H. OF R.] The Public Deposites. [MAY 16, 1834. That the Treasury Department has always been con- that he should make the United States subscriptions; the sidered, treated, and denominated as one of the Execu- fourteenth rule, that, with his approbation, the bank might tive departments, and the incumbent in it subject to the employ other banks, in place of its own branches, for supervision, control, and direction of the President, in doing certain acts of business; and the fifteenth, that the the great leading principles of managing and conducting affairs of the bank were to be laid before him in weekly its concerns, just as the heads of the other Executive de- reports: all the provisions plainly regarding this officer as partments, is proved by the whole current of communi- the regular organ of the Executive for the performance cations of the successive Secretaries of that Department, of such and similar duties, made necessary on the incorfrom the commencement of the Government, and is abun-poration of an institution for the exclusive purpose of dantly manifest to any one who will take the trouble of aiding the Government in its financial administration. perusing them. William H. Crawford, Secretary of the "But not one of these clauses takes away the controlTreasury, in his letter of February 24, 1823, directed to ling power of the President. If it did, the second arti the chairman of a committee of the House of Represent- cle of the constitution might as well be repealed; more atives, assigning his reasons why he did not even report especially as it also declares that the President, not any his reasons to Congress for removing certain deposites other officer, is to see that the laws are faithfully exefrom the Bank of the United States to State banks, ex-cuted. Could Congress create a general, with power inpressly speaks of it as the Executive department of dependent of the President, in the face of the clause course, and says: "The arrangements proposed were that makes him commander-in-chief by sea and land? Ev maturely considered, and adopted with the approbation ery voice will say no. I hold it to be equally clear that of the President," &c. Many other communications Congress cannot, in any case, charge an officer in the might be referred to, all bearing concurrent testimony on civil service, appointed by the President, with any executheir face. And what, I ask, is the common understand-tive duty to be performed independent of his controlling ing of the community on the election of a new President? authority. If his military and naval supremacy, as seIs it not that he shall select his cabinet officers, includ- cured by the constitution, would be a bar in the one case, ing the Secretary of the Treasury, from those who con- the investment of the Executive power in him alone cur with him in great measures of administration gene- would as certainly form one in the other. His control over rally? And has it ever been understood that that Depart- every public officer is the resulting principle that perment formed any exception? Is not the President looked vades every part of the public administration. It meets to by the people as the single responsible head for the us at every step, in foreign service, in the home service, purity, ability, and integrity of the administration in all in peace and war, under all conjunctures. The only offithose Departments, including that with the others? Most cers of his appointment who can, by any possibility, be unquestionably he is. It has never before been doubted. above his control, are the judges. There would be ne The intelligent letter of Richard Rush to Messrs. Jackson ther harmony nor efficacy in our system, but for this sinand Robinson, of the 22d of November last, under the gleness in the Executive. It has, therefore, been placed circumstances under which it was written, I think is enti- on a basis too clear to be misunderstood, and too firm to tled to great weight. This whole nation is well acquainted be overset. That the judges are independent of him, is with the opportunities which that eminent man has en- because they are not of the Executive branch, but one that joyed as a diplomatist and financier. He was well known is co-ordinate, and because the tenure of their offices is not as a friend to the bank, and a firm and sincere believer in his hands. The absence of these two ingredients nein its usefulness. He belonged to the anti-masonic party, cessarily throws back every other officer in a position of most of whom, in Pennsylvania at least, were opposed to inferiority to the President. There are duties that savor the measures generally of the present administration; and of the judicial, devolved by Congress on the Secretary Mr. Rush had always been understood as being generally of the Treasury. The chief may be found in the act of opposed to it; was placed on the ticket as an elector for March, 1797, for remitting revenue forfeitures, and in the opposing candidate to the present Chief Magistrate; that of June, 1798, for discharging insolvent debtors; and, for aught that appears, is still politically opposed but as they are not judicial in the sense of co-ordinate auto him, and opposed to his measures, excepting this with thority, I should hold it to be incontrovertible that the regard to the bank; and was replying to gentlemen of his right of Executive supervision, in cases appearing to reown party, who had indicated their opposition to the meas- quire it for ends of publie or individual justice, is not ure; yet he had