Newspaper Page Text
JF*Be**f Stlfftll-
MR. CLAY’S PAPER MONEY RESOLIJ-
- TION.
To understand Mr. Clay’s lesoluiion to com
pel the Government to make a n tional curren.
cy out of local bank paper, it is necessary to
understand his character and objects. His
elm racier is always to appear as the author of
all the important events which are taking place,
an i now that some of the banks have resumed,
and all the solvent ones will resume in a lew
months, contrary to lira efforts and his predic
tions, lie is /orelaiming the honor of the event,
and to set up for its author, by bringing in a
resolution to aid them to do what they have al
ready done, and what the whole power of the
Piddle Bank cannot prevent them from doing.
This is his character. iiis obje t is to ruin
the curiency and the finances, in order to
compel the establishment ot a National Bank.
He knows very well that such a resolution as
he has introduced would ruin the currrency in
one year; that it would drive out the gold and
silver which has poured in upon us; tempt the
banks to over-issues; produce a new expan
sion and a new suspension, and then enable him
The orignal error of the Gov- j commence a new cry for a National Bank.
This is his object. Mr. Clay’s political fa e is
It is the duty ,,f the Federal Government to
liuiisc the specie which its policy hrs brought
into the country. The specie anives at the
feaperts, and a part of it has thence to be trans
ferred to the interior of the country, and to the
remote frontiers. Government payments will
effect ttiis diffus.on. Hard money payments lor
lands will occasion go|,: and silver to be carried
to the new S ates; specie payments to the army,
mii'it'n, volunteers, Inboreis, upon public works,
and Indians vviil diffuse it among tiie people.—
If not diffused, the specie now in the country
will be exported, or will go to the creation ol
new hanks, to flood the country again With pi*
per money, and to m ike another expansion fol
lowed by another explosion. The po.ioy i»»
Geiieiai Jackson was to use the specie when it
was brought: the effect of this resolution is to
prevent it from being used, am! todiiveit away.
His |x>licy was to suppress ai! bank notes under
twenty dollars, and to make gold and silver the
medium of payment for all sums under that
amount
This resolution is *o compel the repetition of j
flic error w hich lias aliemly been so often fatal
|o the country,
emment, in relation to the currency', was India
j.ensiug with specie, and resorting to tue use ol
paper. Gen. Han.ilion effected this, fi.st by
violating the act of IT"!), and next by estab
lishing a na'ional bank, with a charier tight to
pay its notes to the Government, and a de facto
right to pay them out. The Federal Govern,
tncnl having dispensed v. ith the specie standard,
all the States foliowtd the example. They all
dispensed with it. and substituted the paper of
their banks, in the payment of their revenues.
Thcv created banks, witn chartered privileges
to pay the State revenues in thtir paper; ol
'course the States had nothing else to pay out;
mill when the batiks stopped, the Government
stopp d, or took depreciated paper. W hat the
Government did the people were obliged t<< dm
All had to dispense with the specie standard,
nod b-take themselves to paper. I his total
dispensation of specie by the General Govern
ment, and the State Governments, left the coun
try bare of hard money, and produced the ca
tastrophes of 1814, and of 1813. Now for the
first time in fuitv years the Government is do
termined to avoid Gen. Hamilton’s error. I: is
determined not to dispense with specie. It is
determined to preserve the specie standard, and,
by doing so, to create a demand for it, and a
use for it, which will bring it in the country,
keep it in the country, and diffuse it over the
country. This resolution is to defeat that policy,
ltksto conquer thelni-t remaining advocate for
specie, & to inundate the whole Union with paper
money. The General Government conquered,
and the t iutnpli of the paper money party is
then complete. To this conquest all efforts are
now turned. The whole struggle of the Feder
al party has been to force paper money upon
the General Government. From this policy
they have never deviated from the lime ol Gen.
Hamilton to the present day; but all their ef
forts put together fall short of the revolting ef
fects of this desolating proposition.
The resolution proposes to make the notes of
900 hanks the currency of the General Gov-
ernment, and the mover of the resolution tells
you, at the same time, that all these banks will
Vail! that they cannot continue specie payments
if they begin! that nothing but a National Bank
can hol3 them up to specie payments, and that
ire ha w e no such bank. This ts the language
of the mover; it is the language, also, of all his
party; more than ihut. it is the language of Mr.
Biddle's 1< tt cr-tha; letter which is the true expo-
silion of the principles and policy' of the Opposi
tion party. Here then is a proposition to compel
the Administration, by law, togtve up ti c public
lands for the paper of the banks which are to
fail—to fill the Treasury with the paper of such
banks—and to pay out such paper to the public
creditors. This is the proposition, and it is noth
ing but another form of accomplishing what was
ttttempn-dInthiscliambcra few weeksngo,name
ly, a direct receipt of irredeemable paper mon
ey! That proposition was too naked and glar.
ing; it was too rank and starling; it was rebuk
ed and repulsed. !\ circuitous operation is now
to accomplish what was then mo rashly attempt,
ed by a direct movement. Receive the notes
of 9.t0 banks for the I aids and duties; these 900
banks will u>l fail again; so says the mover,
because there is no king bank to regulate them.
Wc have then lost our lands and revenues, and
filled our Treasury with irredeemable paper.
This is just the point aimed at by the original
proposition to reeieve irredeemable paper in the
first, instance: it ends in the reception of such
paper. If the resolution passes there will b'*
another explosion; for the receivability of th-se
notes for the public dues, and especially for the
public lands-, w ill run out another vast expansion
of the paper sy stem, to be followed, of course,
by another, gem ral explosion. The only wav
to save the banks is t > hold them down tospe.
cie payments. To do otherwise, and esp* ctally
to do what this resolution proposes, is to make
the Administration the instrument of its own
disgraee and degradation —’o make it join in
the ruin of the finances and the currency—in
surrenderor the national domain fl>r broken
bank paper—and producing a new cry for a
National Bank as the only remedy for evils it
has produc'd.
