Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-06-12

STATE banks employed for like purposes; and. dur
ing ne remainder fthe time. the funds Of the Gov
e'nneh' have been Kept and the finances admins
'rreu partly by banks and partly by individual oil.
cars anu agents The losses sustained b. State
olnA' ss deposioriss. during the first period Of
'"e" employment. extending from 1911 10 1861
s,eeaoy 10 -iaiemf M prepared by the Secretary
OF the scasury in 500 ard revised and republr'h-
ed m 1897, were Sl.U00676 In the hitter periud.
from 1888 10 1897. though no actu,l loss is believed
10 nave occurred, yet the Treasury and the country
suffered Inconvenience aud embarrassment from The
fiscal arrangements with those numerous aud dis
Connected Institutions. But during the forty years
that the two banks OF the United States were the
repositories Of the public money and the fiscal n
gents uf the Government, no less Whatever was sus-
tain ed. for my delay expense incurred ~ uais'
miiiing discussing the public mOneysSo iir Us INC
agency uf those institutions extended Ihrn' a. re-
CARDS the wants the Treasury merely the safety
OF the public funds and economy 10 their admins
tratiou e1perieuce has demonstrated the superior
utility Of bank constituted and adopted by Congress
as fiscal agent Il has alsp proved TO Us that tho
active business of the country, its currency MS ere
dlr its industry. and its commerce. are intimately
connected with aud dependent upon The iinancmi
arrangements of the General Government. ~ 'hey
he wlse and heneGcient. they indirectly bat Gilt
cen'ly. promote those great Interests oi IN, feo -
al constant and uninrm their action. they giHe'o
J. thusr Interests confidence and stability.
y Since the removal of the public deposucs from
81 Bank Of the United States in 1888. he Govern
" henl has had 40 perm nnent fiscal ase't anu ue-
~ hN,e financial system All has been experiment.
v tran ,er and change The business oil the CO inlry
has' welded to the unsteady impulse, ani moved
n Nrwk sod with wild irreguiary; OF one Ine s''nu
~ aiedN excessive action at another INK mo 'yt'
ei gy. And. m providing for The vans OF Tue
or sury, II surely important u look a'' 70 VIC
nj wants and tshe welfare of the community from 'he
'i' produces Of wnaose industry the treasury Is suP
IN ed.
en- And as regard. rhASc eroa, interests, We find The
u testimony Of past years IS 10 less iistiIet ami ssg
M IN favor of n monoyed institution chartered by ihs
General Government, and possessed offs confidence,
ar aud credit The period embracing the last tc,
III years OF The existence Of the ate Bank Of the mi
es ted States the fiscal nreni is flesh in Inc ,o-,
'd OF vs. ALL and rs looked bark pcfIJl 81 great
NC public prosperIivi and though other causes ii /
les doubtless. Cooperate produce that fivurah CON-
" dIhnn OF things yet one OF the governing principles
on which depended the steady al vance OF the conn
ny Try III commerce. IN industry, aud IN suh,ianl al
ny wealth, was the existence ola fiscal agani cstai sb
Ell. ed 10y the General Government and charged ~ I'M
OF he equalization Of exchanges and the rcgGalcn of
he the currency.
" In the present condition Of our country rhc relief
o'- To be anticipated from such Iusliu 10 n Re-
ro- Imm, date but must he the W. rk Of Tine T. 70 Il -
mes OF the country would, huwCye o., IN the npi 4, m
co. the un iersIgned, stead ard ceroi,ly Rive
ne under It's influence
its In whichever point OF shi the undcrsi med IS L.
ID theY
:" cIuson That such h.cil agent S. rlmrd as o. ms
~ sess h"se Iinpor ant huc,os Is alike essential Il
" ihe wants at the Treasury and oithe c5mmuuiiv-
>uch az institution should be framed " n del
" on' Tor 1t must have high duties 10 p.rDrm an OK
"i iensve Inrerestst1 tect and nrorno,o q;
ne be granted with care, Tor it will he aue l., pr.o
SUI and dangerous abuses As the fiscal age Il Of The
~ Government aRd an effective regulator Of The =, n
Hy' rency IN a widespread community II sho.lj IA,
Mea,'y anu nnihTm IN us acuon, au fixed aud sta
n bile m It's character
ng The Undersigned has NJ d,abt Oft. povv,, ..
e congress 10 create such in,tilHiol Erne.iepc,
hu has proved It's necessity 10 carry out obc- o., "a
granted pnwersi II has been cEorc ,sad IN rsc,ri
, sed by the legislative md Executive dcnor.fr7,,,
."' ihe Government during iourtfhs Of The WI 4,
E period OF our RlIIona! existence, aud u has rec, I've,
ho the unrt'm sanction Of our highest juIa. rriy,D
a. a.
csc Yet the power has been l1es'iple BY many visa
-" ana pi'rI'c statesmen whose opinions are entitled
" 20 consideration and respect; anI ga measure Hgs
'e mus "i hgh political import, winch IT. wisely con
'nc ceIyed and cordially concurred IN must iyc ,-e,
uu' a"d enduring nlucnre on the prosperity of IN,
' country, It - important FAR ne possible Il. o,,,,
lhe objections and resouCilc opinion
- u such an Ins'ltu ipI caI b, ., conceived f, ,,
"'c c'pe and guarded VA IL, details as u rem 80 =,
DC -cruples touching the question of co,.,,,,,, ~,
my power. aud thus ayoiI tn lection. yy,c, 49,.
az been urged against Ih0ss her.iai,rc rra,, I = .
u gre's d VIII, ~ the opinion Ut the u -ncI M,
I've duce the happest results and confer lasg and ,n
on Pnriant benefits o. the country
ha The unde rsgned therefore, respectfully recon-,
as mends The creation ofsurh fiscal agent and m. -
me peal ct the act oiJuIy 4h l5IJ proyrnr 80. fb
&C. collection sae-kceping traus.rr AMI fi.-,-s.
ne oi the public revenue except IL. pcp Il 80
"sa 'heref're. which viii probably reqa.r, eyi,n a.,
hy modification '''''' d''
W All winch Is respectfully submirsI
49,, T. EWING,
IN, -rur secretary Of III" Treasury.
Ugh - iot''