Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-09-15

even bis salary.
lf the Treasurer had the actual custody Of the
public money, instead Of keeping II in banks, the
President would be obliged slill to get 4 warrant
from the Secretary Of the Treasury before be
could receive bis salary. Il IS said II The Trea-
sursF had the actual custody Of the money, the
President might compel him TO put 4 into his pos
session by The exercise Of his authority and pow
eT over an official dependant. But is It not Just
as easy, by the exercise OF the same authority
and power TO compel the Treasurer to draw a
check on a bank And could not the President
or his instrument obtain the money from the bank
on such check, Just as easy as he could wros,
Il from the Tfessurers actual possession Would
It not, indeed, be q lille sdIisr to comps, the
Treasurer 10 draW cheek than 10 eosai out
large sum Of money As for the banks, they
never have claimed the right to dispute the Trea-
sllrer's check, their duty being merely TO pay it,
When there were thirty or forty million Of dollars
in the Treasury, there was nothing in the law, or
IN the structure Of the system, to prevent the eK.
ccutiYe officers from checking every dollar Of II
out Of the banks, il inclined TO apply it to impro-
per objects. Indeed. until 1929, there was no
practical restraint upon the Treasurer whatsoever
tho sole authority upon which the banks paid on,
the public money was his individual check, md
the restraint then imposed requiring that the war
rant Of the Secretary Of the Treasury should sc-
company tho Treas0rer's check, was enc Of Ex-
scutive regulation, and not Of Congressional leg
islation. The dangers conjured up from this
source are therefore altogether imaginary.
The union Of the purse and the sword, so much
deprecated by our English ancestors, was alto
geiher different matter. BY them the power TO
raise an army was called /" the sword" and the
power TO levy and collect taxes to support i, was
called tho purse."--The English Constitution
conceded 10 the Executive The power 10 raise an
army, or the power Of the sword" but resen-
ed TO Parliament the power to lay taxes to sup
port II, or the power Of 4" the purse" 1t was tho
attempts Of Charles the First 10 raise taxes for
the support Of his army without the consent Of
Parliament, thereby uniting the purse and the
sword" which produced bloody revolution and
brought him 10 the block.
Our Constitution comedies to the Executive
neither Of these powers. lie can neither raise
an army. nor collect taxes TO support 1t, without
the consent Of Congress. In their hands are
both the purse and the sword" and the excu-
tive is but an instrument TO carry their determin.
atoms into effect. lie wields neither the purse
nor tho sword Otherwise than as the subordinate
Of the Legislative power.
Hence il will DO perceived that Tho union Of
= tho purse and sword is a very dferen. thing
from the custody Of the public money by Execu-
live officers. In every Government under the
sun, the most free as well as the most tyranncal,
he keeping and paying out of the public treasury
nnder the authority Of law has been considered
IN Executive function. When before vas il
bought to be dangerous 10 lIbenyl DO we find
/ trace Of such danger in the ancient Republics
" the modern among the Greeks, in Rome, in
Switzerland, or in Holland Was such ques-
ion ever raised among the jealous patriots Of
England Is il now ground Of jealousy or
llarm in any other public Of America or in any
United monarchy of Europe No such danger
sas ever perceived, no such question was ever
leard Of. To originate it required tho inventive
acultes OF our owl ingenious couniymen, slim
Hated by those lively principles of human action,
POLITICAL ambition, and pecuniary interest II is
10. extraordinary that those who wish to profit by
he use Of public money pronounce IT unsafe IN
my other hands, nor that these who are in eager
'ursuit Of the prize Of power join in the cry.
But an impartial people, who have no interest il
elng deceived will only give due weight to the
rgumenl and appreciate the motive in which it
originates.
What would be said in England If some sensi-
we patriot, TO prevent an "unlon Of the purse
nd sword,' should propose to keep the money |
# the United Kingdom in the Treasury OF Bel |
,ium, Hanover, or Holland J Those nations are
scarcely more independent Of The British Govern
nent aud nation than our banks are Of the Gov
and people Of the United States nor
are they, on some occasions, more hostile than
portion Of the banks. Is 1t possible that a, Gov
crnmcnt which puts lis means SO completely be-
yond its own control, can, on all occasions, per.
form its engagements, keep its faith, or protect
the people by whom il is established, and whose
money supports it 1t has heretofore been deem.
ed enough that the legislative power can, at will,
diminish the amount of money TO be collected
and prescribe the regulations under which it shall
BIO kept II has not been considered necessary
10 establish an independan, branch Of the govern.
ment for that purpose, and least OF all 10 introduce
foreign powers totally irresponsible TO tho people
often too strong for the Government, and always
devoted to making money out Of oil circumstan-
ces and vicisstudcs. To make keepers Of the
public money out of such materials, is in eharac-
ter with those kiney notions which would give
to our State banks a monarch corporation Tor a
master, upon the plea tina. the people cannot con-
troll them.
Il is objected, that this is measure Of hostility
TO the banks. The Government is not to be hoRr-
de, OF money. What il collects il soon expends
and II hns seldom occurred IN our history that i,
has had on ns:d, 1t the Same time, more than
six or eish, millions o!f collars. 1t ought not to
continue any system Of resenus which viii enable
it TO hold a regular surplus eNceec'ng hNe m'l'
hons. This is not more than large Gan" hho'
it necessary TO retain TO carry on safe BUSINESS
| The late bank Of the United States frequently had
from ten TO fifteen millions. For years TO come
il is probable that tho whole amount OF money IN