The Carolina Spartan. [volume] (Spartanburg, S.C.) 1852-1896, 1857-10-29
Origin Of the Sub-TreaSury.

, The admirable working OF the Sub
Treasury scheme, under the first monetary
crisis which has occurred since its introduc.
tion, has made it important that its author
should be known and have the credit due for
SO wise measure. The following, from tile
Washington correspondent Of the Charles.
ton Standard, shows to whom this honor
belongs, aud among the names Of its few
early defenders and friends we are pleased
to note the name Of Hon. Francis w. Pick.
ems, the prominent candidate for the Uni
ted States Senate, as successor 10 JUDGE
Butler: .
Every thing now connected with the Sub
Treasury is OF peculiar interest-for tbis
new system of financial policy has worked
Ike charm during the present money cri.
SIS over the country. In 1887, when a
suspension of banks was general over the
whole country, there was hardly sound
spot upon which 10 stand, while trying to
rebuild their shattered institutions. How diff
ierent is the case now! As the reservoir
furnishes constant supply of pure and
healthy water, S" does the Sub Treasury OF
the country. by pouring out a supply Of
specie in its legitimate operations, notirish
and support all the grea, interests Of the
country, while the banks and banking i'm !.
sutulIons are undergoing system of puri.
tcaliun, as necessary for their own health
as for the good Of the community.
But with whom did the it.a Of Sub.
treasury, now SO popular, originate. Some
say It was the natural offspring of the &.
nanclal crisiso of lS37-others, that it spraue
from Col. Ben,on's hard money doctrine,
during the time "Beuton mint drops" were
more talked of than handled. | know il
to have been Of still earlier origin, and
think lean give ycu the true source whence
emanated the grand scheme.
la the years of lS33-'34, the Hon. WIN.
+. Jordan, tEen membe Of Congress from
Virginia, and while the favorite pet Bank
Bill OF the Jackson Administration was un /.
der consideration in the House of Represeu.
ta,ives, moved 10 strike out all of tho bill
after The enacting clause, and insert:
That from and after the - day of
- III the year -, the Collectors OF
pubic revenue at places where the sum col
lected shall not exceed the SUN Of - dol.
lars per annum, shall be the agents of tho
Treasurer TO keep and disburse the sums.
and DC subject to such rules and regulations.
and give such bond and security, AZ he shall
prescribe for the faithful execution of his of.
| flee, and shall eceive, in addition 10 the
compensation now allowed by law, - per
cenium on the sums disbursed, SO tb n,
IT i0e' NJ, orceed the sum of - dollars
| per annum.
SECTION .. 4nd be Il further enacted
That at places where the amount of public
revenue collected shall exceed the sum oi
- dollars per annnm, there shall be ap.
pointed by tho President. by and with the
advice and consent Of the Senate. receivers
OF the public revenue, to be Agents of the
Treasurer, who shall give such bond and sc.
curiiy to keep and disburse the public reve.
nue.. and be subject to such rules and regu-
lations, as tue Treasurer may prescribe, and
shall receive for their services - per centum
on The sums disbursej. provided it does not
exceed the sum Of - dollars per annun.
SEcrioS 3. lind be il further enacted
That from and after the - day of -
the whole revenue of the United States. de-
rived from customs, lands, or otherwise. shall
be paid in the current coins Of the United
| States"
On the question, shall the bill be SC
amesded" it was decided in the negative
Ayes SO, nays l6l
Those who voted in the affirmative. aUd
who stand recorded on the pages of our ma
tional history as the thirty.three origiaa.
Sub. Treasury men, in favor of divorcing .
Bank and State, were; John Quincy Ad
ANS, Mass; lIeman Allen. VT; John j. Al
! len, va; Chiffon Allen, Ky; WIN. 5. ar
cher, Va; Noycs Barber. Coun.; James NJ
ii. Beaie, Va; Martin Beatty. KY; Rober
B. Campbell, S. c.; n. III. Cl,iborue, Va.
Wm. Clarke, Ia; Aug. IL. Clayton, GA;
( Amos DAVIS, Ky; Thomas Davenport, Va.
Edmund Debcrry, n. c.; Thos. + Foster
Ca; Roger L. Gamble. Va; jaime. IL
Gholson, Va; VIM. F. Gordon, Va; John
Ii. Griffin, North Carolina; Jas. L. Heath
/ Nd Roht l.. Leicher. Va; Dixon III. Lew
Is, Ala; III. g. Martindae, n. Y; YIN
4 McComas. Va; Francis w. Pickens, 5. e..
John Robertson, Va; David Spangler,
Ohio; John n. Stee'e, Nd; VIM. z. Tay
Ior, Va; Richard II. Wilde, Ga; Lewis
Williams, n. G; Henry A, Wise, Va.
STURGEON AND SLAVERY Al. America,
minister called upon Mr.. Spurpeou AN,