Indiana Palladium, Volume 8, Number 37, Lawrenceburg, Dearborn County, 29 September 1832 — Page 1

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turn ISy I5avil V. Cullcy Terms $3 PER YEAR 33 PER CENT. DISCOUNT MADE ON ADVANCE, OR Mi ON HALF YEARLY PAYMENTS

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IAWKEMCEBiniaGM, (I A.) $ ATOM AY, SEPTEMBER S8, ISS-S. 6787.

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United States Bank. TIic following circular, addressed by the Hon. Nathan Gaither to his constituents, upon the subject of the Veto, is thought worthy of greater publicity, from the important facts it contains. Globe. Having voted against re-chartering the Bank of the United States, and perceiving that attempts are already making to mislead the people of the west, in relation to the true character and objects of that institution, I deem it my duty to make use of the means in my possession to give you correct information. First, I present you with the message of our venerable chief magistrate, returning the bill which had passed both Houses of Congress with his objections : Here follows the Message, which has been published. No man who remembers the last war, and

adverts to the uniform public conduct of .General Jackson, can doubt his honesty of

purpose and devotion to his country. Pobably, no other man in the United States, situated as he is, would have dared, on the eve of an election deeply involving his honor and fame, to take the stand he has in favor of liberty and free elections, against this powerful and corrupting institution. It is, I conceive, the duty of all the friends of liberty to rally round and sustain him. To enable you the more fully to comprehend the evils of this Bank, I propose to show you from documents and information derived from the Bank itself during the present session of Congrcs, its influence upon the Western country, its multiplied abuses, and its direct attempts to put down the President elected by the people, and put up a Bank President over these United States. The whole stock of the Bank is thirty-five millions of dollars. Of this the Government held on the first of January, 1832, seven millions; foreigners $8,405,500; the people of fifteen eastern and southern States $19,451,100; the sum of 32,500 was passing between the offices of the Bank; and the amount held by the people of the nine western States and Territories, was as follows, viz:

Illinois Missouri, Mississippi, Alabama, Michigan,

"Baring, Brothers &. Co." one of whom was lately selected to form a Tory Anti-reform Cabinet, in England, owning $791,500 of the stock, taxes us $55,405. In this manner, the people of the United States, and particularly of Kentucky, are made tributary to "My Lords and Gentlemen" of the British empire, about four hundred of whom arc stockholders in this Bank. To them, and the enemies of reform, the aristocracy of England, the act which the President has vetoed, proposed to MAKE A PRESENT of more than two millions of dollars, by increasing the value of their stock. It proposed to throw almost the entire stock into their hands, to make the American people tributary to them, and convert tho Bank of the United States, to all intents and purposes, into a BRITISH BANK. In addition to this constant dram from the

west, to pay eastern and foreign dividends, the Bank constitutes abroad and deep channel to carry off our specie. The amount carried off to Philadelphia, New-York and Europe, from the Brands at New-Orleans, Mobile, Natchez, Nashville, Louisville, Lexington, St. Louis, Cincinnati, Chillicothe and Pittsburgh, since 1819, are as follows, viz:

534,072 39 In 1826 Si, 931,792 80

In 1820 1821 1822 1823 1824 1825

260,516 70 1827

184,396 63 1828 1,116,397 22 1829 844,504 C8 I 1830 1,254,646 35 I 1831

1,217,717 56 1,301,431 88

2,447,640 75 3,151,767 29 3,243,469 04

55,600 24,200 24.500 11.900

16.700 none none none none

Ohio, Kentucky Tennessee, Louisiana,

Arkansas Ter. 4,200 Indiana. 5.000

Total held in the Western country, Sl43,400

The total profits of the Bank for 1S31,

were 3.455,598 32. Of these the follow-

inf sums accrued west of the Allegheny

Mountains, viz: At Mobile, 95,140 99 Louisville, 198,555 12 N. Orleans, 552,812 55 Lexington, 113,251 25 Natchez, 78,542 96 Cincinnati, 204,784 94 St. Louis, . 30,464 25 Do. Agency, 96,955 88 -Nashville, 262,954 42 Chilicothe, do. 6,585 59 Pittsburg, 103,713 00 Total profits accruing in the Western country, $1,743,761 85 Deduct the dividend paid on 143,403 dollars stock he'd in the West, seven per cent. 10,038 00

$1,733,723 85 Thus, the amount drained from the Western country, in 1831, by this Bank, was upwards of ONE MILLION SEVEN HUNDRED THOUSAND DOLLARS. This produces no return whatever, not even in British or Yankee goods, but is a positive tax to its full amount on the industry of the West. In fifteen years that it was proposed lo continue this Charter, and the four years the old Charier, has yet to run, this drain would, at this rate be THIRTY-TWO MILLIONS NINE HUNDRED THOUSAND DOLLBRS.

