The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-01-20
CJTY OF WASHINGTON.
.,TURDAY MORNING, JAN. 20, iS48.


mas started get clear OF the CONSTITUTIONAL scluP0 on
,,.cting bank in this District which might dissent SUI
.branches all the Union. The nsdious scheme of
At once denounced. The Enquirer called II whip tu
y, the Devil round the stump"
when the extra session took place IN ISL MI oS tn
sd again full blooded national bank, alhough :" be
been called during the campaign "an Obsolete ueA'
TYLER arrested the daring scheme by the thuhueioo re
The veto But the plan again concocea ny nii' 3,
~ If a national bank in the District win branches &c
h States And this fiscal agent, though 1t was 'heh
,,O,snanced by the administration, was rejected An
uo shall not be surprised to national bank again
oed under the auspices Of Mr. Clay. II he should re-
% 70 the Senate; but in the mean time new and SUD
sheme has Just been thrown ou' by the wee fresi-
-, slec, for furnishing national currency TO Inc
,sroment and people of the United States ms IS
-; .ryhipping the Devil round the sump'--virualiy
,6ry the constitution, and fastening upon the couh-
- = currency distinct from the constitutional curreh
= If cold and slver--a currency which "o"iu oe
,,;ous in its character fuctuating IN Its value
the notes of the several State banks winch shouio
or to place themselves within the category II
= unnecessary for to expose this insidious anu
;..hevous scheme further than to lay before our
,s the following condensed and satisfactory eA
.rre Of its true purpose from the Rochester courier
= January r. We must do the Rochester Advertiser
burper as it is) also the justice TO say mat OH 'ne
,o also blows up citizen Fillmore's scheme skyhgh
other objections which it urges, with some ioloe'
the Advertiser says -.
az, III, srsr Mace we had all along abored under the
4, ,.ion hat we have already "a national currency INC
If ,he stitution gold and silver 1t has beeh
osed by many too that we had a set OF pfae.'c' 'a
h;nerv for carving the financial operations % ,no s
ment Indeed the successful aoiect.oh anu . ~
lad MILL
h,nN under the 'odious sub.treasury-a sum UNI
scsden,ed in amount without loss or INCONVENIENCE, m
hs eople or the peoples government very wen
ho oance that impression the minds oil the uhSo
phisicated. :. ,.a heau,;es of This new
em--for we must be brief Let II never oe io'so'o
49, o,bs, things being equal the money price Oh co'
s ses in proportion as the currency e&pa"s' M
o '' Co,vsrt all our State and national DEBT lnle
,t naner and prices will run up until goods OF al o
inon, bear higher price here man 'i,y -, =.
Tre.sive import. would inevitably fono"' uiey WI wy, ~
I1 far this national rag money--hls again "ou.u ~
'".,,a for specie which would be expof'eo' cie"'
in r.vulsion and widespread rum we mean go.
m shin not that imaginary thing when heeies m"
uously in whig predictions ANY ma" ~ n,nre
go ss that such would be the case that mahoiao,uie
ID n.c.s.ary be crushed, because every ihRieu'en
r,w material labor, &c., &C., woald DC 'as " ; 49,,
- ,rice while the cost of production 70 the 'o'e s 49,
1,nrsr would remain the same NO increase o' pr.
,,d avail in this case; Tor paper expansion Wo"
.uv keep pace with such increase. and neauaiiZe
effects. ,,,.nh o.. of a ,,ner cr
- ,ecevable for all government dues out sun o"'i0"
~ 10 ,,r,nzea and controlled by the STATES ana you Gu
vert our national well as our State pohucs my
i1i,a scramble for banks, and the muiuiafious anu -
mpting sfavors' incident to an iniq"o.s "a ,i..
su.,en, Resides make the national dept tut
hh,si. If the only currency, Tin practical sense ioi ia
l money would be n rarity,) receivable iof goVein, 49,
l and YOU maks a national debt alike indspensaoie'
| .1ha, numerous cunning, remorseless brood OF va
Iron, the bodv polite their only food, would become
l advocate, of every measure involving an ii INV, s
/ national debt Let the public money DC was'eu, III
h,rsna md unnecessary wars in idle schemes Oh
provcment or in distribution, (no mauer') 'hese oea
wan, ,he stock for banking and specializing purposes
care not what of the money when II
L But remember, THE PEOPLE mSt pay '"e oeo' anu '
Il null fHtersst. 49,,
"Tbis would be a banking system oil when the goV'
want selt shou,d be the parent banker; but having s
Tia picured paper, redeema5le In hve ten, or "e".S S
1 would leave the States, and SPECTATORS anu ous'
/ man 10 keep it aaoat meanwhile. Again, how would
Gdera government know that the bank notes would re
,en, United States stock instead of merely iegn'ng
so! Would the right to '"'pee' tue o.ae 20
l and inauire ninutey into their conditloh ihh' WV
mace ali the State banks of the country under the super
o and control of the general gopernmeht II 1t assume
| such supervision, how would it know the aheroiiu1
| tween United States stock banks and hose OIL INC "'u
| gcnus1 ,
| "rbe yolue of the paper currency would depend
/ he onanty of il in circulation and the quahty'
/ no,ne the raw material the stock, to be In exiss
/ would be regulated by the States alone. 30 Tue "
States government would place itself in the preolcae
heinz bound to receive its dues in paper currency o
l ofwhch from year year, no man couid ca'c'ae
l vance. and however much it should be dePrecia'eo
government would still be compelled to take II al the
II rates as gold and silver.
Il From he Rochester Cou
Axorura WING scuEME.-There is nothing conn
with the currency the fin ancia operations Oh the 81
L mani originating under democratic rule and bearn
impress of democratic principle, that ever soi'e'
| moneved arsocracy OF the nation. There never WA
Thing bu United States Bank in the least degree To-"
] 10 them The "pet bank" system was infamous "
became their interest denouncc 1.-THE suo-treasnrl
in its inception a horror to them, and is now the
] their ridcue and spite. A moneyed aristocracy mus
SWAY in some shape, and nothing that can DC ProPc
4 carried into practice by democratic aun'h's''auo
II suit these gentry be saved from annhilauo" AS
they have the power to accomplish thelf purposes
They have SEEM and been satisfied that nationa
/ proper is 'an obsolete idea,' and that II VIII ai"
vain to ATTEMPT the establishment of such an insti
The people have vetoed It more than once i'esor'
therefore be had to some plan to bring about tn
end-if not directly by some unseen and insidious N
/ The comptroller, Vice President elect, has, however
owed forth a plan that him feasible for the
lishment Of "a sound and uniform currency In the
States This plan is to get up free banking sys
the State, similar own, securing the bulls ISIS
II the hanks in the. several States by dcposhe Of
Il STATE, ,,oek, He observes that, then, "Congress
a,,borzs spch notes as were secured by stocks OF
ted States to be received for public duties to the
treasury This would give TO such notes a univer,
H II coeYtens ve with the United States, and leave
\ to be desired in the shape Ola national paper c