Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-09-15


money out Of the Treasury, and leave q ~ The peck
ets Of The peoule Is fehtlal owners nululudes Of
prsireis fr eFnendnr i would then never Be ihougt
OF ana others would never be pressed.
While. therefore, we deem il the duty Of every
Republican to oppose unnecessary appropriations
and expenditures, we iook % proper regulation o.
dutrs and lsxes to be lsNed and enlecled from the
Desplr, a. the only effective remedy and preventive
OF pubic extravaganza. Duties on imported mer-
ehandseI though paid in the fire.. instance by The
merchants, come finally out Of the pockets 81 the
people, as much as G they were dires, tai lad on
lands and personal property. We hold that Il Is
lhe duty " Congress 10 aseertain nearly prae-
tcable, what an economical administration of the
Government, ought TO cost 10 graduate the duties
or taxes in such manner not 70 produce a surplus
beyond that sum- and TO vary them in conformity
with that principle, Is the changing circumstances
Of the country may require. We hold, that when
Congress establishes, suffers 10 exist system OF
revenue which collects from the people more money
than the public service economically managed, ne
eesarily requires, they pervert the Government
from its true object, violate their duty to their con-
slkuents, and commit upon them the same wrong
which monarchs perpetrale upon their subjects,
when they seize on their money goods to support
unnecessary wars, or minister to their pleasures,
their tastes, or their passaons
AZ present. we have no Surplus IN the Treasury,
equal 10 its accessory expenditures. IL IS our earn
est desire and determination, as far A. our own
opinions aHd appropriate acts can avail 10 cut oil
The possibility Of any surplus hereafter, not BY ex
tending the expenditures, but by lessenng the re-
ceipts And whenever the expenditures can be les
sened, Also withouta palpable injury 20 the puelie
service. we are in favor Of diminishing them, and
the receipts in an equal degree making our Gov
ernment as cheap To the people as possible, and as
poweress for mischief az il shall be cheap ID il adj
mnistration.
We rejoice 10 see that many Of the recent great
causes Of taxation are fast disappearing The pub
lie debt is now fully paid, and the people entire
~ relieved from that burden. The extngUishment
VI the Indian titles TO lands within the States and
Territories the removal Of the Indians TO the West
Of the Mississippi aud the Indian wars, in which
the United Stateshave been recently engaged. have
necessarily produced great expenditure Of the |
public treasure. These will NJ doubt, shortly be
brought TO close and This heavy drain upon the |
Treaiury Of the UAited States, oil course, cease
and many other causes Of expenditures are rapidly |
terminating.
One u the strongest temptations for the collection
OF large revenues, and the continuance OF which IS
most to be guarded against, would be the deposte
Of the public money in the banks
II deposited in banks nominally for safs'keep.
anE. but really TO be lent out to their customers,
the banks will have an interest in swelling The
amount, because, by lending, they receive prof
IL upon III and their customers will have an IN
forest in the same policy because they can Dor.
row more money. and get more indulgence by IT,
by these means money may be wronguliy taken
from It's true owners by the Government, not for
the public service, but ~ be devoted 10 private
purposss exclusively.
The people may be taxed that the banks may
have moro money TO lend, and their customers
more to borrow. Weare opposed 10 taxation for
such purposes. We deny the right Of the Gov
ernment to take tho money Of tho citizen and
hand il overto tho banhs 10 DO used BY them and
their customers, in their private transactions.
The taxing power was not granted for such pur.
poses and when such are its results, reform
should be the watchword Of every Republican.
We are in favor Of su;h changes in our fnan-
cial system, as will efec,ually prevent tho appi
cation Of public money 10 private purposes. Tho
means Of accomplishing this great reform, are Of
less importance than tho end TO be obtained. We,
however, perceive no means so effective and Ger.
as to Let the Government keep its own money,
by fundamentally Of its own officers, who shall
DO put under bonds, with heavy securities, not 10
use or lend III and, ia addition, making Y! highly
penal In them so 10 do. II is not perceived why
the Government cannot make its money Rs So
cure as bank. All the usual means Of security
enjoyed by the banks arc within It's reach; 10 ,
addition 10 which, il has absolute power over the
persons OF its agent, which the banks have not.
Banks cannot, by regulations, punish their cash
icrs aAd cerks Cor lalthlessness and crime With
the penllenlary or otherwise but the Govern
.mntn NJ all hudlnOa |
walls, vaults, bolts, and other safeguards which
the banks can and, IN addition, may dispose Of
the personal Liberty Of its iaithless agents accor-
ding to ia viii. expressed through its legislative
and Judicial authorities. Why, then. may It not
keep its own money as safely as the hanks can
keep theirs, or that deposited with them That
it can do So under proper regulations, is too OBJ
vious to be doubted Besides, at places where
il might be more convenient, the use OF the bank
buildings themselves could be secured, still pre-
serving the public money from private uses
Why, then, should not tho Government keep
its own money! Il is objected that the keeping
Of lis own money would dangerously increase
the patronage Of the Executive. IL II possible
any one can believe that the appointment OF ten
10 twenty officers and clerks, involves more ex-
lensiye and dangerous influence than the power
directly to affect the psc2nia.y interests OF the
sight thousand two hundred an ninety bank 9th,
GERS. the three hundred and seven,cen thousand
stockholders, and the SIX hundred and FIJI; hi'ee
thousand dcbtorsi That power the Executive
has. SC long as he is authorized to place the pub
lie money in banks, to be lent out for private pur
poses. Although all the bank, cannot DO depos.
tories, all think they fad their interest in an ex-
tension Of the credi. system, by the aid Of public
money and in addition thereto, all are subject
uAder such : system, 10 the influence OF hope
and fear from the iavors or irowns Of the Pres
deaf or Secretary oil the Treasury. It is not by
keeping the public money that Government ac-
quires influence or power, but by spending or