X
A,
4
iukhtution, oJr present rirceraslaa
crt, inexpedient and impracticable; nor
da 1 believe its establishment will ever
be otiierwi, eule.s the destructive
principles of the roling party continue
be driven to r scape from anarch? attltc
rik of despotism, lo ls16, mexora-
bl necessity forced the Government
upon the exercise of this very doubtful
power a necessity superinduced by
the enU of the war. No such neces-
ty e :n"ag unTrf created BuTlij ClieToT
ly or wickedness ol a blind, iniunatea
party, which, (or the tins of the coun
try, at presnt controls it policy.
There i not one of the ' gentlemen
whom juo represent, Sir, who will do
or sufler more to arrest this d'nast. rous
career, and avert the necessitv which
may drive the country upon a National
JJaol'. fhanlt and I declare, with per-
feet confidence, that if the Administra
tion wilt panne in itar mad career of
' vie'rnce and ultraUm or if, what is
more probable it be beaten down by
the sober intelligence of the-eouotry-
there will fee no National Dank estab
lished. IF, on the contrary they con
tinue) insist vpoa their exaggerated
theories, and are not rebuked by the
moderation and practical good sense of
the people, a National. 11 ink will be
Jhe inevitable consequence. Towards
flii institution the public mind is ob
viotuly impelled, by the efforts ot those
who would per aide us (hat the desti
ny of this great people and of their free
institdtinn is reduced to the alterna
tite of National Bjnk or an exclu-
aire exaction of gold and silver. )y
this mode of staling the argument, all
middle ground it excluded. They
present Srylla on the one hand and
Charybdit on the other, and de
nying any passage between them, leave
us which w the two to choose. It is a
"Tnnnmrtt enough occurrence in heated
disputations, fur dexterous dialecti
t'ani to drive each other upon extreme
E round, and to close the - controversy
y leaving to each other the selection
of a greater or less evil. Thus one
arty proposes to frighten us into a
ard money exaction by the teiroriof
a Sank, and the other to coerce us in
to a Bank, by the horrors of a specie
exaction. Fur the last ten yer it has
sni the stale trick of the Administra
tion to attain each successive step in
its climax of folly and wickedness, by
presenting the ever ready alternative
oft National Hank. It has been the
scourge with which public opinion has
been lathed on from one . disastrous
measure to another, and now again it
Is wielded to drive us into the sub
treasury. I do not in the slightest
degree doubt if this alternative is per
sisted in and forced upon the coun
try, it will prefer a National Bank, by
an immense majority. In (ruth, Sir,
such an alternative is altogether ima
ginary, Does any one believe that a
bank can be established Urwg the
Cesent administration, unless the ca
nities of the country procure two-
thW'W ot congress lor Itf Does any
ne believe that two-thirds of Congress
can ne ootameu in lavor t a measure
to which the present extended and
prosperous banking system is opppos
1?
. The present Congrcsl has, by a most
decided vote, rejected both branches
of this illusory alternative, it has ex
pressed its disapprobation of a Nation
al Bank, and has most emphatically re
jected the specie exacting Sob-Treasury.
Indeed, this last . measure has
received its doom in (he mosTdecided
way -it was rejected in the Senate by
majority of nine, and in the House
by a majority of fourteen. In Con
gress, between the extra and regular
session, it , lost in the Senate from a
majority in Us favour to a majority of
sine against its snd in the House,
4renuijorUyoC.jeyenJn..fa.vpurof
a postponement to a majority of four-
teea for total rejection- The fate of
tie Sub-Treasury without - the -specie
exaction, 4VM vary different it passed
the Senate, an J failed ia 4be House by
i majority of bnt four. .Thus it is ap
parent iUt a Sub-Treasury with the
receipt ft -the bills of sp.-cie paying
banks, is a more favored measure than
either of those which have been so os
tentatiously insisted upon as our only
alternatives. It is a known fact that
the hard money clause and its advo
cates destroyed the Independent Trea
sury, which, but for: that feature and
its friends, sroutd have been the law of
the lands so that they are responsible
for the failure of a Sub-Treasury sys
tem. ' - . .
