The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-03-30

Il y. AAss Tue Oill under consideration rs
intended 10 execute Mr. Van Buren's
pledge, 10 complete and perfect the
principles, plans. and policy Of the past
administration, by establishing upon the
ruins Of the late Bank ofIhe United States
and the State Banks. a Government
Bank, 10 be managed and controlled by
the Treasury Department, acting under
the commands Of The President Of the
United States.
The first impression made BY the
persnal Of the bill is the prodigal and
boundless discretion which il grants 10
The Secretary Of Ihe Treasury. irrecnn.
cilable with The genius OF our free insiilu-
lions, and contrary 10 The former cautious
practice oflhe Government. As original
" reported, he was authorised BY The
bill % allow any number Of clerks he
thought proper 20 The various receivers
general, and 10 tx their salaries. II will
be borne in mind that this is The mere
commencement Of system; and il cannot
be doubted that, il put into operation, The
number of receivers general and other
repositories Of the public money, would
be indefinitely multiplied. lie is allowed
to appoint as many examiners Of The
public money. and 10 fix their salaries,
as he pleases; he is allowed TO erect at
pleasure costly buildings; there is no
estimate for any thing; and all who are
conVersant with the operations oflhe ex-
ecutiye branch Of the Government. know
the value and importance of*previous
estimates. There is no other check OPP
on wssiefnl expenditure but previous
estimates; and that was a point always
particularly insisted upon by Mr.. Jeffer-
son. The Senate will recollecl that. a
few days ago, when the salary Of the
receiver general al New York was fixed.
The chairman Of the committee on finance
rose in his place and stated that il vas
suggested by the Secretary Of the Trea-
sury tina, il should be placed at $4,000.
and the blank was accordingly 50 filled.
There was M statement of the nature or
extent Of the duties 10 be performed, Of
the time that he would be occupied. oilhe
extent Of his responsibility, or the cx-
pense Of living al the several points where
they were to be located; nothing but the
suggestion Of the Secretary of the Trea-
sury. aud that was deemed all sutiicicn,
BY a majority. There is no limit upon
the appropriation which is made to carry
into effect the bill. contrary to all former
usage, which invariably prescribed sum
| not 10 be transcribed.
| A most remarkable feature in the bull
is that TO which have already called The
attention of the Senate. and Of which no
satisfactory explanation has been given.
Il is that which proceeds upon The idea
tina, the Treasury is thing distiac, from
the treasure Of the United States. aud
gives to the Treasury local habi,aiIon
| and name, in the new building which ~
being erected for the Treasury Depart-
ment in the city of Washington. IL the
| Treasury. so constituted. is 10 be placed
that pit.ance Of The public revenue which
is CLEANED from the District Of Columbia.
! an else. that is to say, nine hundred and
nineiy-uine hundredlhs Of the public
revenue Of the United States. is TO be
placed in the hands Of the receivers gen.
eral, AMI the other repositories beyond
Ithe District of Columbia. Now, the
constitution Of the United States provides
tina, no money shall be drawn from the
public Treasury but in virtue Of a previous
appropriation by law. That trifling por-
/ ton of il, therefore, which is within the
District OF Columbia, will be under the
safeguard Of the constitution, and all else
will be at the arbitrary disposal Of the
Secretary Of the Treasury.
Ii was deemed necessary, no doubt, 10
vest in the Secretary Of the Treasury this
vast and alarming discretionary power.
A new and immense Government bank Is
about TO be erected. How it would work
in all lis parts could not be anticipated
with certainty; audit was thought proper,
therefore, 10 besluw a discretion COM
mensuraie with its novelty and comPlexi-
". and adapted to any exigencies which
might arise. The 10th section Of the
bill is that in which the power to create
bank is more particularly conferred.
Il is short, and will read ]. to the
Senate.
/" Sec. 10. And be il further enacted,
Tha, il shall be lawful for The Secretary
Of the Treasury to transfer the moneys in
the hands Of any depository hereby con-
s,i,u,ed. to the Treasury Of the United
States; 10 the Min, al Philadelphia; TO the
Branch Mint at New Orleans; or to the
t | Offices Of either OF the receivers general
: OF public moneys, by this act directed to
, be appointed; to be there safely kept ac-
! cording TO the provisions Of this act; and
! also 10 transfer moneys in the hands OF
/ any one depository constituted By this &C.
a 10 any other depository constituted BY the
same, at his discretion, and as the safety
: ofthe public moneys, and the convenience