Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-02-13
February l3, 1888.

employment than in attempting to bolster up sandrrous
impulaons against their nsigbbors, and attacking peo-
pie who have not The misfortune 10 owe them nm thing
Mir Niles argued some length 10 show that the
banks themselves, and not individuals acted in The ca
pacy Of pension agents. and were appointed as such by
the Secretary Of the Treasury, the business being gwen
into the hands Of The President Of the bank either Of
fcer, by ,he banks themselves. He argued asn, that
the failure and misconduct Of This bank was decisive
argument ugainsl The Stale bank SYSTEM aud in favor oil
the Sub Treasury scheme He also srpellrd The idea
That the Secretary OF the Treasury had deposited the
public money six months in advance, for lh purpose Of
putting The value OF HE use OF II in the pockets oi mol
viduuIs.
AIR. Cri't"nden said this report quite anomaly
" The public money $40 QUO were going in SUN by
this bank; and Mr. T. observed That early in Oct 1896
the Secretary of the Treasury had deposited S200O 900
with the commissioner for building the house
at Boston, and afterwards $50 O making The
Of S25D00; aRd of this when lhr bank failed there
$40 QUO remaining in it. If thu Senator from Con
nectcul was 30 t-nucious in maintaining the upright
ut Treasury management peaE5 IL cnu'd furnish
excuse for This Here l'iss by urp"se and by
discussing officer had bern su-air'd. aud The motley
had been lw" years IN his bands IL The 2OO QUO only
had been given, thsre wnDlh still have been n lrss nj
S2aDO); but while The bands of this agent WIRE already
ovrfl.'wing with the public tnnnry. Thy G"rrrnmthi ~
April gave him $50 O more; ard r' period, ii would
BIZ rrc"!!~cIrr, very critical one with the banks
Why take lhis large Of rn"ny "ut u" thu lrrasury,
and put drIrse the la ndS -" any public agrn'
Il mrl be nrcrsSaiy the bank. kui nd not
he necessary sustain the officer. Tie already
iondrd with money. which he gould not e1p"nd, whrn
the SJD.DU0 added And there hss now by
this bank OF $40 600 II hings WIRE n,anng"d in THIS
way, Mr. &. did not occasion TOR Sub Treasury
bank, any bank al all 1t seemed as If this required
remedy.
Mr. buchanan said The circumstances referred to
proved that there was very g.rat OCCASION for Sub
Treasury ] have (said Mr.. b. watched lie progress
OF this Commonwealth Bank business, and appeurs to
that if any argument wanting in favor OF Sub
Treasury, what has been made manifest on this Hoor
makes The argument for the Sublreasury bill cnnclu
give. | know not what the conduct OF this bank has
BEEN and glad that the subject is 10 b. referred 10
the Committee on Finance because: there justice VIII be
done both sides Bn long The present. or rather
the late, system shall exist you will have eternay The
complaints the Secretary OF The Treasury selects
bank anuher at his pleasure md suspicion. j"a
ousy, distrust always FOLLOW his conduct which, II the
Secretary were different from hat he is might be dis
honest, aud he might hide himself in the gh places of
the Government This power is lever which might
enable political aSpIramt To move the whole Country
aud we shu BIZ RI! 81 il W we collect our money
aud pay debts ourselves Al experience against
This system Mr. 3 raTtd, if an investigation should
be made in,o ether banks, it woud be iunud that they
had pursued the saHe this II you want
to the public money from Executive inter ference
from The power take u and give 1t away al pleasure
YOU must lake If II yourselves
MIR. Is SAID S.rry ll" St'naiur from aiaSsachu
sells had any occasion u defend himself ngairs; PERSONAL
attacks Oh his p'lrae Interests bat however just
the coup! mt ms ht BIZ, hs Thought II bad p"rcy l" de-
tend himself Ia against lie ui t'" supper -
But. arr all. there was no charge against nan winch
could att honor integrity r slightest degree
Even If he could pny his drbts is situation (sald
Mr. Il IN which many Of Vi have been Bul.he tx
planaGn OF this bank matter WAS this: The SECRETARY
Of the Treasury having UnniIrd control vi the pub
lie money, had thought proper IN drpusite II IN The
banks, in the hands Il" pension agents the president
Dir other officer Of banks Bat the Secretary OF the
Treasury ought not Ia have snch p"wer, and No emplu'
men, should received 10y any VI the banks account
OF disbursng liz public money. But We ought to keep
it ourselves and pay It out To meet the dues VI The pub
lie creditors
Mr. Clay said this incidental debate lille un.
