Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-01-08
Y'UEsEa.ss'. .g.s.S'gI.FER 1889.

OF
l!rr Secretary vi The Treasury.
The great question which issue was Jotnsd
between the advocates and The opponents oil the SDa
Treasury Scheme, was the comparative safety oil The
banks and OF pnlC officers, REPOSITORIES OF lie PUG
lie money. Notwithstanding Ike triumphant arTrah"e
made Ia the past experience of the Government on HIS
h.ad and The vast amount ui losses whIrh we showed
BY the arI er'ic Trcnrd 81 the Treasury had been sus
tanned from deiaung public officers. II WIS s'Isi con
Ieuded That banks i.s safe than tvIduai agents.
mud reports called forth from the Secretary Of the
II usuy, explaining away the conclusive Testimony OF
his u!mei reports. and making ou! by Ger ain rtcohti'c
calculations ui interest and 81 alleged deprecIaiIon
heavy loss IN nurrs UhGueh not IN iaci against The
banks. 10 offset .ie defaults OF pubic GiceFs
But hat dots lee Secretary nGw say under he leach
nns Of 'receii events. reviewing his reports both
for and agnin.: the comparative safety al banks as pub
lie repositories: thanking institutions have Re6sr been
fe.arGrd by the Undersigned (sais Mr. Woodbury. III
lis late annual report TO ConGress) las class o agents
generally unsafe when nukIng 10 eTrE,ua !"sses, Or.
lie says another part al ha report 'In relation 10
eventual paYineEt.' | should like tn knew from Mr.
Woodbury. hat prospect Of 'crtEi"i payment he has
from lie Sub. 'r;essrrrfs hu have atty fled The
Country, ard Pnt the ocean between them and The Soil
ci,rr Il The Treasury.
In Ike manner. HE President bears. in MY opinion.
the most impressive testimony iu the safely ui
banks dcpys!:o-irs by Tie extraordinary and unusual
pruv>ons he recommends To guard aga!msi The Griaca
lions o, pubic officers lie expressly says. indeed. that
'il:e experience every country las shown ia pubic
officers moi a! al! times proof against temptation -
10 CounreGva The iufce Of Ills temptation. he mVnkes
the penal Legislation Of Congress ~ visit The nhdelty
o! hcse agents with and lgnomiuiOGs punish
mrnu." But Of hat avail wou'h be the bl"udy
code Of Dtaco whcn The improve ntihcts Of !ocomn
ton 10 Which The rmtcrprsng and inventive genius OF
the age has given Lt. and Ui whch ~" ui "nr Sub
Treasures have arrGGy AWARDED themselves, ulJrd 30
ready q! csrapc, and Of consequent InpunI,y
under foreign ui sdlcoG; Far better would 1t be, III
my humble Judgment. 10 heed lie prayer which Divine
!sdCm has taught In human wrghirss. and ~ '!cad
net public officers ("hn hut u:'n) into tcnlpla
!on by committing their custody large sums q" the
public treasure
But the President, as If couscinus lhat neither Ike RI
cors Of Legislative CnaClm ut, the vigilance U Exc
culYc. uprvS.n could a&equate provide for the safety
o! The public moneys ia The hands u! individual agents
has gravey submitted 10 Congress pTGPUsiti"n which,
mist, with all teieTercr. say, appears 10 me The most
Extraordinary record and utterly opposed, TO the sF
r least "i the Constitution. What is II: Why that
Cuurr1ss should ap;nin, ambuialGry committee Of
their hady to lorh after The Presidents Sab rcasu
10 make "ireTnen; examinations ot iIs affairs and
accuGE;s, Of which these officers, h" President adds
"shauii have previous :niCc and theE 20 rcpGrt 10
The Ertcatrc such deFrcato"S found TO exist
Yes Sir, committee &" Congress 10 hunt up deauefs
and report them 10 the EIs.nirc! Whose duty is it,
would ask under the Constitution, supervise and
spsc,t cauGuc, public ofcrre; 9TH" Executive pow.
err Ly tie Constitution. is expressly fsted in the Pre-
sjrmt" He appoints the public officers, "hn are his
agents and assistants III the performance OF his high trust
lie alone has tie power o' removing them, and upon him
aicnc should bIliiy for their conduct and
tie necessary 10 ascertain their fidelity or un
wo:hlmc:s Congress is the istsiOtrc department,
whose province {" enact H'rS the cTcuti0a of which,
Ihen Gevolves GU :hr President Congress can have
ir. m do with he functions aad details of aGmins'Ia.
