Indiana Palladium, Volume 10, Number 10, Lawrenceburg, Dearborn County, 22 March 1834 — Page 1

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By David V. Cnllcy. Terms $3 PER YEAR 331 PER CEXT. D1SCOUXT MADE OX ADVAXCE, OR 103 OX HALF YEARLY PAYMEXTS, V1L. X. JLAWREroCEBURGH, (3A.) SATOKBAY, MARCH 22, 1834. EST. 10,

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fiZtl Congress... 1 sf Session.

REMOVAL OF THE DEPOSITES. THE REPORT. The report of the Committee of Ways and Means, which makes up the final issue with the Bank, was presented yesterday (March 4) by the Chairman. It is a document of facts not speculation. The question of right, in regard to the power assumed by the Treasury Department over the deposites, is settled, not merely upon the broad authority reserved in the Bank charter, but upon an uninterrupted chain of precedents, showing by their unbroken tenor, that ?ycry administration since the foundation of the government, h3 given the same interpretation to the law in relation to this matter, which has recently been acted upon by Mr. Taney. The views of the Committee against the renewal of the charter of the Bank of the United States, and the restoration of the deposites, are clearly presented. They are decisively followed out by suitable resolutions, which we have no doubt will receive the sanction of a large majority of the immediate representatives of the people, and thus seal the fate of the corrupt colossal tyranny, which has a foot set ipon each State in the republic. The committee give their opinions at large, upon the subject of the State Bank agency in the management of the public finances. They show that reliance on them was part' of the long-sighted policy which indueed the framers of the Constitution to reiect the proposition to confer the power creating cor porations upon Congress, and that it was in fact the ! jresort of the confederacy before, as well as. after the adoption of the Constitution. They propose, however, to begin a new era and to throw new safe guards around the public deposites, by specific legislation upon the subject. To secure the pecuniary interests of the Government yet entrusted to the Bank of the United States, and to ascertain to what extent the abuses have gone, and how far it has contributed to produce the present commercial distress complained of, a full and searching inquiry into its management is proposed. The report will doubtless be read with intense interest by all classes of our countrymen. The questions it discusses are of vital interest, not only to the present generation but to unborn millions. The decision of them involves, not merely the fate of the Bank, but the fate of the Government. w - i We give below the resolutions and the conclu- i ding portion of the report, being all that our limits will enable us to give to-dajr. Globe. Conclusion of the Report. It will be seen by the views already taken by the committee, that in their opinion, the deposites have been lawfully removed from the Bank of the United States, and the money now in the Treasury has been legally deposited in the State Banks. In these circumstances, it remains to be considered, whether any, and if any, what legislation is necessary, m consequence of the change of the deposites. It is the opinion of the committee that the Bank of the United States ought not to be rechartered. The constitutional objections to it are, in their judgment insuperable; and if its charter could be justified by the constitution, recent events have demonstrated that tho continued existence of such a vast concentrated money power, must prove dangerous to tho freedom and purity of our institutions. And after the great abuses of which it has been guilty, a recharter under any modifications, would be offering the high legislative sanction and approbation of Congress, to the various acts of misconduct detailed in this and former reports to Congress. It is impossible that a corporation, which is proved to have used its money to corrupt the press, to influence elections, and control the government, can ever bo selected as the peculiar ob.ject ofthe favor and bounty of the Government. The Bank ought not therefore to be re chartered on any terms. And as the charter ought not to be renewed, it is manifest that the deposites ought not to be restored to it. For, setting aside the various acls of misconduct, by which the present corporation has justly forfeited the public confidence, it . is obvious that the restoration of the deposites to the present bank, to be removed again in two years, would produce nothing but the most serious evil and distress to the country, without any possible advantage. The restoration of the deposites and the recharter ofthe Bank, are in the judgment ofthe committee, inseparably connected together, and neither can with any propriety be adopted without the other. The question then arises whether the State Banks should be continued as the fiscal agents of the government. The committee are satisfied that the State Banks are fully competent to perform all tho services which the General Government ought to require, in the collection and disbursement ofthe revenue; and to afford also all the facilities to the interna! commerce and exchanges of the country which have been derived from States. the Bank of the United

Tho collection and disbursement of the public j rect as far as practicable, the abuses of which it has revenue may be safely placed where the sages j been gulity,and to prevent it from using its corpowho framed the constitution left it. They did j rate power and money for purposes of Corruption not deem a National Bank essential, either to the j and oppression.

