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i - IT0.42 RALSIGH, 17. C. FRIDAY, OCTOBER II, 1S33 vol. siav ... , ii'i J jiT-ViiS'l iiiiBiicu it inc iiuciuc oi tne nan. " v . cistoa epon its preteostdos. , Those . w.hom the Bank appear to have made its debtors fur the special pecasmn, were warned of the rain which awaited HIUMII, WKSKtT, BT LAWRENCE & LEM AY. I tkre doiian ncr knnumlDe them, should the Presideot be sustain ... -, e -J . I ... i.4. ... .1 be allowed to reraais in arrears lonrer the people by painting the depression .ia aoC Tear, anu iscrwmw mmcm w unum mm . 'X h deirt ,0 beeome "bieribert, the pnee of property and produce, Jill U itrietly required to pay.; the whole and the general loss, tnconvenierurev -WH,toiine jr ranicnmi une, - 0,i distress, which it was represented k"SJTrr!3 Lwould immediate! follow the re alec- In enuoreeheontinoiiee. : . . tion of the President in opposition to Jnt to the Editors matt b post-paid. lne Bank. from llbirCtobeT iUptantieV . j&"'"T (THE PUBLIC DEPOSITES. It has been generally known for some Laths paat that the propriety of with' Ltwinr the public deposites from . the 3ink uf the United Statea was under ! Vtatideration, and engaged much of 1, attention of the President and of 'ha ''dilereot members hie Cabinet, ll of whom had been called upon by bhe President to assist him in his de liberation! on this subject. 'After a ttj full and careful elimination, the Tiesident came to the conclusion that ynt public dejHJiiUa'oughOoJhjin y to the State Banks, and his Opinion C. ..nunniticitfil ' in wr'uin to his tl. vvi'""' - n f ICabinet op Wednesday last, at a meet fJrwtw'inttinfc was not de tided at the election which ensued? Had the Veto been equivocal, or had it not covered the .whole ground if it had merely taken exceptions to tie de tails of the Bill, or to the time of its passage if it' had not met the whole ground of constitutionality and expedi eocy, then there might have been some plausibility for the allegation that the question was not decided by the peo ple. It was to compel the President to take his stand that the question was brought forward at that particoJaxJjjna liberal course towards those instil u- ? hstthe- Secretary nf therei-TTl;ralnfdrTw'elaiiT TS'TvaTTTkn m tFariVi' wiiS3rawarTthe public 3epo-- dtiaagevor none' beyond tons triflin ' iutj win iiwim iic unposeii. to support ih credit of the State Banks, and will invariably direct transfer from the de positee of the public money "in aid of their legitimate exertions to nuiotain their-credit;" and he asserted.-ight' to employ the State Banks when the Rank, of the United States should re fase to receive on deposits the notes of such State Banks as the public inter est required should be received in pa; ment of the public due. In several instances he did transfer the public de Caw it mw-wet He met the challenge, willingly took inp posmoo ihio wiucn.iiis aiicrane sought to force him, and frankly de clared his unalterable opposition to the Bank, f w- bvth-trocnttf ettona and inexpedient. On that ground the case was argued to the people, and now that "the people have sustained the Preside&t;;0wUhsn Cidifinw-TOiarep Wore . the people the ; communication jbrouB;ht to bear upn him, it u&oTate, hlit neciall v foe that Darnose. end W factf end ruasone on which it was ?fqnded. 