Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1861-08-24
SATURDAY MORNING, AUGUST "a. 1861.

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SATURDAY MORNING, AUGUST "a 1861.
The Repeal of the Sub-Treasury.
Democrats who talk about uniting with
the Republicans, to save the country, or
adopting platform to please the Republi.
cans for the same purpose, will find that
Jordan is hard road to travel. They
must not only support the recent act of
Congress suspending the specie operations
of the sub treasury, but prepare to advo-
cate, as a necessary consequence, United
States Bank, and all other rag mill oper-
ations that the ingenuity of man can in
vent to rob the people of their hard-earn-
ings. They must not only 60 for this war
to save the Union but they must go for it
to destroy the South, by aboli shing slav-
cry and holding the States in conquered
subjcction by military rule and standing
armies, the end of which no child now
born will see.
The suspension of the sub,treasury is
the first great move to a total humiliation
of all sound currency, and new reign of
rags and lamp-black. 1t will be matter
of some curiosity to watch how deliberately
the new converts to Republicanism will
handle this new item in the Chicago plat
form.
The Mw York Herald, thus takes the
sop kindly, and informs us that there is
great rejoicing in Wall Street! Why
should there not be! 1t is to them what
the war is to army contractors, SO rich a
harvest that they would willingly hang any
man who would no,o advocate peace:
"Con siderable excitement was caused by
the announcement in this mornings Her.
att that the Committee of Conference be-
tween The House and Senate have reported
a bill amending the Sub. Treasury act so
as to allow banks to retain in their vaults
any money subscribed to government loans
until they are needed for the use of gov
crnment. The bill has passed both hous-
cs, and it is law. 1t amounts in one
word, to abolishiug the Sub treasury for
the time being lIencoforth the govern
mcnt will keep accounts with as many SOL
vent banks as subscribed to its loans.
The banks will find an additional reason
for subscribing in the interest which they
will earn on the amount of their subscrp-
tons so long as thvy are allowed to re-.
main in their hands. Instead of paying
troops and contractors. as heretofore, in
drafts on the Sub Treasury exclusively,
government will hereafter pay them in
drafts on our banks, which will supply the
people of the West with plenty OF good
currency. And instead of regarding the
sub Treasury as their natural enemy,
whose vaults become filled at their expense,
the banks will now consider that institu :.
ton in the light of an ally. This feature
of the law is regarded with decided salts
faction in mcrchantile circles
Twenty odd years ago we went from a
United States bank to local bank, and
from local banks to sub.trcasury. We
now 90 back from a sub.trcasury to local
banks and then from local banks to get rid
Of their spawn, Chat will be the argument)
to United States bank, to sauc the conn.,
try! As these things could not be done in
time ofpeace, it was necessary to plunge
us into a war, to accomplish these great
purposes, ofcruSjting ont lie Democracy!
Now Democrats look well to your mem.
bers of the Legislature. There will be
some necessary bank legislation at the
State Capitals now, to meet this conting-
ency of paper money era. Vote for no
man for seat in your Legislatures who is
not bombproof against the wilos and brbes
of those who will be on hand to pay them
for their trcachery.
We have been told over and over again
here, within the last six months that no
Legislature can be elected that cannot be
Jouglt Democrats it is for you to look
to that, and look to it la time. Question
your candidates, get their answers and
hold them to it. AS this is a hard time
for traitors, see to it that we have none in
our ranks. As was said on another try
ing occasion in our country's politics, we say
now, "a0ara the committees !"
MISUNDERSTANDING was executed
in phil adnlnb;o obout II o'o1ool, an IT,;