Western Sun & General Advertiser, Volume 24, Number 42, Vincennes, Knox County, 16 November 1833 — Page 1

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BY VIBTCEBTKSS, (&.) SATURDAY, 2XTOVSI.2BBB, 26, 1333. VOL. 2STET. BTO 22

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to the people shall be equally disastrous. ! dy enterprise and industry, the country And as for charter limitations thcAisto-1 had began to assume those appearances of ry of all corporations prove, how utjly ; comfort and domestic ease, which are insufficient arc all such guards, topiVpct j characteristic of the older settlements. the people against their encroachments. j In addition to extensive tracts of land A weakness is detected, a vulnerable purchased from the government, the set-

LIST OF ASSNTS. John Murphy, Washington, I'id. John Vantrues, do do. John Arbuthno, Princeton, Ind. John I. Neely, do. Thomas Cissell, Mount Pleasant, Iud. Post-Master, Owl Praiiie, Ind. Post-Mister, Bloomfield, Ind. Post-Master, Sandersville, Ind. Post-Master, Owensville, Ind. Post-Master, Stinkard's Mills, Ind.

Jesse Y. Wilborn, Mount Vernon, Ind.

Levi Price, Evansville, Ind. John W. Davis, Carlisle, Iiid. Isaac Ong, Merom, Ind. Post-Master, Tir man's Creek, Ind. John C. Reilcy, Lawrcnccville, 111. Post-Master, Palestine, III. Post. Master, Booitville, Ind. Post-Master, Rockpoit, Ind.

FKOH THE CINCINNATI REPUBLIC .VX. NO. I. Gentlemen Editors. Among the topics, which at present occupy your columns, I observe, as not tho least interesting, a discussion concerning the policy of renew

ing the United States1 Hank Charter.

Mi"ht I ask the privilege ot appearing be

tbrc your readers, in an occasional article

upon that subject. There his been, in my opinion, one clear and decided expression of public sentiment upon that question already: but the Dank, as if dissatisfied with that decision, has intimated an intention ot again presenting itself before the representatives of the people, and of renewing its application for a continuance of i's charter privileges. This intimation has called forth this second examination into the pretensions of the Bank; if I am not greatly misled by p renin t indie? lions, it will be of the most searching and thorough character: and if lam not equally

deceived, too, as to the result ef that ex

amination, long before the hrst ot 1)

ccmbernext, the opinions of tho people.

will have assumed so unequivo-vil ana confirmed a hue, as to leave little to th conjectures of the next Congress upon that head. Tho subject is indeed one of very vital importance, not only to tho individual interests of tho citizens of the United States, but it is important, because of tho influence which it exerts over the institutions of our country. Daring the perixl of seventeen years, so extensive and multifarious have been the operation of tho Bank, that we find, it has enabled it-elf to lnviv.ne interwoven with tho business ot'

almost everv section of our country, and through the extended influence which it exercises over the currency, it may easily be imagined, haw its power may be conveyed even to the ballot boxe. The eves of the people have not been closed to the dangers that impend over them, and their institutions; their attention has been draw n to a sober investigation of the subject, and 1 entertain a sincere hope, that it will not be su tiered again to sleep, until they are enabled to make up an honest and enlightened judgment. In order to which, a vast fund of information is ne

cessary. It is not sufficient that wc have the former history of tho Bank before us, that wc trace it through all the sinuosities of its previous course, up to the consequences which have resulted ; it is not sufficient that we detect a ianieness in the present charter, whereby tiie Bank has been enabled to stretch its power beyond the point to w hich its framers would have limited it. No: to understand thoroughly, the influence and tendency of such an institution as the United States' Bank upon our interests and institutions, we must examine it thoroughly, throughout all its details, ramifications, and collateral bearing-. We may it is true, by observing narrowly the previous policy of the Bank, and the ctft-ets that followed its former course escape entanglements of similar Kinds, produced by similar causes but who does not know, that the course of such an institution maybe infinitely varied; and that w ithout falling once into its former track, it may produce conacqugcccj which

point is perceived in the present charter;

suppose we attempt to raise a barrier to prevent a passage through it? Ingenuity is at once at w ork, and soon a thousand other apertures arc discovered, affording equal facilities for egress and ingress thro' its paper walls. We must make up our judgment from the whole case, and if, peradventurc, wc find, that present case, and security stand arrayed against future peril; if we find this, it is necessary in order to preserve our invaluable institutions from the con

