The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-03-24

Tor greater serunlys Was il not intend.
cd thar eaeh exercising separate and in.
dependent will should be check upon
every other! Wa IL not The purpose 81
The law 70 consider each M these four Of.
beers. acting in his proper sphere. not as
. mere ausomalon. but a. an Intellectual.
intelligent. and responsible person. bound
70 observe the lae. and 20 stop the var
rant. or strip The money. II the authority
1 Of the Law were wanungi
Thus slood he Treasury from 1850 TO
1915; during thsi long lime no President
had ever attempted 10 interfere with the
custody Of the public purse. II remains
ed where the Law plsred IL. undislurbed.
and every Chief Magistrate. including
the Father Of his County. respected The
Law.
In 1916 an ACT passed 10 establish the
Bank 81 the United States for the term Of
twenGy years: aud. by The 18th section of
/ The act. il Is enzried - that the deposiles
! 0i The maney III Inc United States in pIa
ces ~ which tho said bank and The
branches thereof nav b. established,
shall be made IN sail bank OF BRANCHES
thrreof, unless The Secretary ofihs Yea
sury sinH At any ume otherwise order
aud hree'; IN shich case. lhe Secretary
IL III Treasury shall Immediately Lay be-
fore Congress. lin sesslun. and. IL not.
Immediately AFTER Inc commencement Of
the next srssIun. ths reasons Of such or.
der nr direction "
Thus IL Is perfectly manifest. from the
!, express s"rds Of The Law. that the pow
sr 10 make any Order or direction for The
remnsil Of the public dePosi.es is conf.
Died ~ The Secretary alone. TO the ALSO.
Lutte exclusion of all the world besides.
Aud the law. proceediag upan The esia
blIsh~d prlaciple that the Secretary Of the
Treasury in all that Concerns The pub
lie purse. acts a. the dnecl agent of Con
Rress. requires. IN the event Of his order.
! Ins or directing a removal ri ~, hspo.
sizes. that he shall immediately lay hls
reasons therefor before whoa! The Pre-.
! silenl! NJ; before Congress.
/. ~ slood The public Treasury and the
! pubic deposiles from the year 1915 tn
September. 1893. 10 all III period of
seventeen years. running through or in>
10 fur several Administrations n The e..
vernmeni. the ias had rs uninterrupted
operation. no Ghirf \. ,slsu,'e hasing
assumed upon h,mself ,ht p'~rt Il dit
verIns the public purse ir m lie awful
custody, or Of substituting n,s All, IL taal
II The nthcer IL whose care aas exclu.
sively entrusted.
IN the srsslan II Congress OF 1923
an ,nquir had bern INSTITUTE by the
! Hsas' 1T Re,rresrnIsu'ts yea ~ c"ud,
uun of the Bank &c the Um,sd States. II
resulted in a canvIcllon Ol H. rntTe safe.
". and decIsra linn by tbs House. made
only SHIRT tine before the ajjoarnmr"s
uf Congress on tue 4,h 0f arch. 1888
that the pubic deposi.es were periec'lf
secure. This declarauon vas prnbsbI,
msdr in consequences Of sasplrions then
shpat Of design an the part oi the tx.
ecuuvs 10 remove the deprl.es. These
suspicious we're denied BY the press
irirnj, IN the Administration. Never
thelrss, The memaers had scarcely reach.
ed their respective himes before mea
sures we're commenced by the Executive
10 rffert rem ,yal of the depa,,iss irnm
that very place of safety which IL was
among the las, acts of the Hrlse 10 de.
clare existed IN the Bank Of the United
States.
In the prosecution Of this design, Mr..
McLane. the Secretary of the Treasury,
who was decidedly opposed 10 such q
measure. was promoted TO the Depart
ment of Stale. and VIZ. Duane was APP
pointei TO succeed him. Blu, Mr.. Du,
ane was equally convinced with his pre-
decessor that he was forbidden by every
consideration of duty TO execute the pow
er with which the law had entrusted the
Secretary Of the Treasury. and refused
to remove the deposi,es; whereupon he
was dismissed from office, new Secre.
tary Of the Treasury was appointed, and,
in September, 1893, by the command OF
The President, the measure was finally
accomplished. That il was the Presi
dents act was never denied, but pro-
claimed, boosted. defended. II fell upon
the country like a thunderboli, agita,ing
the Union from one extremity 10 The 9th
er. The stou,est alherenls Of the Ad-
ADMINISTRATION were alarmed; and all think.
ing men. no. slinded by party prejudice.
beheld in the CT bold and dangerous
exercise Of power; aud no human saga
city can now foresse the tremendous con.
sequences which will ensse. The mea.
sure was adopted not long before the ap.
proachiag session Of Congress; and, az
the concurrence Of both branches might
be necessary to compel a restoration oI
the deposites, the object was 10 take the
chance Of possible division between