Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-10-14

That the State Bank System occupied
/ high place in the estimation Of General
Jackson, there never was doubt; and it
was not until he went into the presidential
chair, that it was known that he was in the
least opposed to the Bank of the United
States. But notwithstanding his aversion
to that particular Institution, either be-
cause he believed it unconstitutional, or
something else, we have his own declara'
ton TO this effect:
i" That bank ofthe United States,
competent TO all the duties which may
be required by the Government, might
be so organized as not to infringe on
our own delegated powers, or the re-
served rights of the States, ! do not
entertain a doubt. Had the Executive
been called upon to furnish the plan
ofsuch an institution, the duty would
have been cheerfully performed"
Here then, it would appear that Gen.
Jackson was mainly opposed to the Bank
of the United States, on the ground Of its
unconstitutionality, since, had the Execu'
tive been called upon to furnish the plan
of such an institution, the duty would have
been cheerfully performed"-whereby,
he approved the whole system of Banks
including National Bank, provided 1t
was $50 organized as not TO infringe on
our own delegated powers,or the reserved
! rights of the States" But not only dc
General jackson believe in the utility o
Banks, but every prominent man at pres
ent in the Loco foco party, without SIN
gle exception--even to the Great Hum
bugger, that lined his cravat with Banl
notes, so strong was his faith.
Having exhibited tie high estimation
in which Banks acre held by the presen
Van Buren, party, and having no Jus
; grounds TO believe that they are in reallt
held in less esteem, now-but that all thel
Wanted aversion towards them is mer
pretence, to gull and delude the people
: whose prejudices have been wrought uPo
by spurious system entailed upon tt
{ country for speculative'purposes; we con-
!. now to the consideration ofthe
! SUB TREASURY;
q and will submit those opinions of It, whlc
: the present Van Buren, party entertaine
q when the measure was first brought befol
: the country, in 1884.
: The Globe said,
"Thfs is the notable plan by whic
Senator Leigh would diminish Il
: power of the Executive over the d
! positories of public money! Instea
! of suffering the President TO appoi
d one Treasurer, as he does now,
: would have him appoint as many
shouldbe convenient Or if the appoll
S ment were taken out of the hands
e the President, with the concurren
y of the Senators, il must be vested
: the head of the Treasury DepartmeI
l. to be made without their concurrent
e And when appointed, these office
l. must necessarily be, as all other Exc
IS utive officers now are, subject to rem
at val at the will Of the President. n
OIL Leigh attacks the Constitution itst
lie when he controverts these position
n as we shall hereafter show. A
IN these Treasures, all appointed by
Mt President, and removable at his W
as with all the public money in tn
nj actual possessiOn-in their poch'
cd desks, trunks, and Uaalts-are in
We opinion of Mr.. Leigh, the consti
1t tional repositories of the public n
p neys, in preference to the State tan
ad which guard the public treasure as u
he do their own, ouer aUhich the Prestd
1r- has no control, and to one Treasul
les who instead of having the money In
US actual possession, cannot possibly g
In dollar Of it into his hands for any OF
Inc purpose than to pay his own salary
1ks ordinary office expenses. IL as fo'
dit nate for General Jackson that he {
as not entertain Mr.. Leigh's opin'
the If he had suggested such a syst
s." what peals Of patriotic indigna
son would have burst from eloquent 5
and ators against the asa,per and tyr
!, in who desired to get the millions Of
cute Treasury into the Gerry hands of
hen partisans and parasites. y
fits Hear also the Richraond Enquirer.
y of GAS to the letter of Mr.. Leigl
U. may satisfy bis twenty-six friel
but it certainly does not satisfy
The letter which they have called fc
should call forth, in its turn, ano
'iia' letter to dxplain the true meanln
% that passage which speaks of divor
PSI all connexioR with banks, State or
~. y. eral. Do you mean they might
Tue T that the public money is tobe le
! the hands ofthe cusfom-house off
pa responsible to the President and
'nly' movable by him? If so, is Mr.. |.
sue, prepared 10 incur the irresistible
llgnl jectioas urged by the "Globe," an
was increase in so alarming degree
. anu patronage, and influence of the 3