Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-04-29
Hsici,mend, EEiesay, AprEi ESD.
TIE SERPLES EEFE.NLE.

TIE SURPLUS HEFENJE.
A Rrpor, by MIR. Woodbury.: in 'Fply to rfsoc
l,,:ion Of Tie Senate which called fl the aincnEt o.!
,.c surplus in III. Treasury. tir Banks where DC.
noajlrd the extent Of ri5 liH!itirS aiI their means
OF; ,nrc.ihg them: was submitted To mat no"y on
The 18th inst The nInount al money IN The lIelsury
IN the j., inst is estimated ut 81 i"'.l'' Ib 1h's oil
course is exclusive Of any deduction, for The outstanding
anoropriaons which have -rr"dy been iade-anu inncn
more of I!ms heavy nPpr"rra!inis "hich are inF"Ten
IN the seven hundred and seventy "ii'S now pending Dc
fore Conrrcss TO which hir. wright "l Vow or" re-
r.-an.j TO the two items which lie states To be hHo"A
IN be hrrc s Scnar the large amount Of about seven
millions more VIVA! :rSc two items ARE, OF course: we
nrr not even permitted 10 "nc<S
MIR Woodbury. further states. IN his Report, the
Liabilities of all these banks al that time, to be
about .l SEQ p9 &c. ami thc im,qcd"tc mso"s II mr. IN
d;scaaypr l:sc liabilities, 10 ne about Nicoc2C'J ~
such means being in the ratio ct abunt one 10 TWO ara
ha Of those liabilities And further that their whole
liabilities other than TO their stockhodrrS Tor capai,
are about Slt G1 20 -, and their 'Thoc means q CT
RI kind to dlscl:rgc them, about Sli6'6.2l0 ~,
or ore nf means 10 less than tEee.ourlsis OF those
liabilities - j. may br property added III connection
with this exhibit, That the security Of Tic Treasury IN re-
lulor to tho dcpuSes IN those banks depends Eot only
IN their inrrr means compared with thci: liabilities to
the Government and Others except their stockholders,
bl on the cO|dtGra security which, as stated IN my last
annual rpor has been given ln.thr Treasury IN most
cases where the dr7osltcs are large, compared Win the
CT pal of the bank
Thr Who's IN and ont Of Congress, are attempting To
yaisr Pnuic this subject. Their object is to 'art!e
the public mnd ls about tn" security 81 tiIc dePoSitcs
ID tic immense influence which they may give to the
Executive over the Banks and through them over the
money and markets of the country. We TO not the
mischief which has vet hrcn inflicted the iWmtdiac
dangers which threaten Where has one cent OF tho
public money yet been lost; Or, where has the ESccu
live abused It's influence over the DcpoScs: we
are prrparcd however I" say, That it is the duty OF eve
~ free people to hedge in The power Of their Govern
nrnt by all the necessary rrsrictlnns and to guard
il against all abuse. Hence conceive 1t 10 he tho
first and most sacred iuy of Congress. to pnss
la~ 10 regulate IKE public d"pnslcs in The most CT
frc,ual n,a,nrr--to liz up the hands af the Execu
tive rs we'll Of the Drp"slc Banks themselves
By the strongest possible restrictions. We all know tina!
this duty has been trCc urged by ;ic PRESIDENT himself
and the necessary a for his purpose NOS earnestly re-
commended. The present Congress ousa not TO al.
journ without passing a:id he ought 10 IL considered
rs reachcos steward 10 the people, who docs ct insist
upon lis aG:rl:on 10 see, therefore, that the public
money is SAFE: and 10 guard against lis waste and abuse.
is the first duty which ConIr-ss owes TO the country.
The next QGcstion is, Irhni manner is the Surplus
in the Treasury 10 be cm!nycd? II seems to u.s. that
Congress has power to distribute the surplus, or ever
that portion Of II which CONSISTS OF the proceeds OF the
puJc lands, among the several Stars-nnt 10 speak Of
the various objections which may arise the of
expcdcncy. We objec, likewise to MIR. Grundys rail-!
road sysrm-r ii seems 90 on calculated, rs the Tu
gar saying is, TO chip The DcrH round the stumpto car
~ on iaIirLctiy what Congress has right To do d
rrclly in the way Of Internal Improvement We OBJ
nc therefore, both to the Distribution scheme. and the
Rnl.r road scIcmc-and We cannot ccncur with tc able
Editor of The Louisville Advertiser that even If Mr..