Whether we consider the course of
the specie exacting clause, in Congress,
or its reception by the people of the
United States, as far as they have pass
ed judgment, it is dead. Of the South
ern States, Maryland, Virginia, North
Carolina, Mississippi, and Louisiana,
have held elections sinee it was pro
posed, and at which it was the princi
pal question- They have pronounced
against it It Was destroyed the Ad
ministration in several States, and
weakened it in all, except, I fear, in
ear own.- .- -.:,'. U f.
. But for the conviction epen the public
aaind that this measure was entirely
t ef the sjvestioa, the Banks would
not have renewed specie payments, nor
would our eoaotry have been, blessed
with 'tTiose omens of reviving prosper
ity which cheer us en every side.
.These ate the first fruits of the triumph
f Jhe people over the Administration:
and although the present, arrangement
of the treasury is not such as any one
felly approves, yet, defective as it is. a
great majority of the people of the U-
. .:::
nited States prefer it, very properly, to
the hard money Sub-Treasury.
I beg leave to assure you. Sir, and
the gentlemen whom you represent, of
the perfect coincidence of our opinions
in-oppoaitiac Jo JIieJF&deraj PldyJfor
the sincerity of this avowal, my friends
and neighbors will give me implicit
credit, when they remember that I first
came into their service a State Rights
politician, of the atraightest sect of the
school of the Jefferson and Madison ot
Sroftn Wnf."tt."Craford ofT81;
of the John Taylor and Judge Smith
school, of 1824J and that, lollowing
out the principlrs of these men, I was
a NuIlitW of 1832, without having
anght to forget, deny or explain, in my
Cast history. My career ha been
amble, but it has been uniform. If it
has not been, signalizettby distinguish
ed ability, it has not imposed upon me
the painful task of vindicating a doubt
ful consistency. When, from the hon
orable service of this district, ' the
kindness of the State placed me in a
more extended sphere, It was, unques
tionably, that I snould act there upon
the priori pies which had gained favor
for me here. My course required no
deliberation to determine upon it. I
found the General Government ad mini
istered upon principles from which e-
ven Hamilton or Pickering would have
revolted, and in possesion of a, party
audaciouslv avowini doctrines so anti-
Republican as to procure for them the
designation of the Royalist party."
, I found that party avowing and act
ing upon the principles of the Procla
mation against South Carolina, and of
the Force Bill.
They had passed the Tariff of 1823,
and tjppo8ed the compromise of
1832. ,
They had seized upon the ileposites
in the U. 8. Bank, and held the public
money against law.
They claimed for the President all
executive power, without reference to
ihe..Cjmstitution.
They avowed the principle tbatthe
spoils of government belonged to the
victors in a party struggle, and boldly
used office ami office holders to perpet
uate their power.
Their President opeuly employed all
the power of the Government to ap
point his successor: and they expunzed
the Constitution to perform an act of
sycophancy to him: the most guilty
ami ignominious act that has sullied
our history.
Such were the principles snd prac
tices of the party in power not only
characterised by every quality which
could define Federalism, but going be
yond all that the wildest enthusiast for
a consolidated government had ever
imagined and these enormities were
fierpetrated in the name ot Republican
em and Democracy! which names
they have recently again desecrated in
m nouow anu nypocrmcai auuress to me
United States, full of those professions
which they have made and violated ev.
ery year for the last ten. The old fed
eral party was honest, though mista
ken the new party have acted upon,
while they denounced, their principles,
and used them to gratify the lust of
money and office.
I went into Congress in opposition to
this party. 1 staud in opposition to it
yet I stand in the same ranks shoul
der to shoulder with the same men now
as in 1834 and driving the storm of
opposition against the same profligate
party. I trust and hope, sir, the Re
publican State Rights party does not
differ in any wise froin.the State Rights
Whig party, tn stern, uncomproratsinz
hostility to the present administration;
and, if so, I, for onepledge myself to
be ready for an equal opposition to anv
set ofmen who come in imitating their
practices or sharing their principles..
in conclusion, sir, i ouer you this
toast:
'TKi Tan Burin Vr7y.Lt u neer forget
th worJt of Mr. Tazewell: " Thev have do.
eeivod o one, tint waa their fault if they da-
eat ua agmn, it will wroora.
ith many thanks, sir, to those
whom you represent, for the honour
dona me, and with the highest person
al regsrd to you, I am, dear sir, your
obedient servant,
WM. C. PRESTON.
