The Hawk-eye and Iowa patriot. (Burlington, Iowa) 1839-1843, 1840-02-27

) tons in tie order in which they we,
adopted. ANS s -
I !, First. AS one Of your Senator
l am instructed .sto vote against II
!. charte.iny BY Congress Of nation;
Bank" 7''> ''S1
\ This instruction corresponds wit
the opinion have repeatedly EXPIRE.
sed and acted ON, anII could novice
no difficulty in conforming my vot
to your wishes on this subject. ed
Secondly. am instructed ito got
TOR and use I'LL fair ana proper exc,
tons to procure the passage Of tn
measure brought forw.trd in the c N
gress OF the United States, comm mi
called the Sub-Treasury orIndepenj
ent Treasury BILL 81. &c.
The following with mlny other rea
sons induced me to believe l ouyh
not to comply with the instruction
contained in this resolution.
! It has often happened, and will gen
orally be the case, that considers,
ble lime must clapse between the re
celpt ofrublic money from the debtor
to the United States, and its dis
burseinent TO their. creditors; during
this interval the money will he much
more safe in the custody OF well Sc.
lected Banks than it can he in the
hands Of individuals supposing them
to be faithful.
Suppose any one Of your honora-
bic body had one hundred thousand
dollars OF his own money, which he
did not intend to USE for SIX or nine
months, and lived in the vicinity OF
a bank OF respectable standing, would
he keep the money in his own house,
under his own care, or would he de-
post it in bank for safe keeping I'M
til he wished to use it! If he was Il
prudent man regarding his own inte-
rest he would certainly deposist.
Are we then justified in taking less
care OF the peoples money than u
prudent man would take of his own?
With great Difference to your better
judgment, think not.
1t often happens that the rece wing
officers have On hand much larger
SUNS than that nlmed in the su pos
ed case. and us the sum is increased
and the time it is to he kept between
its receipt and disbursement enlarged,
the danger oil loss, when in the hands
OF IN individual, is increased likewise.
Ayain. All experience teaches us
that large sums Of public money left
in the hands OF individuals will be mis-
used and squanlered. 1t will either
be used by the individual himself for
his own purposes, OF loaned to impor
tun,te friends whom he may wish to
accommodate, and who are sure not to
be able to return it when called for.
1t it said Banks are irresponsible,
therefore not to lie trusted. Ia nv
opinion, generally, they are more re-
sponslb'es than inIivldulIs.-.Tnev
h I've more means with which to pay
and il they tail to nuke payments
when required, they are as much
a'nenabIe to the process OF Il court Of
justice as Individuals are; and in add
d,tion they are to be found with
mach more certainty, us I, corpora
ton aggregate can very seldom all
scond or leave the country. which an
individual easily can, and often does
DO when he nisuses the public mo-
new.
We need all the checks which can
reasonably be imposed on our collect
ing and disbursing officers. Banks
have been found to furnish one high
" beneficial upon both of these clas-
ses. By regulation between the
Treasury department and each de-
post Bank, the latter has been rcqui-
red at short perinds to turni h lis ac-
count current with the treasurer, and
on the face OF it to show all sums de-
posted to his credit, when such de-
posts We're made, and by whom. By
comparing thi, account with the ac-
counts furnished by the respective Of
li:efs themselves, it can readily be
discovered whether they are misus-
ing the public money or not. By the
proposed change, and allowing the
colectaraor receiver to he himself the
keeper until the money is wanted for
use, you have nj check whatever
and the whole money received by an
officer may be squanIered before it is
wanted for disbursement, without any
mems Of detection. s.'t i.7s ~
], therefore, conclude the Sub-trea-
s,,ry Bill ought not to be passed, if
there were no other objections to it
save that q the public money being
less secure. But there are other
weightv objections. sp
The only plausible reason which
can be assigned why we should dis
card banks entirely and appoint Sub
Treasurers keepers Of the public
f,,nds 5 rn,,st no. Tint the hanks are IN.