts, "lhe Bank would not have been ~
Wing. ha
The Pc wa
Ae zorV.--Ws take the following ne,