Vincennes Gazette, Volume 3, Number 41, Vincennes, Knox County, 15 March 1834 — Page 2

ed, nor, so far as the committee know, proved, that the bank took an open and direct interest, as a corporation, in the election referred to. The bank certainly wai? much interested in certain accusation? which had been brought againt it, and tvhi h became subjects nf public discussion timing the pendency of that election. Jt hid hen charged w ith great misconduct and gros vi dation of its charter. These accusations must undoubtedly have called on the directors foi answer. If made be fore Congre-s, ttiev were to answer before Confess f judicially, they were lo answer in thecouits; if made in au oth cial an.l formal manner, and in that manner submitted lo the judgment ol the cum try, the directors were bound to meet them before that country, by every fair use of fart a"'' argument, not only for the purpose of defending themselves a? direc tors, but for the higher purpose of maintaining the credit of the bank, and pro tectir.g the property entrusted to their care. If, m thus defeuding the bank before the community, the directors carried

their measure bey ond this fair object of defence, or if they resorted to dishonorable or indecorous mode? of discussion; if they nought rather to inflame than to reason; if they substituted personal crimination for aigument; if, even, they met invective an I violence with corresponding invective and violence; they followed bad example, and are not to be justified . lint on their right to defend themselves before the public against grave charges brought against them and urged before the public, the committee entertain no doubt; Rnd they nie equally clear in opin ion that the Secretary of the Treasury is not constituted the judge of the mode of exercising this right, and cannot justly remove the deposites merely because the Conduct of the bank, in this particular, has not happened to conform to his wishes The committee, therefore, consider this last reason of the Secretary equally inuf. ficient with the rest; and they regard it as the most objectionable of all iu its pi in ciple, itmstnuch as it proceeds on grounds which, if admitted, would leave aver) high official duty to be exercised from considerations connected with the political feelings and party contests of every day, with no guide but the individual opinion of the officer who is to perform the act; an opinion which, it is possible, may itself be no less tinctured with political tiotiveand feeling than the conduct which it would repiehend. If an unlimited power be conceded to the Secretary to inflict penalties on the bank for supposed political motives in acts legal in themselves, where is the security that the judge may not be found acting under the same impules which he imputes to the party accued? The committee entertain no doubt that the imnjeitiate. cause ol the existing pun

lie distress is to be found in the removal, therefore, is not merely a withdrawing ot of the public deposites. and in the man-j lnP amount curtailed from the geueral ner in w hirh that remov al has been made mas, 0f rirculatinn it is removing, r jo other adequate cause has been sugges ther. to the amount curtailed, the basis of ted; ami those who justify the removal do thegeneral circulation, and although the uotso much deny this to haiebeeu Hie j actual amount of notes and bills ha3 not cause, as insist that it was not necessary ! been recently greatly diminished, there that any such effect should have followed ' re!ls0n to suppose that the amount held from it In other words, they argue that.jijy state banks has been greatly dirjuaishimtwithtanding the removal, the bankle,j till possessed the power, if it had chosenj The remQai of the ,epn?ite ha ope to esercise it,ot warding ml the blow which ; ra(p( !irerUy on the amount nf the circuits fallen on the country, or at least of mi ,.Un? me(iiurn nt a mnt when that atigating its seventy. , m0llnt could not bear any considerable re Nothing could have been rationally ex jduction, suddenly oiadp, without producpetted but that the bank deprived of the w sensible effect It has diminished pi i

deposiie?,and denounced by the Executive ; Government, would feel itself called on to lake pit care of its own interest and its

fwn cieuii. j uie uifani uetcfaaijr luhas

the attainment oT these ends, the directors alone were judges, and the evidence before them to show that they have not;

exercised their judgment fairly, and with opin,on; it. his di-tributed the geueral a real solicitude to accommodate the com'Jcotl(ijeneCj x has weakened the public rnercial community, in the altered state of! f i 1 1 1 in the soundnes3of the currency, and

things, as far a has been praticable consistently with the security of the institution which it is equally their duty to the public, and the stockholders, to maintain They are certainly under every obliga

