Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-01-08

would find tina. the precise inornaon which c desired
was contained IN the report from the department. In
that Document the Secretary, says
"Aier the charter shall expire difficulty is antici-
pated IN having any Of these duties which may then re-
main; discharged by State Banks But any should oc
cur 1t VIII become necessary TO devolvc these duties
some responsible collector already in office
OF ON some state agent not now III Office, has been the
practice for years III this country in paying pensions at
convenient places, near which there State Bank
o. branch Of the United States Bank as has long
oecte usage IN countries of Europe by having the
pubic revenue in certain districts chiefly received Kept
and transmitted through private agents and brokers'
tbs knd Of personal 0gtncu ho,eerer is ia The o,a f
Me taderSghcG be 0roidcd an alt practicable and sfc
cases. adr present system Of selected BdakS because
'c0~d render he system Tess conrcnicnt less secure and
mere eomp'eh, y not more GPcnStec Hence It has
yet been reS0rtod TO.
"Bnt it was considered proper mention this con,in.
gency IN order that its effects if anticipated may
beforehand be duly weighed in the examination of the
whole subjects and to add, that if this contingency be
extended To the whole establishment of State Banks rs
wen as OF the United States Bank, the responsibility
that they all TO exist may refuse to receive
and manage the public dcpcsites however improbable
the occurrence OF such event bel fiscal one
rations of the Government could undo ubedly still pro-
coed, through the personal agencies before mentioned
1t Is admitted however, that it would be at some incou
venience, and increase of expense unless rend
ed IN manner that may hereafter be developed and
would not in the opinion of this department and in the
present condition of things be eligible system as the
present Because Banks, though exposed TO some
dangers and evils and though believed be neccssa-
~ Tor the fiscal purposes of any Government and much
less OF one IN the present happy financial situation
ours are frankly acknowledged be- many respects
1t would be seen by these extracts that the Secretary
had responded directly and fully that portion of the
resolution upon which gentlemen DESTROYS of re-
ceving information. In the bill reported by the Com
mittce of Ways and Means, provision is made i'm the
event of the failure of the Banks to answer the
purposes contemplated, for the s1f-kccpng and dis
bursemcnt of the public moneys The adoption of the
resolution was therefore wholly unnecessary if net i'm
proper, the proposed call upon the Department for
plan which IT has not recommended, might have ten
dency to delay the action of House upon the bill re-
ported by the Committee of Ways and Means, which
Guun fVpnn 81,
lie was not disposed into discussion of
the constitutional question: which had nooted by the
gentleman from Georgia, (Nr Clyton but &c was pre-
pared to prove. when the bill to which he had referred
should come up, that the keeping and discussing &c the
pubic moneys, under the present system was as safe
ana convenient as any plan which had been heretofore
adopted Mr. r. concluded by declaring that he did not
rise for the purpose of throwing any obstacles in the
way OF ue passage OF the resolution; but supposing it
possible that amid the lumber the tables of members
the Report of the Secretary of the Treasury from which
he had read extracts had been overlooked he had touh
proper TO refer to it, in order show that all the mate
RAJ information sought by the resolution already in
the possession of the House
Mr. Fillmore regretted the existence of this csntro
versy al the present time lie believed the members of
the House were already in possession of all the information
not usual moreover Mr. f. said for this House TO cali
upon Department for a opinionnor did he think
IL conported with its dignity do So The opinion had
oecn advanced from sources which he had been accus-
toned to respect that the employment by the govern
ent OIL corporation, was equivalent TO the creation of
sucn corporate body From this opinion he felt bound
to dissent lie could proprety in the ARGUMENT
Did 1t follow that because the government cmplovc rail
roads, steam boats, owned by chartered companics S
Tor purposes of transportation Government possessed
the power to create those companies Certainly not
The Government held the power TO create n n,vy I'M,
IL did not follow that it could legally employ The ycs.
sells OF companies for all necessary purposes He touobt
there was amost Papabe distinction between the power
TO create and to employ lie concluded by SAYING he had
not contendcd that Congress had the power to
banking instutions-but he objected to the reasons
urged III support of that position He was disposed TO
oPPysc Ile rcSoiutoil as essentially unnecessary.
Mr. Ewing said if the Secretary the Treasury nos
sessed the power to act on this subject he reason
Tor ue interference OF Congress. He did bclevc that
the system which had been adopted had or would prove
successful lie referred TO the agency which had been
assigned TO the Receivers of public moneys as part of
The system adopted by the Department. and denied the
uhty an lie believed that Congress
alone had the right establish and regulate tho
rles of the public moneys He not the advocate of the
Bank OF the u s. 1t was known the world that he had
proposed distinct Prod this subject upon which he
desired tic action OF Congress He would. therefore
move to amend the resolution by proposing in lieu there
OF that select committee of one member from each
state be appointed for the purpose of inqung into the
expectancy OF adopting plan which he had presented
at the last session for the establishment of an institution
Tor the management of the fiscal of the 90
Mr. McKim moved TO lay the resolution on the table
lie suggested that the House already in possession
| OF all the information required.
On this question Mr. Gamble called for the yeas and
nays.
Mr. s. Jones regretted that the resolution had been
Drought forward at this time, and hoped his colleague
would Withdraw it, 1T would lead TO no beneficial re.
suits, and calculated renew the discussion of
last session The information sought could be of no ser
vice, and If it could it would be found substantially in
the supplemental report ofthe Secretary of the Treasury
ut he rose not much TO oppose the resolution as IL
notice some observations which had been made bv those
supporting It, His colleague seemed to suppose that Il
we could employ the State Banks fiscal agents we ne
ceSsariy had tho right Bank for that purpose
lie could not conceive by what process of reasoning his
colleague had brought himselfto that conclusion TI,e
state Banks had been created by the laws the differ
ent States IN the exercise of their riphtul and consu
uonai powers Congress had nothing do with and
could not judge of the constuonality Of those nsu.
tohS we Ind them III existence and the only question
Tor US to determine in regard them is whether we
WIN use them as fiscal agents for the collection and dis
pursenent OF the revenue of the United States IL is
distinct from the question: whether will create Bank
10 act as sca agent and Is entirely unconnectcd with
and Independent of it, The Secretary of the Treosurv
Is the fiscal officer of the United States and with lin
rests the discretion and responsibility of pacn the nh
lie money in what depository he plcases CoiOrcss has
the power direct in what places il shall be deposed
and upon what terms and conditions but in the absence
oil all law npon this subject the Secretary of the ren
! suTy must exercise his discretion and act u,or
his own responsibility. And he would assure his col
league that he would at any time Join him in LIMITING tho
dscreon OF that officer in passing law which shall point
out where the public money shall be deposited and t,e
terms and conditions which the deposites shall be
made. And, sir, both the gentlemen mir Clnvton onf
Mr. EWING TO have fallen into another misiakc
they contend that by tho establishment of State Bank,
an attempt has been made by the States TO reeulae The
currency and we arc told this belongs Congress- anf
not 10 Tie states Never there greater error Com
gress mas the right 10 coin money and regulate the vanc
thereof So far then, from the Banks regulating the chr
rency the value and currency of bank notes are rc
guated by the value of the coin For if any bank docs