1 As public attention hat been Wvn to this aubjectnt Is deemed l.iisirAft-'TireirRiAnef 'made by the President as ebove men- lionedj aoU e copy nasDeenurnineu !io ua for tharpurnos now Cnfal in nuhlitn. .. :' Jl W W r j- - lta$ to the Cabinet oii the Wh of 5q- tember, 833, : Having carefully and anxiously coh- lilrred kit the UCIS anu r(jumenn, 'which have been aubmitted to him, re i,iiB iq a'removal of the public depo- iiteawfront the Bamc -otthe AJntteuj Statet, the President deems it his duty ts communicate in thie manner to his. fflhrneC the final tonctosiom of biewa mindi.JLbtl.the iren pJhlThejl ire lounuea, in oruer i ui . durable fHrm, and to prevent miscon H trptione S ; " ITmi President'! convictions of the 4igerous tendencies of the Bank' of the United Statea aince signally illus trated by its own icts, were so over powering when he entered upon the Qottes of Chief Magistrate, that he felt it his duty, notwithstanding the objec tions of the friende by whom he was iPTBlHrteilrttrtv he confidently thinks, tossy that the question hssnnjLbendeguIplt;-What! ever may be the opinions of others, the President considers his re election as a fdeckioft f the peftple. jgajost the ank . In the concluding paragraph of his Veto Mesngerrhe smd ate vTcimtiCorCFanclies, Tie -ieasons connected enty with the safety of those Banks, the public convenience, and the interests of the Treasury. . '.. ' If it was lawful for Mr. Crawford, the Secretary of the Treasury, at that time, to act on these principles, it will be diiTicOlt to discover any sound rea son against the application of similar principles in srhl stronger cases. And it is a matter f surprise that a power which, in the infancy of the Bank, wa freelv asserted as one of the-ordinary and familiar duties of the Secretary of the treasury, should now. be gravely questne cite aotPajarm the public mind as if some new and unheard of power was a ut t be uuipsd by Uiv Eiecuiive branch of the Government. It is but a little more than two and a half years tt the termination of the charter of the present .Bajikje lt ia coB': jiderefl..as the decision of the country IflartrihaTrrrien-eTase ton tKVrtna no man, the rresinent oeiieves. nas rea wishes to abstain from the exercise of an l insincere, would haveiustified the dollars "7 fj' at riim.asea.whea 4.o... hjujuui p iwtjrj. an'i is avoi.i an in msrani wiinurawai i me i-uouc, nepiv-; aim-ige, or none oeyond tons trtnin" terference with the lights and duties of sites, The nrsociaiion itself rendered expanse has in fact been sustained, and Other, be - must yet, with unnhtken doubtful .the ability nf the It nk t meet when the Bank had in its own poes- 1 constancy, 'tlitt-hiarge lsi-aria 4lig. -.th "ilenands of the Treasury, and ibeeian on depffsite, several millions of theJi tiohs; and cannot allow himself to turn mirepresenlation by which "it was at-; public money which It was then using ' aside, in ordr to avoid any reponi. tenpteJ to be justified, proved that no for its own profit.. Is a fiscal agent fo , wJtvjvaiCftjnEJiijT pa p'ageUap in thus seeks to He has been h tnored, requires hrn to gtti-ns. enc'oanter; and it bein; the duty of one If the question of a removal of the of the. Executive Dopirt nents to lie depoites presented itself to the Etecu cide in the first.instance, subject to the tive in the same attitude that iUPpear futare action of tht lej;islativ pawer, ed before the House f Representatives whether the public depiisites shall re at their last session, their tesotutioo Tn nam in the Bank of the United states relation to the safety of the depositee ivTtTTdra w n some" tiineFeforeT the Fr- thiiu gjnhTdecTuo sident nas felt ITiroscIf bound to exam removal has been confided by law to a ine the question carefully and deliber- nother department of the Guvernment.; ately, in -order to mike up his jut- But the question now occurs, attended ment on thesubject; and in his opinion, by other circumstances, and new dis-i the near approach of the termination ufTciosures of the most serious import- It 1 tite charter, and the public considers-, is true, Hiatin 'ie message of the Pre; sitlent, which produced this inquiry anil enrich itself at the expense of lhe pub tic, worthy of further trust? 