Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-12-06

: IRON iands also, have, since the Il neral .uspes
800 oil specie pa, usais BY the dspesi,e b,ht
eeen kept aud d,soorssd by the Treasurer. us
der his general legal powers, subject TO the %
perinisndsnee Of the Sscretar, ofthe Trossur,
me proPt'ety Of defining more specifically, an
OF regulating by law. the exeTcise Of this " 10
, scope of Executive discretion, has been slre I'D
) submitted to Cousre..
change an the oliec or collector at one o
our principal potts, has brought TO hight defal
cation OF tho grasest character, the psrticulsr
OF which will b, Laid before you in a special re
port from the Secretary Of the Treasury. q,
hisreport and the accompany ing docume nt., i
, wi!i be- seen that the weekly eturns OF the de
fsuitirs officer apparently exhibited, through bout
faithful standardization OF the affairs entru,te,
TO his management. IL, however. now sppe ar
that he commenced sbsirsctinx the pubic mo
neys shortly after his appointment. and eontin
"ed 10 do 30. progressi,sly inere ssiBg the n
mouni. Toe the term Of mosc than seven year.
embracing portion Of the period during which
TIE rnoiie moneys were deposited ia the Bank oi
The United States, the whole Of that OF the State
osnk opposite system, and concluding only or
his retirement FROM Office, sfl-r that =, stem had
substantially failed, ia consequence Of tho sus-
pension Of specie payments.
The way IA which ihis dedication was so Ions
concealed. aud the steps taken To indie unif, tic
t"ued states, ~ lar as Practicable, against
loss, will also be presented To yotI. The case -
one which imPersti'ely Gains tae attention of
Congress. and Furnishes the stronger motive for
The establishment OF more severe and secure
system, Tor the safekeepius end disbursement nj Of
Tie public moneys tia any that has he retofore
existed.
I u seems proper, at al, eyents. that, by an car
" enaetnarnt, similar TO that Of other counties
The application Of public money BY an officer Of
Government to private uses should be made /,
felony, and visited wiih severe and ixnominiou,
punishment. This II already. in eject. the Law
~ respect 10 the mint, and has be. "a productive
Of the most salutsry results. Whatever ,,,,.m
i adopted, such an enactment would TO wise a.
an independent measure. since much OF The pub
lac moneys must Ia their collection and ultimate
disbursement, pass twice through the hands Of
pubic ofnccrs, IN whatever manner they are IN
termediste'y kept The Government IL must
he admitted, has been from IL, commenc &C m. nj
comparatively fortunate in this respect Bu.
Tic appointing power cannot alwsys be well
( advised ia it, selections, aud the experience of
every country has shown that public officers are
not at oil times proof against temptation. u ~
n duty, therefore. which the Government owc,
- well TO the Interests committed TO its care n
to the officers themselves, 20 provide every guard
against trausgress ious Of this character that j..
consistent with reason and humanity. Congress.
cannot be too jealous Of the conduct OF those
who are entrusted with the public mouey ard I
,hali at all times be disposed 10 encourage q
watchful discharge Of this duty. la more di-
rect cooperation on ihe part OF Congress- in
the supervision Of the conduct OF the officer,
ontru,ted with the custody and application Of
IN. public mooey il deemed desirable IL will
give me pleasure 10 assist IN the establishment
OF any ludciou. and constitutional riau b,
which that object mny be accomplished You
VIII IN YOUR wisdom, determine upon the pro-
pretty ofsdoptins such plan. and upon the nea.
sure necessary TO its eliectual execution when
the late Bank of the United Stsie. wa, i~c9rpo-
rated, md made the depository Of The public
moneys, right was reserved 10 Congress 20 in
sPect, At IFS pleasure, by committee OF th at
body. the books and the proceedings Of the bark
In one of the states whose banking instiiu-
tons are supposed TO ratk amongst tie Grst IN
point Of stability. they ore subjected to constant
examination BY commissioner. appointed for
that purpose, and much OF the success " Il.
banking system - attributed TO this wa:chful
supervision. The same course has also. in view
Of IFS benehcisi operation, been adopted bs an
sdJoinins State, fayorabiy known for the care il
has always bestowed upon, whatever relates TO
its hnancial concerns. ! submit 10 YOUR consid.
GRAFTON whether n committee Of Congre.. might
not he probably employed in inspecting. At
such intervals as might he deemed proper, the
/ affairs and accounts Of officers entrusted with
the custody OF the public moneys The frequent
performance Of this duty might DC made obiira-
tory on the committee IN respect TO those off,
GERS who have large sums in their posse..ion,
aud left Discretionary in respect 10 others -
They might report TO the Executive such de fall
cations a. were found To oxi.t, with n view 10 a
prompt removal from Office unless the default
was satisfactorily accounted for: and report.
also to Congress, at the commencement Of
each session. the result Of thrir examinations
and proceedings. IL Toe. appear to mr. that.
with a suhjection OF this class Of public officers
TO the general supervision OF the Executive, TO
examinations by a committee Of Congress az
periods Of which they should have no previous
notice, and 10 prosecution ard pur i-bmtn TT a.
for felony for every breach Of trust. the safe
keeping ofthe public moneys. under The system
proposed. nigh, be placed on a sufer foundation
than II has ever occupied siGco tie establish
meRt Of the Government
The Secretary Of the Treasury viii lay be-
fore YOU additional information Containing new
details on thIs interesting ,ubjeeL To these
ak your early attention. That II should have
gwen rise Ia great diversity of opiRion cannot
be subject ~ surprise. AfIcr the collection
and custody OF tic public moneys had been for
~ many years connected witt, aud made su6si-
diary to. the advancement Of private INTEREST,",
return 10 tie simple and selfden, ing ordinsn-
ces OF the Consultation could not but br difficult
But line aui free discussion eiiciiing the senti-
inenis OF the people. ard aided by tist roncilis-
tory 'pirt which has ever characterized 'bs.r
course on great emergencies were relied upon
for n sati.faetory settlement Of tie question. -
Already has this sntic patton on one important
point at Iras,-ihs improPrie,y of 6iVert'ng
public money 20 private PurPcsts-been fully
realized. There - no reason 20 suppose thst
leg station upon that branch Of the subject ould
now BE- ombafrsssed by difference Of opinion
or III 20 receive the cordial support of ia-se
maj ritz Of our commitments. The connection
which formerly existed between tie Govern nent
aud bank, was m reality Injurious 20 both, -
well ~ tp The general Interests Of tie commu-
niy at large. u aggravated the disasters of
trade and The arrangements Of commercial u-
te-conr.e and sdministered new excifement
and additional means 20 wid and reckless spec
pl't'ons. the di.apPoiuinents Of which threw
tie eountfy ia:o coHtuisions Of panic. and all
. bat pfudurcJ violsB~e and bloo1sEsd. The i'm
pruient eNpansion q bank credits, which was
she nstprai result ~ the rom msud ~ the rrte-
nass lte state. Furnished the resoureos Tor
nnho inded license IN every species of aSssniars.
ssdu-ei industry from its regular aud saiuiary
oeC gats iu- by ihe hope Of abuod4nfe without
lsrur. all defanged tie soci5l state by Tempting