The experience of the past, I think, proves the truth of this. “ ‘With great respect, your obedient servant, 2d. I therefore, leave it. By the Bank system, each Collector or Receiver, is to Broken by it, I, too, may be; bow to it I never will. But let me forbear, remembering it is also written ``Judge not, lest ye be judged.''. The party now attempt to throw Barry off, and to avoid the responsibility of his sins. “It may be safely assumed, that no motive of convenience to the citizen, requires the reception of Bank paper.” In addition to this, Mr. Silas Wright, Senator from New York, and the political, personal and confidential friend of Mr. Van Buren, drafted and introduced into the Senate the first Sub-Treasury Bill, and that bill provided for ultimately collecting the revenue in specie. [4]   William Cabell Rives, senator from Virginia, approved the removal of United States funds from the Bank. One James Reeside bid $40 for three times a week, or $99 daily, and of course received the contract. Few words will settle this. Volume 1. What is the passing [of] an act of incorporation, but the making of a law? Like Lincoln, FDR and Dr. King, we liberals and progressives have got to remind our fellow citizens who we have been, who we are and of what we are capable, writes historian Harvey J. Kaye. No Sub-Treasury bill has yet become a law, though two or three have been considered by Congress, some with and some without the specie clause; so that I admit there is room for quibbling upon the question of whether the administration favor the exclusive specie doctrine or not; but I take it, that the fact that the President at first urged the specie doctrine, and that under his recommendation the first bill introduced embraced it, warrants us in charging it as the policy of the party, until their head as publicly recants it, as he at first espoused it---I repeat then, that by the Sub-Treasury, the revenue is to be collected in specie. The general distress thus created, will, to be sure, be temporary, because whatever change may occur in the quantity of money in any community, time will adjust the derangement produced; but while that adjustment is progressing, all suffer more or less, and very many lose every thing that renders life desirable. twenty, for no more money than Mr. Van Buren has expended in getting us through the single Who then, has the advantage of this “express authority” argument? Perhaps no position that the party assumes is more liable to, or more deserving of exposure, than this very modest request; and nothing but the unwarrantable length, to which I have already extended these remarks, forbids me now attempting to expose it. than the contract could be performed for, and consequently shutting out all honest competition, became the contractor. Indeed! On the examination of the committee, it was discovered that Reeside had received for the service on this route, which he had contracted to render for less than $100, the enormous sum of $1,999! In response to the preamble and resolutions of the American Baptist Home Mission Society, which you did me the honor to present, I can only thank you for thus adding to the effective and almost unanamous support which the Christian communities are so zealously giving to the country, and to liberty. Although nothing of the forty millions was paid on that account in 1838, it is true that five millions are appropriated to be so expended in 1839; showing clearly that the department has become a charge upon the Treasury. But turn to the history of the National Bank in this country, and we shall there see, that those Banks performed the fiscal operations of the Government thro' a period of 40 years, received, safely kept, transferred, disbursed, an aggregate of nearly five hundred millions of dollars; and that, in all that time, and with all that money, not one dollar, nor one cent, did the Government lose by them. By the latter, the interest of the individuals keeping the public money, will wage an eternal war with their duty, and in very many instances must be victorious. And here, inasmuch as I rely chiefly upon experience to establish it, let me ask, how is it that we know any thing---that any event will occur, that any combination of circumstances will produce a certain result---except by the analogies of past experience? 3d. Protesting that these authorities ought to settle the question---ought to be conclusive, I will not urge them further now. If, then, any plan can be devised for depositing the public treasure, where it will be never stolen, never embezzled, is not that the plan to be adopted? Any person who will reflect, that money is only valuable while in circulation, will readily perceive, that any device which will keep the government revenues, in constant circulation, instead of being locked up in idleness, is no inconsiderable advantage. Why, he sunk into obscurity and disgrace, to be sure, you will say. Here is the extract from the letter, being all of it that relates to the question: “ ‘The financial system of Hamburg is, as far as is known, very simple, as may be supposed, from so small a territory. This list of excuses I will rapidly examine, and show, as I think, that the few of them which are true, prove nothing; and that the majority of them are wholly untrue in fact. Is any one wise enough to tell? I now come to the proposition, that it would be less secure than a National Bank, as a depository of the public money. Omitting, for want of time, what I had intended to say as to the effect of the Sub-Treasury, to bring the public money under the more immediate control of the President, than it has ever heretofore