Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-04-05

these depositcs have not been transferred
Tbe argument could have no other bearing.
Was not all the money which hes on dc.
nositc in the New York banks collected in
the port of New York Gentlemen 10
NOT believe that this bould have been trans.
ferrcd. Is the Department to be COM
planned of because the public money has
thus accumulated in those banks The
money has been suffered to accumulate,
for there was no authority by law for the
Department TO transfer it, and the greater
part of il has been collected in New York.
Hence arisestlre inequality in the distribution
of the dcpositcs, and not from any action OF
the Executive Department. lie had been
greatly astonisted 10 hear this complaint OF
the gentleman from South Carolina, trcadlnS
so closely on the heels Of the other COM
plaint, that drafts had been unconstitutionally
transferred by the Department. If there
had been no law passed to regulate the
depositcs, was the Executive to be made
responsible for that omission! 1t did not
seom to be just that he should.
twas far from his purpose, coming into
his seat, Us he had done, after this motion
had been made, and not having had an op-
portuniy Of looking over the document, to
enter into IN argument as to the security
or insecurity ofthc public money. He had,
as yet, made up no opinion of his own Oh
the subject, but he might be allowed to say
that he did no; feel so much apprehension
on tbc subject as some gentlemen appeared
to feel. Perhaps he did not feel enough OF
apprehension. But, certainly, whatever the
danger in this case may be, it would not be
ascribed to any fault of the Executive.
Mr.. Calhoun said that the Senator from
New FORK had displayed his usual tact and
ingenuity in the remarks which he had just
made. He (Mr. CO. had stated the ex-
isting evil Us it stands. He had said that
there was fifteen millions of the Peoples
money in the depositebanks of New York,
and that these funds were used without
interest. He did not question the Senator'S 5
patriotism he only appealed to it. The
gentleman, however, had given TO his
remarks totally different turn. AS to
transfer drafts, he would rather the money
should remain where it was, than give to
the Secretary Of the Treasury the power
of issuing them.
The gentleman wishes to know why a
remedy was rot offered before. Did not
he (Mr. c. offer one? Did he not intro.
ducc a bill which would have met and
obviated these evils; and was it not lost in
the other House? AS to any comparison of
his political life with that of the Senator
from New York, he was perfectly willing to
60 into it at any moment when the gentle
man saw fit. He should not shrink from
any comparison which should involve fore.
cast, patriotism, and manly meeting OF
responsibility. The majority in this body
had changed, and in some measure he
rejoiced at it; for the Executive and those
who supported him had now the whole
responsibility.
Mr.. Wright begged to disclaim any thing
like personality Of allusion. 1t would be
vanity indeed in him to put his humble
services in competition with the long and
valuable services of the Senator from
South Carolina. But he had understood
that gentleman as characterizing the great
accumulation Of the deposites in the New
York banks as arobbcry ofhis constituents.
If the bill, Of the last session had passed,
would there have been any alteration in the
present state Of things? He would read
an extract from that bill it ran thus:
THAT the public funds shall not be
removed from the banks in which they are
now, or may hereafter be deposited, without
the consent of Congress, except in cases
where the Secretary Of the Treasury shall,
in his opinion, hare goodcauseto appehend
that the funds are insecure, or where a bank
of deposite shall neglect to comply with
the provisions of this act, or refuse to per.
form the duties, or conform to the con.
ditions or regulations which the Secretary
of the Treasury is hereinafter authorized to
prescribe"
This was the regulation ofthc bill on that
part Of the subjtc Would the situation
of the deposites then have been in any
way altered ifthis bill had passed! Their
distribution, it was true, would have been
regulated by law, which would Lave been
highly proper, but the situation Of them
would have been in no degree changed.
This was the part of the subject in which he
most particularly desired to be understood.
AS to the fault Of the accumulation of the
deposites in New York, it was not in the
Executive Department. The Senator had
asked why some measure ofregulation had
not been proposed? He should have re.
collected that the Secretary ofthe Treasury
had recommended TO Congress the course.
Of action on this subject which he had sup,
posed to be the best.
Mr.. Calhoun said that the Executive had
n fyod majority i'm tho other House ,ye