, 1840-03-21

quire under this bill, by the appointment of
tour receivers general Of public money, with
that over this affiliated league of state banks,
which he now desires to abandon? Think
We, sir, that, if any Of the leading officers Of
government, or any of the favored minions
OIL executive power, had desired a loan from
one of these banks, he would have asked in
vain? Under the independent treasury bull,
such iavors can never be extended without
subjectns both the officer granting them and
the recipient to punishment in the penlten-
tiary.
The Senator complains that the power Of
removal from office should exist in the presi-
dent, and SAYS that he is not at all satisfied
with the argument in the first Congress on
which it was rested. This power has been
exercised, without interruption, ever since
1889. 1t is not, then, a recent usurpation.
The first Congress Of the United States which
ever assembled, by their construction of the
Constitution, solemniy declared that the
power of removal was vested in the Presi-
dent; and many Of the members of this con-
gress had themselves been members OF the
federal convention. Since the gentleman,
addressed the senate, | nave examined the
debate, and particularly Mr.. Madisea's re-
marks upon this subject, and ! think they
ought to prove satisfactory to every mind
He sketches the argument in favor of the
power with 4 masters hand.
How could the president execute the laws
at all if this power did not exist! Suppose
he should discover that one Of the receivers
general created by this very bill was apply
ing the public money to his own use. If he
were deprived Of the power Of removing him
from office, he might be obliged TO look pa
tiently on and suffer him TO embezzle millions.
Suppose a foreign minister were violating
his instructions, and betraying the best in
terests Of his country abroad; what is to be
done? Without the exercise OF this power,
the president would be compelled to wait IN
I'll the mischief might be emit ely consumma-
ted-until the country might be ruined-be-
fore he could recall this corrupt or wicked
minister. might present a hundred similar
instances. This power is essential IT, the
performance of the duty imposed upon the
president Of seeing that the laws are faith
fully executed. Without it he would he de-
prIved OF the necessary means OF executing
this high trust reposed in him by the consti-
tuition. 1t is, therefore, wonderful how the
existence Of this power could ever have been
seriously contested.
lfthis power OF removal did not exist IN the
president, il would follow as a necessary
consequence tina, the senate must remain in
permanent session for the purpose OF sane.
tioning removals from Office as they might,
become necessary throughout this vast and
growing country. The public interest impe-
riously demands that some power should al
ways exist. competent instantly TO remove
all officers the moment they are discovered
10 be betraying their trust. But the consti-
tuition never contemplated that the senate
should be in session permanently. Heaven
forbid that this should ever be tn" easel AZ
ter having been in the political atmosphere Of
Washington for six months, il is necessary
that We should 60 home TO mingle with our
constituents, and TO breathe the pure air OF
the country. The American people never
will consent. and never ought TO consent, that
our sessions shall become permanent.
Having now replied to all the arguments
adduced by the Senator under his second
general head, and having, | think, demon
strated that tbs bill contains NO government
treasury bank, | shall proceed to reply TO
those which he urged under the first general
head. 1t will be recollected that this was to
consider the bill according to the construc-
ton placed upon it by its friends, which |
have endeavored to prove, is the true con-
struction.
Before | address myself directly to the
senator's argument, allow me to indulge in
some general observations.
What has been the financial history Of this
country for the last twenty-fve years, I
can speak with positive knowledge upon this
subject during the period Of eighteen years
since ] first cam INTO public life. 1t has
been . history of constant vibration-of ex-
;rayagant expansions in the business of the
country. succeeded by ruinous contractions.
At successive intervals many Of the best and
most enterprising men Of the country have
crushed. They have fallen victims at
the shrine of the insatiate and Unsuitable
spirit Of extravagant banking and s~pecula-
lion. Starring at the extreme point of de-
Of one Of these periods, we find tina,
The country has been glutted with foreign
merchandise, and il requires all our en1rts TO
pay the debt thus contracted to foreign nn
iobS. Al thtS criSis tho hanks can do noth.i