From the Lynchburg Kirginian.
THE SUB-TREASURY.
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The following paragraph is going the rounds
OF the papers:


''Ono item of news by the Liverpool is that
two imperial Ukases have been issued IN Rus
sia, which decree that the silver ruDle and It's
parts are hereafter to be the only legal meas
ure of value, also, for taxes, disbursements,
&c. The bank notes 10 be representative OF
value only, and to facilitate commercial inter-
course. Their permanent rate is to DC 35o
copees for 100 silver copees, till 1910. The
export and import duties to be paid in the sill
YER ruble. All contracts between government
and subjects to be in the silver ruble. Ten ru-
bles in gold is to be equal TO 10 rublcs and 80
copees in silver. Foreign exchanges are to
be quoted in silver. A bank for deposites (the
Autocrat's Sub-Treasury, and good warning
for this country, says the New York Star) was
to be established January /, 1910, G g. CaiSSe
de depot,) where silver may be paid in, and
certificates to a corresponding amount given in
exchange, which will always be payable on de-
mand. To this establishment merchants will
be attached.n


The Administration journals copy this para
graph with almost as much JOY as they did Mr..
Consul Trists erpoSc Of the advantages Of the
Sub-Treasury and hard-money policy in Cuba,
But havc,we come to this,-that the people OF
the United States are TO take lessons In political
economy from the arbitrary Autocrat OF kus'
sia, and from the scarcely less arbitrary gov
ernment Of colony Of Spain-tho worst gov
erned country in Southern Europe, except por'
haps, its neighbor Portugal? Well--'t we are
to copy their financial systems, why not oor'
row their religious establishments, their stan
ding armies, their oppressive taxes, their
crowns, and sceptres? Why not erect Co
Iassal Despotism at Washington, and convert
The free and Sovereign States of this Confed.
Grated Republic into Provinces, governed BY
and dependent upon that great central power!
The very fact that the Sub.Treasury principle
is the uniform accompaniment of all despotic
governments, and that it is as uniformly abju-
red and repudiated wherever commercial en-
terprize and civil freedom have secured foot
hold, is to US the most pregnant illustration OF
its incompatibiIi;y with the genius Of our insl-
tutions and the character OF our people; and in
the absence of all proof Of its superior utility