Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-09-11

fatal bereses of Federalism II Congress- any depa'
ment or officer of the Government, can, IN place I
,pecifc thing discreon substitute an e4utTa'eH1 M
oil the spceiEc provisions Of the Constitution may c
planted, at the discretion of one. or all The depai'"''
combined, by the substitution OF their equtH'e"ts 10 MO
Sir all the doctrines and arguments oil hose WIN, r
TESS 10 belong TO the Republican party, anu y E n,s
bank agency and paper medium 10 W, pJncy. thev
and dsbursemen,s of strong feoeta.
lead inevitably, 10 an admission OF t Tt a;n,oin ,hsi
and necessity of a National Bank iney ''a r -;
hank .uencv i. essential in the COLLECTION, sae heePs'
transfer and disbursement oil the ,e'en"e -, I'D ss,,
p.r currency convertible into eoiu nhp s'H'', 90 IT,
r;; far ood and silver, is also Indispensable IN 'he
tqatoa ; -. fer and disburs Of the revenue
NJ Mr. Chairman, Chief Justice Marshall would
Cam ,rsn.es no, so strong and pointed, easily ana 10
gicuy deduce the conclusion .sa' we? VIZ I'LL 90
The duly of Congress 10 establish Nd'"hal banh "s
nroper convenient useful and necessary appur'enahce
Of the revenue power. "a, =, ,l,
| do no, mean to charge my colleague hr GhIiahul
o all his pnIitical associates on this question, win any
wish or Intention to favor the establishment OF such an
institution p, prpsrnt He has always dsclamed 1t
dsclams it now and | am satisfied OF his sincerity
was however showing as might lie g't"a'eIy 90 a"u
as | think have successfully done, that the creation OF
such an institution must be the ultimate result, the a
conclusion, of all their arguments and doctrines
In the long departure of the Government from Tue
true rule of duty and in the systems and practices wc
have CROWN up, am fally aware that the nap's' Gus!
ress and interests Of society are involved III coh
Gated end intimate connection. n" man IS more Srhs'
bic than a that, in the application OF principles now
irup theory We ought WbSl CdItIEiG survey
al, the difficulties and distractions presented BY The rx
is,iuu condition of things Whilst would not, IN de-
auce of every obstacle and regardless OF consequences
press an immediate adoption oil avore system IN al
lis parts neither would renqnsh all hope and all ei'
fort abandon i, in despair because il was not at once
wholly Practicable Existing difficulties, caused ny the
errors and defects Of The past cannot justify chahse OF
abandonment of principles founded IN rum anu !"
the Constitution 1t is rather the duty OF The Statesman
and the philosopher, sincerely convinced and h'm Of
purpose strengthen his de'ences by reason and as
lcn,: and to pruceny and gradually, WIN me
least Inconvenience and injury the dhcutes when OPP
pose the introduction Of his system la obedience 20 the
suggestions of prudence, and from desire 10 avoid any
shock or injury TO ;he Interests OF The community, lie
bill undsr consideration proposes, very gradually an en-
tire dsuse o: the paper currency for me use oil e fea
sury and a complete restoration Of the constitutional
Standard and thus after long OF error 10 etrac
the Government, in the management OF the hnances |"
the simple duty prescribed in the nsirurem! defining It's
powers.
