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

Some OF the items for which accounts
have been rendered shew the eonsldera
ton which has been given TO the resolutions
and the way 10 which the power it con
fers has been exerted. The money has
not been expended merely in the publ'ca
ton and distribution Of speeches, reports
Of committees, or articles written for the
purpose OF showing the consiitutionaliIy
or usefulness of the Bank But publica
tons have been prepared and extensively
circulated, containing the grossest invec
tives against the officers Of the Govern
ment: and the money which belongs 10
the stockholders and the public has been
freely applied in efforts to degrade, IN
public estimation, those who were cup
posed to be instrumental in resisting the
wishes Of this grasping and dangerous
institution. As The President Of the Bank
has not been required TO settle his &C
counts, no one but himself yet knows how
much more than the sum already men
toned may have been sqrandered. and
for which credit may hereafter be claim
ed in his account under this most extra
ordinary resolution. With these facts he
lore US, can we be surprised al 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 otatesi Can we be surprised al
sudden and unexpected changes OF opin
ion in favor Of an institution which has
millions TO lavish, and avows its deter
minatlon not TO spare its means when they
are necessary to accomplish its purposes?
The refusal to render an account OF the
manner in which part Of the money II
pended has been applied, gives just caus .
for the suspicion that il has been used for
purposes which it is not deemed prudent
to expose to the eyes Of an Intelligent and
virtu1us people. Those who act justly do
not shun the light. nor do they refuse ex
plantations when the propriety of their con-
duct is brought into question.
With these facts before him. in an Of
fetal report from the Government Direct
ors, the President would feel that he was
not only responsible for all the abuses and
corrup,ions the Bank has committed. or
may commit, but almost an accompl,ce in
conspiracy against that Government
which he has sworn honestly TO admins
ter, if he did not take every step within
his constitutional and legal power likely to
be efficient in putting an end to these e
normities. If it be possible, within the
scope Of HUMAN affairs, TO find a reason
for removing the Government deposites
and leaving the Bank to its own resom &C
for the means Of effecting its criminal de
signs, we have it here. Was it expected
when the moneys Of the United States
were directed 10 be pl,ced in that Bank,
that they would be put under the control
Of one man. empowered to spend millions
without rendering a voucher or SPECIFY in <
the objact' Can they he considered safe
With tho evidence before US, that tens OF
thousands have been spent for highly i'm
proper, II not corrupt purposes. and tba,
the same motive may lead to the expends
ture OF hundreds Of thousands. and even
millions more? And can we justify our.
selves TO the people by longer lending To
it the money and power Of the G verD
ment, to be employed for such pu' poses?
II has been alleged by some as AN oh
jection to the removal Of the deposites,
that the Bank has the power. and IN that
event will have the disposition. to destroy
the State Banks employed by the Govern
utCttf 'iotiCso upOu CUM
| try. Ii has been the fortune of the Presi
dent TO encounter dangers which were re
presented as equally alarming, and he
has seen them vanish before Tesoluio
and energy. Pictures equally appalling
were paraded before him when thus Bank
came TO demand new charter. But
what was the result? Has the country
been ruined, or even distressed? Was i,
ever more prosperous than since that sct1
The President verify believes the Bank
has not the power to produce its calami
ties its friends threaten. The funds Of the
Government will not be annihilated by he
ing transferred, They will immediately
be issued for the benefit Of the trade, and
if the Bank Of the United States curtail.
its loans, the State Banks strengthened
by the public deposites. will extend theirs.
What comes in through one Bank. will gu
out through others. and the equilibrium
will be preserved Should the Bank, for
the mere purpose of producing distress
press its debtors more heavily than some
Of them can bear, the consequence viii
recoil upon itself, and in the attempts I,
embarrass the country, it will only brin.
loss and ruin upon the holders of ITS owl
stock. But if the President believed tn.
Bank possessed all the power which has
been attributed TO it, his determination
would he rendered the more mflexible. -
If. indeed. this corporation now hollis il
its hands the happiness and prosperity OF
the American people, it is high time to
take the alarm. II the despotism be al
ready upon US. and our only safety is in
the mercy of the despot, recent develop
ments in relation 20 its designs and the
means he employs, show how necessary
it is TO shake II oil. The struggle can ne
yer come with less distress to the people
or under more favorable auspices than al
the present moment
All doubt as to the willingness Of the
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