Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-10-23

sis ~ 49, itt.A 2 14et atta fsttftst-A -al1itE
iasnaa "a "a - 4 1 All a - go
tibd this system have nothind to do Ia
tlis fntisht, ibid ofgcodr MAXI 10
roluSns g il. olfthS eollectof5 deposii che
money n bank Tier have itpliced here %
their pwn PrlYafe credit AMI can cheek =
g my time ior Their own. privsle purpps.
Is. Under the deposits law oF2SS0, the
cclleciors and receiteFs Weta REQUIRED to
depbsils the Fsfen1e they collected "a
haulkyeHeiy week, 20 thea ef6lll &c The
Treasure of he United Stats, and, Of
course, when thus deposited, i could net
u touched by any one without tie autiios-
iiy of Treasury draft. The banks vert -.
sqditod 90 MAKE RED al rsiurnss tyVeek
Of &c dePosiies inside b tlIs collectors and
receivers; and By looking at these bank
returns, the Secretary could always detect
any delinquency on the part Of Che eoilec-
tors and receivers. Bat having tsepara.
ted Bank and State" Ito use the unusan-
ing slang of the day, be has separated the
public moneyffom allqqrts Of safeguards
over il. The collectors can at any time
use the public money without the govern
ment's knowing any thing about it; and 4
L should bemisapplied orehnbezzled where
isthe security Tbs collector at New
York collects during the year, about
IL, oO0, 900 dollars, and he gives security
ia perhaps fifty OF one hundred thousand
dollars, the penalty Of his b0ndl
The banks under the deposite law,
gave any security that was required, be.
sides the security of4he whole. amount Of
their capitals. The government was PER
lectly secure and will not lose by them a
single dollar, unless by one Of the Seere-
tary's family banks at Boston.
But this great invention Of modern e.
nance, which is 10 iitnniortalize lis wise au.
+thors- athe separation Of Bank and State
why, what perfect farcevit isl Il i
supposed that the people are 70 be eternal-
i. made the dupes Of hnmbugs, and TO be
deceived by the sound of catch phra-
sesl - =
The whole amount Of this new disco.
very in finance, ofs'seperaiing Bank and
State, - consists in deprixing the govern.
ment Of the means which the banks would
afford il Of detecting misapplications d
the public money, and the better security
offs safe keel ing. In every other parti-
cular, the connexIon is just as great as j
ever was. Is not the revenue at this tins
paid in bank paperl Is itnot deposited il
bank by the collectors at their own privatt
credit, provided they don't think proper L
use il. And cannot the banks use II, o
bank upon 10, Ito use another moderl
phrase when thus deposited in the sam
way they, did before, if it suits their inter
est to DO sOl The revenue S collected i
the Treasury cannot trust the banks Wit
the keeping of their own paper! Unde
the deposi,e law, when the money wa
placed at the credit of the treasury in banl
the government had the right to draw j
all out in specie whenever it chose to d.
So What more can it do now with the
notes of tho banks in the hands of The
collectors and Feceiversl Is the COVE n
ment any more secure now. by. holding
the bank notes, than Il was before, when
it held the bank returns and certificates
of deposit? What Is. a bank note but az
evidence ola debt duel And is not abanl
certifirate of deposite the same thing il
sustained of what conceivable benefit
then, canit be to the government, to have
its revenue scattered over the country
in the hands of receivers and collectors
without having any check over them what
ever, when the revenue is collected IN banb
paper! In our opinion, a more unwise
and indeEensible Encouragement offinan,
cial affairs, and keeping at unnecessary
risk of loss and plumber Of the public mo
neV never has characterized the cOnducf
Of any government upon the face Of TIE
earth, than that which has governed tht
affairs of this marion for the last eightetl
months Can the people submit to ii
Will they permit party rage and discipline
and the corrupting patronage Of this Exc
cutive Government, to disgrace and ruiz
their countryf a So
The question IS now full before the
People, whether they will continue to con
troll their own revenues as heretofore, OF
whether they win resign the whole into
the hands Of the executive, to Use and dis
pose of it al discretion. In coming to the
decision Of that question, let the people
not forget that their own future liberties
are Immediately identified with il. 9
& $50 g - 49,. laf5f
{ ARNoLD,s CHiEDREN. III has been &c
nerally understood that the fspsily Of Be
1nedict Arnold have enjoyed q pelsiof
from The British government ever since
his death. "A recent official report from
d COMMITTEES Of Parliament, states thar tive
sons of the traitor Of the revolution are
now living IL England, and that they
are ii the receipts sof q joint pension q
Eco. One ofthe sons, times RI IS 81
years Of age, and tie other William 3
uIcr Woak.-A gentleman who rs
sides ia SchuylkiIi county, % this State, 7
pa through this city On tuesday, az
Dire sd Us letter Of business from whlcl
We extract The following
81 left New York ia The Great ; NJ St
ern steam ship On Thursday the. LOT
August, ST q Quarter past Eve O'clock i
Ifh6 afternoon and arrived 81 Brlsto
"a lie morning ol fhussda1
son August; from thence went g BIZ
ham and -ieerpoo then Gro ed g
Irish sea 10 Ddblin lhence e tas Guy
ondondergy and lastly cut into e
mount IFS o D1neea lle most norther