The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-11-09

Madlsoniau for the purrSse ofapprislng our
readers OF the system now IN operation.--
Whether lis elects be good or bad, whether
the money DO safely kept or stolen. one
thing is certain, that the revenues Of the
country are IN The hands and at the absolute
disposal of the Executive and his agents,
without law and IN direct violation Of the
whole genus Of our Institutions. The sys
ten, we say, may be good one as Is the
Russian system Of Government, but Il is
not Republican, the people have no control
over lit is subject TO the viii Of one man ;
1t, TO all mlents and purposes, eDises the
sword and purse in the same hands.
We ask the attention OF the country;
FrUm TIC Msd,seniss.
The situation Of the public money al this time,
scattered all over the United sisies BY the order
Of Mr.. Secretary " Woodbury.. in defiance Of the
public wall and IN eirec. violation Of positive
law OF Congress.
Congress having five times rejected the
Sub. Treasury scheme, which had for its
object (among other things) the keeping Of
the pubic money by Executive officers,
appointed by aud lIsble Ut any momsn, TO
be dismissed BY the President, neaTly every
body supposed when Congress adrarn.
ed, that, when the banks fcsumrd specie
payments, The desposite IaS OF 1886 would
compel the Secretary to revoke has circu.
lar, issued shortly after The banks suspend.
ed, requiring the Receivers aud Collectors
Ia keep lhe money, and that II would DO dc.
posted ~ bank 10 the credit OF the Treas
ury. as /, had been previously. But What
must be the astonlshnent ol Congress " ben
they meet " hat aust h. the iudlguaiiou
ui the people Of The unh,d States, a ben
they hear that The pubic monr, is scatter.
ID over the country IA the hands Of Rrcrlv
rrs and Collectors, and that noi . siugIe
deposllt bank has beeu selected, nor ~ Il
intended tina, ote shall be- sclrcird
Who can tell shai ihesr Receivers and
Collectors are dong atlh the pubic mo.
ney What - to prevent them iion w
ing a Nh check mas lhy Gosernu,rui
aver them under this beautiful 6uaucial s,s
TEN Of Mr.. Secretary " oodLut, They
make ihcIr own returns 10 the rrasuft
Department, aud state ~hai yhey please ID
hem. How can the Secretary know that
be money lhet represcu, 10 b. 10 lhcn
hands : actually there be bank, under
'his system nave uothIug 10 d. Sth tie
Government, and Of course make ~ returns
10 H. II Ihs Collectors depo.ile tic u0nr,
10 bank, the> have II placed here 10 their
oSn PRIV ate purposes. uder The dep.a,te
law Of l,3b, TIE Collectors and Rrcrncss
~crr required 10 depus,le The fessnue The,
collected 70 bauk. every seek, 10 lhe cr,d
II 81 the | treasurer of The Uur,rd Stale.
nod, Of cout-s' y hrn thus cepc-trd. At couIl
npt be touched b, any eag sEhoul The au
lhoriy ~ treasury draft, 1hr hacks
Scfr reqhnd 10 make regular return, e,
cry aerk u ,he dePlsiles made b, The Col
.eciors and Receivers ard. b, look.1s Al
'lt''c back returns The Secrriafy could Al
= a, dciecl any delaqorncy GA the part ol
the Collectors AID Receivers. Bui having
separated Bank and STATE TO u.e The
slang OF The Jay, he has spar
iied ne public mooney lrom oil sofis u
over It. Tho Collectors can al
~ time u.o the publse n,sa,py wihoni the
governments know ins any thing about a..
nd, It It should BE- misappietl OF einbszaird.
ahefe IS the security The Collector AT
New York collects, during the YEAR, about
900 dollars, and he gives security
q perhaps fifty Or one hundrcd thousand
dollars, the psnalty Of bis bond
The banks. under The dsp,stle law, payo
ny security that ~ss required, bes.dcs tie
seunty Of The shole amount of their can.
ais. The Government vas perfect, Sc
ure, and will not lose By Thorn single
ollar, unless by cue Of the Sccreiarys fam
y banks at Boston.
Butthlsgfeai enilon Of modern finance.
'hlch IS 10 'mnotalize ris wtsc authors
the separation Of Bank and State "-wby.
'hat perfect farce It 49, /. i, supposed
bat the people are To DO siernalIy made
he dupes Of humbugs and to be deceived
> the sound Of caleb phrases
ne sholc amour, Of this new discovery
tnance, Of separating Bank and State >
ons'sls IN depuslng The Government OF
he means which the banks would afford II
detecting Interpretations Of the public
ioney, and the better security of i, ! SAT-,
eep'ng' In every other particular, the
IS Just as great as ever II was.
not The revenue at this time paid 10 bank
aPer Is 4 no, deposited 10 bank by tho
'oiectofs al Their own private credit, pro
Idsd they don't 'hlGk proper to use il.
nd cannot tho banks use 1t, or bank uoon
Ito use another madam nb....A