The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-08-05
THE PUBLIC pEposIrEs.

THE PUBLIC DEPoSITEs.
Upon this important subject, to which we called
the attention Of our readers, the Cincinnati En-
qairer has the following remarks:
This subject is at length attracting that
attention which its high importance demands.
We have examined the act of June, 1874,
WIZ eh is referred to in the extract from the
Union, and find the clause which is embar-
rassing to the Secretary of the Treasury, is
as follows:
SEC. S. And be it further enacted, That the
Secretary of the Treasury cause to be pub
lished in some newspaper of the city of Was
hington, on the first day of each month, the
last preceding weekly statement of the
Treasurer Of the United States, showing the
amount Of his credit in the different banks,
in the mint, or other repositories, the amount
for which drafts have been given, and those
remaining unpaid, and the balance remaining
subject TO his draft; and that he also specially
note any changes that have been made in
the repositories of the Treasury during the
preceding month, and report to Congress at
the commencement of its next session, the
reasons for such changes. And that no
changes be made except for noncompliance
with the instructions of the Department or
the failure to furnish sufficient security.
This singular law, the Mississippian"
remarks, is palpable concession to the pow
er of the banks, and we marvel that such a
concession should have ever been made by a
democratic Congress. But we think Mr.
WALKER has abundant evidence that the
public funds are not safe in the banks. The
fact that they are used in extending the
loans Of the corporations, and in stock spe-
culations, are sufficient; and even in the
absence of this evidence, the well known
tendency of such concerns, would justify him
in taking the responsibility of removing the
deposits. Now is the time for M. WALKER
to act bold part, and secure for himself the
undivided confidence of the true democratic
party. A temporizing policy is fraught with
danger to himself and the country. Now is
the time for him to assume just responsible
iity in arresting the policy which the unfor-
tunate administration of the yet more unfor-
tunate Tyler, was again fastening with fatal
grasp upon the vitals of public morality and
prosperity.
The growing power of the banks is much
to be feared. This is displayed in the shame
less concession to them in the statute which
we have quoted; it is further manifested in
the long continued silence of many of the
democratic presses, in regard to the policy
of employing them as government agents,
and in the shameless apology for their en-
ployment by other profcssedly democratic
journals. Why is the Union silent SO long?
Could not Mr.. Richie leave out occasionally
from his popular and able journal, Mrs.
Caudle's curtain lectures, now become hack
MED, and enlighten the public mind upon
the subject of the currency? We think the
chosen organ of the government would per-
form acceptable service TO the democratic
party by adopting such course.
We repeat, now is the time for Mr.. WAL
KER to act The banks are spreading their
nets, and if bold policy is not adopted by
the administration, the next Congress will
not have the nerve to re-adopt the lndepen-
dent Treasury system. Many a time-serving
democrat will be bought up. 1t will not be
the first time that money has controlled the
action of Congress, and we are satisfied all
is not as it ought to be.