Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-08-16
From the National ralslligsaesr.

II is reported, and generally believed,
that the Hon. Mr.. Wright, Senator of
the United States from the State Of NJ
York, is the anihor of a series Of Es-
says lately published in the 81. Law
renee Republican, touching the times.
In the last number of that paper, the
projct Of the writer is disclosed in the
following terms:
What, then, can Congress do T.
We answer, try the yet untrled expe-
dent. Produce a perfect and entire
separation between the finances OF the
nation and all the banks Of issue, or
discount, however, or by what author.
ity existing between the national trea.
sury and those artificial creations Of le.
gislation upon which we have so unfor.
tunately attempted to depend. We
have tried the faith Of these soulless ex-
istences, in all their forms Of being,
and that faith has always failed US in
the hour oil utmost need. Now let US
try the faith Of natural persons, Of mo-
raj, accountable agents, of freemen.
Let Congress trust tie safe keeping oil
the public treasure with citizens, as
such, and not as bank corporators, with
men responsible to Itself, and not to a
moneyed institution"
So /! 1t is as we feared: If the ad-
minstartion be strong enough in Con-
gress, we are to have, in lieu of tried
systems, good and bad, a legion of pub.
iic officers to receive, keep, and pay
over the public moneys-that is, if they
do not, as Opposite banks have done,
and as we apprehend they would be
much more tempted to, perform the two
first of these functions, and let the last
OF them alone.
As we have heretofore had occasion
to observe, the expensiyeness of this
system is far from being the greatest
OF the objections to it; though the ex-
Pense would not be less, probably in
all its qualifications, than half a million
dollars year. We shall not now en-.
ter into discussion of the various
heads of objection to this scheme
The weather IS too warm for US to
write, or for our readers to digest, solid
argument. We shall therefore content
ourselves with general protest against
the plan which i, is apprehended is a.
bout to be proposed by the Executive
to Congress Because,
/. 1t is an untried scheme, in favor
OF which hardly any thing can be allie
ged but that it is untried; which, (far
from being reason for preferring it
to the resort to National Bank, which
has been tried and found to be every
thing desired for the convenience, eco.
nomy and even the emolument of the |
treasury is itself decisive objection
10 it.
Z. 1t proposes retrogression in the
march OF Improvement an entire re.
nunclation of all the advantages of ex-
perlence, and willul disregard of the |
lessons she has taught us, concerning
he custody of the public treasures |
from the reign Of julius Caesar down
10 that of Andrew Jackson.
3. 1t proposes, without any sort of
necessity, and upon a mere pretence of
'xpedency, to swell the Executive pa.
ronage, by creating from one to two |
offices, with liberal salaries, |
wherewith the President of the United
States will be enabled to reward unsa.
listed expectants, and hold out tempta.
lions to future political knages and de,
a. There is no security that this lie.
gou of Office holders will be at all more
trustworthy than the Deposte Banks
which have stopped payment with the
public money in their vaults. There
is every reason, in fact, to presume the
contrary.
5. Suppose, however, that under the
frame ofso clumsy machine the money
affairs of the Government could BIO ma.
naged for time, it yet presents no pos
sible hope of relief to the People from
the paralysis under which the country
now labofs, from the great inequality
OF exchanges, and from the confusion
and variety of rag money in the every
day market.