rr5 - : 'v oy&i uuuaYi ll a i onto v - r "
TERMS.
fh Watchman may hereafter be had r
Dollars and Fifty Cents per year.
Ulaso( koijk new subscribers who will
T in advance l" whole (turn at one payment,
U hav.i the paper for un year at Two Doi -m.udi.
iii'l a long as the dame class shall
niinun llms to pay in advance the surr. of
,1,1 IMIara the same terms shall continue,
.r.vi ihey will be charged as other snbseri
rs. '
S.i'isrincrs who do not pay duiing tSe year
l !mnharfel three Dollars in. all cases
V m i'i-i.-ripiioii will be received for leas than
in year.
.t -i'T will be discontinued but at the op-
i the fvlitor, unless ill utrearges are paid
-p VII letters to the KM i tor must be post
- . i :m - i . i
i . inirwisfl iub) win cenainiy mi ue i-
in.
Vrms or nvEHTisiwn Sixty two fy a hall
. nrr iouanlnr the first tiierhon,ainl 3H
,ih ' si:iiire lot each inur.i t ion afterwards
in oils D"i.i.R.
V l.-rii-' ih'iiis will be continued until orders
reived lo stop them, where no directions
. previously S'Vn
Vlviiiso.iiPtiis by the year oi six months will
ui le at a Dollar per month for each srp.a e
ih the pri vi li'or ot changing the Jurm everv
liter
H llrhi.r,mn.. 1I 1 kOUi
t coo i Lies SPEECH
SALISBURY,"
Beswx per lb. lb' a 17 eta. ; brandy, Ap
per;al. 45 a 50 cis ; Cotton per lb (in
d; i an ; Cotton bagging per yd. 16 2b
t'olfxe per lb. 16" a 18 els; Castings nei
m 7 j a i OO eta ; feathers per lb; 35
..Pliiur prbl $61 7; Wheat pr busa-rfcl 121
Jjj'Jats pr bushel 30 claj Corn pr bush, 55 clsj
hi per lb 6 a els; Lead per lb 8 a lOcts ,
jlae er will. 75 eta i Nails per lb 9' a 0
; uVef per IbO a 0 cU; Bacon per lb 121
, Duller per lb IU uu ; Lard per lb 15
;S.ui (vr busiiol H 25 1 50cts; Steel, Ameri
i Ulster, per lb. 10 eta ; English do. per lb
cu; Cit do. per lb 25 a 30 via ; Sugar
i IV J U 1. 15.. cU. ; Ram-.Jamaica per gut;
; Yankee do it ; Wool (clean) per lb 3(1
; Tallow per 15. 10 121 ct; Tow-linen pr yd.
20 uts ; Wine (Teneriffe) per pal. f I 50 .
lugal do. l 50 a l 7 cu ; Claret do
gut. ill I 15 ria; Malaga,' (sweet)
a!.$l i Whiskey per gal. 45 a 50 eta.
CIIERAW.
leef in market per lb 6 a 8 eta.; Bacon per
ill eta; Hams do. 00 00 cia ; Beeswax
ID 20 a 22rls; Bagging per yard IS a 25
1 bale rope per lb a li 14 ci ; CilT.-e pr.
iS a 16 ctsjCoiton per 100 lbs $51 7 00
('i Corrjpr-buahii-90 4)5 a -eta-, f'lmir
i nagona per brl J7 8 0(H, from stores per
IOalJ;roo er 100 lb $j ; a 0;
Liases per gal 45 50 a cli Nails cut assmt
ler lb 8 4 2 a 9 els ; Wrought do. per Iti. tJO
Purk lmi lirf 44 l i Ui.-u ' inn n. a
Su.rarperlb. 12 10 1 2 a cts ; Sajt pr
H -2j;Salt pr bushel 37 j U-Uul A-UMO-idiHWr-pr
1 1 1 0 irct's; "1 allow pr lb 10
U cts; Tea Imp-rial per lb l 25 a 1 32 i tii
im Ho.-pr lb T 'i T 2 5 cis ; Tulwcco mirrm
ared per lo-lO a 15 cts. t .. . -
fayi:tti:ville
Irandy, peach 75 a 80. Du. AppU, 65 a 70
iWptlbS 10 a (M0; Cuon ir lb 0 a 8 i ts
rprb4 IU ;'iMir IW. fj.5 t 6
xseed pr bh't 00 n 000; KVat h-rb pr lb 43 a
uirnprousli T a 80; Jror. prlb 54 a ti; AIo
"r -."' 40 a 41, Nails cut 7i a H ;Salt
"fli 50a 75; Sugar pr lb7l all lobacco;
' 2 a .i ; Wheat pr bush 0 00; 0 Whiskey
2 55,. Beeswax 20 a 00
Concluded j
EFFECTS ON THE CURRENCY.
