Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1837-09-15


people, and responsible TO the Government
officers bound by official oatbs and bonds fol
faithful performance OF their duties, and
constantly subject 10 the supervision Of Con
gress.
The difficulties Of transfer, and the ait
heretofore rendered by banks, have been les:
than is usually supposed The actual &C
counts show that by far the larger portion o
payments is made within short or conYen
lent distances from the places of collection
and the whole number Of warrants issued a
the Treasury in the year lS34-a year the
result Of which will, it is believed, afford Q
safe test for the future--fell short of five
thousand, or an average Of less than one dai
ly for each State. In the city Of New York
they did not average more than Two day
and at the city of Washington, only four.
The difficulties heretofore existing are
moreover, daily lessened by ap increase in
the cheapness and facility Of communlca-
ton; and il may be asserted, with conf
dence, that the necessary transfers, as well
as The safe keeping and disbursements Of
The public moneys, can be with safety and
convenience accomplished through the agen-
cies of Treasury officers. This opinion
has BEEN in some degree, confirmed by &C.
iual experience, since the discontinuance OF
the banks as fiscal agents, in May last; a
Period which, from the embarrassments in
commercial intercourse, presented obstacles
rs great as any that may be hereafter ap-
pretended.
The manner OF keeping the public mon
ey, since that period is fully stated in the
report of the Secretary Of the Treasury
That officer also suggests the propriety OF
assigning, by law, certain additional duties
10 existing establishments and officers, which,
with the notifications and safeguards refer
red to by him, will, he thinks, enable the
Departmental continue 10 perform this branch
of the public service, without any material
addition either to their number or 10 the
present expense. The extent Of the busl-
ness 10 be transacted has already been stat
ed and, in respect TO The amount of money
with which the officers employed would be
intrusted at any one time, it appears that
assuming balance OF five millions TO be at
all times kept in the Treasury, and the whole
of it left in the hands of the collectors and
receivers, the proportion Of each would not
exceed an average of thirty thousand dol
lars; but that, deducting one million for the
use of the Mint and assuming the remain
ing four millions TO be in the hands OF one
half of the present number of officers-a
supposition deemed more likely to cores
pond with the fact-the SUN in the hands
of each would still be less than the amount
Of most Of the bonds now taken from the
receivers Of public money. Every appre-
hension, however, on the subject, either in
respect to the safety of the money, or the
faithful discharge of these fiscal transac-
tons, may, it appears TO me, be effectually
removed by adding to the present means Of
the Treasury, the establishment by law, at a
few important points, OF officers for the de-
posite and disbursement of such portions Of
the public revenue as cannot. with obvious
safety and convenience, be left in the posses
sion of the collecting officers until paid over
by them to the public creditors. Neither
the amounts retained in their hands, nor
those deposited in the Offices, would, in any
ordinary condition of the revenue, be larger
in most cases. than those often under the
control Of discussing officers of the army
and navy, and might be made entirely safe,
by requiring such securities and exercising
such controlling supervision as Congress
may by law prescribe. The principal Of
ficers whose appointments would become
necessary under this plan, taking The largest
number suggested by the Secretary OF the
Treasury, would not exceed ten, nor the adj
diiional expense at the same estimate, sixty
thousand dollars year.
There can be no doubt of the obligation
of those who are inlrusted with the affairs
nj n3.saf To Al 1t
little cost to the nation as is consistent with
the public interest; and it is for Congress-
and ultimately for the people, to decide
whether the benefits to be derived from keep
ing our fiscal concerns apart, and severing
the connexion which has hitherto existed
between the Government and banks, offer
sufficient advantages to justify the necessary
expenses. If the object to be accomplished
is deemed important to the future welfare of
the country, cannot allow myself to be-
lieve that the addition to the public ex-
penditure OF comparatively so small an
amount as will be necessary to effect it, will
be objected to by the people.
1t will be seen by the report of the Post
master General, herewith communicated
that the fiscal affairs Of that department
have been successfully conducted, since Nav
last upon the principles of dealing only in
the legal currency OF the Uaiied States; and
that It needs no Legislation to maintain its
credit and facilitate the management of its
concerns the existing laws being, in the
opinion Of that officer ample for those OBJ
Jects
Difficulties will doubtless be encountered
for season, and increased services requir-
I'd trnrn iha nnhlic functinnaries suc q ro