New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-12-03

Is the ju'. parv or greater cost The articles con
isapeI,i Fl, ars faxed at the same rate. system oil
sS,a revenue duties, with proper dlscri,iina'ions
Guards against frauds IN collecting theni II ls
edpiepr6 will afford ample incidental advantages to
rsdes.c.urers and enable them to derive ms great
t be derived from any Other regular business.
roaih.ievcd that such system, strIcoy within me
W. stsndard will place the manufacturing interests
frss.le footing and nure to their permanent ad'Si'-
Ssf%bile j; vii, nearly "a may he pracucao'c' eN
IN the crea, interests Of the country TIC incitchS
.aa.,;on which can be afforded by our revenue !aws
,v,,em when once firmly established "oUic DC
s,cnt and not be subject to the constant com
sIso,s snd changes which must ever occur, S'ilch
-1.s NO, laid for REVENGE but for the protection
,siv of favored interest
deiberations Of Congress on this subject II Is
~ ina, spirit OF mutual concession aud compromise
- conflicting Interests may prevail and That the
SUI; Of toeii iaooie N'"' W
o,Ss Constitution of the United States 1t IS provided
ano money shall be drawn from the treasury but u
..ouence OF appropriations made by law. puoh'
&c was undoubtedly contemplated and intenced i'
.s,,ated, In which the public money should be KEEP
- m. period of collection until needed Tor puohc use
,hs collection and disbursement OF the pubic money
= ,sencies have been employed by law eNcepI SUI %
ore appointed by the Government direc'! i''t'
v 10 IL and under It's control I'll :. con
The safe keeping of the public money shou'u 20
dad 10 public treasury created oy is"'iatu IN.
,oonsib.ity and control. II is nol 70 GO 10
81 he Constitution
.asury should be created as place oil depos''e at
l.%.nn, of the public money which was rrespohsi'
S -, =. the Government. The first Congress undct tuc
,;,rtion BY the act of the second september. 49,
~ establish the Treasury Department. pro'iocu .o
wo;nrnent of treasurer, and made II MS duty 70
n s and Keep the moneys of the United STATES anu
w III times to submit 10 the Secretary oil the treasury
Sc Comutrollcr or either of thcU the inspection oil
,bs moneys IN his nanus. -, -, :.
% he used as substitute for the treasury spoken
,be constitution, keepers .: the puohc money s
,t from, The fact that al that time thcre was no ma
- hsnk and but three or four state banks OF neo
'.. .i cyis,ed in the country. Their employment as
;,o-es was al frs, resorted TO. limited extent
~ ;,b mo ayowed intention OF continuing them per
.,v in place OF the treasury OF the constitution =
- ,hev were afterwards from time 10 time employed.
70, from motives of supposed convenience
I'm, sxDe-ience has shown, that when banking cor
lions have been The keepers of the public money,
thereby made in effect the treasury the govern
n, can have no guaranty that II can command INC use
4 M own money Tor pubic purposes Inc Iate hahA
ia limited States proved TO be fathess. lac state
80 which were afterwards employed. were faithless.
~. few years spo with millions Of public money in
Ss- keeping the Government was brought almost 10
s.,truutcy and the public credit seriously impaired
rss nj their inability or indspOsi!ion 10 pay ON de.
~S N The public creditors in the only currency re
issd BIZ the Constitution. Their failure occurred IN
erod OF peace and great Inconvenience and loss were
pered BY The public from IL Had the country been IN
rcd in foreign war, that inconvenience and loss would
nave been much greater had IsH' nave fesu'co III eA
RENE public calamity.
The public money should not be mingled with tue pri'
ve funds of banks individuals or be ussd Tor phi
yse purposes When Is placed Ia banks for safe keep
10, ia in effect loaned to them without interest ana is
i,s6 bv them upon in;eres: 10 the borrowers from
.b,,n The public money is COnyerted lGt0 BANKING cap
M and is used and loaned out for the private proht OF
hank stockholders and when called 'or las was the
1897 il may be in the pockets OF the BORROWERS
s iat,, I,Nt hn
contemplated by the constitution. The trainers Oh Tue
constitution could have Intended tha' t;e money
n into the treasury should be thus converted to pf
yae USE and placed beyond the control oil tue govern
meat .,
Banks which hold the public money are often tempted
br desire of gain 10 extend their loans increase their
circulation ard thus stimulate Il not produce spirit oi
speculation and extravaganza, which sooner OF IHteF
5r.t result in ruin to thousands II the public money
no mt nermued 10 be thus used but be Kept IL the
sury and paid out TO The public creditors in gold and
silver the temptation afforded by It's depose WIN DAMS
m undue expansion OF their business would oe creek
"a while the amount OF the constitutional currency iet
N rcuation would be enlarged by It's employment in
me uubc collections and disbursements ana tue oanKs
themselves would in consequence be iouhd IN SAFER
and sounder condition.
