Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-12-13

foundation and safeguard of republican
poyernment-would be exposed by any
further increase Of the already over
grown influence Of corporate author.-
ties. l cannot, therefore, consistently
with nv views 0 rduty, advise a renewal
of n connection which circumstances
have dissolved. :
The disconlinuance Of the use OF
State banks for fiscal purposes ought
not to be regarded as n measure OF
hostility towards those institutions
Banks, properly established and con-
Quoted, are highly useful to the business
of the country, and will doubtless con-
tinue to exist in the States, so long as
they conform to their laws, and are
found to be safe and beneficial. How
they should be created, what privileges
they should enjoy, under what respon-
sibilities they should act, and to what
restrictions they should be subject, are
questions which, us | observed on a
previous occasion, belong to tho States
to decide. Upon their rights, or the
exercise OF them, the General Govern
ment can have no motive to e~ncroach.
Its duty toward them is we'll performed,
when it refrains from legislating for
their special benefit, because such le-
gislation would violate the spirit of the
Constitution, and be unjust to other
interests ; when it takes no stops to
impair their usefulness, but 50 manages
It's own affairs as to make it the inter-
est of those institutions TO strengthen
aud improve their condition for the
security and welfare Of the community
at large. They have no right to insist
on a connection with the Federal Go
vernment, o on the Use of the public
money for their own benefit. The
object Of the measure under considera-
ton is, to avoid for the future a com
pulsory connection of this kind. 1t
proposes to place the General Govern.
Elant, in regard to the essential points
Of the collection, safe keeping, and
tr1nsfer Of the public money, in IL stu
alton which shall relieve it from all
dependence on the will oil irresponsible
individuals Or corporations; TO with
draw those moneys from the uses OF
private trade, and confde them TO
agents cons.itutionally selected 81 con-
trol!ea by law TO abstain from impro-
per interference with the industry of
the people, and withhold inducements
10 improyiient dealings ON the part of
i74lv!inals; 10 give stability to the
concerns Of the Treasury to preserve
the measures Of the Government from
the unavoidable geprOaches that flow
from such a connection, and the banks
thems lives from the injurious effects Of
a supposed participation in the political
conflicts of the day, from which they
viii find it otherwise difficult to escape.
These are my views upon this i'm
portani subject formed after careful
reflection, and with no desire but to
arrive At what is mos, likely to promote
the public interest. They are nov, as
they were before, Submitted with I'M
f,icreI Difference for the opinion of
others. Ii was hardly to be hoped that
changes 81 important on "a subject So
interesting, could be made without pro-
ducicg Il serious diversity OF opinion
but SO long as those conflicting views
are kept above the influence of indiyi-
dual or local interests !; 50 long as they
pursue only the general good, and are
discussed with moderation and candor,
such diversity is a benefit not an injury.
Ifa majority ofCongress see the public
welfare in a different light and more
especially if they shoald be satisfied
that the measure proposed would not be
acceptable to the people ; | shall look
to their wisdom to substitute such as
may be more conducive to the one,
and more satisfactory to the other. In
any event, they may confidently rely
on my hearty corporation to the
fullest extent, which my views Of the
Constitution and my sense of duty VIII
permit.
1t is obviously important to this
branch Of the public service, and to the
business and quiet of the country, that
the whole subject should in some way
be settled and regulated by law ; and
if possible, at your present session.
Besides the plans above referred to, |
am not aware thai any n has been
suggested, except that of keeping the
public money in the State banks in
special deposite. This plan is, to some
extent, in accordance with the practice
of the Government, and with the pre-
sent arrangement of the Treasury De-
partment ; which, except, perhaps, du-
ring the operation Of the late deposite
act, has always been allowed, even
during the existence of a National
Bank, to make a temporary use of the
State Banks, in particular places, for
the safe keeping Of portions Of the rev
enue. This Discretionary power might
be continued, if Congress deem it desi-