Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1840-03-06

which might never be presented for con-
sidetation. Now, however bills are pre-
sented to the Senate upon some OF the sub.
Jects embraced in your resolutions, and i
deem il my duty, without farther delay, to
INFORM you, that cannot obey the insiruc-
lions contained in some OF those resolutions.
and respectfully to assign some Of The rea-
sons which influence my conduct.
That may be better understood. will
notice each Of the resolutions in the order 10
which they were adopted.
First. As one OF your Senators. l am in
structed 10 vote against the cEar,ering by
Congress Of National Bank"
This instruction corresponds with the
opinion have repeatedly expressed and ac-
ted on. and could now feel no difficulty 10
conforming my vote TO your wishes on this
subject. Secondly. | am instructed TO vote
for, & use all fair and proper exertions to pro.
cure the passage ofthe measure brough, for.
ward in the Congress Of the United Stales,
commonly called the Sub-Treasufy Bill, or
Independent Treasury Bill" &c. &c.
The following. with many other. reasons
induced me TO believe | ought not to comply
withthe instructions contained in this reso
luton.
II has often happened, and will generally
be the ease. that considerable time must
elapse between the receipt of public money
from the debtor TO the United States, and its
disbursement TO their creditors /; during this
interval the money will be much more safe
in the Custody Of well selected Banks than
Il can be inthe hands OF individuals suppo
sing them 10 be faithful. y gts =, ,.1ss.,,
Suppose any one Of your honorable body
bad one hundred thousand dollars Of his
own money, which he did not Intend to use
for six or nine months, and lived in the viein-
ity Of . Bank OF respectable standing, would
he keep the money in his own house. under
his own care, or would he deposit !, 10 q
Bank for safe keeping until he wished to
use ii II he was prudent man, regard.
ing his own interest. he certainly would de.
post it,
Are we then justified in taking less care
Of the peoples money than prudent man
would take of his own? With great defer
ence to your better judgment. think not
IL often happens that the receiving off.
GERS have on hand much larger sums than
that named in the supposed case. and as the
sum is increasing and the time il is 10 be
kept betweeen its receipt and disbursement
enlarged. the danger of loss, when in the
hands Of an individual, is increased like
wise.
Again, All experience teaches Us that
large sums OF public money LEI. in the hands
Of individuals will be misused and squan-
dered. twill either be used by the indi-
vidual himself for his own pur pose, or loan
| ed to imporunate friends whom he may
wish to accommodate, and who are sure moi
to be able 10 return il when called for.
Il is'said Banks are irresponsible, there.
fore not to be trusted. In my opinion. gen.
orally. they are more responsible than indi-
viduals They have more means with
which to pay, and il they fail TO make pay
ments when required, they are as much
amenable to the process Of a court Of justice
as individuals are; and in addition. they
are to be found with much more certainly. as
a corporation aggregate can very seldom alb
scond. or leave the country. which an indi
vidual easily can. and often does do when
he misuses the public money.
We need all the checks which can reas.
onab.y be imposed on our collecting and dis
bursting officers. Banks have been found
TO furnish one highly beneficial upon both d
these classes. BY regulation between the
Treasury Department & each deposit Bank
the latter has been required at short periods
Ito furnish its account current with thu
Treasurer, and on the face of il to show all
sums deposited to his credit. when such de.
posts were made. and by whom. BY com
pairing this accosnt with the accounts furnish
ed by the respective officers themselves. il can
readily be discovered wheiher they are misu.
sing the public moneyor not. BY the propos
ed change, and allowing the collector or re-
ceiver TO be himselft the Keeper until the mon.
ley is wanted for use, you have no check
Whatever. aud the whole money received BY
an officer may be squnndered before il is
wanted for disbursement, without any means
lof detection.
j l, therefore. conclude the Sub Treasury
Bill ought not 70 Be passed. if,here were nc
other objections to il save that Of the public
Il money being less secure. But there are
other weighty objections tg
i The only plausible reason which can b.
Unsigned why we should discard Banks ca
ltirely and appoint b-Treasurers keepers o
1.-The public funds, must be. that the Bank.
are unworthy Of confidence
j If thai bc SO. does It necessarily follow
THAT you ought either not to receive any
Bank notes 10 discharge Of it's due 70 tbs
4 government. or II received. that you shouIt
j order the officer with whom they are deposi
ted for safe-keeping. i,nmediatelyto cali up
Il on the Banks for specie TO their amount /
4 lis absurd to say we will not deposit With ths
i In nk because we have no sconfidence IN il