ton Tie responsibility ct which rests The President
alone proposition, then, making them shulers in tat
responsibility through Commute" vi their body 10 which
should tr assigned The subordinate and ministerial duty
of ''n pcCing the affairs and accounts OF Sub rreasIr
era and reporting 'cir dgiacHtIons 10 the EItcuire.
mus, repeat appears lily opposed to the pruc
, tha
g.. ATTY OF Congress No. sir, If the occasion were
leg lInalc ere, stall never see trust committee
Of Congress reporting 10 any other body than 10 Con
G1CsS ial II tn President wI have sub Treasures,
hs mus, Ipo. ate; hem by agents oEhls As much
Executive power, lament 10 say, has invaded and
SubdutG the lefty spirit and rightIu Independence OF
;ie legislative Gepalien We arc not yet, t!us', pre-
pared tor The humiliation ul appointing committee OF
the American Congress corps VI bradlrs tc hunt up
deauug sub iicasureEs. aud report them 10 the Ere
euiirc. That Tcre! and extraordinary q measure
should have been proposed By The President a
sarv means Of guarding the public mniiey from Gclaca
ten in the hands Of Sub Treasuers is Tie most emf ha
c ackTowirs meEt he could have made OF Tie inherent
insecurity OF that system.
Notwithstanding. however, all these admissions, ex
pres: ur IMPLIED u! The superior safety and
Of banks us repositories and fiscal aEenis the President
recommends again The Sub Treasury scheme 10 Con
ere So aud says his opinions III favor Of i. " have
been strengthened ty recent events What the Presi
dent can find in ''rccc events lOsusa,n his ed
commentator o: the Sub Treasury scheme utterly
passes nv powers cf comprehension imagine E,rsnf
t5snis ! Lctus Tor moment inquire What lhcsrrccn
,rrals N ye BEEN and how irv bear the two rival
TENS proposed Tor the sale keeping of tie public moneys
FIRST q tie system Of STATE Banks public drpnsi.
torres hat is The testimony c with
cr;d To them: Have VI not recently seen them, with
~ Gli,eu mouths after general suspension II specie
pa. nents, brought upom them by unprecedented
crisliuuuG. q. adv@rsc circumstances, among which not
the least the hostile policy "t the Government; II.
stif-have te within this short period.
without Il cheering voice from the Government
.r,id the difficulties inch Surrnnndrd them, Tesumng
their 10 yIrls in specie me- ting all their engagements
10 the country with rrompttCGe. paying ndry miiiinns
10 the Guvernn II. punotualy al lac periods designated
bv iaw, AID anticipating IN Seine Instances, the
raymcu, Of The small balances remaining, before they
have become due under The provisions oi 'aw : So
prompt recovery, under circumstances ri such peculiar
difficulty and embarrassment is without example in the
Guauca! history ri tie world, and afford the ri.
uuyhenl evidence Of The general suunGucss and ine
pri'y Of these institutions The President himself says,
lit is M more than just TO The banks TO bear testimony
",o their houoraIte in TIE a!e emergency The
y;cr Of rtciat CcfEt, then, Ui every thing which has
occurred since tho Gnrnmrnt Of Congress down 10 the
date Of Ike PRESIDE nj message, is IN favor OF Tie sys
ten o. the State Banks public repositories
Now let inquire what is the verdict of these
,crrst er1rfs sub Treasury system For the last
two or three months. Tie country has been filled with
CONSERVATION and alarm by successive GeaIcalons CT
Sab Treasures, ranging from twenty ur thirty thousand
dollars up 10 million and quarter each We have
hardly had lime to from The shock Of Of these
extensions before have been ostGunrd By The report Of
another and another Almost every rank and profession
Of lie has hecn invaded by and yielded To- tie 'tenipta
tius .! ihs co!Tuptng system. Even here "nder the
very eyes of The Government the shrine Of the national
honor. rlc Army. las not been able 10 resist the uec
ton. refer with pain 20 these hinCs but they have
brcG;e part Of the public history If The nrs. and 1t is
in vain 10 attempt n throw veil over them The robes
Of the law "a profession which the most profound and
saracnus of all he foreign observers o! our insu
tons has pronounced TO be the real ursucrOcy Of The
country have Itsn soied by the pollution The peace
and honor &c families, wr the pride Of the nation
have been d!Jgged down 10 lie dust by The system OF
ovr.w hc!ning tcmr laion and corrupnn while the pub
lie treasure has bPen wanlony dsspated and wasted ~
il Deeply Illuminating these occurrences are 10 The
national pride, yet lock rrnn t!rl as pro"ideEtih' al