GIundy scheme dcS!gnG rs substitute for the
q,acrican Systcr and the land Bill Of Mr.. Clay"
FIR this reason could "hru-iHy nprroyc it," here
objections to bJh and cnnnol, consequently, anpo"r
Ilc one substitute Tor Tie other Wiia. then would
substitute:
Our yr0ju would be this Substitute D,jcnre for Dis
i,iiuiio;t. 10 the utmost capacity OF The system. The
Reports Of The Secretaries n Var ami Tie Nary in
ply to M! Bcnlnns call, will show hos many millions
can be advaa!ag"0usy expended on the Defence OF The
counlry-i,s Navy Army Qualifications, Munitions, and
materials Of all SORTS lie this FIST considerations
But, told, thai after making all proper pro-
visions for permanent system OF naval and military de-
rncr. &c. we shall still have considerable rcsduun 10
dispose of? Some lay supply Of from Ii to 20 mil
lions, at Me end Of The yrnr low shall he employed:
lst Why, il the French Government Should pledge
tselflo the execution 81 TIC treaty and pny up The in
s,aImcnis now due, may not anticipate on proper
terms ;Ic instruments perhaps about 3nuns, hereafter
due? We have occasionally anticipated th" redemption
Of our stocks. Why may not pay up the &C
cruing nsalmcnts Of tic French dcht--nnd t. this
relieve the Overlooking uddcr Of Treasury, for
the benefit of our special Claimants, and Of the comu
nifty al large,
3D. We have not seen Mr. Wrigh,s Sprrcl-and arc,
of COURSE at loss 20 understand his estimate III the
pending apprn,riaons-, less ct his two mystcri
Gus items Of seven millions before the SENATE But
presume, these "ariUus tilt tap the Treasury smart
~ enough.
But in the 81 place. after the deductions which should
be made, suppose still large Surplus lct-thcn We
respectfully but firmly propose reduction Of the
Duties. This compromise about tie Tariff has
such lerrorS for We protested uganSt it, at the
time, if il calculated des gned to bar the Go.
rcrnnent from any further attempt to relieve the
People from an odious TariiT.-Wc parties
to any such operation of scheme which was con-
ccctcd between Mcss-s. Calhoun and Cay-to relieve
tie one from the dangers nj his Notification and to
assist the other in making his apology IT, tie protcgcs Of
his Tariff system. We deem it L clear and essential
principle oil free governments, that all the money which
has been raised upon the People should be wei! Ia
ken care Of, nndhat not cent more should be taken
from their pockets than the wants of tic government in
dispcnsably require. We 90 upon this rule; and there
fore we hold ls that the Opposite money in the Banks
should be carefully and strictly regulated by a~-and
2dly that if the present Tariff is higher than necessity re-
CURES, it should be reduccd-Fst, expunging dimi
nsng the duties upon such articles, least interfere
with the spirit of the Tariff comproisc-(so far
willing to go but if these articles do not amount 10 the
necessary rate of reduction then to reduce upon the
others. Let the reduction begin 10 operate soon
possbc-and il less should be raised IN The next twelve
months than is wanting take portion of the surplus
out Of the Treasury, TO supply the deficiency; and
50 Why, may not the Secretary o! the IrcaSu
ry be called upon to report, what is likely 10 he ras-
ed on the present duties, and The public 7rdstrn,
what articles will best admit OF the rcduclion-and spc
Giving what such and such articles will mise at such
and SUCH in this manner without exercising
powers which not intended to be conferred by The
Cnnsttuon-wiih0ut turning ths Government into
broker stock obber-wthout keeping the Treasury
So full that i, may he calculated 10 enlarge the powers
Of the Exccutivc-ur tempting Congress TO engage in
wild and improper schercS-we reduce the plethora of
the Treasury b. taking 0u for public drencrs,
&C. and putting ess in; by lowering tariff, unit, in r
course oftwo years adjust income 10 e1penscs
do away all ml.cris, dangers, OF Panics-takc out Of
The people pockets not cert more than Is wanting fnr
the necessary and legitimate wants Of the Government;
and put end thai phenomenon, which is unprccc
denied in The history Of modern timcs-of nalion not
only free from debt, but possessed Of more money than
it knows y hat tn do with.
Wcdnesfay, Globe ro las: Report Of the Secretary
s7ade on the OBI h .t "hor wiz. in N" D.Po,c
Baaksl OF all kns their liabilities to the Treasury
over fur ua. tl, liabilities Of all kinds
,L,IfLn