Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-12-14
No. B.


The security and welfare Of the community
a'hrsc: Ihey have no right 10 insist on a
connection with the Federal Government.
nor on The use Of the public money for their
own benefit. The object of the measure un-
der consideration is, TO avoid for the futual a
compulsory connection of this kind II bro
poses 10 place the General Government. in
regard 10 the essential points of the collec-
lion, sale keeping and transfer OF the public
money, in situation which shall relieve il
from all dependence on the iii OF irrespon-
sioie individuals or corporations; TO with.
draw those moneys from the uses Of private
Trade, and coniIde them 10 agents constitutions
ally selected and controlled by law TO alb.
stain from improper interference with the
INDUSTRY OF The people, and withhold induces
mehts TO lmprov Ident dealings on The part of
incViduais; TO give stability TO the concerns
OF The treasury To preserve the measures of
| the Government from the unavoidable re-
proaches that flow from such a connection.
ana The banks themselves from the injurious
ehects OF supposed participation in The no
iiiical conflicts Of the day, from which they
Will otherwise find il Difficult, 10 escape.
ihesc are my views upon this important
subject: formed after careful reflection. and
with no desire but 10 arrive of what is most
likely 10 promote the public interest. They
are now, as they were before, submitted with
unieiSned Difference for the opinions Of others.
II was hardly 10 be hoped that changes so
important, en- subject so interesting could
be made without producing serious diver
SHY OF opinion but SO long as those coniiic-
ing views are kept above fhe influence of
individual or local interests; so long as thew
pursue only the general good, and are dis.
cussed with moderation and candor. sncb di
versiIy is "a benefit, no; an injury Hama
Jnlliy oil congress see the public welfare IN a.
different light; and more especially If thew
should he satisfied that the measure proposed
would not he acceptable 10 the peopie I
shall look 10 their wisdom 10 substitute encb
as may he more conducive 10 The one. aud
more satisfactory 80 The other. In any e.
vent, they may con fdenly rely on my hear
ty cooperation 10 the fullest extent which
my views OF The constitution and my sense of
duty will permit
III isooviously important 10 this branch Of
The public service, aud TO the business and
9u'et oi ths Country, that the W hole subject
should In some way he settled and regulated
ny law and, II possible, at your present SEES
sion. Besides the plans above referred 10.
am mol aware that any one has been suggest
ea' except that oi keeping the public money
plan is, to some extent, in accordance win
The practice OF the Government. and with
| The present arrangement of the Treasury
department; which, except, perhaus. dur.
ing The operation Of The late deposite ac, las
| always been allowed, even durin, The exis-
lence OIL n aiIona! Bank 10 make temporo-
~ use OF the Slate banks, in particular pla
cess LOT the sale Keeping of portions of the
revenue. This discretionary newer Mol,
be continued, if Congress deem il desiraSIe
whatever general system may be adep,ed'
80 long as the connection is voluntary. we
heeu perhaps anticipate few of those diffic,n
iles, anu little OF that dependence on The
oanks, which must attend every such com
hec'ion when compulsory in its nature. and
wben SO arranged as TO make the banksR
IAeo part OF The machinery Of Government
ubaSGOlealy IN the power OF Congress
so 10 regulate and guard il as 10 prevent the
public money from being applied 10 The nse
| or intermiDgled with the affairs, Of indiyid>
uais thus arranged, although il would not
give 10 The Government that entire control
over lis own funds which desire 10 secure
10 II by The plan have proposed, il wouId
II must be admitted, in great degree. nc,
complish one OF the objects which has res
cohlhenueo That plan TO my judgment-lhe
separation OIL The iscai concerns of the Gov
ernnent from those of Individuals or corpo-
ratIons. With these observations recon-.
mend the whole matter 10 your dispassior.atc
! reflection confidently hoping that some CON
cluslon may be reached By your deljbera-
! lions, which, on the one hand, shall give safe
~ and stability 10 the fiscal operations of tho
government, and be consistent, on tbe other.
with the genius Of our institutions. and with
The interests and wishes of the great tnass a
our constituents.
IL was my hope that noiling would occur
10 make necessary, on this occasion. any al
! fusion TO the late National Bank. There
are circumstances, how ever, Connected with
The present state Of lis affairs thai bear an Iii.
rectly on the character of The Government
and the welfare of the citizen, that I shonld
moi feel myself excused in nscIectipp TO ro-
lice them. The charter which Terminated
ne banking privileges on the fourth ofNarch.
1856, continued IFS corporate powers ta1
years more, for the sole purpose of closinr
IT'S affairs, with authority 'Io Use the corpoT1
ale name, style and capacity. for The pu;posa
OF suits Ior hnai settlement end liuuidaliou
oil The affairs end acts Of the corpn.aijon. and
Tor Vie sale and disposition Of their estate.
real, personal and mixed, but Tor no other
purpose or In airy other manner whslsoevsr ,,
Just before the banking privileges ceased
us cIecis were transferred by the hank IN n
new State institution then recently incorno-
Taied, IN trust, for The discharge OF - debts
and the settlement of its affairs. Will This
trustee, by authority of Congress. an adjust.
ment was subsequently made OF the large
interest which the Government had IN lie
STOCK OF ibe institution. Tie manner in
which trust UNEXPECTEDLY created upon tho
aCt granting the charter, and involving such
great public Interests, has been executed,
woulO, under any Circumstances, be III sub
JrCl oil inquiry but much more does il de-
/ serve your attention, when il embraces the
| redemption ofoblgaions 10 which the aus
thoriiy and credit Of the United States have
Irriv I'D lie {pvp