Auresent State banks employed as repositories,
Int without adequate regulation OF law, whereby the
pubic money can be secured against the casualties ana
ersesses revuson5 suspensions, ana deihea'ions 10
which from overissues overraGng, an inotdinaie desire
for gain or other causes, they are constantly
The Secretary Of the treasury has in all cases we II
Wa, practicable taken collateral security for the amount
which they hold by the pledge of stocks OF tue United
ss,ss or such Of the States were IN socu credit
Some Of the deposite banks have given this description
ufeculty and others have declined 10 do SO.
Entertaining the opinion that 1.-THE separation OF inc
moneys O; the Government from banking institutions Is
Indispensable for the safety Of the funds OF the Govern
man and the rights OF the people recommend 10 Coh'
es that provision be made by law Tor such separsto on
II ~, t;,,to q
ne keeping of the public money. The Constitutional
Treasury recommended is designed SIS secure deposi-
tory FOR the public money. without any power 10 make
loans or discounts TO issue any paper whatever as
currency or circulation cannot doubt that sucn II
Treasury es was contemplated by the Constitution,
should be independent of all banking corporations
TIE money Ut the people should DC kept in the ueasu
II othe people created 10y law and be IN the CUSTODY OF
.ent Of the people chosen by themselves Gccorong 10
he oras OF the constitutions agents who IRE directy
re,pOr,ble 10 the government who Under adequate
ecs and oa,hs and who subject 10 severe punish
u,,, for spy enbezzlement, private use, or nsapphca
tnche public funds aud tor any failure In other re-
r,eu TO perform their duties To say that the peope
geeh government incompetent or not TO oe trust
Nvnh the custody OF their own money. IN their own
t,,uy provided by themselves, but must rely on tue
PRESIDENTS cashiers and stockholders OF banking corpo-
n1n, rot appointed by them responsible to them,
ai be to concede that they are incompetent Tor sell
lrtrnnent
RECOMMENDING the establishment of constitutional
salry in which the public money sdail be kept ue-
Su ADEQUATE provision be made by law tor It's sa'e-
Jnd;hat all executive discretion or control over IL
Ill be removed except such may be necessary IN
Greeting its disbursement in pursuance OF appropf'a-
lsinaie By law.
rater our present land system, limiting the minimum
pesa. which the public lands can be entered 10 one
c md twenty-five cents per acre large quantities OF
stI Of inferior quality remain unsoid, because they
rAaG command that price. From the records OF 'he
ee'.t Land Office il appears that oil the puoIc lanos
t-ng unsold the several States and Territories IN
'sssAey are situated thir;y-nne millions one hundred
isre thousand FIVE hundred and seventy.seven acres
aafs been 10 the market, subject 10 entry more IMAM
Hcgyears iorty.aine millions six hundred and tnH'
Heiti thousand six hundred and fortyfour acres Tor
1Ssiasn ht,een years seyenty,hree millions seventy
VlGoassnd and six hundred acres for more than ten
!sshi and hundred and six millions one hundred
ha isvsutysix thousand nine hundred and sixty zone
Ses 10, more than five years Much the largest por
Tae these lands will continue TO be unsaleaole at the
.'Saum price a, which they are permitted to be sold
sVas large territories Of lands from winch the more
,Naaoe portions have not been selected are annually
into market by the government.
mn the view 10 the sale and settlement OF these III
va" ands, recommend that the price he graduated
-, 'eaaced below the present minimum rate coniininS
&a the reduced prices 10 settlers and cultivators,
sa1a'ed Quantities. II graduated and reduced IN price
sAH'ed Term TO one dollar per acre. and alter the
Y1anon Of that period for a second and third term
rates large portion of these lands would be
tsStsec and many worthy citizens. who unable TO
~ Ssner rates, could purchase homes for themselves
~ ae families By adopting the policy of graduation
stsucaon o. price, these interior lands Wi! be sold
eA Ies value, while the States IN which they lie
vIr 'eeo IRON the Inconvenience, II not injustice, 10
So, et are subjected, in consequence OF the United
49, continuing 10 own large quantities of public lands
,u ueH BORDERS not liable TO taxation for the sup