To whom do we pay this tax? Not to our

Eastern brethren alone : a large portion of

it goes to the nobility and gentry of Great

Britain. To pay the dividends on the $8,-

40o,50U of foreign stock, last year, 508,385

crossed the Atlantic. At this rate, the tax to foreigners, in nineteen years, would be ten millions seven hundred and ninety-nine thou

sand dollars. But, if the act had been ap-

proved by tiie rresiuent, nearly all the stoc

r.s he his shown, would have passed into -w 1 t 1 -

Jbntisn hands; and at least two and a half

millions a year, or, in nineteen years, . FORTY-SEVEN MILLIONS would have

been drained trom the United States, to

support the Lords, Bishops, and gentry of the British Empire? This is a new way of "raising a revenue in America,' more efficient and more productive than the tax upon tea, which gave rise to the revolution. Kentucky pays no small portion of this tax. The profits of the Louisville and Lexington Branches, last year, were $311,807 37 Deduct dividends paid Kentucky stockholders, 1,601 00

Total drain from the west since 1819, $16,982,832 69 The whole amount sent to those Branches during the same period was only 22,750 dollars.

This drain has gone on increasing from about thirty thousand dollars per year to more than three millions. This year it will probably be Jive millions. But if it were to continue at three millions per year, during the nineteen years it was proposed to continue this Bank, it would take out of the western country ffty seven millions of dollars. This is a part of Mr. Clay's "Amcncan System."

So much of this money as does not go to the rich men of the east, and the British nobility and gentry, for dividends, is sent to pay for British and Yankee goods, which another branch of Mr. Clay's "American System" raises to the western people from thirty to one hundred per cent, above a fair price. So much of this increased price as is laid on British goods, goes into the Treasu

ry, and the part laid on Yankee goods goes to enrich Mr. Clay's allies in the east, Daniel

Webster and his Hartford Convention associates, who chiefly own the stock of the northern manufactories. It is thus under the name of an "A?ncrican System " that Mr. Clay wishes to impose upon us a BRITISH BANK, make us in peace tributary to Great Britain and her former and his present allies

in New England, and m war place the purse strings of our country in the hands of our

enemy.

But this is not all. The act lately passed

was so framed as necessarily to throw nearly all the stock into foreign hands, except what

might be held by the President and Direc

tors in Philadelphia, who would consequent

ly elect themselves from year to year. It is said the President of the Bank now, through

the votes which lie gives by proxy, really decides the elections. He will certainly do it, if disposed, should such an act as that passed at this session, ever take effect. The power of the Bank will be in the hands of a few men, perhaps even one man, who will be little else than the agent of the British nobility and gentry, to collect their revenues in America. His power will be greater

than that of the British Captain General of

the East Indies. I he Bank itself has declared that it can crush most of the State Banks at will; that it can destroy thousands of merchants and men of business; that it controls the whole currency of the country, and can make it plenty or scarce as it pleases; and we know, that by having the money of the Government in its keeping, it has the Government itself measurably in its power

The "wisest men" has told us in "the book of wisdom" that "the borrower is servant to the lender." If this book be true, multi

tudes of our people are servants to the Bank,

or in other worus, to the rich men of the

east, and the nobility and gentry of Great

Britain, who own its stock.

The chief argument used by Mr, Webster

and Mr. Clay, in lavor ot re-chartering the

Bank, is, that the calling m of its loans.

which, they tell us, must be done at once,

Bank was as well known when he was elected as it is now. Soon after the administration was organized, the President of the Bank came to Washington and spent several days in visiting and conciliating the new public functionaries. He was then informed as distinctly as he is now, that President Jackson would never sign an act rechartering such a Bank. The President said the same thing, in substance, to Congress and the country in his first message. The managers of the Bank, therefore, kneio in 1S29, that if General Jackson continued in power, they could not procure a renewal of their monopoly, but would be obliged to wind up their concerns. Did they, like men of prudence, curtail their loans and their business, with a view of putting themselves in a condition to wind up without loss to themselves or inconvenience to the country ? Far from it. Unon the Scrinture truth, that, "the lor-

1 ' ' rower is the servant of the lender" they threw out new Branches, and secured as many "borrowers" as possible, that they might make them "servants" in the coming Presidential election. In this operation they had an eye particularly upon the doubtful and western States. New York is a powerful State, hostile to the Bank, much divided into parties, and gives forty-two votes in the next Presidential election. A BranchBank was thrown into Buffalo and another into Utica. By the 20th February last, these Branches had loaned out 1,812,589 dollars. And from the

