Vincennes Gazette, Volume 9, Number 40, Vincennes, Knox County, 29 February 1840 — Page 2

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!?5'.!,C00 and ibis inc'.u ling t:ie Lock allheNation.il B-"df which we know nius; be furcver useles:?. A a J yet the gentleman conplains of bad management; of extravagance; ami would Lice it ail norm the whigs! Thee has hc n ba 1

mmngomeiit; there has been extravaga-i.-e, but this ha? been im inoie the fault of the whigs than of the loco leos. Ample proof of this assertion can be found ot every page of our history. In the cauvass for Governor i t 1S37, the contest was between Wallace and Duinont, an;! the object of the leaders of loco foco parly was to unite that party with the ami improvement whis on Damoni: Walla awas thus driven, to identify himself with t e system men; he was elected by them; and in his mauguial adurss lie spoke their language. Governor Noble, in his imssage, did precisely as miht have been l r i expected irom a man oi i.is good tens ana experience; lie tccommended clasMUcanon. oir. .,ior?an ot kjsii conntv, whiz, moved in the Senate th Dec. 1837, Journal pace 1 69. a resolution approving Gov. Noble s message on this subject. Mr. Dunning a loco f. co, Jouinai 170, moved to amend tr;c r; s-wiutmn, a i.pru-o-Ti.'e aby striking it out and inserting : valofGov. Wa lace's in; ujfur.d. mendment of Mr. Duns ing was by inserting a resolution decide'1 ill i" t i ! I'.l! eed to classin nation , which was inscrte in the pla-e of Mr. Morgi".'?, ana1 i:;cn th3 resolution, thus amended, was adopted, Journal pag? 1 2, by 'A ayt s to 15 noes l'i loco foens votei! f. r it. Me-is. Cathcart, Oawford, Doosou, Dunniurr. Elliott, Ewitig. H; tt, Kcnne !v, Moore Trask, Tuley and Watt of l,i.m, whilst only riine voted agaitist it. But the gentleman from r.-ar.k'in do not only find fault with the ! ard of whi.-h le was a put. but he has to'd us, thai the Fund Commissioners have aho tu-ted very u re n v lie sav s i.h si ! Jr. Coe by their had management, ! iave ca:,- CO i:s to tecorae iiaPte tor in'ere-t or: near t! nm.'ev w . i : n ;ave not rc. ccive aim peroa- 3 fva s'ot.l rcct i c. 1 t: is is a mistaae. But, tirst ht n.e sav, that the c?niitm.in can no nono drive ni" to the th fen-e of Dr. Coc, th. in t ) the d. - lence ef the system, a-vd for ia same rea - son. jsevcrtheios it h n u v- t-,i do one ?c of j.istic" to Dr. Coe. earnest'y ay, th .t I never saw or anv thin: to -a"sc me to cr.;' rta.n th f do i!)t of ;is integrity. And. I an i inat no'.v a t.or opp TtiMrtv is p'esn eu to me, to renew the remembrance of at lea't one praiseworthy ai u the discharge of his duties. f Dr. Coe, in Soon alter tho organization ot the board ol im; ro ve -

ment, and before more than one ortwoihdf

thousands of dollar? could be in cr?s -rv, one of the Commissioneis drew a draft on! Dr. Coe for ten thousand dollar. Dr. Coe had the firmness to rcfu-e pavmu-.t of it. That Commissioner was not then, i not nDw.awhig. The genthman froni Franklin knows it. YY nenre man rvl I -to nrn ifs f .r ti il es the ntieu? assfrtioa arei! near toree miliions. t i i m : i c t-.e

ban,; loan of one million, on which we ja debt still chargeable againt t:s, a debt h tve not paid any in'er. s and sli d! no: ! v- t to be p.-dd. I i i! is manner, the iuhave to pay n,iy, ui.t 1 t' e mo i-y o- t:u' icreis-d d-ma-i 1 f-r xp rts, and the iob mds is paid over. He must include the l ei eased d miaii'l f -r itnp-:rts, att'.'d upui improve. ur-iit d;bt of $!.T: OO'l I due fr mi leach other in a rapid progression; and the V-l-' I .1 -I - -I - i l. .-1. I . . . I '"v-