But, gentlemfcn, it is the currency, the
currency of the country-it is tbu great
subject, so interesting, so vital, to all class
es of the rommunily which bus been de.
lined to feet (he not violent assaults of
Executive power. The consequences are
round us, and upon us. Not unforeseen,
not unfor.-told,have they coue,brinBing dis-
l""ci, ami tear ami alarm fm
U.e future. If it be de nud thai the present
condition of things has arisen fioin (he
I resident's interference witluhe revenue.the
Grat answe, i jht when he did loteifere,
just such corMj.ieuMg were predicted ' It
ts then said, and lepeated, 4nd pressed
upon llRiil.hcQention. anSlfijiit iuter'fer-
ci.ee wiM necrsaarilyprodiicfi dei
ewhmmt,tr fwrronlidencc.. and
commercial dis.rtss f pray rbu wntle-
to reouf to the debates' of 1832, '33
& 34, and then to decide whose opinions
have proved to be correct When the Trea
suit eiDtritmnt was first announced, who
sitported, and who opposed it ? Who
warned-the country against il C4.iia
theywho-eftdeaVored lo'sUylue -violence
of party, to arrest the hand - of Executive
authority, and lo convince the Pecple that
his cxpcnoieni was delusive; that ilspbje. t
was merely to increase Executive power, &.
Ih.it its eflect, sooner or later, must be iuiur-
'a a .
mm., ratido; .nd. jn ht. inaugural
address be pointed out the wain lubjecU of
consmufional h; w.s U ..id 1,. an
U hd failed to d ,i that' bad been hoped
r .-uiu a, m regard to the corren-
In March.J829th, the banktood
lyery eft. ,th4ho new Adm.nislra.
ion. It waa regarded, so far as appears;
' J -muiionai, tree from political
r party t,lnt, d blgL,y fc h n
yeb ound no pCe m the catalogue of a
buses to be reformed.
Butr gentlerhenrnine monAs wrou'cht a
w.mderful change. New l$hls broke forth
before fljtse mTmihn h.i . .: j
tl. tj , .-- MVU , HIIU
6-- ... ucecmuer, held very differ
ent language, and manifested very different
purposes. '
Although the banlt had then five or ..
yers ol us chnrtpr unexpired, he yet call
ed the attention of Congress, very pointed
ly, U the subject and declared
1. That the conatitutioiiauty f the bank
wntr weH doubled by many.
2. That its utility or expediency was also
well doubled.
3. That alt must admit that it had failed
in the undertaking to establish or main-
lain a sound and uniform currency ; and
i imi ine uue bnik j.i, n
ions
- i mi?
I . It ...
Gentlemen, ,t is fair to bring the.opin J
isol folilical mtn.u4Jr?Tini,ld V.n " venues
Htoxrrr- - r - , ana creon ol I lie Uovernmcnt itself lThe
and formvself. and th. k,ol...c.l f,i.... 1 1 'rT "tt y' last nt-as very
with whom I have acted on tins .ubk-ct ? ' 7.. Zr" " U,e 'V
,i. , . . r v,,ii vi mo viuvcrriineni. and man.
..ir tiurrury, i am reauy to abide the test.
But,, belore the subject of the currency ,
and iis piesent emharraisina sfate is dis
cussed, J invite your attention, gentlemen,
, i . r .V .
u mo iiiBiiiry oi executive o ceilings con- lorih.
!!f '. I propose -to state to you
a senes of fact; not to argue upon -iliem,
Govern tneni. and man
nged and aduitnistiTed by thu Executive,
waa a conception which 1 hd supposed no
man, holding the chief executive power
in Ins own hands, would venture to put
H ilthe fj'iestion now iwliat had wrought
so lioindaiidJangi;r-1
.." i
I lino irrx.it . li-ifin.. ..r r..l i r
no. lo them, not to draw a,,v .i , - " l , , ""ii,"""
juot n fen nce fro,,, ,U,n ; but mere y , to occ.rreil. between M.rd, r.
late the case, ,n the plainest niaii.itr, as .' I thai al.ould have caused I,ab '!
understand it. And I is.li. Eentl uitn.tliot ,i,i,,uj ....r..i j
I. IiiVV I 7 I i r ; a" !'''". K lart up ...the character- of.
...j .ii1U menu, ' mr wut.i.M monster, and bccOine
.iVMn ,.u lime mi sn oiitii iit-ara, ann wtm i 6m, in the ust
Cit iit.uieiu li nsee what events were
a Inch bail iiitt rvt'ui d.
Crtf4 irckron was cletted in necnin
lier, Is.'. Hitcriil waa lo begin hi M.irch,
IS.'it. A n ssiou id" Congress toiik pl.u c,
tin rclore, b tcen his iltclioli and the
toiii'i.i'dc in-r.t of 1.14 adaiiiuslr iliwi.