Mr. Chairman, objection has been urged that this
separation Of the Treasury from the banks will require
additional number of officers and will increase the
patronage of the Executive Sensitive as may be the
public mind the sub OF patronage II is yet Too IN
tegent and too patriotic 10 be deuded into an Gban-
Comment q! wise End constitutional measure by an
uuOunded clamor. 1t relies for xecuon, Ike every
other measure upon officers competent IN capacity and
Member c0nSjtutionpNg appointed, and conStntionaHy
responsible Ample personal security, The solemn sane
lions Of oats. liability 10 removal from Office the Ger
OF punishment for offences the dread OF exposure
and dis rnce-these are the guarantees, whIch WIZ, III
the general capacity and hdety. snail we sur
render the belief long and universally entertained
in America that man in has natural person. and IN his
individual responsibility Is worthy OF trust and c"n'I
dence capable of executing the ordinary functions OF
civil Government: Shall surrender this theory oi
Republican Government an mpracticabe speculation
idle dream, and N utter despair commit The vital
of this extended Confectionery 10 associations
o converted by legal magic into bodies polite and
corporate with chartered projections known to the Go
agents only their artificial character,
whereby responsibility is diminished, and the difficulty
OF applying the restraints and coercons of the law
greatly increased In lieu Of the vast and complicated
machinery Of bank agency, our bill substitutes only some
nine or len additional officers The increase Of patron
age be exerted through these few additional officers
OF the Treasury Department. rig'dy prohibited from US
ing employing any public money IN their charge un'
der any prcence, for private purposes, dwndlfs into
insigni;icance, compared with the almost ncalcua6e
influence which may be secured by an alliance between
the banks and the Treasury Take the favoTle number
Of the depnste banks-lwenty FIVE; multiply these By the
whole number of officers stock holders and debtors too
in each the extent OF corrupt influence and patronage
into which this system may degenerate Is absolutely np
pal.inG. The public attention cannot be diverted from
The conen pla,ion OF this supendous combination, so
ccp,ible Of sinister influence, and so tempting 10
designing Secretary, by the a1uul and causeess cry
Of Executive patronage over nine or ten officers let
tered with legal restraints Look at the numbers oil
upulcnt merchants, capitalists stockholders. and stock
jpbbers who may, under The operation of this system
be brought into financial and probably, POLITICAL union
and concert, with The Secretary as common head. 1t
would seem that the genius of Hamilton had awaked
to revive lhose fiscal systems and arrangements which
kept host of commercial and wealthy individuals en-
bodied and obedient the of the Treasury,
and which the advocates of free Government and The
enemies of corruption have heretofore assaI!ed
Mr. Chairman, under The separation OF the banks and
the Government proposed TO be effected by the bill un
der examinations "a regular statement and account OF
the receipts and expenditures OF all public money Will
be practicable. All the artificial conclusions ahd "ga!
constructions Of former systems, which, III most cases
were confused and urnielIs ible to The mass, will be
avoided. A plain system of accounts 50 anxi"Gsy de-
sired BY Mr. Jefferson will be introduced and the object
Of the Constitution fulfilled IN requiring Puolcauoh,
from time lime. OF the account curcnt IN The liea
surv The great body of tax payers will see and under
stand the Whole operation Of the Treasury.
The strict inhibition against employing any portion
of the revenue in trade business, will every
nducement to taxation; asuperluliy ut epe
nue. beyond the economical wants of The Government
will neither be desired by Congress permitted by the
people The transfer of revenue in no way connected
with trade commerce. from points OF collection 10
places Of expenditure, produce no Inconvenience,
shock revuson. No charge can with justice be pre-
feFrsd that the financial operations OF the Government
have interrupted business pnra yzed commerce, and de-
strovsd credit. No class of citizens section OF the
u S can complain CT palali,y in the benefits 10 he
derived from the OF the revenue whilst all alike
excluded from any such favors. All unjust diScluilna
lions in the local currency all improper interference in
its regulation, Will be avoided and the States without
impeachment assistance, may proceed in its rcnrma
ton, according to their OF duty aud policy
The strict adherence of the Government, in all It's mo-
ney Transactions TO the common standard will furnish
both the of value and the example of enforc
ing il, which the Constitution intended, and will be
persuasive to the States 10 confirm to it, than my
direct attempt control and regulate their diverse
rency. Finally the organization and management Of
the Treasury according 10 the Constitution will be 10
exercise and vindicate the tight and capacity Of the
people of the States respectively govern themselves
and to emancipate their Federal Government from bank
lhradom
FOREIGN.
(From The Boston Mercantile journal
LATEST FROM LivERPonr-'rhe shin Susannah Cum