Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1845-12-24

F
TIE pabisc macy whicA IS lrresps,ssaals
- the gpsesnn~as. TIE 49, Caagre-s ~.
Der the coossit.stioa. ~ sAe ari e tke -
cad Sepeenser. I7>9. 80 sstlAlssA -
Treasury Departuent@ Prexs6ed So ~
appOinirnent Of frsa<srer nd usa4e q
hi- d0ts 40 receive All keep the zseaess
o. the Uarei States.w sa5 -al a. nznes -
submit - ne Secretary 81 ne TIE say
and iae CemPtFulses. or riseer 81 theu. t.s
inSpecsian Of ne asaaeNs n ~ haa.s>~S
That banks. natf.snal ~ state. esel1 ~
have teen insrnded - - ased A. s,sss,iflse
Tor the trsa Sssry - kra q n she caestsss-
non as keepers 4 TIE Pubsl- saensy, =
manifest frogn TIE faef.t1at a. thas Inc saere
was no nalioual bank. and t1t th-ee o. fsar
State banks Of lirniied ca7iE1l sxssS>a II
the country. Their esnP,ox=zeal A. de2s-
silagies was Al srst Fe~oFsed -. O. lsmit-
ed exsenl, bat ~ita ne avoSe1 lasca<san
of continuing saea Permaaentis - e'ace
Sl the treasury Il the caassllzaaa- WAsa
Ihey we're aiter~ardS froEa time - tlns
empoyed. IL wss fron z,esves g Supposed
convenience.
Oar experience has saosn hat whea
banking corporarssnas hare beea ~ keeR-
ers e me pasisc noaey. asf hseea taersly
made IN efecf TIE treaslyx, tae gossrn-
ment can have no gaaraa1v tAat csn
cummsnd The use 60 Is "a sney tor pahl,c
purposes The late hsnk e re talsee
States proved = - fsnhlrss. The safe
banks Whsch we're afteF~arsis eEnp1ss e.
we're huhleSs- BIZ te~ wears sso.
with msilinas Of Pab,le no.ey r. thsir
keeping, the government Uas hrsagaf A.
INST - bankruptcy, ansi the Pcesac crecll
seriously impaired because &C her Ia2ell
ny or indispaSIsian % pay. "a deznan3 -
the pab.lc Creditors. In ne cav eu-rency
recognise by the coussitaraon-
Their failure occurred IN a persod e
peace and great inroaseaience ae& lsss
were suffered ~ me Publse farlt. Hal tie
couatry been N taFelgu war. that g.-sa-
venieace am loss Woz d ave hesa n.1-k
greater ard aighi have rrsslted n 81.
ireme Pubhc Calamity. The p-aosic r,aney
Shoald not be mingled ~5tA he -riv..e
F funds IT banks or ln3isi sal ~ bs uSe5 Sc
. private purposes Naes q = paced IN
banks kor safe keePing, i, = IN seers losa-
ed 10 them withost Interest. and = i,1asd
I BY them gpoH Interest 70 the bsrro9erS
from them The Pab,ie mooey = eoaxers-
/ ed into banking eapiiai. aai use6 an3 tsan
ed cat for the pFivs1e 8Toit e bsink sex.
holders; and Shen called Tor. (aS - he
case N ISL il nav be IN tAe pockets q
the borrowers from the basks. lnssea3 a
being IN the pub'ir treasuy. The coasa-
tuition could never have insea3ei that tke
money paid iato the treaSlry shs1ld be
thus converted 10 private &c. auS paced
beyund the control OF TIE soxe-umeat.
/ Banks which hid tie pabts- ~ saey are
often tempted. y desire Of gaia. - ex.
tend their loans. increase their circuiaus,s.
and thus stiInsiate. n NJ prs8acs. q spirs'
OF speculatiss-f aRd exfrasazanee. Nhs-k
must sooner ~ later resllt N tas rasa 9.
thousands. II the paalse moasv be n,
pes mis,esi 10 &c thus sas-d. bgl - ksss n
the treasury and psi3 oai t. he sablsc
creditors - goid and SILVER tAe tesa8asisa
afforded bv IS dcp.a~5se with Banks = an
undue expanSloe cf their bsrs5n--ss us.stl
be checked. while the su,ouni u ~ Goa.
siisutiOnal currency lea N e5rc-ilataor
would he enlarged; by its employ ui-as -
the pubic COLLECTIONS and siSb1rsenear
the banks themselves would. In eaase
quence, be found IN \ sales an3 sa1ads
condition.
AT present, State hanks are enoicxe.
as repositories, bat uiihoat a3eqaaae ses
ulaiiOn Of Law, whereby the poblie uaoae,
can be secured against the cas,sailtieS an.
excuses, FevHls5ons- slsPensloas, and Dc
Ifllrauons. 20 whi-h. from oser issae-
overtrading, an inOrdsnaie desire 6or gar
or other causes. these are canstantlS en-
posed The Secretary Of TIE Treasar-
has IN all cases, when Il = practzcaalc
taken collateral security for tie ansa.
which they hold. by the pledge Of ssock
of the United States o. such az tie Safe
as we're IN god creest. Souae a. me 5epa
site baaks have gwen Ihis 6es-ripsian .
security. and olhsrs havs de-iined d IA ~
Entertaining the oPlnira thai ne --s~pa
ration OF m news o. the guvsrnncat froc
banking institutions = iniiSpenslA'e 60 n.
: safety OF the funds q The govesnusa
and the rights o the PeoPle.S rscou
mend to Congress that Provisions BE ussa
ov a~ for such seParatioo. aR3 that
constitutional treasury be created tor u
safe keeling Of the pulls mnaey. II
, constitutional treasury Recommended = 4.
= signed as a seeure depository Sc he %
: nc money wiihsut any po9er - uak
loans ar discounts. or 70 lSsse anx paps
whatever as a currency or eir-u'atsoa-
: d'aobt noi thai such a treasury a. 9as C..
'emPlaied BY The constitutes. sho1ld /
Independsnto Of 81 blinking cSrporasion
The money IT the p-ePie shsaa I
: kePi IN the treasury e The people ereal.