1st January 1829 to the 1st January 1832,

the loans at the New York Branch had been increased 1,712,496 dollars. Thus had the Bank made as many "servants1 as it could

make in that great State by the loan of

3,525,085 dollars. During the same time

the loans at the Boston Branch, where the

fidelity 'of the people to Mr. Clay was un

doubted, were curtailed 8":8,lu4 dollars. But it is chiefly in the western country that the Bank has been seeking to make de

pendants since General Jackson came into

power. Into that section ot the Union it has thrown two new branches, one at Natchez and another at St. Louis, and has much extended the business of the rest, as may be seen by the following statement of debts due to them on the 1st of January, 1829 and 1832, viz:

Due 1829, Jan. 1. 1832, Jan. 1. Increase.

1015 756 1,602,856 2.814,166

Pittsburg,

Cincinnati, Lexington, 7 Louisville, S

Nashville, 1,710,164 St. Louis not established X.Orleans, 3,365,503 Mobile, 567,158 Natchez, not established

1,860,697 793,941 3,682,063 2,079,207 5,824.004 3,009,838 4 2S0.140 2.569,976 651,040 651,040 8 426,661 5,061,161 1.655,786 1,089,627 1,724,770 1,734.770

Shows the annual drain from Kentucky, lo be $310,113 37 The Lords of Great Britain, who found it impossible to collect a tax in America, in . 1770, have contrived to make even Kentucky largely tributary to them in 1832.

I ho Most Honorable Francis C. S. Con-

wav

this

dc

"Sir William Kcppel, General in his British Majesty's Forces, Knight Grand Cross of the Order of the Bath, &lc." owning $72 -209 of the stock, taxes us $5,054. ' "Sir Marmaduko Warren Peacock, Lieut, General, &c.-&c." owning $50,000 of the s'ocfc, taxes us S-ViQO.

- i no most ttonorable 1 rancis C. S. Conray, Marquis HatiT," owning $100,300 of Siis Bank Stock, taxes us annually, for diviends, $7,021.

,vill produce embarrassment and distress

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particularly in tne western country. The 1 (,!.. T 1. 1 i. 1 . f"

ciianer oi me diik uj&jui uuoui lour years to run, and in that charter they are allowed

two years alter its expiration to wind ud

If its loans have been prudently made, its calls need not be heavy, and surely all its

debtors who will ever pay, can do it in six years. There can be no doubt, however, that the Bank will call heavily, because that is one part of Mr. Clay's plan of operations, and the means by which he hopes to put down General Jackson. I will show, by unquestionable facts, that the Bank has recently extended its business and its loans further than was necessary or prudent, for the PURPOSE of getting the people in its power, and FORCING them to make Mr. Clay President. The hostility of General Jackson to the

11,075,603 2S,C65,163 16,939,560 Hence it appears, that while the Bank was curtailing in Boston, it was seeking to make 'servants' among the people of the west, by

lending them about seventeen millions of

dollars, and largely more than doubling its loans in three years!!! What was the object? Was it to prepare to wind up? No. The object is found in the scripture maxim, that Hhe borrower is servant to the lender.' nil . l . i .i i

nicy wish to maKC tne western people

servants,'' to put down General Andrew

Jackson and put up Mr. Clay, that they may secure a renewal of their unjust privileges and monopoly. Louisiana is a doubtful State,

'dnUfve millions are thrown mlo her. Kentucky is a doubtful State, and to her citizens three millions are distributed. For the same reason two millions are sent into Ohio. To

get up a bank party in Tennessee, two and

a half millions are scattered there. Thus,

throughout the west," an immense number of

men were made the debtors of the Bank, and interested, as the Directors think, in its preservation.

At length the time arrived to commence operations, and make use of the power they had acquired over the western people. The first step was to turn the screws upon them enough to make them petition for a recharter of the Bank. In a letter from the Cashier of the principal Bank to the Cashier of the New Orleans Branch, dated 21th December, 1831, he says, "On every account, we should, from present appearance, desire to be reinforced by all the means you can throw into our hands, and would therefore recommend that your local discounts should be prudently and gradually reduced a course which circumstances with you evidently favor, and that you should extend your operations in a corresponding degree in exchange, and af

ford us largs supplies of specie to meet your

circulation as u comes in at tne norm."

