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

keeping Of The thlrg Ell rUslcd 10 Its kseeP'hg
In The provisions Tor The special depose provided Tor,
therefore, the Government only proposes TO hiFe Tue Be-
cuy of the vaults and safes of the banks tor Inc Keep
ing of IFS money and the ordinary care and vigilance
of its officers in guarding it while there Beyond these,
it has nothing do wiki The capital, solVency, OF re-
spnnsibty of The institutions How, then, can IL oe
sppnscd that the provisions intended To carry dis
trust upon their face against the snIvrucy and respo-
silily of the banks II the vaults be sale, and lhc
integrity Of the officers, their Vigilance aud care lrieu
and knnwn an nsolveEl bank is sac place Tor q
special d-postr rs solvent one bank unable I" Pay
lis debts us Il bank abundant in its means beyond lis
liabilities Either keep safely aud faithfully NE
property of another placed in Ills vaults while The Gre
ditnrs Of neither can avail themselves of special Gepo
site whatever il ray he, without the assent aud aih oi
The officers Of the institution How unnecessary, there
fore 10 declare hstruSt upon the face of las. when
almost all interest, in the just grounds for that reg,
is put by the nature and character Ui the depsts
be made. And how unnatural tn Inrr Shch cIsirusl
from language which does not necessarily convey II,
when the character Of the proposed ID be made
does not require the inference.
1t was further alleged that the provisions conveyed
mpulacn against the integrity Of the officers and man
ayers Of the banks and that therefore, they would not
with the Secretary Of the Treasury for The
deposites proposed. Was this fair construction OF
the provisions Of the bill; Was i, improper or nm
generous dslrust Of the integrity OF those who had
The management of these Institutions, aud the care
and custody of the property placed in their charge,
to SET guards their conduct: What did lie I'LL
propose in reference To The officers who To br en-
trusted with the safe keeping Of the public money! They
were required only In give bonds for the faithful per
fnrmance Of their trust, but breach of TINT trust IN
the of the money, for investments, loans or IN any
other manner whatsoever, was declared crime which
should subject the perpetEal"r TO indictment anu ma
NOUS punishment 10 prnracttd personal imprisonment,
and to fine equal 10 the money enbezZed and, conss
qneny, 10 perpetual disgrace and lniany. WAS lhis
suggestion upon the face t." these provisions, OF dIslzi
of the honesty ard integrity of these officers: Was
every honest and honorable Citizen OF The country bound
to reject these Offices when rendered 10 !em because
the law under which they act in providing penal
ties for their misconduct guards against 1t, conveyed
the Public is,rus of their integrity: Had any sates-
man ever supposed that, in naming penalties and punish
ments in LAYS for violations OF oinca! dnty or ullcai
trust he drawing out mpuIaDns against the nle-
gritty and lrustworlhness OF the Officers who were 10
hold places under il; He could not So suppose he
could subscribe TO this dnctrine; and lie w"uu ASK
if interpretations, incorpnrr1l cXlscnccs, were 10 be
treated more Geicacy legislation, than that class
Of citizens who would br selected by the PRESIDENT and
approved Ivy the Senate, for high aud responsible public
trusts All must answer no; and So answering, all
must cnncedr lhrt .here foundation FOR this Oh
lection the provisions. interpretations could not be
subjected 10 indictment and punishment, MS there was
no real person upon whom the punishment could be IN.
lcled This check could net be imposed upon Their OF.
iccrs and agents. because it woud he Impossible u de-
tcrmne who guilty in form only and VIII" IN fact,
when every he that of ogant, who may have
discretion II, then, physical restraints are nerPos
ed MS these sli.u,inns accomplish The ends which
are reached by penal enuctments in the nf natural
persnns is the offence to drcacy OF feeling the a'rnnl
honor integrity, greater in the former Than in
the latter: lie could not that It was and he must
think that both Of these objections displayed degree q!
wrought sensbiIity towards the banking lns;ilu
tons of the country, which their sagacious managers
would should not govern their conduct.
