Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1838-03-23
MIR. CLAY.
on THE SUB TREASURY BILL.

at great length in opposition to the bill Our
limits do not ALLOW us TO give it entire (; we there
fore have selected that portion Of il intended 10
illustrate the practical effects Of the measures upon
the people and The institutions Of the country. The
following are his propositions:
lst, That il was the deliberate purpose and fixed
design Of the late Administration TO establish
Government bank "A Treasury bank-to be adj
minislcrcd and controlled by The Executive Depart.
menl. 81. That, with hat view, and TO that end,
il was its aim and intention 10 overthrow the whole
banking system, a. existing in the United States
when ila, Admnst, alton came into power, begin
ming with The Bank of the United States, and
ending with the State banks. 81 That the attack
was first confined, from considerations OF policy,
10 the Bank Of the United States but that alter
its overthrow was accomplished, lit was then direct
cd. md has since been continued, against the Sta'e
hanks. 4h That the present Administrations by
ia ocknowIe,ir, menjs, emanains from the highest
and mos, authentic source, has succeeded to the
principles, plans and policy, Of the preceding
Administration, and stands solemnly pledged TO
complete and perfect them
Having fortified these by numerous and pertinent
quotations from the several messages and letters
Of Gen. Jackson AMI Mr.. Van Buren,, he proceeds
10 the consideration Of his 9th proposition.
5, That the bin unler consideration is int end.
ed 10 execute Mr.. Van Burcns pledge, to complete
and perfect The principles, plans. and policy Of the
past Administration, by establishing, upon The
ms Of the lae Bank Of the United States and The
State Banks, Il Government Bank, to be managed
and controlled by the Treasury Department, acr ing
under the commands OF the President of the United
States.
The first impression made by the perusa
of the bill is the prodigal and boundless
discretion which it grants to The Secretary
Of the Treasury, rrcconcileoble with the
genius of our free institutions. and contrary
to the former cautious practice Of The
Government. As originally reported, he
was authorized by The bill to allow any
number Of clerks he thought proper to the
various receivers general, and to fix their
salaries. II will be borne in mind that this
is the mere commencement Of a system
and it cannot be doubted that, if put into
operation, the number Of receivers general
and other deposI'arles OF the public money
would be indefinitely multiplied. IIn is
allowed to appoint rs many examiners of
the pubic money. and to fix their salaries
as he peascs he is allowed to erect at
pleasure, costly buildings there is no csti-
mate for any thing; and all who are con-
versan, with the operations Of the EXecu.
culive branch Of the Government know the
value and importance OF previous estimates.
There is no other check upon was'etnl eX
pendture bu, previous estimates; and tina.
was a point always particularly insisted
upon BY Mr.. Jefferson. The Senate will
rccollect that few days ago, when the
salary of the receiver general at n. York
was fixed, the chairman Of the Committee
on Finance rose in his place aud stated that
it was suggested by the Secretary of the
Treasury that it should be placed at s. 600;
and the blank was accordingy 50 filed
There was no statement Of The nature or
extent Of the dl,ies to be performed, of
the time that he would b. occupied, Of the
extent of his responsibility or the expense
of living at The several points whore they
were TO be located; nothing but The sug-
cestion of the Secretary of the Treasury
and that was deemed all suicen, by a
majority. There is no l,mt upon the
AUTHORIZATION which is made 10 carry INFO
effect the bill, contrary to all former usage.
which invariably prescribed sum no, to
be transcribed.
A most remarkable feature in the bill is
that 20 which have already called the
attention of the Senate, and OF which no
satisfactory explanation has been given
1t is that which proceeds upon the idea
that the Treasury is q thing distinct from
the treasure Of the United States, ant
gives to the Treasury a local habl'a'loI
and name, IN the new building which /
being erected for the Treasury Department
in the city of Washington, Ii the Treas
ury, so constituted, is to be placed lha
pttance Of the public revenue which i
CLEANED from the District Of Columbia
All else, that is to say, nine hundred an
ninety nine hundrcd'hs Of the public reve
nue. of the United States, is TO be placed i
The hands of the receivers general and tn
other dcpositarles beyond the District G
Columbia Now, the Consli,ul ion Of tn
United States provides ,ha, no money sha
be drawn from the public Treasury bu, j
virtue of previous appropriation by law
Tha, lrlflng portion Of it, therefore, whic
is within the District Of Columbia, WI
be under thy safeguard Of the Constitution
and all else will be at the arbitrary dispose
Of the Secretary Of the Treasury.
1t was deemed necessary, no doubt, t
vest in the Secretary Of the Treasury tn
vast and alarming Discretionary power.
new and immense Government bank
abou. to be erected, How it would wor
in all its parts could not be anticipate
with certainty; and It was thought prope
therefore, to bcstow a discretion CONNER
sura,e with its novelty and complex''y' al
do II oil II nvLunnnIh. lIGl q