Now, gentleman, the irutli is, that dur
ing .!liv..sr.-sujn, and-a little before Hie com
inciKCiiiciit ol.lie.iw AtinimTstrHliou,. a
feriSjtott.:wafa m,wtat--t-ypo1rRCT"h': men
to ii t rt :io i w tlhJlit? iaauii;iBeiit-of the
ban!;. " Members n Cmrvus undertook to
iiotiiin;iti! or reco'nm-ml individuals as di
rectors in liio hra.iclics cr offtcK of the
bank. They were kind enough, souietnes,
to untie ournbole lisis or litket", und to
send ihu.ii to 1'hil.tdelpiua, c-onini.i.in' llie
ii iincs of those whose appoiiit-nents would
le S'ltiiilactory to Ot-ner.il Jjck son's friends
Portions of the corrcspouJi-n. on the sub
ji-cts have bi-i'ii publisliod in so.i.u of the
volutninous reports and olio-r docuiuonls
coiineitud wall t tie bank, but perl, ipv
have not been generally lueile.i or noticed
At Jii'jt.. lhe .baiik- uuir.y ilfcltnwd, ai
Sently as possible, coinplv a ill. thesit St
Mini! r 'requests. But likf .ipplicitions hc-C-ili
to slnnv ihcuibi lves finm many quar
td, Hi d u very nihikrd cj.se occurred as
t ailv a J me, 1123. C Ham ineinbvrs of
ilic iturc of New Hampshire applied
f r n flung m ibcfrestikm y of the branch,
aIhiIi was es t iblislo d in Unit Stale A
mi-.iil cr i f ill U S S i.le wrote both to
il ritsidcut i f the li ink. nml lo the Seen;.
states disease, usually, in such a manner,
mat. when atuied, H la alieaJj very well ar
gued
lift ns 'see, grnnoimen, what the train of
occiii n-nres bus been, in regard to our rcv-
nue ina Nuances; and when ihese occur
rences are staled, I leave to every man thu
rign. to Ot cute lor himself, whether our
present diiTicultics hae not uriserf from at
tempts toMeftd-th-! Exfrutive authority.'
In giving this detail, I shall be compelled
to speak of tjtejjajetffc
i)Ul 1 shall sjieak ;Of h hisloricaljy "wily.--Mf"
Opinion of ,:s ut.lity.and of the extraor
dinary ability tnd success nil h which its uf
airs a tre conducted, for many years before
the termination of us charier, is well know n.
I have often expressed it, and- I have not
altered it. But at present I speak of the
bank only as it ninkes a necessary part in
the history of events, winch I wish now to
recapitulate.
Mr Adams commenced his Administra
tion in March 1825. He hid been elected
by the House of rteprfgentutivcs, and be
gan bis careet. as President, under a stron"
1011 carrying ihe mail .of Hie Liiled 5iai ' a -
inbeMliowiiig p ,ii f route, will oe received i first day, be was warmly, even violently,
ripartriioHi until ihe 1st day of June 1 opposed in ail his measure; and this opjio-
'V-eided on the next day. ! sitioii, as we all knowoiiiiivued without a
lev aei to b xeeu'.e.i by the 1st of Sep-1 baieuieiil,eilher in lorce or asperity, through
Tt lifjty 'e "0,V'Ce $03,W,M,W- ' wl'Oie lerm id" fotir je.rs. Oentleme,,.
IW-oniraei' will cont.nue in force until the I J " not about to say vvh.il,. r Uus
buf June, 1959. , lloii was well or ill foundcil, just i.r unjosi.
(" 2lti5. Knun Salisbury, N C, by Ileal i ' 'n'y state Ihe (act, as cuintcted it!i olh
V,ntf. Mount Lebanon. I fill's Siore , Sugg s T facls. The Bank of the United. M-tf.s.
y, Caledonia, Mechanic's Hill, l'rosperiiy, during those four years of Air Adams' uti-
ilL?,tr JhirM0,Ut,on decid'd ncharac.
w .u'9 ."M"K toward the
vurncerorawara became the'eettled
policy of ibo Government; ad the message
of December, 1839Mstbeclear announce,
men of that polid, f ,M bank hit
r-. - . Mirwiors, inus recommended
oy members of CnnarflM n i,.i
1 i - . . " f .. ,t inn BUUUIII
T.i 'n1 PPO'n'wenU to the (supervisions
Pf the Treasury; if u had lemoved the Pre
aident of the New. Hampshire branch ; if
it had, in all things, shewed itself a comply
ing, political, patty machine, instead ol an
independent institution; if it had done this,
1 leave all men to judge whether such ah
entire change of opinion, as to unconstitu
tionality, as utility, and ,t!j gooJ t.ffti,.u on
the currency, would have happened be-
.o mau n ana uecember.
JErJ?!n Jhimoment in which the Vank.
serted Us indeperiaericrorTFeMur, con
trm, and its elevation abova
ptirpiwes, down lo the end of itscharter.and
down mo to the Resent day, it has been
Ihe subject t hich the seleclest phrases of
party denuociatioa have been plentifully
""Bul Congress manifested no dispojitioii
t establish a treasury bank, On the con
trary, it was satisfied, and so was the coun
try most unquestionably, with -the bank
then exisiinir. in the llimnur nl 1 M.'l')
Congress passed an act for the continuing
tllA ..liaVli. ..C .1. I I I . ' P
;" "- -. j i uia. uaiiK ov siroug . m;ion
,M. "ifeliLl ? MHseJji. the Hooeef KeW-
iciimiivcj, i irnnn two-thirds of the
members voted for the bill. The Preoi
deni ave it dig negative and as there
Were not two thirds of the Senate, though
a large niajoiity were lor it, the bill failed
to become a law.
Uut it was not enough that a continuance
oi me cnarter ol ihe bank was thus refused.
