The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-10-06
which the past so forcibly teaches. These are the
words Of the Circular: A "

which the past so forcibly tfachss. Aho'o - wy
words ofthe Circular; ~
Sin consequences Of complaints which have been
made of frauds speculations, and monopoiies IN the
purchase of public lands, and the aih whcn saiu 20
be given 10 effect these objects by excessive bank
credits and dangerous, II not partial facilities through
bank drafts and bank deposites and the general evii
influence likely 10 result To the public interest and
especially the safety Of the great amount OF money In
the Treasury and the sound condition Of the curren-
cy of the country from the further exchange of the
national domain in this manner, and chiefly ior BANK
credits and paper money, tho President OF tue oheu
States has given directions, and you are hereoy IN
structed after the 18th day OF August next 10 receive
in PAYMENT Of the public lands nothing except what -
directed by the existing laws TO wit gold and SILVER
and in the proper cases Virginia andsenpt provided
that till the 10Th day Of December next the same m
ugencies heretofore extended as to the KIND OF money
received may be continued for any quantity OF land
not exceeding three hundred and twenty acres TO each
purchaser who is an actual settler, or bona nae resi-
dent in the State where the sales are made
In order TO insure the faithful execution oil these
instructions all Receivers strictly prohipited from
accepting for land sold any dra certihcate or o'her
evidence Of money deposites though for specie IN
less signed by the Treasurer Of the United states Ia
conformity TO the act of April 24th loZo ana each
OF these officers is required to annex TO his monthly
returns to this Department the amount OF gold and
silver respectively as well as the bills received under
the foregoing exception and each deposte pank Is
required to annex to every certificate gwen upon a
eposite of money the proportions OF 1t actually PAID
in gold in silver and in bank notes. All former IN
strucons these subjects, except as now modlhed,
will be considered remaining in full force
The principal objects of the President IN ahoping
this measure being TO repress alleged frauds and To
withhold any countenance or facilities IN the power OF
the Government from the monopoly OF the pnphc
lands in the hands of spectators and capitalists 10
the injury of the actual settlers in the new States,
and of emigrants in search of new homes as Wen as
to discourage the ruinous extension OF bank issues
and bank credits, by which those results are generay
supposed to be promoted, your utmost vigilance Is re
CURED and relied on TO carry this order into complete
execution"
In looking at the Treasury Order itself, we dis-
cover il to be dated the lth July, 1886 and was
consequently issued just seven days after Congress
had risen; and it will also be seen TO cover three
several positions First, it requires that nothing put
gold and silver (and in the proper cases" Virginia
landscript) be received for the public lands Second
w. certain ndulgcncies given to actual settlers Tor
residents) over others Thirdly public lands merely
are embraced in this order while other branches oil
the eft before The order also purports
to be issued not by the Secretarys own authority, as
given by Congress but by directions of the Presi-
dent" And while this is the subject matter OF the
Specie Circular the objects for which it was sent forth
are openly avowed on its face and will be duly adj
verted to.
In order to strip the subject bare, and to remove
every difficulty which nigh. entange obscure il,
let in hmiae, and indispensable prerequisite,
inquire into and understand clearly the office and duty
Of the Secretary of the Treasury We find tho func-
tons Of this officer briefly but Complementary set
FORTH in several acts Of Congressthe first passed
in 1889 at which time the Office itself was created
and the second in 1900 embracing supplemental mat
tiers In the first mentioned act il IS said That
shall be the duty of the Secretary of the Treasury to
digest plans for the improvement and management OF
the revenue and for the support of public credit to
prepare and report estimates Of the public revenue and
the public expenditures to superntend the collection
of the revenue to execute such service
relative to sales of the lands belonging to the United
States, as may be by law required of him; to make
report and give information to either branch of the
Legislature, in person or in writing Gas may be
quired) respecting al matters referred to him by the
Senate or House of Representatives OF which shall
apperain to his office; and generally to perform all
such services relative to the finance he shall be
directed to perform" The act of 1900 says, "That it
shall be the duty of the Secretary Of the Treasury to
digest, prepare and to lay before Congress, at the
commencement of every session, report on the sub
ject of finance, containing estimates of the public re-
venue and public expenditures and plans for mprov
ing or increasing the from time to time, for
the purpose of giving information TO Congress IN
adopting modes of raising the money requisite to meet
the public expenditures"
From an attentive view of these two acts, complete
ly embracing the whole subcct-mater well as from
all practical experience herein, we clearly discern
(howcver it may be with other heads ofdepartments in
this Governmen that although the Secretary of the
Treasury is appointed by the President, by and with
the advice ofthc Senate yet, after he is appointed and
commissioned he placed regards his line ofmost
responsible duties entirely under the control of Con-
gress He is by the very terms of the law, to obey
and to report that body (anl to that body alone
in such manner, and at such times and on such top
les his general duties shall cnioin, they in their
discretion require His great source Of authority TO
act well the prescribed line Of his duties, must
all proceed from Congress and strict account oft
manner in which those duties have been performed,
whether of services executed or plans proposed is in
all cases, to be submitted to them clear and con-
scientious discharge ofhs high functions should make
imperative him to act with an eye-singe regard
to the Legislative wl-that will, not plainly violating
the Constitution itself That branch of his duties re-
curing him to digest plans, &c for the consideration
of Congress need not be here brought into view. If
he do less than required of him by law he falls short
Of his duty if he do more, he may transcend his au
thority and in either case, is chageabe for breach
of trust, and becomes therefore, answerahe for his
misconduct Excepting the bare recommendation and
appointment in the first instance, discover no
authority which the President rightfully possesses
the Secretary other than the right (and this an
extremely doubtful one) Of displacing him from Office
not at the mere fanciful will of the President to
subserye executive views but only when the Secretary
shall MAINLY lnnart from lis nrnner snhcrc