'There are other important facts noi J; in the contemplation of theMIouse of Reprfsrntatives, or not known to the riitilitinn. -i' ' . . - ,. - - ''- tions heretotiire inenli'inea, are:ot themselves amply su!tir.ientto justify ih removal of the despiwites wiihtiut reference to the conduct of the Bank, or-thcireafety in its keeping. But in the conduct of the Bank miy ho found other reasons very imperative in their character, and which require" prnrnjftcTiiHivw DevlopteoiSfehve been made from time-to 4ime of its faithlessness as a public agent, its mis appUc&tion cdl.pu!uii ferencfl iq elections, its efTorts, by the machinery of committees, to deprive the Government Directors of ai full ka o wle J : f ilt eon uef Sj jsbjwe all. its llazrant misconduct as recently resolution on the part, of the Hmise of Uepresentatives, it was his object to obtain the aid of that body in making a th 'trough exaniinstion into Ahe conduct and condition of the Bank & its branch es, in order to enaoie me uiecuuve DepartipenLte decide LWtiethet the. pubiLllniotlhosebiidwsaume of those Uireefi The limited pnwer "of the Secretary of the Treasury over the subject, disabled himfi;o in miking the Inveatigalion aslihroo-yhic;..the. great faTiTaiirsau - a . . "a.S .e l''t?l ' " .. , . lone bv a committee of the- House of Representatives,-and hence the Pr&si to obtam ir Ui'CT'reasuryTi'cp'aTtmenT & 4'iitfsetUsyiscle4 in e4o aaiaJUfaMMadge of all the facta which f rtg'iMiiins,"' the Board Wt QMyntTgr the funds of trta Bank, including iKi oV-raHiort to 'call the attention of Con jress and the people to the question of its re charter. The opinions expressed ia his Antiuat Message of December, 1329a were reiterated in those of Oe trmber, 1330 and i&irnVih that of 1830, he threw out for, consideration, some suggestions io relatiot, to a sub iittte.At the Acasiop PL18J1-2, in act waa passed by a majority of both Houses of Congress re chartering the present Bank, opon which the Presi dent felt it his duty to put his ennsti tutional veto. ' In his Message, returh- ine that act. he repeated and enlarged upon the "principles and views briefly asserted in his Annual Messages, us " 1 iiaye now idone my duly to my codntiy. If sustained by my leltow citizens, I shall be grateful and huppf? it rjotl shall find in the motives which impel me, ample ground fat content' ment and peace." '.. .fie was sustaioed by a just people, ao far as it depenua upon mm Of jdi-the substitutes for the present Bank which have eq tigested, none seems to have united any considerable ponton of the public in its favor. Most of them are liable to the sameconstitu tional objections fofjwhich the present a a a Bank has been connemnea, ana per haps to al) there are strong objections on the score of expediency, in rid ding the country of an irresponsible pW?rithw-apUiL the Government, care must be taken not to unite thet same power with the Executive branch. Io give a Presi dent the control over the currency, and the poWe' :;over "individuals w- pos ¬ sessed by 'the urine uniieu States, even with the material differ ence That'Se Tsesponsili'iTlo the pen pren'Sutd'"bras nhjectionaWe-and- as dangerous as to leSve it as it is Neither the.one nor the other is neces sary, and therefore ought not to be re sorted to. , Un the whole, the President consid era it as conclusively settled that the rharti-r of the Bank of the United son aiil e ground-fur txpefitaiwn tbat anyUnoney of th & verment thy iftf other psnx ot the united states win be created by Congress. To the Trea j ury DepartmenUs entrusted the safe keeping, and faithful application of the publie moneys. A plan -f collection qioerent from the present, mttst there fore bj introduced and put in complete operation before the dissolution of the presenf Bank. When ahall it be com menceJf;pShallio tep beHUike; io this essential concern until the charter expires, and the Treasury finds itself without anazt. Hs accwms m cohiu sion, with no d-pository for its Tands, ern ill or i n-M