tion ot duty, in triepreseni aisir?seu Haieerate lre should be found to have been! man in the hull State nf Tennessee knowcf the country to do every thine for P,Tirint Miprn also, a till sweater decree of I v, h:!f Bn mnrh about bnr.U-a n.d Knnfcin"

i . - .1-. the tublic relief which is consistent; with the safety of the hank, and with those considerations -bich the ap jroarhing expiration of its charter nmkes it important for the directors to regard. The removal itelf, and the manner of effecting it, are causes entirely sufficient, in the judgment of the committee, to produce all the consequences which the country has experienced, and is experi dicing; and thee consequences, they think, are to be referred to thoe causes .19 their just origin. How could any othrr result have been expected? The amount nf the deposii.es was nine millions of dollars On this amount in deposite there was sustained, no doubt, a discount cf far greater magnitude. The withdrawal of this sum of nine, millions from lhe bank necessarily compelled it to dimmish its discounts to the full extent of all that part which may be supposed to have been ustained by it. It is to be remembered, tro, that this was dnne at a mok ft a ft t ttient when business or every kinn was pressed with great activity, and all mean of the country fully employed. The w ithdrawing of so large an amount it such a time, from hands actually holding and u&ing it, could not but produce derangement and pressure, even it it had been immediately placed in other banks, and if no unfriendly feeling, an I no wani nf confidence, had attended the transaction. But, it is quite obvious that the ope ration to which the Secretary has resort ed has been attended with both these ad CfiDUUl'aad powerful ciWHes ef derange-

ment. It has created unfriendly f&eling? and it has diminished confidence. This change of the deposites is made en the strength of charges against the bank of a very grave and Hggravated mature: each as, if true, would most seriously affect its credit for solvency and stability. It is proclaimed to the whole world as having converted itself into a political partisan, misapplied its funds, neglected its highest duties, and entered on a career of electioneering against the Government of the country. These serious charges necessarily put the bank on its defence, and the extraordinary spectacle is exhibited of a warfaie by the National Government on the National Batik, notwithstanding that the Government is itself a great proprieter in the bank, notwithstanding that the notes of the bank are the cunency in which the revenues of the country are by law receivable The true and natural relation between the Government and the bank isaltogelhnr rpvprsed Instead of enjoying the

confidence of the Government, it is oblig-. the Oineral, and the work of presentin ed to suslain its most serious official as- them to the Gineral has kept me busy saults, and to maintain itself against its enuf 1 tell you. The first and the bigest denunciations. The banks selected by Committee that came here was from the Government as its agents are themselves N Y Merchants andTrarier. 1 (elPd the thrown, perhaps unwillingly, into an atti-.Gineral, sas I. now Gineral is the time tude of jeabusy and suspicion with the briirh up all we know about trade and mooBank of the United States. They become ev business; for says I, them N Yorkers,

cautious and fearful, therefore, in an their proceedings; and thus thoee who should co-operate to relieve the public pressure, are considering mainly their own safety, fearful of each other, and

lul of the Government, they see the uis-and git ev'ry thing cut and dried for em; tress continue, with no power of beneficial j and so 1 and the Gineral ent to work interposition. making a kinder sham light on't. I see It may he asked, why are not these de- pretty quick it would'nt do, for theGinpr poite banks able to maintain as large a al would fly right off the handle, and talk circulation on the nine millions of deposites jabout Glory and j ca-Or leans and Ilefurm, a? the Bank of the U Slates? And w ill jand about his rights, and his Government, they not tie thus able when the piesent and the experiment, and wind up by blowpHiuc shall have subsided? Thecommit iu Squire Biddle all to splinters Now, tee think both these questions easily an'says i , Gineral, that wont do at .ill. say

