SPEECH OF MIR. B. G. SHIELDS,
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ALABAMA, On the bill to repeal of the Independent Treasury,

 titled "An act to repeal act entitled An act to

 provide for the collection, safekeeping, transfer and disbursement of he public reyenue, and to provide for the punishment of embezzlers of pubic money, and for other purposes" Delivered m the

 House of Representatives, Saturday, August ', ls IS41 MR. SPEAKER:-I cannot permit an occasion like the present, although unexpected to me, to pass by without availing self of the opp 'runity it affords to submit to the consideration of the House the reflections that have occurred to my mind upon subject affecting deeply the institutions and inter- ests of the country.

 On yesterdav when the bill 10 establish the Fiscal Bank of the United States passed this House, 1t seemed to be the general understanding without ex- ception, (so far as knev,) that there would be no attempt to take up the bill under consideration until some period during the coming week-to be designa- ted with reference to the convenience of members ray-many of whom are now absent and most of whom desire little time for relaxation. The concaye deliberations of the night, however, have de- creed otherwise; and was not little surprised few moments since, when, having been absent during the morning hour with view to give some attention to the numerous matters of private interest c0mmt ted to my charge l y portion of my constituents, found that under resolution adopted by the House this morning., the bill under consideration had been taken out ofthe Comm tee of the Whole, and brought here for immediate action. With all the time and opportunity could desire to qualify myself for the task of addressing this House, should have abun- dant cause for hesitation in the attempt. Much more, sir, under such circumstances as exist at this mo- ment, do I feel that hesitation, and the embarrass ment growing out of Il.

 The hill under consideration proposes to abrogate the Independent Treasury system, or, as il is more commonly deuominaled, the Sub-treasury system.

 | consider it unfortunate for the country, have done from the commencement of the discussion of this great measure of reform, that il is It's fate be .J.I .f bu xtuf eft nn un Ter the influence of strongly excited party feelings feelings which seem 10 me to have had their origin more in circumstances growing out of the ambition and contentious of aspirants to power than in deep and sincere convictions of public interest.

 Separate il from the party settlements of the day, and permit il to address itself the sober sense the justice and patriotism of all partes-of the whole country,--and doubt most sincerely whether there would be found solitary thinking man, with justice and patriotism in his heart, who under full com prehenson of it's merits, would deny either the wis dom of its principles the justice of it's purposes

 The great purpose and aim of the Independent Treasury system to reassert and establish the principles of the constitution; principles whose strict conformity with the constitution--ay sir, whose posite essence with that instrument has never been denied. and is undenable. The fiscal action of the federal government-from the period when it first connected itself with and adopted the banking sys- tenn, in the establishment of the first Bank of the U States in l79l, and of the State Governments in fol- lowing out and indeed gong to the greatest excess es beyond the example of that government-had been at war with those principles. The disastrous evils which afflicted the country at many memorable pe- rods in it's history, and the certainty of neyerend- ing recurrence of those evils regarded as the natural and unavoidable results of such departure from the principles of the constitution. And who will deny that the misfortunes of the country at this time--the heavy embarrassments of both the people and government--are consequences to be attributed to the same source!

 It was, therefore, deemed the duty of the govern ment to recur to tho principles of the constitution; and through the insrnmentality of the Independent Treasury system, to bring the whole weight and influence of its fiscal action to bear in their re-estab lshlnent. r

 The distinct i've, essential principles of this sys- tem are-- Ig5ss51t.

 First. The separation of the pecunary transac- tons of the Government from the pecaniary transac tions of banks and individuals.

 Secondiy. The recognition and maintenance of the gold and silver standard of value, designed to be established and perpetu,tcd by the constitution.

 Third. The protection, by severe penalties and ample guaranties, of the funds of the government from pecuIation and embezzlement

 These are the elements of the systeiD;-- their nature simple, just, and constitutional: fi

 Now, sir, in all candpr and sincerity, permit me to ask, IS there man upon this floor who advocates the doctrine that the money of the government, ras- cd from taxes levied upon the people, should bs used to provide baaks with capital ts eask spoh CT iadi-