The Yazoo Whig and political register. (Yazoo City, Miss.) 1840-1842, 1841-12-24

sums as may be called for by the depodtors, may
so far fill up the channels OF circuaonns greatly
to diminish the necessity of any considerable issue
Of treasury notes.
A restraint upon the amount oil prvats deposites
has seemed to be indlspensably necessary, from
an apprehension thought to be we'll founded, that
in any emergency OF trade, confidence might be
so far shaken in the banks as to induce a with
drawa from them OF private deposies, with q
view TO insure their nnquestonable safety when
deposited with the government which might prove |
eminently disastrous to the State Banks. Is It OBJ |
ecfed that it is proposed to authorize the agencies
TO de in bills of exchange! 1t is answered that
such dealings are TO be carried on at the lowest
possible premium-arc made 10 rest or unques-
| tiouably sound basis-are designed d reimburse
merely the expenses which would Otherwise de-
volve upon the Treasury, and are in strict subor-
dinaton TO the decision of the Supieme Court,
in the case of the Bank Of Augusta against Earle,
and other reported cases; and thereby avoids all
conflict with State jurisdiction, which hold 10 be
indispensably requisite. 1t leaves the banking
privileges of the states without nterference-looks
to the Treasury and the Union-and, while fur
nishing every facility the first, is careful OF the
interests Of the last. But above all it is created
by law, is amendable by law, and IS repeaIable 10y
law: and welded as | am to the theory, but look
ing solely TO the advancement OF the public good,
shall be among the very first to urge It's repeal,
if il be found not to subserve the purposes and
objects for which ii may be created. Nor will
the plan be submitted to any oVerwccning conf
dence in the suiflciency OF my own Judgment, but
. with much greater reliance on the wisdom and
patriotism Of Congress. ! cannot abandon this
subject without urging upon you, in the most en-
: phatic manner, whatever may be your action on
the suggestions which | have felt it my duty to
submit, to relieve the Chief Executive Magistrate
BY any and all constitutional means, from con.
trolling power the public treasury. If, in the
plan proposed, should YOU deem it worthy of YOUR
hat IS Dpt
as YOU may desire, YOU will doubtless amend il in
that particular. For myself, disclaim all desire
to have any control over the public moneys, other
than what is indispensably necessary, to execute
: the laws which you pass.
n Nor can | fail now TO advert, in this con-
: nection, to the debts which many of the
i States of the Union have contracted abroad
= and under which they continue TO labor.
" That Indebtedness amounts TO a sum not less
i than 5000 900 900, and which has been re-
Q l7buted TO them, for the most part, in works
} of internal improvement which are destined
d 10 prove of vast importance in ultimately al
d vancing their prosperity and wealth. Fo
, the debts thus contracted, the States are aIon
= responsible. | can do no more than express
,s the belietthat each State will feel itself bOunt
Is by every consideration Of honor as we'll as 0
n, interest, to meetits engagements with pune
e tuality. The failure, however, of any one
E. State to do so, should in no degree affect tht
I credit of the rest; and the foreign capitalism
will have no Just cause TO experience alarm
- as to all other State stocks, because any on
;, or more of the States may neglect to prOvld
h. with punctuaity the means of redeemin
,e their engagements. Even such States, shoul
Id there be any, considering the great rapidit
an with which their resources are developin
K themselves, will not fail to have the means
SO at no very distant day, to redeem their obi
" cations TO the very utternost tarthing; no
ns will doubt, but that in view of that honor
o. able conduct which has evermore gOverne
Sc the States and the people of this Union, the
on will each and all resort to every legitmat
or eXpedent before they will toregO faithful
a compliance with their obligations.
~ From the Report of the Secretary of War
be and other reports accompanying it, you wi
r. be informed of the progress which has beeI
CHI made in the Notifications designed for tn
protection of our principal cities, roadsteads
ne and inland frontier, during the present year
llg together with their true state and condition
nI- They will be prosecuted to completion wit
in all the expedition which the means placed b
,m Congress at the disposal of the EXecutiv
= will allow.
IN recommend particularly to your consid
yer Grafton that part of the Secretary's repol
rus which proposes The establishment Of a chat
10 of military posts from Council Bluffs to som
On point on the Pacific Ocean within our limits
tes The benefit thereby destined TO accrue
re- our citizens engaged in the fur trade owe
to shat wilderness region, added to The impor
= ance of cultivating friendly relations wit
Try the savage tribes inhabiIng it, and at til
ties same time of giving protection to our fronie
> settlements, and OF establishing the means
~, safe intercourse between the American set
rds Elements at the mouth OF the Columbia River
as and those on this side of the Rocky Noun
has tains, would seem to suggest the importanc
in of carrying into effect the recommendation
ou upon this head with as lt:le delay as may
practicable.
an The report of the Secretary of the Navy
The will place YOU in possession Of the preser
cd condition of that important arm of the nation
n. al defence. Every effort will be made /
its add to its efficiency, and cannot too strong
an ly urge upon you liberal appropriation to tina
ley branch of the public service. Inducement
at of the weightiest character, exist for III
ry- adoption of this course Of policy. Our ex
ca tended aud otherwise exposed maritime tror
III tier calls for protection, TO the furnishing
III which an efficient naval force is indispenss
ali BILE. We look to no foreign conuuess, nc
EN- do we propose to enter into competition wit
ur- any other nation for supremacy on the Ocean
lay but, it is due TO the security of the people
the United States, that no nation should
lay permitted to invade our waters at pleasur
my and subject our towns or villages to contis
en- grafton or pillage. Economy in all branche
of the public service, is due from all the put
'os lie agents to the peOple-but parsimony alon
Of would suggest the Withholding of the neces
TO sary means, for the protection Of our domes