Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-04-05

lac dusA Does he thiok thai the usage OF the
Government. ufdss 80 sis administrstions.
asd With every party In power, shieh hs. pre-
vsslsd tOr nish hfty years. ooght To be sst
aside Coz novel theory Of hrs, ja.t dreamed
INTO existence, even " Il Pos.sssss the nsri,
of ,nss0eiis The bill under confederation.
~h,eh has been eulogissi By the Senator a.
Pefieei ." hs s,rurtnre and details. eonisins q
l,so,'.'on That eAhk aOtss shall be received In
d'ssihi.hed proportions, surlnx . term Of ain
years ITO himself inirOducsd that identical
principle. rn ,Ie only part OF the b,li that
emrastieslly h.. How, then. can he con-
'soe That II 70 uneon,iIiuiional TO receive bank
a"'ss N Psynsni Of public duesl Z sppesi
IRON hinseifto h.nseii. Tue senator further
contends. that seSersi eePo,iies cannot be
made NEh banks, and he ihus COMPOUNDED
WITH The general nssss of tho funds on which
they hansact business. The srsument sur
poses that The money collected Soc taxes mu.,
Toe preserved in iientiIy; hut that 10 impos,i.
bic oitsh b. do. MAY not The collector give
the anal Sh; nss ~hI,h he has received iron,
one tax payer 10 smother tax ps,er, 90 enable
nin TO Sn-ci his Psy nent' May he not change
gold Tor sitter, or rae ts'Sa. or both, if he be
d'.iAbt collector. Ia Obtain an unidentified re-
mii'snos 70 the public Tressuryi What, sir.
President, u the process az making dspo.iie.
wa. bsnksi The dcPositc 10 ulaJe, ADD n
credit ~ catered fcr is amount 10 tho Co.
sernmeoi. That credit IL supposed TO be the
sxset equivalent of The amount Deposited
ready snd forthcoming to the Governnep,
SheneSer 70 SaS wsrtrd Zoe the purpo.e of
disbursement. - 10 iu,mAieriaI 10 tie Govern.
uent hsthsr II Teeeises back again The idsn-
''esi money put an, or other money Of eqnaI
VSlns. Al that /; wapis u v bet 10 out IA the
bank. - ia equivalent; and that, in ordinsr,
iiinea, Sith such prude "a bsuks 80 alone ought
20 De selected. u u sure of getting. Again /:
ihe Treasury has frequently TO make remit
'anres u foreign countries. 10 meet tho. sx-
l'endiiurs necessary there for our naval SQUAD
rons' and ether purposes. They are made
10 the bakers. 10 tie Barring, or the Roths.
ehiid'. IN the form of bills OF exchange. nur.
chased an the market by the sgenis Of Ihe Co
esrnmeni be:e, with money drawn out of the
treasury. Here isone eonver,.on Of the mo-
osy received from the tax Ea,hsrer into the
Treasury. The bils are transmitted 10 the
bankers honored. paid aud the amount credit
ed ny them To the Uniied States. Are the
bankers hound 60 retain the proceeds of the
hills in Identify Are they bound 10 AZ
moro than credit the Government for n, ec,,,t
amount. for which they stand te,poo.ibIn
whenever II - WHntedP If they should han
pen 10 use any portion Of those proceeas OF
b'is RENTED TO them in their banking one
rAtIon', would Il be drawing the money from
me treasury, contrary 90 the provisions of
The constitution The senator from South
Caroiina contends that there IL no constitu-
'ionAI power TO contract with the twenty -five
selected banks, a. proposed in the Gubairtute;
yet the deposIte act OF 1896, which obtained
The hearty appreciation Of that Senator. con.
tanned similar provision; and tho very bill
under consideration. so warmly supported by
HIN, provides, under certain contingencies. for
eonp acts TO be made with the State banks. 10
receive dePosiieS Of public money upon com.
pen'a'ioh. Tie objects To tie substitute. that
1t converts twenty Ave State banks in,o q avs
TEN OF federal institutions, but the empioy-
ment OF state institutions by the federal az.
