The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-03-10

ALBANY, Msrch u, 1901,
Superintendent Of the Bonk,ng DeP0 tment.
When the General Banking law went INTO opera
ton, some ten or twelve years ago, il was made the
duty OF The Comptroller of the State to superintend
its operations Not only was he required to attend
70 the snizstion Of the free banks and the ssi.
'ng OF bills TO them, but he was enjoined also by
the law to take under his charge all the so.called
safety fund banks, which had previously been un-
der the supervision Of the Bank Commissioners
When this additional duty was thrown upon the
Comptroller, 1t was remarked by many who antci-
pa.ed what has occurred, that IL was burthen with
which that officer should not have imposed on him
These responsibilities having increased to such an
extent, in the multiplication Of hanks under the pre-
sent system, that the Comptroller has been com
peIledSs ask deliverance from them. According.
ly, aS has been submitted in the House OF Assem-
bly, by Mr.. Underwood, from Cayuga, creating
an officer 10 be Designated the Superinten-
dent of the Banking Department. The bill
provides for dsconnecting the efilIrs Of the banks
entirely nom the Comptroller office, and creating,
as they say in Congress, another, 4" because of the
government" All parties acknowledge the neces-
sIty Of this arrangement, and that VI should be
separate and distinct from the Comptroer's ciIice,
and made independent OF all others, and placed in
position o: equsl Importance with any her Of the
State Offices To this opinion all have arrived; but
the bill purposely contains strong political
features, IL cannot he adopted into a law, unless
forced through by political vote, which will ren.
der II obnoxious to one half OF the people. The
feature to which aliude is the section which pro-
vides tnat the Superintendent shall be chosen and
appointed by the Governor and Senate. This pro-
ject is certainly retrograde movement. Every
other state OiCeT Is chosen By the people, and why
ths important officer should BE- SIM yled out, TO b.
propelled by political engine, - somcw What surprs.
imp, when the fact IS taken into consideration that
the present. Iarty in power generally concede 10 the
people the right to elect all the pubic officers
which Il Is practicable 10 do.
Irrespective Of its political bearing, there is
another reason why ihe power OF appointmen MT
shorld rot be conhded in the hands Of a single in.
dividual, or In majority OF seventeen Senator's
Under the banking law, the Superintendent must
be extremely guarded in his dealings with the
hordes of men who are deily forming associations
under the law. Certain stocks are 10 be deposited
in the department Hs security for circulating
pster; all the plates are therein deposited and bills
engraved under the direction o the Superintendent.
Aud from what hes heretofore happened, IL may be
readily inferred similar tran ansactlons may again
occur. II vs. well enough known that under the old
system Of appointments, influences brought 70
bear which could not be resisted, which operated
on the appointing power 10 the nantes! detrimsLt
of The public service And IL may he so again; /.
viii be easy matter for combination of bankers,
especially of the leading ones .of the State, 50 TO
| ELECT and secure the appointmen OF man whom
they dcste, without creating among the peole the
lcSft suspicion that fayorie of theirs had been
| chosen.
The object is laudabe one, and II he liw
shall be framed as 10 diycst IL OF much poliu
cal bios a. possible, IL will prove salutary one.
| Rut 10 orcsr 10 make u accertible, the supertu'
| Il r,fOdeat should be chosea by ths Whole pe0tls
| a. ihs rPxt November eleC lion. o. h8 uen9 NJ
4 placed % the same ticket with ths Usass Sa;.
Cth,tgs, tRsato bc gaosen, - TIA. tts peJp \.