It had the deposite-of the pubjid money,
and this it was entitled to bv law, for the
tew years which yet remained of iu char,
tered tern,: But this it was determined,
it should mil enjoy. At the commence
ment of the session nf 1832-'3, a grave and
sober doubi was expressed by ihedecretary
ol ihe Treasury, in Ins ollieial coiiiinuniea'
tion, whether the public moneys were safe
in the custody of the Bank ! I confess
gentlemen, when I lo..k back lo this nf;
gesliun, thus ofiHM.il ly- made, so serious' in
us import, so unjust, ir not well-rounded,
and so greatly injurious to the credit of
tlio bank,it injurious, imlee. I, to the credit ol
the whole country, I winol but wonder
that any man uf intelligence and character
-iioulil have been willing t.) make
rules, ,ny they, -concerning the com- ,T 00 of Secretary of the Treasury. .
merce or currency of the country! . And i lT' U,,W-, Mt lh W W "
o we have all been ,aUgl,t lo think, under X ' o ? "V" ""J or i the Pre t -
all firmer ad,u..s,ra..os. But wehave ,nake 'iction. and, to .ay -
HOW seen ihut i : i . . . . 1 " tnat Mner mm- U ...:. . . r1. v
, - resiueni, and the rres- V ,ci;c'eo lor uents al the
ut alone, does pre.enbe ,h. rule eon- S!!"?? T tl"'1 "l silver oolJ
cer ngllM, c He make, it and ! t 9.T" fUte Uni AnJ
he altera it. e make. rule for ... B0.w. f?r l ..
ai me comma oemunt of the last umU
.. , , ,e revenue, and anoihcr rule for
another. He make,. .. ...... r... ... w.r
nir 1110 c.ll
S.
aiueu of another Slate. This, ,t i. Cer- '"' ' iiiielli.rWl,i U.. ,d nnf.i , ?
tatuisbne pari of the Ticasurv order ui' : ai,J .oerta
Vou-linn ,..,.il... . ,
i lesoiuioi wait hrm.dhk
forward in ih. Son., f w Prougql ,
it.i. order bv m7. KT ."l?
n ui
July last.
nergwlg character, mkirni Us from , h.
v in lunraiiiiairat iaa j .
But at last Co,,.-, i '. ... . I f f fins. The Wi.i,,. " ?, 'mi0
(liwIiioL- i.. ....! .. .. . . lesu ulii.n. Mud U- ., - ; i . ' r . '"'S
" . gui4Mj me u.-posii. s of the ,ha jkLZtZrirm,mt '"tir'. wuh
puldw . watte va ---lriT5-e.l iL j .,--4.-l'l''w"6r.i. itw 1.,.
lu'ii! i " -"or i anxiuus. in mm. ... . . . .. .J.
,ur pacing suhje.il under leval con
trol, restrai
lo make it.
reail in i;, houever. tin- iirsi lines uf nn.iit..-
er chapter. J saw iiii atic.ii)t was now to
he ii-aite to remove the ileposites. and siu-l.
an Hitt inpi. was oi-ade that erv scsijou.
But Uoi'.gress was not lo bepiWitk-ttopoii
to acciJinphsU Uie end by fw -OW'tt'siitliorf-'
X?' " " ;19 w'l afsccrlaiiicd -thai -neitlict
f t 11 1 1A tt ...... . a . av
til II I ii if ilm iw. ...... .i' .i
& ruwrr 111 liih i.tunii
live, suhiectine ihe hai.U. ... 1 i
dull on the one hand, and securing then,
again! Lxecutive favoritism on the iher.
Uut this law contained another important
, mc.i was, mat all Uie.juoney
jr, ucyonu wnai was neces
sary for the current expenses of the Uov
eriimcnt, should be deposited with the
i uis measure passed both Houses
by very uuusual majorities, yet it hardly
escaped a veto. It obtained only a cold as
sent, a slow, reluctant, and hesitating ap
PfovaJ and an carJv nuununt . .v.m-it
w array against u a long list of objections.
"u u.c i4v passea. t lie money in the
treasury, beyond the sum of live million
was to go lo the Stales ; a has so gone,
and the Treasury for the present is icliev-
eo ir.-m me burfien ol a surplus. But now
ooBorvc ouier coincidences. In ll.e aimu
l message of December. 1W35. the 1'rc.
dent quoted the fact of the rapidly increas
ing saie ui uic public lands as proof of higl
i.-m.iiai prosperity, lie alluded lo that
subject cerlaioly wiihmue.Y; satisfaction,
and in apparently something of the toue
ol exultation. There was nothing said a
boui monopoly, not a word about apccuia
uon, not a word about over-isssues of pa
per lo pay for the lauds. All was oroaner.
ous, all was full of evidence of a wise ad-
miuisiraiiou of goverumenl, all was iov and
triumph. ,
Hut the i lea of a denosile or distribution
r- . .
oi uic surplus money with the People sud
denly damped. this effervescing bappiuess.
