Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1846-05-14
THU2SDlY, MY IL, 1916.
THE SUB TREASURY.

that the banks had suspended payment and that there
was safe depository of the Il urged
spe, life for The ills under which The currency La
buTing-thefe Mere paatiyes suggesled-the scheme
was presented in all its unirammeed power, whether for
good or evil There was something 10 command respect
in the buness with which the proposition stated aud
The issue jned before the people. One couli not but
that lis friends sincere in their belief OF lis prac
Inability and flcacy. Tie question was lany and
fully discussed before the people, and the result
the rejection of the scheme by tremendous major
iy.
/, the resuycitapn Of the scheme in obedience TO tle
behes,s If The Baltimore Convention there is nothing IN
the conduct Of he party in t" command respect,
inspire belief that those, who most elanorous
lis favor are, at heart DESTROYS the passage Of tie bill
They know that The people do not want lt-they know
,ha, the safe keeping and facility OF ransIence Of the
public funds will not be lnereased-and that The business
relations of the country viii be greatly disturbed by is
establishment Considerations Of public interest are but
secondary however ubedence to thai mysterious but
tremendous power which is lodged in the cabasc wues
Baltimore Conventlon.' The fiat has gone forth aud
one might as have expected the Nalluna Assembly
Of revola anafy France 10 dsobey he orders of the ia
Goblin Club of Paris, the present Congress To
to legislae, huwever much the gud o the country might
require it, IN opposition what decreed hy the mob
of respectable eeutemeo wha composed tie gathering
in Banote, in May 1874. by which MI Polk nom.
mated for the Presidency. in preference 10 Mr. Van Blu.
r-n Who Tell in S4c, in qne,ee Vi his adherence Ia
this very measure
Tae Sub Treasury then by the operation Of sort of
faialism, pass; hui some II it's supporterswe will
not say irenis--who not caluus 10 the suierings
which its operation will psodure have devised ,X?ed,
break the force Of is action. The most notable
of these HE multiplication of Minis and the Ware
housing system. Some years ago, most unnecessarily
and indeed inurousy 10 the public Interests, two add
,ional minis were established. The old mnt in Phlla
delphia has always ten able to coin all The gold and
silver eqniredsa that the establishments in North Ca
rons and New Orleans were eoiirey supelfuuus. Bat
they add handsomely the anount ol patronage at the
disposal of he Executive AID hope be entertain
ed of their being abolished.
Until we had the admission Of Mr. LEWIS. the Chair
man Of the Committee Of Finance, in the Senate, OF
such being the intention of the parry power we treat
ed the suggestion Of the establishment oil iva minis
as an idle rumor Blu, i, 10 well known. that the
Sub Treasury is 90 into effect Simultaneously with a
min, in New York and ia Charleston. These cx-
periments expensive, ouy 10 The Industry aud
capital OF the country, but the Government. 4 ese
two additional. useless minis will cost, first and last,
not less than halt million Nur do We see why there
should no, be sill Of them rquired. Que al n
Louis has already been suggested, aud wherefore should
Boston be neglected? In aci if they be necessary 10
prevent the Injurious action Of the Sub Treasury ought
mt a mint be appendage TO every custom house 7
..Wi,hout a mint in New York." says the Democratic
Review The operation o Tie specie feature OF the law Is
practically Impossible" We heard nothing of the ne
cessity Of minis under Nh VAN BuREN's administration,
give operation TO the specie clause. Yet here is tho
able organ of the party. which ten supported the same
scheme zeaonsly, coniessng 10 be ltnpossi
BILE Of execution unless hr way is prepared by another
measured Is mt this in fact, Lodging the abSur-
diiy Of The while scheme?
The establishment Of minis is insisted upon, as
necessary to deprive the Sub Treasury Of It's injurious
secisan indeed TO carry ii at all into effect. But Il
is curious To perceive the very opposite views of The
manner in which they to operate thus healngy and
benctically. The Democratic Review shall speak for
itself. If the Governmen, demand specie for its dues
ii be drawn from the banks in the slap OF foreign
coins Of all descriptions. This money. the legal rates
may satisfy the demands Of TIE Government; but When
the Government attempts to pay it into circulation the
people will take ii reluctantly. Spanish Plstolts Por,
tusuese Donbloons, indian Mohurs and English Suver>
cigns cuns it'll the aud valre ei which they
for the part unacquanled. If, however, the
treasury vaul, is connected with branch mint, Amer
can aud sound coins may be poured out and all elias
ses Of people will eagerly receive them"
TIE fear of the Democratle Review, it will be seen
is that the people will be reluctant to take gold from the
Government if in foreign coin. The \. York Evening
Post advocates the establishment of mint upon widely
different grounds. The merchan, is to ue his gold
silver 10 the Sub Treasury. but to carry The mini
and get certificate of depusite which will be received
in payment Of dn,ies and be issued by the Government
to It's creditors. 1t will become thus means of ma.
king remittance and will command a small premium in
the market aud the certificate be used many times
in the payment Of the public dues. We Should like tc
be enlightened as 10 the superiority Of Ills certificate
over certified check On specie TaYing bank, bill
OF the same. The olect Of the Sub Treasury scheme
was formerly supposed be, the establishment Of spe
Gle currency far at least the Government con,
cerned-fo TO the people they left 10 take care
Of ,hemselves-bu this plan of the Post seems only I,
substitute one kind Of paper for another. Not dollar
more of specie will he circulation thar at present
10 spite of the operation of one more additional minis
The Government has now its money safely kept, and
transferred. from point To point, its wants require
and ali this without rosting it cent. Que woulc
think this is state of things which ought not 10 be dis
turbed. NoI you'd il be, ii the public nyenience III.
Interests Of trade, the lessons Of experience were con
nltoI R1tt ,xan