taminations of Midas, that some present temporary evil mifst be submitted to; pa

triotism, I trust, will cast a sufficiency of

weight into the scale to kick the beam, and decide for posterity. But I apprehend that sacrifices of any kind will not be found necessary. If the people will but take the subject fairly into their own hands, I feel well assured, that the croakings of the interested, and the cries of the timid, about ruin to individual prospects, and desolation to the country, to be occasioned by the overthrow of this gigantic monopoly, will find no answering voice in

the reality. In the examination upon which I am about to enter, it may be, that I shall differ somewhat with others of your correspondents, in the view which I shall take of

the subject; but as their aim is, I doubt n t, the public good, nothing will be lost, I apprehend, by this diversity of views; the whole subject being at hist for the Dubiie's decision. I hope before I leave them, to probe it to the bottom, and to ascertain the nature uf the disease; so that

the proper remedy may bo applied. 1 lie sulject is somewhat complicated, and one, to hich.the people's attention is but seld ;n ealieJ. The advocates of the Bank, knowing this, have been vigilant in continually directing the public eye to the surface; doubtlessly hoping, thereby, to keep concealed the rottenness within; the

exposure of which, they well know, would subject the instituti m to the prompt and decided condemnation of the people. 1 hope to prosecute the enquiry into this

deeply interesting subject, without sutur

ing any thing like personal bitterness, or vituperation, to interrupt the soberness of

dispassionate investigation, it shall ne

vertheless be a fearless enquiry; where

abuses have existed, they shall be drag

ged forth and held up to the public mdig

nation: and so far as is necessary for the

public information, the guilty perpetra

tors, with them. It is a subject for the

people's consideration, and they s

know the whole truth. I propose to trea the subject something after the following

order: I will endeavor to demonstrate,

that the introduction, originally, of the capital of the United States Bank, into the western country, has proved a great and permanent injury to its real interests. I will then pursue it through the first ten years of its history ; and, by presenting a few of the thousand cases of cruelty and oppression, which have been practi

sed by it, I hope to be able to prove, that the difficulties of that disastrous period, especially in Cincinnati, are mainly attributable to that institution. It shall then he mv aim to establish, that so long as the United Srates Bmk, or any institution of a similar character, is suffered to remain in the west, a recurrence of scenes, similar to thv.se which marked the period between ISPJand ISvIo, may be expected to return periodically upon us. I then

propose to institute a comparison between . r . .. .. i

nishing supplies for the government. The form such pleasant reminiscences for maBanks were satisfied of their abundant I ny of our citizens to recur to. And as if

abilities to pay ; and as no urgent ncccssi- it was not enough that wc should endure

ty for the immediate resumption of specie tue agony of w itnessing the monuments

the relative advantages of the United States'' Bank and a State Bank; after which, 1 will submit, tbr the consideration of the public, the project of a State Bank, to be under the supervision of our own legislature, to be based 'upon our own resources, and to be managed by our own citizens; and shall w:nk$i attempting to show, that this change iijou policy, can be effect!, without any Vhocfc, or vi

olence, to commercial credit, or to any of

the great interests of the west.

Should any one think proper, during the publication of these numbers, to question

my statement', or to controvert my posi

tions, I shall not stop to reply ; but when

I have done, they shall be answered. BRUTUS.

BANK.

UNITED STATES

NO. II. In prosecuting the inquiry into the Uni

ted States Bank, its nature and tendency,

I hope, in the present number, to be able

to establish that the real interests of'Xhe west have been greatly prejudiced by, the

introduction into it of the capital ofHhat

institution. For that purpose it will be

necessary to take a brief retrospect of the condition of the western country prior to the year IS 17. We will go back as far

m wV as 1SPJ. At that period, as can be abun dautlv proven by living witnesses, the cn

tire west was in a highlv prosperous ana

flourishing condition. The settlements,

more particulaily throughout the stato ot Ohio, had ari-en far above the condition of moueers. Although, in many case,, but