swered. The Bank of th- United Siatei has a credit more general, it may tie said , more universal, than any State b-mk does po sess. The credit of l ie Bank of the U. Slate is equally did, its bdis and notes received fiiii equal confidence, for the purpose of circulation and remittance, in every quarter of the country. No paper circulation, so far as tbe committee know, which ever appeared in the world, has approached nearer to the value and uni j lormity of a eperie currency than the notes and bills of the Bank ot the U.b To the State banks these notes and bills have performed the office of snecie. All the Stale banks have discounted, upon the possession of them, with the same freedom and boldness as they would have done on an equal amount of the precious ruetls. The curtailment of their circulation, ce8i an,jt j $oute instance, it has had this effect to a very material degree. It has operated on the internal exchange, and most manttetly. been attended with very serious and. heavy incotiveoieuries in (that important branch nf the national in terest. More than all, it has acttd nn

it has alarmed men for the security oft fn let him have his notions, but I pull'd property. As yet, we hardl) know its ef- him a twich by the coat, and he stopp'd: fects on the credit of the country in Eu- but as soon as he got threw and how'd, the rope. Perhaps it is not eay to antici Gineral beg:n and tell'd him the first go nate those effects; but if causes which op Uff he rvas mistaken ibat there warn't a

...... l pressure and distress than has yet been felt may be expected. The committee, therefore, cannot but regard the removal of the deposites, on the whole, as a measure highly inexpedient, and altogether unjustifiable. The public moneys were safe in the bank.

l'his is admitted . AH lhe duties of the'xlcd him mo9t, was to find out which was

bank connected with these public moneys were faithfull r discharged. This, too, is admitted. The subject had been recently ! before the Iloue of representatives, and! l II -..I . . I I

mat imuse mauc us opinion against mc;ju uioie mmi unjr uuic u numi u im-n removal known by a very unequivocal 'for me, says he, the Ingins would now be vote. Another sesion of Congress was! Wall street, skalpin all on you, and the

close at hand, when the whole matter would again coma before it. Under these circumstances, to make the removal, with the certainty of creating so much alarm, and of producing so much positive evil and suffering, such derangement of the currency, such pressure and distress in all the branches of business of private life, is an act, which tbe committee think the Senate is called on to disapprove. The reasons which have thus beeu stated ap ply to the whole proceedings of the Secretary, relating to the public deposites, and make it unnecessary to consider whether there beany difference between his power over moneys already in the bank, and his power to suspend future deposites. The committee forbear also, to consider the propriety of the measufes adopted by the Secretary for the safe keeping of the putdic money since their withdrawal from the bank. They forbear, too, from entering into any discussion, at present, of the, ccxirse of legislation proper lobe aiop.

fed by Congress under the existing state of things. In this report, they have confined their consideration to the removal of the deposites, the reasons assigned for it, and its immediate consequences and on these points they have formed the opinions which have now been expressed. Thev recommend to the Senate the adoption "ot the resolutions which has been referred to them.

JIAJ. DOWMXG'S COR KES FOND ENCE. To My old friend Mr. Dwight of the JS"ew York Daily Advertiser. Washington, Feb. Mth, 1834 Ever since I have been in the Govern ment, 1 never had 6o much on my hands 39 I have since I wrote vou my last letter Folks are pourin in here from all quarters and bringin petitions and memorials some on em jest as much as man can lilt, and vhen they come to stretch them out they kiverall Congress Most all the Committees that come on here, call to see me and every one on em hasgot his eye teeth cut; m ; they haint come down here at this season jthrew the mud for nothin, says I and as , they are comin to see us to morrow, we

