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


checked. wh,le che smcsnt Of the conslitu.
i'ooal currency len ia circulation would
10 enlarged By Il, employ neo, in tho pub.
I've collections ssd d,.bss~ n,cats, end the
lsDks themselves w"uid IN consequence "
found N . ssiss and sounslrr condition.
A. present, State hanks aIs employed
a. drpos,tsies, bait without adequate reg.
ula,ion Of law, Whereby The public money
eau DO secured against tho casualiiss aud
esccsses. tcvulsios., suspensions. and DO.
talco'ians IL which, from overissues, nscr-
usdns, M inosdina,e dcs,is for gain, OF
other ruuscs, they nre constantly sxposed.
The Secretary of tho Treasury has. IN VII
cases. when u WAS practicable, taken col.
lsleial security for tbs amolnt which they
hold. by tho pledge ii stocks Of the I'M.
Ted States, or such Of tho States ~ were
n good credit. Some Vt tho deposite
banks have given This security, a,d others
haze dccllLcd 10 do 10.
! Ehiriinn ing the opinion Tint "thc sep.
e,a'ion Of tbs Wonrys of the government
from banking institutions il indispensable
cor tho safety Of tie funds Of tho go, rrn.
n,ca, and tho rights VI The pc"ple," ] ~.
commend 10 Congress that provision bc
made by law ior such separation, aud lha.
a Constitutional treasury be created iur tho
safe keeping Of Tho pullic money. Tie
constitutional treasury rec ommrndcd 10 dc.
signed as u secure depository for the pub.
lie moiny, without any power 10 make
loans Of discounts, or 10 ,ssua any paper
whatever as cutrctcy or circulation. |
can,,o, doubt that such a treasury u~ was
contemplated BY The c'ns,,,usnn, should
10 iaicwnJcn, VI all banking corporations.
l'!m mn'wy "f the people should DO kept
in the treasury Of the people created by
law, aud bc in the custody Of agents ol the
PEOPLE chosen by Themselves, according 10
Tic forms Of the Constitution agents ~!,o
, are directly responsible tn The government,
WIN IRE under adequate bonds and naihs,
aud WHO arc subject TO severe puulshncnis
lar an, tnibcs2 s,aeht, private use, ar ms
application ii the pubic funds, and Tor any
failure IN r,hcr respects 10 perform Their
duties. I" say thai tho pc"plo ar lhei'
government arc Incompetent, Ur IN, u b.
, trusted with the custody II ,h,ii own money
{ ~ their "Wn treasury, provided by them
>'vrs. hut must rely an The presidents
| cashiers, aud stockholders u banking CO,
. l"rai,ons, ia, appointed hy them. nor re-
. .jan.ib,n Ia them, would be u cMccd,
c thai lhcy arc incompetent ior self govern
F, meet.
r In recommending the establishment, Of {
,nt 1.
lie money shall 10 kept, | desire that AIDE
!. 1ua,e provision 10 made by Law for it,
. safety. mud that all executive discretion o
j. control over il shall 10 removed, oxccp
b. such ~ nay DO necessary in directing IT
!. disbursement, 10 pursuance of arproptin
u 'ions mudo by law.
4 Under our PRESENT land system, li,nitin,
!. The minimum price u, ~h,cl. the publ,
- lands can he entered to OIL and - cent
q per ucrc, large quantities Of lands Of life
y rior gpali,y remain unsold. because the!
0 will mot command that price. From IN
!. records Of The General Lond Office il ap
;. pears. that, Of Tho public lands ,cn,aiuin,
|, nnsuld in the several Suites md TcrriIo
i, lies III which they are situated, 10, 1n5 81
q 1cUs have been IN the Ikct, subject 1
" entry mere Than 20 years; i0,G3-,it
II acIcs Tor more than - years $50; 4 co
acres for more that, / o ycnrs; and LOG
It 17G.g (l acrps for mare than s yeats. -
!. Much The largest por,iun Of these land. wi
!. continue 10 be unsn!rnhl. at the minimum
/, pnccs Of which they are permitted to !,
Q sold. 50 long ~ lnr.e ,crIi,ories Of land
g from which the mos: valuable portion
!. have moi hccn te!cc.oi are arRua!!y brougl
7, nth mnlkct Ivy ;he government. Wit
!. thr vicw to the sale aud settlement of ihcs
n inlrrior lnnds, ] recommend iha. the pric
O be- graduated mud reduced below tho pre-,
n cnt nnni,nnn rate, cnnlining the sales q
q tho reduced prizes III settlers and c,!tiyN
!. tors. in limited quantities. II graduate
and reduced In prize lnr ln.itrd term /
II one dollar pee aero, and after thu expiru
% lion Of thu, period for Cd and ~ icr'
V to lower ra'cs, n large portion Of Ihcsn land
i. would In. purchased and many worthy Cit
n pens. wllu arc unnhl, 10 pay higher rate,
u could pure husc home. fur themselves an
!. AMI their families. ny adopting tho pol
e cy Of graduation and reduction of pI,c,
4. these inferior lun,s will ha sold fnr ,hci
Ii tcnl value, wh;,a the States in which illr
!. lie viii bc freed from the Inconvenience.
\, mol injustice, 10 which, they are suijcc,e,
J. IN consequence Of the y. States conlinuin
h 10 own large quantities of public land
70 within their borders. nut Liable to taxatlu
D. for tho support Of their lucal governments
a "a -