2
UNITED STATES BANK
ITS FATE DURING THE ADMIN
ISTRATION OF PRESIDENT
JACKSON.
THE EXPUNGING RESOLUTIONS
The .General Distress That Followed
the Removal of the Deposits—A Re
production of the Panic of 1811
When ihe First National Bank Fail
ed to be Re-Chartered— Mr. ClavN
Charge to Vice-President Van Huron
--Mr. Benton’s V.ews.
(Continued from last Sunday ]
\Y ritten for Sunday News and Observer.
Washington, D. 0., Oit 25.
Mr. Beiilou o titties the public dis
tress which followed the removal of the
deposits; and charges whatever there
was of it to the conduct of the bank in
withholding accommodations from the
merchants and others when they were
not needed. Thousands of petitions and
memorials were sent, to C ingress, pray
ing for a restorati n of the deposits to
the bank, and magnifying the real dis
tress of the people. Such was Mr Ben
ton’s the ry. He quotes from the
speeches of Messrs Olay, Webster,South
ard, Tyler of Virginia, and others, made
on the presentation of these petitions,
and states, or calls attention to their
similarity, in beginning by painting a
picture of the wonderful prosperity of
the places from which the petitions came
prior to the destructive war upon the
bank, culminating in the uneonstitu
tional abstraction of the public funds from
that institution, which roseate picture
was invariably followed by another, por
trayiug scenes of desolation and rain to
capitalists and 1- borers. Oa one of these
occasions Mr Webster presented “the
proceedings of the meeting of the build
ing mechanics of the city and county of
Philadelphia, convened for the purpose
of expressing their opinions on the pres
ent state of the country.” After address
ing the Senate, he moved to refer and
print the memorial. Mr. Clay seconded
the motion of Mr. Webster, aud, says
Mr. Benton, after giving it as his opinion
that the property of the country had
been reduced four hundred millions of
dollars in value by the measures of the
Government, thus apostrophized the
Vice-President (Mi. Van Buren) charg
ing him with a message of prayer and
supplication to President Jackson. Mr.
Clay said:
“But there is another quarter which
possesses sufficient power and influence
to relieve the oublic distresses. In
twenty-four hours the executive branch
could adopt a measure which would afford
an efficacious and substantial remedy
and re establish confidence. And those
who in this chamber support the
Administration could not render a
better servi c than to repair to the
Executive mansion, and, placing before
the Executive the naked aud undisguised
truth, prevail up m him to retrace his
steps and abandon hi 3 fatal experiment.
No one, sir, can perform that duty with
more propriety than yourself (the Vice
President). You can, if you will, in
duce him to change his course To you,
then, sir, in no unfriendly spirit, but
with feelings softened and subdued by
the deep distress which pervades every
class of our c<>uutrymen, I make the ap
pea l . By your official and personal re
lations with the President, you maintain
with him an intercourse wh ch I neither
eDjoy nor covet. Go to him and te l
him, without exaggeration, but ia the
language of truth and sincerity, the
actual condition of his bleeding country.
Tell him it is nearly ruined and nndono
by the measures which he has been in
duced to put in operation. Tell him
that his experiment is operating on
the nation like the philosopher’s expert
ment upon a convulsed animal in an ex
hausted receiver,and that it mustexpire,
in aspny.if hed >es not p.ute, give it free
and bound circulation, and suffer
the energies of the people to be revived
and restored. Tell him that, in a single
city, more than sixty bankruptcies, in
volving a loss of more than fifteen mil
lion of dollars, have occurred. Tell him
of the alarming decline in the value of
all property, of the depreciation of all
the products of iudustry, of the stagna
tion in every branch of business, and of
the close of numerous manufacturing
establishments, which, a few short
montns ago, were in active and fl xurish
ing operation. Depict to him, if you can
find language to portray it, the heart
rending wretchedness of thousands of
the working classes cast out of employ
ment. Tell him of the tears of helpless
widows, no longer able to earn their
bread, and of unclad and unfed orphans
who have been driven, by his policy, out
of the busy pursuits, in wh : ch but yes
terday, they were gaining an honest
livelihood,”
Mr. Clay proceeded in this vein for some
timi longer, and concluded as follows:
‘ Entreat him to pause and to reflect
that there is a point bsyond which hu
man endurance cannot g>; and let him
hot drive this brave, generous and
patrioti« people to madness and despair.”