From tbo Grcontilla Mountaineer."
Greenville, .iugiO, 1838.
Sir. In the course of mv remarks
on Tuesday last, I stated that the de
mand o the public dues, in gold and
silver only, had first been presented
in Congress as a distinct snd specific
proposition, by Col. Benton. You
interrupted me, and said that my
statement was false (and, I under
stand, added, that I knew it to be so,)
This occurred at a dinner given to
you, and I could, therefore, do no
more than to say that such language
was unprovoked, and that I could not,
and would not submit to it from any
one. I had hoped that when the ex
citement of the moment had pased a-
way, it would have been withdrawn.
As it was not, I . have no alternative
left but to inquire of you whether you
intended to use the language attributed
to you, and whether or not I am to re
gard it as withdrawn or retracted.
, very respect! ulty,
your obdient servant,
W. THOMPSON, Jr..
Hon. 1. C. Calhouw. .
Fort Hill, Sept. 2, 1838.
Sir. I received, vesterdav. vour
note of the 30th Aagust. 1
: You commence bv ivinr roar nit.
J 0 9 4
derstandinc of the occurrence on Tnea-
ilav laat. ta which vnur nnta rofora h.
fore you ask the questions to which
you desire an answer, and shall fol
low your example by giving mine be
fore I answer. 4 '
After presenting my tiews to the
audience against the union of the Gov-i-nment
and the Banks. I nroceeded
W reprySThe'o
heard allegeU lroinyanos quarters
against the separation: and, among
others, that the proposition to separate
had orarinated with Col, Benton, and
was what is called one of his humbug.
This I directly cootradicled, aa assert
ed to be nutrue, stating at the same
time the facts on which I rested my
ssiertion. This, iii your reply, as I
understand you, you positively denied,
and asserted, that in spite of all that
had been said, he was the author of the
proposition: and, in proof, read a pro
position that Col. Benton made in the
Senate. 1836. for the separation. It
was then I requested you to give war.
when I asked you if you did not know
that Gen. Go'rdon, of Virginia, hid
made a proposition in the House ol
Representative for the separation in
1834, two years before Col. Benton
had made his, snd that Condy Raiet
had suggested it before Uen. uonton
had made his proposition: and that I
had, at a still earlier period, declared
in my place in the Senate, that if no
one else moved the separation, l
would. To each of these question
Tnu answered yes, in succession, as 1
propounded them, on which 1 drew
tne inierence i uiu, anu wuicn lrresisu
blv followed under the iniDression. I
made it: that is, with the knowledge
of these facts, you had asserted that
Cot. Benton was the first to propose
itpir in otherVordsThat the proposition
to senarate the Government from the
Banks originated with him. But I
now understand from your note, that
in this I was mistaken, and that in
stead ot the broad assertion I suppo
sed, you made the more narrow one
'that the demand of the public dues in
gold and silver had been first presented
in CongTcS Tts aistinctnd specific
proposition by Uol. lien ton.' -
It is not at nil necessary, in refer
ence to the point between us. to in
quire what precise meaning you intend
ed to attach to these words, or whether
you are not mistaken, when taken even
in their most restricted sense. It is
sufficient to say, that the inference
drew and the expression to which
vou object, was drawn on the supposi
lion that you had directly contradicted
in unqualified terms my assertion, that
the proposition tor the separation had
not originated with Col. Benton, and
of courfu the expression is not an
plicable to the more restricted prooosr-
uon, wnicn i now unuersiand vou had
used. Respectfully.
J. C. CALHOUN.
HonJVV. Thompson.
The above letter of Mr., Calaooti,
disclaiming the application of his of
fensive expression "to the proposition,
as he now uderslatids me to have used
it," puts an end to the controversy be
tween us, so far it was of a personal
character. It is due to myself, how
ever, to hay, that the language recited
in my letter to Mr. Calhoun, was ver
batim the language which I used, and
it otherwise understood at firstliy Mr.
