Western Sun & General Advertiser, Volume 25, Number 28, Vincennes, Knox County, 2 August 1834 — Page 2
Tor compensation lo Robert Mill?, the
architect employed bv order of the House of Representatives to" superintend the alterations in the Representatives Hall according to the plan of said Mills, one thousand dollars. For tho repair and completion of the United States Marine Hospital in Charleston, South Carolina, one thousand one hundred dollars, to be placed at the dispell of the intcr.dant and wardens of the said city of Charleston. For pay and mileage of the members of Congress and Delegates, seventy thousand
and eighty dollars, in addition to the appropriation made by act of the eleventh Jay of February eighteen hundred and thirty.four. To enable the Directors of the Mint to procure the requisite apparatus for parting gold and silver by the sulphuric acid, and to establish a refinery for that purpose on the most approved principles un
der the control of the institution, seven
thousand dollars. For payment of preparing, printing and binding the documents ordered to be printed by Gales Seaton, forty thousand dollars, under the same restrictions and reservations as were contained in the
eppropriation for the same object by the net of the fifth day of May eighteen hundred and thirty-two. For payment for printing the documents relating to the public lands, ordered to be printed by the Senate of the United States, and for binding and engraving the nccessary maps, forty-two thousand nine hundred and sixty dollars, to be disbursed by the Secretary of the Senate whose accounts for the same shall be settled and adjusted at the Treasury in tho usual manner For the contingent expenses of the Senate, in addition to the appropriation con-
lit taincd in the act of the eleventh da' of February eighteen hundred and thirtylour, forty-six thousand two hundred and ninety-four dollars. And for the contingent expenses of the House ef Representatives, in addition to former appropriations, thirty-five thousand dollars. To enable the Secretary of the Treasury to carry into effect the act entitled "an net for the relief of certain insolvent debt
ors,"' approved the
vided that nothing herein contained, shall be construed to make any thing but gold and silver a tender in payment, of any debt due from the United States to individuals. Sec. 4. And be it further enacted, That the Secretary of the Senate be and he hereby is directed to pay, out of the fund appropriated by law for the pav of mem
bers of Congress, to Elisha It. Potter of
the State of Rhode Island such compen
sation as is allowed bv law to members of
Congress, for his travel from his place of residence to the city of Washington, to claim a scat in the Senate and for his return and also the per diem compensation for the days he was in actual attendance at the seat of Government from the commencement of the present session of Congress, until the final decision by the Sen
ate against his right to the seat so claimed by him. Approved, June 2rth, 1834.
seventh day of June and thirty-four, five
eighteen hundred
thousand dollars
For payment of balance due the reprc
scntatives of Samuel liabcock on settlement of his accounts, one hundred and forty-six dollars, twenty-three cents. For payment of balance duo Gurdon Trumbull, Superintendent of the public works at Slonington Harbor, two hundred and sixty tw o dollars sixteen cents. For payment of Major P. II. Perrault, balance due on account of the survey of the harbor of St. Augustine, tw o dollars and eighty-four cents. For payment of balances due Joseph 1). Selden, superintendent of the erection f a light house at Bufialoe and Erie, one thousand six hundred and ninety-seven dollars and sixty -two cents. For payment of the arrearages due contractors on the Cumberland road in Ohio, one thousand six hundred and nine dollars thirty-six cents. For the expenses of a "Digest of the existing Commercial Regulations of foreign countries" now in preparation under a resolution of tho House of Representatives of the third of March, eighteen
hundred and thirty-one, the sum of five thousand and one hundred dollars. Sec. i!. And be it further enaeted,Thnl tho Secretary of the Treasury be and he is hereby authorized to pay to the collectors, naval ofliccrs, surveyors, and their respective clerks, together w ith the weighers of the several agents of the United States, out of any money in the Treasury not otherwise appropriated, such sums as w ill give to the said officers respectively, the amc compensation in the year one thousand eight hundred and thirty-four according to the importations of that year, as they would have been entitled to receive if the act of tho fourteenth of July, eighteen hundred and thirty-two, had not pone into clVoct : and that the clerks employed by the respective collectors, naval ofiiccrs aad surveyors of the several ports, t-hall be paid for the year one thousand eight bundled and thirty-three as if they had been specifically included in the third pection of the act of the second of March, of said year, entitled "an act making appropriations for the civil and diplomatic expenses of the government, for the year, eighteen hundred and thirty-three:" provided however, that in no case shall the compensation of any other oflicers than collectors, naval officers and surveyors, whether by salaries, fees, or otherwise, exceed the sum of two thousand dollars each per annum; nor shall the union of any two or more of these offices in one person entitle him to receive more than the sum of two thousand five hundred dollars per annum; and provided, also, that no officer shall receive under this act a great-