too much honesty to suffer his feelings taken away; and this although the President's name is to be carried away by such considerations, and expresses not to be found in either of the acts. There is no other his opinions just as he entertained them through all his way of reconciling the second article of the constitution enlightened experience. As that letter is quite full on with the provisions of these and numerous other laws most of the grounds taken on this subject, I cannot for- regulating the details of administration that lie scattered bear presenting a small portion of it as applying very for- over the face of the statute-book. I cannot, therefore, cibly to those charges of usurpation committed in the doubt the President's right to remove the deposites or dismissal of the Secretary of the Treasury. He says: order their removal, however the Secretary of the Treas "The idea of a President committing an act of usurpa-ury may have conscientiously held a different opinion. tion on a Secretary of the Treasury, has something new His paper submitted to the cabinet on the 18th of Sepin it, when I come to open the constitution. That instru-tember settles, by at least one authentic precedent, this ment establishes three co-ordinate branches of Govern- as the rightful construction of the constitution. It has ment, the Legislative, Executive, and Judiciary. The taken the true stand upon its elements, saving it from powers of the first it gives to Congress, of the second to heresies, under which, if they prevailed, it would sosa the President, and of the third to the courts. Whence perish in some of its best parts. The paper should, in the Secretaries of the Executive departments, of which this respect, be especially hailed by those who would dethe Treasury is one, derive any independent executive sire to seek the true meaning of the Executive power, power, I am unable to perceive. The sixteenth section of by turning to the original principles and permanent ends the bank act does, it is true, designate him as the officer of the instrument. All such may with safety join the ilfor the duty mentioned; so does the second section say that lustrious Madison in saying, that if any power be in its the subscriptions to the bank, when first made, are to be nature executive, it is that of appointing, overseeing, and returned to him; and the fifth, that none of the funded controlling those who execute the laws."" debt subscribed as stock should be sold by the bank for coin or bullion, without previous notice to him; the sixth, In Pennsylvania, the Treasury Department is placed out of the control of the Chief Magistrate altogether, MAY 16, 1834.] The Public Deposites. [H. OF R. but even in this we find evidence in favor of the conclu- which all political and legal writers have used that term, sions which I have deduced from an examination of our and in which it is universally understood wherever it has constitution and laws, instead of against it. Some of the been used. He is not vested with one whit more power same men who framed the constitution of the United in relation to the sword, or military subjects, than other States were delegates in the State convention of Penn- subjects upon which Congress are authorized by the sylvania, which framed the constitution about two years af- constitution to legislate. What is the money power, or terwards. A provision was inserted in that constitution power of the purse, which he has been denounced as for the annual election of a State treasurer, by the Le- endeavoring and struggling to unite in his own hands gislature; and also for the appointment of a secretary of with the political power, and the power of the sword? state, by the governor, to hold his commission during It is understood, as universally as the other, to be the the governor's continuance in office, if he should so long power of taxation and appropriation of money, and is behave himself well: thus evidently manifesting that the so used by all political writers who speak of it. I at framers of the Pennsylvania constitution viewed those once admit this is not vested in the President, nor has departments as in themselves executive, and embraced it ever been exercised or claimed. This division of in the general executive power vested in the governor; powers by subjects is unwarranted and unauthorized by and in order to make them exceptions from his super- the constitution--is an utter stranger to it, and would vision and control, it was necessary to do so in the con- lead to interminable conflict and confusion, if attemptstitution; and, if not, it could not form the subject of fu- ed to be brought into practical operation, and destroy ture legislation. the harmony and beauty which is clearly discernible We have had here some new divisions of powers, not throughout all the parts of that well-digested and hapwarranted by the constitution or usage of the country. pily framed instrument. The question is, not what subPowers are conceded to the President which, I humbly ject of action, sword or purse, or any thing else, beconceive, were never conferred by the constitution, and longs to or is vested in the Congress, and what in the others which are clearly conferred are taken away, it President; but what is the nature or character of the would seem, for the purpose of bringing the present act to be done in relation to that subject, be it what Chief Magistrate within the grave charge of usurpation. it may. Is it legislative or executive? If it be the forThe honorable and venerable gentleman