tear-fetter spring to it now, says I, Gineml,

I them aint the kind of folks to talk to so they haint come here to talk about Glory " they have got enuf of that, says I, in New York already and reform too, ays I. Why, say I. Gineral, my friend Zekel Bigelniv tells me there is so much of that in New York already, that folks are brakin nil to bit there, ami it has crowded ev'ry dollar nut of trade. Now, says I, I guess lhe best way for us is to bear what these New Yorkers have got to say, ami then bow them off as quick possiblejand dont ask em any questions and they wont auk us auy for if they git U9 on that lack; says I we'll go bump ashore now I tell you, and so the Gineral began to think that was the best way; and if lie was to say any thing in reply, it would be the old story ami the Gineral ht3 tell'd that over so often. I think he could suy evVy yvord out in his sleep. Well, the next mornin sure enuf I see em comin, and I call'd the Gineral, and be took his stand right in the middle of the room, and I stood a leetle ahead on him, twixt him and the door and in they come jest for all the world as folks come to meetin, and turn'd to and introdue'd em to the Gineral, and we shook hands all round Th Gineral is plagy cunnio in such times he was mad enuf to snap his Hickory right in two pieces, but he put on a plagy good natured lfnk, and as soon as we got threw shakin hands, one on em a rale spunky lookin critter, jest about sich another lookin chap as Squire Biddle, and talk'd as glib about money matters he etep'd outf and spoke for the i est on em, and he went on now jest a cool as though he hadn't lost a dollar since we begun the war. He was civil too as you ever see: be tell'd the Gineral pretty much bow things was workin, and how they was goin to work; and when he came to speak nf the Gineral's grand experi ment, he tell'd him pretty plain it would'ot work righ. The Gineral was jest going 1 and Irade, as he did and as long as he was President he'd let folks know what was the rale mranin of "Government "Biddle wa9 a monster and so vvas the Bank. Calhoun was a rascal and so was Clay nd Webster, and McDufrze.and the hull raft of the opposition ; and whatpuz the biggest rascal, the Bank or any one of them other fellers, and he'd put them all duwn afore he was done with em Haint I saved the country, says the Ginerr. I ..... I. .... , t'l t '.mm, iTit l..IVl British would be all over Kentucky, and F. . . , lennesseeand Virginny. And so the Gineral went on, and I couldn't stop him till he got right into "Glory," nnd so I thought twas best to bow the folks off, and by the time the Gineral got through, he and I had it all to ourselves, and we sat down; the Gineral was a good deal struck up and beat out, but he is as tuff as all natur, and can go threw jest such a tug every day, only giv en him a little lo take wind, and so'he took off his specks, and went to rubbin em, and we begun to talk about it. Says he, Major, I reckon 1 give em a 'skiery faction' that time, didn't I. You see, sa)S lhe Gineral, I asked em oo questions, and that kept things snug. Do you know, Major, says the Gineral, 1 did'nt like the looks of that fellow a bit who did all the lalkin for his companions did you understand, Major, all that he tell'd about? says the Gineral. Pretty considerable, says I. And so i lelkd i; all over to the Gineral

in my own way. Well, snys the Gineral,' I am glad I did'nt understand him, for now as you tell it, it stumps me considerable. The Gineral he sat a moment and began to count on his fingers; and to rights says he Major who was that? Why, says I. Gineral. he is the son of a man I've heard you tell on a thousand times. And as soon as I spoke the name, the Gineral he started up, and 9ays he Major, lis unpossible what, the son of !! Why, says he, Major, he was always one of my best friends, and was jest the kind of man ! liked, he was as firm as garnit, and know ed more about banks and all public mat