annual saiarv or compensation than
From the Louisville Public Advertiser. THE BANK SEIZURE. The article we copy below from the Globe must make a powerful impression on the minds of honest men of all parties. The Bank, rendered desperate by the vote
of the popular branch ot Congress against aienewal of its charter, and by the manifestations of public sentiment against it in Pennsylvania, New York, Virginia, ecc. is committing o ;-age upon outrage violating its charter, defying the government, and seizing upon the public money in a most daring and unlawful manner. The recent refusal of the Mammoth to submit to an investigation of its books and proceediugs changed tho minds of thousands w ith regard to the expediency of rc-
newing its charter. That act caused Mr. Coulter and Mr. Stewart, of Pennsvlvania, to declare in their places in Congress that the course and conduct of the institution could no longer he justified, and increased the majority in the House of Ilcj presentatives against it, from 53 to 75 or jbO. Now wc find the bank seizing upon the dividend of the government, for the avow
ed purpose of paying damages to herself on the bill heretofore drawn by the U. S. government on the government of France. Thus the Bank decides on its own claim against the government, and proceeds to
'enforce what it pleases to term its own
rights. A few weeks since it defied the House of Representatives now it is violating the constitution and laws and defying the whole government taking public
money, wtnen u covuu not rightiuiiy use
except under an appropriation by Con
gross. Individuals having claims
government, however
against
sci-
gov-
govern
or annual salary or compensation
was paid to such etlicer for the year one thousand eight hundred and thirty-two, provided however, that the number of officers to I c employ oil in any of the custom houses shall not be augmented beyond those now in service; and provided further that the said collectors, naval officers and surveyors thai I render an account
ouarterlv to the Treasury and the
officers herein named or referred to shall i . i . . i
eran account quarterly io me respecc Hectors of the customs where thev
the
just, are compelled
to petition tor relief to ask appropriations to meet their demands. But the Bank
cannot condescend to petition Congress.
She not only seizes w hat she claims, as
damages, on the bill on France, but threat
ens to take additional sums of the public
treasure, to indemnify her for the losses, which she pretends sho has sustained by
j the removal of the deposites.
I hough she was curtailing before the
deposites were removed though she had
avowed her determination to go on calling
in her resources though she had no dis
position to bank on the deposites, but had resolved to hold on to them, and to press
me commercial community in order to make them cry out for a renewal of her
charter, shew now contemplates the zure of the future dividends of the
eminent, it not the stock ot the
mcnt, to satisfy a claim which she intends to set ill), for damages sustained by her in
consequence of the removal of the depo
sites. It the people ot this country shal countenance (much less justify) such con
duct, they wih be considered by the whoh i it
civilized world, as mere slaves ot a mon
eyed aristocracy :
LATEST BANK OUTRAGE. On inquiry at the proper Department, wc learn that the rumors alluded to in our paper of Monday last, are well founded. The Bank of the United States, taking the law into its own hands, has seized on a portion of the dividends on the govern ment stock, to cover the pretended damages claimed by it on the French bill, stated in their accounts reported to Congress to be 15S,Slvi 77. This act has no parallel for audacity, except depredations sometimes committed on the treasuries of nations through fraud and violence. In the first place, there is no equity in this claim. The Bank has never incurred the damages claimed, nor any part of them. The Bank agreed to give for the bill drawn on the French government, as appears by the report of their Directors, published in December last, $903,505 89. but the piice of the, bill was never paid. Xot a dollar ever came into the public treasury on account of that purchase! It remained in the Bank, and was used bv it during the whole period the bill was absent in Europe. The bank may have entered the sum to the credit of the Treasurer on its books; but the Treasurer never recognized the credit by bringing it upon his own books. Had he done so, it could not have been refunded to the bank without an act of Congress; for "no money can be drawn from the treasury but
equonce ot appropriations made
the house of Huttengeur, 3f Co. of Paris, stepped forward, and paid it out of the
funds of the Bank) then in their posses
sion. - -
NoWj what damage was this to the Bank T It had tho use of the original purchase money of the bill, amounting to $903,5H5, in America. It had raised about the same sum which was then in the hands of its agents, by sale of the bill, in London. Instead of advancing a dollar of its own funds to take up the bill in Paris, it had previously raised those means out of the bill itself, in London. The Barings had but to pay over to Hottenguer, &. Co. the moneys they had received for sale of the
bill, and the whole attair was adjusted in
Europe, as it was in America, by an entry UDon the books of the bank. So far
from paying out any of its own funds on
account of this bill, cither in America or
Eurone. it actually obtained, through its
instrumentality, the use of an additional
sum equal to its proceeds, from the day of
its sale in London, to that ot its payment
in Paris.