Calhoun, it was so explained by mraT
the time, and Mr. Calhoun then ro-
Elied to that explanation withholding,
dwever, then, that explanation of his
own language, which he now so pro
perly makes. I was tliscussinr sep
arately the two great features of the
Sub-Treasury Bill, and whilst remark
ing upon the feature demanding cold
and silver only for government dues, I
said that it had first been submitted to
ingress as a separate and distinct
proposition by Coi, Benton in 1836;
and on being interrupted by Mr. C. 1
also stated that General Gordon had
iubmrttetf trbefore, "but nrcWhexi6ri
with another feature the plate and
mode of keeping the public revenue
but that the distinct and isolated ques
tion of the rejection of Bank notes
for government dues, was first present
ed by Col, Benton, in proof of which I
read the following act introduced by
Col. Benton in June, 1836:
"Be it enacted, &c. that bank notes
and paper currency of every descrip
tion shall cease to be received or of
fered in payment on account of the
IT. S. or of the Post Office, or in fees
in the Courts of the U. S.. as follws:
of less denomination than 20, none
after the third day of March, 1839,
of lest denomination than - 8500, none
after the 3d day of March 1840, of less
demimatioQ than 1,000, none after
the 3d day of March, 1841, and none
of auy denomination from andater the
3d day of march 1142."
I did not suppose that Mr. Calhoun
coulj have understood me as contra
dicting his statement as to Gen. Gor
don's measure, in any offensive sense
or as questioning his veracity, or he
would not have replied by a retort of
the insult I very well know that Gen.
Gorden had introduced his measure in
February, 1835, and not in 1834, as
Mr. Calhoun states it I repeated
then, in the very words which I uttei
ed at tho Barbecue, without retraction
or modification, that the proposition to
receive gold and silver only in payment
of public dues, as a distinct and spe
cific proposition, was first made by
Col. Benton. Mr. Calhoun under
stood me otherwise. I regret it, as an
nplesant 'difficulty grew out of this
misconception.
I have deemed it ray duty to make
this full statement, as it has been sed
ulously reported that I had retracted
what I said on- that occasion, a navs
retracted no single fact that I stated;
and 1 may add. that in sll that I have
said or written on this and every other
political question, I am not conscious
uf inr ainirla mistake of an important
stated what I supposed almost every
man in the United States kaew, that
Col. Benton was the author, the urst to
strgg4h'it gold and silver policy. If
he was not why has ne oeen caueu
humbug Benton,," "hard money Ben
ton?" Why are the gold coins failed
"Benton drops?" If General Gorden
is the true father of the policy, they
should have been called Gordon drops.
But to the proof. In a speech ' made
in the Senate on the 2lst March, 1834,
the following passages occur, .with
fifty others like them: Col. Benton said,
'In the first place,' he was one of those
who believed that tne Government ol
the U. States was intended to be a
hard money government, that it was
the intention and the declaration of the
Constitution of the United SUtes.thatthe
should Federa currency consist of gold
and silver, and that there is no power
in Congress to issue, or to authorize
any company of individuals to issue
any species of Federal paper currency
whatever." M 1 he authority given to
Congress to coin money, and is an au
thority to stamp metallic money, and
not an authority for issuing slips of pa-
Ee7containing promises to pay money."
retty slr mg.I think, against Treasury
Notes.
- Again, he says, "Gold snd silver is
the only thing recognized as money.
It is the money, and the only money of
Uie Constitution. Every historic re
collection, as well as every phrase in
the Constitution, and every early
statute on the subject, confirms the
idea." They (the framers of the Con
stitution) determined to have no more
federal paper money. They created a
hard money government they intend
ed the new government to recognize
nothing for money but gold and silver J'
These passages are taken from a very
long and able speech, the main object of
wmcn is to prove ine unconstitutionali
ty and inexpendiency of receiving in
the dues of the government any thing
but gold and silver.
This was on the 2tst March, 1834.
Gen. Gordon's Bill was introduced
the 10th Febuary, 1835. Mr. Condy
Raguet brought his proposition to
Washington, as the following extract of
a letter from him to Mr. Preston,
shows, in May, 1834:
"Dear Sir: Your favor of the 7th of
June is at hand. In reference to the
matter alluded to, therein, and as tar
as my recollection , serves me, I did
not write to yon or Mr. Calhoun, but
communicated with you verbally in!
