The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-09-15

AhR G0Nernmch@ ssoufsei0enA aiEn. have
great extent. Ihens conducted safely
indeed beear National nor state banks.
by then; myed. being required 70 do
when q keep IL safely while in their
NOR. and lrsnfer and pay il in such
Guns and 81 such times as the treasury
all direcl
Surely banks are mt more able Than
he Government 10 secure the money in
their possession against accident, violence
or fraud. The assertion that they are so,
must assume that . vault in bank is
stronger than q vault in ihe Treasury;
and thai directors. cashiers. and clerks.
not selected BY the Government. nor
under its control. are more worthy Of
confidence than officers selected from The
people andTesponsible 10 The Government:
officers bound BY official oslhs and bonds
for faithful performance Of their duties,
and constantly subject to the supervision
OF Congress.
The difficulties Of transfer. and the aid
heretofore rendered BY banks, have been
less than Is usually supposed The
actual accounts shoa that by lar the larger
portion Of payments is made wlIhin short
or convenient distances from the places
OF collection; and the whole number Of
warrants issued at the Treasury in the
year 1884 year. the results Of which
will, it is believed. afford a safe test for
the fu,ure-lsll short Of five thousand, or
an average of less than one daily 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 an increase
in the chespness and facility Of com
munication; aud it may be asserted with
confidence, that the necessary transfers.
as we'll as the safe keeping and disburse-
menGs 81 the public moneys, can he with
safeiy and convenience accomplished
through the agencies Il treasury officers.
THIS opinion has been. in some degree.
confirmed BY actual experience since tho
djscon,inuanee Of The banks as fiscal a.
goats, in May last; period which, from
The emharIassments in commercial inter
Course. presented obstacles as great as
any li'at may be hereafter apprehended.
The manner of keeping the public mo.
ney since that period, is fully stated IN
flie report Of The Secretary OF the frea-
sury. Tina, officer also suggests the pro-
priety of assigning. bv Law, certain addi-
tinnal duties 90 existing establishments
and officers, which, with the mnjIfca-
lions and safeguards referred 10 by him,
vii, he thinks, enable the department To
Continue 10 perform this branch Of the
public service, without any material sd-
dniun etIher 10 their number or IN the pre-
seat expense. The extent Of the busl-
Re-s TO ne transacted has already been
stated; and in respect Ia the amount Of
mouey with which the officers employed
would be en,grsted al anv one time, i,
appears that, assuming balance Of five
mIl'ons 10 be at all times k"pt in the
Treasury. and the whole Of il left IN the
hands of the collectors sud receivers, the
proportion Of each would not exceed an
average Of thirty thousand dollars; but
that dedactlng one million for the use 81
the mint, end assuming The remaining four
millions TO be in the hands nj one half Oi
the present uumher Of rfficers---a suppn-
sitlon deeoIsd more likely TO correspond
with the fact, the sum IN the hands 81
earh would sui be less ihan the amount
e = al. l. h., ~
receivers of public money. Every az.
~prehensiOn, however, on the subject, 81.
Their in respect TO tn safety Of the motley
or the faithful discharge OF these fiscaI
transactions, may, il appears 10 me, be
effectually removed By adding 10 the pre-
sent means Of the Treasury the establish
ment by law, at few important points
of Offices for the depeslte and disburse
ment OF such portions of the public reve
venue as cannot, with obvious safety and
-convenieoce, be left in the Possession o.
the collecting officers until paid over by
them TO the pubic creditors. Neither the
amounts retained in their hands, nor those
deposited in the offices, would IN any or
binary condition OF the revenue, be largel
in most cases than those often under III,
control Of discussing officers Of The Ar
my aud Navy, and mig hI be made entire
iy sale, by requiring such securities, anc
exercising such controlling supervision
Is Congress may BY law prescribe. The
principal officers, whose appointment;
would become necessary under this plan
taking the larges. number suggested BY
the Secretary Of the Treasury, would no
exceed ten; nor the additional expenses,
al the same estimate, sixty thousand dol
lars year
There can be no doubt Of the obliga-
ton of those who are entrusted with the
r. affairs Of Government, 10 conduct rhcm
with as little cost 10 the Bs,Ier as is con.
sistent With the pubilc interest, and it is
for Congress, and ultimately FIR The peo.