from Rhode mer, whether it relates to the army or navy, the money, Island, [Mr. BURGES,] at page 3, part 2d, of his remarks revenue, lands, or whatever else, the property or inon this subject, speaks of the "effort made by the Chief terest of the United States, it clearly belongs to ConMagistrate of the United States to bring into his own gress. If it be the latter, no matter what the subject control the money power of the nation, and thereby to be, it as clearly belongs to the President. The honorunite, in his own hands, this overwhelming power with able gentleman from Rhode Island [Mr. BURGES] has the political power vested in him by the constitution." laid much stress upon the difference in the phraseology What political power, I pray, is vested in him by the of the first and second articles of the constitution; the constitution, separate from his power and duty to see first conferring "all legislative power" on the Congress, that the laws are faithfully executed?" By what article, and the second "the executive power" on the PresiAs I understand him, "all legislative power section, clause, sentence, or syllable of the constitution, dent. is the political power of this Government vested in the herein granted" means the legislative power, and, in President? To me, this division of power is perfectly addition to it, an undefined, undesignated part of the unintelligible. It has no foundation in the constitution, executive and judiciary powers of the Government, any law, or the most remote inference that can be drawn (because the judiciary power is conferred by the defrom either. Sir, the political power, as I understand finite article the, as well as the executive,) and that that term, is reserved to the people, and has never been the executive power does not mean all the executive surrendered by them to any branch of their public ser- power, but only a part of it; including that part of the vants, and was not necessary to be surrendered. It has legislative power which relates to the army and navy-never been claimed by any President, and I trust it will the power of the sword, which he is willing to connever be yielded to any. Again, at page 9, he says: cede to the President entire, provided he can comproThe Executive power, the power of the sword, is all mise it by convicting him of usurpation in performing an the power continually abiding with the President," &c. executive duty with regard to the Treasury DepartBut the honorable gentleman's criticism upon He here puts forth Executive power and the power of ment. the sword as synonymous and equivalent terms, meaning the phraseology of the sections would cut both ways. the same thing, no more and no less; and asserts that as If all legislative powers granted by the constitution be continually abiding (by the constitution, I suppose) with vested in a Congress--that Congress consisting of a Senthe President, or, in other words, conferred upon him by ate and House of Representatives--it excludes all possibilthe constitution. Sir, I deny that the President possesses ity of any legislative powers being reserved for the Treasany power over the sword in the sense in which that ury Department--ergo, that Department is not legislative. But in sober seriousness, what is the amount of this difphrase has been used in that country from which it is bor. rowed. In England, it is a figurative expression, and ference in the wording of the article relating to the Legismeans the power of declaring war, of raising armies, and lative branch, and that of the other two articles relating making peace; which, there, is an exclusive and acknow- to the Executive and Judiciary; the word "all" being ledged prerogative of the Crown, as every one knows used in the first, and not in the other two? It is very who has ever read, even the elementary writings on the clear it was not intended to convey a greater or more exlaws and policy of that Government. Not so, however, tensive universality; for although the word all is used in in the United States. Here, war cannot be declared, nor the first section of the first article, yet the seventh secarmies raised, but by a solemn act of the representatives tion of the same article restrains its application, by giving of the people in Congress; nor peace concluded, but with the President a qualified veto upon the action of Conthe consent of two-thirds of the Senate. The power of gress. The framers of the constitution had mainly in view the sword, about which we have heard so much sense- the designation of the subjects to be surrendered by the less clamor, is not vested in the President by the constitu- States to the General or National Government. In the 1st artion-has never been attempted to be exercised, and ticle, they provide that "all legislative powers herein grantnever claimed by him. His being, by constitutional in-ed shall be vested in a Congress," &c.; that is, the power vestment, the commander-in-chief of the army and navy, of legislation respecting all subjects embraced in the convests not in him the power of the sword, in the sense institution, and yielded by the States, by its terms, shall be 4111 H. OF R.] GALES & SEATON'S REGISTER The Public Deposites. 