May 1834. Having failed td receive the i
favorable views of either of you, I
bronght the plan to the view of Mr.
Lewis, and several other members of
the House of Representatives from the
South, with no better success, until I
found General Gordon, who give it a
favorable reception. It will not now,
1 trust, be denied that Col. Benton
was the first to advocate, in a speech
in Congress, or to propose as a' specific
ana separate measure, tlie.specie tea
ture of the Sub-Treasury Bill, That fea
ture, without which, Mr. Calhoun says
that measure is a mockery. If not the
author of the project "of Divorce, he is
the author of that which is regarded
as its great and important feature. It
is none the worse for its origin it is a
good thing. If it ia half as wise and
beneficent a measure as it is now
thought to be, Benton deserves
statue of gold, for having had the
genius to suggest, and the moial cour
age to adhere to it, in despite of more
opprobrium and ridicule than any other
one measure ever has received. '
ir. cainoun, at the uarbacue, argu-
eu against the 1'et isaok system, as my
favorite. I was surprised at this, as
merantenttment ot 4he- Bill which I pro
posed in Congress, expressly forbids
tne use ot the money by the banks, and
: i i i,i
u cYcry upeecu wuicn i nave matte in
Congress, or since I came home, I
have reprobated that System as the
very worst possible; and in the very
La.. 1 1
nercn to wuicn Air. uamoun was re
plying, had repeated the same tliingrT
refused, as Mr. Rives knows at the last
session, to go for his general . deposite
Bill, or any other which should give
the use of this public funds to the
UanKB, Air. Calhoun also said, that
the reason of issuing Treasury Notes
was, that the Government had money
onxleposite r-ih banks, which it could
not get I showed that, at the period
of issuing the last ten millions, the
Government had only twomillions in the
Banks, and had drawn warrants for a
large portion of that. How then can it
be said that the Treasury -Notes were
issued because we had money-in the
Banks which they would not pay? I
have felt it a duty to myself and to the
people, to make these remarks, as I
am informed that it has been industri
ously propagated, that I had retracted
statements ot facts which I had made.
W. THOMPSON, Jr.
From tho Wilmiogtaa AihertiKr.
TO THE FRIENDS OF INTEBVAf . iu.
MOVEMENT IN NO. CAROLINA.
AVe have, for sometime past stren
uously striven to awsken the
N. Carolina, to the (absolute necessity
of adopting some liberal and judicious
system ot internal Improvement
Such a course is absolutely
to the maintenance of that honorable
posiuon among our sister States to
which we may generously aspire, and
to which nature Justly entitles ai
Who would will it otherwise, wh
would not exert all the energies ef mind
and body to attain it? The time has
passed -when the humblest individual
may listlessly fold his arms, and re
gard with quiet indifference, the great
Slriue wiui wuii.ii iu puvi mipuit-
ment is traversing the Union. Inhere
is now a choice left us; we must move
either onward to a glorious destiny, or
we mast retrograde to the lowest depths
of political degradation. And when
we hve nmVinto BorhingnesraTidile5!
cay, we will still be pointed at not in
mockery, but in sadness, as a deplora
ble example of the consequences of in
action, and the dangers of permitting
opportunities glorious, golden oppor
tunities, lo pass by unimproved. V
have raised our feeble voice to prevent
the realization of. so gloomy a destiny.
We have called upon the press and the
patriot to aid. and we now say what is
to be done, should be done quickly.
In furtherance of our object we will a
eain revert to the port of Wilmington..
in enumerating tne auvantagc ot
. . . . r
Wilmington as a place of trade, and in
endeavorinz to set forth ber. commer
cial importance to the State of North
Carolina, we may have omitted many
things which are calculated to have
creat weight in directing the conclu
sions of the public mind. If we have,
we hope abler pens may be enlisted in
so noble an undertaking, and the great
interests of North Carolina may be
portrayed in a manner that will quick
en the dormant energies of the State.
