Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1833-12-12
APPENDIX. [.


APPENDIX No l.
From the Globe of Sept. 90, 1888.
1--WE are authorized TO state that the
deposites Of the public money will be
changed, from the Bank Of the United
States TO the State Banks, as soon as ne
cessary arrangements can be made for
that purpose, and that it is believed they
can be completed in Baltimore, Philadel-
phia, New York, and Boston, in time 10
make the change by the first of October,
and perhaps sooner, IL circumstances
should render an earlier action necessary
on the part Of the Government.
1t is contemplated, not to remove at
once The whole of,he public money now on
deposite in the Bank Of the United States,
but 10 suffer it TO remain there until il
shall be gradually Withdrawn by the usual
operations of the Government. And this
plan is adopted to prevent any necessity,
on the part Of the Bank of the United
States, for pressing upon the commercial
community; and to enable il to afford, il it
think proper. the usual facilities to the mer-
chants. l, is believed, that by this means
the change need not produce any inconve-
that circumstances will not require a sud
den and heavy call on the Bank of the
United States so as to occasion embar-
rassment to the insi' tuition or the public. I"
No Q.
The Secretary Of the Treasury to the President
Of tho United States.
TREAsuRy DEPARTMENT,
Sept. 2lst, 1888.
SrR-I have the honor to lay before you
l. A copy of my commission, empowering and
enjoining me to execute my duty according to
law, aud authorisng me TO hold my Office at
your pleasure.
2. A copy of my oath of office, wherein solemn
" pledged myself to execute the trust confided
TO me with fidelity.
3. A copy Of the 10th section of the law charter
ing the Bank Of the United States, whereby
the discretion to discontinue the deposites of the
public money in that bank, were committed to
the secretary Of the treasury alone.
4. An extract from your letter TO me Of the 2Gth
of June, wherein you promise not to interfere
with the independent exercise Of the discre-
ton committed TO me (by the above mention
ed) law over the subject.
s. An extract from your exposition of the 18th
instant, wherein You state that you did not *
pect me, at your request, order or dictation,
TO do any act which may believe to be illegal,
or which my conscience may condemn.
When you delivered to me, on the 18th inst.
l asked you whether was to rcgaad it direc-
ton, by you to me, TO remove the deposites you
replied that il was your direction TO me to
move the deposites, but upon your responsibility,
aud you had the goodness TO add, that, if would
stand by you, it would be the >happiest day of
your life.
Soemnly impressed with profound sense Of
my obligations TO my country and myself, after
painful reflection, and upon my own impressions,
unaided by any advice such as expected. Ire
cir Int rofn 90
carry your directions into effect.
l. Not because desire to Illustrate your wishes,
for it would be my pleasure TO promote them,
if could do so consistently with superior obi
cations.
2. Not because desire to favour the Bank of the
United States, to which have ever been, am,
and ever shall be opposed.
5. Not to crafty any views, passions, or feelings
Of my own-but
4. Because consider the proposed change, Of the
depository, in the absence Of all necessity, a
breach Of the public faith.
s. Because the measure, if not in reality, appears
to be vindictive and arbitrary, not conserva alive
or Just.
6. Because if the bauk has abused or perverted
its powers, the judiciary able and willing
TO punish, and in the last resort the represen-
tatiyes of the people may do so.
7. Because the last House of Representatives of
the United States, pronounced the public mo-
ney in the Bank of the United States safe
s. Because, if under new circumstances, change
of depository ought to be made, the represen-
tatives Of the people chosen since your veto
message, will in a few weeks assemble, and
be willing and able to do their duty.
9. Because a change to local and irresponsible
banks will tend TO shake public confidence, and
promote doubt and mischief in the operations
of society.
TO- Because il is not sound policy in the Union to
foster local banks, which, in their multiplied
tion and cupidity, derange, depreciate, and
Danish the only currency known to the consti-
tuition, that Of gold and silver.
IL. Because il is not prudent to conhde, in the
crude way proposed by your agent, in local
banks, when on an average of all the banks de-
pendent in great degree upon each other, one
dollar in silver cannot be paid for six dollars of
paper in circulation.
~. Because il is dangerous to place, in the hands
Of a secretary Of the treasury, dependant for
office ON executive will, a power to favor or
punish local banks, and consequently make
them political machinery.
10. Because the whole proceeding must tend 10
diminish the confidence eff the world in our re-
gard for national credit and reputation, mas
much as, whatever may be the abuses Of the
directors Of the bank of the U. S. the evil now
to be endured must be borne by innocent per-
sons, many Of whom, abroad, had right to
confide in the law that authorised them TO be
holders Of stock.
Because believe that the efforts made in va
rious quarters TO hasten the removal of the de-
Posltes, did not originate with patriots or
as|rsnen, but in schemes TO promote selfish
ana iactious purposes.
10. Because IT has been attempted bv persons and
presses known to be in the confidence and pay