! e .worris cauai :,i j o ut r . e w i or:, b inks, en which we have no' paid HiV nev i atert st. and is paid to u. ?hal! ret, iat cs t::e tno And i'v :t. he m i u .!! ie- . lhrthe Cohen o-e n-o'i' rtv ; i.rerest of t! we rr-ci'. e rrn' on t.;e , Spermaceti Facierv, j-itcrest on t! e B m -re mortgages. nr,d ir.tf-rol on the c instalments. I ask the g-ntleman f r .oi- . (i. ii ii . ii : rii s , in i:,e (im-ijoM u - . I as. i oi .. ,.; . r . ,i. a , . i , a I-. .. i t make g nd his charge, if hp can. ,ti 1 he wib, he may bp a-Pit red that I will,

go with him, w hether hj be a -ys'eni unnleit' cl surprise, into mere rago.-ratical

iif i have always urmers'o i - d 1 h.m to r as , I b elievp he was elccle I thi: U'e p na..c. Ii( ill h n v a I . I I 1 t 1 1 i . t K , C. . 3 iiini .i.F'i-i ti.,.., ,1.1,11 1 1 1 v. vi y ULP'.r vefterdav, to lie, or whehh r he ti-svstem man as he has talkei!. u-svstem man as ne tias talked, i wi i go: i i . c . . 11 i ! . wnh him to terret out such a"n"s, nml.t T will cheerfully 1-ave hi, iecon i i'encies i t him and his constituents. It was with regret M' So--iVpr thi i i , il.Ul, found myself compelled to be absent, while the gentleman i Fisher r.d :ros et! i i j mm Switze rland (Mr. i the II rn.se. But as I cman was expee'ed to i Knew that on ieman was expecteu to i . speak about financial matters, severa friends at my request, were eaiLful to noti hisrpmaiks, and I know them hit gentleman, any more tli.-.n the oth.-r, dot . not attempt ha sustain the teport But lie j did assume three tial'y as follows: ropcs:t;ons. suostan1st. That the hank of the Uui'ed States has not been a-fieeted by the war of the government upon it. 2d. That the gold bill and specie circular were beneficial measures, anil were nnv approved generally. 3d. That the increase ot bank capital had not been more than in propordon toj the increase of business in general. It is a task to my credulity, to believe that any intelligent genth nian, could assert

the first proposition; although the I ohlne.-s J atiribnled to the late, or present a. hninisof the assumption so well atcords with i tr ation. It belongs to the kitchen cahi-

much of that recklessness of theoiy which ' marks that gentleman's arguments an opinions, that it is not so surprising, coming from him as it might h2 from another. Tho bank of the U. S. not affected by the war of the government upon i ! Who can believe it? That war, sir, compelled the bank to lessen its issues; to take a charier from the State of Pennsylvania, at the expanse of an excessive premium; and to wind up its we? tern and southern branches. Above ail, sir, deser'ed by its patrons at homo, under the influence of the gret and ruinous outcry against it. raised fay the administration, the pet bank? and all the minions of power, that bank s-s corrp&Iled o fend abroad for ?p?cic

to sustain itself. The proposition is so j the hanks were not increased beyond the j deceive ourselves this league, this assoabsurd that further I will not speak of it. -want of the increased business of the ciatitm of banks, created by the ExecuThe gentleman asserts that the ! 1 bill country, t ot only coi.tadiets our own : tive bound together by in iufl ivn?o and speei-. circular have been beneficial experience, but the present dogmas of; unite. I in eeirmen articlrs cf associ.i