'h"r,iy no more makes them federal, than the
employ ment Of federal institutions bvthe STATE
converts Them iuto State institutions TIL.
ma'uai aid. ADD ihis reciprocal employme Of
the several institutions Of the General and
particular Government, IL one OF the result,
and basuiies OF our admirable though com
PIeE s!sism Of Government. The General
6o'e'5neni has The uSe Of the capitol. court
horses. prisons and peniieniiaties, ia the Sc
'srsi STATES DO they, therefore, cease TO ap-
peitain 10 the St3lesl II il TO DO borns an
mind that although the State banks NAV oc-
es'ionally TO used by Inc federal authority.
their legal responsibility TO the several States
remains nnimrsiIed. They continue 10 be
accountable Ia them, and ,heir existence can
only DO Terminated or prolonged by the Stat.
authority. Add being governed, a. they are.
oy corporate authority smanatinE from and
amenable 10 State Jurisdiction, and not under
the control of the Executive Of the United
states, constitutes 81 once . great security for
TIE public money, and moro safety 70 the rub
TIC hoer:y. u has been argued that . sepsrs-
bnn OF the Government from the banks will
diwinIsh the Executive power. IL must ba
admitted that the euslodS Of the p-iblic money
90 various backs, subject 60 the control OF Stat.
authority, furnisae, some check uoon the no..
s'hls ABUSES " tie Executive Government
but Ias argument msiaisihs that the EHeeo-
tive has least power when u has most com.
r'ete Po,sea>'oa 81 the pu9'ic Treasure! The
Ne'2ior from South CAroiina contend. that
The separation b. question lax osce effected
TIE Relation Of Federal Government aod the
slate Backs will be shtagonistlcaL believe
90 Mr. PRECEDENT. That is the very thing
wish 10 prevent. ] want them 10 1--we IA
peace, harmony and friendship. II they are
7niagon'sis, how u ~ possible that the stat,
oanks can maintain their exi,tenee ag,in.,
the iTemsBduu. ~ flueuee r THIS Government I,
Especially. II this Cuvstnmsat should h.
backed 10y such vast Treasury bank as ys.
riiy believe this bill - intended 10 sreatsi And
what becomes Of the sTxumenI urged by as.
senator from South Carolina, and the sboIi.
'ion resolnl'ons offered BY him at an early %.
rios OF lhe Session. asserting that The General
SoVeTnmeni is bound 10 protect the domss,ie
Institutions of The several statssi
The sdb'tiiute u not, Thick, what The vel.
fare Of the eopniry requires IL may serve
the pnrpo'e "f good hllf-wnJ house. II.
accommodations appear far. aad with tbe
lveiing' ~ Wesried trsteIler. one mas be
tempted q stop awhile sud refresh himself
there. shall vote Tor NJ On amTndn,. III
70 Tie biil because ibslis,s u the least Of tao
evils. " q should indeed iniiet aay evil. O.,
ra'har, oersuss feel myself 30 the D J,ittnn Of
Paiisnt 10 Uhpm the physician prssent. ~
ore hsnd cup 81 arsenic. ami ia the other
suP 81 poi'"n reject ne Grst. because AZ
TIE instant death 9th which Il - charged.
take The latter. - being he Eo.t Harmless,
a"d dePend nPon ihs tis u,,agcalrir nslurr -
N"uia nav been great improvement in
ny "pHion' " ihs mode Of bringing ahs,e ,bs
re'umP'tpn of specie payments, contained N
ne SUBSTITUTE, were reversed. provided that
ne ooiss ~ certain number II safe sonnJ
and unqpesiion1bls banks 10 be elected sbosld
ne ioF1hsiih received. by The General Govern.
meni. in payment ~ 90 pubhc dues. and tba,
TIE seiertef hauk did net resume By H..
tuFn fTHf ted fnw H.