iyf- tMi, ; the 4wtrtW:wnoly oosit'mn of ths President of the Bmk as means of operating up.in publie opinion and procuring a new charter, wi t hn o t req u i i i n g lii m to rend ef a voucher - for 44ieir disbursement. A biief -recapitulation of the facts which justify these charges, and which haye tome to me Kn iwreiise oi me puunc and the Pesident; will.TO thinks, re- move everv reasonable doubt as ta the Course which it is now the dutyof the President to pursue We nave seen that, in sixteen mnnws. B ink had daring the Bank to be,, in his opinion, both ioexnedient sod nnconsitotional, tml announcing to bis Countrymen, ve rv anenuivocallrr his firm determina tion never Jo sanctioo, by bis approval, the continuance of that institution, or the establishment ot any otherlupon Iiinilar nrinr.lntes. - .m - -f . . r---- , ...... -TJiere art strong reasons ior oener ment deranged?, Or ahall it be delay ed until six months,, or a year, or two yearsTefore the expiration ot the char ter? It is obvious that any new sys tern which miy be substituted in the place of the Bank of the United States, con Hi not De suuueniy carrieu una ,ci- tect on tne lerminauon ot us existence without serious inconvenience to' the Government and the people. Its vast amount ot notes are then to be redeem jeiL.aridwithdrawn from, circulation, dollars, although it know the Govern ment intended to appropriate most of its .larse dep Kite duiina; that year, in payment of the public debt. It was in Mav. 1832. that it4 loane arrived at :he maximum, and, in the preceding March, so sensible wis the Bank that it would not be able to pay ocr the public depite when it would be re quired by ' the Government, that i commenced a secret negotiation with ouTthe approbation or knowedge of the and its immense tlfhl fVitff . T1 -i i n.,iramnt: with the' synls. for a "werF necesisaryw-rtrtde bW- judge4. Hat it was not- w purpose,"" we wrr- guage of his message will show, to ask the Representatives or the people to as sume a responsibility which did not be long 19 them; agd rerteveilte JRxyeiitive ttrincliMiha Unvernment from ttiequ ty which the law had iraposed.upon .it. It ia due to the President, that hia ob ject in that proceeding should be dis tinctly uuilerstood, and that tie snnutu acouit himseif of all suspicion jof, seek tnjf to' escape frotinlh performao.cl his flwn duiiesror of desiring to inter nose another body between. hunselJLaad ;t:T T'r'l'f''".'-".-.! a- ia -i.l u"a' IttO- pcvpiOfltt'WUcru aiuui. a wuiK wlurh he it called unon to meet. . But altlmuzh, as an act of justice to himself,! he. disclaims any design of soliciting lhe opinion of the House of Representatives in relation tri "his own duties, in order to shelter.himself from responsibility un tier thesancti'in of their counselryethe is at alt t'nnes reader to listen to the suggestions of the , Representativea .f the people, whether given voluntarily or upon solicitation, and ' to consider them with the profound respect to which all will admit that hiy are jusUy entt tied, uhatever may be , the conse fhrHBank'bothTfectare thar"" fcot Usf than seven directbr shall be neeessa . ; ry to the transaction af business, yet , I the most important business, even that 1 entrusted to a cnntoilttee of five mm bers who do not report to the Board. ' - To cut nil all means of commonica- ! tlon with the Government in relation to f Its mo -t important, acta, at 'the; camv mence nent ot the present year; not oni, of the Government Director was pla ced on any one committee. And al V. lUooih, nincf !f to unusual rcmode elude committees, they, are yet entirely es- -; i e. from the committee of Exchange, f ct aid mukt" -.