Newspaper Page Text
V W. *:* -i-.-J *x jtkJ i-J 5
S.vju.kuav //■ 12. Ibo 3. • "
V/e > .J ■•< c ive B ..Is uud« r d,e d. .<miina
tionidfi.. ii. > ii : y <4 lhesuh<•:.. B nks,
fi (l | lt ihv pi'i Miii i a.i im d to us now or who
111 V.’ Si) ■<; sll >sCI iL'i* iO ills Itiwit’g. licl.T.
p • ,>o. (' i;i ■)• has :m ii es'idd ■■■'a! B • »ok}ill
}ill , M • s< hi com.', Gi. ui:>i t iimt.'.s A.
Ihn.Willl, <>q. (i ;.;,on< 1 Pol-M Am Hmie.r.
( her >kee ’i a ■ \ lo rs.
Oin ndvi .se n? c.i.'um.ns will show an al
vetiisi-HH <i by (!.<• J siio’Sof the Ld’oiior
C.ui i. f'n <i s. c m sde id Toe ii Lm.s. I'he
J A( -.. . iy S o|.(, ■•! iced mme than was i»c-
jh" ally, hxjhw '’d. -100 qa '■ ;| s much is will -m
--11l >; ISO the C< Ul't IO COllir.C! im die <■• a ♦ lion of
public buddings liia! wdi iie dike HS'l'il on or
iiaim'titil. Al ,”.v L"'s to i< !) >ve been
sold are in a sl.de us 1 pid m ovemt 11 .
Nov, (hat ilie comes! that latch ig’ba’ed ’he
pub’i< ruind i)> 'bis Sine is over, we pe-ceive
dum . now an I marc iiii ; i«rl.iiii piesem tli-.m
-Ivr s f.,r eontone 1 n i<>h. Al ich • < qoi es to l >
don ■ for ’!>■ <•_> ... . >r «i is cii run, an 1 tho.-
th t resen! ibi'-dill'-;< i:i counties ol it, v.i:
fun ,1 .> >ll n(b ciiou, ilj.i! ibov h:v ■ m)d< ik 1.
a t.'sk •' i p 01 Jin n y r spmisii h. v ; we lui.u
they 1: w ail im fi.nmi oiiii:i , !'',ii '■> 1- pt* f.i. iii-
jiiice. We w iilii r.i'.e!, u.'i rr iip.m a tie
ofwmu v. lii iik smm'J camm wi.'mu the rmg,’
yf their lluZ <m
GOLD—L VXD— ‘BVERTIS ME' FS.
V. • .)<> it;.!; fi .. 'o p-.- coilt* 1’;;' the oWLIC i
of M nes and L ids hi lies par of die st.m*
hat > .> ;<’l •In I ,h nl ndv 'fii'*eiii'_! 1 Im.o ; hi -
p’ or v. ■■ i ' ‘ it in ilishrs I.ls *.» :th So .1; .C'i b isi
fc.ii'--s>, '*> f on! ve:\ corivetiii .1. ;o ;h<‘.sr llc!, a:
ave y model ;e exo o ’c, oid is very i ou ):’-
iinl to ill' 1 ptr ci' ... who fi '-qn.'ic I y has to lorn
ovci the ji ipcs nJ •)<' l. i'i l ■<■ i< to, in seari tj
Cl I iii’ d' 1 wei. ■: ho | ’ ■ iiaps II V s-s mie two hut’
rlit <! i. ■*• ell who in I<. > si' a* i»t I ■: ( * 1 can
be ■ oH'd w rt'i Hu' L. i ~> I'i? m|h ci
no : . 'i •• <li e< i ti.i- a ’ijiiou of iiiosr dispose,l
lO p I) SI ■ <» I or L Old Lots, to out
au ve:' ■ • 1 :i;■ 11 >tnmns
THE PUBLIC DEI’QSITES.
1 ''iibt.sh to-it:i'_ , to die "V litsioii of od;,*i
H 1 ,I* I,'' ■I) J'■ k ,'O!l' V It'tvs 101, !S 'll• 1-
ne , tai ’., 10 ’die rt nov, t ) of: ie pubi c funds
fiom die 1 .. S.los {* :d<.
We L iv" on bail'! nd v. ii publish next HO, I;
the 'l'i-ot; of Pie I) ■■■'•to • oh Hie part of the
Go 1 - <•■ Uiiteui ; <ve w s|| o ■ it <1 room t’or ties
t.l IH >1 11: th I ii’ili 1 I I'lo w;; |< ot' f.isitU-’
pr I 111 subject ill ’ht I) 1 if. ii 11 •>! 1:1 otl< View,
but the length of tin I' ‘sidt nis re .st,its forbids
it.
Wo porcfiiV'', L’V the ' > lobe .?m>it ol Mr.
'I 1 vto tn,' 1 1' e,s<l v !) ii uc ot. i'm t M■.
Do liis n‘st !'d, we > > stimo that his re.
•jb'' on was , net t! b" i" Pies:'!<'u:s deter-
m hi respec : ;i t’iie leio iv.i 1 : of tin Public
J.) po-iiies.
/’/• ID th.
APPOfX TMEXI B\ l . iEP ESI i)?AT
Il B. T oicv, O q. '.I -is' vest- \ • opoino'o
Su rt '. the [’ • S'! d'lhe Uli utl S'Utf'.
G .ci ■ i.» Hi s .;oi' hi ni'ti:. M■ T nicy h -
S.-iied t " olii ol \ 11 \ <«i.'iieiai.