are approved by tho peoj le and that to; t ie first we must attuhu'e that great hi. s sin-j, an increase of c 53, ; 00,00.. cf in ih c country. T! oxhit quae! e cyo'd bill w-.a the beginning of that Mtic.i of ignorance and foil v, of heer .erv, Benton's b.u'nbii.-rrerv", b" v. l.ich this counti y lias been id aniTed into it ore countiy has been planned into it pre sent sure of misery atid distress a distress not i ceuiiar to Indiana, as asserted in ih report, b it pervading every part of th.e I'. ' S. We have fifty-three millions of specie jmore than we had. The gf title in in attrii,v,tfss jt to tjic a,jnl mistral ion. t, is it a L I -lit;' Has it rendered us in ie tons, or more happy? It b.a not. .one cause which gave us the specie, for which we are vet in debt, gave to us s,0( fo ei ni indebtedness to the mount mnr ... i t,p,i ,,,ii!i,ins! e are a na tion or ii:t Meiers', we have raised the wind. mo, ueau. jfu t ut now tlie day of ret k oning has come. Tlie fifty-three millions was a great curse t. the country, a curse, beu.:i:se we are in debt for it; because it slimniat-d the creation of more bank-; an I. especially, herau-e it ?e: ved to keep up li.e Benton humbug. It ii not diilhndt to trace the operation of the gold bill, il we will look to the commercial history oi the country. For some years previous to the passage of that bill, this country, according to the treasury reports, exported each year an average amount of specie, of about one-half mi.'ii of dollars more than was i in per Mm; i er;he!css the country v prosperous, kept up hy l'!:e supply t .' of specie was the uitits broug-it in. e, and by traders v em''rrao :ro:n . . no. o.i ;! e western frontier, ami not noticed on the hooks o.:" the treasury. 1'uriii that tone too. tlie imports Irom abroad er.ect cd the exports, abaut three ae.d a ha'f mi; ill ms o i : O i il'S per year, being aiio.il pT cent, a v ar.ee on the amount exi.orif-, Sf.d n.eia lv a lair p;uat. That i sur; S I b )JIieve t ) have h- toi coar ina i::; 'and hence, t nrtsperity of the country 1 I i-.e c,i ! vi o w a s tl ou icg o; (hat w iro.l . v.h -, .V SW;' v siiuiiij the whirl win. 111 13'. li - org over the 1 i.d the creo tojof ( i:-tress we ;.iv now rc-dp.ir.;-. By thai

I can jm.!, t!ic ri.-e ot goht w as r heard! ing 'o the scarcity of spec least! the i rice of sdw r w-.-.s :

O '.V t US 'Ih. c -am it",.,, t, merccants '.vi.o ..no -re t r i d the hir m'o.oo ol --pccie t-i h crepe an: l j.:v, wenit was b:-t-thus indt.ci d to ship r roduce; op r rod i iter for them to si nd rn-j itreu i i' i a i 7i7, loan ) at ti an liicrcasCti j ti.-m act i for produce, to the amount of r,eo r. i i i ton oi no. tars .annua'ly. .' is loo, at an -recsed deman 1 f was thus increased r his prorice e : i- ! create d: a.-'i price. 