- ' t ueen maua. at When : the Government 'Direitore t made an eSTort to bring back the busi nssvof the Bank to' the Board, in obe eubid Jheif Atiemptbuialteretl the ruliA.' so ttt imiKelttrtnfiifnt to theprafclicer:i: I in diiect violation of -one of thernitt important provisions of the tharterj L-Li. f which gave intra existence. . , ft h w tien trniw 4hat the Pre i si'dent'of the7 Bank, by hia sipgle wil,.j" ' 1 -t:" urijjiuairi anu carsuiri waii ui ,MC j mnst important measures ! conoectetl 7 with th in'anagemeqt and credit of. the jprf Dank, and that the committee, ss well, . I as the BoaCd of Directors, are !ef -iin entire ignorance of many acta onexand,gjSJ cm resp'Midence carried . n, in their,.rf 4ia4ir-ai-tppireiiiiy anaer neir so thhr!f.'"The-fict has" been " recentlv liscltisedi that an nnliinKed diseretitin . - riasueen, ana m now. vesieu in tne i rp-, sid'ent of the Bnk i expend Its funda in payment lor prf paring anu ctrcuia-. ting articles, and purchasing pamphlets and newspapers,, .calculated , by , their -contents to-operste on efectjions, and ae- . cure i renewal of; its charter- It p fear fitn.; the iofficiat ref 01 1 of the 'ublic Directors, that, on the SOtl. No-"t vember, l83Q,(the President submieirr toe Bard an artiJe published in the American (iuarterly Review, cnfaio ins favorable notices vr the Hank, and . suggested the expediency of giving it a' mutu, and" S.. . wi.l belcent. smck, held in Holland, with' a finally Torm hi, ud much suffering and distress will be hrmitrht unon the communitv. It ouzht tb be'iiot a work of miinibS ii1y; biii ofi ward fur p tyment f.rrttner iTtfre years view of indutins them not to come for- years, and the t'resuient minks it can not, with due attention to the interests of the people, be longer postponed. It is safer to begin it too soonr4haa4o de lay it too long. It is for the wisdom of Congress to decide apon the best substitute to be adopted in the place ot the liaok oi the after notire should be given by the Treasury Department. This arrange ment -would have enabled i4te4Jaftk-ta keep, and .use.during .that ti.oc, the public money set apart for the pay ment of thwe-stodesr- rrrr After this negotiation had commenc e1.-the-Secretary of the Treasury in formed the Hank, that it was ins in. IT.iitd 3t!iti; and the President would ' have felt himselflieved from a heavy tention to pay off one half of the three and . na'itiful -rrannfiaihititv if. in the per cents on the first of the succeed l-iMd, ami tia-haalu.-.-.. ... iw RltCamgtaa hait in? Julr. which amounte'l to about 0141CI will uuv wo . w.., -- r vnarici n v.- - . ---r t i " ( . ' )( that the motive of ihe, Ban't in ask m for a re charter at that session of Congress. waa to make - it a leading qoestion in the election of a President of the United States the ensuing Novem Jwr, and all steps deemed necessary; were taken to procure irom me people I reversal of the President's decision. , i ..Although the charter waa approach ing its termination, and the Bank was ware that it was the intention of the Government . to use thoublie. aespo.;' sites as" fast as it accrued, in the pay Sent orthe"fuWic""aeM77etdllitx tend its loans from January, 1831, to Ma v 1 832, from - g42.402.S04 24 to Rro'.428.070 72, being art increase of S28.025.766 48, in sixteen months. U is confidently,' believed, that ; the Wading object of this immense exten sion, of its loans, was to bring as large a portion of the people as nossioie un mi reasonable ground to believe that nr substitute will be established - Being bound to regulate his course by the laws as they exist, and not to an ticipate the, interference of the legis lative power, for the purpose of fram- inX.vne systems, n . jirici i aeaonaWyattoniuerave yj whicb jhe' services rendered . by the Bank of the United States are to oe performed after its charter ahall ex P The exVtin'g law's declare, thaf " the deposites of the mbney of the United States, in places io which the said Bank and branchea thereof may be es tablished, shall be made in said uanu, pr branches thereof, unless the Secre tary, of the Treasury shall at any tune otherwise order and direct, in which Case the Secretary of the Treasury hall4mmediately Uv.bef)re Congress, if in session, and if not, immediately after-the commencement of the next aession, the reason of such order aou direction." . The niwer of the Secretary of the Treasury over the deposites, is unqual ified. The provision that ne snau re port His reasons to Congress, is no iim- UadJJLJo.tJbeen1nserteii, ne j .. t..tr i.. nf itinrnnv - 6.500 .