The motion bo ore tbe Senate is to refer the
resolution of the comi tec on Fiance. It ought
to be referred. It runs full oftoo many laws
and principles to be hurried on w ithout the usual
examination of n committee. ll not referred,
I shall be ri aJy for it here, come when it may.
I ask no time to prepare to encounter such a
proposition. It i-a mass of defimniity, iniquity,
and mischief. It goes to plunder the pulic lands,
to ruin the revenue, to defraud the public cred
itors, to involve the country in shame and disas
ter, to re-establish a Nation I Bank, and to per
petuate a paper money Government. It go s
to disgrace and destroy the Administration. It is
n rebuke to all who voted for the Independent
Treasnry bill, and a modest request to them that
will stultify themselves by voting for u proposi
tion standing in contradiction to e ery principle
which they voted for in that bi I. It goes lo
contradict every principle of General Jackson’s
bird money policy—that policy which lias receiv
ed the sauetiou of an immense majority of the
American people.
If referred, gentlemen may rest assured it will
be b ick time enough fir them. It is such a pro
position as ought to be discussed, and will bo
discussed. It is a proposition to fix the attention
of a continent. It goes to fundamental prin
ciples, and presents the fairest occasion for the
array of parties which lias yet been seen in
Congress. It is paper-money and bank Gov
ernment to the backbone; and, far from keep,
ing such a resolution in a committee to avoid
debate, 1 am lor bringington debate with all
due speed. I rejoice that such a proposition is
brought in, and shall make my thanks to all such
customers for all such favors. I mean to speak
to it when it comes back, and merely give it a
passing compliment as it now goes out.
iject
wrapp 'd up in the question of a National Bank
11 is political life is staked upon that issue. He
is fora National Bunk, and lie is for every tiling
that will lend to that obj< ct. For this purpose
he opposed the correction of the erroneous gold
standard in 1834. It was because the estab
lishment of a national gold currency would su-
peisede the demand for a National Bank paper
eiiTeticy. For this purpose be abused tire
State banks at the veto session, and panic ses
sion, and did all in his power to create runs up.
on them, and >o break them; fir this purpose he
has opposed all measures to terminate th • reign
of shin.plasters and depreciated bank paper;
for this purpose he proposed a few weeks ago
to make irredeemable paper the currency of
the General Government, to be paid in and
paid out by it; for this purpose he has suppnitod
all measures for forcing paper money upon the
Government; and for this purpose he lias now
brought forward a resolution to make tlie notes
of all the banks in the United States the medi
um of all payments to and from the public Trea
sury. In all this he has but one object—and
that object is, to keep the finances and the cur
rency in a state of disorder and ruin until the
people, worn out with such a s ate of tilings,
shall give up, and take refuge in a National
Bank- Never did an old dowager duchess of
the Fauxboiirg St. Germain sigh for the re
turn of the old Bourbons more than Mr. Clay
sghs for the restorat'on of his dear adored, lost
National Bank!
One thing ought to escape no one’s attention,
and that is, that Mr. Clay himself and all Ids
supporters sav that tlie local banks will all fail
again; that the resumption cannot last; that all
that resume will stop again in a few months;
arid now, lei it be remembered, he is proposing
in his resolution to exchange till the public lands
for the paper of these hanks which he tells yon
are to fail again! He is for receiving the paper
of all these b- nks for all deb's, dues, and taxes
to the Government! for leaving the Government
no alternative but to take paper money ad injin-
iiiun! He is for paying out the paper of all
these bunks in discharge of all demands upon
the public Treasury! And he is for doing all
this while declaring that these banks will a!',
fdl again! What is this but an open request
to the Administration to ruin the finances and
the currency, and to disgrace itself, for the pur
pose of enabling him to sav, "I told you so; you
can never tret on without a National Iiun!:; these
Stare Bunks have Jail, d again, as I told you
they would."
We repeat, let no one forget that Mr. Clay
ts openly, publicly, perseveringly proclaiming
another failure of tbe State banks while in the
very act of endeavoring to make their paper
the currency of the Federal Government!!!
Globe.
From the Kentucky and Ohio Journal.
CLAY AND Hid CABINET!!
We extract the following from ti:; Washing
ton correspondence o. the '■•Ohio Statesman.”—
What will the friends of general Harrison say t<>
this? It is a burning shame, so it is. for the friends
of Clay and Webster an Adams, to treat the
old gentleman so scurvily. They might let him
have it four years as he generously offered to be
content with so short a term, so they might!—
But, they won't, we aie sure they won’t! hard
hearted knaves. Well, well, it only proves
what the general has experienced before in re-
latum to his military services, that republics aie
ungrateful. Ami then, General Jackson, made
the Whigs and Federalists such ail excellent
president 1 \ve wonder they tire disinclined to try
another hero! What do :s our young friend C *
who some ton ■ ago elaborated so prettily on
Riont of lhe condition of things there,
wh'eb most powerfully exhibits the differ
ence between the bankruptcy of planters
and of.merchants. The Mississippi plan*-
ters are torn up by the roots—their families
scattered—their horses, and other mean's
of making a crop, borne off by the sheriff;
and their lands, and every household com
fort, all swallowed up by confiscating law
suits. The Josephs, and such like, fail
in Wall street; they close tlit**r doors; their
money dealing is all covered up m the
his romantic “serifs” of western presidents, (be-j mystery of the credit system; they pay
ginning with Tippecanoe) think of this airy cas- their creditors for millions, with some
shillings in the pound, sinking a handsome
Fr>m the. Washington Globe 11 th inst. jjured note-holder who could not get his
OPPRESSION °IN MISSISSIPPI. ! promised*money on the bank note. But
A letter from a gentleman of high stun- this solemn charter obligation, made a part
ding (connected with the courts in Mssis- j of the very being of the banks, was re-
sippi) gives a simple matter-of-fact state- pealed by Mr. Clay’s friends at the last
session, and the contract in behalf of the
community annulled!
