The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1846-02-06
From tie Richmond Wig.
THE SUB TREAS IRY.

From Tie Richmond Wig
! THE SUB TREASURY.
This scheme, winch is ngain urged as
party measure, is likely to be pressed with
some degree # eanestncss during The pre-
sen, session Of Congress, and viii no doubt
be consummaIed. Its former working was
not very satisfactory to tho commercial
part Of the Community in which its prnci-
pal operations were carried on, and in truth
Il was mere mockcty, as Ear as a dirorce
from the Banks was conc, rned. 1t was
| found TO be lmpractlcabic in It's execution,
requiring, as it must whole armies Of men
to transmit specie from post 10 post, and
was not literally carried out. The irens.
actions with The Custom Houses, were ar.
ranged by what ,ero called specie checks,
and the agency Of the Bauks was Just Us
necessary as ever.
Tbs the reader nay see hatsth1ugh,
OF the easure by prominent friend Of
tho Administration, We subjoiu a strong
article from The Kew York Sun. The
Editor Of that paper LES had good opror.
unltIcs Of observing the cnuro failure Of
tie system during the short period it was
il operation in 1910. The ridiculous ma.
tu'e Of the scheme Is well described la he
simple statement that, in a city like New
York, It IS nothing bu, hiring an opu!en
citizen at yftiecn dollars doy TO Hrrr
THE KEYS" Of one Of the mammoth vaults
or safes.
We ask attention to this article, Ms pre-
sening concisely and forc.bly, ,bo utter
absurdity Of the whole affair.
From The Aep I0rk SIN.
WHAT IS THE IB.TREASURY "
This question is asked by many who
have rot made themselves acquainted with
one Of the most celebrated financial sys.
TENS Of modern times, The question viii
come before Congress in a lew weeks,
When sc shall hHve the opinions in that
quarter. In the meantime il MAY he weil
10 glance at some Of the abuses Of the sys.
TEN in other countries, which It viii lie
necessary to guard against IN attempting 10
carry It out here, Mexico, several Of the
German States, China and other Asiat.c
countries, have had the Sub-Treasury svs.
ten OF finance from the earliest pcrlud5 Of
their history, and in every country where
il prevails, large standing armies are re.
lulred 10 guard he Treasury. aud hold the
people IN check, Ii we understand the :
ub-Treasury law abou, 10 be presented to
congress, 1t proposes TO collect the rcyc. l
lues Of the General Government IN gold and
silver coln 10 appoint Iarge number Of {
new officers Of government, to be called I
Sub-Treasurers, TO take charge Of the coin
when collected TO pay to these new Sub
IIeasurers annual salaries varying from {
five thousand to two or three thousand dol
lars each to construct great ron vaults,
with the requisite bolts, bars aud safety
locks, for the satc.kceping Of the gold and I
silver coiu and 70 employ the necessary
force ot armed men in all our large cities, {
to guard and protect these iron vaults from t
robbery and p.uuder There is no great ;
difference between this system and that il {
use Ia Mexico. Bot we shall be told that /
{ has not had c fair trlal there, whether c
wing to the unprinclped character OF the |
Military ChlcnaIus who have pIunGcIcd d
mat unhappy G9unlddy * cds4n II" * stem 10
make robbers Of The popular leaders for the
sake OF p,dudcr, We are unable to say:
certain It Is, however, that most Of the
officers Of government IN Mexico have used
the Sub-Ircasury as their own they have
robbed It al VIII, numbering each other
without mercy 70 get possession OF the GOV,
eminent and the coin IN tie vaults. We
have sold that the ub.Treasurv is always :
accompanied by large standing army
We believe there are TO exceptions Of tins
rule, in the despolIc countries that have {
suU-Trcasures. The Emperor Of Russia
has the coin Of the country IN q large ynuI;
Of his own, near lie RoyaI Palace, sur.
rounded by one Of The best standing armies +
IN Europe. Such are some Of the evils y
Visiting m every county having q Sub
Irensutv. 1t creates tlsiFust, suspicion, +
and Wuut Of confidence wherever it pre-
,a,Is. The financial system adopted by {
he Nrescn; administration appears 10 be I
'at.. ludjclous, economical and altogether L
lnoYecion'o'v. Il gives great sausfac. 3
iou tothe people, and all Acknowledge that 5
{ is the safest and cheapest that could DC i
adopted. The administration requires from t
IS repositories full security in Government +
lock, dollar for dollar, and the deposIto. e
les in return cagnge to pay DOT the money Q
u gold, silver, or paper, as wanted by the
government, IN any part Of the Union I
without charge o' expense Of any kind
This is certainly better system than lock b
ng up specie in vaults, hiring an opalenl II
ltlzen at fleen dollars a day to keep the +"