The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-08-16
From the Richmond Enquirer.

From the Richmond Enquirer.
The Washington Globe Of The 2lst inst, in ar,i-
Gle headed Divide and Conquer attempts to enforce
the necessity of SO regulating the collection OF the pub
lie revenue Of the Upited States to dispense with
the agency of all banking institutions and TO receive in
its payment gold and silver only 1t copies at large,
with decided appreciation, the amendment offered by Mr.
Gordon to bill pending before the House OF Represen-
taives for the regulation Of the public deposites IN the
State Banks, requiring the payment Of all public dues
in gold and silver and condng the keeping and disburs
ing Of the public revenue to agents Of the Treasury II
has been said that the times strangely out OF joint
and may be said that opinions IN relation 10 public
measures, strangely uncertain and unsteady Bya
to the columns of the Globe will be found,
that when this proposition was submitted to the House
Of Representatives by Mr. Gordon, was most violently
Sssaed by that Journal and among all the members OF
the House friendly to the Administration, obtained the
vote Of but single one--Co Beale Of Virginia The
proposition of Mr. Gordon intended to defeat bill
framed and reported according to the recommendation
OF Gen. Jackson himself his annual Message to Con-
gress, earnestly calling upon Congress to regulate by
law, the deposiies Of the public money IN the State
Banks Now the tone Of the Globe is changed, and
this very policy decidedly repudiaed by itself, and
rejected by the vote Of nearly every friend Of the Ad
mnisraton in Congress, taken into great favor, and
earnestly recommended TO the support OF the Republican
party, as highly expedient and proper.
The Globe says, that this scheme proposed the policy
which President Jackson solcitous to enforce
constitutional principle" viz that the whole re-
and other sources, shall be paid in the coin of the
United States" If this scheme proposed the policy
which General Jackson designed ultimately to effect,
would respectfully enquire, why is he failed to recon-
mend in his messages, and why his friends having tho
majority in Congress did not avail themselves OF the OPP
portunity fairly afforded by Mr. Gordons proposition,
TO adopt ii am well satisfied that the Globe is
mistaken ascrbing this design to General Jackson, as
think will be fully manifest from the Generals own
expressions.
In the paper read by Gen. Jackson to his cabinet in
September, 1888, after reviewing the of the U.
s Bank, and urging the propriety Of removing the de-
poste Of the public from its vaults and the
pedency Of deposite in the State Banks, he says:
"The President thinks that these facts and circum-
stances afford strong guarantee can be had in
human affairs for the safety Of tho public funds, and the
practcabiity Of system Of collection and dis
bursement through the agency Of the State Banks
In his Annual Message to Congress in December
lS3A-more than year afterwards-he says The
attention of Congress earnestly invited TO the regula
ton of the deposes in the State Banks, by law"
In the same Message, he says " Happily it is already
illustrated that the agency Of such institution is not
necessary to the fiscal operations OF the Government
The State Banks found fully adequate TO the per-
Torrance of all services which required Of the
Bank of the U. States, quite promptly and with the
same cheapness. They have maintained themselves,
and discharged all their duties while the Bank Of the
United States still powerful, and in the field
open enemy and is not possible to conceive that they
will find greater difficulties in their operations when that
enemy shall cease to exist"
In his Annual Message to Congress in December,
1885, with the aid of two years experience before him.
he says: :" BY the Of the State Banks, which do
not derive their charters from the General Government
and not controlled by its authority, it is asccrained
that the moneys Of the United States be collected
and dsbursed without loss inconvenience, and that
all the wants OF the community in relation to exchange
and currency, supplied well they ever have
been before" have not the last Annual Message of
Gen. Jackson before me, but feel confident IN the as
sertion, that there is nothing in it in conflict with the
views expressed in the foregoing quotations, with these
views of the capacity, safety and sufhcicncy Of the
State Banks for all the purposes Of depose exchange
and currency and the decided recommendation adopt
them by Legislation the fiscal agents of the Govern
ment. | cannot believe, that the late President de-
signed to make their agency merely temporary until no
prepared procure the adoption Of the scheme
crbed to him Ivy the Globe NV confidence in the
dour and frankness Of Gen Jackson forbids me to be-
leve that he did not mean what is expressed in these
sentiments cannot Believe that he intended to bring
to his aid the excrons of the State Banks by hypo-
critically holding to them the idea that they to
be permanently employed the fiscal agents of the
Government when in truth he designed only to use
them until he had finally secured the destruction Of the
Bank Of the United States, and then turn the power
and influence OF his name and administration to their
destruction His high character forbids the idea and
cannot, will not believe it. The Globe has misap-
pretended him. If what in the present condition of
things, regard the chimerlcal scheme Of combining the
receipts Of the Government to gold and silver could
possibly be effected the result would be, to destroy the
credit Of the State Banks to extent which would
prevent their value agents OF commercial exchange
and mediums Of general currency. That such not
the design of Gen Jackson, is clearly manifest from
the expressed objects Of the Treasury Circular itself
That order confines the demand for specie to receipts
for public lands and simply processes the design Of
checking not destroying bank issues, and suppessng
excessive speculation How then the design attri-
buted by the Globe to Gen Jackson be true when there
rs nothing but the expression Of the most entire conf
dence in the capacity and soundness Of the State
Banks, and a recommendation OF their employment in
all the public papers emanang from him. from the time
of the removal of the public deposes from the Bank of
tho United States to his retirement from Office
If the real opinions Of Gen Jackson to be ascer-
tanned by his own expressions, and know of other
criterion, 1t is perfectly manifest that while he sought
by the employment Of all his constitutional powers to
aid in restoring sound currency he country he nei-
Their expected to be done by the sole of the
Federal Government by the infusion into the
try of exclusive metallic circulation All he sought
expected effect was, to invite the corporation of
the State Governments, with that of the Federal Co.
vernment, in the important work of securing sound
currency to the country, by such reform their bank
ing institutions would reduce the bank and enlarge
the metallic circulation to extent which would
to the country sound currency and protect it against
the destructive consequences OF improper and excessive
bank expansions and contractions with which it had
been afflicted This he expected to do by the gradual
exclusion Of the circulation of small noes-but lest
mistake him, let him speak for himself:
In his Message Of December, 1884, he says: 1.-THE
progress Of our gold coinage is creditable the officers
Of the Government, and promises in short period to
furnish the country with sound and portable currency
which will much diminish the Inconvenience to travel
les Of the want Of general paper currency should the
State Banks be incapable of furnishing IT, Those in
sttutons have already shown themselves competent to
purchase and furnish domestic exchange for tho con-
venence Of trade reasonable rates, and not doubt
10 entertained that in short period all the OF the
country in bank accommodations and exchange will be
supplied promptly and cheaply they have hereto
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