The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-12-05

mint, and has been productive u the most salulary
results. Whatever system Is adopted, such an en-
since much OF the public moneys must, In their col
lection and ultimate disbursement, pass twice
through the hands Of public officers, IN whatever
manner they are intermediatey Kept. The Govern
ment, IL must be admitted, has been from lis COM
meneement comparatively fortunate in this respect
But the appointing power cannot always be well adj
vsed in It's selections, and the experience OF every
country has shown that public officers are not al all
times proof against temptation. II lisa duty, there
fore which the Government owes, as well TO the In
ieress committed to It's as to The officers them
selves TO provide every guard against ransgressioDs
of this character, that Is consistent with reason and
humanity. Congress cannot be too jealous OF the
conduct Of those who Dire intrusied with the public
money and shall at all times be disposed to en-
courage watchful discharge of this duty. II
more direct cooperation the part OF Co gress, in
the supervision OF the conduct OF the officers intrus
ed with the custody and application OF the public
money is deemed desirable, II will give me pleasure
10 assist in the establishment If any Judicions and
constitutional plan by which that object may be ac-
complished You w 10 your wisdom, determine
upon The propriely Of adopting such plan, and up
on the me assure necessary TO It's efectual execution.
When the late Bank ofihe United States was incor-
porated, and made the depository of the public
neys right was reserved TO Congress TO inspect at
lis pleasure, by committee OF that body, the books
and the proceedings Of the bank In one OF the
States whose banking institutions are supposed to
rank among the first In point of stability, they are
subjected 10 constant examination by commission
cess Of lis banking system is attributed to this watch
| full supervision The same course has also, in view
OF its beneficial operation, been adopted by an adj
joining State, favoraby known for The II has al
ways bestowed upon whatever relates TO its financial
concerns. submit to your consideration whether
| committee of Congress might not be proftably en-
ployed in inspecting, at such intervals might be
deemed proper, the affairs and of officers
| infrusted with the custody of the public moneys
| The frequent performance Of this duty might be
made obligatory on the committee In respect TO those
officers who have large sums in their possession and
lei discretionary in respect 10 others. They might
| report 10 the Executive such defalcations were
found to exist, with view 10 prompt removal from
office unless the default was satisfactorily accounted
for and report, also, to Congress, at the
ment OF each session, the result Of their examina-
tons and proceedings. II does appear 10 me that
with subsection Of this class of public officers the
| general supervision of the Executive, to examina
lions BY committee Of Congress at periods of which
they should have no previous notice and to prosecu
ton and punishment as for felony for every breach
oftruSi the safe keeping of The public moneys under
The system proposed, might be placed on surer
foundation than it has ever occupied since the esta-
blisbment Of the Government.
| The Secretary Of the Treasury will lay before
| you additional information containing new details
on this interesting subject. To these ask your
early attention That il should have given rise TO
great diversity OF opinion cannot by subject of sur
prise Afler the collection and custody of the pub
| lie moneys had been for many years connected
with, and made subsidiary TO- the advancement of
private interests, return the simple and seIfde-
nying ordinances Of the constitution could not but be
difficult. But time and free discussion eciting the
sentiments OF the people, and aided by that conca.
tory spirit which has ever characterized their
course on great emergencies were relied upon for a
satisfactory settlement Of the question. Already has
ms anticipation on one important point al least
the improPriety ofdivertng public money to private
| purpoSes-been fully realized There is no reason
TO suppose that legislation upon that branch of the
subject would now BE- embarrassedb by difference Of
opnion or iail to receive the cordial support ola
large majority of our constituents. The connection
which formerly existed between the Government
and banks was in reality injurious both well
| 10 the general interests of the community at large.
laggravaed the disasters Of trade and the defange
ments of commercial intercourse and administered
| new excitement and additional means 10 wild and
reckless specuations, the disappoinments Of which
threw The country into commissions of panic, and all
! but produced violence and bloodsbed The impru-
dent expansion OF bank credits, which was the ma
tura result OF The command of the revenues Of the
State, furnished the for unbounded license
in every species of adventure seduced industry from
| its regular and saluary occupations by the hope OF
| abundance without labor and deranged the social
state by tempting all trades and profession. into III"
The same wide-spreading influence impeded also
the of the Government curtailed its useful
operations, embarrassed the fuflment of its obga-
TONS and seriously nierfered with the execution of
The laws. Large appropriations and oppressive taxes
are the natural consequences Of such a connection,
since they increase the profits of those who are al
lowed to use the public funds and make their nte
rest that money should be accumulated and expendi-
| lures multiplied 1t is thus that concentrated mo-
ney power is tempted 10 become an active agent in
political affairs, and all past experience has shown
on which side that influence will be arrayed We
deceive ourselves If we suppose that will be
found. asserting and supporting the rights Of the
community at large, in opposition 10 the claims Of
| the few.
| In Government whose distinguishing character
istic should be diffusion and equalization of It's
benefits and burdens, the advantage of individuals
VIII DC augmented at the expense of the Of the
people Nor Is 1t the nature Of combinations for the
acquisition OF legislative influence to confine their
interference TO the single object for which they were
originally formed. The temptation 10 extend il 10
other matters, IS on the contrary, not unirequenlly
100 strong To be resisted. The influence in the d.
rection OF public affairs, Of the community at large
is, therefore, in no slight danger of being sensible
and inluriously affected by giving to comparatively
small, but very efficient class, direct and exclusive
personal interest in important portion of the le
gisation Of Congress as that which relates to the
custody OF The public moneys. If laws acting upon
private interests cannot always be avoided, thew
should be confined within the narrowest Limits and
leit wherever possible, TO the Legislatures Of the
States When not thus restricted, they lead to COM
binaions OF powerful associations foster an inau-
ence necessary selfish and turn the fair course of le
gisaton to sinister ends rather than to objects that
advance public liberty, and promote he general
| good.
| The whole subject now rests with YOU and can
not but express hope that some definite measure
will be adopted at the present session.
IL VIII moi, am sure be deemed out of place Tor
me here TO remark, that the declaration of nv views
10 opposition to the policy OF employing banks as
repositories OF the Government funds cannot Justly
be construed as indicative of hostility official or
PERSONAL TO those institutions or TO repeat in this
| FORM, and in connection with this subject opinions
which have uniformly entertained and on all pro-
per occasions expressed. Though always opposed
to their creation in the form OF exclusive prvi-
q, raj nj M by