In a new country like that of the United States, where so many inducements are held out for speculation, the depositories of the surplus revenue, consisting of banks of any description, when it reaches any considerable amount, require the closest vigilance on the part of the Government.
Tyler warns about the need for government vigilance over banks managing surplus revenue in a speculative environment.
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Some action on the part of Congress seems desirable in order to give full effect to these important concessions of the Chinese Government.
I regard the question involved in these proceedings as one of vast magnitude.
I submit it to your mature consideration whether, in view of the important benefits arising from the treaty to the trade and commerce of the United States and to their agriculture, it would not comport with sound policy to adopt that…
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