Government they were forming, or to the successful administration of its finances. The opinion has already been expressed, that the State Banks arc competent to perform all the duties which the Government or the public convenience may require. And there are many circumstances which strongly reconimcuu ilium 10 a preierence over me uann oi 1.1 . f .J H I mis Liiui-u uwas. iu uuu ui lauiii can uxuicibt; a general control over all the others, and expand and contract the whole currency of tho country at its pleasure, to favor the private speculations of individuals or to increase its own profits. And they can never combine together for political objects, nor hope to gain possession of the Government, and control its operations. Tho State Banks are now firmly interwoven with the institutions of the country. They are generally under tho managc-r ment of citizens, as respectable, as trustworthy, as any directors of the Bank of the United States. And it would be unjust, and contrary to the spirit ufour institutions, for Congress to sustain a great

moneyed power to overawe and oppress them, and bring ruin upon multitudes of our citizens, whenever cupidity or ambition shall tempt them to exercise their power. The stock of the Bank of the United States has fallen for the most part into 1 1 - f .1.. A. 1 . ..l' 1

) ujj nanus ui ia gruui capitalists oi mis, anu lorj cign countries, who have but little sympathy for1 the suffering of our people, when their own sordid or ambitious views makes it their interest to inflict it. If it should be urged as an objection to the State Banks that they cannot afford a general currency, the answer is obvious. If it were necessary to create a paper currency, possessing equal credit with that of the present Bank of the United States, the object can be as well accomplished with tho State Banks, as with tho Bank of the United States. The provision which has made the latter current every where, is the clause in the charter which compels the Government to receive their notes inpayment of all debts due to the public, and a similar provision in favor of the Stale Banks, which might be selected as the depositories of the money of the United States would immediately make their notes equally current, and ensure for them equal confidence in 3ny part of tho United States. But the committee are not prepared to recommend the adoption of such a measure. They are convinced that all which public convenience re quires in this respect, will soon be accomplished ! by arrangements among the Banks themselves; and that there oueht to be no legislation of Congress for tho purpose of establishing a currency of paper. u cj ri I he mam object of legislation should be, to enlarge the basis of specie on which the paper circulation of the State Banks is to depend for support. And the committee are persuaded that by the adoption of the State Banks as the fiscal agents of the General Government, and a judicious course of legislation founded upon it, that a sounder state of the currency than now exists would soon be attained, and the country rescued permanently from the danger of those sudden expansions and contractions of the paper currency which have brought such severe and extensive evils upon the country. The aid and co-operation of the several States may be relied on, to banish gradually the smaller notes, and introduce in their place silver and gold, for ordinary domestic purposes, and the convenience of travel between distant places. Such a reform is strongly called for by sound policy, and the best interests of the country; and the accomplishment of an object so desirable, may be mainly accelerated by laws passed by Congress, adjusting the standard of value of our coins, and regulating the deposites and collection of tho revenue. If gold and silver were brought into common use, and the small notes banished from circulation, payments of small sums would probably be made in specie. The great object is not to diminish the amount of the ordinary circulating medium, but to give it a broader and firmer foundation on the precious metals. With these views the committee are of opinion that the State Banks ought lo be continued as the depositories ofthe money of the United Stales, and that measures ought forthwith to be taken, to regulate by law the manner in which they shall be sc -lected, &. to ensure the safety ofthe public money. According to the law as it now stands, the duty of selecting the Banks and of prescribing the securities to be taken is devolved upon the Secretary ofthe Treasury, under the supervision of the President. This power has been heretofore exercised by the Head of tho Treasury Department, and in a manner advantageous to tho public, and it is not doubted if the law should continue unchanged, that it may and will continue to be so exercised by the Head of that Department yet it is the opinion of the committee, that discretionary power should never be given, in any case, to any officer of the Government, where it can be regulated and defined by law. They think that it would be more consistent with the principles of our Government, for Congress to regulate by law, the mode of selecting the fiscal agents, the securities proper to be taken, the duties they shall be required to perform, and the terms on which they shall be employed. In accordance with these views they accordingly report for the consideration of the House, resolutions declaring that the Bank of United States ought not to be reclnrted and that the State Banks ought to continue to be employed as the fiscal agents of tho government under such regulations as Congress shall prescribe. Before they close this report, the Committee consider it to be their duty to state, that in their judgment, a necessity exists for an immediate examination into the conduct of the Bank, and they proceed to state the grounds which make it absolutely necessary, that a strict and rigorous scrutiny should be instituted. They think such an examination necessary in reference to the security ofthe interests which the United States, as a stockholder have in the Bank, as well as to corNumerous memorials have been referred to the committee comolainin" of pmlwrrnwnpntfl in mnr. piauungoi embarrassments in mer cantile transactions, some attributing them to the removal of the deposites, and others chiefly to the j subsequent conduct of the Bank of the United otatcs. 1 hat serious nm!vn-r'3mnnfa I' i- i . exist in many ot the commercial cities, cannot be doubted anu ll seems necessary clearly to ascertain tho cause before an attempt can be made to prescribe the remedy. The powers possessed by the committee are inadequate to that object, and thev are unable lo do more at present, than to suhmit tho facts which have come to their knowledge, with That thfi simnln the course they seem to surest. transfer of a sum of money from one Bank of der"'1: lw uuouji, tuum nave produced the commercial embarrassments complaned of, is impossi-i uio-. i IK puonc ueposues have not been annihilated; nor have they been transferred from the country ; they are still in the country, and in the use of the community.

