Alabama state intelligencer., 1831-05-04

nl0ke t0dnS to Me FedeTdt uO0eTHment' That IS nothing; for the Federal Government will want no loans in time of peace, not even out of its own de-
 postes and the prospect of war IS rather distant at present, to make new loans on that account. 4.
 {" To gau the Pensioners That is something now admt when the pensioners are still 15,000, and the
 payment exceeds million per annum. But what
 will it be after 1o36? Whenthe hand of death, and
 the sythe of time. shall have committed five years
 more of ravages in their jenal ranks. The mass
 of these heroical monuments are the men of the re-
 voluion. They are far advanced upon that allegor-
 cal bridge so beautifully described m the vision of
 Mirza. They have passed the seventy arches which are sound and eDtire and now Ieading upon the
 broken ones, where the bridge Is full Of holes, and
 tIe clouds and daikness setting in. At every step
 some one stumbles and falls through, and is lost in
 the ocean beneath. In few steps more the last
 will be gone Surely it cannot benecessary to keep up for twenty yeats the vast establishment Of tEe
 federal bank to pay tle brief stipelds of these fleet ing shadows. Their country can co it-can pay the pensions as well give them -ani do it for tie lit tie time that remains, with no oihg regret tan that tie grateful task is to cease sool. D. "1O regn-
 iafe he CurrcnCy'" answer; the pint resolution of 1 1Sl6 will do that, and will effe't the regulation without destroying on one hand and without raising np new power above regulation m tle other. Be-
 sides, there is mistake in this phrase currency
 He word in the constitution is coin It is the value
 of coin which congress is 10 reguat; and to include
 bank notes under that term is toassrme power,
 not of construction-for constr uition can be wild
 and bonndess enough 10 cOnstrue c,ln, at Is to say,
 metallic money melted cast and starped-into al CT
 notes printed and written; but il s t assume power
 o lie aud death tie constitution power to de-
 hone and murder one of its true and lawful words,
 and to set up bastard pretender in its place. in
 yoke tie spirit of America upon the Caring attempt 0. " To equaiize e1ch0nges 0nd sell bNs of erehaage tor the haT ct enc per cent" This is brokers argu
 ment; very fit and proper to determine question of brokerage but very insufficient to determine ques tion of great national policy, of State rights, of stutonal difficulty, of grevoUs taxation, and of pub
 lie and private subng alton. to the beck and nod of great moneyed oligarchy. 7. "A bonus Gf million and q haB cf doltars" TLis MT PREsiDENT,i Fsau's view of the subject; very seductive view to an n- proyident young man, who is willing to give up ,he remainder of his life to chains and poverty provided Le can be soaced for the present with momentary and insignificant gratfcati0n. But what is it 10 tie United States Ito the United States of lc3G without shilling of debt and mainly occupied with the reduction of taxes Still this bnRs is the only consideration that new be offered and surely it is the last one tl.at ought to be accepted. We do not want the money and, fl we did, the recourse to bonus would be the most execrable form in which we could raise 1t. What is bonrs? Why, in mo- nachies, it is price paid to the King for the privi
 ege oi extortng money out of his subjects; with us,
 it Is price paid 10 ourselves for the privilege of torting money out of ourselves. He of it the worse; for it all has to be paid back to the extortion eis, with great interest upon it It is related by the English historian, Clarendon, who cannot be sus- pected o ovestating any fact to the prejudice of the Stuart Kings, for q ,5UO andvanced to Charles the irs in bonus's no less than f2U00DO were extorted from his bjects being at the ra,e of f133 talk en from the subjects for t advanced to the King. What the Bank of the United States will have made out of the people of the United States in twenty years in return for its JOnRs of l 800 coo (which must repeat has been advanced to us, out of our own money,) has been shown to be about six ty-six millions of dollars. What il would make in the next twenty years when secure possession of the renewed charter should free the Institution from eve- ry restraint, and leave at full liberty pursue the money goods and lands of the people in every d- rectlOn, cannot be ascertaned. Enough can be as certalned, however, to show that it must be inde-
 initely beyond what it has been. There are some data upon which some lat,ial aud imperfect calcua lions can be made, and let us essay them. In the
 first place. the rise of the stock which cannot be less than that of the Bank of England, it's 0ourishing days. (probabIy more, all Europe is now seeking
 investments hefe,) may reach 250 ger cent. or l50 above par. This, upon a capital Df 35 millions, would give profit of sS42 500 ,000; pretty to be cleared by operation of law Ito b added to the
 fortune of some individuals aliens aswell as citizens by the mere passage of an act of Congress-! In the next place, the regular dividends assuming them to equal those of tie Bank of England its meredan, would be ten per cent. per annun This would give $3500 ,U0U for the annual dividnd; and S70,- O00,O for the aggregate of twenty years In the third place. the direct expenses of the Institution now
 less than Sp4000 per annum would, inder the new and magnificent expansion which tb, operations of the Bank would take, probably exceedhalfa million per annuln say $1O,GO0,0U0 for the vhole term.- Putting these three items together, which is as far as the ddta in hand will enable us t0caculate and we have $122, ,5O0O00 of profits male out of tie people, equal to d tax of $6000,00O fer annum.- How much more may follow. is wholly unascertaina- be, and would depend upon the moderation, tie
 justice the clemency, tie mercy and iorbearance, of the Supreme Central Directory, who sitting on their tripods, and shaking ter tridenis the mo- ned are able 10 raise and iepress the golden waves at pleasure; who being chief purchasers of real estate. may take in tow ms and cities, and the whole country round at one fell swoop; who, being sole lenders of money, may take usury, not only at 46, but at 460 per cent who. being masters of all
 other banks. and of the Federal Government itself may compel these tributary establis ments to ransom their servile existt with the heavy and repeated exactions of Algerine cupidty.-The gains of such institution defy calculation. There is DO exam pie on earth to which to compare it. Tie Bank of England, in it's ptoudest days. would afford hut an inadequate and imperfect example for tie power of that Bank was counterpoised and its exactons
 limited by the wealth of the landed aristocracy, and the prncely revenues of great merchants and pri- vate bankers. But wiih us there would be no coun- terpois, no limit no boundary to the extent of the exactions. Allwould depend upon the will of the Su- preme Central Directory. The nearest approach to the value of this terrific stock. which my reading has suggested would be found in the history Of the fla nous South Sea Company of the last century, whose shares rose in leaps from 100 to 500 and from 5C0 to 1000 per cent but with tlis unreasonable and lamentatle difference. that that BUBBLE Mts q REALITY And who would be the owners of this imperial stock Widows, and orphans think you as ostentatousy set forth in the relot of last sion No, Sir, a few great capitalists aliens, de-
 nizens, naturalized subjects; and some native cilI