State Rights and United Slates’ Rights.
TIIE
WHO ARE THE ENEMIES OF
ST A t E 1NSTITUTIONS.
It will he remembered that the Express of
New York, nt the threshold of the suspension,
threa'ened warfare on the State banks, unless
they went for a National Bank. Now that
they begin to resume, and are in this way work
ing against the National Bank pokey, all the
Siat<‘institutions are reproached with the mis
chiefs produced by those entering in'o the Fed-
eral policy of a general and continued derange
ment. We endeavored in the beginning'm ar
rest the malversation of the bank, Now that
they mend, we leave the etiastisement of the
Wrong doers (o rite hands ol tiieir tempters.—
The Sylvester Reporter, (which the Detroit Fret
Press quotes nsa'IFArg paper”) illustrating
'.lie beauties of Federal legislation in Whig.rid
den Massachuseltss .says:
It is not strange that such fierce warfare is
waged against all banks, when, bv the gross
mismanagement of sone, the people are compel
led to bear the loss of millions; indeed it would
be more marvellous were it otherwise.
We have taken the pains to collect the prin
cipal items of loss which i as fallen upon the
public by reason of the recent bank failures at
the East, wpicli wc sum op as follows:
American Bank, Boston, circulation, $’2')0.009
lie now! Or what dot s our worthy fiiend G * *
* * think ofliia mission to England? And how
we do sympathise with ‘Judas of Springdale!”
How cruel to blight his young hopes so soon!—
But do tell us what office he expected. He is,
v. e believe, a clever man, but a most unfortunate
politician.
Observe! the Congressional caucus ticket be
low is imperfect. It 11 ants- a Secretary at War.
Now mark if ihev do not intend to insult the he
ro of Tippecanoe bv offering him that bureau.—
They have bought off Webster with the pre-
tmorship—but we gutss they will find that he-
roes are not mad of such penetrable stuff? But
only think of their audacity to nominate Nicbo-
las Cottoning* lor S; dietary of the Treasury.—
And tiie magnanimous Mr. draw's of Kentuc
ky, it seems, is chairman oftheir executive com
mittee. This gladiator is to work the wires.—
Where, pruv, is the gentleman whom he so late
ly whitewashed? \v! ere is gentleman Webb, and
what part is he to enact? They ought not to be
separated—such loving friends!! And where
is the notorious "Spy?” the wot thy biographer
of Burr—the slanderer of Jefferson? He, it
spcins, is to he put tit the head of the government
press—Gales and Seaton have become obselete
—mere "milk and if’.Ur!” They do not suit
the times nor th ; dramatic corps. Davis the
“spy” will suit them better and there is a con-
gruiiy and fitness in all tilings.
If it were not for the outrageous injustice that
this arrangement does to—whose heart seems
set upon the white house, (and it is such a pity
to disappoint him after running s<* well before) ! l }l0t
we should not be much displeased at the result
ofthis caucus. We now undeistnn I (seeing Mr.
Preston’s name) the combination between Clav
commission in their pockets on every debt
they discharge, by half or quarter pay
ment; in tbe mean time, living in afflu
ence, and saving a snug capital for a fresh
start after the pressure in the money mar
ket has passed. Such is the indulgence of
merchant creditors to each other. What
a contrast such mercantile failures make
with the gloomy picture presented in
Mississippi, the consequence of bank ex
pansions and explosions!
Extract from a letter lo a member of Con
gress from a friend in Mississippi.
“ The times are Indy alarming here. Many
plantation-, arc entirely stripped of negroes and
horses htj the marshal or sheriff; and to add lo
our other difficulties, our bank paper is getting . .
worse m r if Jay. Wc cannot git. plantation ” r ,lic support of the Democratic Repub-
rn doable New Orleans ,l 1 cans ot the State ol Georgia, at the next
“’Tis the star-spangled banner, oh, long nia> it wave,
O’ertheland ofthe free and the home of the brave,**
FEDERAL UNION.
MH.LEDGEVIL.LIt, MAY 22, 1838.
Union Deniociatic Republican Ticket,
FOR concress.
«. C. CAMPBELL E-<q <f li,bb,
(JEX. 15. GRAVES of Newton.
JUNIUS 1I1LLYER Esq. of Clark,
IION. ALFRED IVERSON of Muscogee,
HR. J. G. MnVllOKTER of Richmond,
GUN. CHARLES II. NELSON of Cherokee,
ROBERT U. POOLER of Chatham,
COL. J. S. PATTERSON of Early,
IION. II1RAM WARNER of Meriwether.
Above, we give the ticket nominated by
the kite Convention of the Union party,
supplies Jar less than
prices, with our money. IS nits are multiply
ing—two thousand five hundr d in the United
Stales Circuit Court, and three thousand
eight hundred in Hauls County Court. Sil
ver is demanded, an l our citizens threaten vi
olence and bloodshed. We ate in a bad situ
ation. The Union Bank is just going into
operation, and much is xpected. from it. in
paying off mir foreign ebbt. Whether it can
answer public expectation, time alone can
but I far it cannot. The hoard are
prudent, and will not endanger the credit of
the State.”