But if the Bank had advanced its own
funds in Europe to nay this bill, it had the
use. at the same time, without charge, of
public moneys in America to many times the amount: and considering that it was
the fiscal agent of the Treasury, this de mand for excessive damages would stil
have been most unconscionable. The
average amount of public moneys on deposite in the Bank of the United States from 1S18 to 1833, inclusive, exceeded six millions seven hundred thousand dollars, which at an interest of six per cent, would yield 402,000 dollars per annum, or &G43'2.000 in all. During the time
covered by this transaction, the deposites
of public money, were as follows, viz:
833 February, $9,520,099 March, 10,115,025 April, 8,400,830 May, 8,321,432 Now, if this honest and faithful agent
of the government had advanced the mo
ney in Europe to pav this bill, it would
seem that the gratuitous use of so manv
millions in America, at the same time.
ould have been an adequate remunera
tion. Uut w hen it is considered that it did not advance a dollar, but actually raised
in Europe, out of the sale of the bill itself, the means by which it was afterwards
aid, (never having paid into the treasu
ry the original purchase money of the bill
;it home,) the claim appears a thousand
times more unconscionable and wicked.
The Bank has on its side as little law
as equity in this transaction. The paper
was not a mercantile bill of exchange, and if it had been so in form, no rule can
be found, either in the legislation of the states or of Congress, or in the law of na
tions, which subjects the government, in
its pecuniary transactions, to the responsi
bilities prescribed for the purpose of sus
taining mercantile credit. ISieither the
law, nor the reasons of the law, relative
to exchanges, apply to the transactions of government. But we are not prepared, if
we were competent, to enter into a minute
disquisition upon these points.
It this claim wero valid, the circum
contemplation to set up a claim for dama
ges for the removal of the deposites! Last year the Bank refused to give" up the
Pension books and Pension money; now it seizes on and applies to its own use the
government dividends, under pretence of
a claim for damages never incurred; and, at the same time, it lays a foundation for .J- . J" 1- i
seizing upon ine government aiviacnus in future upon the government moneys still
in its possession and even upon the government stock itself !! Setting up a claim
for millions on account of a removal ot
the deposites settling its own account,
and rendering judgment in its own case, it
will do execution upon the public money
and property within its reach, and rely for
support in the outrage upon its dependent
debtors and corrupt instruments in the
nress. and in the various departments of
the government!
Will not the whole people now open their eyes? Will the Bank hereafter find
a single advocate, except those who are
touched by its money ?
stances, time and manner, in which an at
tempt is made to enforce it, characterize the movement as most extraordinary. The Bank has never asked payment of it
from the proper authority. Mr. Biddle
very well knows, that the Secretary of the Treasury has no more right to pay it, even if its justice were undoubted, than he has to apply so much public money to his own use. It can only be allowed by the Congress of theU. States, and paid out of an appropriation made by them for that purpose. The claim was first set up in May, 1833, and the Treasury Department then refused to recognize it. In July, 1S33, a dividend was declared, and the government's proportion paid into the Treasury. In January last, another dividend wasde
in cons
by law.1 Upon the return of tho MM th
. - - "J wiu other (government refunded nothing to tho It,l-
ren five
but the
are em;)
on
Trea
v hatev t. . end of at ' pectiv e oh
tendered
Le in such
proofs, to le pr sc. il of the Treasury, n enforce the j "cvv its opera;
ed. to be
of all the fees
'y them respectively ' 'M'liH-s incident io
which accounts h or affirmation.
