Southern marksman., 1838-12-18

Rnecie payments, IS now not less applrebt
than IT'S tendency to increase inordinae
speculation by sudden expansions and con,
fractions; its disposition 10 create panic ana
cmbarrassments for the promotion OF It's own
designs: its interference with politics: and
its far greater power for evil than for gooa
either IN regard To the local institutions" I"
the operations of Government itself. Wha'
was in these respects but apprehension OF
opinion when national bank was first es
tahlished. now stands confirmed by humll /
iating experience. The scenes through
which we have passed conclusIvely prove
how little our commerce, agriculture, man
nfaciures, or finances, require such an in'
,siitution, and wha, dangers are attendant
ON its power--a power, trust, never TO be
conferred by the American people upon
their Government, and still less upon IN
dividuals not responsible to them for its un
ayoidable abuses.
NV conviction Of the necessity offurthet
legislative provisions for the safe keeping
and disbursement of the public moneys
and nv opinion in regard TO the measures
hest adapted tc the accomplishment or those
objects, have been already submitted 60
you These have been strengthened BY
recent events, and in the full conviction
that time and experience must still further
demonstrate their propriety. ! feel it my
duty with respectful difference 10 the con-
fcting views of others, again TO invite
your attention TO them.
With the exception Of limited sums dc.
Dosited in the few banks still employed un-
der the act Of 1885, the amount received
for duties, and, with very inconsiderabe
exceptions, those accruing from lands also,
have, since the suspension OF specie pay
ments by the deposte banks, been kept
and disbursed by The Treasurer, under his
general legal powers, subject to the super-
jntendance of the Secretary Of the Treasu,
nv. The propriety of defining more spe
cifically and of regulating bv law, the ex,
ercse of this wide scope of Executive dis.
creiion, has been already submitted to con
gTess.
A change in the Office ofcolleclor at ore
of our principal ports, has brought TO ligh
defalcation of the gravest character, the
particulars of which will be laid before GOV
In special report from the Secretary d
the Treasury BY his report and the ac
companying documents, ii will be seen tha
the weekly returns ofthis defaulfng office
apparently exhibited throughout, faithful
administration of the affairs entrusted tC
his management. 1T however now appears
that he commenced abstractiug the publ,
moneys shortly after his appointment, anC
continued TO do so, progressively increasing
the amount, for the term of more than Sc,
ven years, embracing portion of the pc,
riod during which the public moneys were
deposited in The Bank of the United States
the whole Of that of the state bank deposilt
system, and concluding only on his retire
ment from Office, after that system had sub
siantiaily failei, in consequence ofIhe sps
pension Of specie payments.
The way in which this dedication wa
80 long concealed, and the steps taken Il
indemnify the United States, rs far as prac
ticabIe, against loss, will also be presented
to you. The case is one hich impera
tive claims the attention OF Congress. ans
furnishes the strongest motive for the es
rablishment of a more severe ard secur
system for the safe keeping and 'di5burse
ment Of the public moneys than any tha
has heretofore existed.
1t seems properct all eyenls, that, by a
early enactment, similar 10 that of othe
countries, the application of public none
by an officer Of government to private use
should be made felony, and visited wit
severe and ignomininus punishment. Thi
is already in effect, the law IN respectto 1T
mint, and has been productive of the mos
salutary results. Whatever system is adop'
ed, such an enactment would be wise, a
an independent measure, since much q
the public moneys must, in the re-coIec
tlon and ultimate disbursement, pass twic
through the hands Of public officers; il
whatever manner they are intermediatel
kept. The Government, ii must be admit
ted, has been, from lis commencement!
comparatively fortunate IN lh.5 repect Blu
The appointing power cannot always be wei
ADVISED in its selections, and the experience
OF almost every country has shown tina
public officers are not at all times proc
against temptation. 1t is a duty, there
fore, which the government owes, as wei
10 the interests committed to lis care as 4
the officers themselves, TO provide ever,
guard against transglessions of this charac
Ter, that is consistent with reason and hu
manlty, Congress cannot be too jeaou
OF The conduct of those who are entruste'
win the public money, and | shall at al
uihes be disposed to encourage watchfu
discharge ofthis dusv. If more dlrec
cooperation on the part Of Congress, in tn
supervision Of the conduct of the officer
entrusted with the custody and appicatio