If our weakness should be attended by
such a result, we will only regard it as
the cause of eliciting the strength of
others. -
We mentioned in our former nuiu
bers, that Wilmington is situated upon
the Cape Fear River, thirty miles from
Its mouth, where is formed what
is
known
as the main bar. Over this
vessels drawing
ii Jeet may pass
an Allowance
ol 2 (eet beinir made
tor the swell. This is about the quan
tity of water upon the bar of the Mis
sissippi, which however, is dist:dU
from New Orleans 110 miles, down the
most tortuous stream we have ever
navigated
Twenty miles from Wilmington is
the New Inlet, where vessels drawing
12 teet may cros. - A fact connected
with this latter bar which should not
be over looked is, that the vessels bound
to Lu i ope, or to the northern parts of
our country which go, to sea over it
thereby, avoid tha danger of passing
the Fryingpan Skoals. Let it be borne
in mind too, that by a proper expendi
ture ot means and labour upon its
limestone foundation, any depth of wa
ter may be obtained which may be
thought desirable to make Wilmington
a port equal to all the wants of North
Carol in a. These at least are the views
or scientific and practical men. II
these circumstances be clearly explain
ed to the General Government there
can be noi doubt that effectual means.
will be immediately taken to remove
every obstacle,
We have already stated that since
the commencement of operations by
me uovernmenr, the river has beeu
deepened from 10 to 13 feet, and the
quantity, of water, is continually in
creasing. The channel is broader,
deeper, and straiter than it was; and
becoming greater. As an evidence of
this, the system of lightering, which
was once found profitable, is now en
tirely abandoned, and vessels are no
longer subject to theexpcnse of going
below the flats before completing their
.igues, anu employing small cralt to
ettect this end. 11ns fact is one of
great weight and should be allowed to
have full effect.
Our wharves are ample, but they
uaj uc uii more enmrgeu and im
proved.
Weaveatreaiy"slaTea"tTe charae
ter and quantity of produce which can
be obtained inrnBur mafkeT.thTsniay
and will be very much increased. One
planter remarked the other day, that
since the enjoyment of railroad facili
ties, his neighborhood alone would in
crease the quanty of cotton for market
this year 500 bales.
Our tonage will be found, upon ref
erence to the proper documents, to be
greater than that of Richmond and
Petersburg combined, nearly equal to
that of Norfolk, and not very far below
the Tonnage i of Charleston. The num
ber of vessels that entered our harbour
during the last year, as furnished by
the Harbour Master, is 466. These
are established facts'tendins to show
at. ... O
me commercial advantages or Wil
mington, which cannot be overthrown
Vet how many are there of our eiti.
izejis aodJaw givers, who are Ignorant
on the subject: and to what fatal r.
suits to the prosperity of North Cam
lina does this ignorance lead! We
hope that public attentiou may no Ion
ger sleep that the subject may occu
py the serious attention of the Conven
tion which meets in December, and
that the fostering care of the State will
be given by our next Legislature to a
port, which deserves not to languish
from neglect.
All who have had an nnnnrtnnWv nf
forming correct opinions, and all oth
ers should-he-regarded as worthless,
know the health of. Wilmington has
been improving for the last twenty
years, and still continues to improve.
Within that time, we have had yellow
fever but once, a disease, by the by,
which never has existed among us but
twice in ir6 and in 1821 and how
many seaports are there that can say as
ranch? and those contagious and in-
feclaon disease jrhich BsaaJly ic
a maritime community, have '7?
and when they did, they h 7
very limited in their deadly n.1
The Hospital is now. and i. e3
tenantless. ror this imDro..::7
..I L " . " . "-Ul I-
assigned. Drobablxonratin .
with other mysterious causes
baflle human penetration. The
er attention to clraoliness h, '
streets, alleys, 4-cM the imnrovtl
Arm -of h-eieieg- ney-W.Bumberta'
mon the more obvious) of the isy
ble, we of course csnnot speak witti
ly. In this however, all asree-.kJ
ever they may differ as to - the ttaZ
that the health of " Wilmint:J?
wonderfully Improved within tW l .
twenty years. i T
WAR AGAINST TI1R BA
We have been shown an Eitr -
cently isued from the Standard 0lc,
the object of which is to promote tt
effort sojtudiously making by th,
ministration to exterminate au tha .