These lew lines sum up the history of
and Wcbs'er in the debate upon the Independent bank abuses. In 181.9, in IS25, and
Commercial,
Fulton, “
Kilby, “
Lafayette, “
Franklin, “
Commonwealth, “
Middlesex, Cambridge
200,090
200,000
200,000
200,000
200.000
200,090
150,000
$1,550,000
Test of Credit.—The Indianapolis Journal
tells an anecdote of a merchant, who being re
quired to credit a certain trailer with a large
amount «>f goods wailed on the editor, and ask
ed il his intendi'd customer was a subscriber,
and if lie paid up correctly. On proof being
given in the affirmative, the merchant s'.ateJ
Total, circulation,
To which, add United States de-
posites in Commonwealth
Do. in Middlesex
Individual deposites, about
Stockholders’ loss
And we have a grand total bv these eight
banks of $8,3.'0,000! Some small part of this
amount may eventually be realized by the hol
ders t>f the no'es and s'oek of" these concerns,
but tee look upon the whole as a total loss.—lb.
550,000
50,000
3,000,000
3,400,000
Democracy is for the many: Federalism is for
the few.
Democracy is for the poor as well ns the rich:
Federalism is for the ricli vs. the poor.
Democracy is for equal rights: Federalism
is for vesting the right of suffrage in the posses
sion of property.
Democracy is for early naturalization: Fede-
rnlisin is for requiring twenty-five years resi
dence previously.
Democracy is for no distinction hut that of in-
tellectual or moral merit: Federalism would
draw an impassible line of demarkation between
wealth and poverty.
Democracy would elevate the people: Fede
ralism would put the iron foot of despotism upon
their necks.
nomocracy is for universal toleration of
religious opinion: Federalism is for sectarian
ism.
All these positions we are ready to prove.—
To our opponents we throw down the glove,
and dare them lo take it up.”—Natchez Free
Trader.
Goon Policy.— A premium of two cents per
pound is offered by the Legislature of Michigan,
°r all Beet Sugar manufactured in the State, and
that though he had many references he prefer- the Legislature of Pennsylvania has passed a
red tiiis test, convinced that whatever iriends
might think, no man was so deserving credit as
he who ‘paid tiie printer.’
Fire.—On Friday the 11th inst., a fire
occurred at New York, which consumed
over twenty houses, anti turned out of
bouse and home more than fifty families.
law allowing a reward of twenty conts on every
pound of Cocoons raised in that Slate.
We have known some men to become actual
ly poor bv simply quitting wotk and crying hard
times. But then.’are other instances on record
where men have acquired quite a competency by
minding their own business, and coming in when
it rained.
Treasury bill to destroy Mr. Calhoun. And we
understand, too, why Mr. Biddle is opposed to
the resumption of specie payments.
“The supporters of Mr. Clav for iho Presi
dency, are so dissatisfied with tiie milk-and iva-
ter course, as they- call it, of the National In.
telligcncer, that they arc determined no longer
to postpone the publication of a new and more
zealous organ. Tito money, or as much as
may be supposed necessary, is now in bank, an I
the only obstacle in. me wav is the procuring of
a competent editor. Prentice refused lung since.
It was offered to Webb, but tiie general detesta-
tton in which he is held for his late conduct, has
rendered him no longer available. Davis, the
notoiions “Spy in Washington,” at present holds
the tender of the office, and his assent is expect
ed. He is not only in the confidence of the
party, but is constantly seen walking “cheek hy
jowl,” arm in a:m, with Mr. Clay himself.
“The who’c campaign is to be conducted, in
chief, by a congressional caucus, the executive
committee uf which is composed of Mr. Graves
of Kentucky, Mr. Phillips of Massachusetts, and
Mr. Curtis of New York. 'The last new ticket
which is lying before me in print, and is being
franked throughout the country, to safe persons,
is ns follows: '
Fon President of TifF. IT. S.
HENRY CLAY, of KENTUCKY.
For Vick President,
WiLLlAM C. PRESTON, of S. C.
For Secretary of the Treasury,
NICHOLAS BIDDLE.
For Secretary of State,
DANIEL WEBSTER.
For Secretary of tue Navy,
SAMUEL L. SOUTHARD.
Postmaster General.
THOMAS EWING, of OHIO.
“If 1 am not mistaken, in rny first letter !o you
last winter, it was mentioned that such a ticket
as that of Clay and Presit n was in agitation.—
It was printed at one ofthe offices in this District
yesterday, for the first time, and is being frank
ed confidentialy to discreet & proper persons in
a 1 [ arts < I the country. Sliou’d the responses
be favorable, the now paper will hois! the coal-
esce l flag—tariff and anti-tariff, latitudinarian
and strict construction, Northern manufacturers
and Southern interests, batik and .anti.hard;, sla
very and abolition, 'Texas and anti-Texas, <fcc.
&c. Clay now considers himself secure both
o! the West and North, having jostled Harrison
and bullied off Webster, all he wants is to cre
ate a disaffection in the South, and th> n success
is certain. "Sous verrons,” as friend il. savs.
P.”'
That some notion may be formed of the sort
of man the Whigs have elected in New York
as Mayor, we give the annexed extracts from
an official document of his. Let all ADOPT
ED CITIZENS bear in mind, that this same
Mayor Clark is a good specimen of what Whig,
ism is throughout the whole country. Our RE
GISTRY LAW was conceived by the same-
party and in the same spirit that perpetrated
the following abusive libel on Foreigners who
come to our shores for the enjoyment of free
dom and the blessings guarantied to the oppres
sed of every land who make this their adopted
country.—Bait. Rep.
