Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-05-31
EXTRACTS FROM MIR. ADAMS
REPORT ON THE u. S. BANK.

REPORT ON THE u. S. BANK.
SuDsIDIz,Na THE PREss-RiGuTs Oh
EDIToRs.
The subscriber believed that there was
great want Of precision in the definitions
by the Chairman of the Committee in
his original motion, OF the crimes which
he denounced. Take for example, the
charge of subsidisimg The Press. If a,
violation Of law be an essential ingre-
dient in the composition Of crime, there
was no law which prohibited the Bank
from subsidizing the Press-nor was
there any law prohibited the President
and Directors Of the Bank from afford
ing facilities and accommodations to
editors of newspapers. On the other
hand there is, perhaps, no class of citi-
zens in the community who, by the ma
ture of their profession, may more fre-
quently need the aid Of bank facilities,
or to whom they may be more signally
useful, and in proportion to the extern
siveness Of printing establishment, will
of course be the amount Of the accom-
modatons which they may require
Why then should The Bank bo laid un-
der an interdict for subsidizing the
PrcssI Why should the President and
Directors of the Bank be chargeablc
with gross and palpable corruption, be-
cause large accommodations and facili-
ties, in the regular course Of banking
operations have been afforded to Editors
Of newspapers? There appears 60 the
subscriber to be included in the principle
Of this charge a very dangerous assault
upon the freedom of the Press. A prin-
cplc proscriptive in its nature, and the
application Of which, if once assumed
by the authority of the Legislature, could
be successful only in reducing the Press
to servile subserviency ta whatever par
ty might command momentary majori-
ty in the two Houses of Congress. The
Editors of newspapers are not responsible
to Congress for the political principles
which they may advocate or oppose
, Nor can the Legislature take cognizanc,
either Of their consistency or of thei
political purity. They are responsible
for their opinons TO their subscribers ant
to the public opinion of their country
To hold them to this responsibility, thei
rivals, and competitors, and political ad
versaries, are sufficiently watch(ul ant
sufficiently armed. The opinions ant
interests Of majorties in Congress will
never lack for Presses to sustain them
selves. But if in addition to that com
mon interest of the majority and of thei
favorte Presses in the competition 10
public favor, they are to assume cen
serial power to punish or to stigmatize tn
Editors who support the opinions or in
terests Of the minority, in what does thI
differ from an imprin,atnr in the hands Q
the governing pOwer-an engine tor tn
:. suppression Of all freedom of the Press
l. as we'll as for the oppression Of ever.
Editor, whom it may suit the purposes G
l. tho predominant party to discredit
destroy.
: The majority of the committee did, tt
: subscriber doubts not, with pure inten
tions, otherwise decide and the account
T. of editors Of newspapers with the Ban
y were called for. In reviewing this de
cision, and the proceedings of the CON
mittee subsequent upon it, he deems
his duty to declare, that none Of his oh
jections to it have, in his judgment, bee
= removed. He views it as a precedeI
Of portentous evil; as an unjustifiable en-
croachmcnt Of arbitrary authority upo
the freedom of the press; as an odiot
persecution Of individual citizens,
PROSTATE the influence Of personal {
political adversaIies, by the hand I
Il power.
r CASE OF M. M. Moan AND J. w. WEE
or this class Of accounts thus produ'
ID ed, those of one newspaper establsl
ment only underwent the investigation
= the Committee. Those of James Wa
son Webb and Mordecai nj. Noa
=, Editors of the New York Courier al
id Enquirer, one Of the most distinguish
le and extensively circulated journals Of Il
Union.
From these il appeared that in Angus
- 1891 JAS. W.Webb obtained at the Bal
Of the United States, loan Of TWEEN
ed thousand dollars upon his own note, c
IS dorscd by Mordecai nj. Noah. T
il, application for this loan, made in pers
by Mr.. Webb, was sustained by a Il
= ter from Mr.. Noah, and sundry stat
mcnts relating TO the pecuniary conditi
od and credit Of the New York Cour
and Enquirer. The letter from NJ
Noah was inclosed to the President
- the Bank by Walter Bovine, Mayor
the City Of New York, who had be
r,s one Of the earliest Directors of {
Bank, with recommendation Of the q
plication itself, to be considered as
business transaction. II was so cons
: cred by the Board Of Directors who 4
ceded to the loan desired. But the e
N tors of the Courier and Enquirer h