On the 19th January, 1S32, the cashier of the Lexington Branch is instructed 4to keep your local discounts, if possible, within their present bounds,' and "place funds, as soon as practicable, at those points on which vou have occasion to draw, or to which your "circulation tends,' or in other words, send specie or other available funds to Philadelphia and New York. On the 20th, the Cashier of the Cincinnati Branch was instructed to reduce "the very great amount of your bills discounted" and send on funds to the principal Bank. On the same day, similar directions were given to the Cashier of the Louisville Branch. On the 21st, the Cashier of tho Pittsburg Branch was instructed to reduce his discounts, and send on his reinforcement to the principal Bank. On the same day similar orders were given

to the Cashiers of tho Branches at Natchez, Mobile, and Nashville.

These instructions were followed up by

other letters during the months of January and February, urging curtailment upon the branches, and directing them to send funds

to Philadelphia and New York.

The overllowing of Louisville and Cincin

nati, by tha flood in the Ohio, induced them to relax a littlo at those points for a time; but undoubtedly the curtailment there ha3 been renewed. Who does not know, that, during this time, petitions were started in

every part of the West, in favor of a renewal of the Bank Charter? Who can doubt, that tho loans were more than doubled , in tho

West, after Gen. Jackson came into ofhec, to place the people, as far as possible, within the power of the Bank; that they were

pressed last winter, to make them cry out in favor of ro-chartcring it; and that they

will be further pressed this summer, to FORCE them to voto for Mr. Clay, and against Gen. Jackson? Mr. Clay and Mr. Webster have declared, in the Senate, that utter desolation hangs over the West, unless the Bank be re-chartered ; they have avowed it to have been the object of bringing for

ward the subjuct at this session of Congress, to forco Gen. Jackson to take his stand, that the power of the Bank might be wielded against him; they have warned the Western people that they are to be chastised by the Bank, as with a whip of scorpions, if they do not make Mr. Clay President! A bribe, a consideration in money, or its use, is held out to them, as an inducement to vote for Mr. Clay!! It will be remembered that Mr. Clay in 1S11 denounced the old Bank of the United States, as a British Hank; that he spoke against it, and voted against it, on the ground that it was both inexpedient and unconstitutional. It may also bo remembered, that in 1815 or 1S10, Mr. Webster spoke

and voted against a Bank which Mr. Clay

supported, and taunted Mr. Clay with his inconsistency. These men are now united in support of the Bank, and both make violent and illiberal speeches against the President's veto message. Now it is ascertained by the late Committee of Investigation, that Mr. Webster since 181G, had received from the principal Bank upwards of EIGHT THOUSAND DOLLARS "for professional services." By the same Committee, it was ascertained, that Mr. Clay had received from the principal Bank for like "services," upwards of SKVENTEKN THOUSAND DOLLARS. It is probable he has received as much more from the branches in Kentucky and Ohio. These are the consistent and disinterested supporters of the Bank in the Senate ! Equally disinterested are their supporters in the newspapers. Presses opposed to the Bank, on receiving loans from it, have become kind; and as the loans increased, they became zealous; and $20,000 to $50,000 made them warm. Some presses that were in favor of Gen. Jackson and the Bank, have received their $20,000 and turned against tho former. Others that were in favor of Gen. Jackson

cxertion3 of every honest imn and pure jn triot wcro moro imperiously required. By rallying to the polli at tho coming elections, and supporting thosa who support thcii country and its liberties, you will achieve a victory not the lo?s important and glorious, because it will be peaceful and bloodies?. Other great subjects havo occupied the attention of Congress; but the Hank question has assumed an interest which al3orl them all. At this moment, my constituents and the American people havo but one question to consider: Will you be. FHEIJ and CHOOSE YOUR OWN RULEHS, or will you be the TRIBUTARY' SLAVES of the imiTisn akistockacv and governed by a BRITISH BANK? As one of the minority of the Committee of Ways and Means, F had the honor to express at an early part of tho session, my concurrence- in the principles now sustained by the Message- of our excellent President. I am moro and more confirmed in them ;'s my knowledge of tho power and abuses of this'institution increase?. It already thinks it is too strong for Andrew Jackson. What will it be, if it conquers

nun in in;s conflict r Can any man resist its power? Tho unusual length of tho session bespeaks the importance of the subjects, presented for consideration. Its termination, I think, a splendid triumph for the Administration, v.nd I do not fear the ultimate success of General Jackson in bringing back the Government to its original principles; such as gave birth to the revolution, and ns they existed, subsequently to the year 1600. The part I have taken in tho struggle was not concealed, and in tho discharge of my duty, the constitution and the interest of my country havo always guided me; and I Jiopcj by those lines to Ktccr my course, and while I keep them, to meet tho' approbation of my

constituents. Yours Respect full v, . NATHAN GAITHER. WASHINGTON cm, July 1 1th, lb32.

