Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-10-03
TUE INDEPENDENT TREAsURY.


The democracy OF our country have reason o.
be proud Of the triumph they have achieved over
toe bank austocracy Of the nation, IN The passage
Of TBE lNDLFENDENT TRUAsUHT Law. The
success Of this measure Of " de.Neunce and
lbsrF from bank ,hraldam' We har bright
omen OF the future prosperity aud permanency Of
the Unioa for # the nalIonsl revenue continued
10 BE- deposited with banks, State or National
periodical reyulslous IN tie monetary aiia'-s Of
the country would occur that eventually must en.
danger the great structure of orr government
which now the wonder and envy OF the Wotld
The great object Of an Independent Treasury
IS 10 keep The revenue Of the county separate
from banks. which have violated the trust repo.
sed in them BY the government, and disregsrded the
laws OF the country, and place It for safe keeping
with the officers OF the government who are d..
vsety responsblet TO the people, and are bound IN
heavy bonds and penalties for the faithful per-
Torrance Of their duties No,wlthsnnd,ng the
ev1en, justice aud sound national policy ~ which
this proposition was based, there has been no
measure introduced in Congress since the lorna
ton OF the government that has met with such
unirng opposition as the Independent Treasury
Bill. Every means that human ingenuity could
invent has been resoued to by the bank party TO
defeat this measure: its object has been perverled
ITS features distorted into the mos, tnglliul shapes
ITS advocates have been shusod and nsuiIed by
mercenary politicians and a hrelgng press but
Notwithstanding all these base means to deceive
thu people. they have rendered heu final verdict
IN favor Of the Constitutional Treasury. NewI
now examine the provisions Of this much abused
law, and will then answerihe arguments that Wing
politicians have brough, againi II.
The Independent Treasury Law provides
Z" That there shall be prepared and provdcd,wIh.
IN the new Treasury building nov erecting a, the
seat OF government, suitable and convenient rooms
FOR the use Of the Treasurer Of the United States
his assistants and clerks and sufficient aud &C.
cure FIRE proof vaults and safes for the keeping
Of the public monies IN the possession aud under
the immediate control Of the said Treasurer -
which said rooms, vaults, aad safes, are hereby
constituted and declared 10 be, tbs Treasury OF
the United States, And the said Treasurer Of
the United States sha keep all the public MONIES
which shall come TO his hands in the Treasury of
the United States as hereby constituted, until the
same are drawn ,hereirom according to law" II
requires one fourth Of the revenue Of the nation
TO be collected ia gold and silver from the 3Oth Of
June lS40, and that each year thereafter an adj
ditIonal fourth shall be collected in like manner
until the Both Of June lS43, when all the dues of
the government must be paid in gold or silver
CON. In tho interim between 1910 and '43 that
portion Of the revenue that is not paid in gold and
silver will be- received IN the notes Of specie pay.
ing banks II provides that the revenue shall be
received and discussed by the officers Of the gov.
eminent and for this purpose there have been
four officers appointed called Receivers General
of Public Money These officers are located as
follows ; one in New York, ooe in Boston, one
in Charleston and one IN 81 Louis; those OF New
York. Boston and Charleston are to Be provided
with rooms, vaults sc in the custom House in
those cities belonging to the government snd
suitable building is 10 be erected in ". Louis for
tho Receiver Of that district. The duties OF the
+" Receivers General are 10 receive the public re-
uenue from Marshals, District Attorneys Rocev-
ers Of Land Offices and others that assist IN col
Letting the same, and to hold the money subject
10 The drafts Of the Secretary OF the Treasury
The Treasures ofthe Mint ut Philadelphia and
Of the branch mint at New Orleans are required
in addition 10 then other duties, TO act as Recev
ers General in their respective districts. The
"Roceiver Generan of New York is to receive
salary Of four thousand dollars per annunl, and
those located in Boston Charleston aud 81. Louis
ARE 10 receive salary of two thousand tive hun.
died dollars each. The Treasurer of the Mint
at Philadelphia Is 10 receive five hundred dollars
and the President Of the branch Mint at New Or
leans is to receive one thousand dollars per an
mum for the additional services they will render.
The Receivers General" as well as all other
officers engaged in collecting or disbursIng the
revenue, ARE bould in heavy bonds for The faithful
performance other duties aud the Secretary OF
the Treasury can at any time, with the consent Of
the President, increase the bond OF every Reeev-
ing or discussing officer Of the Government to
whatever amount he may think the safety OF the
public money requires. Another salutary proyls-
ION Of this law IS that II any Of the officers Of the
Government shall convert to his own use, IN
any way whatever, or shall use by way OF invest.
menl IN any kind Of property or merchandise, or
shall leave, xiih or without interest, any portion
Of the public moneys lntrusod TO him for safe
keeping, disbursement, transfer, or for any other
purpose every such act shall be deemed and adj
judged 10 be an embezzlemen, of so much OF the
said moneys as shall be thus taken, convertedln-
vested used, OF loaned, which is hereby declared
TO be felony, aud any officer OF agent Of the
United States, and all persons advising OF pnril-
cpatlng in such act, being convicted thereof be-
lore any court Of the United States Of competent
jurisdiction, shall be sentenced to Imprisonment
for term Of not less than SIX months, nor more
than five years, and to fine equal to the amount
Of the money embezzled.'
Such, fellow citizens, is The simple, safe and
economical plan for keeping The public revenue
adopted by the democratic party, whIclfwaS 6ls
suggested by the ilustrous Jefferson.
One OF the ohJee,,ans to the Independent Treasury
bili"-upon which edety Wing orator in the Union
hal rung the changes-is "that the establishment d
Treasury independent Of banks, would be- in eff
ect TO unite the purse and the sword in the 'hand
of the Executive or in other words thai the Pres.