Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1833-10-03

The President thinks that these faess and cir
cumstances AFFORD rs strong . guarantee Ne
can be had in human affairs, for the safety Of
the public fupds, and the practicabiiity cf n
new system OF collection and disbursement
through the agency Of the state banks.
From all these considerations, the Prcsi-
dent thinks thar the state banks ought imme-
diately to be employed in the collection and
disbursement Of the public revenue, and the
funds now in the bank u tho United States
drawn out with oil convenient dispatch. The
safety Of the public moneys, IL deposited In
the state banks, must DO secured beyond ali
reasonable doubts; but the extent and nature
Of tie security, in addition 10 their capital, If
any be deemed necessary, Is subject OF de-
tail TO which the Treasury Department will
undoubtedly give its anxious attention. The
banks 10 be employed must remit the moneys
OF the Government without charge, rs the
bank OF the United States now does must
render all the services which that bank now
performs; must keep the government advised
Of their situation by periodical returns; in
INC, IN any arrangement with the state banks,
Tue Government must not, in any respect, be
placed on worse footing than IL now is
The President IL happy TO pc rceive by the re-
port OF the agent, that the banks which he
has consulted have, in general, consented to
perform the service on these terms, and that
those in New York have further agreed 10
make payments in London without other
charge than the mere cost Of the bills OF cx-
change.
II should also be enioined upon any banks
which may be employed, that il viii be ex-
pectcd OF them 10 facilitate domestic ex-
changes for the benefit Of internal commerce !;
TO grant all re asonable facilities TO the payers
OF the revenue; To exercise the utmost libe-
ralty towards the other state banks; and do
nothing uselcssiy to cmbarrass tho bank OF
the United States.
As one Of the most serious objections TO
the bank Of the United States, Is the power
finding other agents for the service Of the
Treasury, not 20 raise up another power
equally formidable. Although ID would pro-
badly be impossible to produce such result
by any organization Of the state banks which
could be devised-yet IL Is desirable TO avoid
even the appearance. To this end, IL would
DO exPedient TO assume no moro power over
them, and interfere no more In their affairs,
than might be absolutely necessary to the Sc
curity Of the public deposite, and the faithful
performance Of their duties As agents Of the
Treasury. Any interference by them in the
political contests of the country, with view
to influence elections, ought, in the opinion Of
the President, TO be followed by an immedi-
ate discharge from the public service.
IL IL the desire Of tho President that the
control Of the banks and the currency shall,
as far rs possible, be entirely separated from
the political power Of the country, rs well as
wrested from an institution which has alrea-
dy attempted TO subject the government to
its will. In his opinion, the action of the &C.
neral Government on this subject ought not
TO extend beyond the grant in the Constitu-
ton, which only authorizes Congress sto coin
money and regulate the value thereof" all
else belongs TO the states and the people, and
must be regulated by public opinion and the
interests OF trade.
In conclusion, the President must be per-
mitted TO remark, that he looks upon the
pending question Of higher confederation
than the mere transfer Of q sum Of money
from one bank 20 another. It's decision may
affect the character Of our government for
ages to como. Should the bank be suffered
longer to use the public moneys, in the ac-
complement OF its purposes, with the proofs
OF its faithiessness and corruption before our
eyes, the patriotic among our citizens will
despair OF success in struggling against its
power and we shall be responsible for en-
failing huPon our country forever. Viewing
IL a. question Of transcendant importance
both in the principles and consequences IL in
wolves, the President could not, in justice 70
the responsibility which he owes 70 the eoun-
Try, refrain from pressing upon the Secretary
OF tho Treasury his view Of the c0nsidera-
tons which impel him 10 immediate action
J.! Upon him has been devolved by the Constitu.
ton and the suffrages Of the American peo-
pie, the duty Of experimenting the operation
OF the Executive Department Of the Govern
ment, and seeing that the laws are faithfully
executed. in the performances Of this high
trust, 10 ls his undoubted right to express e
those whom the laws and his own choice
!, have made IN aha aA~ -t~e.
ton OF the Government, his opinion Of their
duties under circumstances, rs their arise
" Is this right which no now exercises. FaI
be It from him to expect or require that any
member Of the Cabinet should, at his request
order, or dIctation, do any act which he be.
lieves unlawful, or in his conscience con
demns. From them, and from his feIlow-eiti
zens in general, he desires only that aid and
support which their reason approves anC
their conscience sanctions.
I IN the remarks he has made on this aIl-im.
Portant question, he t1ssts the Secretary oi
the Treasury will SEQ only the frank and 70
spectful declarations OF tho opinions which
the President has formed on q measure o.
great national interest, deeply affecting IN.
character and usefulness Of his administrn
ton; and not spirit Of dictation, which tn.
! President would be n careful 10 avoid, o.
!, ready TO resist. Happy will he be, IL Oh.
! facts now disclosed produce uniformity o.
opinion and unity Of action among the mem
bers Of the administration.
The President again repeats that he beg
bis Cabinet 10 consider the proposed mea
sure as his own, IN The support Of which h
, shall require no one Of ;bem 10 make 50
crihee Of opinion or principle Its respOnsi
bility has been assumed, AFTER the most ma
. ture deliberaiion and reflection, - necessar,
TO preserve ihe morals Of the people, IN
, freedom Of the press, end the purity % tn.
elective franchise, Without which all Nil
unite IN saying that the blood snd treasure ex
pended By 0Us forefasheFn In The esiablishmen
Of our happy system q government, will hav'
been vain and frudlsss. Under these convie
tons, be feels that measure 30 important 3,
the american people, cannot be commence,