The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-02


House OF Representatives in support OF his proposition,
and which no friend OF the president conlroyercd as
appears from the report.
II was said to be the opinion OF the president (said
Mr. Gordonl that Il was extremely desirable the
Of the u States should be collected in specic and
no, in paper and in connection with which opinion tho
House had heard new name applied to specie il had
been called Jackson money He now called upon all
who in favor Of Jackson money! 10 20 toiih him
in support Of The old fashioned constitutional notion Of
hard money Government"
Now, is it not singular, that if the presi-
dent at that time entertained the policy Of i" a
hard MONEY government" but one Of his great
majority Of friends in the House of Repre-
senlatiyes could be found voting in favor OF il |!
1NAAs thas>Qo friend Of the president con-
sfoVsHak she aStement made by Mr.. Gordon;
but. as we faye Nhown by extracts from it,
,.fh&f& globe eokHoo&ted the plan Of Mr. Cor
dom, aR9 yitkninAilar force and ability.
IRfhe Gloltg Of the 18th in the first num-
Der on "rspIy y Camillus," find the fol-
the y r s' Ss' sass" "sh Sssr
ers Of Europe England and France-keep their urea
suries independent Of banks Gen. Hamilton himself
proposed the plan Of establishing offices in the different
states, places of deposte aud disbursement before
his darling idea OF aNatona Bank and the corrupt
funding system took possession Of his mind We have
noticed MIR Gordons proposition not To give him Dor
rowed plnmage, but as an esioppel to that portion Of
the opposition who, having espoused It, would
denounce 1t as dangerous TO liberty, because adopted by
the Democracy"
II is not without deep surprise, that | find
the Globe referring to the enlightened powers
of Europe" for n precedent for the enlightened
Government of the United States to follow, in
conducting the fiscal affairs of the Nation.
The English and French nations do indeed
keep their Treasures independent Of
banks" These systems were adopted CO.
evally with the commencement of the Govern
ment of each Of those kingdoms. Why were
they adopted Why have they been con-
tinued ever since? Both have arisen from
the necessities of the case. In neither of those
countries have the same facilities ever exist
ed of banks established in every place, where
the convenience of the Government requires
agents to collect and dsburse the public reve-
nue.; which are presented through their agency
in ours. Those nations have, from necessity,
been obliged to continue their original plans
without reform, in this age of Improvements,
with all the corrupt,OnS which they introduce
and maintain. But were it otherwise, ii must
be manifest that system which would an
swer well in each of those kingdoms, the ter
ritories of either of which are limited to an
extent not twice that of number of our single
states, would not answer; and could not be
adopted and carried into successful operation
in a territory, so widely extended as our
Republic. The Globe perhaps is not aware,
that in France, all the Offices of Sub-rreasu-
ries are farmed out, and that system of cor
rupfion and speculation is practised to an alarm
ing extent, and almost under the view Of the
Government Can the Globe desire to see
such system introduced into the fiscal affairs
of the United States As limited as the king
dom of France is, upwards of one hundred
thousand men are employed at this time In the
collection and disbursement of its revenues,
under the system which now prevails there;
and which, according to The Globe, is the en-
Hghtened one of one Of the most enlightened Go
pernmentS Of Europe. And why did Gen.
Hamilton propose the " establishing Of Offices
in the different States or places Of deposite
and disbursement 1t was, because, at the
time he made the proposition, there were not
established in the United States more than
two banks, The necessity Of the case led to
his making the proposition. 1t was for the
same reasons, that the States in which no
bank was established, kept the moneys be-
longing to the State i'll the hands of their own
officers. Such was the case until very re-
Gently, with the State of Missouri but no
sooner was bank established and put in ope-
ration, than the moneys Of the State We're de-
posted in it for safe keeping and disburse-
ment This, however, | state on information
upon which rely.
1t would appear by its own showing that
the plan which the Globe claims as having
suggested before Gen. Gordon, is equally n
borrowed pumage" as that of the General.
In regard to the position now assumed by the
Globe as reason for noticing Gen. Gordon's
should think the violence with
which it assailed that proposition, as made
manifest in the extracts which have given
from its editorials, should operate much more
powerful upon itself "aS an estoppcl' to its
hoU advocating the same scheme, than upon
/" Mat portion Of tie Opposition uho hauing
once cspoused IL, wouM now dcnounce IL as
DANGEROUS TO LIBERTY"
Most OF the objections urged by :" Camillus"
against the Sub-treasury scheme are backed
by the quotations from the Globe. Certainly,
those OF the most vital importance to the ma
ton, such as, The public money uiH be IN
Safc"-"H urtuaiiy SurrenderS the PURSE 10
ihe Erecntiue"-"H uiH enlarge the patronage
of tie Fedcrol Government"
The only apology which | can conceive
that the Globe can urge for abandoning its
doctrines Of S34, and advocating those which
now fill its columns, is in the suspension of
specie payments by the Banks: A measure
forced upon them by the unparalleled revul
sions, which have taken place in almost every
country in Christendom during the year. The
same thing occurred in this country on
a former occasion, and while State Banks
were employed as repositories of the public
moneys; aud vet there was not anything at
II. LIZ