The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-23
THE DIVORCE OF BANK AND STATE, AND
THE EMPLOYMENT OF PERSONAL
AGENTS.

an rHr sxaul ArroNs WINCH CoxsRsss NAY PRE-
SCRIBE RESPECTING THE CUSTODY or THE PUBLIC MO-
NEY, IT 70 pEsIRABLE THAT As LITTLE DisckErioS 40
MAY M pEEnED CONSISTENT WITH THEis SAFE KEEP
one can DO more deeply impressed than am with the
soundness Of the doctrine which resrains and limits
by specific provisions Ereeaise discretion, - Tar a. y
be done consistently with the preser alton o. i's
The public money tis doctrine . peculiarly applicable
Gen Jackson's Message, Doc. 1883
q Individual agents ra probably be found LESS RE
sPoNsIBLk, sApE, CONVENIENT. AND ECONOMICAL, tfhan
banks MIR. Woodbary's Report, Dec 1854
aTnE PROPOSITIONS (the Dvorce') Is DisoRcASiz.
I'VE AND REVOLUTIONARY, suBvERsIvE or the YuNDA-
MENTAL PRINCIPLES QUE eovRRNhENT, AND ov ITs
RsTIRE PRACTICE rRox 1883 DOWN TO THIS DAY"
Ii Is as paipabie the san, that The eject 81 ne
scAems poald BE- 10 bring ne public treasure MUCH
NEARER The actual custody aad control 81 the Free
sdenf' ikaa il 10 aop, aud ExPosE TO BE PLusDEsED
~ HUNDRED HANDS, scher< one cannot nop reach a."
Globe, Nov 20, 1884
HAD sucH 4 SUGGESTION CONS rsox GEs. JACK
SON, scoa hare been r,tng through The Old Domnion
with the reiterated fasehoods about the PROCLAMATION
and the protest. Is conclusive proof of all the aspra
tons which have been charged to the Hero OF Orleans!
:. SEE, (they would say,) HERE HE WISHES TO PUT THE
PgBLic MONEY DIRECTLY INTO THE PALMS or HIS
PRENDs AND PARrizASs, INSTEAD or KEEPING 1T ON
DEPosiTE u BANKS, WHENCE 1T CANNOT BE DRAWN FOR
OTHER THAN PUBLIC PURPOSES, WITHOUT cERTAiN DE-
lection" In such case. should feel that the peo-
pie had just cause for ALARA, and ought 70 gspe their
iraichfni Alterations 10 such an effort 10 EsLARGE
ExEcurIvE POWER, AND PUT IN IRIS HANDS THE MEANS
or coRRurrroN. And these the principles upon
which Mr. Leigh expects to return 10 the Senate from
the land Of Jefferson r.
.Mr Leigh knows that the PREsIDESr HIMSELF Is
OPPOSED irhich he aseribes to his sup
poriers and fhaf has friends Washington Uhefhcr Of
The Cabiaet or MOI, heartily Nth ham IN The
Of policy is erpedieaf TO pursue. Globe
"The country will sustain the Executive arm OF the
government in the experiment now making 70 substitute
the State Institutions Tor the Bank OF the United
States."-Mr. Wright, Jan. 1884.
1.-THE State Banks are found fully adequate to the
performance Of all services which required by the
Bank Of the United States, quite promptly and with
the same cheapness Gen Jacksons Message Of 1884.
BY the use Of the State Banks, which do not de
rive their charters from the general government and
not controlled by its authority, Is ascertaiasd thai the
moneys IF the United States can Be collected and dis
bursed Icifho loss tnc0nreRience and that all the
wants Of the community, in relation to exchange and
currency, supplied well AZ they ever have been
before Message Of Dec. 1885.
1t should DO constantly Iecolected that the owners
and managers OF banks, when properly regulated by
Legislative provisions their charters, are hike other
divduals interested to transact business securely
DESTROYS Of making and not losing money; and that
these circumstances with the preference in Of
failure belonging 70 depostors aud holders Of their bills
over the stockholders, united with the security. if not
OF sai.ty. generally MUCH SUPERIOR TO INDIVIDUAL
AGENTS - THE UNlrED STATEs"--Mr. Woodbury's
Report le24
IS gratifying to reflect, that the credit given by
the government whether to bank paper bank agents,
has been accompanied by smaller losses in the expert
ence under the System Of state hanks this country
fheir aoorst PERIOD sn& xnder their caiames
than any other kind Of credit the government, has ever
given in relation to its pecun,ary
In the same report is stated, that the loss by ONE
merchant had been greater amount than all that had
been lost by the bapks.
1t proven in MIR. Crawfords Report that the losses
to the government by the employment Of corporations
as fiscal agents. have been but 45-lOOths Of per
cent in collecting three hundred and fifty millions Of
general revenue.
BANKS CANNOT BE DISPENSED WITH, EXCEPT At
THE SACRIFICE or ALL JUSTICE IN REGARD TO THE CON-
TRACTS MADE UNDER A MIXED CURRENCY, NOR WITHOUT
VIOLATION or THE FAITH PLEDGED IN THE LEGIsLA-
TON (wHERE HONESTLY oBTAINED) by WHICH THEY
WERE EsTABLIsHED. The SUBJECT MUST LEFT
GRADUAL REFORM, TO WHICH THE PEOPLE THE RE-
sPEoTIvE STATES ARE FULLY ADEQUATE."-Globe.