The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1838-02-21

impoSe additional duties, rs dcnoSi,arieS, npon
certain pub officers, To oappoIni Receivers Ien-
eral of public money. and To regulate lie safe
keening transfer and disbursement OF The pub
lie moneys OF the United States.
MIR. WRiGnT SAID he regretted that II
would he necessary for him Ia impose
more severe tax upon the linic aud pai"ncc
of the Senate, Ihan he bad ever hr'"r' heeh
compeIrd Ia impose, since he hhh hreh
honored wi'h seal IN The body. lie ma"
hoped, therefore, that he should have been
able To- reach the suiject AT an earlier h"ur
in The morning bat, ns 1t was, he """d
endeayor To couclude with HE suing oi lhc
day.
He said he entered upou the debate with
a naiuful consciousness of his Inability To do
Justice to the position held in reference 10
,be measure upou The table. The discus
sion of il must involve questions at the high
est importance in po'Iiics, "i the m"'i per-
yading interest III finance, aud, AS heihougIt,
- of euual magnitude ia the morals al Gov
erunent. These questions were Ia be dis
cussed, delihcraIed upon, aud decided by
the Senate aud upon hm lu'd fallen 'hr
duty of openiug such debate he!nre that
high tribunal.
Could he call to his all talruis, expert
ence. learning, powers Of argument, and
perspicuity of language such as were pos
sessed aud nt the command "i many oi the
distinguished Senators whom he Knew he
must NEE, in opposltlnn Ia The hill, he st""!d
feel "A gratifying confidence ihat lac could
contend successfully, aud could dirIumph""'-
ly refule every ohlrciion. AZ II VAS, he
was consoled Ivy The lection HAT he should
be followed in the dcbqie by other Senators
equally able and equally distinguished. a"d
who would onlyNave nccasioi Ia ask at
him that he should not ia are II cause which
must rest it's defence With them. He would
most cheerfu!y promise them that he
would not Intentionally throw obstacles IN
their way; aud he would enrrcat the Sea-
ate to Judge al the biIl from lis provisions,
which he considered sound and saluiary,
aud not from the weaknesses they would
not fail to discover in his atteWpt tn sup
port them.
lie said the bill was based upon two
great leading principles, aud that all lis
provisions, detailed aud nuner"us aS they
were, became necessary, III the J"dgmen'
of the committee, t" carry those principles
successfully into practice. These prIncI-
pies were
First practical aud bona fie srpara-
tinn brtwern the public treasure, The ,n"n-
ev If The people, and the business of ia
divIduals aud incnr rporalinrs, and especial
ly between this mouey and the business oi
banking.
Secoad 4 gradual change Of the cur
rency to be recrived III payment at the
uubic dues from that authorized T. he re-
cpigcd by the rrsoluiion of Congress OF
1916, to The legal currency of the Cnlicd
S,htrs.
Mr.. Wright then went into the details OF
the bill, which we .hnIl give aS briefly as
possible The hill proposes 10 establish n
Treasury of the u. ;. at The srat of Gov
erumeut aud places of deposit for the safe
keeping of the public money al Boston,
Philadelphia, New-Y"rk, Charleston aud
ST. Louis. II creates four receiver, erner-
al of ,he public money With salaries ot from
tive to tllree thousand dollars, aud ten or
twelve clerks, and places the receivers gen-
eral at Boston. New-Ynrk, Charleston aud
ST. Louis-points best calculated to f,cili-
tate the operations of the Treasury, and
where all the higher grade nf public ufii;ers
are already charged with dlties that require
most of their time aud attention. These
are the only officers created 10y the b'll-ihe
collectors, pOstnasters, receivers d.. be-
lug deposnatIes, without addiiioual com
pensaion. Where there are no public Off
GERS, tue Secretary is to make deposits ia
banks, so strictly special, nnd So guarded,
AS to render them safe even 10 au iusol-
cent institution The depusitanes are tn
give bonds, aud tn be punished 10y impris-
onmen, il they use the money. -Four mil
lions are constantly required for the "Pera-
,ions of the Trcssury-wheneser the dePos-
ia TO the credit Of the Treasurer of the L.
=. exceeds thai sum, the Secretary ct The
Treasury is To invest sach surplus ia si"eAs
of the U. :. or of some que OF lhs States.-
When less than four rnIllions Is eredi'ed a'
aforesaid, then to sell such stock to make
Vp the deficiency. This plaza Is proposed
10 avoid the risk of keeping large amount
81 haud aud to avoid aesumulaiioas o.