The Beauties of Clark.—Europe sends its
FAMISHING HORDES to our city. Tra
ders in FOREIGN PAUPERS land them at
Amboy. They cannot fail to bo an INTOL
ERABLE BURTHEN toils. They can he
viewed, of course, with NO very ardent SY'M-
PATHY. They "til brimr DISEASE among
us, and may GENERATE A PLAGUE by
collecting in FOl! L IlOY ELS, filling our coun
try with SQUALID POVERTY and PROF
LIGACY 7 . This land mu^t not be made the
common resort and general residence of the
DRONES. L \ZZ A RON 1, CON "PI 11A TORS,
AGRARIANS, REVOLUTIONARY IN-
CENDi ARIES, and FUGITIVES FROM
J US’TICEof various parts of the OLD WORLD.
The influx of these NEEDY EMIGRANTS
deprive COLORED PEOPLE o! patronage.
Idle, vude pauper emigrants!! Charity, place,
and employment cannot be conceded to A LI KNS,
ulithout great indignity to OUR citizens. This
officious interference by mischievous strangers;
the mad career of some of these foreigners,
these wild strangers, will call upon the Common
Council to provide an armed and mounted
police for both the day and the night time.—
Selected from Aaron Clark's edict, dated May.
or’s Office, June 5, 1837.
Thomas Bradford, Esq. successor to Doctor
Franklin, and the oldest Printer and Editor in
the Union, died on the 7th inst. at Philadelphia,
in the ninety fourth year of his ago.
The Nashville Whig states that ex-Governor’
Runnels has been appointed president of the U-
nion Bank of Mississippi, with a salary of S10,-
000 a year, and Col. Samuel Gwinn, cashier,
with a like salary.
1836-37, the Bank of the United States
set the spirit of .speculation on fire. The
twenty million impulse which the Great
Regulator gave to the State hanks at the
moment it pretended it was about to close
its concerns, has wrought an immense ruin.
The State Banks were the more easily in
duced to pursue the carreer of money ma
king to which this example invited, as
they suppose the giant was about to ex
pire, and leave the harvest an inheritance
to them. How fatally has this hope been
blighted. The crops of Mississippi, the
business of the State Banks, and mer
chants, have till fallen into a sort of mort
main. The dead notes of the old bank
have usurped the office of the issues ol
the Mississippi hanks, and they will no
longer buy commodities in the markets of
New (Means, or pay debts at home. Near
ly 7000 suits are brought to the courts sk
iing iu llinds county, and for millions!!—
not of paper, hat of gold and silver. These
debts were made when paper currency,
I cheapened by tin extraordinary expan
sion, was the criterion of value. They
are now demanded in gold and silver,
when the extinction ofthe paper, as a len
der for debts, has doubled the value of
currency, cheapened staples in an equal
proportion, and absolutely destroyed all
dem and for real property, making it a.
sacrifice at the will of creditors. The
banks, for the most part, are these credi
tors, and now they will swallow up ihe
real and personal properly of borrowers,
to enrich iff’ stockholders and usurers,
busy in shaving their notes.
And yet the banks ask relief, and get
time from the Government, while—ri we
may judge from the innumerable suits
brought—they give no time to their debt
ors. They are strong enough to set aside
the law, and hold off their creditors, hut
they drag down theirdebtors in the courts
ot law. 'j’he scene in Mississippi isbuta
repetition of that enacted by the Bank of
the United States in Kentucky in 1819.
The Legislature attempted to give the
people relief by replevin laws. All that
the people wanted was time to exert their
industry, and bring back prosperity by
means growing out of their soil. The
usurers, their creditors, would have their
bonds cancelled when property was sunk
to one-tent!) of its value compared with
the period when the debts were incurred;
and when cancelled hy property at such
prices, the debt was, in fact, paid ten
times over. This is the consequence of
bank distension and compression. The
man who agrees to pay so many dollars
at a fixed period, in paying the nominal
sum may, in fact, pay ten times the a-
mount in value, by the unanticipated ap
preciation in the currency.
In Kentucky, the attempt to obviate this
injustice by giving time to the debtor, on
his furnishing adequate security, was set
aside bv the court as a violation of the
obligation of contracts. This was done in
favor of the United States Bank party in
Kentucky, with Mr Clay- at its head: he
appearing himselfas its attorney in all
its suits, and suing in his own name the
Bttnk of Kentucky, during its suspension,
for ten thousand dollars in a single case,
and forcing it to sacrifice its debtors to bis
rapacity by surrendering their notes, giv
en during the expansion, to be turned into
ingots of gold. In this process, tbe best
esta’cs were melted down to pay a debt
which a single year’s product would have
sufficed to satisfy inordinary times.
Mr. Clay and his Shylock friends (the
Bank and others) preached up principle
and a Acred regard for the Constitution, as
rendering necessary the abrogation of the
relief laws. Patient endurance of the ut
most rigor was the lesson taught to the
victims of bank temptation iu Kentucky
then, as it is now in Mississippi.
But bow is it now in Kentucky, where
the banks want relief? Mr. Clay’s friends
in the last Legislature forgot the Consti
tution and the obligation of contracts, for
the sake of the hanks. By their charters,
the banks failing to redeem their notes in
specie were bound to pay at the rate of
twelve per cent, per annum, as interest,
on all sums demanded on notes and not
paid. This was their stipulation in con
sideration of their privileges.. This was
the agreed indemnity to be paid to the in
election. We shall publish their accept
ance or refusal to run, so soon as their an
swers to the communications of (he com
mittee appointed for the purpose, is re
ceived.