There single other view OF this subject which
he present, and he would pass 10 n:ler PROV.
sons of tn. bill. 1t The Intention nf the c"mmil.
az Tod
sites SRI ly special To prevent The banks from any use
of the money ,rposed and he believed the provisions
to ~I:ch he had referred, il faithfully exrcuii!, would
accomplish that intention II the hunks should receive
the money, under this understandings and wih an in
tenon their part 10 carry it out in good faith what
would be their true interest in THIS matter Would II
nat be have their power TO USE The money PLACED
beyond question: To have ply steal Disabilities in.
lcrpued between them and tina, portion Of The pub
lie treasure committed 10 their clIaIge Observation
and experience must already have taught them that
the distrusu eye OF public opinion follows The public
treasure: and unless the most efficient guards are prov'
ed nv the Government and assrnted 10 by The banks,
will the most suspicious at breach OF their
lrus, be likely 10 rest upon Them Ought they no Tor
their indemnity, To desire that the use nj these mo-
nrys Should be placed beyond their power? And will
they have just reason to apprehcnd That OBJ
rciuus their part may rise 10 suspicious as 10
their disposition faithfully to execute te Trust IN conur
| mlty with lis intentions:
The fifteenth and sixteenth sections provided checks
upnn the varous Repositories constituted by the BILL
The first authorized the Secretary Of the Treasury 10
appnn specal agents. whenever he may find 1t neccs
sarv, to inspect The books. accounts money on hand
and other business of any depusitnry The principal
object of This section as hc understood that object was
To- enuhe the Secretary, whenever the returns OF Tie
officer information communicated by third persons, or
| anv other information, should authorz" suspicion
that all was not right with any of the officers en-
trusted with the safe keeping Of The public money, 10
appoint some competent citizen, as special agent tn
present himsplf unexpectedly with authority TO examine
The official transactions Of The officer, 10 detect and cor
reel error if errcr should lie found exist; to expose
fraud and bring The officer punishment, in disho
nrsiY should he d-iec,ed and 10 justify innocence ii ss
peclcd without, foundation. 1t was true The SECTION made
these examinations compulsory, at long intervals oil one
year. in cases where the amounts collected usually e1
cerdpd rs: proportion to the amnnn secured by The
bond Of the officer; but this part Of The section he cons
drred Of much less importance than that lie had before
noticed He considered its principal utility To exist in
the authority To appoint agent unknown to the ot
! Ger, and who might upon him IN an unprepaTeG
snle. If the agent were 10 be one permanently appoint
| ed and publicly known: one whnm the officer might
watch aud guard himself against, he should consider II
not worth retaining fle aware that. IN its prasen
shape it was objectionable to OF the friends ct The
| bill: and. with this exposition, hr submitted lis adoption
or rercon the Of the Senate 1t was an exact
transcript Of section contained IN The bill which passed
the body the session. and rs II was inserted upon
the suggestion of the head Of The Treasury Department.
he presumed the suggestion had proceeded from STINT
lar provision contained in the laws which regulate The
Post Office Department, and which mad been OF great
use in detecting frauds connected with the extended Ope
raiiuns of that Department; bat should 1t be thought
that such provision would not be beneficial, con.
neclrd with this BILL c should not consider lis removal
materially marIng the system intended To be constI'
tulcd.
The sixteenth section made il the duly of The survey
urs of The customs, naval officers, registers Of the land
Offices directors of the mints, aud other officers al
the expiration Of each quarter, to examine lnio and re-
| t,n Spr The Tres al
accounts and money hand Of the repositories in their
Districts or immediate connection. These were checks
obtained through the nslrumcnlay of existing officers;
were wholly without expense 10 the Publc would evi'
IDENTIFY be Of material service as guards upon The dePo'
STORIES aud contributing 10 uniformity and system
in the keeping Of the accounts Of those officers aud he
presumed would meet with objection from any quar-
Ter.