Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1833-12-28


has near at hand in reserve for US, though vel
unseen BY US, some sure aud happy deliverance
from all impending dangers.
When we assembled here last year, we were
full Of dreadful forebodngs. DO the one hand
we were menaced with , civil war, which. light
ing I'D in single State, might spread ITS names
throughout one Of the largest sections OF the Uni
on. On the other, a cherished system OF policy
essential to TIE successful prosecution oil the In
dustry Of our countrymen, was exposed 10 ,"m''
nent danger Of immediate destruction. Means
were happily applied by Congress to aver! bo'h
caIamities. The country recontiled, anu our
Union once more become a band OF friends ana
brothers. And shall be greatly disappointed
If we do not find those who were denounced US
being unfriendly to the continuance OF our Con
federacy, among the foremost TO fly to its preser
Walton, and to resist all Executive encroachment.
I Mr. President: when Congress adjourned al
the termination Of the last session, there was one
remnant Of its powers, that over The purse, let,
untouched. The two most important powers Of
civil government are. those OF the sword ana the
purse. The first, with some restriction, Is con.
fided BY the constitution to the Executive, and
the last TO the Legislative department. u they
are separate, and exercised BY different respon
slble departments, civil liberty safes but u they
are united in the hands OF the same individual. u
Is gone. That cear.sighted and sagae'ous revo
lutlonary orator and patriot Patrick Henry just
~ said in the Virginia Convention, in reply tt
one Of his opponents: Let HIM eand'diy tell me
where and when did freedom exist, when the
sword and purse were given up from the PEG
.ple2 Unless a miracle in human affairs inter
posed. no nation ever retained its liberty alter
the loss of the sword and the purse. Can YOU
prove by any argumentative deduction, that u
{. is possible to be safe without one OF them. u
you give them up you are gone
Up TO the period Of the termination OF the las,
Session Of Congress the exclusive Constitutional
power Of Congress over the Treasury OF the Unit
ed States had never been contested Among us
earliest acts was one to establish the Treasury
Department, which provided for the appointment!
Of a Treasurer, who was required to give BOND
and security in a very large amount ''to receive
:. and keep the moneys of the United States, and
| to disburse the same upon warrants drawn OY
| I" the Secretary of the Treasury, countersisned
:" by the comptroller. recorded by tine Register,
Z. and NOT otherwise Prior TO the establish
ment Of the present Bank Of the United States,
no Treasury or place had been provided and de-
signated by Law for the safe keeping Of the pub
lie moneys, but the Treasurer was left to his own
discretion and responsibility. When the exist
ing Bank was established, II was provided ina
the public moneys should be deposited with It,
and consequently that Bank became the Ireasu
~ of the United States. For whatever place Is
designated bY law for the keeping the public mo
new of the United States, under the care Of the
Treasur-r of the United States, 10 for the time
being ,he Treasury. It's safety was drawn IN
question oy the Cnief Magistrate, and an agent
= ~ appointed little more than year ago. to
II tod I'm
cu,i,e that Il NJ as perfectly safe. HIS apprehen'
sions Of its solidity we're communicated by the
President to Congress, and committee was ap'
pointed to examine the subject, They, also. re-
oorted in favor Of its security. And, finally,
among the last acts of the House Of Representa-
t,ves prior to the close Of the last Session, was
the adoption of a resolution, manifestlng its en-
ure confidence in the ability aud solI!ity OF the
Bank.
After all these testimonies to the perfect safety
of the public moneys, in the place appointed by
Congress, Who could have supposed that the place
would have been changedf Who could have
ina yined that. within 60 days of the meeting OF
Congress, and, as it were, in utter contempt OF
its authority the change should have been order
edl Who would have dreamt that the lreasur.
y, should have thrown away the single Key to the
Treasarv over which Congress held ample con.
.rc,. and accepted in lieu Of it some dozen OF
KEYS. over which neither Congress nor he has
any adequate control? Yet, SIR. all this has been
done, and i is now our solemn duty to enquire
list. BE- whose authority il has been ordered3
ard ID Whether the order has been given in con-
to-n'y ei.n the constitution and laws OF the
United states?
lagree, sir. and am very happy whenever
can agree with the President, as to the immense
importance Of these questions. He says. IN a
paper which hold in my hand that he locks up
on the pending question as 10, diving higher con.
sideratIons than the s'mere transfer OF sum Of
:. money from one Bank to another. It's decIs'
- ion may affect the character OF our Govern.
"ment for ayes to come" Aod, with him. l
view it as Of transcendent Importance both IN its
consequences and the great principles which the
question involves. In the view which have ia.
ken OF this subject, hold the Bauk as nothing.
as perfectly Insignificant, faithful as it has been
in the performance Of all its duties, efficient as it
has proved in regulating the currency, than which
there is none in all Chrlstendom so sound, and