Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-01-29
Mr.. SoUTHARD'S sPE Ct
On the Remopal Of the Deposlfes.
[coNcLUDED.j

Was detected by the inquisition, and which
proyes an effort to gain political power, and
forms a reason with the Secretary, relates TO the
exoense accountant the only questioned mat
ter in that, is, its publication of certain papers
prepared by others, and circulated by 1t Ia ltS
own defence. Now, this subject was lnvestgat-
ed by Congress under the auspices OF the trlenos
of the Executive, and their powers under the
charter were ample for this purpose, although
the same powers are not given to the executive
Congress did not think fit to act upon their IN
yestigation of the facts; yet they had scarcely
left Washington, before this lnquisition was es-
tablished under Executive patronage. And what
was discovered2 Nothing but what was upon
the books. and must have been known to the IN
vestigating Committee. The first cause OF COM
plant is, that the President OF the Bank was au-
thorized, by resolution, to eXpend as much mo-
ney as he pleased, eDen the ph0ie cdpit0t OF me
Rank. to buy pYesses-bribe e~ditors-publlsh
pamphlets, &c. Sir, is this true? Or is II false!
The resolution of 30th November, $50, was
founded on a suggestion that an article IN the
Quarterly Reviewo on Banks and currency, writ
ten by Mr.. Gallatin, might be bene6cially circu-
lated. That of 18th March, 1881, that Dement'S
would result from a similar circulation OF other
articles which had issued from the press; andl 1t
authorizes the President OF the Bank TO cause
sto be prepared and circulated, such documents
sand papers as may communicate, to the peo-
sple, information in regard to the nature and
Operations of the Bank"
Nothing is said of buying or bribing presses
nothing Of all the terrific purposes which
haunt the Secretary. The Presidents duty was,
to have prepared and circulated documents and
papers; and their character is defined; they
must relate 10 the nature and operations OF the
Bank. Such a-trust would have been bestowed
by any Board OF any Bank, on the President or
a Committe of Directors, In whom they had
any tolerable share of confidence: and here es-
peclally so, as the expenditures must appear IN
oo,o .rbtah Il " Aocala vi Xy SlOvOit-
ted to the Dividend Committee, on which it so
happened, | believe, that. one of.these mal-con-
tent Directors was. BY this process, the CON-
troll of the Board was complete. How, by any
fair construction, can this resolution be extend
ed beyond the defined object2 How can il be
regarded as placing the whole capital in the
hands of the President? Honest men, in exc
cutting it, would never c%onstrue it thus. They
would be confined to reasonable expenditures
for the specific purpose. And, until saw the UNI
limited power drawn by the Secretary from the
general words of the charter as to the removal
fine deposites. I never imagined that any SEN
sible and correct agent, invested with power on
q given subject, would infer a right 10 so gene
raj a license of motive and action. The con-
s~truction of the Secretary, of this resolution OF
the Board, is a fit companion OF his construc-
ton of the terms of the charter.
This form of resolution Is common IN all
cases where discretion is confded: and there
are other examples in this Bank. l Will not res
fer to that respecting coumterfelters, because IT
seems to be miSconStrued as offensive, and as
creating comparisons which | have no DISPOSE
t;on to make or sanction. But another instance
of the same kind, is found in the resolution au-
thorizino the President to take steps necessary
to nrotect the Western branches from a run
made upon them. The authority in such cases
cannot be restricted by the words OF the resolu-
ton; it is restricted by Its nature ana ooJects,
and by the fidelity of the agent acting under 1t.
What was done under this resolution! Have
Senators looked into the list of publications?
q ,llatn's Essay, fuckers Review, Clarke and
Halls Book, Reports of Committees of Con-
oress. Speeches of mem0ers OF the Senate
CLAW. Webster, and win Bank Documents;
Review of the Veto Message, and of a Sena-
tors Speech; some Addresses TO Legislatures,
and copies of three newspapers, containing a
mart of these and perhaps of some other articles.
These are all that / find in the precious deve-
opponents of these Executive, but not Govern
ment agents. The expense, we are told, indeed,
on Executive authority, amounted to some so,
600 dollars; but there was a slight mistake of
some so 900 in the items, and the addition. The
average expenditure for three and a half years
was a little more than IA 600. And, of the whole,
about one half was for printing and distributing
Congressional reports and speeches, and but
about 1000 for papers containing these essays,
&c. And was it criminal to do this2 Is there
harm i'm circulating the essay of Gallatin, and
that of the accomplished scholar and political
economist. IuCkef9 L WISH. the BANK naQ sent
comics to the Secretary, and that he would have
condescended to have read them, before he acted.
Is there crime in distributing Reports which
Congress had thought it proper to print, By thou
sands, at the expense of the public Treasury, for
The same object, the reformation Of the peopie?-
Is there guilt in publishing any or all these pa
pers?--and those speeches, with the rest, which
Shed lustre upon the Senate itself, and will ele-
vate the respect for American intellect, WHEREBY
er they shall be read throughout the civilized
world? They must have strangely constituted
minds who can complain of this; and must hold
no enviable position, when such documents are
considered by them as offensive to their party
and party purposes. But, sir ! ~recollect that
John Sergeant. as a member of the Board of
Directors, happened to be the person to whom
q proposition was made for printing the Con-
gressional Reports, and that his name is drag
ged in by these Directors, intheir honorable and
manly estimate of what is right in communicate
ing facts for Executive information and action.
Sir, why was this? Was it out of love for fair
dealing, and for the sake of justice and truth?-
Or was il to play upon party and political mas
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