The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-02-17


The country whose instructions exhibit The
most unqualified example exlant Of centrali-
saiion--under which the capital has swallow
ed M the provinces, aud Paris has become
SYNONYMOUS with France. But il is equally
fitting that such a system should DO resisted,
TO the last extremity, la this land OF Repnbli-
can freedom, by all who are attached To the
rights Of the Staies-by all who are opposed
10 the enlargement Of Federal and Executive
power-and, by all who watch with jealousy,
and view with alarm, every tendency 10 can
Soiidati0a.
| will now, Mr.. President, follow the Sena-
tor from New York, Mr. Wright,) IN the re-
marks he made on the comparative safety OF
the two systems proposed, for keeping and
disbursing the public moneys. Although ex-
perience, the only safe arbiier, has long since
settled this question, the honorable Senator
argued il as ii il were still open Ia doubt, and
made. am free 20 admit. an exceedingly
ingenious and plausible argument lie in
stituted parallel between the two systems,
in re- gard to the great leading points on whcih
their safety is supposed 10 depend, and in each
instance brought out substantial equality.
First, as too6icers he said it would be fartopre-
sumo that the officers OF the government and
the officers Of the Banks would be equally
trust worthy-Then, as TO SaretieS, he said
bon the banks and the government officers are
equally required TO give sureties, II deemed
necessary. So, likewise, as TO vaults, the GO
vernment officers, he said, are TO be provided
with uguiiS, as well as the banks. The only
particular, then, in which the banks, as he
alledged, could be supposed to present better
guarantee for the safety of the public funds,
is that their capital stock is pledged for the re-
endorsement Of the public moneys committed
to them; but this advantage in favor of the
banks. he very adroitly balanced by what he
represented 10 be the RISK of mingling the
Government funds with those of trading cor
porations. Now all this is very fair and
plausible on the surface. But what is the
fact-what is the testimony Of experience r.
Whiethe honorable gentleman was running
this parallel in theory between the two sys-
TENS, there was document lying on the
table Of the other House, which had run the
same parallel on the surer foundations Of
practice. | alll.de to recent report of the
Secretary OF the Treasury, in answer TO call
of that House, at the Extra Session, made on
the motion of an honorable friend Of mine,
(Mr. Garland, of Virginia. containing list
of all "the receivers, collectors, or deposit
tories Of the public money, who are in default
to the Government, with the amount of their
respective defaults, &c" What, Sir, does
this document, which now have before me,
show? That the whole amount of balances
due from banks, which are deemed unavaila-
BILE, is little more than one million OF dollars
(L0i6,649); and these balances go back 10
period long past, when the extraordinary
ADVERTISEMENTS consequent on the war IN
voved banks and individuals in difficulties,
beyond any former or subsequent example.
In relation tn the banks, which have been
recently employed as repositories, it appears
that they have either paid up all they owed
the Government, or are in the course OF pay
ing it up as called for by the wants of the
public service, withou, any apprehension Q.
default on their part, or availing themselves
Of the indulgence of the act passed at the
late Session Of Congress, have either secured,
or are expected 10 secure, satisfactorily, the
payment Of the whole balances due from
them. &C ording to the terms OF that act,
Only eleven Of them. it appears, out OF near
ninety employed as Repositories, have even
asked indulgence, under the act here referred
to- and but single one of them has been
ordered to be sued. Now Sir when we look
to the list of individual collectors and recciv-
ers-what do we sec An aggregate default
of about three millions and though some 0
the more recent balances appearing on that
list, may be reduced by future collections,
yet from the long standing OF most of them,
there is no reason to believe that the aggre-
gate amount of the entire list will be affected,
in any sensible degree, by these partial re-
coyeries, 1t is be remarked too, that this
list does not include disdursing o6fcers, whose
indebtedness" is stated by the Secretary Ito
be very great" and the actual losses by whom,
showed, during the late Session of Con-
gress from report of Mr.. Crawford, to have
greatly exceeded" a million and half Q
dollars, from 1889 to 1879, and by this time,
have grbwn up, in all probability, to another
aggregate sum of three millions Neither
does this list include officers of the Post
Office department, among whom it was shown
by official documents, at the last annual Scs-
sion of Congress that there were as many as
eighteen hundr ID and thirty-two defaulters
1t Is to be observed also, that this list is con-
fined TO public agents, . who were ont Of o6fce
on the 18th day of October, 1887"
Now, sir, if the Honorable Senator from
New York had taken the trouble to look at
this document, before he made his speech, he
might have saved himself The labor OF great
deal Of superfluous ingenuity. In contrasting
the ingenuity Of his argument with the blunt
contradiction of facts which this document
presents, | was strongly reminded Of an an
ecdote have often heard Of the late venera-
bic Bishop Madison, Of Virginia. That ex-
crllent prelate was also profound philoso.
pher, and much addicted to phiosophizing.
On one occasion, he undertook to explain why