‘‘During the delivery the epos' rg
phe,” says Mr. Benton, the Vicc-Prosi
dent maintained the utmost decorum of
countenance, looking respectfully, and
even innocently at the speaker, all the
while, as if treasuring up every word ho
said to bo faithfully repeated to the
President. After it was over, and the
Vice-President had called some Senator
to the chair he went up to Mr. Clay, and
asked him for a pinch of his fine Mae
caboy snuff (as he often did); and hav
ing received it, walked away.”
Mr. Benton adds that a public meet
ing in Philadelphia took this dramatic
perform nee seriously, and declared
that if Mr. Van Buren failed to deliver
the message to the President, he would
deserve the execrations of all good men.
Mr. Benton said that the distress peti
tions and harangues were nothing but a
reproduction, with a change of names
and dates, of what took place in 1811,
when the first National Bank failed to
be re-chartered. No deposits were
removed then, for the reason assigned
by Mr. Gallatin the Secretary of the Treas
ury, to Congress, that the Government
hafi borrowed more than the amount of
the deposits from t e bauk. Mr. lien
ton state that it will be difficult in after
times *‘or people to realize the degree cf
exe tement aud commotion wh ch were
produced by the org*nized attempt t
produce the panic and distress But it
must have been real. It is incieJible
that the wide-spread feeling of distress,
of the suspension of bu-iness, and of
hard times could have beeu imaginary,
or that it could have been produced by
the speeches of public men, and the sen
sational stories of the newspapers.
Doubtless the course of the bank, after
the veto, and the removal of the depos
its, prompted by the purpose of awak
ening sympathy, had much to do with
the collapse of business enterprises. Mr.
Biddle, as the event finally made clear,
was not an over scrupulous man, and
wa* doubtless ready to make the power
of the bank felt, iu the political contro
versies of the day. But apart from what
the bank may have done, with a view to
bringing distress upon the country, there
cm be no doubt that the overthrow ot
the bank, by the administration, would
necessarily tend to disorganize business
op * ati >ns
Tne f imous controversy about the Ex
punging Resolutions, introduced and
carried through the Senate by Mr. Ben
ton, “solitary aud alone,” was tin iu
cident of the bank controversy. On the
26 r hos De ember, 1833, Mr. clay iatro
due. d the following resolutions:
“1. Resolved, That by dismissing the
late Secretary of the Treasury, because
he would not, contrary to his sense of
his own duty, remove the money of the
United States in deposit w ith the Bank
of the United S ates and ltd branches,
in conformity with the President’s opin
ion. and by appointing his successor to
effect such removal, which has been
done, the President has assumed the ex
ercise of a power over the Treasury of
the United States, not granted to him
by the Constitution and law's, and dan
gerous to the liberties of the people.
“2. Resolved, That the reasons as
signed by the Secretary of the Treasury
for the removal of the money of the
United States deposited in the Bauk of
tha United States and its branches, com
municated to Congress oa the 3-1 day of
December, 1833, are unsatisfactory and
insufficient.”
These resolutions were discussed, and
the first one,declaring that the President
had exceeded his constitutional authority
ia dismissing Mr. Duane, was amended
so as to read as recited in the expunging
resolution of Mr. Benton, as follows:
“Resolved, That the resolution adopted
by the Senate on the 23d day of March,
iu the year 1834, in the following words:
‘ ‘Resolved, Thar the President in the
late executive proceedings in relation to
the public revenue, has assumed upon
himself authority and power not con
ferred by the Constitution and laws, but
in derogation of both,’ b.°, and theri-ame
hereby is ordered to be expunged from
the journals of the Senate, because the
said resolution is illegal aud unjust, of
evil example, ir defiuite and vague, ex
pressing a criminal charge without
specification; and was irregularly and
unooristiiu’ionaliy adopted by the Senate,
in subversion of the iiglrs of de
fence which belong to aa accused
and impeachable officer: and at a
time, and under circumstances to in
volve peculiar injury to the political
rights and pecuniary interests of the
people of the Uniterl states.”
