Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-12-17


,,... and trn,i In severed respects 70 strengthen the
..h,,r .rrotii. n. requiring the officers now en-
tsa, cd N selee an> hull tlnst OF the money Tor
Time In fei,e.ife.i inpis ons afi o. Tue agents IN
Der s,iher of tie ftiiuef systems and hence, DIS
,-,.;.- y IN Tie banks. unless 4 NAY be FOR few
..,,e, .,s,ial depasies. asoids fnusi. II not all Of
an. tsl> ana lass.s aeh have been sustained from
,ha, class III agents
4, !, rae tia, under Tins plan IL IS contemplated Ia
,,,nnse On collecting officers The dnts Of keeping
.amemhat longer. few cascs. ard IN sums some
,t,, lsrrrr In others ia. isoury "bth, under the
oher systems siuce 19-9 f>e officers live collect
I'd and three OF four Offices are proposed
10 be es,abiishrA to bod general receipts IN defeslie
Al few central points. These changes arr I'll the
material ONES uhich have been recommended Gu
,b,s point But 10 increase The pubic seeini1s I'M
der all duties ut~ old, as vel as l1ose oil any
new agents annie bonds 10 be required oers-
.,opal examinations oil Their funds and accounts, oil
new and rigorous character. introduced, the use OF
the former strictly prohhied. and new and severe
,.n,l,ss nd he imposed fraud. falsehoo Il ~
,e,urus n enibt zzements by rendering them pen
ilenisiy offences
Honest diligence suffer bs these
changes wle oareitssness IN business aud laans 81
principie vii be prevented, exposed and properly
iebuked.
Additional safe guards like these also Of vital
Importance 10 morsl view, ts more ieeuslls Pre-
venting well Furnishing "foue.
They aie. therefore, earnestly urged again on ihe
fur her security or other important eB3s one al tie
most desirable aitefa winch IS incatPufated mo
the plaa OF an independent ireas y provides tiiai
any use Of the public nancy lar private purposes be
hereafter considered illegal. aud punished a. dan
rerous breach 81 trust. The experience 81 tic lasi
few Yeats demonstrates tie ptapfiefs OF such an OF
rsnie change m our system. ehuttef and whatever
NAV he the fiscal agents employed ne eh'nge'
90 lar respects mere ealleenHg AMI Disturbing
officers will lave decisive tendency 10 preserve hoi
only tho Government. bni them aud theif seenniies
from those losses nhiei II nHs never contemplated
the, should hazsfd. BY makirE loans sftenlaflens
with funds held IN sacred iusi Ton purposes entntis
public IN ihrir character. aud CONSTANT 10 ihet De
mapds Had such a provision ben adopted eailf
In our lerisafion doabiless II would baFe prevented
most if not al. ot the losses heretofore sustained
from those classes IL officers. aud much "reiched=
ness which las befaen both rflns pals and sntehes
Some Of the eaiest acts oi Congress wisely ptetfn
ted officers Of the customs ard 81 The Treasury DE.
par,meut from being concerned m eonm.fee. of
dealing 90 the pubiic lambs public sfofks Ihrsr
rss,ticiinns YER dauh1fefs Introduced ehedy With
VIE. to remnf. Ile temptation and hszard Heiient
to the possession al The pubic money Bnl lie
prohibition 10 employ thai money ief private pnflo-
ses under se,eae petsiaes, ha- na Vel been INTRO
dnced. excrp. IN substance 10 the Nun, by making
einbezzleinents lhrre punishable leloules. L.
espedrency has bren nfgrd IL the Department befe-
toiote, AMI seeafs Continued by ekrtnenee as vel
a. Theory. Tie soeesss et snth rfatfslon IN the
Mint trfe LOSSES from rs tsabl lshu#eni To III
present moment have fuf many ssafs. AID tittf
having tie custody Of may millions al money.
been known 10 oeeur very sinking Illustration Il
IT. efficacy.
F,sdmc TIA, 10 sei tbs and ssme smilar
points passtd - Congress Al late session.
rneul4r, bearing on tl.ent. wasissaed by hs Depart
alter TIC adjournment, cory OF winch Is
sune,rd,
lnrezard 10 dero.ite agents heretofore cousisfine
chiefly Of banks, tie change tIum toruler usaEes
Which would be introduced hy such ptuhibtfiou.
would be greater. But tie present condition Of the
Treasury aud of iht country Is mebly ausplelous
fur the reform. Eiminisbcd tie balance Of the
pubc morcy row on hand. aud manifest the
policy ol the Government keep hereafter, The
apparent p.ruulay disadvantages caused elher 10 the
banss 10 tleIr customers ould be sightt t0an a.
any former peuod.
In the mean time. and under thr speeul1nng ina
MA ofthe ayr lie alteration would yield most vi
liable protection against the recurrence Of disastrous
adventures 50 Ear stimulated by tin more easy
loans OF such funds. through bank repositories, and
against the consequent losses 10 tie Institutions them
seses. as well bansfnp'tcs aud miset, 10 pupel-
Gus individuals.
Above all other considerations IN favor Of thls
chang, II Ne advert 10 sound political econ
oms, will be is influence removing every temp
ta,on to the dangerous disposition TO taxes
OF revenue on account Of their incidental use Tor
sstance aud capital Tor private euierpfses. liwoud
ass restore Official practice 10 the theory of the
Ionsniu'nn, winch, ~ rs PRIMITIVE puf1st mus
undoubtedly have intended thai The public money
should be collected solely lor public purposes. and
should be ktpi, not ur the tmoumelt oil ifdn dual,
oreorporaons, bat Tor the s,nsle object oil meeting
with prompiliudc aud idens, Tie obligations Of The
Government
Originally, tie departure IN Practice from this
theory was not, ~ any case esenln implied erns al
lowed by Congress l. WIS p.fnuied oily by eaily
construction al the Treasury Department; aud IN
rotation To deposie banks aioae, lor the benefit
through them, of The mercantile interest, which
constituted ter rnucil al customers aud onnefs.
Bat since the estlagnisbment OF the national debt
and the accumulation d large balances IN the Trea
sury, this departure has been expressly sanctioned
by Congress, 10 lie deFoslte act OF l~:6. and had
tended, very undest suedly, without doubt 10 place
the Government IN the ilsfdlnus attitude Of a great
money lender OF us cnrtenl funds. rather ihan of a
surplus aud that lof the apparent benefit nol OF pub
he bodies, such as Sa'es, or Of all persons equally
but oil particular corporations and pstllenlar classes
OF society immediately connected with them. Be-
sides this. the public servants. however stnpulous
have thus become exposed 10 the grossest mpnfa-
tons OF iayorlilsm, partally and corruption. IN ma
king these indirect loans. A radical change ~ the
system, this respect therefore, desirable aud
by preyeniing any individual pnrate etpoyment
Of the public money would Ter both The possession
and the superloiendenee OF 1t, when are now OBJ
Jecis Of just jealousy. but nake ed powers and
by their great responsibility, dangerous only then
possessors. They would become entirely useless
for either political Influence private emoulment,
and could contribute nothing 10 the deprapod appe-
tie oil the age for power and spec uation.
But important rs ate the eventual safety of the
Pno'ic money aud pnrity OF character IN lis manage
'nen II nusi be manifest. from the remarks already
gia - II, i5.t