The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1845-12-19

The ssu,s pc,iwi ~sss e20, vUs, 2OS ",
Of whirh es,6ss l57 0a were spplisd 10
the "a, meat oi tho patiie debt. Tbs bs.
lance W the Treasury on the frs, Of July
las,. vas u .6ss, 500 20.
Tho sinouM II tho pablo debt scsnain.
iog unpaid oa the La of October lust, VAS /
el7.073,tia 81. Further paymeass IL
tho pubic debt would have Lcei, made, 10
ans,ci paiion II the peI,ud VI lis reimburse. |
ucn under tbs authority conferred u,sa
the Secretary II the Treasury by the act,
Of July sls. isil. and Of Ap,,l lah. lsla,
and March 81, l>i3, had not the Unsettled
state oI tor relations With Mexico ,neunc.
ed hostile collision with that Power. In
flew q, such contingency, i, was deem.
ed prudent 10 retain IN tho Treasury an q
mount unusually large tur ordinary FUR.
iSses.
a Tow years ago oir whale national a 1t
growing cut ii the iteyolut,on md tho v nr
Of lsi2 with q. Britain was cxi,ncui.heJ
and NC prcSeated 10 the world the rare aud
nobln spectacle Of . great aud growing
people Who had fully d,sclnrg' / EVERY Oh.
legation. S0ce ,ha, time tie cxiAi,ng debt
hss been contracted; ard small m /, is, il
{ comparison With tho similar burdens Of
in"fi other nnions. il should DO cx,ingui,h.
ed nj tho earliest practicable period
Should the state Of the country permit, an,l,
especially. IL our foreign relations utter.
< posc 40 Lbs,ac'c. il is contemplated TO ap.
ply Nil tho nWne,s ~ tho Treasury, as they
accrue. beyond Whit ia required fnr Tie np.
preparations hy Congress, tn It's liquidation.
! cherish Tho hope Vi aeon Icing nh!e h
congratulate the country on its rcc".erin.
once moro tho lofty position which il so
recently occupied. Oar country, which
exhibits tu the world the benefits of sell.
government, in Developing ulI the rcsour
ccs ii national prosperity, owes to man.
! kind the permanent example of a ra,inu
fee from the blishiins influence Of pub
lie debt.
!. Hers follows his remarks relative Il
!, a reduction Of tho Tariff. which were in
serted las. week.
!. Ny tho Constitution Of The L. Stn,es il
o - provided lho, "no nunc. sha! H. ,!laal
!. ZION, tho Treasury but IN consequence u
J. appropriation, made BY law" A public
Q Treasury WAS undoubedly contemplate,
y and intended /" DC created, IN wl.,.h III,
I public moneys should be kept, FROM the re
J. rind Of collection uul'l needed for putIl'
Il uscs. In the collection und di.bnrsemc
i Of the public money M agencies have eve
:. been employed by law, except such N
Il we're appointed by tho Government, dl
J. rcc.ly responsible 10 il, ard under its con
8 troll. TIN saic'kecpre Of the public nu
I. ney should be coutidcd 10 public i'rca.u
J. ~ created by law, and under like tcspun
n sihii,y aud control. II IL not 10 be ina
. g,ncd that tho lramcrs cf the Constitution
}, could have incndcd that u Treasury shout,
II ho created as place Of tcposi,c aud safe
: keeping Of tho public money which ~a
,. irresponsible to the Government. Til
&c first Congress under the Constitution, b.
81 tho net Of the "a September, 1850. -
II establish the Treasury Department" pre-
10 yided for the appointment Of a Treasured
~ and made it his duty "in receive and kcc
J. the moneys Of tho e. Sts.cs," and "al n
10 ,lMrs 10 submit 10 tho Secretary Of III
5. Treasury and Ito Comptroller, " ei,hr
,. Of them, the inspection Of The moneys i
10 his hands,"
9. That hanks, National or State. could no
T. hnvo been intended 10 he used as IL suh.t
:. iu:c for tho Treasury srnl.cn of ~ tao Cor
4. s,i,u,ion as .rcpers 1t the public meme,
J. 10 NANTES, iron the fac, that al that lin,
there was no National Bank, and tGl .Iirc
ia or four State banks Of limited capital eAis
IN ted in The country. Their t.nploymen' .
N repositories was a; first rcsaricd to /" Il
- Iniied cAtent, but with 40 nvowed in,e,tic
,. Of continuing them permanently in tlac
o Of the Treasury ri the Constitution. VIE
|. they were afterwards from time 10 tin
"a employed, i, was from motives VI suppo,
!. Cd convenience.
!. Our expefcncc ms shown lha, ahe
i. banking Computations have been the kccI
). crs of the public money, mud been tlc,eb
c made in ciltc, the Treasury, the Cover
&c mcut cnn hsvc m gua antcc that il ca
u command the use III its own money 81
.. public purposes. The late Bank Of tho |
IL States proved To 10 (ailhIcss. Tho Sta,
~ banks, which wcrr afterwards cmployc'
b. were laithlcsv. I'ut few ycnrs ng", vi,
millions Of the public money in their keel
/. ius, tho Government was brought almo
c. to bankruptcy, and tho public credit ser
10 Cusly impsircd, hecausc af their inablii
d. ~ iGd,spos,lon 10 pny On demand 10 III
Is pubic creditors IN tho only currency II
n. coguiscJ by tho Constitution. Their lu
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