'I :e in jdu-e, stimulated, the increased bd, the finm rto ex Mil! the ind nee fo.of id usi ei2.'i gfot i. 1 f.illilP in th use in thus, an incre asad demand for j i i'.' i o ii goo ,s was createo; and the excess ot mriortatruis was i increased hut that !; it was . 1 acia5 St u exec wa n-tt a nr, k results of resto.s oi i?r. Demon s n:si i:o:e oi o. ! ', W: u'd ; that .i'her i a v -ecu so m t ; e l: but i th. ir ef- ! in iheir IK Bcninoie n igo! it-c:s. were c:.,o irao cr ton, inuiet! i v e.vend u p th.se. ten s nose w as given in i i.. i'.c o.oiiii.g: u r . me o! f-pceii.aiion, 1 ltiornieg: it exe.icil a vast scl.e : winch ,iv its operation on the 1 re r v - cuangrs, woulo have to , i ii.su. i sou' ie, t::u on no i 1 o ; s t a ,ia oi , to icav v. me cm. u.s. t.oi :.i ...... i :.. . . t ........ . . .. try; U(vil h;it Hais, toon our oi -.ri.nt i ii."-.-v 1 tos; ex-ua-15 at i u -1 as th av, couse.q tent rp ui the hrt dose o! stonuhis-, wa U nr I . . . i n rt n r v . i ' I I i I . I C 1 I 1 . , 1 I I .' ili'.iil . i ...villi.H I l- . I , 1 I . i V II VI .1 II If, Dr in and swore that it was 1 1 oYhie'n nrmgs me to t'.e third propos:-' c .. ., c t. i ij on tt tne gmtcmrn Irom Switzer anl 1 c hid'iiT: fT nf."ktl.oJiti'rM-.rti( i . f'Ir. F ,i . ,i - r i i r,) tout tne increase of banks I , , c 'has n t l)e n more than the increase oft business m the country. Afur the gold hi'!, came Dr. Kendall's . s i quackery the removal of the t'eposites from the bank ol the United States, and ; the State bank al!iin-e. Dr. Kendall i li became a traveller he went from city to eilv--he j.dmlnistered bisfimu.ating j medicine gratuitously and hence snrung' in . i increa-e of can;; :, the most unbounded sp-'n.lauons in public lands, and in town ovs hence sprung evils, so vast j in the if iiiftuencc?, so overpowet insr in! .1 t . I . . t ii i ! ' i meir . .oeis, tnai tne go.u immoug was lorgotten, sunt,, precise!,- a the morning. bitters ure forgotten in the eleven o'clock dram. Hie removal of the deposites, the ; Sta'e bank alliancp, tlie increase of discounts, and the increase of State banks, were all parts of the same measure, and are chargeable to the 1'ariy i;i Power, and t none other. To the country, it is immaterial whether this great evil is to be net to the in-m then and now in power. 'These men bv their recommendations en couraged the increase of State banks, and bv thi ir official acts enforced an increase of bank discounts. These men, thus brought upon us unbounded speculations, and now sty that it was the fault of the credit system the fault of that system j which is ihe peculiar offspring of well regulated liberty, which is peculiar to fice States, and which is founded upon, and cannot exist without, the utmost inviolability of character, of person, and of property, compatible with the sdninisiration of the laws. Those men abused the credit system and th gentleman from Sw itzerland, when he assert?, thut

