Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1832-10-12

| 80 THO. Nj. bONDURANT, Chmn.
Tho. ii. FLoop, Secretary.
The st. Louis Beacon contains a long and sen.
sble Address To the People of Missouri, from Gen.
sral w. ii. Ashley, who has been elected to Cnn.
yrcss rs a friend Of the Administration. Phe Gen.
eral says
| al have read, repeatedly and attontiv,,v. IN.
! Presidents Message, containing his objection. 10
the Banh Bill, and have weighed, CLOSELY and d;,
Passonately tho arguments of those distinguished
mon, whose opinions on this subject conflict with
my own. After all, l must be permitted to saw
with duo doicronce, that no change has been
wrought in my mind unfavourablc to the Bank. A
mongst tho objections urged against the
under it's present and proposed charter tho follow
ing seem tn have tho greatest weight with some or
my constituents, with whom have eonverscd. To
wn:-rhat danger is to be apprehsnded from do.
nestle we'll as foreign stockholders exercising
undue influence through the Bank;-that tho opera
tions Of tho institution calculated to oppres. tho
poor, whilst they benefit the rich;-that the States
respectively, have not the power to tax the branch
es ofthe Bank located within their linits:-and that
the institution has failed to answer tho purpose.
for which it established.-In reply 10 tbc..
objections, in justification of my course ia support
OF the Bank Bill, beg leave to remark that have
never observed any thing the part of the di
| rcctory ofthe Bank of the United Statcs, nor any
OF its branches, calculated in the least to eudanpcr
the liberties of the country, by interfering. or in
any manner directly or indirectly, meddlinC in O.
lsctions, indicating the least disposition to on
| pross those transacting business with the Bank
The assertion has bocn often IN ade without nroof
and it is firmly >'lievcd without any rood
ground for the charge. Such course would be an
unwise as it would DO unjust and impolitic
and should not DO anticipated, much loss charged
upon tho Bank without proof. Nor can geo any
probability OF tho danger which some seem to ap.
| prehend, from foreign influence over the institu
ton 1t appears to mo, that tho charter has guard
cd against any OWL of this nature, i'm the most am,
pie manner. Foreign stockholders have no nfu-
Il 0vR In sprftt
vote or controlling voice, directly or indirectly
in tho management of its affairs. They receive
their dividend, which seldom amounts to moro
than hvo per cent. per annam upon their capital
employed, tho only amount, in reference 10 their
interest in the Bank, they can control. The prin
cipni invested in stock cannot be touched I'M
til tho expiration of the charter. And, in the
event of War with Great Britain (as some have
urged? m place of the Stockholders of that ma
ton welding their influence through The Bank to
the prejudice OF tho United States, Congress might
at pleasure, coniscate their stock, and appIv the
money in support of the agains, Great Britain.
Neverthecss' TO obviatc this objection, which is
one OF the most popular Of all those raised against
the institutions, l should be willing to exclude TO-
reign stockholders from oil participation and will
veto accordingly, 1t the question be again present
ed whilst have tho honor to represent YOU
81 am clearly OF opinion that the General Go
vern'nent, and the trading and working classes Of
the community, arc much benefited by the
operations of the Bank than tho rich aud opvlent.
Tho latter are not generally the persons who Dor
row money from tho Bank: but having surplus ca
Pito, and not being disposed to attend to bushes,
themselves, they invest it in Bank stock, to be
used by the industrious and enterprsing who arc
able TO secure repayment, at moderate interest
Is 1t not obvious to one, that the large
borrowed from tho Bank must tend to keon dow n
the rate OF interest among private capalstsi Those
! who borrow from the Bank obtain the mean, Of
prosecuting their business at cheaper rate of in
terest, and are consequently enabled to secure and
retain to themselves and their country greater pro
hts and advantages than they would otherwise be
enabled to do. The great object is to give activity
to labor. and put money in circulation; when that
- done 1T matters not by whom, the profit, reacl
all classes of society, high and low. rich and poor
Il look upon the Bank as of greatly more conse
qnence to the West and Southwestern States than
to any others. In all of them, capital is the great
thing needed to give activity to labor and cnabI
them to develope their natural resources We Of
Missouri, above all, should cherish the Bank, for,
above all, our country abounds in every variety
| oil mineral wealth. which capital alone can mako
| active; and with young and entorprisinp popuIa
ton, in zinc midst OF fertile he althy country, need
nothing but capital, properly directed, to render
us, IN few years. powerful and prosperous"
we may applaud the tenor and spirit of the fol-
/ lowing passage:
| at well known to YOU before NV election -,
1881, that Gen. Jackson violently opposed to
the Bank of tho United States and that L was a.
decidedly in favor of the Institution. The Pres
dent now declines causing the law which provides
for the improvement of the navigation of tho Mis-
souri, and upper Mississippi rivers, to be carried in
TO effect. disagree, altogether, with the Presi-
dent I'm opinion on this subject; and, in my cha
racter of Representative of Missouri, promptly
declared my dsapProbation of the course he deter
mined TO take in relation thereto Ii those differ
ences OF opinion, honorably entertained, and OPEN
W freely, and fully expressed justify the charge,
that am no Jackson man, bs it SOL do not ac-
knowledge myself the man of tho President of the
United States, OF Senator Clay, any else.-
feel that represent the people of Missouri in
the Congross of the United States; and it
shall be my pride, well my duty, to
assert their rights and promote their views,
wishes and interest. and redress their WRONGS
to the utmost of my feeble abilities. To them I
hold myself accountnble;-their voice when fairly
expressed shall be attended to and strictly obeyed;
hut recognise the right Of no man, or set of men
to dictate to me in my official course. Whenever
the measures Of tho Administration ION which il
may become my duty to actl accord with my ideas
of right and Justice, they will receive my hearty
support; and on the contrary, when disapprove
them, shall not hesitate to condemn and oppose
them never have given, and hope never may
give, blind and indscriminate support to any adj
ministraion. cannot think the people of Mis-
souri, would wish me- their representative, to
pin my faith to any mans sleeve, and adopt his
opinions, right wrong, without consideration;
but on the contrary, that they expect to pursue
a straightforward, consistent and independent
course, with tho best Judgment and information
am master of, or can obtan-a course I shall en-
deavour steadily TO pursue"
-
FOREIGN.