It b s linen ..rene nJy U raw > tor some mon:,’:s
past ti; Io- oia pt ici ol 0. . ’ w m io, pub
lic depcis, s ts •!!* !»" Bild; 1 ! ill'* I ■! S ll‘IS
w ■> iindei , 1-s 00 lid f i," e ' mo. ti o
W :** li’J-. h r •ii I .' t iuulii
tin '-ill* ii inn nl i: P • -i'bm ml t h l'f‘ -
ent niri'.lii's <4 I <•-»'» ■>. <ll • I wlm n . d
been c i|' n, .<> ! P • nlc •> ■ > ist h-m
in ’• 4 ■ i. l • . ■ < ■» on i> *• ■'' j <■.. \ i >■ (
Ver v I in * ci it'd > \ in . i ; . the [’ ■■•. i
di ■!'<• 11l <l|>' CO ■lil.lill*. I) Ilf ■'< 1 ■ il-
po> <-■ MHO !) (> (I; r < d ( > Ijj. s, IJ itilist,
<i r ■-. it ion u • nniuiiic *■ • 11i c.
h - ’ '< in 1 e .ii -1 iv I si, < i lact’i ig
ii i s. < A I .i pm p->s- , ii 1 tbe I ic.•.
tin rr 'miv. ‘ it i< wus l i. cd. A- pub
h- i . :.i Ibis ' .‘i’ll ■! w •• ii s si>bj ci, ;
is '' ’.-hi ! n ill Oi.' i p/t vnt iti si) ■
d< • .u. <’ iii:-i< p I’vli i on, ii ii\ lii'fm
ill he c iininii . iin in i-’rn by Hie
Pie-. - Ibisf • .iiiip a i i<o, v li s
bi > i 1 ■■ ' ..i ns 1 i i<r pu pose, wh ch
\\ < • >'A ft I 111 p': 11. >h.
JRc '! t/ Ju: ('a ti's "• the ISM Seplenihcr,
IS.Jo.
!! • mg co - is i . ■ \ .I ;eno lit ■ <■<! ill
lip ’ s II I ' Hf'l.'S, VI). |i . ... | (l t | still*
Illi! '<l <> 'll, Vl ii I I i'll, IV . ,;f ■ pi.ii-
liC <1 < >1 e> 1 1 ’Hi 1 \ c (1 lu•ii . S ‘es,
11’” P• s ' '*" in ' ■ i' \' i < i.til mline i e
in >in rl' .! I'.,:> <i i i final coiu-lu
fei ■ ins -’wo in nd. old liie ifisiins o.'
V.. ''is ’<»*<»•• l. i: i ie i 1 • • < i | >ul ’ h in
in II’” tei I), at:d o|l evi'ii. 11l >. licet Hin.s.
1 P sidei, ■» c nv ict 1.1. is .<t be <1 .nnei tiu>
t■ ' !' I ol Suites,
kit. ■’ -' IV i! • I by i -ov i i is, w< re
>■ wr* ig when he » ni< i • ■ I -
I It'S ‘ .I''M■eS*l ■.III .' ' ’.I .II 4 llll' v .
If . v ,S illdliie till . 1 !' Ct 111 snt i '. tin’s |>\
W i In* ss is s’l ..• i H vi | i . If |
tli< t; > o«h .sihii, nc ;l li” . i i mu <it < t iii
gr< ss ml ’! e ti. ei le. In eqn - • ti of i;> .
tlf : lei . In pi tls s. . - 'ii i: s Il.b. ..I
in •» e (’• i) •< mln i. 1 s.’ ), ss : o : . i<. o . .i
\l.e t o! I > i etnl’." . 1 S3O !. IS3 1 , ami ii in
el is,JO I. ■ ii: <'W on; n ■ ■•<'ei atton, s. n
s.i ■ - . s in f I itioj to i -nt > fire A I'm
S'>.uin lS 3 1 -2. .in tci sv i- >-ed b i «.» -
j V 111 - S t' .
'I •• II >e ' I ;.ck . I t»Ol A'< .Il h I’si'b it I
•>’ ! - fi s in |,u les pis ii ( | vet' ii
Ise reic. !■ fe '! . . • icpe.tep am
i I ■■ upon th t ■ r il. s •• -i vines b -t]
:o ■'< '■ a 1.,' .it : •ss ■. it|e;t _> .it
I • . l"« i’. IV .be ■ .'i Xt » .tier; aii.
iu><hi - u’i> ii.i . u ’iHc • lis e.inn i s
i ii, x v i<» eqinvei - 6 J« • m 0 i
lion II- s < '< sal t , l<\ ! • <| o' ,i. ’
tien o'ci' • jn« ■ i<". w it <-s abii»iim<.ii
[ olbur upou iiiuilarpiiuctpit’s.
T't'.ere are strong rrns.nns for ii lievittg ih i!
i the i.iHitiv'! i i tiie b ink in asking Im’ a m-chni
j ter at ’.li it .si's.'-i'Hi el'congress, was to ni .kii it a
ih'itdmg qiys ern m iim election ol a I': esideiit
jof tiie L'.du d .''i i't’s dm < esmini .Xovembei ,
• ,mi ,di t. ;;■, .ie.'in-'t! iHTi'S'diy, wcie i d-lmi iv
pr.icme firnm tiie peopl*-, a reversal ol ii:c pre-
; dd' llrs decision.
i Aidmngii the charter wis ajiptnacliing its I
■ term'.i.iiitm, mi-I l.'.e bank w s ivt ,o e tiia', H was ■
i lite imemi. n iiftite m.iv; iiinient io t.se the pn'o
liic fl.-posm* ,is fest is it accrued, tn till' pay- ,
j iro-o of ihe rm' ’:<• debt, yet did it extend i s !
■ i Io: - f in J im ii >. 1 :s3l, i>> A ••tv, 1832, 1; am
’,d 42,402 .’>3 1 23 o f>, 128 0, 0 72, i’emg an
iirrre.j.s,'<d 328 l? 2 ; tit) 4S, m Sixt co month;-. .
i ! i is < <>nfirl( i,,iy veil' v. C mat dm leading ob-
ject oi : ‘"s rmm mM exo asm i nf i s la ms, w is ;
m bring as 1 ge i p i:i -n <d' dm people as p •?- 1
1 s.,'7' under i s t> ;\'.;-r ,md to' itmci’ : and it his ■
Ilmen disclos.d, dec s<>int’ ol lim I o gest sums j
' were granted on verv umisn I teims to coiiiitici- ;
• ots of the public press, tn some o! lirnse casts, i
’ the motive >v s made manifest by ilie mammal ;
'o; tiisitfii.’nmi si'Ciinty t keii for die loans, by i
(th ■ I pe am m's discount'd, by the ex :aoi ;j;- '
I awy ti:n * .td -wed iur pavm- nt, and especially ■
bi' the s: b■''ituenl coildilC oi those ii'CCiVitio
*. , !
