Alabama state intelligencer., 1831-04-20

twenty years. This was me relgn of the Bank i For twenty years itwas dominant partyin England,
 and during that disastrous period, the public debt
 was increased about f400,000 900 sterling, equal,
 nearly to two thousand millions of dollars and that
 by paper loans from bank, which, according to it's
 own declaration, had not shilling to lend at the l commencement of the period. l omit the rest. l
 say nothing ofthe general subiugation of the country
 banks, the rise in the price of food the decline in
 wages, the increase of crimes and taxes the multi pcaton of lords and beggars, and the frightfu de-
 moralization of society. omit all this. only seize
 the prominent figure in the picture, hat ofa gorer-
 ment ARRESTED in the midst of WAR and DANGER by he VETO cf MoNIED CORPORATION; and only per
 mted to go on upon condition of assuming the odi- um of stopping specie payments and sustaining the promlssoy notes of insolvent bank, as the law
 ful currency ofthe land. This single figure sulices,
 to fix the character of the time; for when the Co.,
 vernment becomes the "serUant of the lender" the I people themselves become it's slaves. Cannot the Bank o the United States, if re-chartered, act in
 the sane way2 It certainly can, and just certain ly will when time and opportunity shall serve and
 interest shall prompt It is to purpose that gen
 tlemel may come forward, and vaunt of the charac-
 ter of the United States Bank, and proclaim it too just and mercifu to opprcss the State. must be
 permitted to repudiate both the pledge and the praise The security is insufficient; and the encomum be- long to Constantinople. There were enough such
 in the British Parliament the year before, nay the
 day before the Bank stopped; yet their pledges and praises neither prevented the stoppage, made
 gool the damage that ensued. There were gentle men in our Congress to pledge themselves in 1910
 fer the then expiring bank, of which. the one now
 existing is second edition; and if their securtyshp
 had been accepted, and the old bank re.chartered,
 we would have seen this Government greeted with a
 note about Aug 18l4about the time the British burning this Capital--of the same tenor with the
 one received by the younger Pitt, in the year '95
 for it is incontestable that that Bank was owned by
 men who would have glored in arresting the govern
 ment and the war itself for want of money. Hap py the wisdom and patriotism of Jefferson, under
 the Providence of d,prevented that nfamy and
 in by preventing the renewal of the old bank chrter. | II. object to the continuance of this bank be-
 cause its endcncis pernicous to the government
 and the people.
 | What are the tendencies of great monied power,
 connected with the government and controlling its
 fiscal operations? Are they not dangerous to every
 interest, public and private? Political well pe-
 cuniary say they are; and briefly enumerate the heads of each mischief.
 l. Such bank tends to subjugate the government
 as have already shown in the history of what hap pened to the British minister in the year '95
 | 2. It tends to collisions between the Government
 and the Bank in the terms of the loans, has been
 fully experienced in England in these frauds lpon
 the people ,and insults upon their understanding call
 ed three per cent oans in which the government, flor
 about G50 borrowed, became liable to pay G 1O0'
 3. It tends to create public debt by facilitating public loans, and substituting unlimited supplies of
 paper, for limited supplies of coin. The British debt is born of the Bank of England. That bank was
 chartered in 1894, and was nothing nor less in } the commencement than an act of Parliament for
 the incorporation of company of subscribers to a government loan. The loan was q ,200,0 the interest fS0, ,000 and the expenses of managem e4,000. And this is the birth and origin the germ ) and nucleus, of that debt, which is now f900000,- 000, Qhe unfunded items included,) which bears
 an interest of 99O,000,000 and costs f26O, ,0tO for annual management [ To te continuei. Il 11r Calhoun and .WuLifcation. The tone
 assumed by South Carolina, in relation to the
 right of a single State, to dissolve the Union,
 is beginning to draw down upon its authors
 almost universal execration. The Van Bu- ren portion of the Jackson party, through their organ, the "Giobe," handle it with just
 severety-and make it one of the strongest points in their assaults upon MT Calhoun :; t while the partizans of the Vice President, in- Il dignantly deny that he has participated in the r efforts which have been made to inhame } the public mind in that State, and to mislead : il into the adoption of this novel and danger GUS heresy. The Washington Telegraph, l which may be regarded as speaking MT Cal
 koun's sentiments, although it says it has ssno :, authority to speak on this subject" (we pre- , sume it means sheciai authority asserts en- platically, that ssMr Calhoun has never writ ttn or uttered word favoring disunion ''- : And again, it says, sAs to Notification, que are authorized to say, because we hape fre- qaently heard him declare, that MT Cal hOun's opinions conform to those of the Re- publican party of 98, as expressed in the Vir-
 gniai Resolutions, drawn by MT Madison D Stc. This is well enough, as far as it goes.- ) But fl stops at the very point where the pub lie will want information, before they can l make up their minds to support MT Calhoun t for fhe Presidency, as many of the opponents ; of this administration may and probably will do, ) if it can be demonstrated that he has had no connection with this second edition of the Hartford Convention. The Nullifyers them selves profess to find their justification in MT
 Madison n's resolutions but that venerable sage
 declares that they were never designed to , give countenance to their monstrous doctrine : Will MT Calhoun or his mouth piece, (the l Telegraph inform the people, which com struction of those resolutions he adopts-Mr I Madison's own interpretation of them, or that
 of Messrs Hamilton and Hayne, And still farther, 7uhen did Mir Calhoun renounce his z once openly avowed, ably defended, and dear
 ly cherished latitudinarian doctrines Is he
 not even now in favor of re-chartering the U-
 nited States Bank-the advocate of a Bank ruptLaw-and the supporter of Internal Im-
 provement by the general government Or is it only in relation to the Tariff system that I he is beset with constitutional scruples? And
 how long, after his celebrated speeches in fa-
 vor of this very system, was it, that he began
 to see that it was not only yunequal and oppres-
 slve in its operations, but that it was founded
 ma direct violation of the federal constitution! We confess that we should be extremely glad to see the fact of adisconnection between MT
 Calhoun and the Nullifyers proved!--I would
 revive the lingering and almost extinct par