The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-04-28
Conespondepeeef the Charleston C0u''s.; %
Z WASHINGTON, APRIL Is.

= WASHINGTON, APRIL 10.
We learn tha. the system of: removals
from office is soon sd 60 faPidiy on. unrer ,I
the principles declared in Preslden' ~ ~.
LER's Inaugural, complete change ge,,sa,s ~ I,ae
revenue officers Of the port OF Ih''a"I ~.
phia, has taken place. Four or nVe1i 80 .;s
subordinate officers, of The fhiIa"eiPi.'"
post Office have received notice 10 quit
on the first of the next month. =,
Several changes in Consular ana o'ne.
foreign agencies will be announced 'ei!
soon. .-,....,-..;,,
The extra session Of Congress. VIII
soon bring political questions to an Issue sue
There is increasing and manifest '''a,hs. ..ao
ence as to the result. even among muse
who were hei etofore clamorous ior
National Bank, and distribution OF the
proceeds of the sale of the public lands.
So far as the. President is concerneo' IT u
NAV be considered as certain, that ne WIZ
noi oppose any banking machine Tor CIV
ing effect to the bowers ofthe goSerh''len.'
that may be agreed on by Congress
But, ia the absence Of any rccommenaa-
lion o: specific scheme, except what may may
come from the Secretary of the Treasury
and in the absence Of any executive IN
fluencc, in its support, i. is not very pro-
bable that Congress will be able TO agree
upon the details Of any banking system.
First we arc met with the pract'cai
difficulties of obtaining such confluence
and credit for National Bank, as would
ensure subscriptions from private capital
lists, at home or abroad, to its stock.
Without the aid of government credit in
some form, the capital could not pc o9,
tained The form of funded debt would
be the most convenient. But, if under
stand the Inaugural correctly, resort to
debt in the time of peace, is specially de-
preca,ed by the President; and he recon.
mends the adoption of such system oil
revenue and expenditure as will enable US
to avoid the necessity of o debt. But
there are many other difficulties 10 be met
in settling the details Of bank. Inc
mode of securing an honest administration
of bank is not the least OF these al.
ficuties. Some propose to take it out Of
the control Of Spectators and business
men-whether Of Wall street or Chestnut
street--and appoint Directors through the
agency of Congress, who shall be resPocn-
sible 10 Congress. But, are we sure that
men who deal in politics are less easily
tempted than those who deal in cotton, IN
stocks, coal, lands. and groceries!
Suppose bank Of dePosite and issue,
without the power Of borrowing money,
be proposed. 1t would answer the pur-
poses of fiscal agent Of the Govern
ment;-but j. is objected 10 this plan that
it would do no good-make money no
plentier-and be Of no profit to stock
holders.
The Senate will stand q to 25 on the
abstract question of National Bank
Should any one Of The 27 prove impracti-
cable in regard 10 details, the measure
will be lost;-for their is no longer any
Vice President to give a casting vote.
The Presidentpro tempore will vote as
Senator. l see liltle or no chance, there
fore, of the passage Of bank charter at
The special session. The Sub-Treasnry
will, however, be repealed, and we shall
fall back upon despotic sys.em,-making
use Of specie paying banks, as fiscal a
gents, wherever they can be found. The
revenue will then be paid, under a law
enacted for the purpose, either in Trea-
surv notes, in specie, or in the notes oil
hanks pay able and paid in specie. This
will encourage and assist the local banks
10 resume, and maintain resumption OF,
specie payments: and will drive the bro
ken banks into liquidation.
L.. a.. M.,. HorL In,,rnnL nf Cnmmsrce.