The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-03-08

from ours. Mr.. Leigh does Indeed say
- In my opinion, the trainers Of The Constitution had
thought Of any bank agency whatever STATE or ede
raj either for facilitating the operations Of the treasury
for regulating the currency aud, that 70 administer
the Government IN the true spirit Of the constitution
aud according the intention OF Us founders, ihs lrea-
su ought be divorced from all connection with BANKS
State federal
What theni Why the public moneys, from the
time Of their receipt 10 the time OF their disbursement
amounting they often do, 10 ten or twelve millions o.
dollars must remain in the hands Of individuals, dpp0in
ed By me President and memorable az has 1h Aud this
comes from who has eagned with scores Of others
10 dcnounce the President usuTper and eoTenner
Of the constitution aud laws because he claimed Tor the
Executive the custody Of the public money 10 much
more limited sense He has never claimed that u
should be in the actual keeping OF Executive officers
but only that il must be at their credit aud within their
control under s9ch restrictions Congress may nm
pose some bank or banks other places OF deposite
But Mr. Leigh thinks that according 10 the true spirit
OF the constitution il ought TO be kept ~ their PocGefs
chests or paas, where they can approach e every dsy,
and use 1t without the checks OF warrants drawn cou-
ersgned registered aud recorded. aud passing through
many hands, without which, not dollar can now be
touched by public officer, not even the President
himself, We do not agree with Mr.. Leigh 10 me OPT
MON, that il the intention OF the constitution 70
leave with the Executive this most dangerous control
over the public moneys. II we did, not having the
flexible political conscience Of this wise Senator, we
should be Obliged insist that, this subject, Also
the constitution should be restored TO It's original mean
ing, and the unauthorized constructions which have
been engraed upon il, Topped off But Mr. Leigh ieels
himself under such necessity Thus does he excuse
himself for abandoning his reading Of the constitution on
this point. viz; 4
- At the same time, have no expectation that this
principle will ever be acted to It's full extent The
friends Of the State banks, the friends Of National
Bank and the supporters Of Executive claims TO power
tk.. Abalatu
will never agree that the immense sums yearly paid IN
for revenue, shall, between the time OF collection and
the time Of disbursement, be wholly unemployed and
unproductive'
If Mr. Leigh has reference TO the friends Of Presi
dent Jackson when he speaks Of the supporters OF the
Executive claims power he may be assured they
will man be anited against any such monstroas ae-
emulation Of pocer orer the public moty. ichich such
plan loo,lid throw INTO THE HANDS OF THE
EXECUTIVE And We venture to allrge, that had
such suggestion come from Gen Jackson, II would
have bcen fung through the Old Dominion with the re-
terated alselouds about the Proclamation and the Pro-
test as conclusive proof Of all the aspirations which have
been charged to the Hero OF New Orleans See (they
would saw hoto he mShes 70 pm the Pubhc money d.
really into me PALMSof his friends and parnzaHs,
INSTEAD of keeping II on deposuc m banks, Theace
cannot be dre,ca for aay othtr Than Pabic purposes
,sithoui tcriain deiee,ioa' IL such case shoud
Jeei tha ne PEOPLE HAD JUST CAUSE FOR
ALARM and onehi 10 gre iher most lcdffht"t aHea-
non 70 snch an gBG1 10 ENLARGE EAECuIigE
POWER, AND PUT IN IFS HANDS The
MEANS OF CORRUPTION. And are these the
principles upon which Mr. Leigh expects 10 return to
the Senate from the land Of Jefferson"
IN the same ar Ice, abiding TO MIR Leigh, the Globe
said y He says will never vote for any measure
whatever that will tend increase the patronage, pow
er. and influence OF the Executive We are glad 10
hear this, because is declaration that he Will not vote
for The mid aud dangerous sehtme he has himself sug-
gested
Again, saws the Globe, in the same article, :" Mr.
Leigh knows hst the President himself IS opposed to
the project which he ascrbes to his supporters lhey
(he friends OF the Presidency look to the gold and silver
as general currency--lo restrictions by the States
upon the circulation Of small notes.-the depose OF The
public moneys III the State Banks under the regulations
established BY Congrcss-dad 10 osc hunks 70 carry
on m future The domestic exchanges Of The country f0r
The accommodated Of The Government anil he people
The following is from the Globe commenting on
Senator Lcighs speech, delivered at the dinner given
to him at Petersburg. in October 1884
.'Wc appeal TO every frank, single hearted Vrginlan,
who has read this speech tell he what course
his Senator Intends to pursue, the Representative OF
Virginia IN relation the Bank Of the United States,
and the future repositories Of the public moneys Does
he intend to regulate by law the depostcs in the State
Banks! Or does he intend to propose and adhere to
his new plan OF subdvdlng the Treasury and creating
a multitude Of Treasnrers 70 keep The pubic moneys!
Or does he mean reesablish 10 some shape
the Bank of the United States We think 1t will per-
MEX The most clear sighted Of his TO per-
ceve amidst the fog Of this speech the path which The
honorable Senator proposes to tread
The ouy question which IS likely 10 De presented
TO Congress at the next session IS, whether me depo
sites Of public money the State banks shali be reg
lated by law or left as is, To Executive direction
Yet npon this question: the Virginia Senator IS fatally
siltnft While he Tits and things with the ralor
and Judgment of Don QnSotte he carefully avoids the
real question which lie will have to encounter IN the Be-
nate Whether he will vote TO curtal the power Of the
Executive in this respect as the PRESIDENT mas once ~
commended and probably will again, or whether he VIII
have every thing is, he does not condescend TO IN
form the people of Virginia. He ceralny leaves them
TO infer as we shall presently perceive that he Is Wholly
averse 10 the employment Of the State Banks, and will
oppose all legislation which tends to settle the question:
and render the present system permanent
"What then, viii he do! lie declares to US expl-
CITY what sort Of system Of repositories, according
TO his opinion the Constitution intended. and delineaes
its features in the following passage, VIZ
".Jet a general Treasury Office be established at the
seat Of Government, under the management OF lrea
surer and local Treasury offices established IN each
Of the States many should be convenient under
The management of Assistant Treasurers; requiring
bond and security from the Treasurer and Assistant
Treasucrs for tho faithful performance OF their trust
lei the revenue he deposited in these Offices as II should
be collectedgve power TO the Secretary oil the lrea
sury 10 remove redundant funds from one office to
another where convenience should require them to he
power 10 the Treasurer to draw warrants
on any office he should think proper, guarding the
power by suitable and efficient checks-inake It en-
hezzlemen, and felony in hun wiliuly to issue any
warrant except under authority Of law, at the bidding
Of aoy person whatever; and make it emhezzlement
and felony in any Assistant Treasurer TO use Tor his
own purposes, lend 10 others, or pay away any money
except 10 warrants drawn by the Treasurer IN due form
Of law
This is the notable plan by which Senator Lelsn
would diminish The mower Of the Executive the
repositories Of public money Instead OF suffering me
President 10 anot onc Treasurer. he do.s now, he