.to < ccoiimm lalioiis.
f! '.vi:--g liken these prelitniti iry steps lo b ■
' i mi ■ ' ia'i'i public op'iim.'i Hie bank < om ;
i i : .'i vmigte'-s ittd ■-!<'■" . a :;ew cnariei. im 1
: Object avowed b. 71 V '' hi-' autOCd!< S 111 lip.* |
• tik, via o pi// the. si io the test, ili.i I
tiie combi v in'.', ’ i. b.s linal Jimuinitiation 1
rcimve to p 0 his /’im m dr er..suing rb-t
a tint,. ' !i V*ea.alr 11 IS 1 1 1' ia L. ,i' I"S W >e .. iii I
e e;1• ice ■ tij ■tti n a a n iho d’. in; u-nidi, hi
! i::.> ’hi- people i-i a far ■ab'c det; si on upon
■os p-eteiis; • us. ’’nose whom dn. bank ip
.: p a'C to • ■.■. Kt tile 'ls (1 ’Illa; ■■ f;)i rhe special
. f i■■.< ' t < (HI, W• ■ e V>\l ! I ! ip! ill: IW’; ■. h ■1 W 111 -
pd ;I'eti’. s’-ott!'! 1’ 'tsuleni bi s is'.iined, un-l
.■t '. ,n. w; ii rn i.a u» Marin the wh'.iie people
. by pirn mg if - i pressiori in die prtcr of pro-
; per y and pro i ir.*. and lie g.:um al loss, im ou
. vcriu'iice iittd i stress, w'liidi ii was reprtsniited
i w.niitj nnm,'dta•(•:v fbll-.w Hi" ro-elecliuu id the
• ■ pr: sident ni i>,>p"Sidon o he ii ;i>k.
C.ui i now be sm i that tiie tpt'St iou of a iti-
i :i, ■■■! oi tiu fi.utk v;, s not decided at the elec
tmil v ii. i eiiMi 'd ? ij i ! tiie v i b at q tt-
I VO. <d, ‘.>i i; nJ i'. not rov i.'il tiie whole gioutid
d o i<d mei el>. 1 iKeii exei p:r ms to die de-
, hiii.s < f the b.ii, oi io ilie tmm t os pa -. go—
; if ii li id ho, met die whole giomui oi coostiiu
; imn if v '■'.; expo 'ioticy, dien Hirro in.'giti have
i>. i'ii > mie pl "is ’jtli s fol the alleg.'itmn ihittm
qn- s’io.l W 3 rm decided by lhe people. Il
iv is to comp-'i tiie presidem to lake hit S! md
i 'ilat the q o'siion Wis i> ■ . it io w o :.i a ih it
fiarticui n lime. 1! •m?t• ac < u dlenge,
ty look file po3itiioi mii wh an i.s dve.s.ii s
night so force liim, md f.ankly d 'l i ii' d ins
tin d.e .diie oppose on to the bmh aS belli, bm;l
itiieoiisti titiiiii il mid itiex.a on'ie, (Li tn t,
L'f-ein ! ide (••■• '■ s i go, dio die p epic, old
now it: >' th" peo le ii -ve susi. in -d the pn st
(dem, iiotwi'h' i:: Imi! . iie ar: , y of mfl lent-e nid
I powei which n s- i: m d>i ,o li,- ii upon mm, it
is too lee, ii coiifi i-'i’ Iv h ni.s, io s, y that die
question ii-.s tiol tieeu d e. lK’d. Wil l :ver m.y
tie ilie opinions ,;i oii'ets, the piesideiii eon
,si iers ins re-vice; i- hi as a decision of > tie people
liigains, me butts, in the conelnding pua
i graph of tn.s veto tness.ige lie > :;d :
“ I have now don •mydu y <> tnv country,
if smsmiti -d by my I'eiioW-ctiiZ as, ! sh di UC
.1,1 ciul mm happy ; .1 no , I sh d. find m re
m i\ i s winch impel irm-j >mple grouu s tor
con e io m; in ipe cc.”
Il wii siis itir-d by a just prop! ■, md no
lie i s to o' it.ee U.S gl.it it Ude by cany tnit mm
ill et oh i. G-.H is.mi. so lai as ii m . mis upon
i.i h : i, »
Ol all t!:o subsum es for tiie oris ni bank
nh < ti ti ‘Vf been sueg. s nd. n me > em- m ,• ive
.......... . . .... ......■ . . . : . I , ...
( umc j aiis .onsiilei a in” po nni nl nc puolic in
,i s t tvor. (Sj' is of in ma e i i hi tn snntj,
c ns i . i <nal obj •; i'liis lai u iie it in. |i. sn<
;<■ i.> ii s le t n e n<i :itii« .i, itvl t erluipx i<» *i
.or.- .i<’ s i'.iri;; o.ijec i<ms mi m. seme of ex-
:[r u.r. in 11 Imi - n cmi iv of aniiie-
sp ’.•> <i 1 j "i. iis <•< ii li is i inp.i .1 o cm:.ml
; ine y- ' l ' in 1 1 ,<’ n ’ mtis be ikon um o
; itn. e. i > tn" ,<>.s <• w ‘i tie xecm ite in .iucli.