The color of llie ronewas gone, and every
Hung now looked gloomy and black. Now
no more felicitation or congratulation on
account of the rapid tales of the public
lands ; no more of this mosi 'decisive proof
ol national prosperity and happiness. The
executive muse lakes upa mejancholyatrain
fSlie sings of monopolies, of speculation, of
worthless pajtef , rf loss 1)oii of . land -ami.
monry, oi me luuiuplicalion ot hanks, an.l
Mie ..danger of paiwr issues ; it the cud of the
canto, the catastrophe, is, that lamb shall
no longer be solu imi !.:r 'ld and silver a-
of Kcpresentatives, indued, de
tilt1 wroitoilKMl t)V a vfrv i AM ft fTi'ilrritt-
! lone. The object of all that is clear euouirh
The legislative" authority haviii. b-"i, ,l was l tlniiiiif llm . iiieoino from the
'huge, Pocket, and Johnsonville lo Fayelio
'i Hi miles and back twice a week lu sta-
Salisbury eveiy Wednesday anil Sal
ty it 5 a m, ariive at Fat etievdle next davg
lupin
ve Fayetteville eveiy mnndav and Thurs
'"in, arrive at Salisbury next days by I ministration, were
whole country
NOTE.
0HrniWia-i1iri11kii pfinaiAr0A nnlpfla il hn ne
miiiisiratiou, was in full operation. It wus
performing the fiscal duties enjoined ou it
by its churterj it had eslablished numerous
offices was maintaining a Urge circulation,
and transacting a vast business inexehiingv.
Its character, conduct, and manner of ad
all well known to the
thus invoked, anil invoked in vain, it wa
resolved lo flrelcli larther the loner nri ,,
Kxecutivc I'mvcr.aiid by thai ariu"'l.i rea-di
and strike the victim.. lto happened that
I was ... tl'is ciiy in May, 1 833, and lieu
le.iriitd, from a very auiiiciilie source, that
1!ie deposiles would be removed ly the
I'lCbideui's order ; and in June, as alter
w irds appeared, that order was given.
Now it i obvious, gemJcmeu, tlwi ihus
far the changi in our financial ami iiscul
syslt 111 Wi ie cU'ccleil, mil by Congress, bin
by ihe Executive. . Not hy law but hv llie
will and power of the President. Congress
would have continued the charter ol tin
batik, but the President iieuat.vcd llie lili.
Congresa was ol opinion that Uic dt-iiosin s ! rr"l'0h,t'-'"
ougiii not lo ie n nn.vid ; but nU! i'riM
deui removed idem Nor was ihih ail
t ne piiDHij iiioni ys lieiug vii.itlravv n from
ll.e CUSlodv Wllll'll the law IimiI i,r..vi,l.
the
public lands. But no desire tor such a
diminution had boeu inainlcalcd, ho long
.is the money was likely lo he buHeied lo
remain in the Treasury. Bui a growing
eonvctioii thai some oilier disposition inusi
In: made ol the surplus, awakened atten
tion to the means of preventing that bur
ping. Toward the cm! ofiho last session, gen
tleiiien, a proposition was 'brought forward
in Congress lor such an alteration of the
law as should adinii payment for public
lauds lo be made in nothing but gold and
silvrr. The mover voted for Ins own pro
position, but 1 do not tecollecl that any
other uieniber conciiried in the vote. The
was ,eji cleil at once : hut as
III other ruses, thai which Colnri hs re-
loscd lo itu the Executive power did. Ten
lays niter I ntigicbS adjourned, having bad
... ' i J m.?"T. "d H the twa..
...uUr. uur ,u. Kwing's- rolutlon waa in.
ss. 'r,' p-n-r.r.r,,gwr"io:
aiuek on Lxecu.iv. H'cy j therefore it .tb . -
f.ened modlfind qd.fil. ,o.d. to SnuTlW
harh io the ear. f ,K lft
aa.n a plausible, polished. rnotTen.ive ehaweir
oT i EllPcul". w be moulded and , ' , t .
asl iuiiaJ hat it a,,ght Irsve th. .l&et J , !- t
ndd,g ih. count,, -U ,b obnuxioe. ord-rV.ad f -at
W"",' Be Tnfalbbik: , 1 -
- n..i . ,o. io b.,,8fi Wlib mH moZyii rt
he saw in that .......... ' .
IlilllHea. a ulMlanlial M.....I . i ' - .
iwu
'V
ii. , . , , ..(.., vi n oroer. "
are l,.s.l,,e.,d he axpsc, n flinching j, , 3 - -you
a,eh.fcad.e,H.Iy,hereSp.t.l.yon
lea for carrying your oppusiliw, t. the full l,m, ; ,
r liiMinuble. warlaie. . .
t'entleinen. I uiimi ain,.i ...... .i
f H e Preaident in regard to this bill; and. cer.
ta rdy iiiual highly diaa,,pr.,t. il. But J lo Ml .
auih r Urn miiriiticaiiw, uf having aiiinptd to
disau.se and garnish it, in urder to uialir it ao- '
cepintde, ,m ol gull finding il ,!,, Uok in
ny I'tce All uut .rt.uu.ed by Ho. ,-,. '
lous, diplomatic, ad uver-coi.ro-.... ..Ji V;
'"-'"iing :.ajas was a re.pu.,S friim ihe prVii- "
dent AU.irnpy (i,, ih Um till in ques- '
ll.m was I'b.ctiri, lll-inMHil. ..i .j ? i. 4
ui.dersi.Mi - ri,8 biii. ,he;Bii.: r '
approved nor lieomved. . If ll had hL.n ,-
pioved, ih T,ai(u,y ofder WUll)d to annulW," 7
ihuugb iu a elunisv and obineiWhU
i.egalived. and rulutned lo Coi.irr-.. ... J.T..K. "
it would hare bean passed by two thirds uf both -
Houses, and in thai way tecum. a4wr and atx
roaaied llie ordr. Uut it was n..t ni.r.....i i. w
was not returned: it waa retaiMJ. ! k.a ... " W
.d ilia Seuata in ii,u ; a had been sent loth
Mouse in season; but tluira it um anir.,.J ii.