We shall not, by urging “our devil” to
invidious comparisons of the candidates
of our opponents, imitate the disrespectful
course pursued by some of our cotempo
raries. “Strange things will happen in
disjointed times.” To our enquiries cor\
cerning the different candidates of the
Nullificiition-Bank-Aristocratic party, our
“devil” replies, that it is true and well
said by one in the West, “when the caul
dron is boiling, feathers are apt to swim
as the gold of ophir, and rather apter;”
and when contrasted with bone and sin
ew, there is no telling the difference
between straight forward, independent
politicians, and such as are Bank and anti-
Bank, Democratic and anti-Demrnocrat-
ie, Aristocratic & anti-Aristocratic in their
principles: neit her one thing or another—a
streak of loan and a streak of fat—neither
middling or whole hog. That their ticket
is neither tolerable ot intolerable, Federal
ist or Republican, like or sorter like, but
variagated or miserable.
The voters of Georgia will deeidr for
themselves on the first Monday in Octo
ber next, and we have no fears lhat they
will choose the ticket of the Nullifiers,
made up of candidates entertaining and
advocating the principles of all parties,
Bank and anti-Bank, Whig and anti-
Whig, in preference to those who are uni
ted in support of the constitutional rights
of the people, and opposed to Bank and
all other aristocratic monopolies.
TIIK WHIGS AND FEDER AGISTS.
These two political parties are now so
nearly allied, that it is difficult to draw
the distinction between them. They are
all Whigs; and thev may be said to be
all Federalists, if their political course may
he taken as the evidences of their creed.—
And thev are beginning to appear more
distinctly united, and more and more open
in their advocacy and support of the
movements of the Abolitionist against ihe
constitutional rights of the South. All
these parties, Federal, Whig and Aboli
tionist, . c ee_m to be united in common
pause against the measures of the present
Administration. Every ifrv brings some
new evidence of their connection 2nd pol
icy against the Government, and against
the liberties of the people and rights of
the South.
On everv question before Congress,
thev endeavor to make political speeches,
affecting the policy and denouncing the
measures of the Administration for (lie
best interest of the Union and maintaining
the constitutional liberties ofthe people.
Mr. Clav, who carries his tariff*princi
ples into the land of extravagance, and
who is to be their candidate for die next
presidency, in his speeches of political
trimming, has made his spring more than
halfway in the stipporuofthe Abolitiona
ry projects. He is the open and zealous
champion of the Bank of the* United
Idle he endeavors to hide his
rious on paper, but hardly ever at the. bal
lot box.”
The Salem (Mass.) Advertiser, makes
this appropriate illustration and remark in
relation to the great Whig part}'.
“Wlien the British, several years ago. sent an Ambassador
to the King ot Siam, ihe Englishman addressed the Sia
mese jtlonarrli w ith the usual forms of politeness ; 'but his
interpreter, in translating the speech, added lo it the most
fulsome and outrageous flatteries, ratling the King son of
the sun. brother of the moon, lather of the stars &c., and
telling him George ihe 1 bird had spnt one of les servants lo
kiss his Maj-siy’s golden feel. Y ou sroinidrel! said the
ambassador, why do you tell him such thundering lies in
my name? The answer of the interpreter is worth re-
roemhoring—it was—"Our King Jives, net hy meal and
drink, but by having great lies told lo him”!! ‘litis is
very much the case with the great Whig Party—it is like
the Great King of Siam—it lives hy having great lies
told to it. It does not live by truth and argument, if it could
not live without tWAn it would have been dead long ago.”
Let the South beware bow they confide
their destiny to the protection and policy
ofthe great Whig part}-. We are led to
these temarks, from the perusal ofthe fid-
lowing able article which is taken from
the Washington City Chronicle, a States
right paper, but a press which, in the ex
ercise of candor and a spirit truly com
mendable, presents the facts as they are,
and as the records prove them to be, in
relation to t lie Abolitionists being opposed
to the Administration, and which adminis
ters to our neighbor the Recorder, a
clear and manly admonition against its at
tack upon the Democratic party as con
nected with the fanatics either in princi
ple, party, or in action.
“LET FACTS SPEAK!—The South
ern Recorder, published at Milledgeville,
Ga., manifests a disposition to defend the
Nationals against t lie charge of consorting
with the Abolitionists. This does not
surprise us. We have anticipated this
from the first; and among the most insup
erable objections to the elevation of any
National leader to the Presidency is this;
that his party will most surely prove dan
gerous to the South, as it will be neces
sary, in order to secure bis elevation, to
temporize, and to compromise and whit
tle away the rights of the South. We
have warned the South against the conse
quences of entering into the presiden
tial canvass as the advocate of any Na-
ti mat candidate. We know it must lead
to evil. It will lower the lone of public
sentiment in regard to a question of para
mount interest to the South, if it do not in
fact raise up an open abolition party in
our own borders. We already see the
indications of this in many quarters. Some
we have noticed before, and we add to the
number the following extract from a lead
ing editorial article in the Recorder:
“Now we ask, who lias been considered, in
the Senate ofthe United States, during the pres
ent session, by way o! distinction, the champion
of the Aboiitioni-ts? YVho introduced before
tbit! bod\, the most iticen liary mailer ever pre
sented to it? We answer, Mj>. Morris, the Sen
ator of Ohio, one of the warmest partizans of
Mr. Van Buren, and who was but a week or
two ago complimented in the most flattering
terms of eulogy, bv tbe administration press
at Washington, the Globe. The last we hear
of this flatten d pnrtizan of the administration,
was Its calling ui> ft is resolution in the Senate,
“to in-truct the.Committee on tbe Judiciary to
enquire whether the present laws against the
slave trade, were not applicable to the tr.ale in
slaves carried on between two States.” Upon
the motion to lay this most inflammatory reso
lution on tbe table, the yeas and nays were cal
led, and 22 were found opposed to it, while Mr.
