Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1846-08-06
From the New York Tribune
The Sub.TreaSury Passed!

ge. the number:) the Senate passed the Sub
Treasury bill by strict party voe-2S to "a.
Now says verdant and holhealed Loco
Foco. we have got the Banks on the hip
Down with the Rag-MilIs! Down with Rag
Money, for ever and ever'
Softly, my enthusiastic friend; you have got
The Rag System down just as the General Del
uge drred up all the streams and lakes on the
face of the earth. The Government. has re-
solved TO discountenance other peoples Rag
Money, and manufacture reams of such itself !!
Congress has passed bill directing that Bank
Notes, based upon and payable in Gold and Sill
yer, 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
Shinplas,ers, payable on demand in nothing
whatever, and only redeemable at the pleasure
of The Government, itself or receivable in pay
ments to it. The Government is abou. TO evince
lis horror of Shinplas,ers by covering itself all
over with them-eaung, drinking and sleeping
upon them. Such is the consistency of that
sor, of Loco. Focoism which now fourshes in
the high places Of the land.
Hard Money Sub b-Treasury-,hal is a Co.
vernment receiving, keeping and disbursing
Coin only in all its pecunary transactions-is
very serious affair, but its s,raig ght.forward,
upright, downright con,rivance body can
understand it, If we were hostile to all Paper
Money, we should be in favor Of this. But,
sincerely believing tha, Paper Money Issues
have done good and are capable Of doing still
more good, though certainly liable 10 abuse, we
are very earnestly opposed TO Sub-Treasury.
We respect those who honestly differ from US
on this point, we are willing their project should
be fairly tried, for we believe fair trial would
settle the controversy as we think it should be
settled. If it should selle it the other way, by
proving the superiority of an exclusively Hard
Currency, we should rejoice at that, TOO /; for
the truth is the best thing for US and for every
body. lie. some scheme be fairly tried, SO lha,
something shall be settled. But this plan of
denouncing Banks and creating Government.
Bank-.-sopping the receipt of unexcep.ionable,
specie-paying Bank Notes at the Custom. Hou.
ses, Land and Post Offices, and at the same
time vomiting forth Rag issues of the most un-
substantial and vicious sorI---evidences Of in
ability of The issuer--is prepos,erous, monstrous.
1t is as though some desperate, notorious, bank
rup, gambler should advertise the public that
he could no, venture to take the notes Of John
Jacob Astor or The Bank Of New York, and had
concluded TO accommodate the public by issu-
ing some of his own, payable at his conven.
ence, instead. Ii canno. be that an intelligent
People will approve Of this.
We wish those who hold the views opposite
to ours on the grea, fundamental questions OF
practical Government could for once cleo, func-
tionaries who would give their principles fair
play. Either the views we have ever advoca.
led are sound or absolute Free Trade, with Di.
rect Taxation and the Revenue receivable in
Hard Coin only, is the true policy. There is
no middle ground on which an honest man car
stand an instant. We stand on our own pro-
per ground; we believe The great mass Of ouI
opponents wish 10 staDd on theirs. But dem
agogues without faith in their principles with
faith only in The potency Of their votes---stant
between them and their measures demand BY
their principles and prevent any consideration
of those measures. They shake their head.
muller, These distractions will never answe
---loo ultra they'll ruin the party
and so the multitude behind them are kept fo
ever wrangling through controversies in which
nothing is clearly a. stake and winning victor
les 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 grea
speech on the Sub-Treasury demonstrated, tina
the end aimed at by The conlrvers of the Sub
Treasury was Government Bank, Of which
they were to be the Directors, Officers ant
beneficiaries. This we are now to have in
shape that Law himself might have envied.---
Sir Robert Walker is President, and what sor
of fnancier he is, the records of judgments il
Mississippi, Tennessee. Louisiana and the Dis