41 [MAY 16, 1 Mr. Speaker, it is matter of some curiosity and an vested in a Congress, &c.; and as the legislation of a Government is the foundation of all other action, they pro- ment to cast an eye over the various discordant, re ceed in other sections of that same article to mark the nant, and irreconcileable doctrines which honorable boundaries of the National Government, and to point out tlemen have laid down here, upon which to base th the subjects of its action, in the powers of Congress. In nunciations of usurpation and tyranny against the the second article they proceed: "The executive power Magistrate; scarcely two of them agreeing with shall be vested in a President," &c., having reference to selves, and no one of them not contradictory to the the foregoing article. Having laid the foundation in the spirit and meaning of the constitution and laws pass first article, all that was necessary in the other two to con- accordance with its provisions. One stoutly assert vey their meaning was to refer to it by the use of the de- the dismissal or removal of the Secretary of the Tre The executive of what? Why, of that was a legislative act, that department being a Legis finite article the. of which the foregoing article is the legislative; and is the department; and sustains it with a great deal of broa whole executive power, which is entirely conferred by vehement declamation. Another admits that it is an that section upon the President, and so remains, except-cutive department, but that the removal could of ing so far as is limited and restrained by the succeeding effected by the same power which made the appointm sections of the same article. The gentleman has urged the President and Senate united. Another admits as an argument against the executive power being vested is an Executive department, and the officer an Exe in the President the physical impossibility in his perform-officer, and removable, too, by the President, bu ing or personally overseeing and superintending all the there is no official connexion or responsibility-n executive action of the Government, and contends that to direct or superintend in any way; or, in other executive power means only the power of commander-in-that the President may remove, but not upon any chief. This argument proves too much, and, therefore, of ascertaining whether the removal ought to be nothing. It would be as impossible for the President to or not: he may remove, but he must have no reas be personally present, actually and in person superintend- that removal; and that the removal would be a ing and commanding in the various divisions, regiments, tion and tyranny upon the officer. And one hor &c. which might be necessarily scattered in many distant gentleman from South Carolina [Mr. McDUFFIE parts of the Union, on the ocean, or in foreign countries, ed the high and startling position, with an appar as it would to superintend and oversee even the details of cerity and zeal, and with a boldness only equa the different civil departments. It is very clear that it was its palpable and glaring absurdity, that the cons not intended by the constitution, in vesting the executive confers no power whatever upon the Preside power in the President, or in constituting him commander-gravely and solemnly pronounces it a "monstrous in-chief, that he should attend in person to all the details being heresy," to suppose that it was designed longing to either. He was constituted the responsible other purpose than merely "to designate the title head of all the Executive departments; to lay down the Chief Magistrate!" (See his speech.) Yes, that t general rules of administration--to direct and control in and eminent men, brought up in the school of the great leading principles of carrying into execution life, who framed the constitution, were guilty the laws of the land, as passed by Congress; and for this solemn and profound mockery of requiring, in purpose, might require in writing the opinion of any of press provisions of that instrument, the highest q the executive officers, as well to assist and aid him with tions for the Chief Magistrate; that he should b their reasons and arguments, as also to enable him to as-tural born citizen, or a citizen at the time of its a certain what their qualifications were, and whether their should have attained the age of thirty-five ye opinions harmonized with the general plan of administra-been fourteen years a resident-the obligation of tion marked out under the legislation of the country; and, more solemn and imposing than that required if not, that he might dismiss them, and give their places other officer, to "preserve, protect, and def Without this single and united responsibility constitution of the United States;" and declar there could be no harmony in any administration. the executive power shall be vested in a Pro would be unreasonable and unjust to expect it. But it &c.; and yet all this, for the mere silly purpose has been said that the officers of the Treasury Depart signating the title!" ment are accountable to Congress. I admit it to the full extent; and so are all executive officers, by impeachment, and subject to be called upon by Congress for information in relation to their respective departments; but they are more immediately accountable to the President, as their executive head. There is no distinction among them in that particular. to others. Much has been said by the gentleman from Rhode Island on the third section of the fourth article, which authorizes Congress "to dispose of," and make all needful rules and regulations respecting the territory and other property These various incongruities and heterogene cisms furnish an illustrious example to be reco the page of our political history, and handed posterity, of "harmonious confusion;" and p beautiful system of wretched variety." expresses it- As "Like some