ters than anv man I ever met he was a rale patriot and an honest man. Well says I Gineral, that you said; and I have a notion too he was in favor of a National Bank, and jist sich a one as we got now. That is true enuft, says tbe Gineral, but that was when I thought jest so too; folks should change their opinions. Major, al-j ways when "Me Government"1 changes theirn. Well, says I. i did'nt think of that. I wish says the Gineral I'd a known who that chap was, iW a made him shake in his shoe3 for dario to jine them rascally Merchants and Traders agin my experiment I guess says I Gineral that would'nt a been an easy job, for I kept my ere on that critter the hull time, and kept thinkin all the while of what I've hearn you say about hie father, and thinks 1, "that's a rale chip of the old blork " But says I, Gineral, we've got more work tomorrow again; there's another committee from N York bringing another miles of names, all Mechanics say s I, rale hard fisted fellows. What says the Gineral , Me chanics, Major!! And he sprung up and danced like a boy. Them are the fellows. .Major, sa 9 he. strait from Tammany Hall, says the Gineral now you'll have another story, Major. None of your Traders and Merchants for me; there aint a spark of patriotism in the huM on em; but the Mechanics give me the Mechanics: and now Major turn to and get a table well spread and dinner on it at 12 o'clock, that's the rale -working man's dinner hour; and let us put on our old coats and dont shave to-morrow (the Gineral is plagy cunnio in sich matters.) So the next day sure enuf in they come, and two turned to shakin hands "Aha, my friends, says the Giner al, these are the hands I like lo shake; no glove work here, you are the men to tell Congress what lo do; and, says the Giner al, any man in office from the president downward ought to mind what yon IpII em. And the Gineral he walk d round among em and shook hands agin, and slap'd em on the shoulder; and took a quid of tobacco from one on pin and gin another a chaw from his own box; and vas as happy as you ever sec, and spry as a cricket too . Now my friends, says the Gineral, lets talk over public matters; and with that one on em step'd out ami spoke for the rest, and I never in my born days heard a critfer of his Iook9 and trade talk so about Banks and money matters, and he began back mote than 30 years, when he was printis, and come up all along, and did shave down and saw up party measures and party folks, and dove-tailed matters so, the Gineral was s'umpM; the Gineral walk'd up to him and made plagy ugly faces at him; but the critter went on and talk'd right up to the Gineral; and there warnt a lump of sugar or a drop of tie in the hull on't. As soon u9 he etop'd, the Gineral give him a hard look, and says he, "Stranger, what's your trade?" "A master Carpenter, Sir, said he. I was your friend, Gineral, and every manl employ'd was also, and we stuck to you till lhe measures of your administration has driven us out of employ, and here is a blacksmith, and here is a rope maker." And so he went on pretty much threw all trades. "It gives us pain, Gineral, to tell you that our families and here he stop'd he tried to speak, but he couldn't; he turn'd and walk'd fo the window, and come back and tried it again; and as soon as he come to speak of unemployed workmen and their families, he'd choke right up, and his lips would quiver so, I was jet a goin to step right up and (ell the Giner al what this man wanted to say; but he got to rights himself, and wound up by bringin his fit down upon the table. I had a notion that it would go right through and the GineraPs hat on (he table it bounced up, 1 tell you; and eay? he, "there must be a change, Gineral The Gineral didn't like the looks and talk of this critur nigh as well a the Merchants and Trader's man the day afore. He tried him a spell with "glory and Teform;" but that did'nt go good, and that got the Gineral's dander up too, and so says he, "Strangers, the next time you come to talk with 'the Government,' you most get your representatives to come with you;" but they tellM the Gineral they had none, and had'nthad any for a long while; but they zvould arter next election. The Gineral took the hint in a minit; aud says he (for he was plagy struck up by it) if you dare change any of your re preservatives at the next election (except one) I'll put your citv, the bull scrape on't over on my friend Swirtwout's meadows in Jarsy . I'll let you know that Pin tryio an experiment and will try it; come what will I've said I would, aud right or rong I'll do it, it I die ten thousand Spanish Inquisitions. And nov strangers clear ou' and go home; and as soon as the Gineral put ou his hat they put on theirn, and walked out; but it did make me feel plagy sad and heavy to see folks come so fur threw the middle of winter, and go home empty handed. The Gineral was in a pesky bad temper all day, and so was I; but Mr. Van Buren and some Congressckp from York Ste,te come ia aod made