(KK- dollars. -The- Prelnt-4ifJ ci f cu m un" j. ...... w. , - . . tti niiiklit miinev in tie the Bank, althoush the Lommittee ot elsewhere dep!iled, and had not de I that mwer exclusively on one r .u. p,.,,,,;,. n.-nsrtmenin. It i atelr tr VVahw2Miti-awHiiFwt-fenre useless now to inquire why this hishiseniing that the Bank was desirous of and-imnortant power was surrendered accom nodatm? the importii Investisiiion was then lookmv mto its affirs at PhiUdelphia, came immedi the constitution and the law makes il his .du ty . 4o -decid 4, a nd must act Ze. cordingly; and he is bound to suppose that such a course on hs part, will ne ver- be regarded by that elevateil body as a mark of disrespect to itself; but tlia't IHI'vwtlL'on "tttetonrrlfyrrsteem rt4he strHngetvHlene he can give of his fixed resolution conscientiously to discharge his duty to them and the country. . ,1 . , A'new state of thi'ngs.has, however, arisen since the ctose of the last session nfConeress. and evidence has since been 4aid before tue lVesidetiLL htch Jie is persuaded would have led the House of Iteprescntatives tiJ a uinerev con clusion, if it had co-ne tii their know? ieltsoandiraerjTindTta beea difclosed. thai some of the largest would fcm j P"toc a?2 soma were granted on very unusual terms to conductors or the pontic press. Jo some of these cases,- the motive was ' made manifest by the nominal or insula- . ' . I r." .Urn' tnana k "noi lecnriiT ia&cu ior tun iu, the large amounts discounted, by the sxtraordinarT time allowed for hay - ment, and especially by the subseqoent conduct of those receiving tae acc:n eaodatibosw , , v j - Having taken these preliminary a'eps to obtain controtover "public opinion, the Bank came into' Congress and ask d a new charter Tbe obiect avowed hy many of the advocates of the Bank, s to nut the Pretidenl to Vie test, that Hhe country migh) kww his final deH lermination relative to the - liank prior - tathe ensuinti election. Marir clocaC: ntsiod articles werti . prlntedj- aod; gress, had he made a removal for any other than good reasons, and his re sponsibility now ceases, upon the ren tliti of sufBeieot ones to Congress The only object of the provision, is to make his reasons accessiaio i " and enable that body the more wdiiy to judge of their soandness and a . ..tT - mi l a a ia K purity ami inerpupoii ma-w " further provision, by Hw. s the legts; lative power may think proper 10 rela .. it,- dnnaite of the public money. Ti,. raanns mav be very diversified. It was asserted by the Secretary of the Tr.nr-. without contradiction, as early as 18lf , that he had Pw " control the Droceedings", of j"', aia of ' the United States at any moment. ,.k- tti drnosltei to the Stati Bjaks.M shoaid it Pfrsua ao - br tltrne, who ape 'peculiarly and appro priately the gaardiana uf the 'politic ; mon e y 7" Pei ha ps was a n oversightr But as the President presumes that the charter to the Bank is to be consid ered as a contract on the part of the Government, it is not now in the pow er nf Congress to disregard its stipula tions; and by the terms of that contract the public money is to be deposited in the Bank, during the, continuance of its charier, unless the Secretary of the Treasury shal' otherwise direct. Un; less, therefore," the "Secretary-of the Treasury first acts, Congress have no pnwerover-4he ject,JarJiey can not add a new-clause to the charter,lir strike one out of if without the consent of the Bank; and, consequently, the public money must remain in that in stitution to the last hour! of it exis tence. unless the. Secretary , of the Treaaury slall remove ICat at rarliir lay. lhe responaioiuiy is inui iinuwn nnnn the p.xecuiive oranco wi ioo a vernment. of decidinx how lohg bo. fore the expiration ot the charter, the J . ... ! 