patch'd dog-hole ek'd with ends of But they all harmonize wonderfully in the s clusion deduced by such various and irreco means, that the constitution has been violated; Who ever questioned the power its bleeding wounds are to be all healed, simp of Congress to dispose of, and make needful rules and storing the people's money to the false-named regulations respecting the property of the United States? the United States. of the United States." No one. Who ever thought of the President disposing Sir, upon the most mature, calm, and unbiase of the property of the United States but under a law of tion, and the fullest and broadest examination Con- part of the subject of which I am capable, my Congress authorizing that disposition? Nobody. gress must pass the law for the disposition, as their wis- arrived at the clearest conviction, that there dom and discretion may dictate; but, when the law is pass- foundation whatever for the charge against the ed, it must be carried into effect through the instrumen- of either assumption of Legislative power, or u tality, and on the responsibility of the agent designated or tyranny upon the officer; that all the eloqu in the constitution-the President, or some of the subor-zealous declamation which has been expende dinate executive officers; and that agency would seem to sustain it is but empty, vain, and unmeaning cla me necessarily to carry along with it the custody, the the Treasury Department is clearly design mere safe-keeping of the property to be disposed of. expressly recognised and demonstrated by law ways treated in practice as an Executive department, officer, designating him by his official character and consequently subject to the supervision and direction the right of supervision and control of that su of the President; that the power of the President to re- necessarily carried into the enactment, by legal move the principal officer in the Department at his dis-ment, and considered as being in the view of the cretion, and on his responsibility, follows as a natural ture in the passage of the law. I could easily furnis consequence, and is, besides, explicitly recognised in ples to illustrate this principle, if it were neces the very act establishing the Treasury Department; and time would permit. If a deputy sheriff were req that, therefore, in the removal of the deposites from the perform a certain duty, by a law which chara Bank of the United States, so far as the President was him officially as such, it would not interfere with t concerned, in discharging Mr. Duane from the Depart of his principal to dismiss him at any time he ment, because, among other reasons, he omitted and proper, and for no other reason than his not per refused to carry into effect that measure, and change the that very duty; nor in any way dissolve the conne place of deposite of the public money, although he had tween them. Nay, more; the sheriff would be res promised to do so, there was not the least violation of on his bond for the failure of his deputy to pe the constitution and laws; but, on the contrary, if the So, the section here quoted names the Secretar President conceived, as I think he well might, that the Treasury, who is to give the order with regard measure was a necessary and important one, he would deposites in the bank, and names him in his offic have been faithless to his trust, if he had not done what acter as such; and as I think it abundantly proved he did. If the President had been opposed to the re- is an Executive officer, subject to the supervision moval of the deposites, and the Secretary in favor of it, rection of the President, as such, it is equally cl and had been permitted to have changed the place of the power and duty conferred upon him by its t deposite, without the President's dismissing him, charges to be understood sub modo-subject to all the co of a very different description--of weakness and pu- restraints, and circumstances, under which the to sillanimity, would have been rung in our ears from the his office is placed, either by the constitution or same quarter, with the same zeal and vehemence which gislation; and is not to be construed as affectin we have heard on the present occasion. While, there-way, or taking away this right of the President to fore, we are guarding the Legislative branch from en- or superintend the Secretary of the Treasury in 1 croachments upon its powers and rights by the Execu-formance of that or any other duty, or of remov tive, it becomes us to be cautious lest we run into the from office; and, in fact, becomes a part of the other extreme; one, I apprehend, much more likely, and perhaps not less dangerous, of encroaching ourselves upon the rightful and constitutional duties of the Execu tive. placed, in contemplation of law, under the supe ence and control of the President. This is the vie by Mr. Rush, in that part of his letter which I ready quoted. It is far from meant or intende Mr. Speaker, I beg pardon of the House for dwelling that this official subordination, necessary in all thus long upon this part of the subject, and will promise ments, and in all communities governed by laws, greater brevity in the examination of the remaining in-in our republican form of government, any perso quiries. The next branch of the subject I have proposed to examine, is contained in the following inquiry: tinctions whatever. With this principle, then, in view, what is the contained in this part of the charter? The 16th Was the removal of the deposites illegal, and a breach already