clear weather agii, by tellin us they et-

nected every tnnut another Committee--m m ST J a from New York, ol the rale swjf anu mistake about Vro, and right straight from Tammany Hall too, and they read over the namei. There, that one, says Mr. Van Buren, is au old friend of mitie; he was a mayor once, and is now a banker, he knows every thing and can ttll io a minit the difference between a crooked account and fair business transaction And here is another, he sent us a big halPd headed Eagle OHce Gineral, don't you re. member? and by th by Major, says he, he is one of your countrymen; and the rett, says Mr. Van Buren are all depended on, the first people of the city; in fact the party couldn't hang together without Vm Well, 6ays the Gineral, this is something like; and now, says he, the best way would be, when they come, to let Congress out, and let all our folks have a hallow-day. Well sure enuf they have come, and we've had some orj Vm here, but 1 haint got time to (ell you about it in thi-l letter, but will in my next. And I've got something to tell you too about a new man jist come here all the way from Ireland, his name is Dennis MI,o)ny, he is a good natured oritur, and the Gineral likes him nigh upon as much as he dues me. I don't know what he is aftvr, and thft Gineral don't nother; but he says he can do pritty much any thing; and he tells some plagy fuuny stories for us; we haint got no offiro for him yit, but there will be some holes to fill up here, and by his (ell, he can fit plagy nigh eny place. From your friend, J. DOWNING, Major, Downingville Militia, 2d Brigade. VINC2NN2S. SATURDAY, M tKl'Jl 131. (tPThose persons who ore interested in th-o welfare and prosperity of t tic Borough of Viuv 'cennes, are, one and ajl, invited to ascmblo at J. C. Clark's Hotel, th'u eveniuj, at 1 o'clock precisely. March 15th, 1834. GOVERNMENT lHltECTOtt. Four of the persons nominated by Gen. Jackson for (Jovcrnment Directors of the Bank of the United States, have it is understood, been rejected by the Senate. Tliey had served in that capacity bofore, and their conduct whilo (:,, 0ffIC- forbids any svmpatliy in their bchai;. T. ... thrir rpil!ctp,i honors. ;T ,.a :ri,,;v;,,Mnl illirilt tllA Tw.a nf ' , ' ' . , ... , ., , Isacrilpgimn act as he could not procure it by Lood ones, their names are likely long to bo remembered, and lest we. should be necusred of a design to obliterate their fame, will record their names for tlie instruction of those wlio shall live in all-coming time. They Bre II. D. Gilpin, John T. Sullivan, Peter VVner, and Hugh McEldery. It should !e observed at the same time, that Mr. J. A Bnyard, the fifth person nominated, was confirmed some time since. It is well to have some sound meat among so much carrion. rt BLIC DISTKESS. The public papers from every section are becoming crowded with the accounts of the calamities and disasters which hnve been produced by the removal of the Public Deposites from the. United States Bank. "0C hundred failure, says a letter writer from New York, have taken place in the higher walks of bushus, tr soy nothing of many hundreds of small dealer.-., whom nobody thinks of attending to or counting up This is the estimate for the city, but it is a mere triflo to what we dread in the next three months.'' Six hundred females, whosd wnges were at the best but a mere pittance, wero discharged from a single establishment in that city. This despotic act of our Chief Magistrate has as?ailed the middle classes, and tho poor, as well as the rich. The latter will suffer more severely than the other from his misdoing-.-Many thousand families have already been ruined by this act. Fifty millions of dollars bac? been sunk in failures; and loss in stocks and iu depreciation in property has taken place to the amount of one hundred millions. The cries of distress are borne on every breeze from beyond the mountains. They will sound in the ears of tien. Jackon, and unless his heart is made of stoue, he will shrink back aghast from the recital of the human misery which he has inflicted by one net of desperation. The vile gang that surround him, and serpent-like, infuse their poison n his car, will skulk under his responsibility. But it i consoling to behold the people up and doing. They are petitioning by thousands and tens of thousand for re'dress under their grievances. The mechanics and farmers have taken the business into their hands, and unless our Rulers retreat from the position which they have taken, those men w ho compose the hone aud sinew of the Republic, will speak to them in a voice of thunder through the ballot boxes at the next election. The spirit of tbe revolution is warming their blood and animating them to assert their rights rights secured to thern by the blood and treasure of their father rights which have been recently trampled in the very dust rights which they will never desert but with the loss of life. Kings have trembled before the Omnipotent voice of the people, and Presidents will be compelled to do the same. That voice drove the 10th Charles of Franco into banishment, and his ministers to the dungeon. It forced Wellington the chieftain Wellington the hero of Waterloo, to resign the post' of premier, and it will force the hero of NewOrleans, even iu defiance of his stern determination not to restore the public Deposites, even though the voice of the Legislature and tha voice of the people should demand it, at la? to succumb to its resistless gaU.