Martinsburg gazette and public advertiser. [volume] (Martinsburg, Va. [W. Va.]) 1826-1833, 1833-10-03

NffN-N 49, hfttANG vi ttlG pdlk 4.
ing for n recharter at that session OF
Congress, was to make it leading
question in the election of President
of the United States the ensuing No.
vember, and all steps deemed necessa.
~, were taken to procure from tho
people a reversal of the President
decision.
Although the charter was approach
ing its termination. and the Bank was
aware that it was the intention Of the
Government to use the public deposite
as fast as it accrued in the payment OF
the public debt, yet did it extend its
loans from jan, 1891, TO May, 1892,
from $40, 402, 304 "a, TO SO, s,O70.
~, being an increase of SIS, 1925, 766-
4s, IN sixteen months. Ii is confident.
ly believed, that the leading object OF
this immense extension Gifts loans, was
TO bring as large a portion of the peo-
pie as possible under its power and in
fluence; and it has been disclosed, that
some of the largest sums were granted
on very unusual terms to conductors
of the public press. In some of these
cases, the motive was made manifest
by the nominal or insufficient security
taken for the loans, by the large a.
mounts discounted, by the extraordina-
ry time allowed for payment, and es-
pecially by the subsequent conduct of
those receiving the accommodations
Having taken these preliminary
steps to obtain control over public o.
pinion, the Bank came into Congress
and asked new charter. The object
avowed by many of the advocates of
the Bank, was to put The President 10
The test, that the country might know
his final determination relative to the
Bank prior to the ensuing election. -
Many documents and articles were
printed and circulated at the expense
of the Bank, to bring the people to
favorable decision upon its pretcnsions.
Those whom the Bank appears to have
made its debtors for the special occa-
sion, were warned of the ruin which
dN"itSu thCiiis Suouiu tHc L IISluGHt Uc
sustained, and attempts were made to
alarm the whole people by painting the
depression in the price of property and
produce, and the general loss, inconve.
nience and distress, which il was re-
presented would Immediately follow
the reelection of the President in OPP
position to the Bank.
Can it now be said that the question
of "a recharter of the Bank was not de-
cided at the election which ensuedl--
Had the veto been equivocal, or had it
not covered the whole ground-if it
had merely taken exceptions to the de-
tails of the Bill, or to the time Of its
passage-ifit had not met the whole
ground Of constitutionalty and expedi.
ency, then there might have been some
plausibility for the allegation that the
question was not decided by the peo-
Pile. 1t was TO compel the President
10 take his stand, that the question was
brought forward at that particular
time. He met the challenge, willingly
took the position into which his adver-
saries sought TO force him, and frankly
declared his unalterabIe opposition to
the Bank, as being both unconstitu-
tional and inexpedient. On that ground
the case was argued to the people, and
now that the people have sustained the
President Notwithstanding the array Of
influence and power which was brought
to bear upon him, it is too late, he con-
fidently thinks, to say that the ques-
ton has not been decided. Whatever
may be the opinions Of others, the Pre-
sident considers his reelection as de-
cision of the people against the Bank.
In the concluding paragraph of his Ve-
to Message he said:--
81 have now done my duty TO my
country, If sustained by my fellow
citizens, shall be grateful and happy;
if not, shall find in the motives which
impel me, ample grounds for content
ment and peace"
He was sustained by Just people,
and he desires to evince his gratitude
by carrying into effect their decision,
so far as it depends upon him.
Of the substitutes for the present
Bank which have been suggested, none
seems to have united any considerable
portion of the public in its favor
Most of them are liable to the same
constitutional objections for which the
present Bank has been condemned, and
perhaps to all there are strong objec-
tons on the score of expediency. In
Kidding the country Of an irresponsible
power which has attempted TO control
the Government, care must be taken
not to unite the same power with the
Executive branch. To give Presl-
dent the control over the currency and
the power over individuals now pos
e,,e,,,-,d h., .ha Pank of the United States