1•» tjib* ■» jiri.si dll ib.’: C > i "li otei tile u'.i-
I'liC’v nd ttie . iucr <>vt.’i nniisaiu‘ls now : .o>-
s. ss. <i l'\ tie bulk i Unite.i', S.Uts, even
wi n ili< m nt-i it) <. ii in * Ini be i . respsinsi
tJe I. uc. pe p.e, svm.lu tie iS i| C .<>l’. i(lie rtiltl
■s .iu;eio!i.s as to n <ve n .is r. i . .\i nliei tile
one Im at i..ln ii - ni’ci ss iiy, and ihuieiu e
nl.; Hi lioi <) lie i. s<>. if ! io.
U.. <li .. ole, iln: picsiiieiii coiisnleis ti r.s
coll, lus sety se .led lino h Ch.dim ol Uli I) nk
oi uh i ii; <;d : te.s w.!l util be ivm TV >l, .md
ii i. •> no i. ..-• .u.ibie .p ound io belli vt i i o any
subs.iin e will tie t m slu d. lie w bound .<j
icgtiliie u s coms- oy < n? law’s as they e.xt>.,
•uni i. io . ■l..p i i in inti:, lerencc oi die le-
Hi.sm ive povvi.;, ’ >i i.ie i.aipm,:’ of i,-.lining new
•. >o’ni., I j, prop- r fm linn season ib!v t> c. n
suii'i Im’ni'tins by .rii'ch in-*e«vice- n nd- ed
by tie hoik of'.he I St ill s <iip io be p»’t
.". n e.. tie: ns eli 11:ei sb •ti ■■ x;»., i■.
i 1 in 1 i v.-i n_ 1 <vs deci ire, m.t “ tire depoS-
l es of i|;c pi >ney ot Hie (. Hi i d 5..r.“>, OI place
■ in v. m h de- -nd bank and bi amh' s lirneot
, i:i.\ tn- es ;--j . ,(.•(!, s' ■’! be in •<!’• in said bank
o; oi tiiciit s tin root, nn| ss Hit- se< rei i. v of the
• li« isu.y sin<ll at any .in • mtieiw.se order and
-'a t» winch case :e secret iy oi itfi tit i
sir * sm.li limn d. i eiy lay before ''ongii ss, if m
1 '■ sscni, and it no., ini'iv' liaielv al er the coin-
UH lice.item of me m xt sess.mi, the re.isou of
- - h m der or dir- fii.ui,”
. 1 !i.» p ever of the secret irv of :he ueaxtirv
i i <i pasi es, is ttmjttrnZi/ic//. i’tieprov.-
’I 1 he shall u pon ms i e tS’His to < 3s,
s . Inn . H dit not been inserted, ne
>’ w ■ ' H <‘u i. .uvjnhle to empress, had
• '•• r aov :1 tor <my other Ulan good re i-
l. r •*“•. s, d . - < ■ < isibility now cv ise>, upon
it ‘ ’ i 'ii o . . j ..nt ones to c mg. ess.
n ibe <i. lv oiijei- m I'Movisio’i, is to in iki«
d -..SIP i-o-s -ct I. o ccxnjri *s s-nd enable
‘li*-: ' n.v * mo t. „<j -v io in je oi il>*'ir
< s’ an ’i’c>> and pn. . . .ii-d . tiei cup hi Io make
- >ch I ii ne p.i .v > .’i iv ’ .'v !- )eg;>i itive
' • . ■ i •: <■ . )
i- po> <.! -ct iii' i. i;n " •v . .■ -'• re isotis miv
-b» v"!’, I■ < 1' was t”,w| by tht.
al sec' c- -y <r i<-..s i v ff.M iut romr.idiction
carb' as 1817, that be bad power “ ro cun-
drel :’:o prorct'dings’’'ofibc bank of the United
: S: I'es at any nmnicni, ‘‘ by i ii.mmiic tiie d- po
'Siies to.tlm .stale b oiks,’’.-ii mid it pcistm mi li
bber.o cmir.se lowaTds ih.iso tnslrthii' i• , that
ifile s cieiary cf lite iieasthy will always be
■dispose,) tn support lhe credit ol the Ldoti'd
i S'.ates b-nks, and w ii invariably direct trans
j iers f om the di’posites of 'l;e public money m
(■mi ol tm.ir b-g;i "n pie exertions m mdntain
ttliei. en d i am! lie asserted a right io employ
Lhe slate bulks when the bank cl :be Utriied
; States shmt’s'i ref ise :o rrc-'ivS on deposite (lie
! 'ion's ol such state banks as lite public, inlcrest
‘ ii tjtiired, should be recurved m paytneni ol site
i!)iic ibi-’s. / i v'ceral ms inces he did iraiis
f c übiie dt p■- 'c o sta e batiks, m lhe im
incil.itr' v’.cmrj ol ij; aches, Im' ni.isutis con
j m-cit'd oniy v, ;;h the s dmy i.f drive b ink-, the -
Jpiibi.c c -iivmi.riice and ilie interests -.if tiie/
■ 11' 'a sr • i
li ii wa- I .wf'd for M . Crawford, the secre
( tary of the ire isn. y, at that lime, to act on these !
! priiimples, il will be difl'ieuli to discover miy 1
| smmd reason again?; the application id simii.tt j
i m incudes in s ill si imager ctses. And it is m
! maitei of surprise that a power which, in the in- ;
' l im - y of the bank, was freely asserted as one ol .
■ tic orditvi y and faiiy/ti ir diiiit.s ol ihc secretary j
! if ilie treasmy, shoui 1 now ba giavcly ques-.
! Honed, and .i tempis made to I'xeiis and iHmm i
‘ lie public mtml, as ii’s mi : trrft and tm’iea;u-ul :
' powe, w. s aboui to bo ii.tirped by lire cxccu-
I nve bf am. ii of the governint m.
