Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-08-25

A. Al
hnd arc We, repeat, to be justified in vuhboldin
tue benefit we could confer upon them No in,ne,on,
yteqn'red and so indispensable to their well helms
thiok not. The question then i. wb,,hsr ,Lis !
| sredf WIG purposes ue
IL uuets IRON the institutions which have bee
heretofore established in one single ,mpostnn, mar,
hSI, Su, oenese, IN one only, and that - IN with
| "u's"S rom u the power OF making local discount,
u mas unlimited power to deal IN EXCHANGES Le
.~ee" the United States and foreign nations, an
| oc'Weeh The States OF this Union IL lac = min,
"n,on WI, enable 1t TO do a sufficient amour.
anu WI give 1t the required credit. IL has aut. o
ty 10 issue notes, and its notes will circulate I,
| cnN throughout the United States with a uniiorn
'aIue, or as near II rs possible. And, therefore,
"ppemS 70 me 4, will accomplish the purposes ne
| SeSsaty Tor the Government and the Peop,c to m
same extent, according to the pow or of its c,pt,I
as those other institutions | mean in the most i'm
| Por'ant polnt-m facilitating exchanges md ,ivip,
| " u"'otm currency. think II will be equal I,
! lncm IN effect. l think It will answer the SAM
! purpose; II will answer the purposes of the C,y
erhneni, Tor the business Of the institution will n
! IN inc Inc which Is required particularly for ,b,
oNe'nmen'i that - TO say, IN exchanges upon d c
| 'SIeh' portions oi the Union, bv means of ubieI
the institution will be able readily TO tr,psf.r ,L
puoNe iunds from one portion OF the United State,
'" H"''her' Agencies, as respects both the Gov
o'""'ehI ana the People, will be as vfcCtua as Off
eeS OF discount and ccposltc and free from IN. oh
lection TO loca! loans. This icing certain 10, -,
revert tor lew moments, again TO the IN, por,,,t
point which have alluded to-of tho scr,,,,,,, =,
1ne uoseFnment as 10 the money, not only Thai
"h'h u mas IN tho Treasury, but The money b;rL
1t he's IN the hands OF the coilectine and I,;
oheers. Observe how easy 1t will be to rcg,,I,ts
anu enforce accountability and to dctect anJ cberL
deinqnenees and defalcalions
wiz oe' IN It's operation, eSic,y like the carly
treasury system, exhibited in the report of /, c,,,
m'uee OF this House on the state of Tho 'rr..,,',
ABOUT the year 1896, where YOU NAV find the n,boi.
management OF the Treasury Department stated AT
~ WIN most pointed appreciation OF that mart
ni II according TO which the whole of IN. ,,nr., :;
deposited IN the brnk TO the credit oT H. rI', 70
"nu no individual has power over it, IL i, 80 gu,J
ed that II can be dawn only with IN, rn,cu, -.
Se'o'"' omcers each check upon the Others
ana no man con depredltc on il yIrbcut liz L,nn,.
edge and cooperation of the res, -, - ~
Impossible. Again: where YOU have coiI.c,;n,, "a;
GERS how easy IS II, with such an institu,i,n y,
I"s VI "e'' uuty, TO require :hem - deposi q the
money as rcc-tved IN the nearest nI,ce 81 5,,,,,,
OF the institution, where II is nI,reI L.,oI 'I
Te'ch. SO with regard TO the disSursing o,F;r.rs -
10" easy - II TO require that Jsbursins officer
sh'I deposI.c the money m such an ,psr,,u,i,,
Mncfe Il shG'l DC secure and safe, and to pay by
uIai's or Cheeks so that the bank account MI bc
MS account, always accessible TO the pr,rs, o,r.,s
y me rcaSuTy Department A very grca, ady,n
''Nc OF Ihese arrangements 10 the Treasury Den.rt
he'' Is tnlS; they simplify its hUsIucss-tbev re
s's " u"m INC injurious pressure whc has been
up u H. occupying tmo aud attention to the ma,
'oii'oe neglect OF other dutics. How much nf
yV'' nave oeen occupied II deyising the means ul
'l'U'utnc, aud distributing large rmourt. 10
auerS a universa! jarl How much IN workin,
.ranSitTsi All this can be done and bs,f,, -
10y such an institution, without .Su,nSe -, 49,
''"ehce. Ana then another signal ADVANTAGE mi
o"s. Beng relieved from tie irregular o.ru
pa'lo"' "hich mus tie as distressing TO the off
-.IS as Il Is 10 the public, they viii have NOR.
