Abridgment of the Debates of Congress, from 1789 to 1856, Vol. 1 (of 16)United States. Congress
History
Abridgment of the Debates of Congress, from 1789 to 1856, Vol. 1 (of 16)
United States. Congress
Law -- United States; United States -- Politics and government
In short, a Board of Treasury would conduct the business of finance with
greater security and satisfaction than a single officer. He had a very
good opinion of the gentleman who formerly administered the finances of
the United States, and doubted if another of equal qualities could be
found; but it was impossible for any person to give satisfaction in such
a station. Jealousy would unavoidably be entertained; besides, no
inconvenience resulted from the present arrangement of that department;
therefore, there could be no good reason to induce a change. If the
House was truly republican and consistent, they would not admit
officers, with or without titles, to possess such amazing powers as
would eventually end in the ruin of the Government. Under these
impressions, he moved to amend the resolution so as to read, "there
shall be established a Treasury Department, at the head of which there
shall be three commissioners, to be denominated the Board of Treasury."
Mr. WADSWORTH.--My official duty has led me often to attend at the
treasury of the United States, and, from my experience, I venture to
pronounce that a Board of Treasury is the worst of all institutions.
They have doubled our national debt. (I do not mean by this observation
to censure any man who has been in that office: I presume they were
honest men, and did as well as could be done under such a system.) But I
do not remember a single instance, in any one board, that I found them
to have a system that would give even tolerable satisfaction; there
appeared a want of confidence in the members of them all: they seemed to
have no fixed principles to guide them, nor responsibility for their
conduct.
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