■ it is b .’. li’.ile I'.mto ih.it: two and an half
i years :o lite tei inin ition of ho charter of the
pii’xent b itk, Lis cons:doted is the decision I
j>f thi' niitii :y iq yh d tht ti cease to ex st,
> ami no man, th; presidem believes, his reason
; ible ground tor exp -ciamm liiat any other bank
■ of the Uarm! S. ties w:li be created by con
: :_;ess. To ilie jeasmy dopiutmeni isenlrusi
e : I l '.-* said ke. ptng and faithful applicatiiHi ol
tile public moneys. A plni of collection dif
ferent from she present, must therefore be in
trod ced mid put m complete operation before
file u’lsso’u'.tmi of die oiesent bank. Wmm
sh •!! i; "(' connnanced ? Shall no step he i ki.'ti
tn tins i ssi-niti.il concern mud the chai'ter ex
pires, ami tiie treason fi ils t seif without mt
agent, ns arcmin s n cmifasmu, with no depu
si ary tm' its tamls, id •-m whole basiuess ot
lhe a > vernine nt do; .’tiged ? m sh di r be del iy
ed until six momlis, it a ven-, o, two years be
fore tl>e oxpit oi-oi of hr* charter ? 1 is obvi-
ous lb >t any n v system winch m-v be s .bsu
i i P'l in th’pi ci- of h ■ hank of the Uii.iod
St '.ms, coni 1 no be str! lenly c >r ted ib.u ei-
I e‘ on lhe let Jim ii.ion of tls ex slence witiev:'
sm imts ntcotH "timnee to ie gove; nine.it ami
liie people, i s vast ttnnnd of noies me then
to be red ' HtV'ii ni ! w-.ir: awtj lio n circula
tion, anti rs i tini'-mst' dem collected. i'liese
opm aiimts intis lb- gt adti :l, otherwise imicb
sulft'ring mid di'-n ess wdl be brought tip mi itm
co ntnmmy. !, ought io bn not a work of
momhs on’'., Inn of year*, and the president'
J;inks i ''.m im, with due v.mniion to die imer
esisof .lie people, he 'trigt r postmined. ft is
Suter to begin oo somi th »n to delay it 100 long.
I is I if tiie wisdom of congress to decide up
on tii.’ b s'. scl'S'im e to be adopted m the pt tc
of th- oink if tiie Uni’e • States; mid the pre
s:r ent w<m!d mve liimself relieved f. on a;
he ivv .im! painful resoon? toility if in the ciim
tei i-i the b ulk, had reserv'd to itself
the power ol diree’mj. it tt«. pleasure, ilie j,*t:b i
lie mmiey o be eksewm ie d iim. ed, ami iia.l
it-> d-voiv,*' ! th it piw ;• exclusive''/ on one :
ol the exec i■ ive dco i tfien s. 11 is (i.a loss now
io ■e >v y hi , m i ; .ip utn power
wis m !‘.'r d ay thos ■ who ue peculi >rlv •
m i i'» > H'teJ.X im !.'■> trdi.im, of im? public
tn ■■ •. P’ ii ipst; wis m>, avetst; J . Bn as
i <• Pies m pics.nn. <’bat the ch iii-.ir ’o me
■b mk .s o tie emsim e;i ts i coati ..•( on the
p ir. of the pavet ttm.-'m, it is no; n -.v m the
(lower of com*! (»u i> 4 <we_ trj its stqm! imms ;
t.. 1.. « ■. . . ‘ ....
ii-. by die tes ms of .it '*■ act l ie . mbiic mo
rn’;, it o be d.'u is: *d iti th-’ b mk, diirtna the
; ni mi; nice oi , <s , i) ( mr, u"l ’-s the seerct'-oy
ot he Ucis.iry shail <v’ie wse direct. t iiii '...
lien foi', die st’cte uy of ih<’ trees i v ‘is:
■ii s, coil'. ' es* has tm power over th>’ subject, ‘or '
tin v <• .mint add a new cl <i>s'‘ to tlie cb.iriCi or
sii ike one out if i without ihe consent of the
ban'; ; 'nl con e<i !• n iy the p liiiic money niti.i
< :i :i tn till ms i utt‘>n to iin* lasi uour oi ii>
c.XiS i'.h'c, iiidess the s ci'.’tatv oi ihr tru entry
sii id rem -ve at an earltp. day. i’nc respi>:i
sibd.ty >s ilms lirown tin iithc ix cuuvub inch
of lie o<>ve< imieni, of deciding now long before
;he vsp.'.. I'm oi 'he ch o ■■, the public uiiercst
w.H icmine he deposites to be- p! iced else-i
where. A'd 'liin ’igh accoiding to tin liatnc*
<id p< n :pl • ol om govc’i tnn u, mis decision
wc.md S"i m inn,.? properly o b imi. to Uie in- (
‘’ishiiive tm vei, yel asthe lrw his imposed u
u inn Hie eu'cimvc icn-u-mi'iit, the dmy ou.>i.i
.o be f ittiluH;. and ii m v met, and the decision
inn e and i-.vc'i'ed upim th" bps: Lgins (ha! can
tn' oh' on ■ <i.i 1 he best jiidgnient nit cai be
fa.tn 1. J: would di h'.’oni.* die myceti*.ive
i: m ■l*3’ihe goveimn ni io sm itlk fioin any
.!') •> wlitcb t'.’.o Itw imposts on ii, to fix upon
itlrfrs me !a's(>on«ib.li:y which jus ly belongs
’ii i:s , 'lf. Ami vv cb- the pres.-ieni anxiously
wishes io .tbs. .in (rmri ill" exercise of douhtliA
powers, and to void 31 iniei fcreirce w: I; me
riglns and duties of others, he must yei, wiili
unshak-eti coTis ancy, d.scii n.e his own obliga
tions : .mJ C’.unot Haw himself to turn aside,
in ordei to avoid any responsibtli y which the
iiigiitiiisl v,.m which lie b. is been Honored ie
q tires h tn <o enctiutiter : and it being the duty
of one of th? ex-’ciHive departments to decide
!'■ in the first instance, subject to (he fu'.uie action
of Hie icjisl i ive power, whether the public dr
posites » i di re’u on in the b>nk of de) Uniie.i
S Hi s e r 1 lie end of its existence, or ba wiiii
, drawn s igh* time before, trie un 'ident has ft'!’.