Morris laid only eight lo back him, and of these
eyht we believe the ultra administration men,
Nib's of Connecticut and McKean of Pennsyl
vania, were two.
“Thus it seems, if wc are to judge by facts,
nt least sortie of the warmest supporters of Mr.
Van Buren are dispos-d to show their friend
ship f. r our special institutions; by declaring
lhat to sell negroes to the c itizens of another
State is a' violation of the laws regulating the
slave trade, and of course is piracy by law.—
Ttiis is fins friendship.”
“Here is a plain and obvious attempt
to reconcile the South to the course of the
Nationals, by charging the spirit of aboli
tionism on the friends of Mr. N an Buren.
The editor does not censure the one, but
labors only lo show that the other is also
guilty. Is this acting as becomes a South
ern print on litis most vital question?—
Who cares whether the danger comes
from the one or the other? Is that the
question? -If one side defends the Na
tionals by showing that the administration
party is not. guiltless, and the other as it
might rightfully do, avails itself ot the
same mode of defence, what becomes of
the rights and interests of the,people!—
Are they to be made victims at all events.''
Is it. the object to show (hem that they
must be ruined, no matter which party
succeeds? We humbly think it would
(tetter become the conductors of Southern
presses to place the interest and safety
of the Southern people above all consid
erations connected with the triumph ot
either party.
“This conclusion is based on the worst
view of the matter—on the supposition
THE WESTERN BANK OF GEORGIA
Ihe Augusta Chron.de and Sentmel
of the 19th inst. says : 1
.J V «T 1 £ rS,am i ,hal nnen, lor*era«il on t!, e Wav Rill -1
the Mail Stage fro.-n Col,.ral,received on IWu*
morning at tin* place, states lhat the Western Bark „?[•*! r
gin, at Lome, had closed its door*. K t ’* w '
The manner in which this statement i*
obtained is sufficient to satisfy every rea
der that the object of the person making
the entry on the Way Biff was either t»
speculate on the holders of the Billsorto
gratify his inimical feelings toward th*
Institution—and its publication if not il
liberal is calculated unnecessarily ( 0 ei
cite a greater want of confidence i n t j ~
mmd of the people as to to tbe solvency
ofthe Bank. We see no reason for
attempt improperly to affect further di£
trust as to the Bills of the Rome Bank
Its condition and resources we should* sar
are as good as those of the Banks that re
fuse it credit. And we again admonish
the holders of its Bills not to part with
them for less titan their full amount.
The President ofthis Institution passed
through this City on the 19th instant, for
Charleston; from his statement the Bank
isopen and doing business, and redeeming
its bills when presented. Those who
called on him here and requested it, were
paid other money for their Rome money
at par.
The Milledgeville Banks, as we pre
sume did all the Banks in the State, closed
doors on yesterday, and opened again to
day. And we have no doubt they are
now more able to redeem tiieir hills* than
they would he if they had not been closed..
RESUMPTION OF SPECIE PAYMENTS!!!
The United States Bank of Pennsylva
nia, (Nick Biddle’s Bank) HAS RESUM
ED SPECIE PAYMENTS!
Ihe Philadelphia Messenger, of the
9tIt instflnt, says, “on Saturday last, at the
Bank of the United States, all demands
and balances under one dollar were paid in
SPECIE!”
Wonder if this institution won’t icon *
pursue the course adopted by one of our
banks in the settlement of small demands. .
We leant that a bank of this city, to -
accommodate the people with change, pays
its small notes in Shin Plasters or llail
Road Tickets!!
States, while he endeavors to
head, under the pretence, that he is anti- i that both parties are equally obnoxious to
Abolitionist, and advocates the bank poli- ; the charge of abolitionism. But is it so?
cy only as the best method of ridding the j No: it is not the fact; and we speak it in
Government of the Sub-Treasury experi- justice to the administration party, with
ment.
The fact is, the whole policy of the
Whigs and Federalists shows that they
tiro willing to keep their partizans togeth
er by- a show of opposition to the Admin
istration and its measures to preserve the
rights ofthe South, so that at the close of
the contest, Mr. Clay may enter the field
with a strong party in his support, Irom
the Bunk paiiy and the Abolitionist,
whose strength, it is not to be disguised,
though not commensurate with the enor
mity of their fiendish designs upon the
the peace ofthe country, is evidently in
creasing, and whose inffuence the Whigs
and Federalists at the North, openly es
pouse. Some of our political opponents
tit the South, whose feelings, opinions and
interest we know to be directly in oppo
sition to them, to our astonishment, seem
disposed to countenance, their move
ments, not from principle, but for party
efieet.
The interest and safely of the South is a
a matter of deeper consideration than the
victories of any party; and it is to be regret
ted that those ofthe South, who, we know
to be devoted in spirit and interest to the
rights of the South, should, from any con
sideration, affect to rejoice over the victo
ries of the Whigs and Federalists, or in
any wise lend themselves in their sup
port, whilst their triumphs are from the
strength acquired of the Abolitionist, their
immediate-allies, in opposition to the Ad
ministration and its measures. “Whig
victories'a re always rotten before they are
ripe, and Whig papers always prophecy-
ing wrong about elections:—always viclo-
whorn we have no connexion. The truth
compels us to say as much; and in sup
port of the assertion, we appeal to the
facts spread on the records of the country.
