American Lancaster gazette. [volume] (Lancaster, Ohio) 1855-1860, 1859-09-08
MORNING, SEPTEMBER s, 1859
ANoFarR PfcruRE pAIrrrn.

DIT. Dackus Dao mol enough 70 make The
repairs on his division. as he thought
He made his repairs by issuing certifie ales
in the mode have pointed out, to con-
tractors. in payment OF the work done.
and these certificates were actusllY, as
have been credibly informed, sold at
discount Of from twenty % twenty Eve
per cent, and thus the contractors and |
laborors were feeced. and nobody enriched
except those who bought the cerli6cates--
someof whom have been informed and |
believe. were actually collectors upon the
canal themselves.
But the Legislature did not hesitate a
moment about paying Il ese things. There
was no approp iation there you will o.
serve. and yet they did no. hesitate one
moment TO appropriate The money 10
pay these. by which the laboier had been
deprived of his ear nings. but they refused
to pay the money expended, by the mem
Der in charge OF the Hooking canal, in the
most beneficial as we'll as economical maner
possible. OF that | leave you te Judge
1t seems 10 me it is not proper care Of the
public iuteresis-it is notright
SUB TREASURY.
| Again: We are told. and pointed to the
sub b-lreasury, IS it is called, as the great
achievement Of the Democrats legislature
during the last two years. Let us look at
it for a moment.
start by saying that tbelieve whatever
plan is necessary for the security of the
public funds, should be adopted. l be
lievs that the Treasurer ough, to be held
responsible, beyond ell preadventure, for
all that be receives. II you add to that
tue simple provision oflaw that all your
revenue shall be collected either in specie
or in the hotes ofthe specie paying banks
t Of your State, you have got the sub treas
ury OF the U. S., With this simple differ.
ence, that under the sub'Ieasury of the
r, U. s., nothing is loaned everything is
kept until il is wanted for the public use;
at least that is the theory of the sub.
! treasury system. Well, under this the
ory the money remains in circulation
until it is wanted for public purposes. I
. know there are differences Of opinion as to
these two plans. as 10 which is the safer.
D l say tlat which is the safer ought to be
/. adopted, whichever it be. II the first is
s the safe plan it is the most convenient, tut
!, the point Of safety should supercede every
s other consideration. q.
III ] want to call your attention 10 this
+. system. put before the people. In the
o first place, the sub-treasury system Of the
It U. s, is distinguished by one or two prin.
!, o;oal faat,,eas TIL Get l.kt.,so 3, Al n.
!? all the revenue must be collected in specie,
II eiber in gold or silver, or in notes author.
o lied by the government OF the U. s.. In
r the second place, every depository of the
@ public funds is required TO give tonds to
I the United States, and that bond is in the
v possession of the officers Of the Federal
!, Government. Thus you see there are two
o features. First, the receipt and disburse.
Q ment of the public revenue in certain funds,
70 specie or notes authorized by the general
IS Government Second, bonds given to the
A. Government 10 which the revenue be.
10 lcngs, and immediate accountability t
to them.
RS Test our own system By that. Wha
ls the provision in this law in regard K
,e the receipt ofmonsys? Is there any,
a. None at all. Every Treasurer Of every
Of county is left TO receive just what money
ct be pleases, and suppose that in yonI
)f county you paid in any money which
'e happened TO he current among you. DID
in you not? II ] ain wrong, should like
10 to be corrected. know that the Tresur
l er Of the State received whatever was
le paid to him by the Treasurers Of The
couhties, and ] know that the Treasurer
ke Of the counties, in most cases; received
e. whatever was paid to theih by the people
re and that, / suppose was the case here
ID 1t was Of course authorizsd by law, fot tSt
er law made no provision whatever as 10 tht
I'd funds TO 10 received. Then what woulC
he follow? OF course you pay in whatever
on you happen 10 have. You pay in roteI
ed on Indiana banks; you pay in notes Of 'tht
as Kentucky banks; you pay in notes OF thu
o. New York or Eastern banks. generally
a. You are not required TO pay either in golt
he or silver OF notes authorized by The law
BY of your own State, but you pay in every
n. thing. Now,your Treasurer, we will say
q, has ten thousand dollars in notes Of tbt
] Bank Of Indiana. or in notes oi some banl
en- in Michigan. What is be doing with il
at Watching ii. Watching what? Paper
he Has he got the specie? Mol He has go
Of anything that he car, convert into speci,
10 in the State Of Ohio? Mol He has got
ic paper Then suppose have a thoGsanc
y, dollars in specie and l have ISSUED
p my notes for five and ten dollars, ant
,st these notes 60 into your treasury and ther,
= is your Treasurer watching them. Wha
e? is he watching? Money? No; he 1
,is watching my notes. Who has got th'
ey, specie? have got. it. Who then i
is your sub treasurer? Is your county Treas
nd nfer your sub. treasurer, when be is watch
TO ing nothing but my paper, Or am / ih'
sub.treasufer, who have the specie in ny
or pocket
Id Take the instance Of banks. They hav,
IS issued their paper. These foreign banks
be speak Of. II passes into the hands Of Ih,
ty people; the people pay their taxes with it
Us 1t is placed in your Treasury and you
ID Treasurer has got no authority but pay out
u What has he to do? He is watching will
all his might, but he has got no specie, Q,