Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1845-08-04
THE SIJB-TREASURY.

Notwithstanding the rejection with which that
odious scheme--the Snb-Treasury-.ha met,
thrice over yet, we the present Administra-
ton determined to force it on the people. How
the Orgdnist a, Washington will sing praises to
scheme which he has, heretofore condemned,
we arc curious to see but from the following in
dication we rather think de is tuning his pipes for
a regular blast in its favor. Hear him:
Among the resolutions adopted by the Baltimore Con
in favor Of the independent treasury
THESE resolutions have been regarded by the Prcs
dent as indicating the policy by which his administration
should be governed The independent treasury was
tanned by the of the President and the Secretary
,he Treasury, aud further experience has only confirmed
the then taken by both. The specie policy will be
sustained in all its vgo the coinage will he increased the
foreign gold coin which does circulate will be
cd rapidly possible into the hall aud quarter eagle;
and oil other proper will be used (ncuding the
commendaon Of the Independent teasuryJ to secure TO
the people abundant supply OF the constitutional
cy."
After the repeated failures Of the odous and
plundering Sub.Treasury system, to work any
good at ell for the country, one might suppose
that there could be no one found willing to brook
public opinion, by introducing that subject again.
But the views Of the Baltimore American, pub
lshed below, may throw some light the work.
ings Of this "Republican Administration"
Mr.. Polk and his advisers have something else
in view besides the establishment of the sub
Treasury.
After quoting the paragraph, which we have
copied above from the Union, the American thus
speaks
"Another attempt at the Sub. Treasury la.very well;
the Union is frunk and explicit. Are to hnv. a
Bankrupt Law for corporations also' Mr.. Van Buren,
who looked farther ahead in this matter than any other
man Of his party, was very particular about that.
Taking the Sub Treasury a system, final and concu.
sive In ITSELF OF the absurd devices that
deluded demsgogue ridden people. As inalOry step
something else IL presents different aspect. With
bankrupt law for corporations requiring every hank, on
faiure pay specie, TO be put liquidation, the whole
banking system Of the country could be swept AWAY
the agency Of the SubTeasuy action aided by the pow.
Of the Government the disposal Of the public de
postes Upon the ruins Of the sySem thus oyerthrown
Of and the clause Of the Constitution for
bidding the States to emit bills Of credit could be strictly
applied.
Mr. Van Buren's term Of four years almost entirely
taken up in efforts to get the SubTreasury bill through
Congress II he had succeeded 1887 when he first pro.
poeed H. there would have been time enough perhaps Tor
bringing lie action bear efficiently the shrowd states.
OF the Safety Fund System probably designed.
lie failed until Of avail and IN that failure
involved the loss VI the Presidency the election Of
1870. The Sub.Treasury lay unwieldy form without
the spirit Of life IN it-useless, impractcSblo.
What Mr.. PoLE designs by again urging this system W
de know, unless because 10 accordance with ono
Of the resolution, Of the Egyptian Hall Convenon-1nd Tor
oberreason. Ills party fidelity greater Than his
msnsbp take IT, The DEGREES Of clubs and
and "domocstic ssociaons be heTscs Of his Do
hcs conduct lie works well the traces the Dnrncss
gals him he bears patiently An excellent "demOcr1uo
President Most exemplary"