few years had rolled bv since the first o-

tlcrs had generally their farms opened,

their improvements made, their thoroughfares constructed, their villages and towns built, and rapidly improving; and already they had a sufficiency of capital and circulating medium for all the purposes of trade and intercommunication. They had their Banks, loo, with capital which was owned at home, and in the enjoyment of a sufficient degree of credit to afford them a salutary circulationIndeed almost every circumstance of that period, combined to render the citizens of the west a happypeople, and to presage, that ere long they would become great. This w as the condition in the year 1812, when war was declared between the United States and Great Britain. The geographical position of the west, exposed a very extensive and thinly settled frontier to all the horrors of savage warfare. The more remote settlements, although not threatened with the dangers which beset their mere distant neighbors, had yet ringing in their ears the shrill

notes of tho Indian war-whoop: having made their first opening, and planted their first corn with their rifles strung across their shoulders, tho yell of the savage was no new sound. At the first cry

of distress, almost the entire male popula

tion rushed to the rescue and succour of

heir suffering countrymen; nor were heir rifles the only evidences thev bore hem of their deep sympathy. Through i pathless wilderness they hastened as

fast as thev could cut their wav, with the

gathered stores of their granaries and

their shambles. It was the cry of distress coming from their countrymen, and with

the ardor and zeal fo characteristic of

western patriotism, and without waiting to calculate the consequences, they flew at

the call of their country to its defence. Nor were tho managers of tho western

Banks behind their fellow citizens in man

ifestations of devotion. Tho national treasury was empty, tho resources of the government were well nigh exhausted, its credit was crippled, disaffection to the cause existed in the cast, and desperate efforts wero nuking to cut off the supplies. In this nosture of attain?, tho western

Banks threw open their coders to thosuferiug country. Government, with its euep'ies strained to their utmost tension, was compelled to dxaw to the last dollar upon their resources; and avail itself still further of their patriotic aid in raising supplies for the northwestern army, was compelled' to recommend the suspension of specie payments. Thus throughout a period of three years1 war, these excessive drafts continued upon the young and ten

der west. From a country that had numbered scarcely twenty summers from the first

sound of the woodsman's axe in tho forest, with her people returning from a three

years' campaign, when every mi!3cle had

been stretched to well nigh

w hat could be expected ? They found, as

might have been anticipated, their grana

ries empty and their fields neglected. In

addition to which, their active means

were in the hands of the government,

which was not able to rotund them. But

although a great depression followed, by-

calling into exercise their youthful vigr

and stirring activity, so abundantly po

scssed bv the hardv sons of the west, the

evidences ot prostration soon began to

disapDear: IS 17 found them, if not en

tirely recovered from this exhaustion, ra

pidly convalescing. Every thing wore a renovated aspect; agriculture flourished; commerce was beginning to unfurl hers.df; the busy hum of the mechanic an 1

the artisan was again heard in tho work

shops, and cheerfulness sat smiling on the

countenance of our citizens. Tho Banus,

too, although they had not yet rosumed

specie payments, had sustained their credit; confidence in their solvency was unimpaired, and but little doubt was entertained that in a short period, all demands against them would be redeemed at their counters in coin. This was the condition of the western country in the year 1317, when that insidious reptile, the Uuitcd States' Bank,

crept in amongst us. As in the case of the tempter of our first parents, it3 coloring was gorgeous, and the accents of its tongue were soft and honied. It came loaded with promises and high sounding professions. It was not sufficient that wc were convalescent and progressing steadily to a state of perfect health. "Where was the wisdom of waiting the slow process of nature, if we could be restored at once ? It brought with it the 'balsam of life.' We had but to partake, and at once wo were possessed of all our native energies." These were the arguments by which we were beguiled. fc We suffered our credulity to repose upon its professions." We partook of the forbidden fruit, and if the consequences thereof

have not been death, many ot us, (to continue the figure) have been drawn out of the E lens with which we had proviJcd ourselves. Many of the debtors of the Slate Banks

payments at that time existed, they felt of our youthful enterprise, commenced in willing to wait upon their customers and j the w ilderness and reared with our own fellow citizens, until their resources w ere ; hands, the product of sweat, and frugal realized, which it was expected would 'meal?, gathered for the winter of our

shortly be the case, as the government had i years, swept at one fell swoop aw ay from

intimated, that all the claims upon it ot us torevcr; aud ourselves, our wives, and