form .:nd I e supported
! never having received the money
i matter w as adjusted by taking from the Treasurer's account on the books nf ttQ
lorwarded to the j hank the credit which had been mvpn Li
and emoluments ! Tho B.m!. therrft
7 " ' ' k'VAtxj n. um
mil, nor was u uepriveu ot the use of dollar of its funds by the nurchase.
Nor did the Bank advance a dollar, di
rectly or inuircetly, to take up the bill
Europe. It was sent to the Barings in London, who wore agents of the Bank, and it is allege. I, was sold by them. If such be the tact, the proceeds were entered to the credit of the Bank on their books,
received, their resshall be and shall by such
u iy ine secretary will in his judgment 'tons of this section id ctfeet.
And be it j cr enacted, That t of the u.wiiev, appropriated any other act passed at the of Congress, bha! I be made, tes of any bank, which
one
in
and while that institution trad the use ot
the original purchase money in America, it obtained the use of a like sum by sale of the bill through its agents in London.
When presented for payment by the as-
par value at the place ( - igr.ces of the Bank, it w as protested, and
c'arcd, and the government's proportion again paid into the Treasury. Congress met on the first Monday in Dec. 1633, and sat until the 30th June, 1834; but no application was made to that body to allow this claim. Although Mr, Biddle well knew that no other power in the government could allow if, or provide for its pay
ment, no petition, no request, no appeal,
no remonstrance was addressed to that bo
dy, praying or demanding an adjustment.
But as soon as Congress has adjourned,
he comes forward and asks the Secretary what is the final determination of the go
vernment in that respect, knowing that
the Secretary has no power over it; and
when answered that the views of the
Treasury Department remain unchanged,
he takes the law into his own . i
seizes on the public money in possession of the Bank, to satisfy the most unfounded
and wicked claim!
There is a law on the statute book
which provides that nodebtor of the
ernment shall be permitted to plead any
mauc r or ciaim as a sei-on in a suit a-
gainst him, unless it shall first have been presented to the proper authority for settling such claims, and rejected. The bank has not submitted its claim to the proper authority but has undertaken to settle its own account, enter up judgment in its oicn case, and do execution on the property of the government in its own possession!! By the constitution no money could be drawn from the treasury to pay this claim, "but in consequence of appropriations made by law;1' but the Bank attempts to evade the constitution by seizing the public money before it gets into the treasury, snatched the case out of the jurisdiction of Congress, and relying upon the Judiciary to make an appropriation for its payment, thus prostrating one of the most important barriers raised by the constitution for the safeguard of the public moneys, h is a device to get a claim upon the government paid without an appropriation, and take the management of the public moneys, as far as the Bank is concerned, out of the hands of Confess, and jyut it into those of the Judges? And what may wc expect next? Why, the Bank has told us w hat wo may expect. We understand that on the same day that this resolution of the Bank was communicated to tho Secretary of the Treasury, was also officially informed, that it vxts in
UNITED STATES BANK.
We publish below, a correspondence
between a committee appointed at
highly respectable meeting of Merchants
in this city, and the President of the U.
States Bank. We are glad to find that
t7 the consideration on the subject of an en
largemcnt of discounts on the part of the
Bank, to which wc alluded the other day
ha3 resulted in a determination to do
whatever the wants of trade may require
The enlargement has already commenced
here, in Boston and else where ; and in fact
orders have been despatched on the sub
ject to all the offices. A revival of confi
dence, of business and of pleasure in do
ing business, may now be expected, and
with the more assurance, as we learn that
whatever the extension of accommoda may be, it will be maintained until the ex
piration of the charter, When, shoul
the uanK not be ante to procure a mo
dificd renewal, wc expect confidently that
its affairs will be closed m a manner satis
factory to the commercial community, and
so as to agitate the money market as little as possible. Journal of Com. The Bank finding that Congress and the President were not to be intimidated from their duty to the public, so as to renew the charter that the new system of deposites and disbursements was operating to a charm that the vigilence of the Treasury Department, and the energies of the People, were overcoming all obstructions, removing all panics, and rendering the contractions and machinations of the Bank harmless the mammoth now forsooth condescends again to open its marble jaws, and attempt to cajole the country bv new issues of its rags to enable
its servile partisans to operate on the com-
aftcr them lo renew
again its contractions and the iron gripe
of its screws.
