Delaware State journal, advertiser and star. [volume] (Wilmington, Del.) 1832-1833, 1833-09-27


public in it's favor. Most of them are liable
To the SAME constitutional objections Tor
which the present Bank has been condemned,
and perhaps to all there arc strong objections
on the score of expcdicncy. In Kidding the
country of an irresponsible power which mas
attempted to control the Government, care
must be taken not to unite the same power
with the Executive branch: Tog give Pies
ident the control over the currency, and the \
power over Individuals NOW possessed by inc
Bank of the United States, even with the
material difference that he is responsible to
the people, would be AS Objectionable and as
dangerous as to leave it as it is. Neither the
one nor the other is necessary, and therefore
ought not to be resortcd to.
On the whole, the President considers it as
conclusivcly settled that the charter OF the
Bank of the ''nitcd States will not be renew
ed and he has no reasonable ground to be-
lieve that any substitute will be established.
Being bound to regulate his course by the
laws as they exist, and not to anticipate the
interference of the Legislative power, for the
purpose of framing new systems, it is prop
er for him seasonably to consider the means
by which the services rendered by the Bank
Of the United States arc to be performed at
ter its charter shall expire.
The existing law declares, that "the de-
l;aces in which the said Bank and branches
thereof may be established, shall be made in
said Bank, or branches thereof, unless the
Secretary of the Treasury shall at any time
otherwise order and direct, in which case
the Secretary of the Treasury shall immcdl-
ately lay before Congress-. if in session, and
If not, Immediately after the commencement
of the next session, the reason OF such order
and direCtion,"
| The power of the Secretary of the Treas
urv over the depositcs, is unqualified. The
proysion that he shall report his reasons to
Congress, is no limitation. Had it not been
inserted, he would have been rcsponsio Die to
Congress, had he made removal for any
other than good reasons, and his responsible
ity now ceases, upon the rendition OF sufiici-
ent ones to Congress The only object OF the
provision, is to make his reasons accessible
to Congress, and enable that body the more
readily to Judge of their soundncss and puri-
ty, and thereupon to make such further pro.
visions, by law, as the legislative power may
think proper in relation to the dcposte of the
public money. These reasons may be very
diversified. 1t was ascertaihed by the Sec
rotary of the Treasury, without contradic-
ton, as early as 1917, that he had power ''to
control the proceedings" of the Bank of the
, United States at any moment, "by changing
the depositcs to the State Banks" should it
, pursue an ilibcral course towards those in
situations; that "the Secretary of the Treas
ury will always be disposed to support the
credit of the State Banks, and will invariably
t direct transfers from the deposites of the
r public money in aid of their legitimate exer-
tons to maintain their credits" and he as
t serted right to employ the State Banks
when the Bank of the United States should
0 refuse to receive ON deposite the notes of such
81
p should be received in Payment OF the public
dues. In several instances he did transfer
: the public depositcs to State Banks, in the
immediate vicinity of branches, for reasons
S connected only with the safety of those Banks,
t the public convenience, and the interests OF
c the Treasury.
u If it was lawful for Mr.. Crawford, the
t Secretary of the Treasury, at that time, tc
!, act on hese principles, it will be difficult
!, to discover any sound reason against the
!. application Of similar principles in Still
!. stronger cases. And ii is matter o.
f shrprite that power which, in the in
i fancy of the Bank, was freely asserted a:
c one ofthe ordinary and familiar duties o
: the Secretary Of tie Treasury, SHOULD
!. now be gravely questioned, and attempts
made to excite and alarm the public mine
1
: was ABOUT to be usurpcd by the Exccu
!. tive branch Of the Government.
1t is but little more than two and a
half years to the termination of the char
o ter Of the presen, Bank. 1t is consider
c ed as the decision of the country that i
" shall then cease to exist, and no man
G the President believes, has REASONABLE.
!. ground for expectations that any Other
!, Bank of the United States will be Great
!. ed by Congress. To the Treasury De
l. partmcnt is entrusted the safe keeping
e and faithful application of the public
= moneys. A plan Of collection tlilcren
% from the present, must therefore be in
=, y, troduced and put in complete operation
y. y before the dissolution of the presen
= Bank. When shall it be commenced
Of Shall no step be taken in this esscntia
S. concern until the charter expires, an,
as the Treasury finds itself without an a
e. gent, its accounts in confusion, with n
'e depository for its funds, and the Who'll
business of the Government dcrangcd
{, Or shall it be delayed until six months
~ or year, or two years before the cxpi
lie ration Of the charter? 1t is obvious tina
to any new system which may be substitut
is ed in the place of the Bank of the Unite,
I'd States, could not be suddenly carried in
en- TO effect on the termination Of its cxi>
OF tcnce without serious Inconvenience t
- the Government and the people. Its vas
N amount OF notes are then to be rcdeem
e. ed and withdrawn from circulation, ant
0. its immense debt collected. These op
e pcralions must be gradual, otherwis
lie much suffering and distress will b
.. brought upon the community. It ough
id "a u. ~, . ,yo,L oF ,non,hc oui,, Inf n