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p .A.PERS OF lVIIRABEAU BuoNAPARTE LAMAR 365 of oppression and fraud. In its transactions with citizens of other pursuits, the bank would be governed by such prudential considera- tions, as each particular application would suggest. As one of the primary objects of the institution would be to call forth agricultural efforts in the production of the staple commodities of our country, until which is done, neither commerce nor any other branches of industry can flourish, it might be well to direct and order the dispen- sation of its facilities to be made in every section of the Republic, in proportion to population. A National Bank should also be made the depository of all public moneys, derived from whatever source, and should such an one as is here proposed be established, a special law should make it the duty of all officers, whether directly of the government, or immediately of the counties, and all receivers of public money, to deposit all moneys due to the Republic, which shall come into their hands, in the bank, or one of its branches, within a given time, under suitable penalties for defalcation. And it should be further provided, that no public money shall be drawn from the Bank or its branches, except by a proper order from the Treasurtiy department. X ext in importance to the judicious and practical organization of such an institution, is the provision which should be made for its wise and equitable administration. This will be effected by selecting its principal officers, and its directory, from the honest and efficient business men of the country, without reference to their particular callings, or political opinions, in such a manner as will command the confidence of the people. If they be thus chosen, none need fear its faithful management, nor need the most jealous friends of our political institutions be alarmed at its party influence over the government. In making these appointments, while securing a proper responsibility to the government, and the people, we should keep in view, the necessity of guarding, as far as practicable, the Hficers of the bank, from that slavish dependence upon popular will, which might affect their integrity, or warp their actions; for it will often happen that the best officers of such an institution, will render themselves obnoxious to popular odium by their firmness in resisting those who would lavish the favors of the bank with an indiscriminate and unsparing hand. 'fhis dager probably, cannot be entirely provided against, but one of its greatest safeguards may be found in the division of the whole number of directors into three sections, and requi:r:ing one division to go out of office every year, without eligibility to re-election for three years after the expira- tion of their term of service. By this regulation, independent men will always be found at the board of directors, acquainted with the 1 management of the bank, who may save it alike from the influence f of party, and the improper bestowal of accommodation. In making ~ these appointments, my own impression is, that the directors who are ~ to regulate and control the affairs of an institution, thus established upon the funds, and credit of the government, should be elected . by congress upon the joint ballot of the two houses, for the reasons, 1 that being selected from various portions of the republic, the qualifi- cations and integrity of candidates ·would be better known to the I
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