Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-08-21


uniformly prac,ised upon by every administration
the foundation of the Government, can be overthrow
by the unfnnned and unjust eulogy which he made up.
on the British Government, referred TO by the gentle
from South Carolina there is too much proprrty
and gond sense in the Interpretation be shaken by
that which neither fact argument but addressed 10
the pejudcPs Of the heart and IT, the gentleman from
South Carolina alleges the genius of Hamilton STAMP.
ed upon our whole banking system, think he will find
another genius equally distinguished as strongly i'm.
pressed upon them mean MIR. Calhoun who now "a.
The doctrine of the gentleman, and who was the
very first that proposed 10 make bank notes receivable
in payment Of the public dues. by law
feel well satisfied, from the varinus circumstances
which attended The progress n national affairs and the
many embarassmens and difficulties in which Govern
ments may be involved that could AVE been de-
signed by the Constitution 10 take away from the Go
vernment all discretion upon this subject, and contne
il 10 single medium. The great embarrassmenls and
Inconvenience which would have resulted TO the Co
vernnent from such restriction re too moniics, to re-
qnire argument and clearly disproves any such design
The power to control the medium comprehends the
power to restrict it, which leaves it should do the
whole matter under the control and the discretion Of
the Government Much weight is due To the opinion of
MIR. Hamilton upon this subject both from the fact that
he among The wnrmest and abes champions Of The
Constitution, and was familiar with The offsets of Con.
gress in passing the act of 1889
The second leading objec, of the bill is 10 place The "a.
cep, eusody and Disbursement IF the public m0nsy in the
hands IF tie agents of the TREASURY la commencinp hi.
remarks upon this branch of the subject the honorable
gentleman from South Carolina (Mr Picken,) with
much significant emphasis, inquired whether The Go.
vernment not eapahe Of keeping its orn money. |
answer, yes; aud when admit that, | ADM, NOTHING
which in The slightest degree affects The question: for Sir
the Government selfis conducted by and so must
the public revenues be received kept and dsbursed by
and whether it be in the keeping Of or
the banks, in the keeping Of the Government for
must he kept in either BY the authority Of law The only
question is, where it will be safely kept and mos,
punctualy restored The agents of the Treasury are not
the Government, nor are the banks the Government:
either will be mere agents and the other nual Of
necessity be resored and The only question is whether
the one or the other be the safest
The first argument in favor Of The employment of in.
dvidual agents is that they will be officers Of the Go
vernment, responsible to it, In the discussion Of this
part OF the subject it should be borne in mind tha, the
banks are artificial legal persons and have the
power TO make contracts incur liabilities and 10 and
be sued, that individuals have in all matters coming
within the pale Of their charters of Incorporation The
only difference is, that they not crimnay punsha
bic. To the same extent that individual agents in be.
coming custodiers Of the public money, will be officers
Of The Government will The banks for either will be
cusodiers Of the public money by contract What con-
'titutes the responsibility Of public ocers Their LA