Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-07
The Senate Sub TREASURY EiH.

The Globe deserves credit for its frankness and plain
ness speaking of the present form OF The Sub Treasury
bill. 1t says that the striking out Of the specie clause
" leaves the bill principle, as It originally stood IN
Septcmber when first reported by the committee. III Is
confined entirely ls safe keeping of the public mo-
new or to the divorce between The Treasury and the
banks The only exception TO this remark is new
amendment offered BY Mr. Webster. requiring tina, the
but not &c fha be reseS mo Us s H I That
is left To the former laws and resolutions OF Congress
construed they always have been by the Executive
the Treasury The U. S Bank, and the Attorney General
that must be specie except where Congress has other
wise directed 10 Treasury notes. or u. ) Bank notes.
and where in the opinion Of the Executive the Trea
sury Department, other medium was safe, and
equivalent 10 specie.
We free TO saw that in regard TO this last Topic
our own views that too much discretion is now con.
fded to the Executive, and that Congress would act
wisely TO further limit and regulate that discretion"
We perfectly agree with it in this opinion, which is
the confirmed by these developments ofihe G"be.
II the Executive cunStrues The resolution Of 1876 It
il il expected To call for specie payment nf the public
dues; then il does become the part Of the Senate to de-
fine better the duties of the Executive Make the reso
luton of lS6, mandatory, not permssive, under ceatan
circumstances Circunscribe as far as possible, the
discretion Of the Secretary of The Treasury.
But after this has been done and Congress have &C.
cared that the receipt Of The public dues shall not be
confined to cash What Them Shall we stop at that ponE
Shall carry the other features of the Sub-Trcn-
sury bill? Shall trust the specie. paying Banks so
far TO take their paper und yet not trust them with
the custody of their own paper, Or shall we erect
Executive pyramid for its preservation We dsclam
snch an idea-But the Cincinnati Republican OF the
30lh ut so clearly and emphalicaiIy expresses our
views upon this subject, that we are happy to spare
readers the repetition Of our own expressions, by
adopting The following extracts from that paper;
1.-The principal objection 10 the bill, amended by The
Senate the increase Of patronage and power which
gives TO the Executive; by authorizing the appointment
Of number of Receivers General, and Sub lreaSufrrs
thus creating class Of holders. which un-
der variety Of pretences will in all probability be IN
creased al minimum. These ofice-olders, will be On.
der the control Of the Executive and subscrvrn to his
will Their creation increases the influence oil the Exc
cutive, already great The otfice-hoding influence
is becoming and more alarming, and instead oil
nugmenng this dangerous influence, 1t should oe The
duty of every friend TO his country, every lndviduai
who chct;shes independence oil speech and action,
to assist in cuailing il. The number Of office. hod-
ers under the General Government has increased
at fearful rate within The last ten years Ano'
Their objection 10 this BILL is the irresponsible charac'
ter of the officers which il proposes 10 create, Tor the
safe keeping of the public money We cannot divest
ourselves of The belief that solvent and sound lncopo-
rated institutions afford safer and more responsible depo-
sitores than individuals. We will not hazard conJec-
ture q. to the ate Of this measure in the House, but we
shod be pleased see these objections removed II they
be- and the bill amended, as 10 do away with The
appointment of Receivers General, and Substitute IN
their place incorporated institutions postories We
care not if the system of Depose should be special
The assertion of the PhcHz to the contrary, we
not opposed 10 system of special Deposes, II by
adopting IT, the currency question can be put 10 resi-
We want to see The question settled"
find so do 1cc-And so we think, ought every unim.
passioned friend to the present Adminstraon-to the
general interests of commerce-o the business and The
peace of the country.