Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-08-27

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10 Edward Ill, that his heirs should disnu,e aho,
men, rs Tor inck of sheep each by turns srcurn, All
ne c"''" "' FfSh andJW by The slaughter and confis
eaton OF such as he could lay his hands on Soeynn
~ CUR ." y ''oe, SPAN has been Gcluged with blood
~ Trying tile question whether the people of Thai nm
h1ppy country ARE - prnparte of Iha ru:i,o Gle 80
TIE s'fu'prt Christina So il will ever be rs lon 80
'he ps"Pe "e content To receive true The nrenisrs
wh'ch 'he Parlrs conttnd,ng Tor power think proper
!" agfee upon or!%rrn themselves ii admits ola rea
sohanie a""o whether, from the nature of The ib;ny
they are nat always fa.r Soms,;r.s ,bo d'-
hra themselves deceived. Sometimes they nrc ,y,r.
OF the 'fnn and even .ink 1t polite TO aogd -l,mos,
n u |" tne renpe But the naktd truth. the 7rjo;,
u'"' "'." ""n"@ "nt the truth, is never laid before
| tle'' Even wien they told Of all their rich,s
there IS always an extravaganza and eyonna,a.;
"ch feVoits men OF sober minds and in pract;ca il
sure 10 end IN abuses from which they are rod IN
cape by Il surrender of all right " -
Hence do not Halter myself, that what have said
and shall say will meet the entire appreciation of load
ing men OF any party. | am conscious, that. were
an aspirant after power, (and think Sir NON know
that am not,) should feel the necessity of m,ira,ino
propositions, exaggerating Others aud nodfyiue
almost all You yourself will agree with me in nans
things but there will be points which you will doub
whether you, President IF tie L S, can afford Il
agree with me altogether. This is one Of them 70,
feel this TO be true, bu. cannot admit Il.
have inlimated that lie alternatives before the
People have not been fairly stated; and beg leave Il
take up each of the three branches and by separat,
examination of EACH to show that choice of mea
sures we have much wider range than is commonl,
supposed
In begin with the Pet Bank system. have not
word 10 say in favor of IL or in favor Of Pets of any
sort. But | beg leave 10 asa, why il is, that III this
connection we never hear of the Stale Banks, but by
the odous of Pet Banks; Why is this form Of
speech always uscd Why, IN The bare stating Of ihr
proposilion, IS term always introduced, which, al
once, condemns II? Is il not because can be
~
b. natura! or artificial crsol.s And is il
that, in the experiment heretofore made good ra.
iaiended.' How came IL to fail. low came the vide.
spread ruin III, which il Involved the country Was il
not that IN selecting the Repositories Vi the public
treasure, i, was made condition Of The favor that they
should discount on il, 10 the utmost possible extent:
That they should apporion their accommodations TO
The money IN their vaults BY the rule which ought
TO have governed them, il il had been ali their own
And was mol this persisted IN after distribution
among the States had been decreed, and, part,
RED INTO effect, What but ruin could be- The ccnsc
quence: Add 10 this The operation Of the Specie Cir
cuar, and We looking back The transaction, must
see that II they who managed the experiment had de-
signed To ensure failure disastrous possible 10
the Banks, tie Treasury and the People they could
not have better chosen the means OF accomplishing
their purpose. Yet these causes Of failure not
much defects in the system itself rxtrancous
Influences g1niuitons!y suPerinduccd
Passing by these then, let us 70 back To the system
properly called, and see what il was, and what II
might have been. The selection Of depnsi,e Hanns was
made and continued at The arbitrary pleasure If tie
Executive Would ii hnve made difference, il IT
had been mad, bv fixed rule Of Law, aud then If
revocable except by authority oilaw Attempts were
made 10 establish such rule. Were They made on
sound PRINCIPLES Were they even made in good
faith What, If the selection in each State had been
ieit 10 State authorities, and only allowed in favor Of
Banks whose paper the State should herself receive
IN payment 81 her dues What # the privilege had
been denied d The Banks at any State, whose banking
capital shou,s bear than certain proportion 10
her population; What, ii had been drhied 10 any
Safe which ,lould rcm;t iors,'uTes for non-paymrn
u specie And when assnca;ion al Banks he'd
thus been fo.ined, which all parties might rely,
what should gave hndcred Tie requirement. that they
should take cch others paper al par, and adopt such
Other rcgu.a ons mgEi enable the Government TO
ccc: distant exchanges wiIoG, loss Would such
provisions hsr- made difference in the working Of
the scheme !: Who say they would moi have mace
il clfcc;ra! Who can say they would not have al
ioiGrd prevailing inducements 10 tie State 10 eXer-
cisc Under siu;ary, sel.imrcsed restraints their IN.