ne To watch over Individual accountability. Tbev
VIII nave a better chance OF order rcgui,t,,p
ma OK ,tness IN their more appropriate duties
" va! have more leisure 10 take Gre tb,t ,bl
o"eeior does not get into his hands g 800 900 of
he pubic money, Tor wan. OF accounts NJ co.
want Oi tune 10 examine them
80 iulty an | cOnyincei OF the recessi,,. ,s ,,.r
4" "hsu'utloi, mat think It absolutely impos,,hI.
mat t"e Constitution Itself can be sh,Iy admits
t'eu without I'll mean administered in purity and
10 TuIh, ana administered IN a manner To rswc, m.
purposes Ter which was designed If vour Trrss,,-
y IS overloaded with muffin led and rcongrIo.is IN
es; u CO .ectO.s and diS5us srs canry, be ken, IN
''Er' ana suUJec' 10 constant control 70 an extent
'-ihcient to prevent them from dcpredating on the
puplc money, what IS finally 10 become Of the true
principle OF your GOgcTnmen2 Can YOU maintain
NO Clnyou preserve ~ Consider what the priu-
-ipe Ol That Constitution Is-thc leading the vital
rne' IL - That Goyernment is constituted by the
feop'e and Tor the People, and is 10 be administered
shcus.V"iy for their benefit The first dury which
arises from regard OF this great principe H. ib.t
you slou take from them no more than isTeuui,Ite
'F The genera concerns, and that you shall take
-SOu care Ihat what IS thus committed to you shall
no. be wasted or deprecated upon. You are suuaI.
y uOGhu 20 ADOPT such methods rs will con luce 10
ms end Lcok, then, AZ the cKDcnsc, of collect
ns anu managing, how they have Of late Increased
LOOK at lhe deidcatIons winch have occutred-con-
'ider their elormliy. Think how the trusts
81 the public money have been neg elected or be,r,v.
co. EsPec ally, consider that remarkable in
stance investigated by a committee of this House
I on " iIi recOiiect how that gigantic amount was
-uHe'eG 20 accumulate. do not wish to find fault
particularly with any one. | have no doubt that a
great deal Of the fIult was IN the system or want
Of sytem, which you will. Can your Cons,i,r,tion
work under such state OF things If suffered TO
conunuel Is mere nOta cousa tendency 10 teyate
rom ITS true principle; To DEGENERATE from prop,r
regard for the interest Of the People OF this country
into condition III which the Government Sin ,II he
conducted Tor the benefit ftho5e who are employrd
10 carry or; in which temptation W no be contnu
al y presented 10 those who are EMPLOYED; In which
the weakness OF our nature IS 10 be constantly act
cd upon by the opportunities encouraged by exam
pie; stimulated by the probability of cscapng de.
lection, or the beguIlng hope OF being able TO re.
place what - TAKEN and, at oil eycntq, OF prcftng
by the irauti Can your Constitution stand tim,
You may tell me OF other GOvernmenls-perhaps
cite as many as were named to support the sub
Treasury scheme, and some ofthc very same. But
the principle and character e those Governments
IRE different from ours. They arc monlrchies or
icsp0isms. Ours Is a republic, which [ hope |
need no; say Is quite different thing. Nor is il
only the public money We are suffering 10 be vast
ed. There is a greater treasure sull The public
morals are injured.
The hour having expired MIR S. resumed his seat,
without concluding hIs rcm,ks.
Mr. WISE obtained the fl Dor and addressed the
committee IN opposition 10 the bl and on the sub
Icc' Of the Veto, the Cabinet, sc.
The hour owing elapsed
Mr. IURNEG rose and moved 20 strike on, the
enrcting clause uf the bill.
The CHAIRMAN decided that this motion took