cal banks of the Union. This dv.
ment is headed "The influent rf
829 Banks in the United Slates-,
the State has, doubtlessly, been fioudtal
wtin it. it is. oy such means at
constantly kept up, that the, bublu
mind continues deluded. Scarcely aj,
hand bill is digested, before another i
ushered forth to satiate the morbid as,
petite, which a repetition of suck fuj
necessarily engenders; and part'iun
artjhus supplied with" materials fur v.
gument, even after they are (airly m.
quished, ,-.v vw.t,.-.y
Tlie Extra to which we aTlsde, s
composed chiefly of extracts lroatl
Speech of Mr. Allen, a Senator fr
Ohio, and the spirit of the whole sut
be inferred from the following m,'.
haze:
"Banks derive their being from Ltg!.
lation. They are of political origia.
They sustain and, perpetuate ttita.
selves by reacting upon the source if
their existence ami therefore ntcewt
rily become aa aliment of politicalpov
er. Each Bank is a monopoly at i
gainst the community the coinmug ti
ject of spoliation, hut all stand upon t
level in regard to each Other at co t
gents in plunder. Among tlieinwltts
they are not beings of a distinct 'u
tence. but are culiesive narts oil nv
. - - f - D' -
system." -And
yetafter'sorh a wholesale ana-
n .n In... .kA ll..la &
of the party have the effrontery ts V
clare that the Administration wisJiwti;
to the Banks. As well rajgl.t (lie i
cendiary, who is detected in tli arts'
apylying a torch to his neighbor')
dwelling, assert that be is using sinw
to promote his welfare and happtv
The object of the AdaninistraU ), let
its sateltes disguise it m
pu t down every local bank ia the ca
try, and, on their ruins, to nv ft
great Government Bauk, in comptrutt
with whose power, the lata Sink tf
the United States was a mere pp
my. . s.
The Extra in question paints is w-
id colours the evils of over-bankinr. i-
rising from the operations of 829 lwi-
but it omits to mention by whois i
geney it was, that ihe greatiiitm
the number of Banks was effected- b
does not tell the people, that the Ad
ministration party inrreased t'i Dt
ber :f Banks from 300 to 800, in order
to fill the chasm occasioned ,bj to
destruction of the United States Bint
It states that $ 1 , 600,000 were lent l
meinbers of .Congress bjlhe VM
St .es Bank in Sve " years but it
mits to mention that a great portws a1
the borrowers, were thoruojH-p'i','
-Democratic Republicans." If sii'
that when the Banks suspended SpM
payments, the outstanding debt "
near five hundred millions of, dslUni
but t omits to state that thlsrfal ft
Pnjdon nLcredj.was.,occsipired 9
imperative orders Irom General J
sont who. rlirou'di his Secretary $0
Treasury directed the Banks K
tend their accommodations to iw
most limits. - - -
These dRperate efforts show, b-
Jf r Imtir dounors t ah 4laaft ruirTV lTCei
it is as true as though it had neveP?"
ed through the seething brain of I P
that they tire . 'J1
"So weary with disasters so tiipr
e . --up y -i.
That tl.r wmtld et their Ufa o1!?-
To mend ,t.-
KJT Reatl the following just it
remarks from the Richmond VH:
THK TRUR ISSUE.
We adterted some days since
eff.irt nf lh Adininiatration tS !""
the nubile mind from its eeneral '
duct ami practical a.d calaroito"1"
rule, anu to merge an otner q"7
in a subordinate and isoiaieu
ting to the currency. . This tw.
are not disposed to deny is oi,,,"(,
ler-st to a trading people, be '"n?,li.
does daily and directly upon
siness transactions of life. It w
tKai in trr.,t Ttent one of oo
an. I r.nl, .n.l ma Yin deterOllOf .
I Am
..... ....j
. . J . r ilia llf
.. r ... ..,l..,.nn
ties of the citin. It dwindle
insignificance, when brought W c ' :
with ha ,ral miMtinns UDOO the W-
ion of which depend the purity Sf
wiption of rulers snd the liberty or'
vitude of a people. .
For many years the pwer ns r
ronaste of the Federal Executive p
r.ven witnout usurpanom f