It is in vain that they look for the cause of embarrassment in the state of our markets, or the operations of trade. Our agricultural productions, and manufactures generally, bear a good price; foreign exchange is at its lowest rate; the balance of trade is decidedly in our favor, and the precious metals are flowing in upon us from South America, Mexico, and Europe. None can doubt the power of the Bank to create embarrassment whenever its managers deem it expedient. In four months, commencing with August last, and ending with November, it called in $9,707,245 of its loans. As the State Banks could not commence extending until they began to receive the public deposites in October, and from that till December could not, in their extension, keep pace with the curtailment of the Bank of the United States, it is evident that such rapid curtailment by the Bank of the United States must have created some sensation in the commerce of the country. Bat it is easy for

the Bank of the United States to produce universal embarrassment, without aggregate curtailment w oi us accommouauons, oy calling in rapidly one month, letting out the next, and calling again during the third; while it loans out in one place what it curtails in another, and in this manner, falls upon all the commercial cities in rotation, it mav more I effectually embarrass trade thin by a steady cur tailment. When the policy ol the Bank is unsteady and capricious, producing a scarcity of money to-day, and an abundance to-morrow, to be succeeded by a greater deartli the next day, it is impossible for merchants to conduct business with safety, and prudent men will restrict or discontinue their operations. The Bank has long enjoyed a large portion of the business of Domestic Exchange, and whenever it chooses to cut o(T the supply in any or all directions, embarrassment and difficulty naturally ensue. There is much reason to suspect that the B ink has been managed, for tho last six months, with a view to embarrass the community, as a means of operating on public opinion, and controlling the action of the Government. In the proceedings of the Bank, in relation to the domestic exchange, as far as known, are perceived indications of a disposition to use the power it possesses through that branch of its business, for the purpose of producing excitement and distress. The Government Directors inform us, in their memorial, that on the 13th of August last, two weeks before the Treasury Agent, returned from his mission to confer with the State Banks, and five weeks before the determination of the Executive was announced, the Board of Directors adopted a resolution, declaring "That the bills of exchange purchased at the Bank, and all the offices, except the five Western offices, shall not have more than ninety days to run. That the five Western offices be instructed to purchase no bills of exchange, except those payable in the , Atlantic cities, not having more than ninety days to run, or those which may be received in payment of existing debts to the Bank and the Offices, and then not have more than four months to run." The Government Directors inform us, tint on a subsequent day, a series of resolutions were j adopted for reducing the business of the institution, and authority given to the committee on the offices j to modify them at pleasure, and although a strenuous effort was made to require them to report such ; measures as might be directed by them to the Board, the proposition was voted down. Thus, in direct violation ofthe charter and in defiance of all prudence and propriety, was the whole power of this vast and powerful corporation, to relieve or to oppress, vested in a committee, who arc not subject to the responsibility of even making reports to the Board of Directors. A few irresponsible men, issuing secret orders from their private chamber, possess more power to distress the American people, than any department of their Government, or all Departments, by any act short of a declation of war. What the resolves and orders of this potent body have been we have no means of knowing. The President of the Bank who is ex officio a member of this committee, and undoubtedly directs its operations, is also clothed with unlimited power to set the press in motion for the purpose of promoting the views of the Bank. For months those presses which are known to have been sustained by enormous loans, and those which hive received the most liberal allowances for printing, have been incessantly engaged in an effort to spread alarm and dismay throughout the land. It is im1 posiuic not to suspect mat vie secret management . . I . T i ot lllG iank anu the use oi its lunus oy us nesidenr, are m perfect concert with their dependent ! an(1 devoted presses, ail arming to create a general panic, and produce the same result. That result is the restoration ofthe deposites and the recharter of I lhG Bank If any thing was wanting to confirm these sus picions, the alledged refusal of this Bank to co-operate with the State Banks in their laudable efforts to relieve the existing pressure upon the community, in the larger commercial cities, is sufficient to remove all doubts from the minds ofthe most incredulous. It is due to the country, that the source of the embarrasments which oppress a portion of its commerce shall be laid bare. Should they appear to spring solely from the management of the Bank, wantonly and wickedly directed to produce them, it may become the duty of Congress to resort lo all the means within their constitutional authority to check its career. If it shall appear that the Bank, by means of its money and the papers under its control, has wilfully and intentionally produced these embarrassments; and if its power has thus been abused, it

cannot be indured that for two years longer it shall j door and detected Moses' wife in the act of counthp KiifTprPft wnntnnlv fnexcite alarm in the country. ' in? a lare ouantity of counterfeit money. Thev

to direct a pressure first on one point and then on another, enlaroe in one place and then contract in another, for the purpose of continuing to the end ot its existence the evils which there is too much rea .... i son to believe it has already inflicted on the community. If, upon examination, it shall be found

that it has been guilty of such offences, its charter cannot be too soon terminated, and a scire facias would be imperatively demanded to put an end to its machinations against the peace and interests of tho people. The government owns seven millions of its stock, equal to one-fifth of tho whole amount. It is the duly of Congress to see that it be not used to oppress the people and subvert the principles of our government. Ofevery hundred thousand dollars spent by tho President of the Bank or distributed to advocates under the name of loans, twenty thousand belong to the people of the U. States. That their property may not be wasted, that the cause of their distress may be ascertained, and a remedy applied, and above all