Mr. Olay’s resolution, wh : eh Mr. B n
ton here propose ! to expunge, was
adopted March 28, 1834, by the follow
ing vote: Yeas-Messrs Bibb and Ciay,
ot Kentucky; B ack and Poindexter, of
Mississippi; Cal noun and Preston, of
South Carolina; Clayton and Naudain, of
Delaware; Ewing, of Ohio; Frelinghny
sen and Southard, of New Jersey; Kent,
of Maryland; Knight and Robbins, of
Rhode Island; Leigh and Tyler, of Vir
ginia; Mangum, of North Carolina; Por
ter and Waggerman, of Louisiana; Pren
tiss and Swift, of Vermont; Silsbee and
Webster, of Massachusetts; Sprague, cf
Maine; Smith and Tomliason, of Connec
ticut—26.
Nays—Messrs. Benton and Linn, of
Missouri; Brown, of North Carolina;
Forsyth and King, of Georgia;
Grundy and White, of Tennessee:
Hendricks and Tipton, of Indi
ana; Hill, of New Hampshire;
Kane and Robinson, of Illinois; King
and Moore, cf Alabama; McKean and
Wilkins, of Pennsylvania: Morris, of
Ohio; S icpley, of Maine; Tallcuadge and
Wright, of New York—2o
Two of the affimative votes, those of
Messrs. Calhoun and Tyler, in view of
their subsequent career, must be re
garded as singular. It is true that Mr.
Calhoun may be said to have been the
originator of the baDk, which President
Jackson vetoed ; but he had ceased to be
a Liend of banks before this buik con
troversy originated; aud he distin
guidled himself afterwards as an anti
bank man. He abandoned the WLigs in
1837, and went over to the support of
Mr. Van Buren’s policy of an Independ
ent Treasury, as it was styled, in law ;
but which the Whigs nick named “the
Sub Treasury.” And in 1841, Mr. Cal
houn was a strong supporter of Mr.
Tyler, in his veto of the several bank
bills that were laid before him.
As to Tyler, who had been a leader in
opposition to Gen. Jackson’s anti bank
policy, who was on the Senate commit
tee, which reported against the removal
q£ the (loposits, And read the rap *rt to
the Senate, if Ue did not write it; it will
be remembered by many men still living,
how, in 1841, he alleged fiivolous ex
cuses for refusing to sign the Bank Bills,
one of them framed on his own suggest
ed plan.
Mr. Benton’s Expunging Resolution
was debated at great length. In his
own defence of it, he laid particular
stress upon the resolution to be expung
ed from the journals, that it charged
the President with an impeachable
crime, in the usurpation cf authority
not granted to him by the Constitution;
that the Senate was assuming to itself
the two fold, and inconsistent offices, of
prosecutor and judge; that the House of
Representatives was the grand inquest
of the nation whose office it was lo ar
raign the President on charges of high
crimes and misdemeanor; that the Senate
was to sit as a court to try the President
on the charges, and that he should te
dispassionate, and uncommitted, until
the House had brought all the facts be
fore the court; but the Senate, in viola
tion of tht; Constitutional ngnts of the
accuted, and of its duty, had prejudged
the case
There was much force in this argu
The Newn and Observer. Sunday. Oct. 27, ’os.
ment. The Senate, sitting -a c u:t of
impeachment, was clothed with ti e pow
ers of judeo and jury; and should come
to the hearing of the charges with un
biased minds, as far as possible, at least;
and by no means, should first decide
upon the guilt cf the accused, in open
Senate, condemn him by a decided ma
jority, and then organize itself into a
court, call the Chief Justice to preside,
and proceed to hear the testimony.
