The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-26

THINGS cHARITys--Angusfn a
THE DIVORCE OF BANK AND STATE, AND
THE EMPLOYMENT OF PERSONAL
AGENTS.
AIN rHE REGULATIONS WHICH CosoREss NAY paE-
scs,BE RESPECTING THE cusroDy ov THE PUBLIC MO-
sgY IT ID DESIRABLE THAT As LITTLE DISCRETION 40
ING SHOULD BE GIVEN TO ExEcuTIvE AGENTS. No
one can be more deeply impressed than with the
soundness OF the doctrine which restrsns and limits,
by specific provisions Erscufoe discretion, far as it
can be done consistently with the preser alton Of It's
constitutional character In respect tothe coniro
the pa5ie money, this doctrine peculiarly applicable"
F---Gen Jackson's Message, Dec 1885
aIndividual agents rii probably Be found LESS RE-
sPosslpLE sArE, cosyEMENr, AND EcosonicAL,' tthan
banks Mr. Woodbury's Report, Dec. 1854
TITS PROPOSITION 0he I" Divorcer) is pIsoRoASIz-
\ ING AND REvoLUrioSAEY, suBysRsIvs on THE yUsDA-
MENTAL PRlEoiPLEs or our GOVERNMENT, AND or ITs
EsrIRE PRACTICE, vRox 1850 DOWN TO THIS DAY"
IN is as paipabk as the sun, that the effect II the
scheme ponH be 10 bring the public treasure MUCH
NEARER The actual custody and control Of the Pre-
sidenf ihas is aotc, and EXPOSE DE PLuNDEsEp
ny HUNDRED HANDS, iphere cannot notc reach IT,"
Globe, Nov. 20, 1884
"HAD SUCH SUGGESTION COME FROM GEs. JACK
SON. tcouH hare been rung through the Old dominion
with the reiterated alsehoods about the proclamation
and the protest. conclusive proof Of all the ssplra
tons which have been charged to the Hero OF Orleans
SEE, (they would say,) HERE HE WISHES TO PUT THE
PUBLIC MONEY DiREcrLY lEro THE PALMS OF HIS
FRIENDS AND PARrizANs, INSTEAD OF KEEPING IT ON
DEPosirE IN BANKS, wHENcE rr CANNOT De DRAWS FOR
OTHER THAN PUBLIC PURPOSES, WITHOUT CERTAIN DE
LECTION" In such case we should ieel that the peo-
pie had just cause for ALARh and oagM 10 giue hsT
icaichfu attention 10 such an effort 10 ENLARGE
EXECUTIVE POWER, AND PUT IN IT'S HANDS THE MEANS
or coRRuprloN. And are these the principles upon
which Mr. Leigh expects to return 10 the Senate from
the land Of Jefferson z $500
"Mr Leigh knows that the PREsIDENr HIMSELF IS
THE PRoJEcr which he ascri6es 10 has sup
porers and that his friends Washington, tohsther Of
he Cabinet or nor, heartily oith hm IN the
course of policy IL Is erpediem to pursue Globe.
"The country will sustain the Executive arm Of the
government in the experiment now making to substitute
the State Institutions Tor the Bank OF the United
States."--Mr. Wright, Jan. 1884.
"The State Banks are found fully adequate TO the
performance OF all services which required by the
Bank OF the United States, quite promptly and with
the same cheapness Gen Jackson's Message OF 1884
" BY the use Of the Stale Banks, which do not do
rive their charters from the general government and are
not controlled by its authority Is entertained that me
moneys Of he United Siaies be collected and d,s
bursed ,ohoi loss or Inconvenience, and that all the
wants of the community, in relation to exchange and
currency, are supplied well they ever have been
before. message Of Dec. 1888.
!" II should be constantly Iecoected that the owners
and managers Of banks, when properly regulated by
diyduals interested transact business securely are
DESTROYS of making aud not losing money and that
these circumstances with the preference IN case OF
failure belonging deposors and holders OF their bills
over the stockholders united with the security. il not
priority given 10 the government render them. in point
Of safety, generally MUCH SUPERIOR TO INDIVIDUAL
AGENTS or TmE UNITED SrATEs9-Mr Woodburys
Report, 1884
81" is gratifying to reflect, that the credit given by
the government whether to bank paper or bank agents.
..mltz- s.,t ko
ence under the system Of hanks in this country at
er ,oors. period and mnder hc sererssi calamifies,
than any other kind Of credit the government has ever
given in relation TO its pecuniary transactions lib
In the same report it is stated that the loss by ONE
merchant had been greater in amount than all that had
been lost by the banks.
II is proven in Mr. Crawfords Report, that the losses
to the by the employment Of corporations
as fiscal agents, have been but 45l00ths Of one per
cent in collecting three hundred and fifty millions Of
general revenue.
BANKS CANNOT DISPENSED WITH, EXCEPT AT
THE SACRIFICE OF ALL JUSTICE IN REGARD TO THE con-
TRACTS MADE UNDER NIKE CURRENCY, NOR WITHOUT
VIOLATION or The FAITH PLEDGED IN THE LEeIsLA
TON (wBERE HONESTLY oBrAINED) by WHICH THEY
WERE EsTABLIsHED. The SUBJECT MUST BE LEFT TO
GRADUAL REFORM TO WHICH THE People or THE RE
sPEcTIyE STATES ARE FULLY ADEQUATE -Globe
"The deposites OF the public money will enable you
to afford increased facilities commerce and extend
your Accommodations to individuals AND AS THE DU-
TIES WHICH ARE PAYABLE TO THE GOVERNMENT ARISE
FROM THE BUSINESS AND ENTERPRIsI OF THE MER-
CHANTS ENGAGEp IN FOREIGN TRADE, IT is BUT REA-
Z. sosABLE THAT they SHOULD PREFERRED in the adj
ditiona accommodation, which the public depostes will
enable your institution 10 give wherever i can without
injustice to the claims Of other classes of the commu-
nifty
Mr. Taney's letter 10 he Girard Bank, Sept 20,
1888. m ga., B f.e til ta
.
The poor ghost Of the defunct Bank OF the