! that their own funds, and the money and power of this corporation, may not be employed to subvert the principles of their government by controlling their elections the committee deem it necessary, that there should bo a thorough investigation into the alledged abuses and corruptions of tint institution, and particularly into the details of its management tor the last six months, l o this cnu, they propose a resolution to invest a committee of the House with power to make such investigations. Here follow the resolutions published in the Palladium last week. Col. Crocki:tts Lifjs. The preface lo "tho article," which is shortly to be published, we find in one or two of our exchanges. A few extracts follow : "In the following pages I have endeavored to give the reader a plain, honest, homespun account i ol my state in lite, and some few of tho difficulties which have attended me along its journey down to this time. I am perfectly aware that I have related many small, and as 1 lear, uninteresting circumstances; but if so, my apology is that it was rendered necessary by a desire to link the diflercnt periods of my life together as they have passed, from my childhood onward, and thereby to enable the reader lo select such parts of it as he may relish most, if, indeed, there is any thing in it which may suit his palate. "I have also been operated on by another con-! sidcration. It is this: I know, that obscure as 1 am, my name is making considerable fuss in the ! world. I can't telljwhytit is, nor in what it is'to end. Go where I will, every body seems anxious to get a peep of me it would be hard to tell which would have the advantage, if I and the government, and Black Hawk, and a great eternal big caravan of wild varments were all to be showed at tho same time in four different parts of any ofthe big cities in the nation. I am not sure I shouldn't get the the most custom of any ofthe crew. There must therefore be something in me, about me, that attracts attention, which is even mysterious to myself. I can't understand it, and I therefore put all the facts down, leaving the reader lo take his choice of them.' "But I don't know any thing in my book to bo critised on by honorable men. Is it on my spelling? that's not my trade. Is it on my grammar? ! hadn't time to learn it, and therefore I make no pretensions to it. Is it on the order and arrangement of my book? I never wrote one before, and never read very many, and, of course, know mighty little about that. Will it be on the authorship of the book ? this I claim and I'll hang on to it like a wax plaster. The whole book is my own, and every sentiment and sentence in it. 1 would not be such a fool, or knave, cither, as to deny that I have had it hastily run over, by a friend or so, and some little alterations made in the spelling and grammar; and I am not so sure that it is not the worse of even that, fori dispise this way of spelling contrary to nature. And as for grammar, it's pretty much a thing of nothing at last, after all the fuss that's made ubout it. In some places I wouldn't suffer either the spelling or the grammar, or any thing else to be touched, and therefore it will bo found in my own way. "But if any body complains that I have had it j looked over, 1 can only say to him, her or them j as the case may be that while critics were learn-! ing grammar, and learning to spell, I, and "Doctor Jackson, LL. DP were fighting in the wars; and if j our books, and messages, and proclamations, and cabinet writings, and so forth, and soon, should