been, I now only ask the audience, when Mr. Calhoun [6] shall answer me, to hold him to the questions. By this means more than half of all the specie belonging to the fifteen million of souls, who compose the whole population of the country, is thrown into the hands of the public office-holders, and other public creditors, composing in number, perhaps not more than one-quarter of a million; leaving the other fourteen millions and three-quarters to get along as they best can, with less than one-half of the specie of the country, and whatever rags and shin-plasters they may be able to put, and keep, in circulation. A witty Irish soldier, who was always boasting of his bravery, when no danger was near, but who invariably retreated without orders at the first charge of an engagement, being asked by his Captain why he did so, replied: “Captain, I have as brave a heart as Julius Caesar ever had; but some how or other, whenever danger approaches, my cowardly legs will run away with it.” So with Mr. Lamborn's party. Its interest, therefore, is on the side of its duty---is to be faithful to the Government, and consequently, even the dishonest amongst its managers, have no temptation to be faithless to it. Knowing, as I well do, the difficulty that poor people now encounter in procuring homes, I hesitate not to say, that when the price of the public lands shall be doubled or trebled; or, which is the same thing, produce and labor cut down to one-half or one-third of their present prices, it will be little less than impossible for them to procure those homes at all. eight years for sixteen millions. Indeed it is difficult to conceive how it could be otherwise with any one professing christianity, or even having ordinary perceptions of right and wrong. When he came into office, he formed the purpose of throwing the mail contracts into the hands of his friends, to the exclusion of his opponents. Retrouvez The Collected Works of Abraham Lincoln et des millions de livres en stock sur Amazon.fr. twenty years, at the same average expense that he did for eight, he would have carried us through the whole A Bank is not indispensable, because we can take the Sub-Treasury; the Sub-Treasury is not indispensable because we can take the Bank. In reply, I need only show, that experience proves the contrary of both these propositions. 1 ] The Collected Works of Abraham Lincoln, Vol. By the late National Bank, we had the public revenue received, safely kept, transferred and disbursed, not only without expense, but we actually received of the Bank $75,000 annually for its privileges, while rendering us those services. 1st. [1]   Pamphlet (Monaghan 2), IHi. Roy P. Basler and his editorial staff, with the continued support of the association, spent five years transcribing and annotating Lincoln's papers. He first says, that the expenditures of that year were made under the appropriations of Congress---one branch of which was a Whig body. It is for this reason then, that we say a Bank is the more secure. The chief expense of the Post-office Department consists of the payments of Contractors for carrying the mail. It is so, because on each of those evenings, there was a much fuller attendance than now, without any reason for its being so, except the greater interest the community feel in the Speakers who addressed them then, than they do in him who is to do so now. [8]   Resolution sponsored by Thomas H. Benton (Missouri Democrat) in January, 1837, which erased from the journal of the Senate the resolution of censure against the administration for the removal of the bank deposits. Look at Swartwout with his $1,200,000, Price with his $75,000, Harris with his $109,000, Hawkins with his $100,000, Linn with his $55,000, together with some twenty-five hundred lesser lights. Those who heard Mr. Douglass, recollect that he indulged himself in a contemptuous expression of pity for me. Has a year passed since the organization of the Government, that numerous defalcations have not occurred among this class of officers? Our position is that both are constitutional. But, conclusive as the experience of fifty years is, that individuals are unsafe depositories of the public money, and of forty years that National Banks are safe depositories, we are not left to rely solely upon that experience for the truth of those propositions. No one of them, in my humble judgment, will he be able to do; and I venture the prediction, and ask that it may be especially noted, that he will not attempt to answer the proposition, that the Sub-Treasury would be more expensive than a National Bank as a fiscal agent of the Government. These are new officers, and consequently, it cannot be true that the money, or any portion of it, has heretofore passed thro' their hands. Reports, to be sure, he will have, but reports are often false, and always false when made by a knave to cloak his knavery. Again, as to the contractions and expansions of a National Bank, I need only point to the period intervening between the time that the late Bank got into successful operation and that at which the Government commenced war upon it, to show that during that period, no such contractions or expansions took place. Mr. Douglass has said that we (the Whigs), have not dared to meet them (the Locos), in argument on this question. The expenditures of the Government for the year 1838, the last for which we have had the report, were 40 millions. They admitted that he was wholly unqualified for that office; but still he was retained in it by the President, until he resigned voluntarily about a year afterwards. 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