The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-01-20
COMMUNICATIONS.
sUB-TREAsUhY- DEPOsITE
scHEME--sTATE DEPOSITS BANKS
AND TREASURY NOTES.

To the Publisher Of the Madisoniaa.
shall devote this number exclusively 10 an exa-
minaion of The Sub-treasury bill, reported by Mr.
Wright, the Chairman Of the Finance Committee Of
the Senate, on Monday last
So far from there being any thing whatever con-
tanned in this bill of compromising or conciaory
character itembraces all the Objectionable features
of that acted by the Senate at the extra session.
with some new ones added to H.
The whole character of it is anti-republican
throughout The provisions il contains seems better
calculated to b. reduced TO practice under the do
minion of despot than under the administration Of
President ola Republic.
When this measure was first introduced by the
President, in his Message TO Congress- at the extra
session we were told that its adoption would require
but few additional officers to be appointed and those
of subordinate grades; and, that the whole expense
which il would call for, would not exceed a1y thou
sand dollars But what does this bill contemplate
Something far different from that! We are to com
mence this grand experiment on scale of grandeur
and magni6cence, unknown under either the En-
glish or French monarchies
First, we are 10 have spacious rooms set apart in
the Treasury building for the special Of the
Treasurer of the United States, ''and his assistants"
Ca new class Of oficers) and clerks; with fire proof
vaults aud iron safes bars bolts sc. &c. which is
to be distinguished III. grand United States Trea-
sury The Treasurer of the United States is 10 pre-
side over this establishment and keep the treasure
placed within ii.
Second, we are to have set apart in the Custom
houses now erecting in New York and Boston, suit
able ard convenient rooms, provided with fire proof
vaults and iron safes, and secured by iron bars and
bolts and other ingenious inventions, in which areto
b. kept the moneys Of the People, under the charge
Of whoml Under description Of officers as yet
unknown in republic whose title we borrow from
monarchical France RECEIVERS GENERAL!"
Third we are to have purchased in the cities of
Charleston, s. c., and st. Louis Missouri, sites
which are to be constructed splendid cdifces provd
ed with fre-proois, iron safes, &c. &c. 10 each OF
which is to be attached RECEIVER GENE
RAIL" a Ia mode de France
These four General officers, are to be nominated
by the President and approved of by the Senate ciM
Sub Treasury majority) in case the bill becomes
law.
Fourth The Receivers General, thus appointed;
the Treasurer Of the United States the Treasurers
of the mint and each of the branch mintS all collec
tors OF the customs all surveyors acting collectors
all receivers of the public money at the land Offices
and nearly an the post masters, to be made depo-
away the same
FIfth All the foregoing officers, whose duty it is
made under the act 10 keep and pay out the public
money "may be aloped any necessary additional er-
pcn@s for clerks fre-proof chests, raus or other
necessary expenses Of sate-keepag, transferring and
discussing The public moneys"
The expense which would be incurred in the first
outfit here contemplated could not fall short of half
, 49, Nd min n hv
hundred thousand dollars, The annual expenses
which would attend the execution of the plan there
after, could not be less than to two hundred thou
sand dollars. Well might the authors of this scheme
and those who framed this BILL for the purpose ofde-
faying the expenses attending it, authorize the en-
poyment of the entire balance in the Treasury, not
otherwise appropriated! This will be seen in the
18th and last section of the bill
The expenses TO the country weigh but as a fea-
ther compared with the danger attending the liber
ties of its citizens by the establishment of such
don of Government officers, each holding portion
of the peoples money! all subject to the control Of
one head, and removable at his will The greatest
despot to be found in all chrstendom does not WELD
a more alarming formidable, or dangerous power
Let every man who values his liberty, and wishes to
preserve his freedom look at this vast scheme with
fear and trembling is monstrous, and ought TO be
put down and strangled in its birth.
This scheme is brought forward and urged on the
country, in part to avoid corrupt practices, which its
advocates allege might creep in, by the continuance
of the former mode of conducting the public finances
Is there not something contained in this bill of
character somewhat akin to what il proposes to rec
tify and prevent2 For what purpose, ask, is it,
that site is TO be purchased, magnificent edifice
erected, in Charleston, S. c., and one of the new
officers, Receiver General" appointed to super
intendthc moneys collected there; mourning thereby
an expense first, of twenty to thirty thousand dol
lars, probably and thereafter of ten thousand annu-
ally Is il because of the vast sum of public revenue
collected there No; that cannot be. The whole
sum collected there in 1884, was but 100000. The
expenditures the same year made there amounted to
1914 900. From its natural position, moneys are not
transferred from other places beyond what may be
called for to meet the excess Of expenditures over
the money collected there ! call on the authors OF
the BILL to speak out and give satisfactory reasons
for proposing this establishment al Charleston L
also wish them TO state whether it was or was not in
the bill as originally proposed and If 1t was not, at
whose instance was it subsequently introduced =
They not times for fattcring, when such schemes
as these are brought forward, and attempted TO be
forced down peoples throats through the mere dis
cipline of party.
look on il as somewhat remarkable that st.
Louis should be selected for the purchase Of site
and the erection of another of those gded edifces,
with Royal officer at its head experimenting it.
should suppose that Louisville or Cincinnati would
be much more central for the five Western States,
to dcpositc the public moneys collected in them.
Is there not something contained in these pro-
positions, of a character looking seemingly like