need a little looking over, and a little correcting of , fire a few months since, has bee n pun ',ncd vyrcvthe spellingand the grammar to make them fit for 1 ably to an act of the EcgMuturo fr tho turn of use, it's just nobody's business. Big men have j $100, and his freedom given to him. more important matters to attend to than crossing i 1

their f & or dotting their i'i and such small things, j But the "Government's name is to tho proclamation, and my name's to the book; and if I didn't j write the book, the "Government" didn't write ' the proclamation, which no man dares to deny. "But iust read for yourselves, and my cars for a i heel-tap, if before you get through you don't say, wun many a goou natureu smuc anu neany laugh, "This is truly the very thing itself tho exact image ofthe Author," "DAVID CROCKETT. "Washington City, Feb. 1st 1S31." . . i i . i . i li. i Arrest of a tram? of Counterfeiters. On Satur - i day last the Imdi constable Mr. Jacob Hayes, ac - companied by Messrs. Benjamin Hayes, Homan and Sparks, police officers, arrested two men na - med Asa Pierce and Reuben Moses in the ninth ward Hotel, on a charge of pissing forged Bank bills. On examining Moses it was discovered that he had a residence in the suburbs of Philadelphia, nnd further information was elicited, which induced Messrs. Sparks and Homan to proceed to Philadcl phia on Monday last. On their arrival there they procured the assistance of Mr. Blaney, an officer of that city, and proceeded to Moses' house. After reconnoitering it for some time they burst open the then proceeded upstairs where they tound a Hocj tor Stewart, another of the gang, who on seeing i the officers instantly threw up the window and got 1. .i I'll i out on the roof of the house, from which he dropped down and ran offi The officers pursued him, and after a chase of more than a mile, made him a

prisoner. On his person was found a number of counterfeit bills, and in the room from which he had escaped they discovered forged bills to the amount of 5000, amongst which was one for $1000 nnd another for $300 of tho New York City Bank. These two notes it is suspected were proof sheets from a genuine plate, and stolen from the engraver. The officers brought the two prisoners before tho Mayor of Philadelphia who committed them to prison. Stewart and .Moses arc believed to have been the principal signers of forged bills in the United States, during many years, audit is thought that between them they have signed some millions. Moses is a man advanced in life, and an old noted offender. Twenty years ago he was arrested in this city by Mr. Jacob Hayes who at that time found in his possession forged bills to the amount of nearly $100,000. For the charge on which he was then arrested he was convicted and sentenced to tho . State Prison. After his imprisonment had expired he proceeded to Pennsylvania where lie, in tho course of some years, was again convicted of counterfeiting, and sentenced to five years imprisonment in the State Prison of Pennsylvania. From this prisou he escaped, but was retaken and brought back, and after finishing the period of his imprisonment, which was not long ago, ho proceeded to Canada, where he was within the few last week again arrested on similar charges to which he gavo bad and came to this city, where he had scarcely time lo look ubout him before ho fell into tho hands of our vigilant Police, to whom no 11 1 : lo merit is due for having broke up such a formidable rarirr

