The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1837-08-22
THE TREASURY BANK.

MI ,,ossoge of President Jackson of 1872, sub
lining far the consideration of Congress the eXpe
dioncy ofconslituiing National Bank founded uPo"
the credit and the revenues OF the GoVerpiheh''
was IN the House of Representatives referred 10 '"o
Committee of Ways and Means, composed OF ma
ority of the friends of the administration 60 OK
trnordinary proposition, however, could not pul
awaken the apprehension Of the committee 10 the
danger of Executive power In Their report uPo"
this part Of the message they say
"The Bank of the United States now employs
five hundred agents in various parts Oh lho
where It's Offices ale established from 'his i'et
some idea NAV be formed OF the very great addition
which would be made TO the patronage oil the EX-
ecutivo Government by the establishment OF snch
n Bank as the one under consideration. Out
the patronage resulting from me appointment
the annual appointment OF these agents, great Us
would doubtless bo, would be insignificant ana
harmless, when compared to that when wouo
result from the dispensation of Bank Accommodations
TO the standing amount OF at least lilly millions OF
dollars The mind almost insnctively shrlnks
from the contemplation of an idea so ominous OF inc
purity of the government, and the liberties o. tbe
DeopLe No Government OF which tho committee
have any knowledge, except, perhaps, the desPo-
tism of Russia was ever invested with patronage
at once so prodgous in its influence, and so dan-
gerous IN its character. La the most desperate
financial extremites, no other European uoVerh-
ment has ever ventured upon an experiment 80 per-
ilous. 1.-THE achole patronage Of Tic Engksh Mon
arch aocye concentrated in Tie hands Of the american
Executives IL mag he aoeU doubted aohether the PabLac
liberty soOuld be so endangered W. u, as - 0oW@ cy
This east pecun.ary lachine aohich aoould ptace in
the hands of every administrator JJty millions OF
dollars, AS A FUNB FOR REwAKDING POLITICAL PAR
TIsANs."
The Committee of the Senate, to whom was re-
terred the same subject, say
"The inevitable consequence of creating a
Treasury Bankl would be the creation of moneyed
| Of i,ac done
Government, at variance with the whole scheme OF
our Institutions"
How far these apprehensions were justly founded,
may be seen in part from the following documents,
elected during the examination of r.. M. Whitney !:
From the instructions Of the Treasury Department to
the Dcp0Site Banks.
"The deposites of the public money will enable
you to afford increased facilities to tho commercial
and other classes of the community, and the depart
nent anticipates from you the adoption Of such
course respecting your aCcomodattons as Will prove
acceptable to the people and safe to the Govern
ment.'
Letter from the Opposite Bank at Burlington: asking
| more Deposites, dated-Jan. %, 1886.
"Being located in the same place where branch
of the United States Bank was established, and be-
ing deposite' Bank, when the Branch has discou-
tnued their operations the public seem to expect
that we would at afford the same facilities and
accommodations that they enjoyed when the branch
was doing business. There has been on the part of
Directors desire 10 meet this expectation, and
the consequence has been that gerry sensible change
has taken place POLITICALLY IN FAVOR OF THE Gov
ERNMENT.
Other evidence exists, showing beyond tha~nas
sibillty of doubt, that III puolic deposites, the
money ortie people, has been extensively and sue
cessfnlly employed by the administration for polh
cal purposes since its removal within the control of
the Executive. But if, by the aid of the imperfect
system of the Deposite Banks, Executive patronage
has been obviously increased, and an influence
has been brought to bear upon elections by
means of the of the country, thus illegally
placed within tho control of the Executive, what
evils may not be justly apprehended from Bank
interviewer with the machinery of theGovernment,
with capital vast the nations revenues, whose
officers are dependent upon Executive appointment,
and "removeable at his will and whose opera
tons are legally subjected to Executive control
Let the people awake in time the danger that
threatens them, and before the monster shall have
coiled upon them and secured them in his folds, let
them speak through the ballot box in accents loud,
clear and united in NOTES which cannot be mistaken
at ashington-carrying conviction to our misguid-
ed administration that WE WILL BE FREE.
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For THE CALEDoNIAN.
One DZain ONestiOn tn 7pbich ,J;rect nm e,ror