Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1840-03-09

"a
the different DISTANCES OF the depositaries from tho
Seat Of Government, within which all Dire mon
them, respectively, shall be presented fo- n.snnni.
ana, ~ Gslau,t o. such presentation 10 direct a.,
D oJsr.' "h'cn NC WY @em
fsen it is to depend y -.
T'pt sury whether we h. >pon the secretary 0, '"e
".o,l We delive ave Government BANK or
~ hi. LEGISLATION red over TO tho tender mcrcies
he NAV choosc "A the form Of the regulations which
,r,ordinarr to issue and pubishl And the ex-
i,,o bis 1 power is vested in him, any dare vio
% or regulations, Of denouncug the severe penal
~. receiving payment 'in any other mode and place
" nch he shall deem proper Now, sir, between a
draft the receiyergoneta at 81. Lou and a; New
ork there will be difference at all times Of at oas
two per cent; and at some periods much greater
difference. Is il htfin lis it in accordance with
the genius OF free institutions, with u spirit OF
country OF laws TO confde such power TO mere
Secretary Vi the Treasury What power it not,
TO reward political iriends or punish political
mics
But, sir, look at tho matter Of this restriction in
a higher point Of view. You cannot maintalnit.-
Why should your You have provided all the means
as you profess believe of pciec, security for the
custody OF the public money in these deposlores
Why should you require the holder OF Government
draft, often ignorant Of the Legislation Of the Sec
rotary OF the Treasury, 10 present for payment by
given day, under severe penalty, depending npon
his discretion ? Will not the Inconvenience TO tie
community, OF precise day and short day. for
the presentation Of the draft be vastly greater than
that of tho Public in retaining the money Tor an lr
definite day. until il suits the holders convenience to
demlnd payment And will GU not be tempted 10
Keep possession Of the SPECIE for the incidental ad
vantogcs which ii afforGs1 All! sir-ore we to over.
look the possible 10 which, in corrupt avs Of The
Republic, this dormant specie may be applied in the
crisis OF political election or the crisis Of the exs-
tcnce OF party liz power7
Congress will be called upon, imp ratively called
npon, by The People, TO sbolsh all rictions which
the Secretary elhe Treasury may promulsatc for The
speedy presentation for payment Of Government drafts.
The wants Of the People and the necessity Of the
country for a paper medium, possessing uniform
value, and capable OF general circulation, will de.
mand II at your hands, and you will be most ready
TO grant the required boon. We shall regard the
system accordin to its ruo ard Inherent character
aud aot be deceived by provisions, inevitably temper
ory IN their nature which the policy the prudence
oil It's authors may throw around It. The greatest
want OF this country at the present period, in its cir
cuIaing medium, is some convertible paper, which
CT every extremity Of The Union viii aad the
confidence oihe people, and circulate wilhou: dcpre-
claiion Such paper will be supplied in the form
OF those Government drafts
But If the restriction which have been consider.
ing could be enforced and continued, would OF al.
ter the bank character of this measure. Bank or no
bank is question not depending upon the duration
oil time which its issues remain out but upon the office
which tley perform whilst out The notas Of the
Bank OF The United States oil Pennsylvania are not
deprived OF their character Of composing part Of the
circulating mednm Of the country, although they
might be returned to the bank in 10 20 days
after their issue,
Know that it has been argued, and will be argued
ngln, that al all tunes, since the commencement OF
the Government, the practice Of the Treasury has
beon 10 issue its drafts upon the public deposiiares;
that these drafts have not heretofore circulated
money and that il they now do, it is incident
which attaches no blame 10 the Government.
Is It heretofore, these drafts issued upon banks
ana The holders Of them passed them 10 their credit
with The banks, or received payment in bank notes
Inc habit oil the country and habit great thing
was 10 use bank notes. Moreover, there bank
notes OF every kind IN use-those which were local
and lhosc which we're general in their credit and cir
culalion. Now, having no hank Of The United States
in existence, there are no bank notes which maintain
the same value, and command the public confidence
throughout the Union. You create, therefore, an
pcxprable necessity for the use OF Government drafts
a Il metium Of general circulation, and argue from.
State oil things when no snen state Of things existed
The proieslaons Of inc friends OF the bill in the
chamber, the dc nuncia OF its opponents and the
qua, horror which the People entertain oil Govern
In5nt hank, may prompt the Secretary OF the lreas-
ury slowly and syly 10 l the veil which masks ITS
true features. A Government bank may not sudden.
ly burst upon u.s. but there it is, embodied in this bill
And ii il not the least objection TO the measures that
it depends upon the discretion Ola Secretary OF The
Treasury 10 retard or accelerate the commencement
ef lis operation at his pleasure. Let the reelection oil
the present Chief Magistrate be secured, and you
will soon see the bank disclosing its genuine chaTac-
ter But, thanks be 10 God, there is day OF rcck-
oning at hand III the signs Of the lines clearly
indicate its approach. And on the 4th day OF March
IN the year OF our Lord lS4l. trust that The long
account Of the abuses and cor.uptons OF the Ad
ministrati,n in which this measure will be a con
spicuous item, will be finally and forever adjusted
Mr.. President, who is 10 have the absolute con-
troll OF this Government bank We have seen
within a few years past, most extraordinary pow
er asserted and exercised We have seen it in free
representative, republican Government, without any
olher cause than mere difference Of opinion. M
matter what may be the merits OF The oihcer; no mat
Ter how long aud how faithfully he may have ser zee
tae Public; matter what sacrifices he may have
made matter how incompetent, from age ant
poverty he may be 10 gain subsistence Tor hnse'
and his family, he is driven out TO indigonce ant
want for ne other reason than that hc differs II
opinion with the President on the sub Treasury, o
other OF the various experiments upon In
prosperity OF this people. But this is not all.
you call upon the Presdctt 10 state The reasons '.hic
induced him . any particular instance, TO cxerc'
this tremendous power Of dismisspn, wrapping him
self up in all The dignity and arrogance OF royal ma
icsiy, he refuses 10 assign any reason whatever, an
tells You that it is prerogauve. That you have
right TO interrogate him as TO the motives which hav
prompied him in the exercise Of any OF his cons
tuiiunal powers! Nay, more; you apply 10
subordInate-a mere minion OF power TO nfor
y3u why he has dismissed any oil has subordinate
he replies that he will nat communicate The gronht
o. his action. have understood that IN more ca
ses than one, the person acting as Postmaster Gen
eral has refused this session 10 inform members
Congress Of the grounds which he has dsmsst
deputy pnstmasters. We have witnessed the apple
sion ofths power TO a Treasurer OF the United Stat
roeeully, without the pretence of his failure TO di
CHARGE his public duties, all Of which will be pc
formed with scrupulous exactness, honor, and prot
".
And what, sir, is the consequence Of power 4
claimed and exercised The first is, that ~
county Of Constitution and Laws, the basis and &
genius Of which are that thereis, or should be u
perfect responsibility the part OF every, ev
the highest funcionary, here is vast power, da
exercised with the most perfect impunliy aGd who
h.af A1no