You will
in your wisdom determine upon the propriety of adopting such a plan and
upon the measures necessary to its effectual execution. When the late
Bank of the United States was incorporated and made the depository of
the public moneys, a right was reserved to Congress to inspect at its
pleasure, by a committee of that body, the books and the proceedings of
the bank. In one of the States, whose banking institutions are supposed
to rank amongst the first in point of stability, they are subjected to
constant examination by commissioners appointed for that purpose, and
much of the success of its banking system is attributed to this watchful
supervision.
The same course has also, in view of its beneficial operation, been
adopted by an adjoining State, favorably known for the care it has
always bestowed upon whatever relates to its financial concerns.
I submit to your consideration whether a committee of Congress might
not be profitably employed in inspecting, at such intervals as might
be deemed proper, the affairs and accounts of officers intrusted with
the custody of the public moneys.
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