■ httnsi ; )"1 to examine ihe q icstion cart Hilly
1 and |;bc aiely in order to m ’l;.* up his jndy-
• • i ject : ana in his opinion th
: near it ppi o ich of tin* termination of de* charter
mJ the public cons:de-a f ions hereto! >re me>.-
1 'Mie-d, a e of ilit rHselves am dv stiiij :ieti'. t<>
' jus'dv the renjova! of the ib'podtes witiimit re
r tereiice to he conduct of the bank, or their
o sab'ty in i s keeping.
B n in dm ’•omhict of ;he b ink m >v be fiiutid
• othe reasons very hnperative ii> their charac
> ter, ):• i which requi’i- t.’oiopt -action. D ve-
I *penien s have m-en made from time 'o time o'.
>, i’s'ii ; s’-ccss 4 public agent, its misappl.ca
i-■ lion of puLhc funds, its ia.c.fcvcnca m elec-
tiens, its eflm ls, by (be m tc’iiucry of ct inniit
lees, io dep< ive the m.wrmmm: 'iirecims oi a
ini, know ledge oi t;s concet ns, and above all, tls
lligraitt misconduct as n cenfiy mid unexpected
i Iv disclosed in placing ail ihc binds oi the bank,
hicluding the money <>( tin* govei injient, al the
disposition of (lie piesnlciH ol tiie bank as
' means of operating upon public opinion mid
i procuring a itcwclimier wiihoni requiring him
■to render a vmicher lor their disbm smneni. A
bi ief i reap,tin!.itton of the fids whicii jitsiily
‘tiies" charges mid which have come to (he
i knowiedge of (be public ami the p; emdenl, will,
lie thinks, remove every reasmiabk doubt as to
j tie course w hich it is now tiie duly oi the pre
j sidi'hflo pm stir.
We .have semi that in sixteen rmmihs, end
ting m Al iy. 1832. 'iie Bank iiau extemied ns
■ io ms more ilimt §2B,ooo.(Kit), 1 li High it knew
; :’m Governmem inmtiocd o rpp;opri ite mos:
.’s large deposits during that year iripiymeiil
•ifilm public debt. li. was in May, 1832, lino
! ns loans arrived at the maximum, ami m the ;
j preceding Al i'ch, s i smicii.de was the Bink
j that it would not be nble to p y over the pub- I
: lie deposi'C when it would be required by the i
. Government, that ii comm'need secret nego'i- '
; a.mu without the approbation or Knowledge ol |
.Oh (Liveriimeni, wtih tiie igenis, for abom i
- c.em. stocks mmi '
m Holl mi, will) a vo w of md'icing them io: 1
,o come fm w’ard for payment for one or more 1
■ yi' ifS after notice should be given by the Freas- i
ury D 'partnicm. 4'it:s mraiigenient would I
11-Ivo cm iblud (he iJ ini. to keep md use during
i (hat time the public money set apart im - tiie ;
, ; payment of these slocks,
• I Al tin' ibis n’egoiiaitoo hid commenced, the
:!S ! *creimy of ihe Treasury informed she Bma,
■ ; iha- n was his i.iiemimi to pay ofl’mie rad; of
■ h • liuee per cents on the first ol an. succeco-
; ! hi.' July, which anmaumd to aboi.U 590,000.
i i he President ofthe Bank, although ihe com
nitteeof mvosiigation, was then looking m o
’ ? its ifi’iirs al Philadelphia, came immedi i ely io
! W isiiing on, mid upon representing tnm the
; <5 mk was desirous of accommodating the nn
! pmlim.! merchants al Avew-Ym'k, vvifich i? f»r!-
■. ed to do, and undertaking io pay dm m.eresi
j itself, procured t'ne comsem oi the Sece ary,
! a fief consultation with dm President, topos,
i no te the payment tin al the succeeding first m
; October.
■ Conscious that at die end of .hat <pi .rlcr die
■ Bmk would not be able to pay >vw tiie depos
i ttey.md tn at furthe; tndulgenc'-pv as m»i to b* ex-
■ pec ed ot’ the Gavci iiun'ti , mi agem w*s dis
! pamiii'd to Eugl.imi secretly to uegocriii with
I he iiokleisid ihe public deb: in Europe, mid
induce them by the off", of mrr qua! or higher in
i l ies’ ilian tint paid by tiie Guvijrmueiii :o imld
bick heir cla.ms oneymi, during wbic.'i dm
B ni; xpt’Cte ; mas ’u rm an die use o §5,090,-
.009, of public .imm.-v wun ii In Gove um at
v.imdd set ap iri 10. die p lymem ol tint debt.
Ine ug.’Mii m.H.ie au arrangement on erm.-, m
’4> in, which were in direc; viol ition of he cii tr
ac.iorofihe B ink, amt when some im idc iis
; connecmd with mis secret ueg<> union accide j - i
dly came io 'mi krnnvUdge of the public and
. ilie G.svernm 'u ,Ui u-an I not before, so much '
i (d it a.s was pimnbiv iu vio'amm of tiie ciiarte: '
wo liisivmvc'i! vm> (die ni'U) of lie res: j
w s attempted witii the view oi gening (he cei - i
iiiiraics widioto p vim'Di of’ ;he m .a'iy. ami
i dius absolving the Government from hs iiabilitv 1
'toih ■ holdc's. 111 tins sch’me th< Bmk was !
■ p irii dlv succ'-sslul, but to this .lav lie car.id
eates of a portion of ibese stuck-iuve m>!. been
paid and die B itk let.mis die uso of die mo-
• nc...
f
1 :i:;> elint io mw irt the G ivernmen’ in the
P :ym’’iii o| ihe rm ilic debi, di >t 11 might retain ■
id • public mmay 10 tie us"d for their piivaio '
mt palliate.l l,y pretences uohh iously un- I
(~;m.. ‘ii ami insincere, w mid lim: jus’iiied !
