The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1837-12-23

NOpVnubuC6 On l1e Will Oh TT6SpOnSlDle lIlui-
viduals or corporations; TO withdraw those
monsys from the uses of private trade, and |
confide them to agents constitutionally Sc
lected and controlled by law; 10 abstain from
improper interference with the industry of
the people. and withhould inducements to |
improvident dealings on the part of indi-
viduals; to give stability to the concerns of
the Treasury; to preserve the measures of
the Government from the unavoidable re-
proaches that flow from such connection,
and the banks themselves from the injur- |
Gus effects Of a supposed participation in
the political conflicts of the day, from which
they will otherwise find it difficult TO es-
cape.
These are my views upon this important
subject; formed after careful reflections,
and with no desire but to arrive at what is
most likely to promote the public interest.
They are now, as they were before, submit
ed with unleigned Difference for the opinions
of others. 1t was hardly to be hoped that
changes so important, OH subject so inter-
esting, could be made without producing a
serious diversity of opinion: but so long as
those conflicting views are kept above the
influence of individual or local interests; so
long as they pursue only the general good,
and are discussed with moderation and can
dor, such diversity is benefit, not an inju-
ry. If majority of Congress see the pub
lie welfare in different light, and more es-
pecially il they should be satisfied that the
measure proposed would not be acceptable
to the people; shall look TO their wisdom
10 substitute such as may be more conducive
10 the one, and more satifaetory to the o.
ther. In any event, they may confidently
rely on my hearty cooperation to the full
lest extent, which my views of the Consti-
tuition and my sense of duty will permit.
tits obviously important TO this branch
of the public service, and to the business
and quiet of the country, that the whole
subject should in some way be settled and
regulated by law; and if possible at your
present session, Besides the plans above
referred to, ] am not aware that any one
has been suggested, except that of keeping
the public money in the State Banks in spe-
cial deposite, This plan is, TO some extent,
in accordance with the practice OF the Gov
ernment, and with the present arrangement
of the Treasury Department; which, eX-
cept perhaps, during the operation of the
late deposit act, has always been allowed,
even during the existence of a National
Bank, to make temporary use Of the State
banks, in particular places, for the safe kee-
ping of portions of the revenue. This dis
cretionary power might be continued, il
Congress deem it desirable, whatever gen.
eral system be adopted. So long as the con-
nection is voluntary, we need perhaps an
ticipate few of those difficulties, and little oil
that dependence, on the banks, which must
attend every such connection when com.
in tie nd yhoY, NJ
as to make the banks fixed part of the
machinery of Government.
1t is undoubtedly in the power of Con.
gress so to regulate and guard it as to pre-
vent the public money from being applied
10 the use, or intermingled with the affairs
of individuals. Thus arranged, although il
would not give to the Government that en-.
tire control over its own funds which | de.
sire to secure to it by the plan have pro.
posed, it would, it must be admitted, in {
great degree, accomplish one of the objects
which has recommended that plan to nv
iudgmeAt--the separation ofthe fiscal con-
Germs of the Government from those Of in
dividuals or corporations. With these OBJ
servations, recommend the whole matter
TO your dispassionate reflections; confidently
hoping that some conclusion may be reach.
ed by your deliberations, which, on the one
hand, shall give safety and stability to the
fiscal operations of the Government, and be
consistent, on the other, with the genius O
4 our institut ons, and with the interest:
and wishes of the great mass of our const
4 tuents,
1t was my hope that nothing would oc
= cur to make necessary, on this occasion
= any allusion to the late National Bank
4 There aie circumstances, however, connec
8 ted with the present state of its affairs
a that bear so directly on the character of the
q Government and the welfare of the citizen
" 4hat / should not feel myself excused in
# neglecting to notice them. The charter
which terminated its banking privileges on
the fourth of March, 1886, continued ii:
corporate powers two years more, for the
# sole purpose of closing its affairs, with au,
.4 thority ''to use the corporate name, style
and capacity, for the purpose of suits for Z
final settlement and liquidation, and for the
eale and dispositions of their estate, seal
personal and mixed, but for no other pur.
pose or in any other manner whatsoev.
r."
Let ,afora f,e banL 3n0 rriyiIaras oaaend