Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-08-16

Ii the Treasurer had the actual custody Of the pub
lie money, instead OF keeping it in banks the Presi-
dent would he obliged still get warrant from the
Secretary OF the Treasury before he could receive
his salary. Ii IS said fthe Treasurer had the actual
custody of the money. the President might compel
him TO put Il into his possession by the exercise of
his authority and power official dependent.
But Is IL not Just easy. BY the exercise Of the
same anihoit, and power compel the Treasurer
10 draw check on bank Aud could not the Pre-
sldeut or his instrument obtain the money from
bank on sucha check, lust easy as he could
II from the lheasuter's actual possession Would
IT not, indeed be iiae ecscr 10 compel the Treas
drae check Than to count oui large sun, O,
money! As for the banks. they never have claimed
the night to dispute the Freasufefs check. their du
y being merely 10 pay il. When there were ih'riy
OF forty millions OF dollars in the Treasury, there VS.
nothing IN the law IN the structure OF the sVstcn,
prevent the executive officer from ehocL .ug cccry
dollar of Of the banks. If inclined 10 Apply it 10
improper objects. Indeed until ls}9, there
practical restraint upon the Treasurer whatsoever;
the sole authofii, upon which the banks pad the
public money. was his individual check aud the
sraint then imposed IN requiring that the warrant Of
the Secretary OF the Treasury should accompany the
Treasurei's check, hne of Executive regulation,
and not OF Cong, e.sonai legislation. The dangers
ConIured up from thus therefore 1togcth-
er imaginary.
The union of the purse aud the sword, much
deprecated by English ancestors, altogether
. different matter. Nv them the power to raIsc an
amy was called - the shotd ara the power Ia I'-
and collect taxes To support II ".s CdlleI " the
purse The English Constitution conceded to the
Executive the power TO raise an army OF the power
OF the sword but reserved 10 parliament the power
10 lay taxes 10 support II, OF The power OF " the
purse II WIS The attempts Of Chailes the FIRST to
raise taxes for the support oi hls amy without tie
consent OF Parliament thereby uniting the purse
and the sword" which produced bloody revolution
aud brought linn 10 the block
Onr Constitution concedrs the Executive
neither oil these powers. lie can neither iaIsc an
army, nor collect taNes 10 support 1t without the
consent Of Congress. In theu hands are both 1.-THE
purse and the sword aud the Executive IS but an
instrument cary then determinations into effect
lie Yields neither the purse no the sword, other
wise than as the subordinate o The legislative pow
iienee il will be perceived thai the union OF "lhc
purse aud the sword very different thug trum
the custody OF the public money by Executive OH
II every Government under The sun, the most
tree the most tsfanuieal, the keeping and paying
out OF the public treasure under the authority OF Law
has been considered IN Executive function. When
before It thought Ia be dangerous to liberty !
DO find tfaee Of such danger IN the ancient
Republics OF the modern. among the Greeks, ~
Rome, IN Switzerland, OF ~ Holland Was such
question ever Iaisod among tie jealous patriots OF
England j. Il now ground of jealousy alarm
Ia any Other Republic Of America. orin any hunt
ci monarchy oil Europe No such Danger WAS rv
FL perceived, suei question Was ever heard ui--
own ingenious couirymen, stimulated by those lively
principles al human seton, political ambition and
pecunary interest II Is not extraordinary thai
those who wish TO ptoht BY the use Of the public
money pronounce II unsafe In any other hands, nor
that these who IN eager pursuit OF the rtilc of
power JOIN IN the CRY. But an impartial people, who
lave interest IN being deceived, will only give due
weight 10 the argument aud appreciate the motive III
winch II originates.
What would be sad IN England If some sensitive
IL. I,l
sword" should propose to keep the money of tho
/ ntod Kingdom The Treasury OF belgium, Han
over OF Holland Those nations are scarccl, moIc
independent oi the BRUSH Government and nation
than our banks are Of the Government aud people
ot the United States nor are they, on some ncca-
fons, more hostile than portion OF the banks-
is II possible that Goyeln;ncnt which puts rs
means so completely beyond It's own ooutrol, can
on all occasions, perform lis engagements, keep ITS
iaitl, or protect the people by whom It IS establish
ed, and whose money supports II Ii has hereto
fore been deemed enough that the legislative pow cI
can, al will diminish the amount ofmoncy TO be col.
lected, and prescribe tie regulations under which
II shall be kept. 1t has not been considered uccrs
sary 10 establish an independent branch of the Gov
efnmenl for that purpose, and least OF all intro
duee foreign powers totally rrcsponsbl. to The uco-
pie, Often too strong iur the Governments aud ALWAYS
devoted TO making money out of all circumstance,
aud pbcissitudes. To make keepers OF the public
money Out OF such materials, Is III character with
those klngiy notions winch would give to our Stat,
tanks monafoh corporation or MASTER upon the
plea thar the people cannot control them.
II l. objected that tins measure OF hostility ia
the banks. The Government Is not To be a hoardcr
al money. hat II collects II cNpcuds and
Al has seldom occurred IN out history that 1t has
had ON hand, IT the same time, more than Il
eight millions OF dollars. 1t ought not TO continue
any system OF revenue which will enable 1t to hold
regular surplus exceeding five millions THIS /,
not more than large bank finds II cssary TO rc
tam To carry ON sale business. The hto Bank o
the United States frequently had from ten to fifteen
millions. For years 10 come. Ii Is probable that the
whole amount OF money IN the Treasury will not av-
eiage three millions, and will scarcely be equal IA
one weeks recent importation ol specie. | idle
10 suppose that tins materially Affect the opera
tons o, the banks.
The only mode in which thglr operations will be
effected is, that they will no longer have the plrS
ieee OF lending money which Is not thrir own
Is the withdrawal from them of tins privilege
sarily act OF hostility farmer has been IN the
habit OF depostng his money III bank, but he
could not get pay hs hired hands when he wan
ted II, the bank having stopped payment he conclu-
ded that II safe aud more Just to his cred
itors, To keep ii himself Was there any ho>tllit,
10 the bank in that 1t is Just 81 with the Govern
mem. he banks had lent the public money
and could not oollectlt. With millions nominal,
in the Treasury the Treasury Department coul,
scarcely pay a dollar in the legal currency OF til,
county II does not wish TO be dependent on thos,
whom It's experience has taught tare not always t,
he depended upon.
The Government only desires to manage ITS owl
business in It's own way 10 let the banks alone an'
10 be let aione by them 10 use them when the pub
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