Piney Woods planter and Amite union literary reflector. [volume] (Liberty, Miss.) 1838-1838, 1838-09-15
LIBERTY, NH, SATURDAY MORNING, !

GERS. In every Government under the
sun, the most free as well as the most
tyranical, the keeping and paying out
of the public treasure under the auth
ority oflaw has been considered an
Executive function. When before
was it thought to be dangerous 10 lib
" DO we find a trace Of such dan
germ the ancient Republics or the
modern; among the Greeks, in Rome,
in Switzerlan or in Holland? Was
such question ever raised among the
jealous patriots of England? Is it now
a ground Of jealousy or alarm in any
other Republic Of America, or in any
limited monarchy Of Europe? No such
danger was ever perceived, no such
question was ever heard of To origin
ate it required the inventive faculties of
our own ingenious countrymen, stimu-
lated by those lively principles ofhu-
man action, political ambition, and
pecuniary interest. 1t is not extraor-
binary that those who wish to profit by
the use Of the poblic money pronounce
it unsafe in any other hands, nor that
those who are in eager pursuit ofthe
prize of power join in the cry. But
all impartial people, who have no in
terest in being deceived, will only give
due weight to the argument and ap
preciate the motive in which it origin
ates.
What would be said in England if
some sensitive patriot, to prevent an
''union of the purse and the sword"
should propose to keep the money of
the United Kingdom in the Treasury
of Belgium, Hanover or Hollandg
Those nations are scarcely more indie
pendent of the British Government
and nation than our banks are of the
Government and people Of the United
States; nor are they, on some occa-
sions, more hostile than a portion of
the banks. Is it possible that a Gov
eminent which puts its means so com
pletely beyond its own cantrol, can,
on all occasions, perform its engage
ments, keep its faith, or protect the
people by whom it is established, and
whose nancy supports it, 1t has here
tofore been doomed enough that the
legislative power can, at will, diminish
the amount Of money to be collected,
and prescribe the regulations under
which it shall be kept. 1t has not
been considered necessary to establish
an independent branch Of the Govern
ment for that purpose, and least of all
to introduce foreign powers totally ir-
responsible to the people, often too
strong for the Government, and always
devoted to making money out of all
circumstances and vicissitudes. To
make keepers of the public money out
of such materials, is in character with
those kingly notions which would give
to our State banks monarch corpora
ton for a master. upon the plea that
the people cannot control them.
1t is objected that this is measure
ofhostility to the banks. The Govern
ment is not to be hoarder Of money.
What it callects it soon expends; and
it has seldom occurred in our history ,
that it has had on hand, OF the same
time more than six or eight millions of
dollars. 1t ought not TO continue any
system of revenue which will enable it
to hold reular surplus exceeding FIVE /
millions. Thi, is not more than large
bank finds it necessary to retain to car
ry on a safe business. The late bank
of the United States frequently had ,
had from ten to fifteen millions. For
years to come, it is probable that the ,
whole amount Of money in the Trea- I
sury will not average three millions. I
and will scarcely be equal to one weeks {
recent importation of specie. tits idle !
to suppose that this can materially af- S
feet the operations of the banks.
The only mode in which their opera
tons will be effected is, that they will i
no longer have the privilege of lend |
ing out money which is not theil own.
Is the withdrawal from them of this I
privilege necessarily an act Of hostili- I
tyf A farmer has been in the habit I
Of depositing his moneyin a bank, but
as he could not get it to pay his hired {
hands when he wanted it, the bank
having slipped payment, he concluded s
that it was more safe, and more Just to /
his creditors, to keep il himself. Was I
there any hostility to the bank in that i
1t is just so with the Government. The
banks had lent out the public money, {
and could not collect it. With mill {
ions nominally in the Treasury, the (