The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-03-03

the measure generally. II was NOT his nuroo.a ,o 49,
enss ms provision a. large, in this place. as the course
~ Asa stAeu out ior himself would require that he
should again Tecur 10 u but few remarks upoo the
necessity Of some provision u the soY wee led for
here. II indispenssby necessary 10 he
Of the Treasury, that il should have agences u .ane
description at these points The collections and d;s-
bursements at them all made this imperative and n 4
designed TO discontinue tho banks fsc sgeuts
some other must be substituted This would be appa-
rent all, merely from recurring 70 the names Of the
places, and TO their importance commercial towns
twas true that, in the bill reported by the committee
a. The extra session Of Congress IN September, pro-
vision made for this adon ~ the existing officers
Of the Treasury Department The duties proposed
70 be assigned these officers, weTe by that bill,
desolsed upon the respective collectors Of the customs
the places named but il then stated 10 the Sc
nate by himself IN his place, that this and many other
matters Of detail purpOsey omitted thar the bill
then reported might be made as simple possible and
embody the great prDsples intended be secured by
Il; knowing, as the committee did know, the strong
desire and determination Of both Houses of Congress
to limit that session within the shortest possible period
which the public business would allow They believed
that these details including well the provisions Of the
sections before noticed, the one now under discus
son and others which follow would be calculated to
protact discussion, delay action and thus, either
tend the session. prevent the final passage Of the bill
They were then convinced that the recommendations Of
the President and Secretary Of the Treasury to the
appointment Of these additional officers, would have to
be carried out, but in the then almost suspended state
OF foreign trade they did not believe that the ope
raons Of the Treasury would suffer for the want Ofthem
during the very short vacation which TO intervene
between that and the present session OF Congress and
il then ntmaed that the defects IN that bill could
be supplied now
The inquiries which the committee have since made
not only a rbe Treasury Department, but al Of
the places named have proved to their entire saiislac
ton that this addition Of officers will be required that
the collectors OF the customs at these places or certain
y at Of them, already charged with more
and responsible duties than any man. whatever
may be his industry and capacity for business well
discharge aud that, at the port Of New York at least,
those duties would justy bear division, we're 1t not
that from their nature and character they cannot be d.
vlded The same mnst be nearly the truth at Boston,
and cannot vary very materially from II at Charsst
and st. Louis The Secretary Of the Treasury suppo-
SEES that the receipts and disbursements Of the money
ordinarily collected and discussed each Of these points,
will occupy the full time Of competent business
man; and will any suppose that duties SO onerous
aud responsible be added to those present TO
be performed by the collectors OF the customs VIII
any one desire that such duties and responsibilities
should be confded to clerk in the Office of the
collector He thought not Then the provision, or
OF a similar character was Indispensable and
its rejection would endanger the safety OF the public
money embarass the operations Of the Treasury, and
put in jeopardy if not defeat, the successful action Of
the whole system
The sixth section Of the bill was, in substance, the
first section Of the bill reported by the committee at the
session the only alterations being those required
to make it conform the provisions which before
it, and which he had already noticed. II declared what
officers Of the Government should be deposltares en-
bracing, addition to those named In the former sec
TONS collectors ofthc customs, receivers OF public mo-
ney at the land Offices posimasters, and some other
classes and assigned generally the duties to be performs
ed by them in this capacity.
He would now pass to section ten which required
but single remark. II conferred general power up
on the Secretary OF the Treasury to transfer the money
in the hands OF any depostay to the custody and keep
ing Of any other depositary, occasion might require
This provision necessary as well to give the De-
parment control its own affairs, as to enable
it to consult the safety Of the public money, and
the calls Of the public service. II money accnmu-
la,o. al any given point to an amount which, from
the slnallness Of the officers bond, or from any
other cause the Secretary shall have reason to fear IS
or may be- unsafe he should be authorized to transfer 1t,
or any portion Of it, place Of safety If money &C
cumuaie al points where it wanted for disbursc
ment. he should have the authority to transfer It
to point where it is wanted If deposary be To-
Gated at place remote from any bank, and any Office
Of safe keeping similar authority will be required to
transfer his collections for deposlte These and many
other occasions will for the exercise OF this power
to make transfers
The twelfth, thirteenth, and fourteenth sections, con-
taued provisions authorize special deposites Of public
money for safekeepng at all places where there was no
office for the safekeepng belonging to the Government
The only parts of the sections which would be materi
al for him notice. those which defined the char
Of the deposites They made strictly special,
and broad discretion given to the Secretary Of the
Treasury as To the measures he will adopt secure
them that character. In case he shall think it wise to
do So he is authorized provide safes be plac
ed in the vaults of the banks for the exclusive keeping
OF the public money and constructed that they may
be under the Joint control OF the bank and the deposit
ing Officer that neither gain access TO the money
without the consent and aid Of the other A further
conditions that nothing but gold and silver and paper
issued upon the authority Of the United States, and
made by law receivable in payment Of the public dues,
shall be offered for deposte by the dePosltarss, or re-
ceved on deposie by the banks II IS further provided
that all dcpostes shall be carried upon the books Of the
bank TO the credit Of the officer making the deposte,
aud not the credit Of the Treasurer OF the United
States that neither the Treasurer nor the Secretary OF
the Treasury shall draw upon the bank for disburse-
ment or transfers and that the money deposited shall
not be withdrawn from the bank by the officer to whose
credit stands without order from the Secretary OF
the Treasury for the payment Acommisson upon the
money deposited proposed to be allowed to the banks
for their trouble and risk but the committee had no
information as to the rate OF commission which It would
be safe for Congress to fix ma1lmnn and not IN
cur the danger limiting this compensation as 70 IN
duce the banks to refuse the dcpostes altogether they
have reported the bill in blank in this respect
These provisions, it would be seen, were very close;
and it had been suggested, as well by some OF the
friends as BY the opponents Of the BILL that they were
so close as render il possible II not probable that
the banking institutions would reject them on that ac-
count upon the ground that they carried npon their face
dstrus, OF the soyency AID responsibility Of the inst-
tutions or OF the integrity Of their officers and managers
or both He would detan the Senate few moments
10 examine these objections and first II he under
stood the matter and the law OF the csse the idea OF
distrus as 10 the solvency and responsibility Of the
banks arising from these provisions, seemed TO him to
be forced and unnatural inference II such an idea
could grow out OF any part Of them, il must be that part
giving TO the Secretary Of the Treasury discretion 70
furnish safes for the exclusive keeping ofthe public mo-