1 1 M ? . . tk .t.nn I pU3'IC inieresi win rc(uiv b site's to be placed elsewhere. ' And al though, - according to the trame . ami principle f our Government; this de cision would seens more property i oo long to the. legislative power, yet at thejaw has Imposed it upon the Kxeca ilm nenirtment. the duty ought to oe faithfully and firmly met, and , the de cision made aoo executeti aponnne Hett lights that can be obtained, and irt bet iudgrmehtlthal can be formed, (t . would III become the '-; Execotive hranch . of the Govcrortett to shrink from any duty which the law imposes in it, to fix opnn ; others thereiponsi Mity which jostlf belongs to itself. Aoa"whiJa the Prtsideot. aniiously the iinp.iriu mer. 7li ml. nf Maui Vnrt fwiiirh it failed to f. . , - , , .... ... . , ;.. ,. '.V 1 tto anti-uotieriaiiJn4..iu. payjji5iiiict trots and. to.jomelcascssuhsfjinuiJIy iwi, and by its moey f mpporl$ some of te Icadinj pcessesiiitJihe counlryUa nutfjndreesrjyietaoyonij.ai est-iise.lt. procured the consent: of the j a wljbm it Wne4 extravagant suojIo i Bankf whereup'tn tie" Board paiied the- IUJsiog,ls.olll!Mjr:r- k. ; linoheil. That the Preiittmt bo aiiifssJrV:' to Uk ilcb mwit In rgrl wthe !riiUlot ' oTthSanutenttot'ilit Mi4 article, either In vhul , .k or in part, at h ma derm aaoat for ttt luteratl J 01 the uu. v ... ( . ;4 , .-f ... : - ; " ' -- v -By-ntry4B-4ne- mitluted of .Jih .H Bank, dated March llth.'ISJt, it an .. i peara that the President had not onty j caused a large edition of (hat article to be issoed, but had also, before the resO fation of SOth November, waa adopted, ; procured to be printed and widely cir ; cuUted, numerous copies of the Repurta ' at Oet. Siwt andLMcJM'DufllUaXaiL vor'ilHhe-Bankr and-n that day k iajwested the elpediedcy rf extending his power to the printing of other art des. which might sunrv jne purposes ledge Thrfacrthanhe Bank contt f fc wtatln: Wkerp.n ths folr f . . .. 1 iL' l lowni Tesoiniion waa auopaeti, vt. 1 i :HftaltMi,L. I'hat-th 1'rastOyent IS hereof ,t lhnriidliaa'iwi la b nrejmredaad eireujaud. t . I. I . . . . w.l A -I JiiM iiAl T such ataument ami paper t mT aomiirtaajetaf n So the Tjeopto InfnrmM Secretarv. after consultation with the President, to postpone the payment un til the succeeding first of October. . Conscious - that at theend of that quarter the IJtnk wouliTnot be able to nit nvmr ih drnnsites. and that fufi ther indulgence was not to be eXpected of the Government, an agent was die; patched to Ensland secretly J negof ciate wi'h the holders of the public debl in Europe, and indoce them, -by the offer of an equal or,hlgher interest than that paid by the Uovernment, to nma BaclTlti irclaims for one yeaMluring which the Bank expected thus tojretai th na of 5.000 000 dollars of public money, which the Government ahould It aet apart tor the payment ,ni mai ueoi. The agent -made an arrangement, pn- terms. ia pjrt, winch were . .in, Mreqt violatiort of. the "charter, of the Bank, fand-when some' tncidenUtcpMCled. with this secret neofciation accdenU ly 'canael.to the knawfedge of the pttblic' fore. $o much of it: as wasjalpiblyjn four Government on that-at France or : charter was disavowed. 