die- psry to who;e skirts he hang.

- : 1 he mrf -;ic of Slate banks was an ad-

uneeit inuiHtratuiii measure. II proof is want-j haym'g tnetr notes converted, hy being rti: g, I tell von, that the G iobe recommend; eei-ved every where by the Treasury, in-

1 pt' 11 l'at 'die greatest increase took ' p'see in the administration Slates and a mriority of the Representatives - 1 u "ho. in our own House, voted lor our - 1 w.;o. in our own House ,mV!1 bank, were administration men. ! And, sir, the increase of discounts bv the i . - .btatt- th'posile hanks was not only a pally measure, but was actually recommended by the Secretary of tlie Treasury, ai; oh! lederalist to be sure, wdio has since been placed in the highest judicial station in our land, next after Marshall, but with a wide space between them I mean Mr. Taney. In the letters of the Secretary of the Treasury, to the banks at different periods, selected as deposiie banks, advice, instructions I should say. will always be found substantially as follows: "The depo-ites of the public money will enable you to afford increased facilities to tho commercial ami o hcr classes of tne comtr unity, and the Department anticipates Irom yon the adoption of such a course respecting vour accommodations as will prove acceptable to the people and safe to the governimmt." dated, Oct. ii, lcsi.'J, and signed, I. B. Taney, Sccrtry of the Treasury. ' Similar instructurns were given to the deposits hankinelmli.ig the Slate bmk ot Indi ,v, ... tt, ana, on whose dies an original may vet be found. At the time, t:.e whole told tvt 11. For base parly purpoes, tvr.r was mat.e upon the and then an nii i ot he Flot'-d S-;if-r; im-ieas " o: -i;a was stimuiat and a'l i.ierea of dis counts wis onh-iid, to divert the p-pular f alien'! in. precis y as the g".!;!e;i.an irom Swi:z?;da;i.l, vvou'd oi aw o n .to Hon ! in ves m the examioah iga'i.:i of ihcori ot ; c.': , by to." Bat, sir, ll.cii 1 his will not. f itori Ali! i not aaswer, Mr. Spaakrfr, I have caught th( ii.erary p."io.i of that gc ndeman. I must like i: poc-trv if Vol. no not taste. t U! ( a u . 1 1 i: rrence o. Ah! .o . . V'tv) for th h r, A iit-n t.i !i!)cTt"-. h r.vrr, The Fi-hT ot ih'-.iii. i, Willi fai r r.nhoas u:;:t! The stin went I i he. I The Mio.ia hi ! Ii a l.ea,!. Aral wept iirhiii, t'ae eloti.t-, I'-r the n.-he:- :n:i.t'e .s!-,aaic! x: v. ,:er I hp i l l! 1 1 . n f ill f e ot the party or, i Oiil IS hj to IS 7 , the St. haok system increased as fallows: T bartks to ti't I banks. M millions of capital to VD ii !US. milk:0 i milhons of discounts to ."go mil OUs, '.il millions of circulation to 1 '0 mil lions. And, sir, w hile vv ith one 1 l.U.l, thi.gen b-inau tells you, that this increase, sufficient to revolulioiiize the monetary atlairs o( any nation, and which has now rt-vohnionizcvl those of our country, not our Siutr aiii' but the whole t oan'ry, was not mere tha i the business o-f tiie country required he wi !, if occasion tr.p.iire, turn round, and in the next breath assert, that he is a sub-treason y stipcie-cla.ise hard-m ouev cu rreip-y ma i. M he gentleman front Switzerland, in i.is . on. in ion, favored us with a grant' . , ., ,, , - . liocrisn, up m the excci:e..ce ot llie atlI . . . ' r , . , ministiation d den. Jaciison. But ne iiwii, o . iii on i-numcration. that den. i i i i,M suggested an increase of banks anil of bank paper, so also soggesti..ti... f . e.i io me rsiates. Mate systems ol internal improvement, to be sustained by a distribution of the surp'us revenue. To jme, it has often seemed ivondeiful, that die country could sustain, as long as il j ; did, the vast increase of eirctil itioii found ( u u 'i.n i i. i ' i Jini.ii . l iil r lit I , ' r . , man (Air. I islier) accounts lr it by say- , ' , - ,n? that, it was only commensurate with , . , J ... toe increase business ot the country. To prove this, he points to the eab-s of public lands and thus would substitute t,e eIp(.ct for tj, tut- trucci tor toe caiis.e. i ue increase oi banks j1Kuced the speculations in lands, aaj x 9 cor.trary to common sense to ,llnK(1 ii.rifho St.. u-n l, f.,0 ,w;.,t. The increase ol So too, he has pointj ed to the increase cf exports, especially Gf erotton. That increase has been more an increase of price than of quantity. Phe sane sort of cotton which in March lRoO, sold for ten cents per pound, sold in M..roh ,83;f for sixtccn cents and .i. enr r.e r.,i- .i.;..i, ; iT...t, i ' .uin on b Kit t-i i u iiivii ... ilia I il 183 )? E(),a fyr nine do!ar per bariel. St)U in March 1537, for eighteen dollar 0,,,i (,,nr,ir and a quarter. The country could not have sustained this vast increase of circulation, but that quackery was piled upon quaekery, h-iui-boggcry upon humbuggery, and stimulus upon stimulus but that the4go!d bill was followed by the State bank system, and that by tlie State improvement system, each accompanied with its cwn trains of apparent prosperity, all driving, us into Ihe vast ocean of speculation. On tlie loth of January, 'S3', in the Senate of the United States, Mr. Calhoun, in bold tones, foretold ihe results which must follow, and which have followed, the measures of the administration. I shall read from his speech on the removal of the deposites. "What then is the real question which row- neitatrs the country? I answer, it i a 4'rcgglo between the Kxecutive and Legislative Departments of the Government a struggle not in relation to the existence of the bank, hut which, Congress or President, shall have the power to create a bank, and the consequent control over the currency of tlie country. Thi is the real question. Let us not