After bullying the President after set
ting the power of the House of Representatives, through its examining committee, at defiance after withholding the money from the War Department, dedicated to sooth the declining years of the old revo
lutionary soldier after seizing on the public deposites without law or equity with
out permission or precedent, in order to emlarrass the Treasury in its expected
revenues for the present year now for
sooth, it has become very patriotic very
kind to the public and to the government and expects the latter, for all its recent favors and kindness to it, will consent to "a modified renewal of its charter." If Mr. Webster tried the "modified renewal1? before the contempt flung upon the committee of Congress, and the sequestration of the public dividends, and ave it up in despair, is he such a green horn as to anticipate a "modified renewal" now after those outrages? Can he get such renewal? The people will tell him
the relief and tupport of the commercial interta of tbe country-And we will not doubt its concurrence with ut in these views, which so naturally result from premises which must be equally apparent to
it and so to us.
In the true spirit which should charac
terize the intercouse between mercantile
men, and the direction cf the great organ
of commerce, a National Bank, (and in
uie increasea necessity lorsucn an msiuu-
uon, our latter experience confirms our
former opinions,) we will frankly slate
our views to be that the system of restric-
uon auoptea by me UanK last autumn,
should now be entirely abandoned, and in
its stead, that a course of free and useful
enlargement of its loans, should be sub stituted, to the extent of five or ten mill
ions of dollars, at such place?, in such amount-?, and in such manner, as mav
most effectually restore tho operations of the Bank to its former beneficial influence and meet the obiect proposed, for reviv-
ing public confidence, and of giving relief and support to a community, accus-
coosideration of your views with every
disposition to concur in them, to far at the
state ol the institution and the principles on which they think it prudent to conduct If . Mi - -
ut anairs, win permit
I have the honor to be, rcsptcfully yours, N. BIDDLE. President.
To James Brown, John Haggarty, James
u. King, U.ti. Kussel, Ueorge Griswold Thomas Tilcston, John W. Leavitt, John A. Stevens, Jonathan Goodhue.
rsosrLCTUs OF THE DAILY NORTH AMERICAN. On the eve of being prepared to commence our Daily North American, wc t
nave concluded to alter our nrsi arrangemcnts for its publication, and to issue and conduct it on a plan believed to be entirely new in this country, but which has been successfully practised at London, Paris and other European Capitals, and which 1. 1.1 i r i
is iiigiuy upprovea oi ana warmly encou
raged by numerous eminent gentlemen connected with our public affairs, to whom
u nas necn submitted. Instivul r,f nr ..i.
ing it on a large imperial sheer, with thi long and dull drawn reports of the proceedings and speechc? in Congress, insert
ed at the tedious and unreadahlo !onrtl.
in which they have heretofore been pre
sented in the journals at the scat of the General Governement. our Dailv nnnr
will be issued on a medium sheet, containing brief and comprehensive sketches of the proceedings of both Houses; the most important public documents, as soon cs they can be procured for tho press; and editorial articles on general politics, literature, and other matter of general public interest, and comprising full views of the slate of affairs at this Metropolis, and of tho news of the moment, up to the hour of the closing of the eastern mails. Each Daily number will present a brief account of what shall have beca goin on in both Houses of Congress, up to the hour of its being put to press, every evening, which it will be within the hour before the departure of the eastern mail For this purpose instead of employing as at first contemplated and heretofore practised, mere reporters to detail, at minute length, the proceedings and speeches in Congress, we have engaged the services of two gentlemen of extensive political information and known talent, who have distinguished themselves durin the nre-
seiu session oi -ingress, by their spirited and interesting sketches of debates, given in letters from this city to distant journals, from which they have been extensively copied and read. One of these gentlemen will constantly attend in the Senate, while in open session, and the other in the
House ot Representatives, and their skct-
tomed to rely upon bank facilities, for the commencement and continuance of their
usual commerce and trade.