Mr. Benton’s resolution, like the re
solution of Mr. Clay, which he proposed
to expunge from the journals, underwent
changes It went over, from the 23d
to the 24th Congress, and to near the
close of the latter, when, on the 16th of
January, 1847, it was as amended, with
a long preamble, consisting of eight,
“Whereases,” adopted iu the following
form:
“Resolved, That the said resolve be
expunged from the journal; aud, for that
purpose, that the 8 cretaryofthe Senate,
at such times as the Senate may appoint,
shall bring the munu: eript journal of
the session 1833 34 into the Senate, and,
in the presence of the Senate, draw black
lines round the said resolve and write
across the face thereof, in strong letters,
the following words: ‘Expunged by or
der of the Senate, this 1H li day cf Janu
ary. in the year cf onr Lord. 1837 ’ ”
On agreeing to this resolution the vote
was as follows:
Yeas - Messrs. Benton and Linn, of
Missouri; Brown aud Strange, of North
Carolina; Buchanan, of Pennsylvania;
Dana and Buggies, of Maine; Ewing and
Robinson, of Illinois; Fulton and Sevier,
of Arkansas; Grundy, of Tennessee; Hub
bard and Page, of New Hampshire;
King, of Alabama; Morris, of Ohio;
Nicholas, of Louisiana; Niles, of Con
necticut; Rives, of Virginia; Tallmadge
and Wright, of New York; Tipton, of In
diana; Walker of Mississippi; Wall, of
New Jersey—24
Nays - Messrs. Bayar.l, of Delaware;
Black, of Mississippi; Calhoun and Pres
ton, of South Carolina; Clay and Critten
den, of Kentucky; Davis and Webster,
of Massachusetts; Ewing, of Ohio; Hend
ri ks, of Indiana; Kent, of Maryland;
Knight and Robbins, of Rhode Island;
Moore, of Alabama; Premiss and Swift,
of Vermont; Southard, of New Jessey;
Tomlinson, of Connecticut, arid White,
of Tennessee —19.
So the resolution was agreed to.
Mr. Bente n moved that the secretary
be directed to carry the resolution im
mediately into effect. Accordingly the
secretary produced the record of the
Senate, and, opening it at the page
which contained the resolution to be ex
punged, did, in the presence of such of
the members of the Senate as remained
(many having retired), proceeded to
draw black lines entirely around the
resolution and to endorse across the lines
the words “Expunged by order of the
Senate, this 16th day of January. 1837 ”
“No sooner had this been done,” says
the report, “than hisses, loud and re
peated, were heard from various parts of
the gallery.”
The Chair (Mr. King of Alabama)—
“Clear the galleries ”
Mr. Benton—“l hope the galleries will
not be cleared, as many innocent persons
will be excluded, who have been guilty
of no violation of order. Let the ruffi
ans who have made the disturbance
alone be apprehended. Let the Ser
geant-at Arms seize the bank ruffians.”
One man was arrested arid brought
before the Senate. There was a propo
sition to allow him to purge him-elf of
the contempt by oath, but at length he
was discharged without undergoing that
ordeal. His name is not given in the re
port of debates.
Mr. Hugh Lawson W’hite, of Tennessee,
theretofore, had voted with the frit nds
of the President, agairs" the bank; but
he now voted against the E.x nuiging
Resolutions; and it wa* at»out tips time
that be began to be alienated from the
President’s party. Wnether this vote
was regarded as a cause or a consequence
of that alienation, I am unable to sty.
The connection of that eminent Vir
ginia lawyer, Benjamin Watkioß Leigh,
with the National Bank controversy, is
curious and interesting. In 1811, as a
member of the ' r rginia House of Dele
gate, re voted to instruct the Senators,
Messrs Wm. B. Giles and Richard Brent,
to vote against the re charterof the bank.
At the same time Mr. Leigh drew up an
able r< port in favor of tne right of the
Legislature to instruct Senate rs. But
in 1832, be voted tore charter the bank,
and disobeyed the legislative instructions,
that he should vote against it.
Daniil R Goodloe,
Electric Hitters.
Electric Bitters is a medicine suited for
any season, but perhaps more generally
needed, when the languid exhausted
feeling prevails, when the liver is torpid
and sluggish and the Deed of atonic and
alterative is felt. A prompt use of this
medicine has often averted Jong aud per
haps fatal bilious fevers No medicine
will act more surely in counteracting and
freeing the system from the malarial
poison. Headache, Indigestion, Con
stipation, Dizziness yield to Electric Bit
ters. Fifty cents aDd 11 per bottle at
John Y. MacKae’s drug store,
Best Little Purgative
I ever need,” write* one lady, in regard tc
Hood’* Pilia. “They ax* *o mild and do
f§§
Pill* ar* raoidly increasing In favor. 16ft
DO YOU
Want Money For Your Land ?