, '.ion vi-hied an I sustained by rtcivinj

the dcposites of the i i mo ncv ami l j to olio common can ei.cy of t!ie country. i is to all intants and purposes, a bank of the 'United States tlie Executive bank of : the United Sta'es as distinguished horn j that of Congress. However it might fail Ir, perform satisfactorily the useful I . - . .. ftine dons of the bank of the United States, as incorporated by law, it would outstrip it, far outstrip it. in all its danger ous qualities, in extending the power, the influence, and the corruption of ihe government. It was impossible to conceive anj institution more admirably calculated to advance those objects not only the selected banks, but the whole bunk ing institutions of the country, and with it tin entire money power lot the purpose of speculation, peculation and corruption would be placed under the control of the Executive a system of menaces and promises will be established the niena-e-s to the banks in possession of the deposits, but which might not be entirely subservient ti Executive views and of promise of future favors, to those who may not yet enjoy its favors. Bet ween the two, the banks would be left without influence, honor, or horn-sty and a systern f specidation and stoc i-,ht, ung wonjij eooimence, une.-i'iallei! m the ani ntls df our country. ftav have r:'ri; i c iitir.i' nrr.l." D )-:-s ii't the ga aih.mtn from S.vitzer1 rid apprehend the force of this langua o ? Io not you, Mr. Speaker, and the majority her f;! its truth has not tha whoh.-country realized i.? Mr. C ,l-hou-i, h di-iiigtiished for many of tfeare otui.iius i f the grr.it s'at .sin an. S :me of th.cse, he evhibite. he exiracl I have read, i'l his prediction of tieruin which the administration was bringing upon the country. But times have chan iTd . l h -n , 1 !Cll! U CO.lsei uencr i i t ) all Mr. (Alhoun sai . N.,-vV, sir, I do not n't ach any, to anv thing he may say. He is now repo.-ing in trie Foot-step Administration, and! doubtless thinks that he will yet sit enthroned in ihe Capitol. He is mistaken. Many men with heads as clear, and hearts ;,s firm, and arms as strong, have realized the truth of the school boy lesson, that there is but one step from the Ca?ilo! to the Tarj eian Rock. Mr. Judah continued: I now approach the remarks of the la?t gen'ieuu.u (Mr. Lane.) whose remarks I feel bound to answer. That gentlemri informed the House, that he owe I a debt to Indiana, which he was d dcrmmed to strive to pay. And so do I. B. t that gentleman is a man of many domieiis! lie grew up in NewYork !k lived for a lime in Ohio for a lime in Kentucky and, he has lived for many years in In liana. 1 have had but two the homes of my boyhood and of my manhood after Cod's mercy and m v own exertion. 1 owe a!!, of private for tune ana na'die reputation to tne nco; of Knox county they have upheld audi sustained rna whether in good fortune or in bad whether in days of triumph, 'aressed by friends or in times of misfortune, persee-ut. 1 by f cs thev have r from 1 ) r.i !)ora say t ame. ot an, or t f any of his hovne-.' Tha' geii'lem.m told of heavenly qualities which he loved. But there is one love, which ought to warm all our hearts, and which cannot find a resting place in bosoms warmed only by the fire of action. I mvm the love of our ecnntry. That gentleman called on the domment party to rally ami hoped, they would get all righ ! But I hope, that be rvill cease to exhibit him-elf as a mere pa-lisj'i leader, that he will soon forget his caucus tactic?, and engige with me in the only worthy strife tlie effort to do the most pnhlic good. The gen'leman from Dearborn, did not pause to enquire, whether the report was true or false, in its statements or conclusions. But he was pleased to assume these propositions for discussion neither of which had any thing to do with the report. He said that the present difficulties of our country had been attributed antl falsely, ti 1st. The opposition of .Jackson's ad ' ministiation tt) the bank cf the United States. d. The specie cit cular and Lank sus pension. 3d. To ihe Mavesville veto and, by these digressions, he hoped to withdraw attention from the report, and to unite the party. He w mt baek to the state of the bank of the U. S. in IS 19 3ti 1 has, in his most impressive manner said, that, il die bank could secure a sound currency to the country, it could have done it in 18i0. The transactions of these years were matters of observation to him to me, they are matters of history, but ol well known history. However, he might have spared ad his labor, if his object h to identify me with the bank of the U. S. Un to this day. net one word in support of the bank of the U. S. has passed my li.is but, 1 will avail myself of this opportunity to declare my settled opinion the opinion of one whose po liti-al opinion are all drawn from tiuJcffcroon school the opinion cf an original Jackson man, long accustoned to the battle cry 'a single term, reform and retrenchment,' that, I prefer a bank chartered by Congress to State banks se leeled and controlled by the Executive and that I prefer a bank of the U. S. to the union of the purse with t'.ic sword, commonly called the sub treasuries. I regret the necessity which drives mr io support a na'ioiial bnk but wc must

choose between it atiil a s stem of coi" motion rmd ef nlunder. ' whose only

-a;Ki; -n the Pre'dent him- If can only I. i t m xamples c u-aoif. iliau twenty ho x ton-ign rm.t mon.r.diiat govt ron.c. s. I tu 1 ret urn in his message it ..s us, hLt out of twenty-six governments, twenty-two prefer the union of the purse with' the sword and he calls on us to yield our opinions to the example of this majority. But it will no", do. Such ex-amp!?.-' are not for us. To return to the proper subject. The gentleman alluded to the state of the , bank in 1310. and referred to iis effects in lv "'. Tho gentleman forgot to review the financial history of the country from 1611 to 131 so necessary to a proper understanding of the state of affairsinlSk'J and lS'JO. lie is better able than I to look back upon ihose times hu was a man then and clouhtless he would have done so, if he had occn .sincere aooat nI3 u.aius. o. .. .... m hi -1 1 in-. r i nau n, t learetl to give me lacis, si.u ir-.s i o the honest convictions those lads would induce. Sir, in la'l, the battle of Tippecanoe. :-rh and t.ie At that war with 'land j folio wed. time we only had Stat banks and in a short time. a'l oil tiiesini.h i.f Wu- Fourhoid. siisot-nled'

specie payment. 'J'iie necessities of.''igjel CialS. of Gibson County, the timas c'ompL-lled the government and! Pli ESI DEN ii A L ELECTORS.

