Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-12-15

course has also, in view Of its beneficial opera.
tion been adopted by adjoining State. vorably
known for the il has always bestowed upon
whatever relates 10 its financial concerns. sab
init to your consideration, whether . committee Of
Congress might not be probably employed in in
speeding. 1t such intervals might be deemed |
proper the affairs and accounts of officers cntrus-
ted with the public moneys The frequent, per-
formance of this duty. might be made obligatory
on the committee in respect to those officers who
have large in their possession, and left dis
cre;ionary in respect 10 others. Thew might re-
port TO the Executive such defalcations as were
found To exist, with view 4 prompt removal |
from office unless the default satisfactorily ac-
counted for; and report also 10 Congress, at the
commencement of each session, the result Of their
examinations and proceedings. Ii does appear to
me that, With subsection OF this class OF public
officers, to the general supervision Of the Exeeu-
tive, To examinations by committee OF Congress
at periods of which they should have prev ous
notice, and to prosecution and punishment. as for
felony. for every breach of trust. the safe keep
ing of the public moneys, under the system pro-
posed, might be placed on a surer foundation than
it has ever occupied, since the establishment OF
the Cove rnment.
The Secretary of the Treasury will Law before
YOU additional Information, containing new details
on this interesting subject To these, l ask your
early attention. That it should have given rise
to great diversity Of opinion, cannot be subject
Of surprise. After the collection and custody Of
the public moneys had been for many yeats
connected with, and made subsidiary to, tho ad-
vancement of private interests, a return to the
simple and selfdenying ordinances of the consti-
tuition. could not he difficult. But time and free
discussion eciitng the sentiments of the people,
and aided by that conciiatory spirit which has
ever characterised their course great emergcn-
cies were relied upon for a satisfactory settlement
of the question. Already has this anticipa ton on
one important point At least-the improperly Of
diverting public money to private use-been full
Nv realized. There is no reason to suppose that
legislation upon that branch of tho subject, would
now be embarrassed by difference of opinion, or
fail to receive the support Of 4 large mn oriy Of
constituents. The connection which formerly
existed between the Government and the banks
was IN reality injurious TO both, as well as the
general interests of the community at large. 1t
aggravated the disasters of trade and the derange-
men,s of commercial intercourse, and administer
ed new excitement and additional means, to wild
and reckless speculations, the disappointments of
which, threw the country into commissions Of panic
and all but produced violence and bloodsbcd.-
The imprudent expansion Of hank credits, which
was the natural result of the command of the
revenues of the State, furnished the for
unbounded license in every species OF adventure,
seduced industry from its regular and sautary &C.
equations, by the hope Of abundance without la
bor and deranged the social state, by tempting all
trades and professions into the vortex of specula
ton remote contingencies
the resources Of the Government, cur,ailcd it's
useful opera lions, embarrassed tho fulflme mt Of
its obligations, and seriously intcrfercd with the
execution of the laws. Large appropriations and
oppressi. c taxes are the natural consequences oil
such connection. since they increase The profits
of those who allowed to use the public fu nds
4 and make ii their interest that money should bt
h accumulated and expenditures multiplied. J, Il
9 thus that concentrated money power is tempt
II ed to become an active agent in political affairs
n and al! past experience has shown which sid
nns9es M be a5rnysa evee d De assd
G sertng and supporting the rights of the commu
nifty at large, IN opposition TO the claims Of II,
C few.
J. In Government whose distinguishing char
acteristc should be diffusion and eq ua!i ton q
IF It's benefits aud burdens, tho adv tagc of ind
a. viduas will be augmented at the expense of III
Of mass of the people. Nor is The nature Of con
ri hinatons for the acquisition of the Legislative
e. huencc. tn coniine their interference The singi
pc object for which they were originally formed
g The temptation to extend II to other matters, il
I'll on the contrary. not nnirequentlv too strong
n. be resisted. The influence, in the direction
n public affairs of the community ai.iarge is Their
lv FORE ia no slight danger of being sensibiy and il
o. Inrio usly Effected by giving to comparai e
of small, but very efficient class, n direct and
oil elusive personal interest in important a DO
ed ton of the Legislation Of Congress that whit
of relates 10 the custody Of the public moneys.
hg laws aching upon private interests cannot aiwa
IS be avoided, they should be confined within Il
he narrowest limits, and left wherever possible,
the Legislatures of the States. When not tn
ne restricted, they lead to combinations Of power
he associations, foster influence necessarily s
So, fish, and turn the fair course of legislation
ne, sinister ends, rather than to objects that advan
on- public liberty, and promote the general good.
he 1t will moi, am sure, be deemed out Of pla
EN- for NE here remark, that the declaration of
ub- views IN opposition to the policy Of employi
ed banks as repositories Of the Government fun
en- cannot be justly construed as indicative Of hos
APP lty. oc ial or personal, to those institutions
oy- to repeat. in this form, and in connection W
nv, this subject, opinions which have uniformly
sh ,ertained, ond on all proper occasions express
re- Though always opposed to their creation, in
the form of exclusive privileges, and a State Z
OPP gistratc. aiming by appropriate legislation to
de- cure the community against the consequences
on their occasional mismanagemeni, have yet e
mt, wished To see them protected in the cxercis,
l. IN rights conferred by law, and have never doub
apf. their utility, when properly manag ed, prom
cen the interests oftrade, and through that ch
ate mel, the other interests of the community.
mot the General Government they present tho
the selves merely State institutions, having
'ub- necessary connection with its legislation or
mp administration. Like other State ESTABLISHING