These of late has been most unfortuna
tely interrupted, if not paralizcd.and can
not be generally or usefully renewed ex
cept by the full and free co-operation of the Uuited States bank, as now indicated especially by those who, although
rich in enterprise, skill, and character, are yet deficient in actual capital a class
which constitutes the bone and sinew of
our community, and is destined ere long, unless prevented by a continuance of untoward events, to furnish leading men in influence and wealth. By 6uch a course adopted by the United States Bank, publicly proclaimed and
zealously persevered in for twelve months
at leas', ( which will afford ample
time for any measures of precaution on its part prior to 183t,) the most beneficial consequences w Tild be secured the al
most cxtint impulse of private credit would
be revived manv of the great evils of
our present condition would be removed
--the usual facilities of business in all
its ramifications would be promoted the
recent lessons of suffering would be ; security against overtrading, and th
commerce and trade of the nation would
at last measurably resume, activity, vigor
and prosperity.
1 lie intercourse ol the Bank with its customers would thus be replaced upon its
lormer footing of mutual benefit and the interest of both be promoted by so natural and wise a policy, w hich to be of the greatest advantage, should bo of the longest possible duration, so undcrsloood bv
all parties. V l. .. .. t.-. 1 r.i .t
i.c nac uiu uouor io remain, inm me e. i ' .
bigW.w.ir.yonrotedieot
v, mv ami
v - - -
No! no! no! Globe.
From the N. York Commercial Advertiser. Important correspondence. It affords us a high degree of satisfaction to insert the annexed correspondence between several distinguished merchants of this city, and the president of the Bank of the United States. The public will here perceive, as on all former occasions, the readiness of the Bank of the United States to sustain the merchants and the business of the country, to the full extent of its means. New York lOth July 1831. Sir At a meeting of many merchants and other interested in commerce, in this city, tho undersigned wero appointed a Committee to express to you, and to the Board of Directors of the United States Bank, over which you preside, the follovv-
views:
A large portion of the difficulties under
which the commercial community have labored, for some months past, has arisen from the restrictions deemed necessary on the part of the Bank of the United States in the differences existing between the Executive of the General Government and it -and so long as ihere seemed just ground for the continuance of such restrictions upon its issues and accommodations to the mercantile public; all the efforts of the New York commercial men were confined
t to endeavors to render them as little bur-
ing
(Signed) JAMES BROWN,
JOHN HAGGERTY, JAMES (i. KING, CIIAS. H. RUSSELL, GEO. GRISWOLD, TIIOS. TILESTON, J. W. LEAVITT, JON. GOODHUE, JOHN A.STEVENS. To N. Biddle Esq.
President of the U. S. Bank, Philad. Bank of the United States,) July 1 1th, 1S34. Gentlemen. I have had the honor to receive your letter of the 10th inst. which was immediately submitted to the Board of Directors, from whom it could not fail to receive the respectful consideration due to the signers of it. The general subject of which it treats, has, as you may naturally suppose, engaged the early and anxious attention of the Directors. For some months past, the principal object ef their measures has been to provide for the safety, and to maintain the credit ol the Bank, at all hazards. The restrictions upon its busincs, which they were under the necessity of imposing for this purpose, were as painful to the Board of Directors as to the community, and they confidently trusted that the national legislature, if it sanctioned the measures which rendered these restraints necessary, would haie provided other means of mitigating their inevitable pressure. But the adjournment of Congress without adopting any measures either of redress to the Bank or of relief to the community, places both the Bank and the country in a new relation to each other, and imposes upon the diminished ability of the Bank an extraordinary demand for its assistance. To that claim the Board of Directors cannot be insensible. They feel that the prosperity of the Bank is completelyidentified with that of the country, and they deem it not merely a duty, but a gratification, to interpose wherever the resources of the Bank can be safely employed in the relief and support of the
great interests ol the community. Accor-
ing the
notices of the doi
prepared and put to press in the nancr of
the same evening.
