The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-12-07

ceise private deposlts 10 limited amount and TO
issue certificates in such sums as may be called for
by the depositors may 80 far oil up the channels Of
circulation greatly to diminish the necessity OF any
considerable issue Of Treasury notes. restraint
upon the amount of private deposits has seemed 10 be
indispensably necessary, from an apprehension
thought TO be well founded, that in any emergency Of
trade, confidence might be far shaken in the banks
as to induce withdrawal from them Of private de-
posits, with view TO ensure their unquestionable
safety when deposited with the Government, which
might prove eminently disastrous 10 the State Banks
Is II objected that IL is proposed 10 authorize the
agencies to deal in Bills OF Exchange II IL answer
ed, that such dealings are to be carried on at the
lowest possible premium-are made 10 rest on an un-
questionably sound bass-are designed TO reimburse
merely the expenses which would otherwise deyolse
upon the Treasury and in strict subordnation TO
the decision Of the Supreme Court in the case Of the
Bank of Augusta against Earle, and other reported
cases and thereby avoids all conflict with State ju-
risdicon, which hold To be indispensaby requisite.
II leaves the banking privileges of the States without
mterference--looks TO the Treasury and the Unon,-
and while furnishing every facility TO the first is
careful of the interests Of the last But above ALL
II is created by law, is amendabe by law, and is
pealable by law; and welded as am to no theory,
but looking solely 10 the advancement Of the public
good, shall be amongst the very first TO urge lis
peal If il be found not to subserye the purposes and
objects for which il may be created Nor will the
plan be submitted in any overweening confidence, in
the suficiency of my own judgment, but with much
SltdtcI OH tflc NlSuOHl anu Oh
Congress, ! cannot abandon this subject without
urging upon you, in the most emphatic manner what
ever may be your action the suggestions which |
have felt il to be my duty to submit to relieve the
Chief Executive Magistrate by any and all constitu-
tonal means, from controlling power over the pub
lie Treasury. If, in the plan proposed should you
deem worthy Of your consideration that separation
IS not as complete as you may desire, you will doubt
less amend i in that particular For myself, dis
claim all desire TO have any control over the public
nth thapx hat Ia ttIc t,I.
to execute the laws which you may pass.
Nor can fail to advert, in this connection TO the
debts which many Of the States Of the Union have
contracted abroad, and under which they continue TO
labor. That Indebtedness amounts to a sum not less
than S2000O0,000, and which has been retrbuted 10
them, Tor the most part in works Of internal inn
provement, which destined to prove Of vast i'm
portance in ultimately advancing their prosperity and
wealth. For the debts thus contracted, the States
are alone responsible. | can do no more than ex-
by every consideration Of honor, as well of inte
rest, to meet its engagements with punctuay. The
failure, however, of any one State to do So should
IN no degree affect the credit Of the and the fo
reign capitalist will have no just to experience
alarm as to all other State stocks, because any one
or more OF the States may neglect TO provide with
punctuality the means Of redeeming their engage
ments. Even such States, should there be any, con-
sdering the great rapidy with which their resources
are developing themselves will not fail to have the
means, at very distant day to redeem their obi
cations TO the uttermost farthing nor will doubt
but that in view Of that honorable conduct which has
evermore governed the States, and the People of this
Union, they will each and all resort every egiti-
mate expedient, before they will forego faithful
compliance with their obligations.
From the report of the Secretary Of War and
other reports accompanying it. you will be informed
Of the progress which has been made in the ortifca-
tons designed for the protection Of our principal
cities, roadseads, and inland frontier during the pre-
sent year; together with their true state and condi-
ton. They will be prosecuted TO completion with
all the expedition which the means placed by Con-
gress at the disposal OF the Executive will allow
! recommend particularly to your consideration
that portion Of the Secretays report which proposes
the establishment of chain of military posts from
Council Bluffs to some point on the Pacific Ocean,
within our limits. The benefit thereby destined to
accrue to our citizens engaged in the fur trade over
that wilderness region, added to the importance Of
cultiyatng friendly relations with savage tribes in
habng it, and at the time Of giving protection
to our frontier settlements, and of establishing the
means OF safe intercourse between the American set
Elements at the mouth Of the Columbia river and
those on this side of the Rocky Mountains would
seem to suggest the Importance of carrying into eff
feet the recommendations upon this head with as lit
tie delay as may be practicable.
The report OF the Secretary of the Navy viii place
you in possession of the present condition OF that i'm
portant arm of the national defence Every effort
will be made TO add to its efficiency and cannot too
strongly urge upon you, liberal appropriations to that
branch Of the public service. Inducements of the
weightest character exist for the adoption of this
of policy. Our extended and otherwise expos-
ed maritime frontier calls for protection to the fur
nishng of which an efficient naval force is ndispen-
sable. We look TO no foreign conquests, nor do we
propose to enter into competition with any other ma
ton for supremacy on the Ocean,-but it's due not
only to the honor but TO the security of the People of
the United States, that nation should be permitted 10
invade our waters at pleasure, and subject our towns
and villages to conlagration or pillage Economy in
all branches of the public service, is due from all the
public agents to the people-but parsmony alon,
would suggest the Withholding OF the necessary means
for the protection Of our domestic resdes from inya
sion, and our national honor from disgrace would
most earnestly recommend to Congress- to abstain
from all appropriations, for objects not absolutely
necessary but take upon myself without a mo-
men of hcsiiancy, all the the responsibility Of recon-
mending the Increase and prompt equipment Of that
gallant Navy, which has lighted up every sea with lis
victories and spread impershable glor, over the
Country.
The report Of the Postmaster General will claim
your particular attention. not only because of the val
liable suggestions which it contains but because of the
great importance which, al all times attaches 10 that
interesting branch Of the public service The ncreas-
ed expense OF transporting the mail along the prnci-
pal routes, necessarily claims the public attention
and has awakened corresponding solicitude on the
part OF the Government. The transmission of the
mail must keep pace with those facilities Of inter
communication which are every day becoming great
er through the building OF railroads. and the app-
cation Of steam power--but il cannot be disguised
that in order to do So the Post Office Department Is
subjected to heavy exactons. The lines of commu-
nicaton between distant parts Of the Union are to
great extent, occupied by railroads, which, in the
nature of things, possess complete monopoly, and
the Department is therefore liable TO heavy and un-
reasonable charges This evil is destined 10 great
increase in future, and timely measure may be-
come necessary to guard against il
feel il my duty to bring under your consideration
practice which has grown up in the administration
of the Government, and which, am deeply convince
ed, ought to be corrected | allude 10 the exercise
Of the power which usage, rather than reason, has
vested in the Presidents, of removing ncumbents
from Office in order TO substitute Others more in fa-