The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-08-19
Evasion, Of the sub Treasury system.

Evasions OF the sub Treasury system.
The number and magnitude OF the frauds upon tn.
treasury which have been fully disclosed Of late are vel
calculated 10 excite apprehension 10 the efficiency
of the snbteasury system Of finance. The results OF
eight years OF experience had been satsacory that
this system had ceasd provoke party discussion and
structure. II acquesced in as the financial policy Of
the government. But the disclosures which have fol-
lowed change Of administration have opened anew tbs
merits Of the sub treasury. and The only reason why il
is the daily theme Of party animadveraion and
Remuneration is, that the fraudulent practices brought 10
light occurred under the regime Of tina. party which has
heretofore sgnazed It's opposition to the system Wings
are es,opped from assaing the sub-tteasary on the
ground of the populations because the gy agents
belong 10 their own party.
But il is not enough in vindcaton Of the system 10 say
that the frauds pracsed under il chargeabls to whg
account The sub treasury has been favorte measure
with the democracy In it's adoption and establishment
they contaminated their greatest political triumph they
made eeclual their triumph the United States Bank
II devovcs upon ua therefore, 10 scrutinze The provis-
ions OF the subreasusy law with care and 10 ascertain
whether the late frauds are attributable solcly to the
aihessness Of the agents appointed TO consrne and sx
cute IT, or whether there not inherent defects in the
tcable.
The examination which have given 10 the law has
satisfied our minds that willis, there msy be minor points
Of detail which could be improved by legislation. the grea,
cardinal principles Of the system nearly peIfec,
human wisdom make them. Nosystem Of finance can
ever be so framed as 10 work successfully under the ad
mnistra,ion OF ingenious dishonesy Penalties against
evasions and populations protect the pubic
III do linnr nj
agents. with sppe,ies for plumber keeny
whetted, than can locks and bars and bolts resist tie
ingenuity and skill OF the bank obber who is graduated
in the science Of picking locks and entering vaults This
remark will be fully comprehended and appreciated By
brief notice of some OF the shifts and devices BY which
the law has been evaded and The pabc revenue plum
deted Stronger and more comprehensive language
could not be used than that by which the COLLECTORS
and distusers and keepers ct the public money are
prohibited from using lending, or in any way spPro-
pratng the revenues objects other than those desg
mated by law The penalties provided against violations
of those stringent provisions sufficiently rigid and
plainly expressed deter honest agents from inessrns
any risks. Ia making the law j, was clearly foseseen
that the temptations evasve constructions and prsc
ces were too strong leave loophole fof inge.
NOUS dishonesty 10 escape. Al the same time IL was
manifest that the machinery OF the system would BE- i'm
practicable without degree Of discretion vested IN
the head Of the Treasury Department. Upon examna.
ton II will appear nj that degree OF discretion
was essential in the mode Of transferring the revenue
from one place Of derose to another for purposes Of
disbursement Much the largest portion OF the eose.
lions arc made al New York; but the money collected
mus, necessarily be distributed throughou, The country
for disbursement. The Congress could not, with any
propre,y, designate fixed rule for this distribution,
but some degree OF discretion unayoidably visited
in the Secretary OF The Treasury II has been It bis
pref point that OF the most Astonishing evssons
OF The law have occurred. Tho object in vssns die.
creon in the Secretary OF the Treasury coull not 10
mis- aken facilitate the operations OF the sys.
TEN 10 the transfer OF funds from point 10 another
for disbursement Bat ills apparent that an unconscien-
ous agent might easily avail himseli Of this discretion
10 gran, most advantageous accommodations and ps'v
eges 10 hisspecal favoriies One illustration will mi
6ce the Secretary foreses tina, he will need million
OF dollars ST. Lou another million at New Orieane
and another million at Little Rock three millionaire
in The sub-treasary al New York. and the la re,uies
him to have The transfers male in 10 meet The &C.
mands OF the public creditors The plain. honest con-
sructon Of his discretion informs hi that he can e-
galy and properly draw his order on ne sob-fsassnl
at New York for the three million, and sell s~s
drafts TO .nch capitalists as will give TIE trof6
guarantees to have the money the designated points
The proper time Taera,es OF exchange and the tuss-
ton of interest furnish Efficient inducements TO c'Pia
lists to buy such orders transfer dras 1t par bu'
s,ppose the Secretary has favorite flied Who can
make speculation upon the nss OF the ,hihonH %
have j, for some months in advanc, OF the TIME
for It's actual transfer and especially II he can have an
that the operation will be rcpeasl again and
agan. to make the million permanent OF contn'
ung depcss All This might be done under cover OF the
discretion given by the law, and the transactions on As
face to be in conformity with the law and yss, in
fact constituting fragrant abns, OF his dscsstoa and
papable violation OF the Sprt OF the sabtreasary sys
tenn. BY such sack. twisted construction II the law
the Secretary would have in his powss TO extend his
accommodations TO have the great bslk Of tbs
enue Family loaned ont in The hands OF ind sas
open breach Of the cardinal principle on whc, the sy
TEN rests None but uoconsc;entious agent could do
this il would not be the result OF The dsfscts The Law
in the sysem, bot il would b. arb l,able the want
OF ha, snbendng integrity which il essential to the
successlul administration OF the Treasury Departmsn'
That The Law has been evsled in the ndcs'~'
al lesss 10 some extent, IL no matter Of speculation