Hie people to sanction tne suspension. In 11 i, such men as Mr. Cnv and Chtv and Mr. C alhoun, driver. by the situation of ihe country, forgot their abstract opinions, their party theoiies, and their personal prjudiees, and united with .Mr. Madison j 1:1 'ic.Uii'g tha bank of the 17. S. The eading rep ahi:c:m.s oi riat aav sr-icriuceu , t , i r i ,- s til personal considerations en the comn m aitar of their Father land. The ob ject w is to rest .re the currency, to reguia'e the exchanges and to aid the treasury. But, sir, those man never dream ed, that Mr. Taaev or Mr. V owdbury , could be called to preside in the trtasure department! The bank va3 chartered and went into operation. But before- these objects expected fro ill it could have been realised, a bank in mi.t aU-z nl upon the States. Iany banks were created in the old States more in tho new -near fifty Dick Johnsan banks were created at out batch to di in Kentucky. Similar creations place in Ohio, toid throughout the western valiev. Speculation was thus excitad and then, the budding prosperity of the 1 md w..s nipped, and withered. Such, in a few words, is the history of those times. The gentleman from Dearborn, could look back from 1 H i I to 1P19 ami he could forget the causes which induced iho linan-ia diihculti s then existing he cou! 1 fo get the cireumstar.ces which contributed to the ultimate recovery of the country from those difficulties and then ask u, coolly and calmly, 'if die bank of the U. S. could be of any service, why it did not relieve th.e country in liSl'J and IStiO?' This question, the gentleman pats in his h.-ot m.m.u r a manner, most unlike any thing en earth, unless it is ttlr in lisc lib.ible manner thrown by Hogarth into one of his pictures ;hat picture, in whieh he reiieents the did Bawd meet ing the Curat daughter. 1 l The bank ofl . the IJ. S. a com i)!is,if-ii ail it coiU'i accomplish. the curr'-m It could not at once, legul.t"' nor control tut exchange. But so soon as the Dick Johnson creation

of banks hid passed a v. -y so hooii a I MA.NY VOTFIJS. the bank litters in other states had j.u;. .1 "-ia--"L-:7rz."j . 11 - ; ' - away the bank of the U. S. did come gcAuvt ill. t:nent, intended for imup to the objects oi' iis institution, and, ( mediate insertion, must, io secure inseruntil after 1830 we had a sound curren- thm, be handed in by Thursday afternoon, cy.and reasonable and fair exchanges. ! of which our advertising friends will please For many years, whilst tlie bank of ihe take note. Vs. S. exercised its functions in all the ! -.es. vigor of lhat institution, men in Maine,! The Vir.connos il ....tu- approve of the court

in (Jeorgia, or in Missouri, could p?y Missouri, could p?V in th.e Union, f.r a , debts in any State discount not exceeding one halt cent. WTiiii U. S. bank n ties in par

pocket, a man could travel from the At- ( 'rin t''ery respectable society they intrude Untie to the Desert, from the Gulf to tlie!t! eir slanderous presence into.

Lakes, without being shaved. But now. how h it, un J -r tlie treat-

mcnt of such Doctors us Benton and Ken-.cari

dal.! Now, wc have no such bank bills llie' "se such gratuitous assertions of now, we can scarcely go from county j 'expected mistepresentation' when speakto county without being shaved now, i us, or he will as like as any other we are all under the power of the sha- ua)' wake up the wrong passenger.' vers. At this time, instead of one half j ese percent., three percent, is less than the; ''1C Wabash has continued to rise since average loss to the people uf the State, our ' lSt ar"l s now generally over its on their exchamre and it ii an imnor- , hanks above and below us. wherever tuv

taut

indifference. Our impoits from the,arehjvv. All ihe streams and rivers in tho

east are estimated at about two millions of dollars annually. One half per cent, on that would be S10.00t, but three per rent, is SsP.OOO. The difference is Sot) 00 I per year. Upon this estimatt the loss of the people of this State, since the be bank of the U. S. was crushed by J be administration, may be calculated. J th It exceeds sblhOO'). The loss to the peo-, pie of Indiana) is just about the differ- j ence between 60,0 K and $ '60,000. So much, sir , for the effects of the humbuggers on us in exchanges alone! No man can controvert these estimates. No public man amongst us can fold his arms and say, what of that? Iteannotbe passed over as a slight matter. It is seiious to the merchant, but mare serious to the people, who are compelled to repay to the merchant his exchange, with the usual profit on it. Will the eulogies of your party, sir, on the late and present gracious administrations, or will the solemn mock eries of the grntleman from Dearborn, give back to our people this uionev? Your eulogies are but tinkling sounds your promises are but chaff; we want corn. (To be concluded next iveek.) Thousands are hated, whilst none are ever lovd, without a real cause. The nminMc a'one cm be lotcd.

