The Painesville (Ohio) Telegraph publishes an article critiquing the proposal of a Treasury Bank.
The Painesville Telegraph (February 15, 1838): [2]
From the Albany Argus.
"The resort of the ultimate use of coin or TREASURY Paper in the dealings of government, will be so gradual, that the transition will scarcely be perceptible."
From the Albany Evening Journal.
"Coming events cast their shadows before"
The state printer has let out incautiously we doubt not, a cabinet secret. The administration intends to "resort," ultimately, to a TREASURY BANK! They dare not now avow it, but such is the design. The government is to be "divorced" from the State Banks, for the purpose of being wedded to the Treasury Bank. Yes, this is the deliberate purpose of the demagogues who rail against "Moneyed Power" and "Monsters!"
But this charge, says the Argus, "will be so gradual that the treasury will be scarcely perceptible." Will it indeed? Sampson was shorn of his strength in the same stealthy manner. Human liberty has never been destroyed by just such means. The thief who robs our house; or picks our pocket, accomplishes his object so "gradually that the transition is scarcely perceptible."
It has been apparent for months that Van Buren, Wright, and Calhoun (what a trio!) were aiming at a TREASURY BANK. This, however, they dare not avow. But the Argus, by alluding to the "ultimate use of Treasury paper in the dealings of the government," has exposed this odious design upon the rights of the People and the liberties of the Republic.
In view of this engine of oppression and despotism, is it not time for the people to arouse themselves? Add to the already alarming patronage of the Executive, the appauling power of a TREASURY BANK, and all is indeed lost! From the first organization of the government, a Treasury Bank has been regarded as the worst of evils. Individuals friendly to a strong government have occasionally ventured to suggest such an auxiliary. But they have been uniformly frowned down by the people. No former administration has dared to outrage public sentiment with the proposition. But the wretches who have brought ruin and misery upon the people, now aim at the subversion of our liberties, by the establishment of a [unreadable]