Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1846-04-16
Nliddlebury, April 2, is4G.
Snb-Treasury.

The Bill providing for the Of the subTeasury,
which passed the House Representatives week before by
majority Of ST. has been reported the Senate will doubt
less that body without any material alteration. The Bill ia
all its essential points comedies with ponod and
quvocay eondemened in 1910 by the election Of Cen Harrison
to the Presidency This Of the questions issue
between the two parties and probably had DO with The
decision Of that contest than question discussed that
The people CONDEMNED IT, Why it is again bfough, for.
ward is question must leave for the democracy"
There be preenco that it Necessary for the safe
Keeping Of the public moneys complaint has been
be made tina, the money belonging has been in
unsafe condition since the old subeasur repealed
that dollar has been lost by Of the Banks. The Of
sufficient security then argument favor Of is
ment But would greater safety be attained by the subreasu
~ System
The government money the different deposito-
docs vary much from 100000 and of this the
Secretary of the Treasury holds United States stocks and
m ior about 100000 The remaining g3p0OOO rests upon
the security Of the Banks which is deposited The amount
deposited in the Banks New York City about S3,
10000 and the stocks held by Government amount TO &c.,
00O-eavng 600 600 which the Banks themselves
security These Banks have capital Of 100000 all
Of which is holden security for Sl0OO Now would this
81 100000 Of public money be made by placing in
the hands of Receiver General under bonds Of $1,000 only
than it is now with security of Si5OO0O0o Really, this
would be very plain aud confess that We have
been unable appreciate the logic by which the Loeoocos
prove that g0O00 better security than Sl5OO00O for the
same sum They may right but their reasoning has cd to
convince us Of II be urged in favor Of this Bill
that il will facilitate exchanges between the different parts ofhe
couutry neither do its advocates claim for it this effect They
practically sayproyido well for the goyernmen-dreet is
dues be paid gold and silver only and let the peoPehe
business communicable Of themselves" We shall not
op to examine the of this doctrine the present
time tits merely remaking that taught
to believe that instituted for the good Of the
people, and not Tor its own sake
The 18th Of the Bill reads follows AHd be il fur
her enacted That, from and aner the threth day June
IL lln.Nr a IsluFt.a
es sales of public lands debts Of money acoIung
omng the United States, and also all due fol
postapes or Otherwise General Post Office Department
shall be paid in gold or siipsr coin only.
The effect carried be bring about anothe
revolution money market witnessed soon ate
the old Sub Treasury went into operation Bank
good gold aud silver long government recognizes then
money hut let refuse them 10 payment of IL
dues and they dscreded at Prudent men will no
receive paper of their dues unless they make
OF it again payment their debts Paper money will doubt
less be used from the necessity Of the but The
demand will be for gold and silver.
Some Of the Lococo papers that have always advocated M
measure casting about them for Of eyadn
its practical effects The Evening Post has the following
II is contemplated 10 establish branch OF the UniteL
States Mint here and at 81 Louis II is generally admitted
that this ought be done the proper time for doing il il
when the independent treasury hill passes. II is com
mon practice lodge quantities Of the precious metals witt
the mint Not dollar of the money placed in its charge
has been lost 1t the safest Of all places of special depo
sit Let the of coin which would be necessary
use the custom house be deposited In the branch min
here and the Certificates Of the mint TAKEN the transfer o
which would transfer the money to the custom house
The public creditor any body else II branch OF The
mint were established here those who talk Of the nconve
nence OF carts and wheelbarows trundng specie sbou
the cly would be deprived Of their faVoFite Topic
The Post here hi upon nice Pan for turning the Sub
Treasury into nothing less than another Monst
Bakn They been aborng for years and have last ar
we'd at tho conclusion that paper money be had in
form or other wont do to call by the old Banl
note sounds badly the refined of the DemOeraey-s
they are to be chrstenod certificates We should like to be in
formed by some nanoiers what Bank is bu
a certificate representation Of value