Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1846-05-05

l
| hoaored, and unsung.''
| have shown, Mr. Chairman, that the sub-treasury
scheme, when first proposed, violently oppo
and denounced by the leaders of the democratic par
". have read from Mr.. Polk's speech
showing his opposition IT. viii read some Of
the opinions another distinguished member the par
~, less parsonage than the organ OF the presen,
administration commonly denomn4ted Fattey Rtehie.'
Mr. Richie not only opposed il when it presented by
Mr. Gordon in 1888, hat continued his opposition after
Nr Van Buren, hal adopte il the lsa4ing
his administration. He then the editor the Rich
Inond Enquirer the leading paper Virgin
and in the columns of that paper expressed himself
thus in relation to the Sub treasury:
The scheme is wicked. it can ONLY DC said to
be wanton experiment TO discredt the State
banks, and ETouiI essentially ali: Mr.. Bildle his
bank III breaking III I'm down.
':1.et get hol, and all the restraints the
Constitution Will be broken down. with the liberties of
the people
"Nr. Gouges plan of 5ub-treasuties for the United
States. and the reduction OF the gol and
silver view as little short of system of puh niiIaqe
and which, if carried into effect
duce general bankrupt law to cmancipatc debtors from
the bondage Of iron hearted creditors
There TO have been something prophetic in this
prediction of Mr.. Ritchic prime pies
treasury, if carried would Unnecessarily produce
general bankrupt law Such was the universal embar-
rassment produced in the country by The Democr
pertinent upon the currency including the Subtreasa
~, that general bankrupt law became indispensable
and adopted.
But let of Mr.. Ritchies opinions of
this scheme At another me he said
The institution and establishment Sul-trcasures
at all the necessary and commercial points the nj
ted States, would cost the Government several millions
of dollars Strong houses with vaults chests bars bolts
and locks, would be necessary with a regular of
watchnen, and an additional set of officers. 10 blind
the public tn. might be commenced with very
few officers but they would be increased to
any number actually necessary
I'VE DO not hesitate say, that the sub-trcasures
kpan :tui
hitting the public funds than sound ANA properly regu
Called that, in the LIST place, ii viii enlarge the Exccu
tive powe-, already too great for Republic. 2ndly.
That it contributes to endaager the safety of the public
funds: and dly that it IS calculated to produce
rcnclesa baser for the people and better
the Government.
"The reflect upon the matter, the more we
read the speeches of the orators both Sides the
firmly are we satisfied Of the strength Of these obec
tons We think the State Bank the better in all
respects it prevents the multiplication of Executive Of
ice, and limits their control over the public funds
1--WE opposed the Sub treasury SYSTEM denomna-
ted in 1884 we maintain the same ground in lS37."
A moro emphatic condemnation of this could
not be expressed, than that which pronounced by
the who is the mouth piece of the party abou,
adopt of the land. But .Fathcr Rtclie"
don much alarmed about the Sub-trcasury now
as he dad then, at least he does not the
try of the evils be apprehended from
long and loud as those which he sounded through the
columns of the Richmond Enquirer. The "OJ@nH" has
changed its tune, and does play the kind of nu-
sic that it did formerly. 10 believe tina, the ven
erabe editor of tho Union has changed his opinions
much he may have altered Ills relation to
it, think he sill entcrtains better opinions Of the
Sub than those which have read from bis paper
do lot believe that he has advocated il in the coll
umns of the Union; at least, article in its favor
IN that paper has met observation. But it is not
difficult to account for the Old silence lie has
ocn elected printer Of both Houses of Congress by the
Democ ATTIC party from which he VIII realize profit of
hundred thousand dollars; and he would hard
~ hazard the loss favour and friendship
Of those to whom he is Indebted for great favor by
xpressng opinions which will the dicta-
ton Of his party.
But Mr. Chairman, must dct1in the Committee
y bile read two short TO show the opinions
another distinguished democrat relation to this dao-
ratio l viii read editorial articles
rom inc sGilobe, the o~r,n'' yf tho administration of
len. Jackson Mr. Van Buren, written by Francis T.
Clair, the special ana devoted friend Of both lesc a--
lies express the which M-. lair entertained the
Subteasury when it first proposed, before it had
'een made party question, ana when his mind free
act uniniuenced by party tremmeis. He then spoke
If it in this language
1T pa pate the that the effect of the Sub
reasary) scheme would be 10 bring the public treasury
much the actual custody Of President
han It IS md ii to be plundered by hun
ired hands whore Oh. cannot now reach it ,
Again lie said
s'Had such suggestion f-orn Jackson it
would have been rung through the Old Dominion, as
conclusive proof of all the ratons winch have
'een charged TO the hero OF New Orleans. here,
they would say he wishes 10 put the public moneys d.
ecty into the hands OF his friends parzans,
y keeping Il dcposite in banks, whence be
rawn for other than public purposes without certain
detection In such should feel that the people
lad just for alarm, ought give their watch
I'll attention TO sach effort enlarge Executive pow
r, and put into his hands The OF corruption
might al. the time allotted in reading
r
ed, denounced almost universally by the Democrat
party Notwithstanding the uaani:ty with which the
low sustain it, but viii! further time upon
his point 1t is we'll known every man who is fafuiI-
with the political history Of country for The last
fifteen years Since the repeal of the Sub-treasurv in