The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-10-03

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Iae present erisis-In many respects similar d
that OF 9S, but vastly more important, as to tn
question Immediately involved, and the magnitude
Of me consequences TO follow.
With great respect, ! am, sc.
J. G. CALHOUN.
Col, r. Ii. GOODWIN, Chairman, DC.
COLUMBIA, Sept 8, 1888.
TO Col. n. H. Goodaoyn, Chairman of Committee.
DEAR SR-I have had the honor of receiving your
leaer OF the 10th ult in which as Chairman of a
Sommit'ee OF Arrangements, you inform me tina,
tne Republican and Stale Rights citizens Of Rich
land district, in favor Of the separation Of Go
ve,nment from Banks, and the establishment of an
Independent Treasury, and opposed 10 The esta-
blishment OF National Bank and the advance
ment Of the Federal party TO power-being anxious
to be further enlightened by discussion of those
principles propose giving barbecue dinner at this
place, on the 9th Of next month in honor Of our
two Senators and immediate Representative In Con-
gress, when we may have the benefit of hearing them
on those important and agilaling subjects.
The Committee, therefore, on behalf of the Re-
publican State Rights citizens of the district respect
iuliy invite your attendance on that day"
beg you, sir, TO believe, that am very sensible
Of the honor in which am thus united with my
colleague in the Senate and our immediate Repre-
sentative; and ! appreciate the more highly this
honorable testimonial inasmuch as il IS apparent
from the definition which you give of the principles
of what you designate as the Republican and State
Rights party, that there is political difference on
some important points between me and those whom
you represent as know there is between me and
those with whom you have done me the honor to as
socate me. Those who offer the testimonial and
those to whom II Is offered-except myself-are of
The same party. That am thus remembered and
thus associated, is source of the highest grati6-
cation 10 me, l regard il as another signal proof
from my fellow citizens Of Richland district, of
the personal kindness l have always received at
their hands-and of their generous disposition not
outstanding difference q n
bear this public testimony TO the purity of my mo-
tives-and thereby TO rebuke the false and malig-
nant aspersions Of those who do not know me as
well as my neighbors, and are not capable of the
same just and candid judgment.
repeat it, sir, that receive with pride and plea
sure, the proof of kindness implied in your thus
associaing me with those TO whom your political
sympathies and appreciation are given; and in join
ing with you and them in common festival. /
should rejoice in an occasion Of showing that, like
those you represent, am incapable of making poll
teal differences cause of personal alienation or that
could Tor moment consider my principles COM
promised by accepting your civility In declining,
therefore, to attend your barbecue, am Influenced
by very different considerations. have already
been present at such meeting very numerously at
tended by gentlemen of all parties in this district,
when had the honor OF submitting my views with
perfect unreserve; and now understanding that our
immediate Representative is the only member of
Congress likely TO be present. am inclined to allow
him the same unchecked communication with his
", j
acquiesce in this course the readily in order
that may not seem to be drawn into a canvass in
this district, which would be inconsistent with my
position, and add to an excitement, which would
much rather aay.
As, however, you have intimated that my fellow
citizens desire to have my views, will briefly set
down such as are suggested by the opinions which
you attribute TO the Republican State Rights citi-
zens," whom you represent
With many Of them, am happy to say coin
eide, and will before conclude, point out this coin
cdence, but take up at first the less pleasing task of
stating the points on which we differ.
In the first place. them you say that 'the Republi-
can State Rights party" is in favor Of an Independ-
ent Treasury In this it is utterly out of my power
to concur with them-I am opposed TO an Independ-
ent and in favor of Dependent Treasury; depend
ent for It's organization and control upon the law of
the land; dependent for its conduct and admnstra-
Executive control dependent upon all the circum-
stances upon which the general prosperity of the
country depends dependent for its health and vigor
upon the health and vigor Of the community; ope-
rnt dJaa and cepiraled hv all the great
delicate sensitiveness as the Thermometer does
the state of the atmosphere dependent upon all the
great interests of Commerce and Agriculture; IN
word, would have the Federal Treasury identical
with and absolutely dependent upon the common
destiny; solemnly believing that to put 1t on dis
tinct footing would tend more to consolidate the
general government and seduce 1t into despousm,
than any measure that has ever been proposed
favor Of the separation of government from banks.
If by this it is meant that the Executive OF the United
States should be deprived of all influence or control
over these institutions which might be abused for
political and party purposes, fully concur in such
an opinion for a sad experience has admonished
the country that the party in power at all events is
not TO be trusted with the useof such influences nor
would be unwilling 10 see the money of the govern
Inent kept apart from the business of the Banks in
such way as not to be used for banking purposes If
we could promise ourselves that the expenditure Of
the government, and with it the revenue, could be
reduced TO an economical scale, no great injury
could result from either Of these sources for the few
millions Of government money on hand at one time,
would not be sufficient TO confer much executive
nor would it disturb to any great extent
The ordinary banking operations: AS however, the
of thirty nine millions of dollars at the
last session of Congress- Notwithstanding the crea-
ton of national debt for the purpose of raising the
money warns us that as long as our present rulers
are in power, any reduction OF expenditure is i'm.
possible; it would be desirable in the arrangement
of the treasury to guard against the mixing of the
public funds with those of the banks, thereby autho-
rizing the use of them as so much' bank capital
The first object, viz: the prevention OF Executive
patronage may be effected by law defining what
banks shall be used either by express designation or
by general description; aS, for example, all such
banks as used by the States in their fiscal opera
TONS or are guaranteed by the pledge OF State faith;
and the second object viz the separation of the
funds Of the Government, may be obtained BY
express siipulatons, the faithful performance Of
which may be secured by requistion of monthly
official statements of the condition and business OF
the selected banks, and by the imposition of proper
penalties Banking institutions, by universal con-
sent are the cheapest safest, and most convenient
agencies for the custody and tranfer of the public
money Every man who has money dealings, prac-
lically establishes this, by his own conduct in regard
10 his own affairs To effect this object, is one of
the purposes of their creation and they are, there
fore organized TO accomplish them by the most skill
full adaptation of means Large resources give them
more extended credit than in general belongs to in
diyiduas, and at once makes them more efficient
agents in the transaction of exchanges and more
RESPONSIBLE for the fufment Of their engagements