Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1846-05-07
UHE NEW FISCAL. SYSTEM.

There various devices in ptrpa lion 10 moderate
The iorcr IT the blow which is known the Sub Treas
ury must inhct upon the cOanfy when becomes ape
Ta,ive. BY Withholding the blow altogether the rene
dial measures indeed would be required but II seems
that the Administrations considers itself required by lis
<blie cations 10 q greater than st the Baltimore Cons
Teniion, To strike the blow.
First We are To have the Sehaie's amendment pos.
runlng the action oi The specie clause until January
then We find warehousing bill in contemplation nexi
II is Suggested that the Government should aJopt some
plan oge rid oi the surplus previous to The es
Establishment OF the lndependeni Treasury bill" in which
case, e endorsement OF the most restrictive PROV sions
a. that aci, says HE aon, woold not be tel, the
slightest d.gree-not Indeed by the admission If bank
n"es IN any degree Of form, bui by the Of "Spees
Uarrants." IN oth.f wdrds, Treasury bills" The
use OF thes. is pupied oot by writer IN he official pa
per, thus:
1ofk may be Issued 10 the clerks here IN pa n.n oi
their saarrs These will find their way inlo The hands
ID The traders here @ho buy goods at Baltimore Phi.
sdephia and New furk. The merchants ~ those ej
ses viii rtcive lhrn payment tor purchasers from
them and with them Psy Their duties .o the custom hou
AT all events, there i'll be such caring ard re
earring Of specie The New ioik Chamber oil Com.
insfce igporantly Imsgin-s."
Now the New York Chamber u Commerce took /,
for granted that the Ssblre oil was really de-
sgntd toto what the language Of the bill declares i,
stall be; that was 10 establish fiscal system for The
Use oi We 6ovei:men', by which nothing should be 10
re'ved OF paid out as money. hui gold and silver coin
Such system Is clearly imprscteabe; aud when il is
siown ~ be 30 beyond all CONTROVERSY liz
shiii ie ground aud say tbs, The system
s"neihng else. Undoubtedly il does But It's pr,iec
aos who know What u designed for are not vel 50
communicative as 10 tell oil thai II con,empa,es.
Dfas on The Sub Treasury at New York MAY be !.
sued TO the cefss at Washington in pa ment %, b.,,
ssias'es-so we are told. Why no, make the ,lu,,ra
,,"n As broad ~ the principle Why no say At ono,
that all the disbursements vi tho Government whe,he,
~ Of salaries VI Tor the support o the army aud
navy ior contracts OF every h,nd for the expenses
Iogfess, 'of appropriations IN evtry shape MAI b,
made 10 drafts upon The various SUB Treasures 4
These fIrsssury drafis) will find their way into IN,
hahds OF traders here (ciiy Of Wsshoaion) who hu,
g"ds n Baltimore. Philadelphia and New York IN,
merchants IN huse cities III receive them In n,
iof purchases from them aud with them nav Their
10 The castnm houses" There Is great deal ol cir
"cuisoo employed here 10 announce very simple pro
rss HE Treasury bills for purposes Of general ccu
sal'on and remittance. Mil be lar preferable as cur.n
cy. To The nolts VI cal banks No doub, the
~ouid like very well to GET them for payments a, ih
custom hoose. Bu, bose bills, sccoun, of their su
fer,pf convenience and wei. assured value will be al
premium The Importers then, will hnd II to their in
srfrs' TO pay Their custom house dues IN specie whrcl
Vary Will obtain by converting their current funds MI,
esnk ooses into specie How teg the Treasury n, NO
Nh fraan se've PAT mus, depend upon the amour, il
circulation aud ohef circumstances not necessary 10
Sppci0ed hefe.
u - very true, therefore, that the alton Of IN
sscse clause admitting ~ ito speslun tie use Of specis
~srsbis, of Treasury bills, will lessen the iumeda,
tsee VI the shock consequent spun the introduction
te Dub Treasury II 10 also true that the arehousin
~rs'em, ~ which duties be paid, no, upon Who'll
~afsrs 81 "nos sst upon imported eoods ony a. the
are 1rswn Sut irvn The public stores for Sar will have
ss~fsti"g effect TO the same end and IT, as the 1T
"'"" ssssests. The Government wuuId get nd Of i
ssPos ia"ds eeefe the systen goes into operation
maj 81 ~"o'o draw no d~poses from The Banks IN sp,
r': the f"sredsefo" sfie hew system would cause o
s'eai rev s's'c" u ies Blu, The results Of i,s oper
slu@ IA The end would be the lees certain b+e.
ad ,ms'ed's'e Instead Of sevenng the juyuisr Of II
Banking systen ~ blow il wond bleed il 10 dea
~ de''eaitsy opening many veins; The victim mig o
ksOw that the hand If death upon it until warm
y seeing ahe iishn burn blae. Bah. Amer
hsoKTAsr TEsTMorv As TO OREooF-At d
81. 1enges dnnrs. fen days since, the British Gu
sui, resident IN New York, A. t3srcsy, Eco terminal
." ao'e speech with the following remarkable sta,
NM. % 70 the value u Oregon:
MI President The ,hosghi which is deep 81
ven as nPpefmnsi IN my mind which pesysdes !, e
sweiy ~ oil monens.-vbri. am SURE occup,es va
m'na - well ~ m'ne,-must have veo,,-ihe ds
clouds ~e have % long seen rising from The West
-" ] how meet you tof the last lime beare they are
borsi IN thunder snd lightning. and to scatter us7 A
the hands u bsoiher be raised against brother. h
fiise u CANT Are the land and The sea 10 he siam
~Hta Mod s.~d BY kndfed2 God forbid! Our las, ,
tan's from England gave " again the of repeated
suiaace. tbs, sis Brush Government en,erisn M
sar"ess desise to preserve PEACE The meeting he
1ou eseNsnl. af uasnv Yesosc,,h,. r.,..,.a - .