Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1838-12-14
NO. IS.


should be made felony. and visited with
severe and ignominicus punishment This
is already. in effect, the law in respect TO the
mint, and has been productive Of the most
saluiary results Whatever system is adop-
ted. such an enactment would be wise as an
independent measure, since much Of the
public moneys must in their collection and
ultimate disbursement pass twice through
the hands Of public officers, in whatever
manner they are Immediately kept The
government, il must be admitted. has been
from its commencement comparatively for
tunate in this respect But the appointing
power cannot always be well advised in its
selections. and the experience Of every coun-
Try has shown that public officers are not at
all times proof against temptation. II isa
Duty therefore, which the government owes,
as well TO the interests committed TO its care
as TO the officers themselves. to provide eve
ry guard against transgressions Of this char
scter, that is consistent with reason aud hu,
manity. Congress cannot be too jealous Of
The conduct OF those who are entrusted with
the public money. and shall at all times be
disposed TO encourage watchful discharge
Of this duty. If a more direct cooperation
on the part OF Congress- in the supervision
Of the conduct of the officers entrusted With
The custody and application Of the public mo-
ney is deemed desirable, it will give mo
pleasure to assist in the establishment Of any
judicous and constitutional plan BY which
that object may be accomplished.
| You will, in your wisdom, determine up
on the proprieiy OF adopting such plan.
and upon the measure necessary TO its rfec-
tual execution. When the late Bank ofJhe
United States was incorporated. and made
the depository Of the public moneys. a right
was reserved 10 Congress to inspect, at It's
pleasure. by committee Of that body, the
hooks and proceedings of The bank. In one
Of the States whose banking institutions are
supposed TO rank amongst the first IN point
OF stability. they are subjected TO constant
examination by commissioners appointed for
that purpose, and much Of the success Of its
banking system is attributed 10 this wutchful
supervision. The same course has also. in
view of its beneficial operations, been adopt
ed by an adjoining State. favorabiy known
for the care it has always bestowed upon
whatever relates to its financial concerns
| submit to your consideration whether
committee Of Congress might not be pro6tab-
| ly employed in inspecting, at such intervals
as might be deemed proper. the affairs and
accounts OF officers intrusted with the custo-
dy Of the public MONEYS.
The frequent Performance of this duty
might be obligatory on the committee in re-
spect TO those officers who have large sums
in their possession, and left discretionary in
respect 10 others. They might report TO tho
Executive such defalcaiions as were found
TO exist. with view to a prompt removal
from Office unless the default was satishcto.
rily accounted for and report. also, TO Con.
gress. at the commencement OF each session,
the result of their examinations and proceed
ines. 1t does appear TO me that, with u
subsection of this class OF public officers 10
the general supervision Of the Executive, to
examinations by committee Of Congress at
periods Of which they should have no pre-
vious notice. and TO prosecution and punish
ment as for felony for every breach OF trust
the safe keeping ofthe public moneys, under
the system proposed, might be placed on a
surer foundation than it has ever occupied
since the establishment OF the Government.
The Secretary of the Treasury will lay
before you additional Information containing
new details on this interesting subject To
these ask your early attention. That il
should have given rise to great diversity Of
opinion cannot be subject of surprise AZ
ter the collection and custody of The public
money had been for SO many years connect
ed with. and made subsidiary TO, the adj
vancement of private interests, a return to
the simple and selfdenying ordinances of
the constitution could not but be difficult
But time and free discussion elicitne the
sentiments of the people. and aided by that
conciliatory spirit which has ever character
lied their course on great emergencies. were
relied upon for satisfactory settlement Of
the question. Already has this anticipation
on one important point at least--ihe impro-
prety Of dverting public money 10 private
purposes-been fully realized There is no
reason to suppose that Legislation upon that
branch OF the subject would now be embar.
raised BY a difference of opinion. or fail 10
receive the cordial support of large ma.
jority of our constituents
The connection which formerly existed
between the Government and banks was in
reality injurious TO both, MS well as 10 The
general interests Of the community al large.
Itaggravated the disasters of trade and the
arrangements of commercial intercourse.
and administered new excitement and addi-
ional means to wild and reckless spccula,
lions, the disappoinlmeniso Of which threw the
country into commissions Of panic. and all bur
produced violence and bloodshed The inn
prudent expansion of bank credits, which
was the natural result of the command OF tho
revenues Of the Stale, furnished the resource
es for unbounded license in every species Of
adventurc sed,,ced indnstrv from. lie rao,,lor