Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1838-03-22
MIR. Claws Speech.

dent, 10 sustain the first four propositions
with which sat out. nov proceed 10 the
fifth proposition
S. That the bill under consideration 10 in.
tended to execute Mr.. Van Buren's pledge,
TO complete and perfect the principles, plans,
and policy, OF the past administration, by es.
fablishing, upon the ruins of The late Bank
Of the United States aud the State banks a
Government bank, TO be managed and CON
troiied hy the Treasury Department, acting
under the commands Of the President of the
United States.
The first impression made by the perusal
OF this bill is the prodigal and boun.iless dis.
cfetion which IL grants to the Secretary of
the Treasury, irreconcilabIe with the genius
OF our Tree institutions, and contrary to the
former cautious practice of the Government.
AS originally reported, he was authorized
10y the bull to allow any number of clerks he
thought proper 10 the various receivers gen.
eral, and TO fix their salaries. II will be
borne in mind that this is the mere CONS
mencement of system and il cannot be
doubted that, il put into operation, the num-
Der, OF receivers general and other depo..
tarles OF the public money would be indefin.
itely multiplied. He is allowed To appoint
as many examiners OF the public money and
TO hx their salaries, as he plesses he is al.
there is no estimate Tor any thing and ali
who are conversant with the opera ions OF the
executive branch of the Government. know
The value and importance OF previous esti-
mates. There is no other check upon " aste.
Iui expenditure but previous estimates; and
that was poin! always particularly Insisted
upon by Mr.. Jefferson. The Senate W III re-
collec, that, few days ago, when the salary
OF the receiver general at N. York was fix.
ed, the Chairman of the Committee OF Fl.
nance rose in his place snd stated that il was
suggested by the Secretary of the Treasury
That II should be placed at $4,000; and the
blank was accordingly ST. filled. There
was no statement of The nature or extent OF
the duties 10 be performed, of the time that
he would be occupied, Of the extent of his re.
eponsIoill'y, or the expense OF living a, the
several points where they were TO be locat-
ed; nothing but the suggestion of the Sec.
Rotary of the Treasury, and that was deemed
ail-sufiicient by a majority. There is no
limit upon the appropriation which is insde
to carry into effect the bill, contrary 10 all
former usage, which invariably prescribed IA
sum not 10 be transcribed
"A most remarkable feature in the bill is.
that to which | have already Called the al
tention OF the Senate, and of which no salts.
factory explanation has been given. II is
that which proceeds upon the idea tho, the
treasury is thing distinct from the treasure
OF the United States, and giving to tho Tres-
sury local habitation and a name, in the
new building which is being erected for the
Treasury Department, in the city of Wash
l"gion In the Treasury, SO constituted, is
TO be placed that pitIance of the public re>
venue which is CLEANED from The District of
columbia. Ali else, that is 10 say, inc hun
N in III. , l.
lie revenue Of the United States, is 10 be
placed il The hands of the receivers.general
and The other Repositories tey.na the District
oil Columbia. Now, the constitution of the
Oniled States provides that no money shall
be drawn from the public Treasury but IN
virtue OF previous appropriation by law
hal thrilling portion OF il therefore, which
IS within the District of Columbia, will be
under the safeguard of The cor, ti,u,ior.. and
al! else will be at the arbitrary disposal OF
the Secretary of the Treasury
u wos deemed necessary, 10 doubt. to vest
IN The Secretary of the Treasury this vas, and
alarming discretionary power. a new and
immense Gnrernment Bank is about to he
erected How il would work in all its parts
conii not he anticipated with certainty and
u was thought proper, therefore, 10 beslow n
discretion commensurate with its novelty
aad complexiiy, and adapted to any exigen-
c!es WHICH might arise. The tenth section
of The hill is Iha; in which the power 10 Gre
ale tank is more particularly conferred
IL 10 short, and will read il 10 the Senate.
Sec. 10 Hnd6 it further enacted, That
II Shall be lawful for The Secretary of the
treasury to transfer the money in the hands
OF any deposilary hereby constituted, to the
Treasury of The United States; 10 the Min,
at Philadelphia (; TO the Branch Mint a,
New Orleans; or TO the Offices Of either Of
the receivers.general of the public moneys,
by this act directed 10 be appointed 10 be
There safely kept, according TO the provisions
OF this act and also to transfer n,oneys in
Mehands Of any one depositary constituted By
this act TO any other depos,ta,y constituted BY
1hs same, Ar HIS DISCRETION, and as The
safety OF The public moneys, and the conveni
encs ofthe public ssrvics, shall seem TO him to
require. And Tor The purpose of payments
on all The public accounts, il shall be law full
Tor TIE said Secretary TO dra,U upon any ofthe
sad depositaries as he may think most condu
cue TO the public interests, or TO The conye>
nieoce Of the public creditors, or both"
IL will be seen that il grants power, per-
fsciiy underlined, to The Secretary of the Treas
sury, 10 ehift and transfer the public money ,
from deposItary 60 depositary, as be plesses
lie is expressly authorized TO transfer mo-
Deys IN the hands of any one deposiary, con-
sh'uied Try the act, 10 any other deposilary,
constituted by il, othis discretion and as The
safety Of the public moneys and the contents
encs Of the public service shall seem 10 him TO
require. There is no specification of any
contingency or contingencies on which he il
10 act. All Is left 10 his discretion He ;s