r rjn rjiTi tI

- I X k'V , "Ti IRIO - . The V.i'.o-i tf fie Wkiirs for tUe tc'ce of th Union." NOMINATION DY THE WHIG N ATXOKA J. CONVENTION. FOK PRESIJ;NT. WILLIAM HEHRY HARRISON OF OHIO. FOR YICE-FKESIDENT. JOHN TLER OF V1BU1MA. p-T O.i: TERM.--Mr. I'ldlkt-.n. uf ULi... Mau-o in me omcmiu,., u vus n, Vxxi, u; i: imiv v . ij . , T,,:R WJJIU UO(;T.;l.r:.. One Vrci. wt Termthe J.itcsrit, of the Public terVlllfs the saf'rl t of lite l' lht c Monet and th itnci L'.l v,)d f t!.L I'copL'." ti i: liarbintr. . : FOft OOVKRNOK, , fcaBeejM. li 2, of Bush County i:ort LIEL'TENAXT GOVfTlNOll, StXATOltl U., JONATBAN M.'AKTV, .fl'-yrtta. fci'JSLBMi i- M -'.KSllALL, of KiLitoi. n c r r. it s l n x a t i v e , 1st Di-mLt, John w. rtm, of Hur;ion.

h. w . TiHvursoN, of Lavtrcii--, rcszvH i.. wiuri, t-f JefTeuorj. H.'IH H. I'itAliXS, tf liiplr. ctitu n. smith, cf Fayette. wm. HKrtu.'t, uf UarthoIoDiew. hlniiv s. i.ins, of .Montotm-rj. Whig Committee of Correspondent e t f Ikiioi: eouiiivSatr.ud H'ul, Hiram 7Jcck?r, Ii. Cad tiiuztiHi, fe rg-c Ii. Gibsju, ll'm. 11. MvCoru, ..'.','; (J. .Sloo. We are authorized t aiiiiouncc Benjamin F. Noiton as a candidate for Consiuble at the a;proachi:.g April election. We are at thorize.l to announce Leri Cornoyt r as a candidate for Constable ht the coming t eciitm. We are aud.orized to announce William drcen as a candidate for Constable &t th ensuing election. We a:e authorized to anna'iiice Thnrn Wc hoi; as a candidate lor Constable at tho April election. We are authorized to announce E. M. Jones as a candidate for Countable at it. 4 April election. W e are autlioriz-d t. announce Daniel P. Mc'Donald as a candidate fur Constable at thi approaching election. Weaie audiorizt-d to announce Wtllium (iarn.T as a candidate for CoiMtabe at the ensuing election. H.. Ciul lin "ton. J'lease to say in vour next paper thai J-ernul Gardner will tt-rve as Constable , of incennes Township, if elected. pursue 1 l,y Murris and Co. towurdd Uolton and pursue 1 by Murris and Co. towur m. 'trci '. Aiutria.n. ISot quite. They (Bolton and Cain) ighl to be driven with hisses and scofl" The editors of the Paoli True Arnerimight belter be a little careful how vadey, are also high. White river, it i said, is higher than it has been for twenty year-. Fmbairass is also very high. .1cciuc:-it.Vhe Great Western Mail, hence, west, was lust, with a: Embarrass river, on Thursday morning List. The river has risen so high, a to r,un around the west end of the Lridge, and lae driver and others not being aware of Uy washing having taken nlace. naxt! over, and was immediately cnemlphed. in cngulphed in a vortex seine fifteen feet deep. The way mail only was saved. The driver swam to shore. Happily, there were no passengers in the stage at the time. v e ara requested to say that the regu lar montijy meeting of the "Old Kno i emneraitce Sor-iety," will take place at the MeKiodist Episcopal Church, on Monday evening next the 2d .March at early candle-lighting. The members are requested to attend, and such of the citiz-ns as feel friendly to the cause, are invited to be present. " We hear that almost the last act of our loco-foco legislature, was to pats a stay law, the tendency of which will he tr cripple business of h!1 kind, and fottr roduce.

2J i'j. :3I Jo. 4th tie. 5th J.. Gth do. 7lh d.,.