quoted, contains the agreement on the of the contract with the bank, as contained in the charter? Congress, that the deposites of the money of the This question arises, and is to be determined upon the States shall be made in the bank and branches, fair construction of the 16th section of the act of the 10th the Secretary of the Treasury shall at any time ot April, 1816-" An act to incorporate the subscribers to order and direct." This section confers no powe the Bank of the United States," which provides "that Secretary, but leaves him just with the powers the deposites of the money of the United States, in places before-reserves that in this stipulation with th in which the said bank and branches thereof may be es- precisely as it was, subject only to the requireme tablished, shall be made in said bank, or branches there- reasons to be laid before Congress, for ordering of, unless the Secretary of the Treasury shall at any time recting that the deposites should be made otherw otherwise order and direct; in which case the Secretary in the United States Bank and branches; and co of the Treasury shall immediately lay before Congress, if declaration to the bank, recognising in the T in session, and, if not, immediately after the commence- Department the superintendence and control of t ment of the next session, the reasons of such order or di-nuc, so far as regarded its collection and custody rection." This section was not originally in the bill, as is not only manifest from the bare reading of it was reported by the committee, but was inserted in the tion, and the whole act taken together, but is r course of its passage before it became a law; and would, still more clear by referring to the circumstances therefore, seem not to have been considered a provision isted at the time of its passage, which must be s originally of much consequence. However, it was em-to have entered into the view of Congress. By braced as a part of the law, and is now entitled to the establishing the Treasury Department in 1789, same respect in construction, as if it had formed a part of L. U. S. page 48,) it was made the duty of the S the original projet. I admit, sir, it is a contract; all con- "to prepare plans for the improvement and mana tract, if you please, as asserted by my colleague, Mr. of the revenue, and for the support of public er BINNEY, but a qualified, conditional contract; and it prepare and report estimates of the public reve strikes me to be perfectly plain what is its meaning, with- the public expenditures; to superintend the coll out any comment or illustration on the subject; as much the revenue," &c. By the act of May 1792, (28 so as any course of reasoning could make it. That the U. S. page 504,) he shall direct the superint Secretary of the Treasury is an Executive officer and sub- of the collection of the duties on imports and ton ject to the control and direction of the President, has he shall judge best," &c. By the continued pr. been already clearly shown; and from this arises another the Government, through the successive terms of principle, as I apprehend, a universal principle of law,ton, Gallatin, and Dallas, as Secretaries in that which must be taken into consideration in its construction ment, for nearly thirty years, the collection, custo as applicable to the circumstances here. It is this: that keeping, and depositing of the public money, h whenever a duty is imposed by law upon a subordinate conducted and managed by the Secretary of the VOL. X.--258 4115 GALES & SEATON'S REGISTER H. Or R.] The Public Deposites [MAY 16 for the time being, as might be thought best. The de-lected and in safe keeping, and that to be afterwa posites were removed from one bank to another, as was lected and deposited, which is left as the subject supposed by the Department best to suit the convenience order and direction of the Secretary of the Tr of the country and serve the interests of the public. On The money that is collected and deposited does no this state of circumstances the law passed, and this part by cease to become "the money of the United S of the contract, on the part of Congress, is clearly condi- and become the money of the depository. Mr. R tional or qualified, depending upon the discretion of the another part than that quoted, of the same letter r Treasury Department unrestrained, further than that the to, meets the argument very fully, and from reasons should be submitted to Congress. The Secretary select one or two sentences, with which I fully is not limited to any specific reasons-nor bound by the He says: "The power of the President, under th mere consideration of the safety of the money, or the in-section of the act incorporating the bank, to withi terests of the bank, although both these always ought to posites, could only have been conferred from the have their due weight; and, of course, his duty would re- danger to their being longer made. To imagine quire that the public money should not be deposited same reason would not be applicable towards e where it would be unsafe. But the bank has put in him to withdraw those made hitherto, would inv the modest claim of damages! on account of the remo- incongruity not to be charged on any Legislature. val of the deposites, alleging that the sum of one million lows from unavoidable construction upon the con five hundred thousand dollars, was paid in consideration in various other cases in law. To deny it would of the agreement contained in the 16th section, on the that the nation need not put to risk any more of