Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1858-01-06
Letter from E.-President Tyler.


The following interesting letter from ex-
President Tyler has been placed in our hands
by his sor, John Tyler, ir., ESQ., . whom it
was addressed. The facts stated therein re-
latlve to the origin OF certain plans OF finance
put forward during his administration Of :ho
presidential office, are important as matters
of history, and, without en- dorsing the suG
gcstiUns it contains, We place it on record for
future reference J5FyR.
My Sos; Ny cxchcquor plan will be
| found, IN iimUa, in a report made by Mr..
Forward, then Secretary of the Treasury, to
the Senate, IN the winter Of lS4l2. Ny
message Of December 1911, presents lis out
li1cs, and that Of December 1912, repeats
the recommendation for It's adoption, and
briefly answers the most prominent objections
which had been urged to il. The report
which accompanies the plan is worthy Of
deliberate study. That paper was written
by Webster and adopted by Forward. The
plan itself was my own, and was drawn up
at my house in williamsburg, whittier had
gone for the purpose Of close retirement
while eliminating the work. II was pre-
serted to the cabinet and adopted as cabinet
measure, only one suggestion Of amendment
being urged upon me, and that | adopted
upon the condition that | should present tho
plan TO Congress in the alternative 10 be-
adopted By that body either with or without
the amendment, Us it might see proper. The
amendment simply provided the means Of
paying the expenses by authorizing limited
dealing in the exchanges. Agencies were
proposed to be established 10 ali the States,
but if State prohiJucd il the agency IL such
State was forbidden u deal in exchange
This proviso was INCORPORATED By myself ur-
der the decision Of the Supreme Curt in the
case of the City OF Augusta rs. Earle, ard
ether similar cases. | cannot lay nv hand
on the original draught as prepared by my
self, and presume handed it over to Mr..
Forward. The scheme, doubtless, may be
modrfic and improved-Mr. Cushing's say
gestiODs 10 the House and those Of Mr..
Talmadge in the Senate, in regard to it, are
well verify to be loCkei to. My present in
preston is, that taking the sub treasury as
It's basis, and authorizing the issue Of ceTtifi-
Gates Of deposits to individuals in the form
Of bank notes Of denominations Of s. and
up to one hundred, with larger sums to be
put upon the footing Of bills Of exchange, for
the issuing Of which the actual premium ut
transporting specie from one place to aaoth.
er should be charged, the c1uOtry would
have a paper currency which would be the
true representative Of the precious metals
and would circulate ell over the commercial
world. In order to get it under way the
government might issue certificates to itS
creditors, taking care TO place actually in
deposit gold and silver to the amount of each
certificate. The specie deposited should be
regarded as sacred for the purpose Of re
deemiDg the certificates whenever presented.
Those certificates would bear premium in
the markets Of the world, and furnish a cu-
rency OF moro value than gold or silver, be-
cause more easily transported about one
The only dlnger would be that the bankers
would snatch them up for boarding in place
of gold and silver. The agencies might be
the sut-:reasuries; but OF course tue govern
ment funds should be kept entirely separate
aud distinct from the fuuds of private deposi-
tors, except as suggested above. The Madi-
sonian Of that day would repay the reading
Of Mr.. Harris, as many OF the articles pro-
ceeded from the great minds Of the cabinet in
support OF the project. lie would also revive
his earlier recOllections by referring to Mr..
Jefferson's letter to John W. Eppes, 10 tho
volumes of his correspondence, (which vel
ume | do not at the moment remem ber. y
The letter was written, think 10 the year
1916, and relates to finance. BY consulting
the index be would readily fnd the letter.
1t will repay his search. AlectionateIy, your
IA Their, JOHN TYLER.
TO Jous TYLER, Jr., Esq, Washington City.
TTO THE PUBLIC.-PleAse take notice, that
have stopped payment OF a Check OF
NINE, dated 18th December, 1857, on the Far.
mers' and Mechanics Bank Of Georgetown, Tor
500 Said check was given 10 man repre-
senting himself as Mr.. Davis, who brought
forged order from Benjamin Rowland, OF Wash.
ington county, Tor tina. !sum. | therefore warn
ali persons from receiving said check. Re.
specuuly, GEORGE WATERS.
Georgetown, jan 6-3t'
q Onan ORANGE AND ALEXAN- .