Delaware State journal, advertiser and star. [volume] (Wilmington, Del.) 1832-1833, 1833-09-27

resisting the wis es of this grapsing and dan
gerous institution. As the President of the
Bank has not been required to settle his aC-
counts, no one but himself yet knows how
much more than the sum already mentioned
may have been squandercd, and for which
credit may hereafter be claimed in his &C
count, under this most extraordinary resolu-
ton. With these facts before US, can we be-
surprised at the torrent of abuse necessarily
poured out against all who are supposed to
stand in the way Of the cupidity or ambition
of the Bank of the U. States' Can we be
surprised at the sudden and unexpected chan
GEES If opinion in favour of an institution which
has millions to lavish, and avows its determi-
nation not spare its means when they are ne
cessary to accomplish its purposes! The re-
fisal to render an account of the manner in
which part of the money expended has been
applied, gives just cause for the suspicion that
it has been used for purposes which it is
not deemed prudent to expose to the eyes of
an intelligent and virtuous people. Those
who act justly do not shun the light, nor do
they refuse explanations when the proprety
of their conduct is brought into question.
With these facts before him, in an official
report from the Government directors, the
President ould feel that he was not only res.
ponsible tor all the abuses and corruptons.
the Bank has committed, or may commit but
almost an accomplish in C ,nspiracy against
that Government which he has sworn honest
| ly to administer, if he did not take every step
within his constitutional and legal power like
| ly to be efficient in putting an end to these
enormitics. If it be possible, within the
scope of human affairs, to find reason for
removing the Government depositcs. and
leaving Ii,e Daik 70 ito = .,,U
means of effectng its criminal designs, we
have 1t here. Was it expected when the mo-
neys of the United States were directed to be
placed in that Bank, that they would be I'M
| der the control OF one man, empowered to
spend millions without rendering a voucher,
or specifying the object? Can they be consid-
cred safe, with the evidence before us, that
tens of thousands have been spent for highly
improper, if not corrupt purposes, and that
the same:motive may lead to the expenditure
of hundreds of thousands, and even millions
moi e? And can we justify ourselves to the
people by longer lending to it the money and
power of the Government, to be employed for
such purposes:
1t has been alleged by some, as an objec-
ton to the removal of the depostes, that the
Bank has the power, and in that event will
have the disposition, to destroy the State
Banks employed by the Government, and
bring distress upon the country. 1t has been
the fortune of the President to encounter dan
gers which were represented as equally alar-
ming, and he has seen them vanish before
resolution and energy. Pictures equally APP
paling were paradeL before him when this
Bank came to demand new charter. But
what was the result Has the country been
ruined, or even distressed? Was itever more
prosperous than since that act! The Presi-
dent verify believes the Bank has not the
power to produce the calamities its friends
threatened. The funds of the Government
will not.be annihilated by being transferred.
They will Immediately be issued for the ben
eft of trade, and if the Bank of the United
States curtails its loans, the State Banks,
strengthened by the public deposites, will
extend theirs. What comes in through one
Bank, will so out through others, and the e.
qulllbrium will be preserved. Should the
Bank, for the mere purpose of producing dis
tress, press its debtors more heavily than some
of them can bear, the consequences will re-
coil upon itself, and in the attempts to en-
barrass the country, it will only bring loss
and ruin upon the holders of its own stock.
But if the President believed the Bank DOS
sessed all the power which has been attribu-
led to it, his determination would only be
rendered the more inhexible. If, indeed,
this corporation now holds in its hands the
happiness and prosperity of the American
people, it is high time to take the ALARM
the despotism be already upon us, and our
~
cent developments in relation to his designs
and the means heiemploys, show how neces-
sary it is to shake it off The struggle Can
never come with less distress to the people,
or under more favorable auspices than at the
present moment.
:, All doubt as TO the willingness of the State
Banks to undertake the service of the Gov
eminent, to the same extent, and on the same
terms, as It is now performed by the Bank of
the United States, is put to rest BY the report
OF the agent recently employed to collect in
formation and from that Willingness, their
own safety in the operation may be confident
~ inferred. Knowing their own resources
better than they can be known by others, it
, Is not to be supposed that they would be will
ling to place themselves in IA situation Will h
, they cannot occupy without danger of ami
hilation or embarrassment: The only con-
slderation applies to the safety of the public
funds, it deposited in those institutions And
when it is seen that the directors of many of
: them aie not only'willing to pledge the char
S actcr and capital OF the corporations in giving
, success to this measure, but also their own
. property and reputation, we cannot doubt
that they, at least, believe the public depos-
ties would be safe in their management. The
President thinks that these facts and crcum=
stances afford as strong guarantee as can be
mad IN human affairs, for the safety of the
c punhc funds, and the practicabiliiy of new
J system OF collection and disbursement through
: the agency of tina State Banks.
+ From all these considerations the Pre-
> sident thinks that the State Banks ought
immediately to be employed in the coll
, lection and disbursements of the public
! revenue. and the funds now in the Bank
OF the United States drawn out with all