so long w.Hioul beim called up.htt-,t..
couipleiely ,o ,h puer oflh. PieWdeot, when
...i.i.j, I.MWN1U inui oouyi mce.he is m,t btdiiitd
to re.u.n u.lls, which be dues sot approve. It not
presented iu bnu leu days beloie il.. end of ih.
iession. 1 1 1., bill . ly,,, then.fore.and lb. ' '
ire.Hury order reruaiii. io '!..-lJeiraio. -be
fepresniaiivwiii(1iePeupl.i both Uouaee. L
Coiigrepjy majtniieBlinii unprecedeoted., ,
ySH!itetfah. thh vbaiMtwiie wjer.'"' Uay -
..aroiy any auiyeci, llideiMltuaopioiu-Wwo '
onamtnooi. either in or uut uf Congress. YaT
iir uninr miiiB.iis,
And liuwarHiiiltinieri.l ask vou.S 1 mk .11
who have not vuluuianlv atirriid.,i all ......
and alt right of thinking f.r4baoielv., whath-
er, from IttJi lu lbs present moment, lbs Ex.-
eulive auilioniy h llot .fl-.H.-tuiJy superseded
r,nor oi vongiew, inwanvd the ml), of the
repiesemaiivea ul the People, and even oi the
People ib,,,i, and taken the whole sub
je.lul llie ouirency intuits own grasp? Jn
Congrea. desired io continue the Bank of
Uih I limed gules, and a major.ly of the Peoida
d. sired it also; but Ilia Presiden opposed ll, and
Ins will prevailed, lu 1833, C.gr. refused
lu lemove Ihe dcpoailes; t, President 'is solved
upon a, Ituwever, and his will prevailed. Con
tfresahad never been willing tu irikks a bank,
louiided on ihe mousy and ciedil of Ih. Govern-uu-ni.andadinioisiered
of eouise by Exeeuiiva
hands ; bul this was the PreMd.nt's jci, tud
h.- attained it, in a gr?. men-ur. by in. Tr.as
uiy se eciion uf deposit, banks. this partio
ular, Iherelore, to a great .Xlent, hi Wlh f ,a.
vailed. In ll.tll, Cniigreh refused In confine "
Hit- receipts lor public lands tirguld and silver;
bul i li o J'r. siueni willed it, and his will prevail-
J In IMJ7,buUi lluuhesiii Coiitet, hy more
iiian iwu nurds, passtW a bill lor restoring the
... . i
U il i ,fi 1,1 lJU r lj iti "itu hiivin n luht tl lo j ("Miirf tiutti u( itiHigfi, annulling ihe i reittu
i mi f t'l inu a i V ncu I T.ciii'iii'iv I UIIIIIiA'IIIJIIIi? U V liAt'CUl V llfVV4r 11 1 1. 1 if I 1 1 t k.iin. t. . . 1
" ' 4 1 " w '1 o.m "u hi i 'ir i - , r.
bailee, anil, in his leiu.r lo the bi cietary er selecu-.l nie .daces for their future -keen-; lA'8,,"B ,,w 'f:"mry order was issued
j . ..... . i .. -. i . t-r . . . . I - . - " I . ia, i i it ill :i iii I . i wr lli'il ...v., it...... ... I. .. .1
hinting very distinctly- atpol ittcaf Cinlsider
aiions ss ttiL1 grouud ol tlio movement.
'fwied by a guaranty , signed by niie or more
Nsible persons, in the following lorrn, viz :
I 'I'l. . i n .
ue unoereigneu jua rainy
Now.there are two or three things worthy
of especial notice, Ofie is 4th it .during the
whole of tins heated political controvert .
'"front
from 1825 to 1829, the party which was en
d(viiriiixtO produce thaoL'eWf-ertnTiTns
j!lMSMiirWnng--iii9 tratroireroligiit no charge of pdjtj.sy.l.jtuU!
u u icixouiu--ici-nr- snarniirnriTri Ttnh uf i .a II.uIa.I
If any, thing) it was
W PaBtffiiif"eTtneranTliall enter n.io an
?tiun rior to the 1st day of September next,
" good arid sufficient surel.os, lu perform ihe
;,c" phipused"
his should be accompanied by ihe certificate
Ptmaster, ur other saustaeiory testimony,
'e guarantors ire men uf property, and a-
make go.l their guaranty
aexeroptron from this requirement is allow
'JiLfnldotriKttwrsv'rsrod'fi JJ other companies or persons whatever.
Proposals should be sealed, ami addressed
First Asaisiant Postmaster General.'
1st March, 1837. .J . ".
"il3-(wJ9 ,
"..HOBkllT 8TRANCE uf tne U..8.
M lu deliver the Annual Address before
o Literary Societies, at - the comroenci
' of our University. " , 6w49
; NOTICE.
