The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1840-01-07

The number of terms to be held in each of The
courts composing the myth circuit, the distance be-
tween the places at which they stand from thence
To the seat of Government, are represented TO be
such to render ii impossbs for the Judge Of that
circuit 10 performs. in manner corresponding with
the public eXigences akRerm and circuit duties.
revision, therefore, of Tie p cseVtnaEEap cement of
the circuit to be called for, dnddsr ahAg,eh
ded to your notice. $&W
think il proper 10 call your attention to the
power assumed by Territorial Legislatures to all
thorize the issue of bonds by corporate companies
on the guarantee of the Territory. Congress pas:
sed law in 1886, providing that no act of Fer
ritorial Legislature Incorporating banks should
shave the force of law until approved by Congress,
but acts OF very exceptionabe ch%ncter previous.
~ passed tS the Legislature of Florida, were snf.
tered to remain in force, by virtue Of which bonds
may be issued TO very large amount by those in
stitu,ons, upon the faith OF the Territory reS-
oution intending to be "A ont one passed the Sen
ate at the same session, expressing the sense Of
Congress that the laws in question ought not to be
permitted 10 remain in force unless amended in
many material respects, but it failed in the House
of Represc ntatves for want of time, and the de-
sired amendments have not been made The in
teresis involved OF great importance, and the
sabiect deserves your early and careful attention.
The continued agitation of the question re alive
to the best mode Of Keeping ana disburslng the
public money still niuriousl y'uilecs the business
of the country. The suspension of specie pay
monts in 1887, rendered the use of dcposite banks,
as prescribed by the act Of 1885, source rather OF
embarrassment than aid, and of necessity placed
the custody of most Of the public money after.
wards collected in charge OF The public officers
The new securities for its safety, which this re-
CURED were principal cpuse OF my converting an
extra session Of Congress but in consequence Of
Il disagreement between the two Houses, neither
then, nor at any subsequent period has there been
any legislation on the subject. The effort made al
the last session obtain the authority of Congress
to punish tho use OF public money for private pur.
poses as IL crime, a measure attended under other
{ advantage,
successful, ON diverstes of opinion IN that body
Notwithstanding the anxiety doubtless felt by il 10
afford every piacIicable security, Tho result of
this is still 10 leave the custody at the public mon
ey without those safeguards which have been Cor
several Yeas earnestly desired the Executive );
and Us the remedy is only to be found in the action
of the Legislature, il imposes ON me the duty of
again submitting to YOU tho proprioty Of passing
law, providing for the sale keeping of the public
moneys, aud especially to ask that It's use for PR.
vate purposes by any officers nrused with it, may
be declared To I've II felony punishable with penal
ties proporlioued to the magnitude Of the offence.
These circumstances, added To known defects in
the existing laws, and UNUSUAL arrangement in the
general operations of trade, have, during the last
tire years much increased the difficulties attendant
on the collection, keeping and disbursement of The
revenue, and called forth corresponding exertions
from those having them i'm charge. Happily these
have been successful beyond expectation. Vast
sums have hceu collected and discussed by the
era departments with unexpected cheapness and
ease 4; transfers have been readily made to every
part Of the Union, however distant; and defalca-
tons have been far less than mi ght have been
ticipatcd, from the absence Of adequate legal re.
sirans. Since the officers of the Treasury and
Post Office Departments were charged with the
custody of most Of the pnbiic moneys received by
them, there have been collected sixty millions Of
dollars, and excluding the case of the late collect
or at New York, the aggregate amount of losses
sustained in the collection cannot, il is believed,
exceed sixty thousand dollars. The dctacation of
the late collector at that city, of the extent and
Of, NnnU Inns hpl fin
informed. ran through all the modes Of keeping
the public money that have been hitherto in use,
and was distinguished by an aggravated disregard
of duty that broke, through the restraints of very
system, and cannot, therefore, be usefuly referred
to as n test Of the comparative safety OF ,ither-
Additional Information will also be furnished by
the report q ihe Secretary oflhe Treasury, in
ply to Il cal! made upon that officer by the House
Of Represen at the last session, requiring de-
tailed information the subject of defaults by
public officers ~ agents under each Administration
from 1850 to 1887. This document VIII be sub
miticd TO You in IA few days The general results,
(ndependont Of the Post Office, which is kept
separately, aud will he stated by iseli) so far as
they bear upon this subject, are, that the losses
winch have been, and are likely TO be sustained,
by any class of agents, been becn--the greatest by
banks, including, as required in the resolution,
their deprecated paper received for public dues
That the largest have been by discussing Off
GERS, and the least by collectors and receivers. l.
the losses on duty bonds are included, they alone
will be lhreclold those by both collectors and re-
cevers. Our whole experiences therefore, furnish
the strongest evidence that the desired legsla-
ton of Congress is alone wanting 10 in
those operations the highest degree Of security and
facility. Such also appears to have been the
perience Of other nations From the results of IN.
quiries made by the Secretary Of the Treasury, in
regard TO the practice among them, am enabled
TO state that IN twenty two ont of twenty ven
foreign Governments, from which undoubied infor.
nation has been obtained, the public moneys
kept in charge of public officers This concurrence
of opinion in favor of that system, is perhaps
great exists any question Of internal admins
tration.
In the modes of business and official restraints
disbursing officers, no legal change was pro-
duo ed by the suspension of specie payments
The report last referred will be found TO contain
also much useful information in relation 10 this
subject
/ haveheretofore assigned to Congress my
ons for believing that the establishment of an In
dependent National Treasury, as contemplated Ivy
the Constitution, is necessary to the safe action of
the Federal Government. The suspension of spe-
Gle payments in 1887, by the banks having the
custody Of the public money, showed IN so alarm
dam ihncn if,,fif,