"Let facts speak for themselves,” say's the
Recorder; and yet it suppresses every
important fat t! Why has it kept from pub
lic view the votes in Congress during the
session? We have spread them before
the public, and showed who were and
who were not our Iriends. Why are the
proceedings of the Legislatures ol Ver
mont, New York, and Massachusetts, kept
concealed? Why are the documents pub
lished in New Hampshire, to show the
union of the Nationals and Abolitionists,
suppressed? In short, why are all the facts
kept out ofthe view of the Southern peo
ple which would enable them to judge
justly and wisely in the matter? We
know why these things are so; and, there-
tbre, we deprecate the organization of a
National party' in the South.
“And what are the mighty facts addu
ced by the Recorder, which are to “speak
for themselves?” Why, that Mr. Morris is
a Van Buren man, and an abolitionist;
and, as is supposed, may be a candidate
for Governor of Ohio! Besides, Mr. Mc
Kean of Pennsylvania, is an “ultra ad
ministration man!” The honest Senator
will doubtless laugh at this classification;
or otherwise, like the perplexed countrv.
man, who waked up on his journey j a n f j
found his wagon converted into a r dr t ) w ill
exclaim—“Am I Jacob, or am J not!” And
these are the facts. We cannnl permit
ourselves to speak further. We a^aip
tell the South to BEWARE! ®
SI 3 TREASURY DRAFTS.
The numerous and incredible impost-!-
lions that are attempted to be practised
upon the community, and the great diffi-
eulty of obtaining correct infortnatioa bV
the people, in relating to these drafts,
makes it important that a short statement :
should be made as to their nature, ant! the
Sub Treasury bill recommended bv tho
Administration. The Treasury notes
were authorized by an act of the extra
session, to be issued by the Government, .
in payment of the public dues, twelve
months afterdate,, and bearing interest at
two and five per cent, which tire to be re
deemed by the Government, and are re
ceived into the Treasury for debts due to
tlie Government, and when redeemed are
not to be again issued. Thus, in the ab
sence ofgold and silver, which could not
be obtained, and on the refusal of the de
posit banks and other debtors to the Gov
ernment to pay their dues, the Govern
ment pays its dues, & places in the hands
ot thehtr!der ol those drafts, a currency not
dependent upon bttnk suspensions or r»-
sumptioas, but good against the United
States, and redeemable in the constitution
al currency of the country with interest*
from their date.
, SUB-TREASURY BILL.
“The {urj'ort of this m< asure of the General
Government simply is, that, as at present the
olricers u! the Government who collect the pub
lic revenue shall pay ii over, on drafts from the
ptoper aiiliorit v, directly t*> the public creditor
without tie intervention of banks. Far! of the
lime Intlnjrto banks were used as intervening a-
gents bi'tveen the codeclor and the creditor; that
is, to pet brm a duly which the collectors could
just as CLsily do themselves. The collectors
were reqtired to deposiie their money in bank,
and thus.* having claims against the Govern
ment, wa'il get for their pay a draft on a hank.
In the m'nt.time the banks were using the pu^«,
lie funds® their own advantage, increasin'' their
discounts and circulation upon them, and of
course m king a lagre profit oat of them. Thus
the public revenue, in the han-.js of banks, be-
came themeansof increasing the excessive is
sues of pper money which ministered to the
cupidity i men, excited to undue speculation and
produced lie demoralizing effects which are now
complaint! of, all over the land. A Govern
ment intepsted in protecting the interest of the
who!* pe<*le could not consent longer to be made
the mean of injuring the many tor the benefit
ofthe few and hence arose the necessity ofcut
ting the Government entirely loose from the
hanks anephe hordes of speculators which sur
round thej. Whatever tiie State Governments
might ihik proper to do in this respect, ths
General (nvernment is determined that its funds
shall no! b used for the purposes of inflating a
paper cursncv and speculation, until at any rate
they slialltave first passed into the hands of the
public erdttor, atni in this determination, we
make no (iestion, it will be sustained by the peo.
pie of thejnunlry. But before the accomplish
ment of til measure, a tremendous battle will be
fought. I’he federal bank party with its whole
force of jalent, money tied corruption, is mar-
shaded gainst it, an I will contest every inch of
ground. It is a grievous evil to them to have so-
much ofneir sources of profit, power and spec
ulation s the use of the public funds afforded,
taken frtn them, and they tire determined to
compel je Government if they can restore
its use tiihem. Tins is the whole secret of the
oppo-itio raised against the Independent Trea^
suty bill.’
Hon.Charles J. McDonald of Bibb, has
been injtecl by the Secretary of War, to
attend te annual examination ofthe Ca
dets at Vest Point, N. Y. in June next.
MajotArchibald Clark, of Camden Co.
has bee appointed by the President, by
anil wi! the advice and consent of the
Senate,Collector of tho Customs at St-
Marv’sBa.
Anotbr Revolutionary Patriot Gone.—
Major AMES Robinson, better known as
“HorseShoe Robinson,” died at his resi
dence I Tuscaloosa county, Alabama,
on the Sth April, 1838, in the seventy-
ninth var of his age.
Sinco last, another Revolutionary Patriot
has UeetwansIcAed to another world. Full of
years aniiifi patriarch of a numerous household
was CoilouN Shellman, our late fellow.citi
zen, A atched to the free institutions which in
his day id generation lie personally contribu-
ted to e.> blish, Col. S. prized liberty not for
the nani done, but us the source of those bless
ings, ci find religious, so peculiarly Ameri
can. < his “Revolutionary” services we are
qot prej red, with our limited information,