The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1838-02-14
THE DIVORCE BILL.

The true question mt issue between the
two ants gonist parties in the country, is
simply this shall the revenue Of the coun-
try be placed in banks, and loaned from
them to the merchants and sp-culaiors, or
shall it be put into Treasury and kept
there dnless drawn nut by appropriations
made by law. The President has rrcom.
mended the latter course, u bill to that ef-
feet has been reported to Congress, and the
democratic party are desirons Tint it should
become a law. The opposition to the Ad-
ministration parry IN Congress, and the
federal party and its presses throughout
the country, nre in favor of the former
The financial affairs of The country have
been so long connected with banking ins,i-
tutions that n powerful bank influence has
grown up, and this influence is, to cons d.
erable extent, now on the side of The feder.
nj party, and hence they are opposed TO
the Snb-Treasnry Bill
The idea which is held out by the fed
eralists that the passage of this bill would
increase the power of the Executive is Ut
erly fallacious.-This will he seen by n
moments consideration. The whole bank
power could be welded by the Executive
| IN moment, as il were, throughout the
country, If the Administration would but
put the Treasury into the vaults of the
banks. The moment the Administration
recommended course which would des-
troy this monied influence through The
banks, thar moment The individuals con-
nected with the banks, who had pretended
friendship for the government, were its
most bitter opposers,-they would have
been, To all appearance, the wiiiing siares
of the Executive could they but have the
governments money. Could stronger ar
gumcnt than this he offered in favor
of disconpec,ing government from banks
The recent bank failures, The Com m on
wealth Bank of this city and others, show
conclusiveIy that the funds placed in banks
aged by friends of the presen, Adminstra-
ton, as the federal papers endeavored to
prove, the argument would l,e still stronger,
for if an Administration cannot trust its
friends, most assuredly it cannot trust its
enemies.
Why canno, people look into t+lesc things
little : We believe they will /; and that
the Sub Treasury Bill will be one of the
most popular measures ever brought for
ward. No greater proof coul! be offered,
in our opinion, of the honesty of purpose
and the soundness Of republican princi-
pies Of the President and the Adminis,ra-
ton, than the recommendation of the en-
tire separation Of Bank aud State.
One word further in relation to the in
fuence which this measure will give to the
Executive.-How can the appointment of
n few additional officers increase the Infiu-
ence %: The Executive BY giving them
in charge to keep (not to use) the funds IN
the vaults of the Treasuryl They can not
use the money. To spend it is punisha-
BILE by hard labor in the States prison.
Where then is the influence to come from
No where. I, simply takes the funds from
those who have used them for their own
private interes, aud power, and for pol'ti-
cal purposes too, and places them where
they will be safe and where they will no,
give any set Of men any influence or power
which does not belong to them. And
hence it is that this measure receives such
bitter and unwarrsnted opposition. FROM
what quarter does this opposition come !,
From the very men who have been using
and who would continue 20 use the public
funds for their own private interests and
political purposes. These facts cannot for
any length Of time he Kept from the pub
lie. The people will look into this matter
and decide IN favor Of COMPLETE AND En-
TIRE SEPARATION OF BANK AND STATE.
Boston Adrocats.