Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-11-27

For TIE E.TQCIRER.
Having rhewn that the independent Treasury bill will
neither Increase the power or patronage 0. the Execu
tive lnure the Stale banks, proceed TO dis.
pose o the hrd and last objection viz that the public
will be less secure III the hands Of individuals
than IN the banks aud That It will he less expensive 10
select The banks dishursing agents. than individuals
We frankly admit that the FIST branch Of this objection
has presented 10 lutte difficulty 10 our minds When
look 10 The past see that IN both Instances the
Government has been the Ioser-wc mean, by Stale
banks and public collectors Ne have not before do.
cuasns show precisely, how the stands but If
memory serves correctly, think. that have
lost much by the banks than by individuals. The
Republican party divided upon this question: where
sa.l the pubic funds Ur deposited? Ninelenhs of the
Republican members OF Congress, were in favor Of the
nGrpenden. Treasury Gill passed by the Senate. The
other tenth divided into Two parties, the favor
ing The cid yr: bank sysr@h permitting the banks 10
aGe the publ" d, prsIics and tho other in ni
what is called the reCal Depas'e syslem. Neheere
however that Of lie last na"ed party called Con-
valves would have been willing 10 adopt the Special
Depos!ic system. We shall! therefore, cnnne ourselves
10 these two. Let first enquire which viii be the
cheapest mode Of disbursement. The public revenue
from all sources may be put down at 80 millions q! dol
lars. What per ccUtun would The banks be willing 10
take charge Of and disbu!Se this sum Tor: Not less,
presume Than one per would be fair equivalent
Then it would cost $3J0iJ0. What will 1t cost, If IN.
dIvituals shall be selected as Gisbursers: Unless We
shall have entirely mistaken Tie Treasury bill as 1t pass
cd the SENATE only four additional officers 10 lie APP
pointed n. salary Of about sig 600 per The
advantage, then, would be IN favor OF individual dis
hurscrs IN the proportion that twelve thousand bears 10
three hundred thousand IF iT0 hHEdrCd and figkty
cirhtg thousand iON0rs ge0riy Can this lie successfully
CUnroyerGed: IL Lhink not How then II be urged
as has beer that in point Of economy, the Special De-
positc system IS the best We ask cur readers to
scan this statement 1t will hear the most Igid cxam
nation Where The public funds ~i be the most secure
remains now 10 he enqulred into We have already I'D
miIted that we find difficulty in way at this point
and perhaps would be better for 10 leave the matter
to 81 ser and more experienced heads than our own We
have, however, leaning against the Special Depose
system We desire 10 the Government entirely Tree
from and independent Of The State banks. One decided
advantage thai individual sursers has the Special
Drpcsile system That the be regulated by law,
and he other only by contract. Ia The one instance,
heavy penalties might be annexed, nay, 10 the
verest imprisonment for improperly using the funds
while in the other instance the banks being State IN
sli,uons and corporate bodies neither be guilty Of
felony nor made anenab!e TO any law passed by Con
gress Fot these reasons then, prefer entire di
vorce between the State banks and the Government.
Having presented oGl humble views upon The thee
objections urged by the opponents OF the Treasury
scheme design hereafter 10 present them IN showing
what kind Of Sub Treasury bill in favor Of as
well as the reasons why believe, that Congress pos
sesses the power 10 charter U. Bank and if an
occasion shall arise TO charter such an institution,
what sort Of q bank should prefer.
King & Queen, Nov. Is. ALlllA.