New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-08-03
~sRE OUTSIDE oF To-pAY,s PAPER.-@
THE sub-Trensury Passed!


Hurrah for the second, third fourth fifth or fitch
Declaration of independence I'VE forget the num-
Der: the Senate passed the sub-Treasury bill BY a
strict party vote-25 20 "a. Now says u verdant
and no, eaded Loco. F oco we have got the Banks
on the hip Down with the Rag Down
with Rag -Money, for ever and everl'
Softly, my enthusiastic friend; you have got the
Rag System down just as the General Deluge dried
up al the streams and lakes the face the earth
The Government has resolved 10 discountenance
other peoples Rag Money, and manufacture rearns
ofsuch itself! Congress has passed bill directing
TINT Bank Notes, based upon and payable in Gold
and Silver shall not, after little while be received
or disbursed by the National Treasury and in the
same breath opened the food gates for the emission
of millions after millions Of Treasury Shnplasters,
payable on demand in nothing whatever and oliy
redeemable at the pleasure of the Government itseh
receivable in payments to 1t The Go'efihieN'
Is about to cvnce its horror fShnpiasters o cover
ing itsefall over with them-eatlng drinking ana
sleeping upon them. Such is the consistency Oh
that sort OF Loco. Focoism which now hounshes IN
the high places Of the land
Hard Money Sub Treasury-that IS Govern
1nent receiving, keeping and disbursing Coin only
in all its pecuniary transactons-is very serious
affair. but it is a straightforward. upright down
right cou.rivance--every body can understand it
If wc were hostile TO all Paper Money we should
be in favor of this But, sincerely believing that
Paper Money Issues have done good and are capa-
BILE of doing still good though certainly liable
10 abuse. very earnestly opposed to Sub
Treasury. We respect those who honestly differ
f,oyo m nrpI Inn, hcl
should be fairly tried for we believe fair trial
would settle the controversy as think it should
be settled. lit should settle it the other way, BY
proving the superiority OF an exclusively Hard
Currency, we should rejoice ut that. too; for the
truth is the best thing for and for every body
Let some scheme be fairly tried so that something
shall be settled. But this plan oil dcnounclng
Banks and creating Government Bank-stopplng
the receipt of uncxceptionable specie'paying Bank
Notes mt the Custom Houses. Land md Post ON.
ces and at the time vomiting forth Rag
issues of the most unsubstantial and vcious
sort--evidences Of inability OF the issuer-s
preposterous, n,onstrous 1t is as though some des
pera,c notorious bankrupt gambler should nd
vertise the public that he could not venture
TO take the notes of John Jacob Astor the Bank
of New York, and had concluded TO accommodate |
the public by issuing some of his own payable at
his convenience, instead 1t cannot be that an in.
telligent People will approve of this.
We wish those who hold tho views opposite TO |
ours On the great fundamental questions of practi-
cal Government could for once elect functionarcs
who would give their principles fair play. Either |
the views we have ever advocated arc sound or
absolute Free Trade. with Direct Taxation and the |
ID rn;p 81,
policy There is no middle ground on which mn |
honest man stand an instant. We stand on
proper ground we believe the great mass
of opponents wish to stand on theirs. But dem
agogues without faith in their prnciplcs-with
faith only in the potency of their votcs-stand be-
tween them md the measures demanded by their
principles and prevent any consideration OF those
measures They shake their heads and muttcr,
These distractions will never answer-too ultra
'altogether-they IL ruin the party, and SO the
multitude behind them are kept for ever wrangling
through controversies in which nothing s clearly at
stake and winning victories in which nothing but
victory is gained That Is nothing is gained by
the rank and file: the leaders gain the Offices
which is all they wanted
Mr. Clay always insisted, and in his great speech
on the Sub.Treasury demonstrated, that the end
aimed at by the contrivers of the Sub Treasury
Government Bank of which they We're to be the
Directors Officers aud beneGcares This we are
now to have in q shape that Law hmsellmight have
enyied Sir Robert Walker is President, and what
sort OF financier he is the records of judgments in
Mississippi Tennessee Louisiana and the District of
Columbia bear witness. We believe he is bank
rupt for not less than $500 O00-or was at least
when appointed Secretary of the Treasury Mr.
Polk and his Cabinet are Directors othis Bank the
Mexican War is the suagc Of its limo of discount
popular creduty its capital Ii Fifty Millions shall
be issued, this will naturally cause general ula.
ton of the Currency aud il ever the Government
shall undertake TO pay up fund this enormous
debt, q general contraction is equally certain The
Banks, as usual, will be cursed alike for the infa
ton and contraction some OF them will be broken
by the latter, and then yell OF Down with the
Banks will be renewed with greater intensity than
ever. We can only foresec and dcplore those who
rule will have their own way. as the People have
determined. AL we ask is that the responsibility
of the results shall be brought home to the proper
quarter
STEAMBOAT ACCIDENT ON TIN ST. LAWRENCE
In another column will be found letter from
Rev JoHs = e. AHRoTT of This CRY containing q