Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1839-03-28
From the Matches Courier.
MR.. CALHOUN'S

ODin0n on Me present system OF FINANCIAL
A1miaisiration--W commend 10 the consider
alton of our readers, the following extract from
letter of the Washington correspondent OF
The Baltimore Patriot, under date of the 18th
February. The bill Of Mr.. Wright "more eff
ectualy to secure the public money in the
hands OF officers and agents of the government,
and to punish public defaulters," was under
consideration.
"Mr. Calhoun rose and made some remarks
which bore hard on his loco(oco allies. lie
fatty pronounced their present system of fnan-
cia administration to be "The greatest folly on
Gods earthm What could be imagined, he
asked, more absurd than for the government to
collect and keep their money in bank notes? He
denounced the present, as the worst possible
form Of bank connection. Ii gives to the exec
utive far more control oper the banks than any
oher form.
He moreover declared there was the great
est confusion in the public mind in relation to
this subject Nobody said he, can tell what is
the law Of the handsome will say, the sub
treasury is in operaton-"But say, (contin-
ued Mr.. Calhoun, with extraordinary empha
sis,) say 1t is not, and nerer has been IN opera
ton ~
and honest declaration ofthe truth in regard to
this matter--w hich has ever yet been made by
any man belonging to the sub-treasury party
and honor Mr.. Calhoun for it. We have now
the declaration of the most distinguished, and
beyond all comparison the most powerful ad-
vocate of the system, against the boasting oil
such minor incapacities as Cambreleng q 20.
"Thc sub-treasury is not, and never has been
in operation" in spite of the lamentations here
and elsewhere!
Mr. Tallmadgc next took the floor, and call
ed the attention of the Senate and the country
10 this emphatic declaration of Mr.. Calhoun,
and after referringi in very animated and Ell
fective manner to the use which had been made
at the last elections ofthe cry that the sub trea-
sury was in actual operation, presented most
important amendment. He proposed that when
ever the public money shall be deposited in
banks at all, it shall be deposited "to the credit
ofthc Treasurer ofthe United States, and not
to the indiridua! credit of the collector or re-
ceiuer."
Mr. Tallmadge stated what is notorious that
the present collector of the port of New YORK
makes his deposites in banks to his own private
credit, in the capacity, not OF his official person
as collector, but as any private individual would
place money there!
What will the American people say when
they hear that Mr.. Tallmadge's proposition was
rejected?
1t is impossible to repress the strongest re-
sentiment at the course Of the administration
party in this instance. With the examples oil
their Swartwout and their Price and the nu
merous delaulters among their receivers and
collectors before their eyes--they yet insist on
placing the peoples money at the mercy o.
these receivers and collectors and positively
refused to place it in the Treasury What il
this but to say to them ego on and enrich your
selves? Speculate-plunder-rob-be as pro
fuse as you like in your elections!" Yet the
men who voted down Mr.. Tallmadge's propos
ition, dare to talk of providing securities fol
keeping the public money. | do not remember
any thing in the whole history Of their misdeed:
more revolving and disgusting than this vote
of the party. They too talk Of Swartwout ant
Price, as they affect TO do, with condemnation
after giving votes which say as plainly as car
be said to each man who has any access to the
public money, "Go, and do likewisev' The
vote on Mr.. Tallmadge's amendment stood
yeas 90. Nays 49,"
Mr.. Clay, Of Kentucky, after abiding to this
extraordinary vote, in proper terms, said The
measure was in his estimation too importan
to be pressed hurriedly, and moved an adjourn
mont.
The Loco Focos refused-and before they
would consent to adjourn, the Bill was ordered
to be engrossed and read third time.
From tho WclIsviIlo (Ohio) Advertiser.