ErrrcTS or PBnc.irTiox. -As evidence of tho cholera not being so fatal amongst persons who are supposed to live carefully, and use the precautionary means to arrestthe cholera in its first stage, it is worthy of remark, and can bo fully proved, that not a single interment of a person dying with cholera has taken place in any of the following burial grounds in the city. St. Peter's, St! Paul's, Christ Church, St. James', St. StcphenV, St. Andrew's, Mr. Turner's, Dr. Skinners, Dr. lily's, Mr. Barnes's, Mr. Perry's, or Mr. Chambers's. The Sextons of Dr. M'Auloy's and Mr. M'Callas were not seen, but from inquiries of .some of the members, I am led to belicno there have been no interments cf parsons dying with cholera in their buriul grounds. U. S. Gazette.

and against the Bank, have taken "an accommodation," turned against the General and ceased to oppose the bank. Other editors who support the bank are its debtors in large sums. Tho printing account of the bank, which had never, up to 1620, been $1,000 per year, was in 1830, $G,7G2 51, and in 1831, $9,1S7 01. Th cse sums are known to have been chiefly spent in

printing and circulating documents and popolitical tracts, favorable to the Bank. The Bank has on hand or ought to have,

at least ten millions of public money. Of this, six millions wcro wanted to pay towards the public debt on the first of this month. The Bank sfated that they could not pay it without inconvenience to their debtors and customers. To prevent their pressing too heavily on the people, the president allowed them until the first of October to raise the money. By that time they will have in deposit probably fifteen millions of public money. If, after this indulgence from the president, they press heavily on tho people, and produce the embarrassment and ruin which Messrs. Clay and Webster have threatened, it will more conclusively prove their object to be, through terror and corruption, to elect a Bank President and govern the country. If the Bank succeeds in it3 attack on Gen. Jackson, we shall never have another free election in the United States. We shall be effectually reconquered, not by the

arms, but by the money of Great Britain. The act now vetoed will again pass and become a law; the stock of tho Bank, with the exception of a few shares, so distributed as to enable the president and directors of the Bank to elect themselves, will pass into foreign hands; these self-constituted agents of the British Aristocracy, will make our Congressmen and President, control our people and govern our government. General Jackson saved an important portion

of our country from conquest by the arms of

Great hntain; he is now defending the whole Republic from conquest by her monty. On you, my constituents, on tho people of Kentucky, and on the freeborn sons of America, he relies to sustain him in the perilous conflict, and secure a glorious triumph. There has not been a moment since 17?u, when our liberties' were in more danger; there never has been a time when the

The Chcrolers. We are informed, says the Milledgcville Federal Union, that this' misguided peoplo havo reje cted the very liberal and kind terms ofilred to them by the President; and thai, with blind infatuation, they think of resisting the authorities of Georgia. The Southern Banner states that the late meeting held by the Cherokee. Chiefs in Tennessee, was characterised throughout by much excitement. The- Chiefij in Georgia were in f n or of a treaty, and were opposed by the common Indians (who have become as jealous of their Chiefs cs to suspect every thing they approve of as intended to injure and oppress them,) and by the Indians in Tennessee and North Carolina.

From the Orange County Patriot. Horrible Scene. A scene was pxhibi.. ted near Butler's Kails on the Delaware, n few days since, the bare rccital of which is enough (o freeze the blood of the listener. A gentleman from that quarter yives the following particulars. We do not vouch for the correctness: A workman on the canal we did not learn hU name loaded his pun towards night, as he said, to hor.t intruders upon the lock, and left it frtandiiijr in a corner of his house. His wife, Vearful of the consequence?, during Ids temporary absence from home, removed the flint, and left the pirce in the Fame situation. The husband, on his return' late in the night, ordered his wife to bed, in company with a nr.nll hoy? where she had lain hut a short tim:, when he came into the room, and pointing the gun directly at her, snapped it, with the intention of ledgit g tho contents in her body. The piece c.f course missed fire. Di?coverin; that the ilint was removed, h2 seized a lighted candle, and hcldit g it to the p tn, succeeded in discharging it- but fromtheawlwardnessofhihpovitioii,he. ing unable to take aim, the charge miased the intended victim. The woman and boy then fled in opposite dirrclloiw. I ne monster, failing in the pmait of his wife, pursued the bev, nul overtook him on one of the locks of the Canal. A slight scuffle ensued, w hen suddenly loosing hi hold of the I; if, !C fr over into the lock, and was hManth killed by the fall. '