If so, write to I>. I. Fort A Co., Real Estate
Agents, Italeigh, they will undertake to get
you a customer. Large and small farms
wanted, also mineral and timber lands. No
sale, no charge. Houses and lots for sale.
RALEIGH, AFIERNOCN, fiPTfIDEO Q&iU
TUESDAY EVENING, IJbSlipLll £9lll.
The Onlv Big Circus Menagerie Coming this Year
SELLS BROTHERS’
E S 7 BIG SHOW OF THE WORLD
O
The largest (' reus and Menagerie Ever ii Raleigh. The Premier Event of all
Combined Circus Seasons. Earth’s Greatest, Grandest, and Most Stupen
dous Tented Exhibition. The Oldest and Richest of all Arenit and
Zoological Displays in the World. Beyond all Comparison
the Biggest aud Best show on earth.
RALE IGH, September 29.
f . Jr J? iv r * 1
' ■ ' . ■ ■- 1
? V ,J> . J* • < ' '.-•V •.
J. ~ i
11
uADix
• SATE; ftMSmiMS AMOKS MUM MB SUCK - '-I
Larger tests, 1 arger menagerie, more trtitled Animals more horses, more
novelties, a greater number of Acts, and better than ever s- ei in tfai« city. C un
ini: in all its overshadowing vastness on its special railway trains. 1 000 People,
500 Horses and ponies, 12 mammoth waterproof tents, magnificent 3 ring circus,
50 monster cages of rare wild beasts, 20 hippodrome races.
$3,500,000 Actually iuvejtttHo pcipstuate its $3 SQQ QQQ
djp&Qfr fpKSSa &aam the grand free street over a mile iu length, at
i |g_ 10 a. m. Tuesday, October 29. Fifty cages of rare
If® 1 wild animals. Magnificent tableaux, chariots, wagons,
fefelS Imi vans, etc. Glittering avalanche of princely splendor.
Great band* ot music. Absolutely the most gigantic pageant ever witnessed
Then decide whether or not you want to visit the world’s biggest shows.
Two Complete Performances Only,
AFTERNOON AT 2, EVENING AT 8.
Doors open one hour earlier. Seating capacity 12,000.
30 get lemanly ushers.
Circus parties can secure tickets in advance at the Branch Ticket (Iffioe, John
Y Mac Rat's branch pharmacy, next to postoffice.
Admission 50c .to all combined show.- Children Under 9 Years, 25c.
Raleigh, Tuesday, Oct. 29. ard T EVEN INC.
Special excursions will be run on all railways at reduced rates.
Chas. Pearson,
Architect and Engineer,
(V
Plans and specifications fnrnisfteo or
application. Land survey ng, v~ater
wort-H etc.
Room 22. Pullen build! np
Wedding Invitations ,fg? t “£S E ®oS
artistic- style. Send for samples and prices, j
VISITING CARDS— Plate and 50 card - Jjiame) j
fj.oo: name and address, $1.50. LYCETT.
ill N. Charles St. . Baltioaor-
CROSS &LINEHAN
0 ———————
CLOTHING, FURNISHINGS AND SHOES
Never in the history of the clothing business have desirable clothes been offered at such lo * prices as we are
now quoting. Our assortment of rich novelties, both in foreign and domes'ic manufacture, represents every
fashionable color end weave and is unquestionably the largest and most complete to Ik; seen in the city. Quality
with us is always the first consideration, this secured, we
Down to make them acceptable to you. A great exhibit of new goods for
■TTTHIE© 'SSTI£SIE3IKL°S3
SPECIALTIES
Will be offered in every department of sufficient importance to warrant their inspection b, every cne iutere-ted m Hi£b
Class Merchandise. We do not quote prices for the reason that the values in each and e\ e’y nstance will speak tor them
selves and tellingly. Seeing is believing, and it takes but little time, gives but little troub e, and costs nothing to come •
see for yourselves. Drop in on us, we will try to make it pleasant as well as profitable to you.
CROSS &. LINEHAN.
210 Fayetteville Street
their work with*
oat any griping.
I recommend
them to all Buf
fering from *o*-
jtivenes*. Th*j
will certainly
bring yoar habit*
regular. Wen**
no other cathar
tic. ” Hood’*
! ...
