Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-12-06
NEW sERIEs.-VOL. III. MO- 10.

highest duties, than in creating artificial
bodies, to whom this same and still area.
Ter powers must be cOhfidedi Ifthere be
danger in the exercise Of such powers by
the selected public agents Of the people,
directly and periodically responsible to
them for all their acis--;s the danger
lessened BY transferring their exercise.
with The secrecy which invariably attends
the proceedings of corporations, to
those who are not selected By
the PeoPe, and not responsible
to them, but who hold their chartered
rights Tor longer or shorter term, By au
lmmutable law, which even the wlllof
the people cannot rescindi
Is not the only plausible objection
which has bsen urged to The exchequeF
plan, then-that it will increase the
power ofthe Government, and particular
ly Of the Executive department lis it
not unfOunded and irralionall Al. p,JW-
er is liable TO perv ersion for improper
purposes, but since it mrst exist, the
true question is, where can it be most
safely lodged! The American people
baVe answered this question, by decIar>
Ing that their own representatives and
officers chosen by themselves are the
most safe repositories of those powers
with which Government must be clothed,
for the protection and defence Of all II
the constitution would permit the selsc-
| lion oflhe experimenting officers by 9TH
er means than the appointing power which
it has created, let those IN sans be adopt
ed, according 10 the invitation o. 7IePresi-
dent. But, until hey can be derived or
obtained by the consent Of states and
the people, we have the same, and even
greater security, against the abuse of
such powers, than we have against the
abuse Of any other power vested in the
Executive. The means Of obtaining
full and perfect knowledge of all the op.
erations OF the exchequer board and it's
agencies, at any time and all times, by
congress and by the people, are provided.
The system is capable of any modiica-
tion 0: improvement which experience
may suggest; and il, after all, serious e.
yils should be felt or justly anticipated, mo
vested rights Of any corporation can be
interposed to prevent its instant repeal.
No human institution is, or can be, free
from liability to abuse; and the fair ques.
ton is, whether the advantages TO be
gained by furnishing a sound currency
to the country are SO important as to JUS
tify the employment of the powers given
by the constitution tn obtain thema The
ability Ofthe Government itself 10 &C.
compiish this great Obiec has never yet
been fully and fairly tried"
JOHN C. SPENCER.
Mr.. Spencer complains that one por.
tion of the public press Ithe iederaD is
employed in continual assaults upon the
President and many of the measures of
his administration, and the other (the
democratic) portion rendering equivocal
defence of soRe of those measures only,
and condemning others. We believe the
democratic press generally, and the DEM
ocratic members al Congress, have rem
dsred the new adm inisrration all the aid
they could consistently with their adhe-
renee to Ibe independent treasury sys-
TEN aud opposition to a United States
Bank, or any similar institution chartered
expressly "for the purpose of facilitating
commerce." We have seen no good
reason 10 abandon the Constitutional
treasury system, which is still substan-
til y adhered 10 by the democratic party
as the only constitutional mode OF ofcoIIect.
ing, safe,keepng and disbursiDg the pub
lie revenue.
Most of the arguments advanced BY
Mr.. Spencer against a United States
Bank, vii apply with equal force against
the EXchequer; while some Of bis argu-
ments in favor Of the exchequer may be
urged with equal force in support Of the
independent treasury system.