The design and peculiar character of this diurnal, and its particular claims to patronage, will be to give to the public nothing but matter of the freshest and highest interest to the inquirers for liberal and
puuucai intelligence: and omitt n the
tiresome details, useful for occasional reference, and sometimes of present acceptance to individuals, but for the most part w holly unattended to by the general reader. It seems to be an opiuion widely and strongly entertained, that a dailv paper, conducted upon this plan, s'o novel amongst us, but as highly approved of hero as successfully practised elsewhere, is called for by the growth of the population of this great country, and the consequent and rapid accumulation of matters of national interest, the views respecting which to be generally comprehended orlookci into at all, must be greatly and judiciously condensed. Ninety-nine hundredths .f
Vmericans arc engaged in the active nur-
-uits of life necssary for the support of themselves and families, and have not leisure to dig, out of great, masses of voluminous and dry detaiN, the spirit and substance of national concern?, important to be diffused among the people wh are, by interest and public duty, all politicians. 1 Economy of time, as well as of mor.cv is the order of the day with a people si busy and enterprising as ours, and wb. arc interested in so wide a ran-e of public concerns, of all which thev should know something, and in which'none but those who can devote their time exclusively to their study, can be proficient A national paper of this kinJ, therefore appears to be called for not les by theso peculiar circumstances and the immense! v extended and diversified affiirs of tin" country, than by the improved and advancing state of society, and the active intelligent, and inquisitive spirit uf the age. TI12 price is put at the low sumof SIX DOLLARS a year, under the belief that the patronage which will be attracted
to such a daily paper, edited on the prin-
densome as possible, and to endure them 'opted.
with the firmness and bv the sacrifices
called forth by evils deemed inevitable. All agree that the pressure has been one of the most severe, and the most extensive, ever known in our country and that it has been sustained in u manner to elevate the character and to make known the resources of our mercantile community. So long as Congress continued in session, it was not deemed hopeless to look for some decision upon the great questions of Finance, which were agitating our country from its center to its extremities, and that measures of relief would naturally have flowed from the definitive action of the National Legislature but disappointed in this expectation, we are of opinion that the time has now arrived when the United States Bank, in safety beyond all contengency, with resources abundant and increasing beyond all example, can and ought to come forward to
dinglv. on thc'Jah u t. when it was ncr. -T"-a wm'-niiave Deen so irenera'lv an !
ceive'd that Congress was about to adjourn j 50 srocs'y approved by the public, in tho without adopting any measures for the ! unpreccdented favor and support acTiircJ
jiusu unei a period by the weekly North, j American, will sufficiently reward our j undertaking. If our friends in the great. 1 cities lend us tho aid, which wo have rea
son to believe they will in extending our
relict ot the country, the Hoard appointed a committee to consider the new duties which that event might devolve upon the Bank, and their report was this day ad-
That report comtcmplates two objects :
the first is to put an immediate end to all the curtailments of the loans hitherto directed, a measure which was forthwith adopted the second regards tho future expansion of the loans of the Bank a subject, as you are aware, of far greater difficulty and delicacy. The long experience, and sagacity in business for which so many of you, gentlemen, are distin guished, will, 1 think, readily suggest to you that a general public declaration of a purpose to add to the loans of the Bank a sum from five to ten millions of dollars, might be productive of great disadvantage as well to the Bank as lo tho public, and that tho more prudent course of expansion, if any be necessary, would be to increase the loans cautiously and gently, at those points which mpst require relief. To s.uch a. policy the Board are well disposed and thoy will proceed to the
subscription list, and our consequent support for the daily sheet slall. be as lar
I as wc calculate, we will bo satisfied and ! -..rr .1.. :j -.l .t ..
suuicicuii miu mm wie very sran "V0fit to be madeat such, a p;ico, on the individual numbers of- a daily paper, on which nooxpenseof pains will be soared to enliven and enrich its columns with the best talents and the most interecjin materials at the command of the newspapers press. WILLIAM GREER.
30 BBLS. of cuperioc qua lily far sale by
S. & W. J. WISE. May 3, 1S34 15-tf
3
CLEIUrS DLAITCC. JI ST PRINTED AXD FOR SALE AT THIS OFFICE,