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 the Treasury, it is surely important to look to the wants and the welfare of the commit nity from the products of whose industry the Treasury is supplied.

 And as regards those great interests, we find the testimony of past years IS no less distinct and strong in favor of moneyed ln- stitution, chartered by the General Govern. ment, and possessed of it's confidence and credit. The period embracing the last len years ofthe existence of the late Bank of the United States as the fiscal agent, is fresh m the memory of us all, and is looked back to as a period of great public prosperity and' though other causes did doubtless cooperate to produce that favorable condition Of things yet one of the governing principles on which depended the steady advance of the country in commerce, in industry and in substantial wealth, was the existence of fiscal agent established by the General Government, and charged with equalization of exchanges and regulating the currency.

 In the present condition of our country, the relief to be anticipated from such an in stitution, cannot be immediate, but must be the work of time !; the business of the coun- try would, however, in the opinion of the undersigned, steadily and certainly revive under it's influence.

 In whatever point of light the undersign- ed is able to view this subject, he is irresist- ibly led to the conclusion, that such fiscal agent SO framed as to possess those impor- tant functions, is alike essential to the wants of the Treasury and of the community Such an institution should be framed with deliberation, for 1t must have high duties to perform, and extensive interests to protect and promote; and it should be granted with care, for it will be liable to great and dan- gerous abuses. As the fiscal agent of the government, and the effective regulator of the currency in widespread community, it should be steady and uniform in its ac- tion, and fixed and stable in its character.

 The undersigned has no doubt of the power of Congress to create such an institu- ton. Experience has proved its necessity to carry out other expressly granted powers it has been exercised and recognized by the Legislative and Executive Departments of the government during four-fifths of the whole period of our national existence, and it has received the uniform sanction of our highest judicial tribunal.

 Yet that power has been questioned by many patriotic statesmen, whose opinions are entitled to respect, and in measure like this, of high political import, which, if wisely conceived, and cordially concurred in, must have a great and enduring influ- ence on the prosperity of the country, it is important, as far as possible, to obviate ob- jections and reconcile opinions.

 If such an institution can be so conceived in principle, and guarded in details, as to remove all scruples touching the question of constitutional power, and thus avoid the objections which have been urged against those heretofore created by Congress, it will, in the opinion of the undersigned, pro- duce the happiest results and confer last ing and important benefits on the country.

 The undersigned, therefore, respectfully recommends the creation of such fiscal agent, and the repeal of the act of July 4, 194O, providing flor the collection, safe keeping, transfer, and disbursement of the public revenue except the penal provisions thereof, which probably require revision and modification.

 T. EWING, Sec'y ofthe Treasury.

 Treasury Department, June 3, 1s4l.

 REMOVALS AND APPOINTMENTS.

 The clamor that has been raised about "procription" will react upon its authors and those whom it prolesses to befriend, in more ways than one.

 The Administration have doubtless al- ready learned, that gratitude for forbear- ance is not to be expected, and that they have nothing to gain among political oppo- nents, and much to lose among friends, by delaying justice and propriety. No matter how little is done by removals and new ap- pointments, the clamor will be the same as if one universal sweep were made at once. Forbearance has no reward. The more kindness is shown, the greater abuse, appa- rently. They think to strike terror, and to bring about pause in the discharge of conscientious duty. But if all were done, that is proper to be done, as soon as con- venience may admit, the clamor would soon be over. At least there could hardly be more of it. It will be abated, of course, as it cannot fail to pail on the public ear.

 But there is a justice in this concern, which cannot be easily set aside, in the case of those who have been most efficient in redeeming the country at great personal sacrifice. Other things being equal, if there be any inequality between the claims of the Ins and the Outs, all proper conside- rations resulting from our state of society and the nature of our institutions, are in most cases in favor of the Outs. The De- mocratic principle of rotation in public trusts cannot easily be eXpunged from the common creed. The principles of pcrpctu- al, or life lease, cannot be defended for a moment Then where is the claim of the Ins to the exclusion of the Ours!

 But when the sufferings and the wants of those who have made great sacrifices for the country are as great for the wants of Government patronage as could possibly result from the deprivation thereof in any given cases, shall the true friends of the Administration, who have fought it's battles at such expense and sacrifice, be them- selves immolated on the altar of proscrip- tion by exclusion, while its enemies, who have fattened for years in their places, are