UOKS-
-arB-How 'ope n at the Office of the
Watchman and at the Store of Geo. W
n.tjttb Towe of Salisbury, fur sunsetip-
- . --I-" . wvt ui r.rciivviiiv aim
Stales. If any, fhinffi it was a favorite with
tho party generally Certainly, the party .aa
a party, did not asenbo to it undue attacli
racitt to other parlies, or to Ihe existing Ad
ministration.. Another important fact, is, that, during
the w hole of the same period, those w ho
had fcfrprii8;dtfie-eotr of Gxn : Jackson
and wtui sought to bung about a revolution
under his name, did not prospose the de
struction of t lie Bank, or its discontinuance,
as one of the objects which were to be ac
eotiii(isljrXIb'thelopisicl f resolution.
'I liy did not tell ttje coo tiy that the bank
was iinconslftuiioiialj ihey did not declare
it biiucci-ssary; they dtd not prrtiose to gel
along without it, ' when Ihey siould come
inio power themselves. ' If individuals en
tertained any such purposes, they kept them
much to themselves. The party, aa a par
ty, avowed none auch. A third fact worf
Otlii't ( l.ii ins in the service ol l.te Goveru-
mei.t took at. intcnsl in I'l'' matter. it urutd ! inaile, and llie nuliiuj iiioucvs were ili-iins
init. Par miliar ha..U. .....i... I 1 iniiiiiiiioiiig mat very tiling to lie done
Stale thainis, were chosen.' With U.esc. W,,ul! ""Uri'H had been requested to do.
especial and .particular arrangements weiei
made, and llie nuld U! llliilirl w wiii-i. .li-ii.iu. .
te had refused to do Jusl as in the case, of
a change; and the S-'r tary himself role
the bank, gutstnig and rccoiiiineiidiu if
The tune had cons', then, for the bank lo
1 jkc Ats.4iQSitum.. .It did Uk it; St ttr my jii Ig -Hunt,
if it had ti'ot acted as tt aii, n-.t
only would those who hid the catcof it have.
I the removal of the dcposiics, the Executive
lied in In, ir vaults. Ilenceforwaril t..ese M,w" d.. V"" ,,aHt! aUo ai"'"'1 X ic
sele.:ted banks were toonerateoii the rev- h""WH! w- "i". and reccnily ex.
been h'ghly censiiiHble,.Liit a claim wot;d
wrtrr-ovrrTn'neT oTIaws, .anil subversive
of the very foundations ol republicanism.
A long correspondence between the Sec
retary of the Treasury and the President of
the bank ensued The thiecjjors determin
ed that they would hot surrender either
their rights or their dolies to the control or
supervision ot toe jbxecnlive uovtruiiieuu
were to operate on the rev
enue and credit of the (Jovernmeut ; and
Vius the ongnial scheme promulgatei iu
Ihe aimtial 'message" oF December, IHi'J,
was substantially carried Jnto jjlTectllere
wrrcUahk chosen by the Treasur' ; all I
, r l ' -i, ...
wiictiu.c legislative win would nave sanc
tioned the object ol' that jrder j ..probably,
never a moment in nr h1cfi"anyl w eiityjndi
TJaWeen yTcTdeJhN .mt.rely: i.nnsmU:.,ulJjllli..stfxgueM w,uul
.. .: , ,-rr 7 ....... i .... .,- . .. . . J. concurred in it. I lie act was ilnnn will..
me treasury ; a sel ol duties prescribed . ., . , ,
to be performed hy tl.cin to ll.e Treasury, I uu"b "Mt "rCu8re": " gmel ll.e
...! ii.h h .L. ... 1...1.1 ... ...i...ii well-known opinion of Congress. 'I hat
icl iijion it, by iimkiiig any alteration iu the . r 'd.-r; but the Pissiiieui willed, urn wuhiland-
in, niai me oruer niiould r. u.ain in hues, and
bis will again prevailed v 1 repeal lb. ueslioa,'
tin n lure, and I wuiild piiltl earnusily iu every
niieliigeiit mail, to every luvtr ul our constitu
tional liU rty , nre we under lb. dominion uf th.
law, or has Uut effectual government uf inn coun
try al least iu ail Ihat regards lb great
est interest uf ihu currency, uusu in a single
liaiul ? i -. ' -
G. uileinsh.l have diuie-wUb (be narrative of
events and measures. I have done with Ui his
tory ul ilose tuioeswive steis in t he pr.tfrt uf -'-Exeeurrre
''puweriwaaTa coiupleie cuiitrul fyss
-th wuftrf -trw correCTy-"
The result is now before us. The ure tended
prtssed will of the representatives of the
People. There never lias been a moment
proceeds of llie public revenue.
