Litchfield enquirer., 1833-10-03

 purpose of framing new systems. tt is proper
 for him reasonably Co consider the means by
 which the services rendered by the bank of l the United States are tO 5e performed after
 its charter shall expire.
 The existing laws declare, that ''the de- I ipOsites of the money Of the United Statess in 1 places iu Nhich the said Bank and branches thereof may be established, shall be made in
 said Bank or branches thereof. unlrss the Se-
 cretary of the Treasury shall at any time oth- erwise order and direct, in which case the Se-
 cretary of the Treasury shall immediately Jay
 before Congress if in session, and tt nut, In1-
 mediately after the commencement of the next sessi0n,tiIe reason of such order or direction.
 The power of the Secretary cf the Treasn- l " over the deposites, is unqualified. The l provision that he shall report his reasons to Congress, is no limitation. Had 1t not been
 inserted, he would have been responsible tO l Congress, had he made removal for any other than good reasons. and his respOnsibili- | ty now ceases. upon the rendition Ofsufhcient
 ones to Congress. The only object of the prOvisioo, is to make his reasons accessible to l Congress. and enable that body the more read l fly to judge of their soundness and purity, and thereupOD tO make such further provision "
 law as the legislative power may thing prop erin relation to the dep0ste of the pubic
 money. Those reasons may he very divrrsi- fed. It was asserted by the Secretary of the Treasury without contradiction, as early as I ll8l7, that he had power ito control the proceedings" of the Bank of the U. States at
 any moment, "by changing the depOsites io the State Banks" should it pursue an illibe- raj course towards those institutions that :. the Secretary of the Treasury will always be disposed to support the credit of the State
 Banks, and will invariably direct transfers from the depOsites of the public money in aid of their legitimate eAertioRs to maintain their credit :" and he had asserted right to employ the State Banks when the Bank Of the United States should refuse to receive on drpOsite the notes of such State Banks as the public interest required, should be received in pay ment of the public dues. In several instan- ces he did transfer the public depOsites to State Banks, in the immediate vicinity Of branches, for reasons connected only with the safety of those banks, the public c0nven- fence and the interests of the Treasury.
 Hit was lawful for Mr. Crawford, the Se- cretary of the Treasury, at that time, to act on these principles, it will bes difficult to dis cover any sound reason against the application of similar principles in still stronger cases.--- And it is a matter of surprise that power which, in the infancy of the Bank, was freely asserted as one of the ordinary and familiar duties of the Secretary 1.-the Treasury should now be gravely questioned. and attempts made to excite and alarm the public mind as if some new and unhcard of power was about to be usurped by the Executive branch of the Government.
 It is but a little more than two and half years to the termination of the charter of the present Bank. It is considered as the decision of the country that 1t shall then cease to exist. apd no man, thu President be- lieves, has reasonable ground for expe ctation that. any other Bank of the United States will be created by Congress. To the Treas Ury Department is entIusted the safe keeping and faithful application of the public moneys. A plan of collection, different from the pres enf, must therefore be introduced and put in complete operation brfDre the dissolution of the present Bank. When shall it be com menced Shall no strrbe taken in-this ~es- sential concern until the charter expires, and the Treaslry finds itself without an agent, it's accounts in cUffs.inr.. with no depository for it's funds, and the whole business of the Gov ernnent deranged or sha.iit be delayedun- til six m0nths, ar a year, or two years before the expiration ofthe charter? It is obvious that any new system which may be substitn. ted tn the place of the Bank of the United States, could not be suddenly carried into ef. l feet on the terminations Of its existence with. out serious Inconvenience tO the Government 1 and the people. Its vast amount of notes are then to he redeemed and withdrawn from cir- culatiou, and its immense debt collected.- These operations must be gradual. otherwise
 much suffering and distress will be brought upon the community. Et ought to be not 1 work of months only, but of years, and the
 President thinks it cannot, with due attention
 to the interests ofthe people. be longer post
 poned. It is safer to begin 1t too soon than
 to delay 1t too long. It ls for the wisdom of Congress to decide 0pon the best substitute he adopted in the
 place nfthe Bank of the U. States and the President would have fvlt himself relieved From heavy and painful responsibility if in the charter 10 the Bank. Congress had reser- ved Q itself the power of directing, at it's pleasure, the public money tO be elsewhere I Edep0sited, and had not deyOlved that power Exclusively on me Of the Executive Depart l lnents. lt Is useless now to inquire why this high and itnportant power was surrendered ny those who are peculiarly and appropriate 1 ". the guafdiana of the public money. Per-
 haps lt was an oversight But as the Presi. dent prcsumes that the charter to the Bank is
 to De eonsidered as a contract on the part of the Government. it is mt now in the power Qf Congress to disregard its stipulations; and ! Uy the terms of flat contract the public mo-
 ney is to be deposited in the Bank, during the
 ccntinuance Of It's charter, unless the Secre-
 tary of the Treasury shall otherwise direct.
 Uplesss therefore, the Secretary of the Treasury .hrst acts, Congress have nO power Af.ar aan.Sx. R. ah.-