Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1846-04-28

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The SUB Treasury An exchange
says, speaking Of this measure, that .'the
New York Chamber OF Commerce, compo-
sed OF the leading merchants Of New York,
of both political parties, have with entire
nnanimi'y. pronounced against the meas
ure." We have no doubi, but such is The
fact. We apprehend this unanimi,y a
mong all classes OF men, and in every man
whose wealth has sprung in a grea, measure
from that system of plumber which banks af
ford, and whose existence in a great degree
depends npon the continued existence OF
banks. The time has passed by in this
country, when Government becomes the
protective power 10 any class Of men at the
expense of others. Government has so
long been administered for the benefit of
wealth against poverty, that the former feels
sort of vested right in that condition of
things, and we can calculate with conf
dence upon manifestos from the Chamber
Of Commerce, whenever the Government
shows disposition 10 cease its exclusive
protection. The Sub Treasury proposes
an entire divorce Of Government from banks.
II designs that the money of the people
shall no longer be used as capital by the
spectators and traders of the country, but
kept by the agents Of the people, and APP
piled solely to its legitimate purposes. In
this divorce bank paper is no longer to be
taken for government dues. This is right
and however The Chamber Of Commerce
may fail TO see it, the people will properly
estimate it. What right has the Govern
ment which is the agent of the people, to
take that in payment of dues which at best
is Of doubtful value. There is not in our
opinion Bank note in the country which
in any and all contingencies can be depen-
ded on for its promised value. Shall the
substance of the people be jeoparded then
oy trusting that which may be worthless
We say the Government has no ght to do
it. All the dues Of the country should be
demanded in money which has an intrinsic
worth. and not The worthless trash, which
any man may choose 10 stamp his name on
and call money. This separation OF Gov.
eminent from Banks will be the most power
ful blow at that system of swindling which
it has ever experienced, and we predict the
rapid downfall Of the whole system oflegals
Ised Banking as the resultin great degree
of this measure. We see its main benefi.
cial result here. 1t is an assertion Of the
principle that the Government of the whole
people has no right in any manner TO lend
It's aid to this bolsiering UP Of particular
classes. The people-the masses, are
awaking to the true position of things and
asserting their power. 1t will be followed
by state governments until Banking is left
where it belongs, ,oindividuals upon real SUBJ
stance. credit having nothing TO do with it.
How is it with us2 We apprehend the peo-
pie of Wisconsin are united upon the prn.
ciple that The government shall have moth
ing 10 do with these chartered monopolies.
They feel and know that such things are no
part of the business of government IF in
dustry is ever to have its reward, and worth
TO occupy its true place in society, these
modes of fostering and protecting idleness
and vice must be sednlousIy opposed.