The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-12-07

our active business oil lis incidental advantages We
shall take away from New York part Of the Govern
nent dcposites-but we shall take them away not TO
hurt her. but benefit ourselves not TO bury them in
the earth unproitaby, but 70 make them fountain OF
blessings TO hundreds OF worthy families, TO whom the
credits Of which they would be The Foundation, would
furnish the means oil active and prosperous business
Should the day come, as il seems likely soon TO come,
wbenth system oil direct mpoatons would bear its full
fruit how much should we regret the hasy adoption OF
the proposed SYSTEM We are all alive 10 the great
benefits we should derive, IN pecunlary point Of
view, Ito speak oil nothing else here) from the establish
nent Of Navy Yard in this port, and yet do not
seem to consider that the policy contemplated with
regard to the deposiles might deprive under more
suspicious circumstances OF as much we expect TO
gain from the OF efforts in that or
course, this would be but small matter, if the public
good really required sacrifice Of the kind hands,
but in weighing the many interests involved in the Sub
treasury question, ought not to be entirely forgot
ten.
But after all. this head as well as on that Of ex-
acting the federal dues gold and silver object most
the unnatural divorce Of the governing part Of the
community from the great body Of IT, would have
our Government bone OF our bone and flesh OF our
flesh. would have il feel whatever we feel, that 1t
should know what we ard have right to expect
from il by an immediate aud unerring sympathy. 1t
should suffer from ills in order TO remedy them.
In Of disease distemperature the same blood
should burn in our veins, the pulses throb
temples.
The idea OF distinguishing one part Of the body
polite from the rest, strikes me, repeat IT, unnatu-
raj and shocking II has air of conquest about il,
aud even Of barbarlc conquesti, reminds one Of the
Turk encamped in the provinces Of the Greek Empire
Of Tartar dynasty evylng contributions upon
the subugated Chinese. That does not appear to me
well ordered or even civilized public economy.
which admits Of snch incongrnity To il in all
its deomy, to feel il in all its harsh and odious repnl
siveness, You have only 10 imagine the $4,000 Tor 1907
000 whatever the number may be) Of federal officers
in the Red Book, the Lure dor, hereditary, contem-
plate them for freeholds, like of the
Offices at common aw-wherein would they differ from
those go 900 knights Fees Of VILLAS the Conqueror,
and his Norman horde IL this separation strikes us at
the first view something unnatural and unfit If it
has never, even in times OF greatest pepexty, in
the dark hour Of and reyerses, occurred to any Of
the great to whom the desnes of country have
been committed, or has occurred TO them only
alternative in choice Of evils may safely conclude
that there is something morally wrong it. which needs
TO be excused by extreme necessity Since the foun
dalton of civil society, the right of coming money and
regulating the value OF it, with view TO uniformity in
the currency, has been acknowledged Of the high
prerogalives OF government Under very peculiar
constitution, il true. limitations have been
whether Intentionally not, set TO that prerogaiive,
which do exist elsewhere but if we have poioer
technically called have great influence and au-
thority, which we are bound TO use for the common
benefit. Aud if ,his be found insufficient, after full
experience may easily reform Institutions far
to correct, if it be deemed necessary, the evils
may discover in them. in this particular.
There were various other heads on which it my
purpose TO have touched but want of time puts it of
my power TO do will only add that to the
tody Of the public deposes, the Subtreasuy system,
properly called, does not to have met with any
favor here that OF special deposes in the banks being
universally preferred. glad it is so, for whatever
objections may have to the latter scheme, consider
it innocent in comparison with that recommended by
the Secretary. Mr. GALLATiN, in whose great ability,
enlightened by the most ample experience have the
highest confidence, considers this scheme substan-
tally the that plan ofa National Bank approved
by Gen. jackson, aud rejected with the unanimous
sent Of the country, by the Committee Of WAYS and
Means, of which Mr. M'Duffe was Chairman in 1890
81, Between commercial bank and political bank
OF the United States, nobody appeared then to hesitate
al all Now whatever form these Sub-treasures might
at first assume, have doubt they would grow into
regular banking institution. If it be true, as Mr..
Gaatin afirms, that the fiscal Of the nation
be well conducted only through the agency Of such
institution, the Sub-ireasury would become
Office Of deposite and at length Of discount The
venience and even the necessities Of the Government
would lead it to encroach little by e-and the embar
easements of The domestic exchanges would reconcile
the people to those encroachments Consider what the
Mint once in England. twas, as Burke observes
Of much Importance the then scale of things and
the then order Of business the bank this day 1t
the great Of money transactions and remit
tances for England and the neghboring countries until
CHARLEs among other arbitrary measures, dictated
by despotc necessity, made it withhold the money that
lay there for remittance That blow land happily too
adds BuTke) it recovered. Now, it is exactly
such remittance Shops" that these Sub-treasures,
once established, would probably become Let those
who support the scheme, because they opposed 10
National Bank, ponder well this view Of the SUBJ
ject
On the whole, you have the general views by
which my this equally important and difficult
subject was grounded have only to add that fol-
lowed the best lights Of my understanding, with single
eye to the good Of the country, and that in doing SO,
felt very confident should with the appreciation of
the enlightened constituency which have the honor to
represent.
am, dear sir, with great esteem,
Your friend and humble servant,
HuGH S. LEGARE.
To -----, Esq.
P, s. Iperceve as am closing this letter. that the
editor of the Southern Patriot, thinks it with
my speech He is certainly mistaken ard would find, if