New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-08-08
The sub.Treasury

Is nj length the law Of the land, and takes eject
on the LIST Of January next. That IS the Government
begins to collect in Specie that day, but it does
not ser TO work 70 pay out in coin til the lst OF
April following When the bill was receiving its
finishing touch in the House Gen Mckay of y. C.
moved TO postpone the exac,ioi of Specie also 70
the lst of April, bat the House said No-lol to -
So the Treasury begins 70 colec: Specie on the Isl
OF January and 70 pay i, out the Isl 0: Apri i0l
lowing. The act takes effect il TIE shape II wore
when we published i. early this week
We presume it is understood that Gen Acha'
acted on tie cue OF M Secretary Walker IN e"'
deavoring TO postpone the day OF specie
The measure, of Loco-Foco:srn are away ~
good that their advocates prefer 10 administer mem
IN uorooonethic doses and at long intervals throw
IN, ,bs,, sc far into the future as possible they
,orld he 100 ravshingly delightful taken readily
.n5 all n, once In this case, we believe the Exec
r,;ve and majority OF Congress would have been
clad TO shuttle by this Session altogether but Sao
Treasury was fairly recorded among the principles
of the last Baltimore Convention and could not be
lodged The detection from $40 40 was 81 that
could be safely risked at one Session.
and yet, we find the Wings assailed in that con-
sstent Hard Money concern, the Erenang Post, tor
not voting in body 70 stave off the Specie Exact
ion It's Washington Correspondent says:
"Mr Mckay, today proposed that the fret OF Aprl!
should be liked upon for the latter bill. II was voted
down by majority of ,wenry.four there being seventy
seven for and hundred and one against II Every
Wing or almost every one, voted against the amend
ucn If that party had believed that the Sub Treasury
will produce the trouble they lege. what apology VIII
they render the people for .her vote Or old they
so because they did not believe their own pred;c
hons Let the Merchants Of New-York as well as the
Banks remember this and II they have 70 complain
Of il let them hold is authors responsible.
No men are abused by the Iar!f party more tnan
Mr. Mckay OF the House Mr Lewis OF the senate, and
Mr. Walker Secretary Of the Treasury Al these gen.
,lenen have from the fret been DESTROYS OF carrying out
the SubTressury produce no sensible pressure IN
the money market AL OF them favorable TO nav
ing the day Of april the day for the act 10 go INTO
operation large majority Of the Democrats voted for
this time showing that they wished 10 ooviate even the
fears OF thoe who feared the consequences OF the trans
fer OF the public money-even they none
/ Themselves. Mr.. Mckay has taken the responsibility
from M shoulders least and deserves 10 ne record
ed that he wished by this act 10 prevent any panic or
plea for panic. The CONSISTENCY OF Inc wings "iust
not be forgotten
Is not this unreasonable? The Wings had
nothing to do with framing this bill; it is the
ure Of Polk, Walker, Lewis Mckay and company,
and they gave it just the shape that suited them.
1t had passed the House b. clear party vote /;
then the Senate with amendments; and now came
/ back to the House FOR concurrence in those amend
ments Here at the eleventh hour a motion is
made TO postpone its vitality for three months
longer Meantime the New Tariff is TO take effect
and our opponents have all along assured US that
the Sub. Treasury would prove more stringent
Protection to exposed interests than am posi-
bic Tariff. Day after day have we been schooled
for our inability to the matter in this light Yet
il does seem to US that the Sub Treasury is calcu-
lated 20 afford some check on Importations and we
see no reason why-since we must endure both
they should not take effect together. Yet here are
the protested friends of both berating the Wings
for not coming forward to stave off the Sub Treasu-
~, which we are told ID 10 afford such complete
Protection TO Home Industry The majority framed
their own bill. and had ample power to amend 1t
and pass il as they pleased, Yet they scold the
Wings for not rallying to postpone the operation
OF their great Currency Reform The Banks are
not to be tusted-,dat is the assumption on which
the Sub.Treasury is based-yet the Wings are
culled TO vote to trust them three months longer.
after official notice OF their untrustworthiness has
been givenl VIVA, can these men mean
That tue Sub. Treasury with Specie Exaction.
countnes recountings, vaults and safes, Treas
+ urers. Clerks, &c. &c. is all wrong-very wrong
disasuously wrons-we most surely believe But
the People have determined 10 Try it, and we bow
to their decision Tia; issue clearly. made by
the Baltimore Convention while the overthrow OF
the Protective Policy was not, Specie Exactlon is
TO be tried and we care not how soon. that it
be fairly tried II it work well, we shall confess
our mistake and insist on its continuance If it
work badly, as we think it must, the People will
demand its repeal. But we apprehend the men in
authority do not mean to let it work at all. They
mean 10 jockey and shuttle with Treasury Notes,
Drafts, and other Shinpisster devices, until they
can manage charge the evils resulting from their
policy upon the Banks or something else than the
real source OF the mischief. They shall not do this
uneSposcd