.he ins- ini withdrawal ol tiie public d m isiies. 1
ri » t • • • 1.• ■ ......
Fbe iicgoiiation itself rendered d'mihtful die a- :
l.’ lity ol ihe B nk t-» meet the demum-b; ol the i
’i’ri’usiiiy, ami the inisrepiesrmations by whicii
ii wis aUi'inpleii io be justified, p'oved that no
reliance could be placed upon i’s .dlmpitions. |
If ihe question of a remov d of the doposilcs I
pri.'scnied itself tis me L , Lxccn’.ve in :hes iine at- '
■dude that it appeared before dm llotiso of:
lii-presen'.a ives at their I isi session, iheir re- '
S '! l ion in i elation to the safely of th ■ <1 mtisites j
v.’otii l be emitted to m ire weight, although the
dec; ion of the qm-siion of remov il has t
coiilyi.-J by inv io another department of the !
Government. But the qm.-stion now occurs, !
H!cml''d by other circumst inccs and new dis- ;
cl isuii soi iiic most serious import. Il is true
tliat in the message of the I'icsiJciii, wh.c.h
produced this mq i'cy and resoluiiou on th)’ part
j of rhe II mse o| llepresentalives, ii was his ob- !
iect to oly ain the aid of dial body in making a i
iliorougii examination into the conduct and con
dition liftin’ Brik am! its braucli.'s in ordi..-r to
enable the Exrcu'ive i)i:p >i .ment to dec.d<- ’
wbe her die public mm.ey wa> i mger safe iu it
ii anils. The limited power of de* Sec-a iv of'
tiro Ticastry over the subject, disabled him ’
from m iking the ie.vt s'igatioii as fully am! sat- :
isl’ai o'ily as it could be don-" b\ a conimitiue of
;i|»' House of Repiesc-ntaiives, and hence liie
President desiied the assistance of Congress to ;
; obt i:n for the rrea-ury !.)eparlmeml a full
knowledge of all the ficts vvhie'i were ne< ess a
ty to guide Ins judgment. Bat it was not his
purpose, as the I m;u <ge of his message will
shew, to ask the Itr’pre-.einadves of die people
to assume a rcspoiisibi'.ity winch did not In I hi.j
'o them, and relieve the L.xecuiive hr inch ol
■lie G’lver.inien', fiom die duty whii h dm i iw
had imposed upon it. i> due to ’tie Pietsi
i dent that his object in that proceeding should
be di'li'ic lv nmlerstood, ami that hr should ac
quit iiimself of all sn pinion <>f seeking >o escape
from di ’ perform nice of his own dmies. oi of
d<.-i: ii’..l m interpose tit’.other ho ly !r-”.v -en him
• 11 nd the people in order io avoid a me <-, irn
wliicit lie is called upon to meet. But al
•innigi', as an act of jns'icu to himself, ho dis-
.el <im inv des: jn of suitciting tlio opinion of liie
i I Hous;' of (leproson'atives in celadon to his own
• tdut’m--, in order to shelter nim,elf fioin rc-pou-
1 vjbilitv un Jer the siuc'i'mt of their counsel, yet
he at all I ini.-4 i e idy to listen to the sug
1 . lions ot the Represent -.lives of the peoj i-,
- wa’thri g v>‘ii v (lei:;’ii ily or upon soliritatii-n,
- tni t > cmis.der tiimn w.t'.i the promnml re
' . s .• ■ t to which ail w II '-Imit that they o'e j >■»'lv
- '-ot ’l' d. Whatever mty b - the cottscq m r-o;,
- j buwevur, to himself he mail na illy Im m ht u
- own judgement where the constitution and tho
l-.w im kcsH Ins duly to decide, ami must act
acco bmgly ; and he is bound .0 suppose th a
' such 1 course on ins pact will u.-ver be reg.nul
i co by dial < lev.iied body as a m irk of msre
' spi el to i:s( li : bu l ih.it tliev wdi, mi the <on
' nary, eSH'em it ihe strongest mideuce ue can
I 2i ve of his fixed resohiiion conscientiously to
' discharge his dmy to diem and the country.
j A oew suite "I liimgs has, however, arisen
'since tin: clo (i of the last session of Congress
and ( Vid 111:0 lias since been laid before die
' Pres.dent, which he is persuaded would h ivo
I'd tin' ll.aise of l{'*(>resentadves to a d-.fTorent
com ui-nm. it 1: h.m come to their knowled"'?,
I’ne f.i'ci ih:i». the Bmk controls, ami in some
cases s'jbsumd.iliy on-.is, and by i's money sup
ports so neol die leading presses of the count) v
iisiiow more clemly est tblished. Editms to
whom i< loaned extravagant sums in 1831, and
1.832, on unusual, tone and nominal security
b..ve since turned out to be insolvent, and to
■ o.lii i s apparently in no better condi'ion accom
i mod itio'i.'*. slill more extravagant, on idrms moro
I umisuai mid smne'tmes without any seertritv
! have also been heedlessly granted.
■ Fh*j tdlegaiiori which has circulated
I'lirmigh these chamicls ti)-’ lhe Treasury w,js
I bankrupt, and lhe Bank was sustainin'? it, when,
for many years ihete bis not been less, on ai»
jl everage, liran six millions of public, money ius
' mat insii'ution might tie passed over as a h irur
j less mistepreseriGiiioii ; bn when ii is miempt
i <:J, by siib-tauiial acts, to impar the credit of die
1 Guvci iinmm and tarnish ihe honor of di? coun
. try, such charges r'.’quire mo c *s ;i ms fitteri-
irnii. WiiJi six millions of public rri'- iev in jig
■ vauiiS, (for Having In d the use of !mm five
, ; twelve millions for time years, wimom. interest,
: H becomes die purchaser of a bill drawn by our
; Govetnineui on that of Fiance for about 909,-
■ 099 duliais, being the fr s’ instalment of lhe
j Fi’ rn.li indemnity. Fiio purchase money was
' left m die use of the B mk, being simply added’
Iro fie Fteastny deposite. Tiie B ink sold the
j bat in Engl md, md dm holder sent it to France
■ for coll'H.tion, and arrangements not having
' b"cn m ide b} 1 die French Government for its
p tvm mt it wis taken up by tho agents of the
B ik in Pu is wdli tiie funds of die Bank in
itrnfir bands. Umlei these citcmisfaiices it has
' iiiroti-h its organs openly assaib'd lhe cieditof
' lhe Goveriim' ril ; nJ has ;>c u illy made, and.
