Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1846-04-17

These resolutions gave rise TO a rrotracted
debate, but were finally passed, by large
majority. Thus, we suppose. we will have
some precious developments in few days
This incidental discussion has. given some
breathing time in the Oregon debate.
THE IyDEPgNDENT TKEAsURY.
The bill which has recently passed the
House'of Representatives for the better pro-
viding for the safs-keeping of the public mo-
MES Of the United States, has been bitterly |
denounced by the Federal papers: This we
take, however, as good sign that the meas
ure is ono which will meet the views Of the
great mass of the people of the country. For
what measure has the Democratic party ever
proposed, whether really and intrinsicalIy
right or not, which has not met with the most
nnmti!gated opposition at the hands of the
federal press! We, for one, take:it that the
United States-ra,her the people of the Uni
ted States-acting through their representa-
lives in Congress, are amply capable Of pro-
vding a proper and suitable mode of collec-
ting, keeping, and disbursiag the public funds.
without depending upon the aid ofBanks. III
we not able 10 provide such'a means, and
| If we must acknowledge dependence: upon
banking institutions, then we might as we'll
admit at once that we are incapable Of self
government. But this we cannot do yet
while. AS this is measure Of great impor-
lance, and ofe about which every one wishes
to know something, we transfer from the
Richmond Enquirer of the 9Th inst. the fol
! lowing femafks: 49,
I We wonld be fai,hless to: our duty, were
we not to express our cordial approval of the
! prompt and decisive manner in which the
! House Of Representatives have passed the
hill providing for. the establishment of Com
stIln'ional Treasury. Its passage has served
to arouse some of the dropping hopes # the
Wings, that they may get up another ''panic,"
and PROSTATE the Republican party. They
already dcnounce ihe bill, which will certain
~ pass the Senate and again become the law
of the land. as fruitful of mischief and fatal to
the ascendancy of our party. The appeal to
the scenes Of 1910 as conclusive Of the fact
that the Snh-Treasnry defeated Mr.. Van Blu
rem; forgetting, at the same time, that it was
the numerous misrepresentation of Mr.. Van
Buren's views, the clamors about the "stand-
ling army" &C., &C., that blinded the popular
mind and gave to the Wings temporary lri-
, umph. With injudicions haste. the Wings
repealed the Subtle rsury bill. before it had
/ been fairly tried. No one could believe that
popular sentiment demanded the sacrifice OF
the measure, to be followed by the establish
ment of Government Bank, which all parties
now concede to be an ''obsoete idea.'' In
f. their haste to undo every thing which the Re.
! publican party had commenced. however con.
J sonant with the provisions of the Constitution
5 or beneficial in its operation, they struck dowr
this measure, though it had been in existence
Y for very brief space, and no one had reasons
to believe that it would act otherwise than fa
voTab|y. Butit was a Democratic measure
and, therefore, it must be wrong and ough
to be sacrificed. 49,.
S At the next election the st.sober SECOND
!. thought" Of the peop pie hao free and un 'istur
bed play; no issue was more vigorously pres
= sed than that of Constitutional Treasury o
d a NatianaI Bank. The result proved that NJ
measure was more clearly demanded by pop
= ular sentiment, than the re establishment 0
. the Constitutional Treasury-dnd still tn
Wings tell us now, that the measure is in di
T. rect violation of the PUBLIC will and viii lea,
d TO second overthrow Of the Republican par
l. Ity. On the contrary; had the Democrats il
Congress refused to sanction the measure, the
would have exhibited violation of popula
l. wishes MAT would have called for the ster
rebukes of iheI. constituents.
r. For onr lives. we cannot see one good rea
IS son why this simple system Of keeping tn
d public money should be objected to. Th
IF losses which the Government has susiaine
$ by many of the Banks, selected as the depos
I, itores of the public funds. furnish proof tina
t the public money should be managed by tn
j. Government itself, instead of being surrender
IT ed to the Banks. to be employed for Inc purpos
e of speculation. The increased supply Of spe
j. Gle. which will be made to circulate throug
IS the operation of the only constitutional syster
9 that can be devised. will. of itself. give solid
T. ty.to the Banks, and fix the circulation of tn
d country on a stable basis. We shall heal G
IF no more wild, 'extravagant and ruinous spec
Of ulailons, demoralizing The community, an
lie disturbing the regular course of trade. Wit
D. proper modification of The Tariff, and tn
l. beneficial operation of the Snn-Treasury, w
5, predict for The United States steady and pei
& manent career of prosperity. All that is ne
cessary. Is for th. Government to keep il
L. hands from the business of States and individ
D., uals. The people can manage their own al
it fairs better without, Than with the aid. of tn
h Government: ALMOST universally, when tn
Government. intesferes, 90 laI fIom beae6ain
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