The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-12-15

sure Of State policy the divorce Of the banks from the
Stale and the commitment Of the funds OF the Stale 10
The care Of ndiyidusls for safe keeping Is u nota a
question ask, that Il this policy Is not ADVISABLE 10
the State, why should be in the United Sates u The
connection with the banks is safe for the people Of this
State. why not for the people Of the United States l.
Had Mr. Swawout been in the practice oil deposlting
his daily receipts. could not have been prseucAoe iof
him to have appropriated million and quarter OF The
pubc money 10 his private USE had he yentured 10 haI
bor the design II would have been out Of his posses
son and tic temptation could neyerhay been strong
as when conversion and conceament were Of easy ac-
complisbment In the bank it would have been safe
in has hands IL has disappeared. This view oil the
question Is Of such easy comprehension TO the public
mind, that il can neyerb he eradlcated
Some OF the Locooco papers, and indeed some that
should be unwilling 10 class under that name, al
feet TO consider this defalcaion as strong argument
in favor Of the Independent Treasury, the title
by which il is supposed this measure has been lat
iery dignifed. We can conceive oil nothing more IN
sullng the planest dictates Of common sense, than
this position The amount Of il is, that because an
individual, entrusted with portion OF the public money
has absconded with million more OF II in his pos
session, 1t is reasonable TO conclude that the banks
are unsafe repositories, and that should all be commit
ted to the hands Of individuals where Il would be liza
BILE TO embezzlenient Ia like manner To such absur-
dities are demagogues reduced, who advocate mea-
because the oases ard fishes lie beyond II. The
Utica Observer falls into the additional error OF con-
sidering the Suo-TeasuTy pfincple auSanceu ny his
case, because Mr.. Swsrtwout was " whig conserva-
tive" aud was appointed 10 office against Mr. Van
Buren's expressed wishes What has defaulters po-
cs 10 do with his want OF integrity But that cir
cumstance could have any influence upon our mind,
might be to strengthen opposition TO the measure.
Who knows but Mr.. Clay Gen. Harrison may be the
President, and that all the Sub-ueasurers II the
law could be passed in the intermediate time, may be
wings and Conservatives All the revenues Of the
nation may yet be entrusted to wings and conserve
tves, who may make business 10 appropriate the
receipts Of the Treasury their private purposes ne
cesses speculaons and then take the wings OF the
steam ships to England This would be calanltous In
the highest degree and would provide against its oe-
by the adoption OF safe State Bank Depose
System, and then let who might be President neither
wings, conservatives, republicans loco-focos could
succeed in embezzlng the peoples money,
For further exhibition Of views upon this question
coincident with own. would refer readers to
an article from the Richmond Enquirer, in another CO.
lumn. Our remarks merely incidental TO the
notice of Mr. Swartwouts dealcation, and embrace no
considerations IN opposition to tho Independent
Treasury other than those which refer TO the safe
Keeping Of the public funds after they shall have been
collected We do not deem 1t necessary, at this time,
to comment upon the other branches Of the question,
further than to remark that neconcesbly hos
tile to any scheme for collecting the revenues OF tho
country in gold and silver for placing the State inst
tutons under the political surveillance Of the general
administration, or TO empower the Secretary of the
Treasury TO harass the banks with frequent and arbi
trary demands for specie. Nor will embrace the
casion for resvng any unpleasant recoections Of the
old Jeersonan doctrine that the expressed will Of the
people should give law to their rulers. We feel
ous to harmonze the conflicting interests in the demo-
cratic hou sehod and in the hope Of realizing object
devoutyto be prayed for wait the development Of
future events.