Notice.
The ensuing annual meeting of the stock
holders of the lialeigh and Augusta Air-
Line Railroad Company, will be held at the
' office of the company, in Raleigh, V. C., on
Thursday, the 14th day of November, 1895,
commencing at 12 o’clock, noon.
The transfer books will be closed from
| the 31st inst., to November 14th, 1896, inclu
sive. W. W. V ASS, Secretary. ,
Raleigh, Oct. 15, 1895.
1
I
Ladies who value
a refined complexion must use Pozzoni’«
Powdkb. It produces a soft and beautiful
skin. j
WflCHOui
Loan and Trust Company
WINSTON. N * .
O
Paid up Cejjltal, L.'OO.OCC
Authorized Capital, SI,OOO 000
—o —
STATEMENT.
At the ctoyc ofnil or
I. £157,309 01
Overdrafts, ..... use
Bonds, * i
Building and fixtures, - - ‘ii,.VA% m
Heal estate, ..... s.OBI ttn
Cash on hand and in hanks, IM..VW x#
Total, A>06,123
Capital .... 300.000 o«
Surplus, .... 11,006 «7
Deposits, .... 2*1,330 a®
Due to tmnk*, - - it, W7 M
Cashier’s Cheeks, - • • 5.'9 8S
Total, . 0505, MS 02
June 15, I*o3, $ ——
I too. 15, |H!«, :to 70s na
DEPOSITS: SS
May 15, a0i,:W4;43
sc|>t. 2s, I*os, £>4,330
YOUR BUSINESS SOLICITED.
V. ii. FRIES, JAS. A. GRAY,
President, Vice Prewrt
H. F SHAKEN 1 R,
Sec’v and Treat-.
SPECIAL SALE
-OF
PIANOS AND ORGANS
Beginning Tuesday morning, Oetoh- r 32nd,
1*95, and continuing one week.
We will make a liberal reduction on all
pianos and organs in stock, and wc have
some special bargains In three
KM
PIANOS
one grand and two uprights, that are a little
shop.worn, lust as good as new
in other respects.
One Kimball Piano, style Vo. 3, used onlv
four months, will t>e sold for ti tty
dollars less than regular price.
This will he the most important Piano
sale ever advertised in Raleigh. Give us a
call during the week and you will surely se®
something desirable. Remember we carry
the largest stock in the State aud are pre
pared to give the best bargains. Wo own
and personally control our extensive Piano
and Organ business. If you intend buying
I a Piano or Organ soon, you can’t afford tc
miss this opportunity.
Darnell & Thomas.
li4 Fayetteville st. . . - Raleigh, N. C.
A dministr-atsr's Notice.
Having cjualitied a> at*J ll ,' ll '-r i ator upon
the estate of Or. W. K. Richard-'>n. late of
Wakecounty, I hereby notify nil persons
haying claims against said decedent to ex
hibit- the same to me at my residence, tli ree
miles southwest of Kurpsboro, on or before
October lOtli,
Rafohi* B. Whitley, Adm’r
Battle A Mordecat, Attorneys.
October 5, 1896.
Safe of Valuable Real Estate.
By virtue of an order of the Superior
Court of Wake eoiinty, made in special pro
ceedings entitled W. J. Olive, administra
tor, vs. A. J. Olive and others, for the pur
pose of making real estate assets, we will
on Friday, November 15th, 1895. at 12o’clock,
on the premises, sell to the highest bidder
for cash, at public auction, tiie following
described real estate, to-wit:
First Tract—Situate in Wake county and
being a part of the land of Henderson Olive,
deceased, on T.ittle Beaver Creek, adjoining
the land of B, Barker, and containing 5©
acres more or less.
Second Tract—Situate in Wake county, V.
C., adjoining the lands of Rufus Gardner, V.
J. Barker, M. A. Segraves and others, con
taining about 20 acres more or less.
Third Tract—Situate in Wake county, N.
C., being the land of Henderson and Martha
Olive, deceased, adjoining the lands of W.
J. Olive, W. If. Bennett and J. A. Olive, eon
tuining 120 acres more or less.
Terms cash.
This 13th day of October, 1895.
H. E. NORRIS,
W. B. SNOW,
Commissioner*.