The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-07-18
From lhe Columbia rs .C.l Teloyo,L

thanks 10 the giver of oil good things, is now trust
forever at rest might be difficult show how begin
ning as il Does with falacy, it would be likely to
end in truth Is The proposed disconnecton Of the
Government 1" from banks and banking operations, a
u0ree, has been pretended Of The political from the
money power II funds be put in the personal custody
Of individual OF, which is the same, the strong
bor Of his authorized and accredited agent to which he
has unresraned access, instead Of being disconnected
from them, they not, in effect, in his o,cn hands,
So far as the banks discontinued agents in the
receipt, transfer and payment OF Government funds
their notes refused TO be taken in payment Of public
dues, there is sepai att0n ffom them but is this di
Of The political from The money po,ccr? What, in
the mean time, has become Of the money power Of a
Treasury IN The personal keeping Of Ereeuipe agents!
If the Erecutire be the political and the Treasury the
money power, it would that the means Of being
united at least direct when II is in the hands Of
the creatures OF presidential appointment when the
money Is on depos,e IN bank where II could only be
reached through regular Of business operations
which could be identified from its books In sense
this Treasury iadepcndenf-but IN sense in which
no prudent man, acquainted with the precise method
and system essential to the receipt and pay
ment OF money, could wish; independent OF the hscal
regularity and order of institutions under perfect organ
cation and arrangement and controlled 10 their transact
ons by chartered restraints and liabilities independent
not only Of corporate organization but OF corporate dis
erection and intelligence; independent oil the man
agement of board Of direction, acting through forms
Of elaboration, which eeclually preventive of
fraud Of favosm, and eectua protection against
that personal impulse which often prevents individuals,
unconsntting and nnconsutted," from the faithful dis
charge Of public trusts And all this for what To
what end is this disconnecton dirorce,as it termed
in the OF the day To assume under its present
management, the forms Of EIeheguer, with the
substance Of Bank In effect, TO be placed in the
personal custody of the President, by being committed
TO the Keeping Of agents OF his appointment with the
impress of Government :. unit" stamped upon them;
q nd. of
his will Instead OF divorce OF the political from the
money power, ask, most emphacally, # this be not
establishing and direct form snd Justly
dreaded connection between the and The
sury, the sword and the PURSE and if influential
executive collecting from the country annual surplus
an CONS Of some twenty-five millions (Which he could
and would do under high duty system, got up and
sustained to strengthen himself through the agency Of
money! capable of transfer and condensation at will,
might not assume the character Of money King,
awning the monied institutions OF the country into servc
compliance, crushing under his giant foot the nsub
ordinate and uncomplylng Is it not familiar history,
that resistance to such influence attempted by Andrew
Jackson, the foundation of the which he com
menced against the Bank Of the United States Is it
not known that because Mr.. Bddle refused TO
General Mason from the Presidency Of the Branch
Bank Of New Hampshire for being opposed to Presi-
dent Jackson that he vowed an determination Of the
Bank Upon this point, avail myself with pleasure
of the testimony Of Mr. Calhoun, that vengeance
vowed and attempted because the bank "would not
ntermeddo on the side Of power" But in MOTTO
ing this refusal, which Is the first and only pracfi-
cal dip0rce OF the Government from banks and
banking operations is naturally led TO inquire how
many Secretaries Of The Treasury, servile and super
serviceabe they have provebiay become under the
recent doctrine Of removal, and since the expulsion of
Mr. Duane would have dared TO look their in the
face, and refuse to comply with his behesl " Iadc-
pendent Treasury" Divorce of the political from
the money power !" Really in these times OF perver-
sion, our very language seems to have been metamor
phosed. When funds are deposited and kept in bank
from whence they are never drawn by the President or
his agents, but through checks and without The
drawn being receiped for in regular and mcthodical
course of business the political and money powers
SAID to be uRed; but pu them in his Jreeches pocket,
or IN the custody Of has creatures, and DIVORCE IS
established Over my understanding for years past
Mr. Calhoun has had almost magic influence; but
wiser than Solomon could not impress upon a d.
rorce thus explained, in which things in juxtaposon
are spoken of as separate while, being removed, they
said TO be in contact If there be any separation,
it is that Of the Samcse Twins distinct, but connected
by an indissoube ligaturei
If destruction, however is to be taken regulation,
am free to admit that The Independent Treasury" is
an instrument sufficiently potent, to cqualize both the
circulation and exchanges Death is emphaticaiiy the
universal icpeicrand when this pestence shall spread
itself abroad over the land, is there any living
creeping thing that could go abroad under its influence!
!, for one, will never consent that rights already vested
in institutions already established should thus be put in
jeopardy, and perhaps be subvcrted TO answer end
that can perceive than to make the Government the
sole banker; nor am Unwilling to see 1t do the banking
OF the country upon any terms unless private capital,
sagacity and enterprise united with public credit in
the measure and above all am uvcrsc to the "spcce
provision" which seems TO be the apple Of Mr. Cal
houn's eye; for my solemn conviction Is that in its
working out 1t would effect transfer OF twothrds Of
the property OF the country and yet without it, the
special deposte (the antagonist system) would be a
mockery. Who ever heard OF the depose in an iron
chests Of bank credits, for security For the
keeping Of coin bullion, which depreciae (or
mere boarding, in other words) strong box will do;
but, the Government, thus relieved, ,hcncubus still rests
upon the country.