The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-16
THE DIVORCE OF BANK AND STATE, AND
THE EMPLOYMENT OF Personal
AGENTS.

aIs THE REGULATIONS WHICH CoN0ktss MAY FEE
SCRIBE RESPECTING THE CUSTODY oF THE PUBLIC MO-
WY IT IL pEsIR ABLE THAT As LITTLE DISCRETION As
NV aK DKkasp CONSISTENT WITH THEIR sAFE KEEP
No s.ou.p BE GIVEN TO EXECUTIVE AGENTS NO
one can be more deeply impressed than am win inc
,oundness OF the doctrine, which resrsins and limits
by specc provisions Erecuhee discretion as lar Us
can be done consistently with the preser' alton o. s
cons,tutiona character In respect 10 the control oper
the pubic moaey, this doetiae IS peculiarly applicable
Gen Jackson's Message, Dec. 1888.
individual agents triH pro6dbty be found LESS RE
spoysrBLg, sAFs CONVENIENT, AND ECONOMICAL than
banks MIR WooIbury's Report, Dec 1884
The PROPOSITION (the "Divorce') is pIsonoANi1-
ING AND REVOLUTIONARY, SUBMISSIVE or THE fuSpA-
MENTAL PRINCIPLES OF OUR GOVERNMENT AND os IFS
ENTIRE PRACTICE. FROM 1883 DOWN TO THIS DAY
IN is as paipabie as The sun, that the eject 81 the
scheme ,roa.d be 10 briag the pubic treasure MUCH
NEARER The actual custody and control q me RE
sden than IL Is noto and EXPOSE 1T TO DE PLuNpIaEp
BY HUNDRED HANDS chers one cannon noio ifaca -
Globe, Nov. 20, 1884
Hap SUCH A SUGGESTION COME FROM ZEN. JACK
SON teouM hare been raag through the Od dominion
with the reiterated asehoods about the proclamation
and the protest. conclusive proof OF all the asplra
tons which have been charged to the Hero Of Orleans
SGE (they would say,) HERE HE WISHES TO PUT THE
PUBLIC MONEY DiREcrLY INTO THE PALMS OF HIS
FRIENDS AND PARTizANs, INSTEAD or KEEPING IT ON
pgposITE IN BANKS, wHEScE 1T CANNOT BE DRAWN FoR
OTHER THAN PUBLic PURPOSES, WITHOUT CERTAIN DE-
LECTION" In such we should feel that the peo
pie had Just cause for ALARM and ought 10 gtoe their
most ,caiehfA attention 10 such an effort 10 ENLARGE
ExEcuTyg POWER, AND PUT IN IT'S HANDS THE MEANS
OF CORRUPTION. And are these the principles upon
which Mr. Leigh expects to return to the Senate from
Tie land Of Jefferson =
"Mr Leigh knows that the PREsIDENr HIMSELF Is
OPPOSED TO THE PROJECT wheh he aseribes 10 has sup
poriers and lat has friends Washington Uhether Of
The Cabinet or nor, heartily pnh him ~ The
course Of policy IL IS erpedieM 10 pursue. Globe,
The country will sustain the Executive of the
government in the experiment now making to substitute
the Stale Institutions for the Bank Of the United
States"-Mr Wright, Jan. 1884.
THE State Banks are found fully adequate to the
performance Of all services which were 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
their charters from the general government and are
controlled by its authority ascerfained thai me
moneys Of The United STATES be collected and DIS
bused oithont loss Inconvenience, and that all the
wants of the community, in relation to exchange and
currency, are supplied well as they ever have been
before Message Of Dec 1885.
1T should be constantly Iecolected that the owners
and managers Of banks, when properly regulated BY
legislative provisions in their charters are, like other in
dvIduals interested to transact business securely
DESTROYS Of making and not losing money; and that
these circumstances with the preference in Of
failure belonging TO deposors and holders Of their bills
the stockholders united with the security. if not
priority given to the government render them in point
of safety, generally MUCH SUPERIOR TO INDIVIDUAL
AGENTS or THE UNITED STArEs"-Mr Woodbury's
Report, 1884. ..
it is gratifying to reflect that the credit given by
the government whether bank paper bank agents,
has been accompanied by smaller losses in the expert
under the system Of hanks in this country at
Mr tnorst period and under their secerest cdiamies,
than any other kind Of credit the government has
gwen in relation to its pecuniary transactions ID
In the report, it is stated that the loss by
merchant had been greater in than all that had
been lost by the banks.
1t proven in Mr. Crawfords Report that the losses
to the government by the employment Of corporations
fiscal agents, have been but 45-l0)ths 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 THE con-
TRACTS MADE UNDER MIXED CURRENCY, NOR WITHOUT
VIOLATION OF THE FAITH PLEDGED IN THE LEGIsLA-
TON (wHERE HONESTLY oBTAINED) ny WHICH THEY
WE'RE ESTABLISHED. THE SUBJECT MUST BE LEFT
GRADUAL REFORM, TO WHICH THE PEOPLE OF THE RE-
sFEcTIvE STATES ARE FULLY DEoUATE"-Gobe.