.1.1 ". i

mat description, would speedily be liqui

dated. Early in the spring of 1S17, the

our little ones, turned out upon the cold

common of the world's charity, we

United States' Bank epened its office of i mut submit, too, to have our reputations

discount in Cincinnati. Under the plcdg- j blackened and defamed into tho bargain, es of forbearance from that institution, the i '"The people of the west are all a pack of

Sta'e Banks were prevailed upon to an

nounce their intention to resume specie payments at an earlier day than thev

illians," is the language of one of the

agent? of this institution, which claims to be a friend of the west!! In less thaa

knew to be warranted by their situations, five years from the opening of the camIn pursuance of that annunciation, they paign, the Bank was the owner, in fee commenced, on the first day of April, in simple, of property formerly belonging tothat year, to redeem their bills in specie, the people of Miami Valley, estimated to The United States' Bank commenced its be worth between three and four millions

ot dollars! And I mysclt have heard its agents boasting of the speculation con-

operations a short time previous upon a mctalic basis: and being a newly chartered institution of extensive capital, and enjoying charter privileges far above thse enjoyed by the State Banks, and not having tho difficulty to encounter of bringing up a depreciated eurrency to a par value, it is not surprising that it very soon usurp

ed the entire circulation. The paper of

the local Banks cam) flooding in upon them, and such unceasing drafts of specie were made, that (notwithstanding the Uni

ted States' Bank did consent, in mo:k sympathy, to withhold some smidl amounts

of paper, vpon condition that she was al

lowed interest, and vennitted to hold tnc

best personal securities of the local Banks

m collateral security,) in a short time they were compelled to suspend specie operations a second time. This was the signal for their final winding up. The vampire fastened upon them, nor did it release its hold while a prospec. was left of finding

another drop of blood. And this period may bo dated as the commencement of

that series of troubles, embarrassment?,

gralulating themselves upon the immense sums the Bank had made in Cim innati! 7'Am, admit was some years since. And this Bank has the hardihood to ask the citizens of Cincinnati to assist it in obtaining a renewal of its charter! Shamef where is thy blush.' In my next number, I will review, briefly, the hisU.rv of th Bank during the period between lSlO and 1SC'5; and I hope to lift the veil from ff some transaction, of such hideous deformity, as will determine the people at once to overthrow this worse than Spanish inquisition, and to cxtirpa.e it from out the land. BilUTUS.

STATIONS OF PBEACIIERS. We subjoin a statement of the Stations of the Bleachers appointed by the Indiana Conference of the Me hlist E piscopal Church, at their late ses-ion. Madisox Dictiiict A. Wiley, Prcsidintr Jlldcr.

and disasters, which will render the years Madison. Lorenzo P. Smith.

Vcvay. Richard S. Robinson, John W. Holland.

Laurcnccburg.'m. M. Daily. John

iMinei. Whitewater Charles Bonner, John Robbins. Wayne. John C.Smith, Isaac Kimball. Xew Cattle. Robert Burns, one to bo supplied Conncrsrillt John W. McRcynolds, Jas. Harrison. Grccnsbitrh Joseph Tarkington. Vernon J oshua W. Law, Rob't. Johnson. Indiana rous District James IIavexs, Presiding lllder. Indianapolis station Calvin W. Buter. Indianapolis circuit John W. Sullivan. Rvshvillc Isaac N. Ellsbury, David Stiver.

Fall Creel Ancii Beach, Lemuel Reeves. Columbus Spencer W. Hunter. Franklin Amos Sparks. lUoomington Win. II. Smith. Danville Joseph White.

j Moorcsvillc Philip May.

between 1819 and 1S'25, memorable in the

history of the west. The great mass of the people, ignorant of the designs which the United States' Bank had upon them, and relying in the most unsuspecting confidence upon the promises of that institution, were induced to transfer their faith and their patronage

from the local Banks those institutions

whose operations were so intimately inter

woven with their own, as to make it their mutual interests to sustain each other and to throw themselves into the embraces

t this monster, leaving their early allies

and real friends, soon to fall into its rapa

cious jaws. But thev were early arousod

to all the consequences of their fatal error.