'atut yu uifti wnrs. orwg m violation af the charter. A modification of the .rest 'was attempt ed, witli the vie w of getting the certifi ctesilhoipiyment of (he money and thisi aVsol ylrtg "the "Gei hraent ' from" its liability to the liolders II this'- schemu '.the Btnk Jwas partially successful,; but to this day the certia eates of a portion of these stocks have not beeu piid, and the' Bsnk ( retains the nse of the"moey. w-ff : This effort to thwsrt the Government in the payment of the public debt, 'hat it might retaiii tke public 1 money to be used for tffitt private interests, palliate d by pretences notoriously. anwunJcd Ctlmen,rbrhFFrenchnodmnil The purchase muney was tert in tne ase f the'Banki being aim ply added to the Trrisurf ' deposirer 1 The,; Bak-soUI th bill in EngUn!, and tne nomer eni if tn France for collection, sftd arra.cge- mcnts not having been made by the French Government for its payroent.lt it taken on bv the ssent of the Bsuk in Paris, with the food of the Bmk io thfir hands. , Under tbe circomstao ces it has. throozh it orjrana, openly as sailed the credit of the OovernotenU and has actoally roade, atul persists tn I demand ( fifteen per cent, or 158,843 St v carJ' ia tt Saw- tare ami operation of tt4 Dauk. ' !', fv 7 -r-rTHn . -Twnditure' rmrDortm'i to - hav.erbeen made under authority ; if h- incse Resolutions, , uuriug , siio .vrnrai 181 and l83,Vfer about 8U,ikjij. For a portion ,01,; these expenditure vtiie.ti'er. were rendered.'' from which ifanpeari., tne purcnase oi some nuyiirvii ,wiai , i arid copies ff newspapers; repptihig spee;h.es, made in congress, -evicw . j , of ,Tthe.yto -Message-and 'rtvtewaif i apeWs?a'''.agalnt'hv',Balltt,' etrJtV;. For another Urec oortioh noyoiich'era I whatever were Rendered, hut the Vari- ; oua mms were paid on oraers oi uie t rjiesidenror the 'Barilt,' making refers " ence to' the resolution 'of ftho Hth Marcht 183I.-V"1: W h W-'7:l : tn acertaining meae uc n . r eeiving thatexpenditores of :'k similar Z character were atil I continued,' ' the lavjl and l8J2.on unusuab time- and nominal lecu'ity.have since turned out; to he insolvent, and la others apparent. ; ly in n beftrr condition accoraniodv jj tioni still more extravagant, : onytermi more unusual,: and sometimes without l.nyyecorityhave.alsbceirheetpeslyi granted, " 'V- - );iThe allfsatlon ; which has so often, circulatetl 4rogh74heseclinnila tha thejTwsary-wa..4akriifptaod Bank wassustaining it, when, for many yearvthere'hasVn'ot'bee averasie. than six snilllons of public noj ijey TnThat ihsttto 4oth might b passed over a a harmless" , misrepresentation but when it is attempted, by substantial acts' to itnnalr the credit "f he Govern ment and tarnish the, honor of ike coonH try such charge require niore serioo attention. With sit millions of public ,. a j - . , - J.f. ' a . I CUtllawUirr vTCIV - Villi vw"vuivi . siaw jneeiiw Directors a few weeka tne oae oi irnm uo iwin "i r.ir nine vears. wilhont interest, it be came the purchaser of 4 bill drawn by ant) offered a reaoItTtlbn in the Boaiftl,- calling for a specific account bf these : expenditures showing the objecta'tto ' which they had been applied, nMhe persona twhoni he money had bejen . paid. This reasonable propsrtwn . ; was voted down;; " : , "t'7s . .- They alsornffj fc. mn'oliooi ,te- a-indmg the result, tions ot piovemoar, 1830, and March, ': t8Jl. TWalso , was rejected: ' -y- 1 1 Not content with thuj. refusing4 to recall the obnoxious power, or even to require such an account of tfte-expeo , , ditur BS'woulih show- svhetBer.jlhe-- money of the Bank had in fact-been ;! applied to the objetto contemptt by v tbofi ' resolution ' aa ohnoxiasjl, ' e ' I i K- .-a -. - ' 1 . - " ' 1- - , - , ,. - .. - --..; j . rep . - V . - i : J- , j , .. . . . .. ., Wf. f r ' ' m I ' " f - .;' ". "iftT-t- -. - - " " , ' , : : . " , .. 1s ." .;.:; ..'av . "?(Vi ' ' ; a Tj. ; v ! . : . v. . ' .,.":v
The North-Carolina Star (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Oct. 11, 1833, edition 1
1
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