expected bv him; but has up. said he wIl
take III" opportunity l., a few words Ih. Srualor
(Mr mcianauJ that These astounding disclosures,
for ST. regard lhrm afford satisfactory PROD" of The ne
cessy Of adopting the Sub Treasury SYSTEM alias The
Gur,THnsni Bank OF the United STATES, which IS now
before the Senate. And what Is II lie tells US now OF
the iv,iie system which WAS adopted IN 1874, and q"
which he then and since the strenuous ady"ca Z:
He suys II Is dangrrnus anj The Srna'"r from on
nrctcut hlr NIrs IT Is c"rrupT, and HAT II Is
nu; Thought worthy II confidence. But why tins DIS
crrpnncy: Why. WHEN the mrnJsr and his Irr nds had
rejected u system and an institution which fnr near hail
a CENTURY hud taken OF sh- pobc m"nry without
the lnss Of single ceni--why WHEN that faithful nsu
tuition discarded. did they resort IN Tins. which he
calls unsafe and currupung: Sir. having t'lnd
That the which they adopted THREE years ago has
failed. they for giving as ann'h-i Ut their pre-
scrp!iJus winch lake from these same d"clnrs,
although their frmrr prescription failed, which the
grand caihnl con in lc:I Aud in three yrnrs more,
thy viii ciii thus system, which tiry now want 10
nr"e up"n us, just as unsafe ann c'rup"g as The "r
Sir VIII! arr these sub Trpasurers, and what sa,isinc
tim have that they will b. 7nyr!s pare, iititni, and
alwars acting with hirlItv and adrHnta The finances
Of h- cnuulrY II dos not in's'i'l"rni us, we
are already in hr way Irs r!'r'ns III 'lr hands Of
individuals AID VIII ;hr s"mr inhv'h"''s d. ht''f
under this system: No Srr under no system whai'
ever; and song nrr" yrar- h-ncr shall lind those
1, .rIt-t
drnuuncng This HEIR other experiment Sir, ask, how
Can you rxppc, that All individual should have half
million of the public money in hts hands wi'h"ut dam
ger Of his helping himself or his Trend: at the public
cxpensr; WHEN this raper - nj shall prove fail
ure as fail il will, if adopt II, We shalt then have
some experiment 10 drudp aud deceive the crecu-
lily Of the American People Give ns n" more ut these
subTreaSnry Schemes, no mo'a OF these experiments,
these nostruIns.
Sir (said Mir. c. when entered the Senate this
morning, my ears delighted with sound which
came from quarter quite unexpected Inc senator
(Nr Grundy) go, up with his instructions IN MS haho'
and in a manly manner declared thnt he would cunIorm
To those instructions Sir hope they vii! b. confirm
ed To by in this SPune. Some # my friends do
not hold that they bound 10 obry such Instruclons
and they therefore acled with perfect cnnsIslency-de.
cIined to conform to them ] (sad Mr.. am among
the number who. with CERTAIN qualifications do hold To
the doctrine Of instruction Let those VIII hold TO the
doctrine act consistently Let instructions come and
hope if the Senator from Pennsy receives his he
will BE- guilty Of evasion but meet them b"GIy, ana
either obey hem resign and go "n", and i"nv" his
place To one that will c"ntorm And the Senator tom
New York. too, It am not msnf"rIned, when he WAS
asked what WAS be done in relation To his COLLEAGUE
replied instruct him; if am correctly informed such
was his language. hope the Instructions VIII come,
and come am confident they Will, from That source
which gentlemen of the party say they are h"und 10
ob.y-irom the People and lbe representatives OF the
People And Virginia, too; but Sir believe the party
there hung jury; however. at lie next eieci"n the
people will order rsnrs de noro against the Sub lrra'
s,,r And in the Stale from which The S"uaIor (Mr.
Gnndy) Ibis morning presented The rrs"n'l"Es IN the
Legislature Of that Stale The instructions were uG"rtro
BY majority nrproximaling 10 nHanImly In TUE ST.
nate OF that Stale there WIRE le I" Z. md III me House
or REPRESENTATIVES 80 10 1873 the Mosaic aw-tnfty