Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-10

tce, mere utilities The obligation 10 credit the
venue Collected specie, has always existed, and
would be binding hereafter than it has hcen here
ioore and special drposle, exclusively controlled by
the bank, would be unavailable in case Of suspen.
sion any olher which il would he equally bound in
law 10 pay in SPECIE. stipulation that the bank shall
paw the Treasury warrants in specie would be abortive
as that be determined by The Government creditor
Whether hr deposes in specie or in bank nnes il
will pay its n"es, and increase its discounts
cordinny. Periodical settlements with banks having
control the deposes, before and after the settle
ment, would be Urmality. Banks might be EN-.
pnyed under system OF j"nl management and control
Special collections, drposiles and disbursements might
be made under the care OF two SETS OF officers, one 20 lie
appointed by Government the other by the banks but
such plan would require much greater number OF Of
fces than is proposed; aud would at the same time
enable the banks employed by the Treasury u substitute
their notes for the coin collected and enlarge their
sues and their discounts which is of the principal
evils designed TO be avoided by the separation.
The Treasury cannot with snftty itself to trade
part with It's control the public money, from its col.
lection to its disbursement. Tier examining the sub.
rc in all it's bearings, and with every desire TO unite
public sentiment in measure, the committee ere
more thai ever convinced that the Simplest most econo
mical and best pan for all interests permanent sys
tenn is to employ officers of Government, appointed by
the President with The appreciation Of the Senate 10 COL
lect keep ind disburse the public money, under such
gulaons guards and restrictions as Congress may from
lime TO time deem expedient Various obec tons hat We
been made 10 this plan which deserve consideration
Some apprehend that, if not now, it will ultimately
qure large addition 10 the number of officers in the
public SERVICE and far increase Executive patronage
This apprehension founded on mistaken idea of
the duties Of public officers, as they have existed
from the commencement Of the Government. Ill the
essential duties Of receiving, keeping and discussing
the public money have always heen, and are now per-
formed By them, and the proposed measure mi ght he
carried into effect without The addition of single off
GER for the special repositories proposed for greater
security The money for cash duties and public lands
has always been collected by own officers, and placed
in banks in the first instance, 10 their own. credit or
kept in their own hands. Prior to 1900 all the custom.
house bonds collected at our custom.houses. aud
some are still But when collected by banks,
which was mere Treasury reguation the amount was
carried the credit of the collectors, and not 70 the
credit of the Treasurer of the United States Our
ceivers and collectors have always bad whether banks
were employed not, the absolute CONTROL for time,
of the whole of our from customs and public
lands amounting since 1885, TO than ST. O53 Co.,.
O0O The only change proposed u.s. that our officers
shall no, hereafter transfer the money to banks 10 be
loaned out but that they shall keep it and pay it over
directly to the order of the Treasury. 1t will certainly
be more convenient TO pay at their own offices than to