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that suspension or specie payments 19 no more an evidence of insolvency in a bank than it is evidence of insolvency in a planter that he has not in his pocket or his drawer gold and silver to meet all his debts. The notes of our banks will still be as good as they were when redeemed with specie, and will answer the purposes of the farmer and mechanic just as well. They will procure the same amount of bread and meat, and the bread and meat will be as sweet and as nutritive. The demand for specie which caused the Philadelphia and Baltimore Banks to suspend was of course greatly increased by the suspension itself; heavy drafts were immediately sent to Charleston, which, if suspension had not taken place there, would immediately be followed by others that would soon drain the barks of all their specie ; and then, of course payment in specie would be impossible. Every one knows that it is better to suspend now than be obliged to do it a few days or weeks hence under circumstances much more disadThe only persons whom a short could benefit would be The vantageous. delay speculators. but gufferers would not be the banks only through them, also the community at large. In these remarks we would not be understood as meaning that suspension itself is not an evil. It is an evil and a great one, but inevitable in the circumstances. In addition to the numerous other ill effects, it will certainly derange the currency of the country still more than it has been, and increase the on No merchant who at a can pay purchases premiums goods exchange. distance for even when he has the cash in his pocket, and is in person to very them, going the counting house of his creditor, without first exchanging his money at a heavy premium. The merchant cannot be the looser in this expense. It is part of the cost of his goods, and must be taken into the account when fixing the price at which he can afford to sell them -aye, he is entitled to his profit, and must have it on this items in the cost of his stock. And is the looser ? the as who on then other The consumer, last purchaser of the goods. Every man, particularly at the south and west, " ho buys a a yard of broad cloth, or of linen or silk ; or saddle, or a pound of iron, or of sugar or coffee; or a gallon of molasses or a bonnet or ribbon for his wife or daughter; or a school book for his child, is taxed to pay the premium on exAnd into whose change. northern pockets does and this tax go? Into those of our eastern fellow cirizens? No, not all but into the pockets of brokers and dealers in exchange The evil at last falls upon the farmers and planters, the dupes and pack horses of office a ho ders and office seekers. Is this a necessary state of things Is it impossible in the present improved state and of - facility rapidity of intercourse and transportation between the remotest sections of our country, to maintain a uniform and sound currency Past experience most conclusively proves that it is not. To a United states bank, constitu. ted like the two former, there are strong, if not insuperable objections ; that the immense power for evil, as well as for good which they to posses ed, was not corruptly exercised, is be ascribed rather to the integrity and good sense of the directorship, than to want of temptation or opportunity. The constitutional oh. stacle: to a United States bank could be easi y in removed, and an institution could be set operation which should be both effective, and safe This could be done and the Sub-Treasury scheme of keeping and disbursing the public revenue he still adopted, if the country should see fit. The Sub-Treasury and currency ques tions have been so long incidentally blended, that the public have come to look upon them as one; but 60 far from this, they are in no respect necessarily connected. The revenue of has been as an of regulating ment the government incidentally used the currency. instruBut if, as experience would seem to prove, mere to in this country are too prone such when its politicious abuse power direct need exercise not be is entrusted to them, it certainly done. Let the money of the office holders be kept to itself locked up in strong boxee, till it IS paid out to them, if it can be kept in that way. The country is ten thousand times more interested in maintaining a sound, stable, uniform currency, than in the petty (or what out to be a petty) question, how an by whom the money for office holders is to be kept and disbursed. For this is but a statement in other terms of the Jub-Treasury question. The Federal Government has no right under the to collect or or or super-treasury, one constitution any sub-treasury handle, hoard cent in of money except merely what is necessary to pay its officers and servants. Let these officers quarrel about the manner of keeping this