of villains. X. Y. Enq. The vault under the tower of St. Michael, in the cathedral at Bordeaux, possesses the singular property of preserving llic human corpse ulmost entire six bodies arc placed, standing or setting, against, the wall a horrible and ghastly t;ight. Some of them arc 300 years old; the thin has the appearance of leather, ai.d many have their garments still remaining. The person who shows them, an old woman, professes lo designate their various situations in life, such as a monk, a seigneur, or a mechauic, and even to indicate the disoasu of which each died. An American drummer having strolled from tho camp, approached the English lines', and before ho was aware, was siczed by the piquet, and carried before the commander, on suspicion of being a fpy, disguised in a drummer's uniform. On being questioned he honestly tcM the truth, and declared who and what ho was. This not gaining credit, a drum was sent for, and he was desired to beat a couple of marches, which he readily performed, and thus removed the commander's suspicion of his assuming a fictitious character. "But, my lad," said he, Het mo now hear you beat a retreat." A rc treat! replied the drummer, "there is no such beat in our service."' Anccdctc. Two gentlemen of color meeting ono morning, s;iluir d each other m tho most polito manner, af ter which tho following dialogue ensued : Sambo. Well sah, s'poso wo tiosolizj a littlu dis mornin.' Cufj'cc. Agreed sah, what's tho subject sah? Sam. Well sah, s'poso a chain was stretched from yon tree sah, and toder end was fastened to dat house sah. Cuf. And what of dat sah. Sam. Den s'poso anoder chain was fastened to yon stump sah, and he stretched acrossways to yon log sah ? . I CuJ. Berry well sah, what of all dat sah; Sam. Oh! nothing at all sab, only for argumerit sake sah. Richmond Palladium. A green horn who had been to woik for a rich farmer, three or four years, on quitting, received u check on tho City Bank, New Yoik, for $.r00. He proceeded to tho bank, present d hia c heck with these words, llcre -a snorter fi r ye ifyo can't pay all to day, pay half to day and half to-morrow."' A negro lad who was instrumental through his extraordinary exertion, in saving tho Capitol at ! Milledgevillo, Geo., when tint building w.u on Murder cf Casper Jlausrr. Ihe English papers furnish intelligenco of the murder of Casper Hauser at Anspatch. The Algcmine Zeitung of Dec. XiO, says: "llauser "was invited at nine o'clock in tho morning by a stranger, who said he had something , important to communicate to h:m, to meet bint iu tho Palace Garden in tho uflcmoou, and incotisidj cratcly complied with the invitation, without communicating it to any body. At half pat throe, ! Hauscr, breathless and confounded, ribbed into the room of his tutor, and dragged him, with uni cccted expression., towards the garden, but ' k'U dJwn exhausted on tho way. The tutor thou msi pcrccucu that rasper was wounded, conveyed 1 mm home, and sent a police olhccr to the garden, wuoiouno a smau purse oi viojct bi r i n i" i . p. containing a scrap of paper, on which was written iu a disguised hand, "Ilauser can tell you wi ll enough why I appear hero, and who I am; to save Hauscr the trouble, j I will tell vou mvsclf whence 1 come: I come from the Bavarian frontier, on the rivn ' , II III UiO."' We sinco i ...;n ..i so give vou mv name of M. E. learn that uasner died oi ins wound on the 17th. The wound was mllictcd with a two-edged instru A ment, three-fourths of an inch below the heart."1 Another account says that the purse found contained a considerable sum of money , and that tho murderer probably lost it in the hurry of his flight. A distressing dicase,of an anomalous character, prevails at Killingswortb, Connecticut. Eleven persons have died within a few week?, and none of those attacked, have recovered.