, r. is s in 1 demand o’, filreen per cent, or
§158,842,77 a.s dam ages, when no damage, or
Hmm imj -ml some niiliiig expense, has in f'ct
been sustfimed, and when the Bank ii id in iis
own possession <m deposite, several imilmtis of
■ die public mon v winch ii was then using fm its.
1 o .vi) profit. Isa fiscal agent io the Gow. ;u-
j moot, which dins seeks 'o enrich iisuii as iin>
‘expense of he jniblic, wortby of fmdior trust?
There are o.hor imom mt I cts m»’. io thx>
; contempi itioii of the House of Represent:!,.
; lives, or no*, kuoivu io d e me übrns at die tuna
! dmy ru ed for the resolution.
Although dm ch irler and the rules oi the
; Bank b'liti declare that “not less than seven di-
I recims” shall lie neccss oy to dm transaction
!of business, yet she most im.mrt-int business
> even Hi'l of granting discounts 10 any cxiem,
is entrusted to a committee of five mcmbArs
! who do nm repmt to the Board.
| To cut oli all urn ins of om mmic 1 tion with
die Government m (elation to its most impor
tant acts, al ilie commer.cmimm of ilie present
; yem , not one of lhe Gove: uniem 1> ectors was*
placed on any >me Committee. Ami although,
since, by »u unusual remodling of (hose bodies
some ol die Commit i<-es, they me yet entirely
: excluded from die Cmmnume of Exchange,.
I tlnongh which the greatesi and most objecliou
j able io us hive In a n made.
W iien the (»ovcrnnieni D lectors tnule an
1 eflorl io bring back lhe business of the B mk to
die Board, m obedience to dm ch o'er and iht*
existing regulations, the Board no: only over-
i ul'.-d their attempt, but altered the nil." so is to
in.iivo it coiiturm to die pr.ic ice, in direct viol •-
lion o| oim ol die most important provisions of
, the charter which gave them existence.
I’ has long been known th ir the President of
j ihe Bank, by Ins single will, originates and ex
, ecu’es many of the most impmiarit measures
i onneci' d with the nian.igement and cicdit of
'be l» ink and that the Gomnnttee, is well a«
; ini'. B < aid oi Director.', a: <• left in entire ignm—
jancf’id m iny acts done, ami cot i’ Spomlence
! carried on, m iheir n ones and apptmntly mi
dei their .minority. i'hi- fact Ims been recent-
I ■ disclo.ted, that an unlimited discretion lias
'men, and i > now, ves'e I in the President of dm
b i ;k to expend iis funds in p iymeii.’ for p.c
,paimg and <: ir< u I 111 ug all jc l< < and pi > r<- liasi ng
■ pamphlets and ncwsp ipi’ts, r.ricul Hr d by their
conten s Io opeia e on elections ami secure a
renewal of iis i-inrier. ft anpi'ars fom die of
li'-ial r -port ol the Pn'di-- Directors, di it, otjr
Im’ .>Ol.l N<>vcnibe;', J'iJO, the P es.dmi'. sub
miii'-d to tin Ba ird mi article published in dm
A nericmi Qa - ii’ilv R'.vnw, rionltiiniug favor
. abl." notices d :li ■ Bank, mid siigges'ed the ex
j P’-dmncy o[ giving it a w i i-icj. cuiat ion at tin*
expense of the Bank; wlmrenpon tho Bnitd
pus.-'id the following resolution, viz :
j “>/rrr/, That flic President l«; rmf'.iorisod to t’ke
' nidi in usur - in )'<■/ ii-d to Hi.- ’-.it-i'ul itiun of the ccmi
tenls of iin-said ni-ti’-Je. citlier ia wh l‘i or in part, us,
Im may deem lim it for the i'ltcrst of the Bank.”
B an entry tn tin. miiiu’es of the Bi<k, di
i ted .d n eb I I tn, 1 <S.’ 1, it appem s dial dm [‘res—
.'leu hid not only caused . t |edii'rm of
l ill article* to be issued, but' had also, Irnfmet'
the resolution <d 3(>'h November was adopted,
IHocured to be pinned and widely ciiculal-cd,
tnimerou, > <> >ms of Reports of (Jen. Srni Ii
arid Mr. M’D.dl’m in fiivor ol dm B ink. an I m*.
that day he suggested the expediency of ex'ea—
■ iog his power to (he printing of other ;;rticl'»
widen might subset vc I'm pm ji >xes of tho u.s't—
tiifiun. 'A Imreup m the following residuoua
w is adopted, viz ;
‘ /?<-.:n!r > 7. I hat tin t'l-'-i lent is lioraby an'
toc-vlii: I <i !>n prepared a.i 1 ciri;ul*icd, su -.h <]o< u-
UH'iil - and p eairs as m .y cmnumim; He Io th.-. ;>!e
i itoi'.oation in regaid tithe iiatureaiia onual i>i of
Ihe Bank. ‘ •
The expouditines purporting to h ive been
. made um|r*r the mn'noi i’y of 'bme trs >l-,iii:’n.4,
, iuritig die yenr IKdl ami 1832, vve r tf ' about
• ssO.OOO. I-or a por;ion of these e xpcmli ’), t s
vouchers 've.e r(!:pl)’i<•<!, from wliiiih it aiijmms |
, ’>ai they were im-.mred iidm p nch is •ol sopor
j that: bed '.ituusjud cup’e-j us ne'.vaj> q.'v. ■ reports