part of the Government, to deposite the public money in in this receptacle, but must lose, without an e its vaults; which was absolutely its right under the char- there already-like the den into which the foot ter, subject only to the condition of the deposites being victims might be traced, whilst none were ever unsafe. This is clear and palpably a misconstruction of turning." It seems very clear to me that, even c the act. The 20th section requires the bank to pay one the examination to the narrow limits of the single million five hundred thousand dollars, "in consideration alone, it will not in fairness endure the nice cons of the exclusive privileges and benefits conferred by this contended for; but when the whole context, and act upon the said bank." The next succeeding section isting circumstances on which that clause of the (the 21st) contains the exclusive privileges and benefits, was passed, are taken into view, it dwindles int that no other bank should be established during its con- verbal criticism. The Secretary of the Treasu tinuance, and to bring suits, use its corporate name, &c., to the passage of the bank act of 1816, had alwa after the expiration of its charter for two years. These cised the right and performed the duty of manag were the equivalent for the consideration mentioned in conducting the details connected with the collec the 20th section, as the conditional custody of the public safe keeping of the public revenue, and selec money, as contained in the 16th section, is the equivalent places of deposite in such manner as best suited for the duties required in the 15th section-"to give the venience of the people, and which contributed necessary facilities for transferring the public funds from the judgment of that Department, (always subj place to place, without charging commission," &c. The advice and approbation of the President,) to th 16th section contains no exclusive privilege or benefit, ting and securing the collection of the revenue. and therefore forms no part of the consideration contain- clear, from all the communications from that Dep ed in the 20th section. The exclusive privileges and among which, I refer to the letter from Mr. G benefits conferred by the 21st section alone, that no other the 8th January, 1812; and surely it would be a bank should be established, were more than an equiva- upon the Congress of 1816, to suppose that a lent for the sum required under the 20th section, and practice of the Government, which existed up to could now command more than twice or thrice that sum was entirely overlooked and lost sight of. Is it from any new company we might incorporate on the same fest that it is that very practice which is alluded terms; besides the important privilege granted in the 14th expression, "unless the Secretary of the Trea section, making its bills and notes a legal tender in pay-at any time otherwise order and direct?" TI ment of all debts due to the United States, unless Con- further confirmed by the practice afterwards, a gress should pass a law to the contrary. In Pennsylvania, by the letter of Mr. Crawford, in February, 182 it has been very common to receive a bonus from a bank 1817 until October, 1821, he had made about f ing company of five per cent. on its stock, a greater sum fers of public money from the Bank of the Uni in proportion than was required of this bank for the mere to various State banks-not only withheld from privilege, not exclusive, of banking under the authority or ceased to deposite with it several millions, but of that State, where there are numerous other banking to that amount, of what had been collected and companies, and there has always been a rushing anxiety to subscribe for the stock. there; for reasons of policy, too, which he assig distinction now taken, between the money coll A distinction has been attempted to be drawn on the deposited, and that to be collected and deposite 16th section of the bank charter, between the money order and direction of the Secretary, did not th which had been already deposited in the bank, and that the reasons and principles of the act were fresh which had not. It has been said, that although the Sec- collection of every one, seem to be taken. Bi retary might cease to make deposites in the United States cers and managers of the bank were not so lear Bank, or might withhold from it the moneys to be col-law then, as now! and perhaps had not so muc lected, yet he had no authority to withdraw from it those to resort to its nice technical distinctions for already deposited. This distinction is more plausible than But it has been said that the Secretary of the Tr valid; and when it comes to be tested, will be found to be the umpire between the bank and Congress; a mere technicality, and is based upon a confused and has been seriously and gravely contended th erroneous impression, made by the use of the word breach of the agreement for the Secretary to e "made," in the future tense, and referring it to the duty as such, without an expression or direc wrong date-referring it to the period of the collection Congress to that effect first given. Between of the money, instead of that of the passage of the act, to when a matter was referred to an umpire whe which it was manifestly designed to be applied. It is to act, it would be universally admitted that "the money of the United States"-the whole money of to await the direction of one of the parties; nay the United States, without distinction between that col-be considered improper and indelicate in eit |