Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-03-29


rer was not entirely under the direction
of the Governor, in the disposition ofthe
school money.
When Governor Arnold and the Ma
tional Republican Senate came into Off
zee, the condition of the Treasury claim
ed their earliest attention; it had, in fact,
been called to it by the positive declara-
iions OF a respectable opponent, that they
would have to resort To u direct tax to
support the govornment---by one who
knew such tax would have been una
voidable, if the Jackson Senate had re-
mained in office, because there was no
more school money which could be cx-
pended.
have alluded with respect to the
"Landholder," to distinguish his pam
phlet from Other vile and scandalous
ones, that were issued to support the
cause Of Governor Fenner; written, as is
believed, by demagogue, still engaged
in his support, and writing under new
name in the Herald. The deception
practiccd upon the freemen by other pam
phlets, under the influence of which the
Jackson Senate succeeded, in which the
writer's claimed for that Senate an almost
exclusive regard to the interests of the
State, particularly for its internal reve-
nue. and public schools, has been COM
pletely exposed by the Treasurer's nc.
counts, exhibiting the effects produced
upon both, by their election and continu-
ance in Office for the short space of twO|
years. 1t is the circumsta ance that these|
few facts in relation to the official con-
duct of Gov. Fenner have become pub
lie, which has tended to exasperate him
and his partizans against Governor Ar
mold and the National Republican Sc
nate.
will now speak of some of the meas
ures adopted by the present State Admin
istration, to reinstate the treasury, in or !
der to repay the amount unlawlully di-
vested and expended from the school
fund by their predecessors, that the peo !
pie may be able to Judge whether they
are judibious, and whether those meas7
ures have also any effect upon the fecl1
ings of individuals aud leaders of parties
opposed to their re-election.-The result
of their measures have been published in
the Treasurer's report at the last Octo1
Der Session; their effects since may bd
seen by the books of the treasury-both
Of which show the flourishing condition
of the finances, and that three times aa
much money has been invested in ten
months of this year for the support of Pub
lie Schools, as was invested in any whole
year while the Jackson Governor and
\ Senate were in office.
Il The prominent measures adopted bT
the present State administrator for the
purposes ofrevenue, were simple improved
ments in the conditions of their grants ol
lotteries and Bank charters, and per-
centage on the further increase of Bank
capital in the State. Conditions thai
imposed no hardship, since it was at the|
option CT those TO be efft cted by them
to accept Of them or not, as they pleased
The success Of those measures and their
beneficial effects, haye been seen and
felt, and acknowledged by candid men
of all parties. But obviously just and
necessary as they were, it is known they
are the principal cause for, and have oc
casoned the opposition now manifested d
who passed them; and will alone &C cconn|
for the sudden and otherwise unaccoun7
table turn given to that party by its lea7
ders, in uniting or cooperating with the
Jackson party, in its endeavors to defeui
the election.
n The law in relation to Banks was pei
culiarly obnoxious to MIR. VIM. Spragud
and his family; they being, or having
been large stockholders in those Banks
that were obtained before this law was
passed, which Banks were allowed to in1
crease their capital stock to a very largo
amount; in all ofthem, nearly million Of
dollars. 1t was known to the General
Assembly that it was the practice with
some, if not all these Banks, to sell thd
stock at about 10 per cent. premium OF
profit, to people who wished to invest
small sums of money. To mechanics
widows, orphans, and others, whose uni
obtrusive habits and scanty means subj
iected them to such exactions from thd
more wealthy and influential men Wild
obtained these charters from the Assent
bly,, and whose influence had always del
fcated the efforts of those who were id
! favor of allowing general subscription
to the stock by all classes The law ]
am considering, provided that TWO AM
A HALF per cent. ior about one fourth thd
profit should be paid into the State Treas
ury on such sales and increase of capi1
} tal. This law was opposed BY Mr|
Sprague's two sons in the Assembly; but
: the only argument used against its pas
sage by either of them, as l am told
was, that it would make great many