Iu all this, Cougiiss had neither part nor
lot. Mo lajr eaused the removal of the de-
posites; no law had authorized the seicafiirn ft
oi deposile. Suite banks; no law had mcjuhJ iwHhxmfc?g'TBee
JMo'j janj tbey wiTi';Ti'The revenues should whatever in the. Constitution, i
tois-of ilieir branches on political grounds,; be placed in such banks. From the beginiug ; Uw. for this -Treasury order. '
act altered the law or the land, or purport
ed to alter it against the, well-known will
of the law making power. ' '
THE TllEASUKY OliUEIL
no authority
or in any
Those who
and they would not remove them on such I ol the chapter lo the end it was all an Ex-'l have undertaken to maintain it have placed
grounds I Hey nau avuiued politics I uey ecuiive euici. And now, gentlemen,' I a-k on grounds not only' diilereni,hiiltHroiisir
h'a I sought for men of business, capacity .Ik if it be hot ieutarkablr;'ihat'"ifii,'; acuutitry, . td-cradwtw7..--.l'iie teason .whteb
delay and epericncein the nianageuierrt wf f prbfessiiijo gives another i ejects r oner confutes what
pecuniary concerns. - They oWed, duliesr laws, such great and miporiaiii changes in j another argues. ' With one it isxlhe joint
they said, lo the. Government, , which they 1 one of its itioat essential and vital interests ; resolution of 1810, which gave the author
meant to perform, faithfully and iuipjrtially should be brought about without any ity ; with another it is the law of 1820 ;
under all Administrations ; ami they owed change of law, without any enactment of j With a thud it is the general superiuteiid
duties to the , stockholders of the bank, , the Legislature whatever, is such a pow- ing power ol the I'lesident -and this last
which required them to disregard political er trusted to the Executive of any Govern- argument, since it resolves itself into mere
considerations in their appointments. j mint in which the executive is. separated ; power, without stopping to point out the
This correspondence ran along into the 4 by clear Si .well-defined hues rom the leg-; sources of that power, is .not -only-the,
fall of the year, and finally jermmated in a ; ulativ'depajtmeut.L Tlwuw juai ife
thy of all notice iavtbMxnioiMW4ifiod' eiern Villi UM)ln1iu6iirilgc1ata1tfu."inad5'''6t ' couiiiry taade on the' same general ground is, ihe most sensible as well as the most
reforms, these extraordinary exercises ul power
from extraordinary zaal fur ihe good uf th. peo
ple what have they brought us to ?
We have, witboui all donbi, a great amount of
siecie iu ihe oountry, but it does not anawsi its
aueusioined end it does not Mrli.nu its prpper
duly. It neither goes abroad lu settle balances
against us, Sf thereby quiul iliose who hayejlfl.-
there was no complaint about Ihe stale of
the ruirency. either by the couutry, prjfj
the parly' then in iippbsiti'oii,1"7! v-" . -
I -In iV1br..l IQt.l I.'.a1
tern H "l li x " -. ulihi, ,giir, , utn iitwii wu iuu-
1M3 and T837OD th"A?U A?U I 8uratef "" " on professions of re-
tiib ' ' ' . j lorni. ' He Anoouuced rciotm of all abuses
lUfi ;0MMISSI0NEIiS. to bo the great and leading object of hit fit-
the directors, aud transmuted to the Secre as the. commerce of the country, lloih ( candid rcasoimr, in my opinion, who pla-lary-of
the Treirsury, that the bank would are intimately connected, and built are sub.- ces tins Tteasory order on ihe grouud uf
continue to be iadependently ddmtnisteredr jecls of legale not of Executive regulation. ' the pleasure of the Executive, ami slops
and that tbe directors, once lor all, refused It is Worthy n notice, that,, the writera j theft. " 1 regard the. joint resolution of
lo subintt.to the supervision 'ol Ihe Exeeu a of the Federalist, in .discussing- ihe ouwm ; l&ld -roaitdat6ryj "iis presei'ihing a legal
tite authority, m any of its branches, in , which the Consiilution cuulerred ou ihe rule ;' as putting this' sunject, in which all
the appointment of local directors and i- President, made it matter of com-' i.'!aAion have stj deep' au intereai, beyond the ca-
lu sustain the circulation iu the xienl which
the eirciunsiimces ol the innei riquire. A glVJht
part ui li is in the Western banks, in lbs land
nlliees. An it tier poriiou is in the hands tf buy- -
eis and wlltrt ol fc-co; ..I' man in tne est, .
wlios-ll laud uJh(!einNity to the tww aeiilerS 11
for a 'high premi.iiH-r-Aaoiher portion, again ie " T
kept in pnviie liuris, tu be used when circum- '
stances slmll tempi to ib purchase of lands.' "
Aud, gen I. men, I am inclined tu think, se loud
has been thu cry aUiui haid money, & so sweep. -lug
ih denuncianon ul all paper, that piivata
liuldmg, or hoarding, prevails lusutue extent, in
different parts uf the oountry. . Theso eighty
millions nf specie, therefore, really do us hole
good. VVe aie weaker jn our ciiculaUuft,JJiv
ou duobwur redit is leebrer, money is scar- " T""T
cer with us, at this uiuineut, inarr if ieoty v'
milliuns of Jbl-i.ii -ere shipped tn- Ko-
ropo, and general coiifiJt-nce lUe.ieby tenor-
ed.' .- ' -. -'-
'Gentlemen.! will not sap tbat some deiiTM -
nf pressure inigbi not have corns upon us, it the
Treasury order bad not been issued, t will not
say that there 'has not been over trading aud
over priNlii:li..n, and a lis greal expansion ot bank
cm-uLnim. '1 his may all bo au, and liio last
i