The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-09-05

a. Ar. Jan DSrsa's SsB-7fsGssry
Sck<me.

II AM& NUN0MkNN ~ IN NAGh@A M0MA ~
leusr written By Benz. Watkins Lsigh.
ESQ.,. 10 . gentleman in Meeklshburg. da-
led he 2elh Celober. 1888. 10 The publ
cation Of which Ar. Lsigh. o. The request
Of The gentleman 10 whom II was address,
ed. has given kis e0nssnL
In transmitting this sxiEses Cor pabli
cation, our correspondent says:
s,ln favor Of The sub-IreasuEy myself
81 least Of The great principle Of 'Di-
soree"-I frequently, in arguing that
question With my friends previous 10 the
reception Of Mr.. Leighis letter. when
spPesling 10 the authority Of Distinguish
ed names.) mentioned him ss . friend
10 The sub lressury scheme also. from my
recollection Of his speech al Petersburg.
and > letter addressed BY him some short
time before 10 Mr.. PleassnIs and other
gentlemen Of Richmond. Being con-
WINGED by his letter thai | had done him
injustice in this respect. and Ihst his
opinions on this subject las far - ny IN
formation exlsnded) were very generally
misunderstood. conceived IL 10 be bot
an act Of justice 10 himself and bis ma.
nv friends that his real opinions should
be known"
Mr.. Leigh says
81 can hardly exPlain my opinions
on The question Of The sub treasury, in
the compass OF . letter. The subuea.
sury system spoke OF in my speech al
Petersburg. vas an organization Of irea-
suries and uessurers 81 various points
IN the Union, sll connected with The &C.
neral Treasury Al Washington, and un-
der the directions Of the treasurer there.
and Of the Secretary OF The Treasury.
while all the Iressurers general and sub
ordinate. and The Secretary OF The Depar.
msnt. should be held directly response.
bic 10 Congress-ihai 10, accountable.
each aad every one. when called upun.
10 account directly to Congress. and not
indirectly through The President. II was
an essential principle Of such . system.
that the public uessure should be in the
custody Of Congress. regulated entirely
BY law, and that The President should
have no share, - eonslilu,ianslly he was
entitled 10 no share. in the custody. any
more Than in the disposition Of IL. save
what vas entrusted TO him BY LAW. Now
Mr.. Van Buren's sub.ireasury sysicm 10
based upon the assumption that The rus.
iodv Of the public treasure belongs. by
the Constitution. To the Executive, be
cause. forson'h, the Executive has The
appointment and removal Of ell officers
appointed for The custody and adninisira.
ton OF the treasure. aud the sub.ireasuty
bill seemed only intended TO recognize
by laV the Presidents constitutional
righ oi custody of the public money,
and 10 regulate the details Of the sys.
ten so a. 10 endue the Executive right
OF custody with the utmost possible lie.
gree Of Executive influence; and the bill,
moreover. pointed out lis obvious con.
sequences TO that same EXECUTIVE
BANK. which General Jackson was
willing 10 furnish Congress a scheme Of.
II he had been consulted. and which. il
the sub.Ireasury bill should ever become
a Law. will. in very few years. | am
confident. be openly proposed end a.
doptsd. shall never acknowledge, eth
er directly or indirectly. or BY any man.
ner Of indlreciiou or implication. that the
President has, By the Constitution. any
right whatever IL any sort Of custody
Of the public treasure. or any duty or
poser IN respect to il, save what may
be gwen TO or imposed on him by ia,c.
Sooner. much sooner. Than admit this
new. and til General Jackson's time IN.
nesrd Of claim 10 . constitutional right
IN Tie President. which the law cannot
deprive him Of. TO the custn6y of all
public money, | will7voIe for an here.
dItary monarchy; for The claim. il admit.
ed and acted on, must lead In monarchy,
and to The worst Of monsrchies, by the
worst. though by far the easiest Of all
conceivable roads: by tins road of gener.
81 corruption. worked by executive innu.
ence on the money concerns OF The ma
ton. exercised for executive purposes.
IL 10 IN vain 10 talk OF hard money cur.
rency, lsinee ]. is morally impossible to
accomplish the object) so long as the
sIaies have and exercise the power Of
creating banks. and that without the least
stint or moderation. Il is = moral law
which can no more be controlled than
any physical law Of nature. that If there |
De two currencies in any country, thai
which is cheapest and least valuable will |
soon exclude that which is dearest and
most valuable. So far as am inform
Ed. Mr.. Calhoun and Mr.. Benton are the
Dnly rromlnen, statesmen in the public
'ouncils who 60 for the hard money cur.
'ency, and they differ in this, tina, the
orner Is Tor hard money currency on.
y in the money operations Of the Gov
'rnment, the latter is for i. in all The
Transactions Of The community.
The great body OF the Administration
'arty stop far short OF them bo,h--and
renee il was .ha. they casirsied the
'ub- Treasury bill, of Mr. Calhoun's hard