The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-24
THE MADISO MAN +.
The following article from the New York Journal
Of Commerce contains sensible thoughts, though
we do not concur with all Of them

1
The following article from the New York Journal
Of Commerce contains sensible thoughts though
we do not concur with all Of them;
| WHERE is THE Treasury 1T Is where il should
be- in the Treasury office at Washington and the mo-
ney is where il should be, mingled in the common
channels Of business with the money Of the people
The long agones about the separation OF Bank and
State and the regulation Of the Banks by the
State are both over and the business Of the Govern.
ment reposes with the business of the country. The
pecunaiy transactions Of the Government of the
nature with those of the merchants and cannot
be managed except Though the same channels Mel
Their Fiscal Agent nor Sub Treasury separate
the Government from the people The revenues OF the
Government are chiefly collected in Boston, New
York Philadelphia, and Baltimore To simplify the
matter let suppose that all these collections are i'm
mediately RENTED TO New York-which can be done
without a fraction of expense. The money is to be
dsbursed in all parts Of the Union not by carrying
specie TO all these points in wagons, nor by buying
bills Of exchange payable there but by forwarding
Treasury drafts payable in New York. TO the point of
disbursement rather ordering the discussing agent
to draw on New York, and sell his drafts for specie.
The drafts would be bought by the merchants and
would uniformly command premium in specie. They
would come back through the channels of trade TO
Boston, New York. Philadelphia, and Baltimore and
often through other places. The outward and inward
flow would counlerpoise each other just like the cir
culaon OF the blood in the human system. II is me-
cessary that the Government business should Dgle
with the business OF the country or the action Of ex
changes will be in some measure disorganized. The
obligation TO collect and dsburse the public revenues
used to be represented by the late Bank of the United
States as very burhensomc, until the business Ia
ken away, and then the Bank threatened to the
Government for taking away from It great source Of
convenience and profit The chief advantage Of a
new Bank felt to be its priuiege of transacting
the Government business 1t will be easy for the Secre
tary of the Treasury to find agents. who this
privilege will give ample security and transact the bust
ness with the utmost exactness Money in New York is
money everywhere, and II the system can only be left
to itself will regulate itself the circulation will be
Kept up from the centre to the extemitcs and from
the extremes to the centre, BEAUTIFULLY the
lions Of human life. The notion Of regulating this
action Is Just as erroneous would be the notion OF
putting force pump into the heart to regulate the
blood. Nature has made her systems compete-they
want no additions. The business of the Government
Is larger, it may be- than that of any individual or
company, but il is very small compared with the appre-
OF business will always create institutions large enough
To take in the business of the Government so that
there never will be any better for providing
separate conveyance for Government funds, than TO
provide separate line of steamboats, 10 carry the Pre-
sident and Cabinet when their excellencies might
wish TO move about They personally but many
OF the people and their business but portion of the
general business of the country
u seems to US, therefore with Difference to all the
world, that both political parties have been wrong
and equally 50 in their effort to separate The business OF
the government from that OF the country to erect
an institution for It's especial accommodation. The
fact that both wrong has caused both TO be defeat
ed. There ought to be neither Sub-treasury
National Bank and while this is So the effort ar
range the details of either, will be unsatisfactory
The fundamental principle is error and details
cannot he so framed as TO its character Both
there FORE President Tyler truly declares have been
rejected by the People The Sub treasury was use
less the Bank designating, and both very pro-
perry repudiated,
The notion Of Bank of Exchanges merely, which
is now all the CO. is an error the ground of expedi
ency, as much as the rest II may be constitutional
possibly, in preference Bank of general discount
but it is not wanted Its action would be mischev-
Gus SO far it was felt, and would in the end dis
honor the party who should erect it, 1t is w,hal an
acted upon The good Being who has made the
earth to bring forth abundaDtly, is blessing us en-
every side The People have turned themselves from
speculation to useful labor and from squandering to
economy. In this way they have generally put their
affairs IN a good state. The nation is rising with
steadiness and security from its mercantile depressions,
and will continue To rise until II reaches pronder
position commercial country, than 1t ever occupied
before The ascendant party may take to themselves
much of the glory they can. The chief blessing
they confer the country, Is TO let 1t alone
Prosperity does not come from Washington, but out
of the ground and from all the useful labors Of vgo
rous industry What we want of government is not
regulation, or help, but security. Both parties are
efectuay defeated in their attempt at the ultra
ism of separation and regulation II grand stride
in personal liberty. If remain as we are, (and in
our judgment both parties are s'checkmaed and must
be quiet) the country will go on with a degree of
steadness which regulator could produce. No
such revolutions have swept the country three
times in twenty five years. will ever again No
thing but government regulator has power enough
to stimulate the expansions which break with such
desoating power. The Veto has put the country in
the right position. Let the country sustain the Pre-
sident in his Independent and moderate policy, and
hall ha yxh n
years controversy has not been able to secure.