Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1845-12-25

~ .a', aa'e no Guaranty thai "
command the use Of its own -" u
public purposes. The late r ,Ae
U"''ed States proved TO be fa;,hl
Safe banks which were a(,s. sa
ployed, were fallhless. Bu, ssa'd',
ago. with millions of public NV ,sh
their keeping, the p,ye,s 'apas
Brought almost !" haasruprcv'saa.',
public credi, seriously impaired y
Of Their inability or ind,spo,;,, s' ~
." demand. y he public creditor.
only currency recognized by n.
tiun. F E f-F ~ ~ CON-
Their failure occurted j,
peace. and great inconyen,a,s pea
were suffered by the public i,s. 49, ~
The country been involved II - !
war, that inconvenience and l.. y
have been much greater. and mil.
resulted IN extreme public eal,'s4
public money should moi be m,.
the private funds of banks or iaS tsas
or he used for private purao.e. '' ~
IS placed in banks for safe kssa; "A
IN effect loaned TO them wi,bou,r MI
and II is loaned by them upon =.
the borrowers from them. n.
money Is converted into bank;,. "
and IS used and loaned on, 70, 4. y
profit Of bank Stockholders: y, ~ W.
called for Is vas the case i ~
may be N the pockets Of The bo,.'
from the banks, instead Of bs;n,e' e
public treasury contemplated b. 4
sll'ulion. The trainers Of The Cam
could never have intended ,ha,,L.
paid INTO The treasury should he lL'''
ver'ed To private use. and placed I.
the control OF government
Banks which hold the publ. :,
are often tempted, by desire Of :.
extend their loans. increase ,h,,, '. =
zion, and thus stimulate, il no, ma
spirit Of speculation aud exlr,,,.
which sooner or later mus, n,
ruin 70 thousands. II the pobEr
ey he not permitted TO be thus NJ.
be kept in the treasury and maid an,
public creditors in gold and sl,r
temptation afforded by its depo,ip
banks To an undue expansion Of n,
siness would be checked, while N. !,
of the constitutional currency lef 4
culallon. would be enlarged by !,
ployment in the public colleclioa
disbursements, and the banks ,hspv
would M consequence be found nj,
and snunder condition. 'lf
At present, State Banks are en-
as repositories, but without adeous
ula'lon Of law, whereby The pubr
ey can be secured agains, the cpu 4
and excesses, fevuIsions, suspenssa
detalcallons, 10 winch from over
overtradlng and inordlnate desire IN
or other causes, they are consl,na
posed. The Secretary of the Tnss
has III all cases. when II was prs,hr
taken collateral security Coz the u
which they hold. by The pledge d !.
OF the United States. or such Of thsS
as were IN good credit. Some 9th
posIie banks have given this desedpst
secnrliy.and others have dechnedn.s !
Entertaining lie opinion thai 1ihA
ara'lon Of the moneys Of the COVER
from banking institutions is indiqsti'
for the safety Of The funds Of the gs9'
ment and the rights of The peOFh M
commend 10 Congress thai pro'sais''
made by law lnr such separation; NJ
a constitutional treasury be crss
the safekeeping Of the public msa
The constitutional treasury recomas
Is designed as SECURE deposlloH n
pubic money, without any puFE
make loans or discounts. or 40 ia
paper whatever as a currency Of n
ton. | cannot dou5t that such slTtE
as was contemplated by the cmaf
should be independent of all bsuEF
poratlons. The money of de
should be kept in The treasury cftlEr
pie creaied by law, and he in ihf
Of agents of the people chosea
selves according 10 the forms ciR w
sututIon; agents who are direcarrT
slble 10 the government, who HsI
adequate bonds and oalhs, and ~
subject TO severe punishmenls y y
embeZzlement. private use, or mIsF
tion of the public funds. and fmn
ure in other respects to perfornk n
ties. To say that the people
government are incompetent, or ~ vi
trusted with the custody OF th
money, in their own treasury, p
ny themselves. bu, must RELY on
sIdenis, cashiers and Stockholders
ing corporations, not appointed
nor responsible 10 them. would
cede that they are incompeienl
government. .sta E
In recon nending the esisbl'as
a constitutional treasury, IN VIZ
public money shall be kept, Y,
adequate provision be made byl'
safety and that all executive dl'cn
control over i, be removed. exff
as nav be necessary in dnecIlla
bursemen, in pursuance Of, sPPfsf'
made by law. r. yloH ]
Under our present land systtn
the minimum price at which y
lands can be entered at one cp''
twenty-five cents per acre, lafe
ties of lands of inferior qualify -
sold, because they will not CONF,
price. From the records Of ~.
land office it appears thai, o !.
lands remaining unsold 10 , w II
States and Territories in wnle@ v
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