The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1857-05-13

us. when the government cAtutts ttoui Vic
people pore money than IT has right to
lake, il is robbery and it will be difficult to
convince me that We ought not to accept
resttntion Of that Of whlrh we have been
robbed.
| In adopting this course violated no pror
vision Of the Constitution nor is It to be
inferred that invite the constant or even the
often recurring practice Of distributing money
Ia the States out OF the Federal Treasury.
Much less would | sanction the policy Of
raising more money than is needed for an
econo mical administration OF the government,
Tor the purpose Of distribution. A poor gov
eminent is apt to be yirtuous-va rich govern
ment is sure to be currupt. did not mean
to sanction and did not sanction the policy
of distribution. On the contrary, the meas.
ure for which voted is a counter measure to
distribution and presents the best possible
means for defeating it. Thousands advocate
distribution who would repud,ate the idea Of
raising, by tax ON the people. more money
than the government needs in order TO give i
u the States. They only desire to distribute
such excess Of revenue as accumulates IN the
Treasury from time to time, under the un-
tnreseen fluctuations of trade and business.
These persons are honest aud sincere, but
fall into the gross errnr of adopting bad
general principle to provide for case that
can rarely, very rarely occur, and which,
when it does occur, the good sense Of the
American people will always provide fur as
an isolated specific case outside of party
rules. All such would willingly accept the
deposit policy aud give up distribution.
Again The principle being established that
the only way in which these SURPRISES can
be disposed Of through partial. extrasagant,
corrupting and unconstitutional approprIa-
tons by Congress, thousands will embrace
distribution as choice Of evils. Many even
of those who think it unconstitutional, will
embrace il on the dangerous hypothesis that
one violation Of the Constitution IS less de-
plorable than many.
All those advocates of distribution who do
not wish to tax the people to raise fund for
distribution will be satisfied. because all their
objects are attained; whilst those who still
adhere to it will be exposed IN all their ma
ked delormity, as wishing. under cloak, to
tax the people enormously 10 raise more
money than the peoples immediate represent
tatives dare TO levy on them, for the use 81
the States. apprehendrd that few in this
State would avow the latter purpose, or II
they ayowed il could stand before the peo-
pie and think am JUSTIFIED in saying that
deposit will completely silence and defeat
distribution. My vote IS sanctioned not only
By prudence and sound policy. but by the
highest Democratic authority.
Ia 1886. a similar state of affairs existed.
Then, as now. there was a surplus 10 the
Treasury. Up to a then recent perind,
1855 the money belonging to the govern.
ment had been deposited in the United
States Bank. Gen. Jackson had ordered the
Is Removal of the Depn.lts" frum that in.ti
tuition, and caused them to be placed IN Ger
tain State Banks. The administration and
Congress not being at that time prepared 10
embrace the independent Treasury system.
an act was passed by Congress, in accor'lanc.
win a recommendation contained ~ Gen.
Jacks0n's first annual message, and signed
by Gen. Jackson on Esd June 1886, entitled
. I" an act 10 regulate the deposits Of the public
+ money" This act established. or rather
iegalize,l, what was known as the I" Pet Bank
system" which exploded with the suspen-
sion Of specie payments IN MAY OF the follow
ing year. The first twelve sections Of the
act provided for the deposit 81 the public
money in State Banks, 10 be selected BY the
Secretary Of the Treasury. on ;hcir coinply.
ing with prescribed conditions. The thir.
ternth section directed that the surplus, ex.
cepting FIVE millions 81 dollars, should be
deposited With the States. on their engaging
10 return il when called for By Congress. Il
was a deposit. simply. and Congress had the
+ same po~er 10 deposit part with the States
that il had 10 deposit par. in banks. The
States are lisble now 70 be called On 70 re.
turn Il; and they have MT been called on.
lonly because the unanimous sentiment Of the
country is, that such call would be opposed
to sound policy.
The deposit with North Carolina was
something less than a million and halt 81
dollars, aud now constitutes a large part Of
her school fund. have MT preceiyed that
she has been corrupted BY il. nor that she
has since bven any less watehiul than before
Of federal entertainments. Her public and
. private credit are unlnpairei, her people
prosperous. and her public authorities sigiiant
and Ineorruptible. ! see thi. very fund d,f-
lusing light throughout her borders, By edu.
eating a hundred and fifty thousand % her
children u the principles II religion. hnnDr
and freedom. teaching them reverence Tor
law aud order, aud submission u legitimate
authority.
The &C, Of 1886 originated in the Senate.
and igds introduced by Mr. Calhoun. Sen.
, ate Journal, page Co., As il was offered
. and passed that body the thirteenth section
was a. lollows;
! ".7ad be iJuritsr enacted. That the mo-
, ney which shall be in the Treasury of the
, United States on the first day Il January,
, 1887, resersing the sum Of h,e millions o.
/ dollars, shall be deposited with the several
States. 10 proportion % their respective repre-
2 sentati0n 10 the Senate AMI House II Repre-
4 seDia;ises u the Congress 81 the United
4 States; and the Secretary u the Treasury