Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1839-01-02

been done. Give Bank the public rove.
nue., and the public disbursements, and
have you not a National Institution in
effect established and in the worst of all
forms Created by the Executive con.
iroIed by the Executiye--de dependent on
the Executive irresponsible 10 Congress
CLOSED against Congfess--iis vaults aud
chambers shut up against any investiya.
ton, except by the High Contracting
| Parties themselves
! Now in view of any such contamination,
his motto was "Orbsta prineipijs - He
was for opposing it at The outset. Ii
would lead to a cencentred Money Power,
which would DO compelled TO take nm ac-
tive part in politics. And (hc added, with
unusual emphasis) if a connection oi This
sort has boen or shall be contemplated, |
now como forward aud IN the name of the
country, FORBID rink sANNst
One object Mr.. R,vcs had in urging
these resolutions, was to show the exac,
relation existing between the Treasury
Department and the other Banks--to
show that Notwithstanding ali the homlies
| )f the Executive anj his subordiDntrs. on
| the necessity Of n DlvoRcn---they have
| by their own example, instituted most
dangerous connection with The Banks
The Secretary makes an exhibit of SIX
teen hands, which be employed, and
which he calls" SPECIAL DEposrroRrEs. Y
| What kind Of deposites are made and
Kept in them : Are they the very same
specific funds are payments made do
balances remain, IN these specific funds
These are testing questions. | doubt
not they will DO found 10 be more entitled
to the name of"Srecial Repositories, 2
than other banks.
Bat the material point is that while the
President and Secretary recommended
the Sub Treasury scheme, and even boast
of its being the Law OF the land, they still
recognise the superior safety and udvan.
tages of banksa They have 80 much
confidence in them as TO constitute them
their repositories. The connection they
propose 10 make is OF the most danger
Gus. character---a connection dependen,
on Executive discretion. The time has
come when every patriot ought to watch
closely the policy ofihe Executive. The
President has no objection to the use OF
banks, but he does not wish them Ia be
provided ~ iaw. He wishes to employ
Thorn Gully when il suits his own sovreiun
will and pleasure. MIR. Woodbury. "docs
not deny the safety Of banks, as to event
ual payment. This is more than can
be sud Of the Sub-freasurers. What
chance is there for eventual payment from
them from those who have fed to 9th.
er chimes, and to foreign jurislctiopl
| Mr.. Rlves maintained that no system
was ever better calculated to destroy the
liberties Of this country, than this new
project for connection with banks at cx-
ecutive discretion.
Allow the President 10 choose 90 or 30
banks out the whole numher, and what
q favor do you noi give him what meas
ure of patronage
He further said that the admission OF
the Executive and his subordinanccs
clearly showed that the Sub Treasury
scheme IS kept up, noa1naity, for parry
purposes. To accomplish party yicto
ry, every one OF its principles had beer
practically abandoned and we who are
i Sopponents, may claim the victory
The public voice had declared against
the exaclion Of specie. The President
and Secretary have Abandoned ia few
persons may adhere 10 it. Bot MS n Ma.
tona institution il is deud and buried
The President admits too, that the Sub
Treasurers arc unsafe and not to be ro-
! ed upon. In that passage wherein he
calls tor the co operation or Congress, Ia
! supervising them, and makes this extra
ordinary and most unconstitutional pro
! position, that Committee should repor
TO him upon their conduct He hoped nt-
yer 10 see the day WHEN Congr, IS shoul
descend from its high state uud report to
the President. DECEASED as the Legislature
had been by the rapid march OF Executive
power, he hoped il would never be found
so low as this. Yet this invoking penal.
iies--the Acknowledgements that lndiyidu-
ais find II difficult TO resist the temptations
of fraud and INTERCHANGEABLE asking Of
this inquisilorial tsbuoal--al these are
unequiyocnl proof that the Pr sident re-
CARDS Banks as better guardians, than The
Sub. Treasnrers And yet talks Of recent
events confirming his impressions. The
verdict Of recent events IS in favor Of
the Banks. But what do they tell Of the
Sub Treasures. We hardly recover from
the news Of one default before we hear OF
another. Even that shrine Of national
honor, the Army, is not free from the stain.
The higher professions yirld to the fatal
system the Sub'freasurers, and ueep as
the Illumination is, caused by these detail
cations, he yet regarded them as blessings
las admonitions TO save us from sys-
tenn which threatens our country with de-
morulIzation and ruin.
| Mr.. Rlves concluded with earnestly APP
i Z IL a