Currency reform debate warns against debt fueled plan
A congressional speech critiques proposed Treasury notes and scrip financing, arguing it would add at least fifteen million to the public debt and inflate yearly deficits. It urges root corrections like curb overtrading, tighter credit, and a limited paper currency role while promoting private banking and state led monetary solutions.
MENTIONED IN THIS ARTICLE
Banks
Bia
New England
New Orleans
Charleston
Mr. Benton
Treasury Department
Indiana
Ohio
Venice
Genoa
Amsterdam
London
Louisiana
Baltimore
Boston
Philadelphia
New York
Gobi
United Misses
Pepe
Financial plan debate on currency and treasury policy
The discussion critiques a proposed national paper currency scheme, arguing states can issue sound notes, and outlines a plan to repeal the land distribution, curb borrowing, and use treasury notes to meet immediate needs. It also stresses maintaining credit, avoiding new taxes, and preserving the tariff compromise.
MENTIONED IN THIS ARTICLE
United States
Cai
N York
New York
Massachusetts
Pennsylvania
Boston
Philadephia
Congress
Atlantic
Potomac
Georgia
Tennessee
Middle States
South
Treasury
London
Loco Foco
Jamaica
L. I
Wm. Wright
Rich’d Dennis
Wright
Greenwich St
North American College of Health
Chs. M. Tate
Caution Against Treasury Plans and 1842 Debt Path
The speaker argues against Treasury Department plans, warning they risk fiscal dishonor and possible bankruptcy. He presents a ledger view showing 1841 expenses near 20 million, 1842 deficits, and proposes reducing appropriations, recalling lands, and redeeming notes to avoid new taxes while keeping only a six million post June debt.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Gulf
Also Mentioned on This Page
Post Office Department
Canale
Ewing
Virginia
Marcel
Senate
United States Bank
Board of Control
Nore
Secretary of the Treasury
Board of Exchequer
Secre
J. Over
South Fourth Street
Steubenville
D. B. Dorsey
Market Street
Martin Dury
Roman Dury
Joseph Dury
Mathias Dury
Springfield
Jeferson County
Hames
Cincinnati
Auburn
Wright Indiana
THE
N. York
Waruicar
N. American College of Health
Hammerslyst
Richard Dennis
Doctor Wright
Pirus
Henry A Foot
Wawarsing
A. Maria Thompson
Greenwich St . York
Race Street
M M Laughlin
Jefferson
John D Brown
LaGrange
Jacob Baxter
New Alexandria
Ter McGrew
Smit Saml Jones
P . Geo
Craig
Warrenton
Oltchell & Keller
Bridgeport
Belm
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