Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850Benton, Thomas Hart
History
Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850
Benton, Thomas Hart
United States -- Politics and government -- 1815-1861
Mr. Buchanan expressed his belief that the substitution of Congress
for the Secretary of the Treasury, would make no difference in
the nature of the fund: and that remark of his, if understood as
sarcasm, was undoubtedly true; for the deposit was intended as a
distribution by its authors from the beginning, and this proposed
substitution was only taking a step, and an effectual one, to make
it so: for it was not to be expected that a Congress would ever
be found to call for this money from the States, which they were
so eager to give to the States. The proposition of Mr. Buchanan
was carried by a large majority--33 to 12--all the opponents of
the administration, and a division of its friends, voting for it.
Thus, the whole principle, and the whole argument on which the
deposit act had been passed, was reversed. It was passed to make the
State treasuries the Treasury _pro tanto_ of the United States--to
substitute the States for the banks, for the keeping of this surplus
until it was wanted--and it was placed within the call of a federal
executive officer that it might be had for the public service when
needed. All this was reversed. The recall of the money was taken
from the federal executive, and referred to the federal legislative
department--to the Congress, composed of members representing the
States--that is to say, from the payee to the payor, and was a
virtual relinquishment of the payment. And thus the deposit was made
a mockery and a cheat; and that by those who passed it.
In the House of Representatives the disposition to treat the deposit
as a contract, and to compel the government to deliver the money
(although it would be compelled to raise by extraordinary means what
was denominated a surplus), was still stronger than in the Senate,
and gave rise to a protracted struggle, long and doubtful in its
issue. Mr. Cushing laid down the doctrine of contract, and thus
argued it:
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