The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-12-05

IT'S AFFAIRS HAVE BEEN CONDUCTED
THE RECENT AND OTHER DEFALCA-
TONS OF COLLECTING OFFICERS THAT
HAVE OCCURRED DURING THE LAST
FOUR YEARs--INvEsTIGATIO
Never, in our opinion, since the first loun-
dation Of the Federal Government, has duty
Of so important character dcyolyed on Con-
gross, an that OF an immediate and thorough
investigation into the present state of the
Treasury Department, and the manner in
which its affairs have been conducted during
the past few years. Il is not subject which
partakes Of party character at all il is one Of
serious and deep import, Of purely National
character, and Of National fiscal concern.
We have but recently discovered, or il has
but recently been publicly promulgated, that
nearly a million and half Of the peoples
treasure has been distracted and squandered
by single officer Of the Federal Govern
ment! That there has been negligence of
the grossest kind, somewhere, no one can for
moment doubt and that blame, Of the
most objectionable character, attaches to
some Of those whose duty it was TO have
watched and detected this monstrous pecula-
ton, while in its incipient state, the single fact
itself carries with il the most indubitable
proof
Through the columns Of the official organ,
we have seen the attempt made to make
Messrs. Ingham, McLane, Duane, and Ia
ney, equal participators in blame with the
present incumbent Of the Treasury Depart
ment, Mr.. Woodbury.. We have also seen, at
the same time, an effort made to implicate all
those who have filed the places of first comp
GLIDING the present incumbent and not omit
ting those who have gone to their long homes,
to render up an account Of the deeds done
here, to the searcher Of all hearts.
Through the columns Of the same organ,
we have seen il more recently stated, that the
principal part Of this vast delalcation has taken
place since the administration Of General
jackson terminated. If such he the fact, then
Il occurred in the space Of less than twelve
months, between the commencement OF Mr..
Van Buren's administration and that OF the
New York Collector being superseded in Of
fee by another and also, mostly during the
period that the present favorite measure, (the
Sub-treasury,) has been declared from high
places to have been in full force and operation.
These facts alone, in our opinion, call for
calm, prompt, and thorough investigation.
We have seen the charge made and often
reiterated Of total imbecilty and utter incom-
potency on the part Of the present Secretary of
the Treasury to manage the affairs ofthat De-
partment. We have seen il charged that the
department is now in state Of confusion and
chaos !: s''a .I--e are facts on record that but
too strongly demonstrate .,.~ proof of the
charges. Among them we refer TO the one
wherein the department could not inform the
Finance Committee Of the House whether the
amount Of suspended bonds was four million
or nine million dollars. This is proved by
the speech of the Hon. Mr.. Jones, member
Of that committee made in June last.
We have seen the loss Of vast sums of the
public money, by the defalcation Of receivers,
reported to Congress the last session, charged
to the want Of resolution on the part OF the
Secretary Of the Treasury, To take that re-
sponsibiiiy. which a proper discharge of his
public duties demanded accompanied with
an authority granted by that functionary to
those officers, to trade and speculate with the
public money while in their hands privilege
peremptorily denied and prohibited by his
predecessor.
We have on record the proofs, that the Sc
cretary Of the Treasury applied to the dePo-
site banks to aid him in devising plan to
loan out such surplusses Of the public money
in their hands as they could not, under the re-
strictions Of their charters, themselves loan
out. This too, at period when the expan-
sions in the money market were excessive,
and the speculntions that were stimulated
thereby raging at most fearful height.
We have il charged, land we think not
without good reason,) that to the ill-judged
and bungling manner in which the deposi,e
act Of 1856 was carried into execution, the
calamties in which the country was soon after
overwhelmed, are mainly TO be atlrit u,ed
added thereto, the attempt that was made in
the execution Of that act, to do that IN five
months, which the law gave twelve TO perform,
(the transfers Of the millions Of money from
one section of the country 10 ano,hcr,l step
condemned by all men Of sound practical en-.
perience, and oil the principles Of political
economy.
We have seen il proven, by the inyes,,ga-
tons of the Legislature Of a Sovereign State