THE EXCHEQUER BILL. Attu VILIAORE'S REPORT The 'committee of Ways and Means, of the S. House of,Representetiveta in' recomplend ing the rejection of the E.:definer project. ) have • ... submitted a Report, in which the numerous de. • . fee% of the system are fully set forth. Tito Re. Portbriefly,considers the several modes in which it has been , thought that the' Government might • _ • discharge its con tntional duties on the subject, of finance and currency: The matter effluence •' relates To the collection, safekeeping and dr fiefrement of the p'oblie revenue; that of ettirency to creating and propM.ly ,regulating the eircula, ling ineditiin 'of 'the country, ' •" • " . _ The - Sub. Treasury, though The I:itt of ad - the modes in ;mint of 'adoption-as n system of the U; 'States is the oldest in point of time es It relates to the general subject of finance.' It 'preceded • banking-Institutions, and it rejects the current Cy which-they furnish. Its origin is contempo racy with, that of the earliest despotisin. IL .. provides for the colketion of taxes and dues to , the Government in gold, and silver, and the • •.,Treasury . relicers of the Government ore made the holders of the . ptiblie,money.. . Its. character • „.. is simply fiscal; it recognises "'no authority , rtor duty in ' the Government to furnish a currency for the use °Nile People. We might add, more over, that it tend, to destroy nll the currency' ex. cept the • metallic, when operating in conntries • 'where banks exist. ' • , The State Dank : SystAin is the second mode 'referred to. By this triode the taxes and . public • dues are collected end disborsed in speck, or the .. • bills of .specie paying banks, and between the •time •of collection end disbursment, th e .puldie „ . — moneys - are - deposited in certain selected State • banks for safe-keeping. plan . was adopted • . in 1833, both as a financial Lied a currency - meas. • . aro—professing to provide a safe place of deposit , tor the pirfille revenue, and a good currency for • thd People. It failed in,. both particulars. :The . Report ,'remarks; however, as a .singular fact,: that• this univeriiilly condemned' system tins„ hem necessity,,been mere or less used from 1533 to the present time—a most convincing. evidence that 'even State banki are - considered a safer place of deposit than the hands of individuals. 'The United States Book 'system 'is the third mode. BythiS the General GoVernment, instead of employing the banks chartered 'by the . States, • river. which it has no control, and,in which it has no interest, charters a bank with capital cient to ensure the safety of the public deposites, ,in which it is itself a.large stockholder, sharing in its profits, and then directs the taxes and pub: _ .•h e, dues to be collected in specie or the 'bills of 'this bank or other specie paying. banks, and, be tween the time of collection and disbursement, to ho deposited with this bank. 'this system • • professes not onli_to_ provide a safe'. place for keeping the public money; but also's. Booed, nni form currency for the People. For nearly forty - 'years during the fifty three since the adoption of the Constitution; this system has successfully ac •complished hoth of these objects., Until a recent period therm three modes were the only ones sogges.ted or tried ,by_the Govern. 'ment in relation f firiailec and currency; and the Comhdttee declare that they cannel well con ceive ' from these three. ' . The Report next proceeds to consider the Er •• 'chequer plan,: and quotes from the President's Message.the portion .relating to that: project.— We „. neittknot recapitulate the particulars of the plan , as they aro familiar to our readers. It is chained fur the Exchequer that it will pro , vide for the safe keeping of the public money ; that it will furnish a paper circulation equivalent to gold and silver for•the use ot, the country, and for safe and convenient payments into the 'Freese ry provide -to some extent the meats of a cheap and safe exchange - in the coin •-• -memo between the Sham It is added, also, that, -as between a Bank of the United States. and the Sub-Thasury, theExclicquer proposes to avoid the objections which exist to each,. and to 'accent- Tilsit to some extent.the good designed by both. First, as to a, plan of sate keeping 'for the public money, what aro the Merits of the Exchequer ? now does it compare with a bank of the United. - 'States. The late National Bank had a capital of $35,-