doubted, ihou.a dangerous power OF creating Banks
Bat was any attention pad 10 CONSIDERATIONS 81 tins
sort: No, Sir. We heard o.! no conditions TO h. pro-
nosed, but such Us had reference 10 the hard money
humbmC There was talk ahnu, issuing no notes under
$50 or $50, and no Bank 10 have the depcsies
HAT did not pay specie THIS they all did, as long rs II
made no difference whether they paid specie o. 10
and thea tie difference between specs: ard
paper became matter of any importance they all stop
ped payEleG. together. WAC then can say, tia, TIE
aos. bi!ity Of usny tic ot- Banks deicsasies OF
nuhc money las had lair trial
There las been the Ike disinge nucn-ncss on boih
sides in regard to the Sub-ircasnrv WHEN air Iai-
aou. ,iss, made demonstration IN favor O! thai iea-
sure. il was lncd 10 him iha lie occasion would al
lr, fair opportunity 10 h!lGg forward and cstaos!
most sulmary principle oi constitutional law, aHi q
:l;.ale safeguard against the ACKNOWLEDGEMENT oil our
finances 1t obviously called 10 mind the distinction
between those officers whose function 1t IS TO receive
aud keep the public revenue, bi"rc appropriations, ana
i!insc 10 whom il is 10 be committed IN riFt"c oil aPrro-
nrlaion. and wo then charged with lis disourse-
inea; Considering the public treasure rs belonging
TO The people, in the first instance, and continuing 70
be their property until appropriations All political anaio
es des,anae their Representatives. III Congress, from
whom alone appropriations prncccd, as the constr
,uonal keepers Of the public purse u 50, li' Gus
tolv Of lie money Of the people, up to That time, y
function which cannot be appropriately c'hini,'1 ~
any hui officers of Congress Such shouid We an oi'
GERS whose duty Il u IL exercise, on hrhaii OF .o"
,.ss any function which cannot ne directly peri"Tn-
I'd L., The present action Of the body itscil. vi Tins
nature Is the keeping Of the journals and Inc custody
If ,ie archiyes Of both Houses. They appoint lher
own Secretaries and Scrgeants ana they receive 'her
,v n Inc hands Of these. How then can the Cons'i-
uiop which secures 10 eaci House the appointing NJ
or its own officers, deny them the power 10 commit
,la cu.,ody Of the public treasure before appropra-
on 10 an officer appointed by the an vote Of Dp IN
IIous,s or 10 the jont 81 officers appointed ny
aac ,,,use respectively: Such officers would be, ~
the sense Of The cons''ala o'ee[s Of o"n5ass
Iwbc, the Constitution calls "taklng II Out oil Tue
Treasury, and by whom il to be dsburzed are OIL
GERS of The President
These IDEAS are said 10 have been approved by Mt.
C,loun and he is reported to have declared, That 'hey
formed part Of his p!an to be brought l9rwor" al
nroner time. The sincerity Of ihs declaration was
49,, donb,ed br snn,e who, rejecting on The ad-
vantage Of Mr. cah"uns position at Tue en- m0"r han
thought could be no better time 'am aa II sueh
~ pInn condition precedent to his cooperation with I'D
Mr. Van Buren,. The Importance OF hir caihoun "a
sas manifest to every body. Without H. tie measure
conl not have been carried through the senae' ana
Mr. Van Buren, would have been slad 10 pnacn.sI -,
' CONCESSION, which be could hardly be expected u
make gratuitously, when he should have gained us
nmd In his earerness clutch The pubic purse nc
;h, have been content 10 receive IT, cmpiied o. !"
~, If is contents The wondcr was, how NJ, va
ponp who coupled his support Of he measure WIZ r..
,cd ayowals Of his G;strust OF the mon, Should ''''
fo,oJ HIM ~ surrender any portion. aii'r having -