In addition to those who had voluntarily

placed themselves in the power of this

faithless institution, the State Banks, af

ter their prostration, were compelled to surrender those of their friends, who yet

clunir to them, victims to the tender mer-

cies of their own destroyer. The United

States' Bank, by being made the disbursing agent of the government, had trans-

to the government, was then in the State Banks. This, together with the paper which it held of the local Banks, made them considerably its debtor. This debt

thev had little means of liquidating, other than the personal securities which they held of our citizens. These, after enduring the grasp of their destroyer until all other prospects of escape had vanished and after all hope of resusciation had departed they at length reluctantly surrendered. So, that the year 1819 found the reat mass of our most valuable and en

terprising citizens, together with the entire western currency, in the power and under tho control of the United States' Bank. And how wa. the power, thus sur reptitiously obtained, employed'? Did the

Bank, now that the people, by placing

ClIARLESTOWN DlSTHICT W?T. SlXASK, Presiding Elder. Charlcxtoun Jdin Miller, George M. Beswick. JYot Albany To be supplied. Jtjftrsonrillc Edward R. Ame.a.

Corydon John Kern., Eiij di Wiu'ttcn. Paola Henry S. Talbott, Jesse Haibir;. Bedford Hiram Cirigg. Salem Zachariah (iamc3. Lexington Josepn OgJcsby. Brown stolen- 3. T. Johnson. Yixcnsxns District J. L. TiioMrsorr, Presiding Elder. Washington Miles HulTiker lleckrillc Samuel C. Cooper, Henry Deputy. Tcrre Haute Richard Hargrave, Win. Watson. Carlisle John Richey, James T. Robe.

Princeton Enoch G. Wood, Cornelias Swank. Boonr'tllc Thomas Ray.

peiu) had btca made, yet by dut kar! hi L'veu engaged, duriufc the war, m ;-.i-

tnmcol i irilnnt.inlv in if o ririivor Vin!

:. ,u uQ ;.u.,.u ,u, i.i:. i Petersburg Samuel Julian.

" I V til it iiii; uc:i Lttuwiiwi liiui uivt uttii. - I .

ed it3 faith would be kept, and its promises redeemed, take them into its paternal L-oorkitirr n rwl liv rlonlinir ivitlt tKorti in thpir

rv-v will , t . ... ....... ... w.-,.. t I 1 i " "iT-.t T-r t dependent condition, repay them for their Nt-heniiah L. Griffith, Hackaconfidence? Did it give to the people of liah rdenOurgh the west in lieu of th-3 currency which had Cra-ffordndlcba A Browse, Da.;icl 'noon fnrnUtiPfl tliMm t,v tw Inrn! Rink, n atKiaS.

medium equal to gold and silver, sufficient ! Orecneastle Thomas J. Brown.

for the purposes of their rapidly extending and diversified trade? Ask the Baum's, the Perry's, the Lyle's, the Wallace's, and the hundreds I was going to say the thousands of other?, who yet live to bear their damning testimony against that foul and faithless institution. In the year 1S19, the plans of the Bank were surTi ciently matured for the last act of the tragedy. Enough were already entangled in the meshes of the net which had be?n thus warily laid, to warraut them in making a haul. The dors of the Bank were closed, and those of the conrt-house were opened. The bland ani gentle invitations of the Bank to come itnd partake cf the favors which it was scattering with so liberal a hanJ, were now exchanged for a tap on the shoulder by the Marshal or the Sheritf. Then followed all those pleasant accompaniments of jails, journeys to Columtms,cost patents, valuation juries, ex

ecutions, humble supplications for mercy,

Xortii Westekx Distrh:t J. Arm

strong, Presiding Elder. St. Josephs John Newell, Edward Smith South Bend Bovd Phelps Pine Creek Wifliam Ciaik. Carroll Enoch Wood. Frankfort Stephen R. Ball, Wm.Campiell. Tippt canoe and Ed Rive r Mission Amassa Johnson. Mawnce and St. Marys Mission- to be supplied. Kalamazoo Mission. Ric hard C. Mer-!;. Missincway Mission. Freeman 1'aruti worth. Nothing does more hurt in a state than that cunning men pa-is for w ise oiic. What is called tiie law of nature i made up simply of twothini sclf-intcr-est and reasoii. Be children in malice, but in under? standing be men.

Trust that man in nothing who his njt

IHillllUllS, UUWIUIVJ S'tJ'J"-1-,7 " suul tfwuiui iiuJ ou ct cetera tfcau caiciwc ia vcrv thn,

-v.- f -' " "-