Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1846-01-30


now perhaps eight millions Of specie. Thel
do noizhnk il safe 10 run lower. Tn,
government has perhaps three millions t
its cred.there. To remOvethafIn coin and
lock il up, would compel the hanks q
make such a contraction as could not bt
endured. Soon perhaps the gogernmen
has large payments 10 make. It's specie n
distUrsed and returns promptly to fIJ
banks. Again is receipts are larger than
Its payments. and three or FIVE millions are
again drawn from the hanks. All this aFi
tation would take place when no real
change had come oyer the money market,
Such useless mischief could not he CON
tinued. The system row operating per.
petuate sstaadiuess. Balances not wanted,
lie in th i1nk~ as depOsiles. If.oue man
draws out i is by hi chec<, which is pas
sed to the credit Of the holderon The books
Of the hank. Il is by these transfers on
bank iedgprs, THAT nine tenihs Of the pay
ruents are made. The actual money rs nos
tUuchedi ior every man pretersa credit on
haHk ledger to specie. The government
on this plan may hive one milton or f We
millions o. nothing at all 10 It's credit. II
It draws out its whole amoum deposited.
tits 0nty % pay it 10 various citizens, aud
this bping accomplished by transfers on
the iedgers, the monney markptis not agi-
tated. Put to change millions IN actual
coin, would make perpetual ag.alion.-
Under the old sEhtrpasUry biIl the effort
tocrcute payments in rhe coin in violation
OF the couveuierccRnd interest OF the peO-
pie, was abandoned atDHce.
The suhlerlugp Of getting checks endur-
So "Iagahle nsppCip,n was resortpd To,
though the checks were rU more payable in
'p'cle after the endorsement than 'piore.
Ea"k roles were also le,i,pd 'up, aud a
p ctencn madpot separating he S,ate from
ithr hanks, though in reality thplRoney vas
all in the IVA k, ard the actual union Of
the State wRh the hanks Wus not in the
! least aiStpd, and il never con he. The
government would not trust the banks
! % itCot ba X notes and locked thGm ut in
a great IRON room, Il farmer were to
! say he would not trust his mcigbhor. and to
carry his threat into execution should ga
| thcr together tnp notes of that Nc;phh0raud
! lock them up. there - notarmpT'N ho'knoWs
so little oI financial matters as not to see
t.rou h h'sdciuson SUrh man would
be rrpuFed either crazy or idiotjc, Yet the
same ,bing INA IL n,sso., far s,,,.o,s,, w ~,
slip.
Tbn leaders .oc 9. go, b,yo di.,,oorol
tina, the neonIp are rof yvitIi,o n have ,ho
ron,y ~ htrh ,bny avn, IN .o,,,,,,,, H.,
sitad IN mo ey,,o ,l,roe whore ,hor ,,,, al
their NANCY os ina;ridu..Ie rro,, nI,,.an
pu,s his n,oncv in tba b,,,L Lac,,-.,, :, !.
l,rrst ,horo ,T.J cor ho n,o., II. 49,,
rrot,,iry ronrrolI.I Va, ,i,o ,,r,,..,,,.,,, -
ih,se cninioos makce an o,,,,si,'oT. ~ ,,,i,,,,
| 4 unouipov. , ,lirn,o,i,,, IL ~, ,b;s i,,;, ;,
ror,,i,o Nn,l,,,,,, co,,ll :, !.a,, ,Il.,,.I
] Tha urani,pooe nr5c,ira.,,r ,,,o,ci,i,o,,s no
.jrg each orp for himself i ,be hes, po-si-
bic eHprossfon Of opin}on and ouide 70
practical utility forthe government
What greater lonserse can any man he
guilty OF, than 10 say thu. money ina hank
is not in the treasury! The merchant al
ways cOruts his halk dtpcsilca as cash on
hand, and more RvaiIFrIo, r,oro practiCTl
in he treeslmy. han if il were locked np
in coin under his own fcv. Whatnn han
pens to receive in coin, he dppGsilrs in
bank, fer that Is the way 10 nuke ltpvafa-
he, II ,hc government shoard' nave occa-
sion tn trnnsfrr cold from New York To-
Philadelphia, wmid il, hc in the treasury
while on the Jersey Rails oud, or noA if
instnad Of transferring the specie, it snohId
exchange with some citizen whohold coin
in phi'adrInhia which he phu,pTy., y Nv
YoSk. would tncumhcg, lw thfn,ga dr5R,
I've out OF tho,uogUry dr WuuId such an
exchange be du offence against the rohti-
cai vcanaM9 0i the mrctccnlh ceutlaty?
lhw mach more viii a room, in 'WasDing-
ton hp really and tray treasury, Icran-e
Congress vote IL "a. TIE moaey is in the
treasury Of it's ownor, when ii is in the
most safe and convempnl pMrp'tofAs,Rxe
The notion that The Suh~Trpasny will
render the pubic money more safe, is's very
strange one 'nhr money on the plan nro
A., t..l.t.....