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

money which the Government should set
apart for the payment Of that debt The
agent made an arrangement on terms, IN
mart. which were in direct violation Of the
charter of the Bank, and when some Incl
dents. connected with this secret negotla
ton. accidentally came TO the knowledge
Of the public and the Government, then,
| and not before, SO much Of il as was pal
pably in violation Of the charter was dis
avowedl A modification Of the rest was
attempted with the view Of getting the
certificates without payment OF the money,
and thus absolving the Government from
its liability Of the holders. 10 this scheme
the Bank was partially successful, but to
this day the certificates Of portion OF
these stocks have not been paid. and the
Bank retains the use Of the money.
This effort to thwart the Government 10
the payment Of the public debt, that II
might retain the public money TO be used
| for their private interests. pallisted by pre-.
fences VIGOROUSLY unfounded & insincere,
would have justified the instant withdrawal
| Of the publ: deposiies. The negotiation
itself rendered doubtful the ability Of the
Bank TO meet the demands Of the Urea
sury, and the misrepresentation by which
il was attempted TO be justified. proved
that no reliance could be placed upon its
allegations.
II question OF removal OF the depo
sites presented itself TO the Executive in
the same attitude that il appeared before
the House Of Representatives at their hast
session, their resolution in relation to the
safety of the dsposites would be entitled
o more weight, although the decisi N Of
the question OF removal has been mild, d
| by law TO another department Of the Cow
eminent But the question now occurs,
| attended by other circums tances and new
| disclosures Of the most serious import. II
is true that in the message Of the Presi
dent, which produced this inquiry and re-
solution on the part Of the House OF Re-
representatives., it was his object TO obtain
| the "a OF that body in making thorough
| examination into the conduct and condi.
ton Of the Bank and its branches in order
| 10 enable the Executive Department TO
decide whether the public money was
longer safe in its hands. The limited
power of the Secretary Of the Treasury
over the subject, disabled him from max
ing the invesligs ton as fully and salisfac
iorily a. il could be done by committee
Of the House of Representatives, and
hence the President desired the assistance
Of Congress TO obtain for the Treasury
| Department a full knowledge OF all the
facts which were necessary TO guide his
judgment. But it was not his purpose, as
The language Of his message will show, to
ask the Representatives of the p' oplc 10
assume a responsibility which did no, be
long TO them, and relieve the Executive
branch Of the Government. from the duty
which the law had imposed upon 1t 1t is
due TO the President that bis object in
that proceeding should he distinctly IN
derstood, ami that he should acquIt bim
self of all suspicion Of seeking to escape
| fr m the performance OF his own duties,
Of desiring TO inicrpnse another body
between himself and the people, in order
20 avoid a measure which he is called up
on to meet. But although. as an act OF
Justice to himself he disclaims any de.
sign of soliciting the opinion Of the House
of Representatives 10 relation To his own
duties, in order TO shelter himself from re-
sponsihllty under the Sanction of their
counsel. yet he is at all times ready to lis
ten 10 the suggestions of the Representa-
tives of the people. whether given volun
tarily or upou solicitations; and to consid
er them with the profound respect to
which all will admit that they are justly
| entitled. Whatever may be the conse
qnences, however, TO himself, he must Fl
nally form his own Judgment where the
constitution and the law makes it his du Y
to decide, and must act acc or iinglN; and
he is bound 10 suppose that such a course
on his part will never be regarded by thai
| Elevated body AS mark Of dlsrespect Ia
itself but that they will. on the contrary
esteem it the strongest evidence be can
give of his fixed resolution conscientionsIy
TO discharge his duty to them aud the
country.
A new state Of things has, howe yer
arisen since the close of the last session OF
Congress. and evidence has since been
laid before the President, which he is per
suaded would have led the House Of Re
| presentatives TO a different conclusion, II
| II had come 10 their knowledge / he fact
that the Bank controls. and in some cases
substantially O,c"s. and by its money sup
ports. some OF the leading presses Of ID,
country, is now more clearly established
Editors 10 whom it loaned extravagant
sums in 1881 and 1882, on unusual time
and nominal security. have since turned
out 10 he lnsolvent, and TO others, appa
rently IN no better condition. accommoda
tons still more extrsvagsnt. on terms
It'll more unusual, and sometimes without
any security, have also been heedlessl,
granted.
The allegation which has so often cir
cnlated through these channels that the
Treasury was bankrupt and the Bank was
sustaining 1t. when for many years there
has not been less. on an average, than six
millions of public money in that institu
non, might be passed over as harmless
misrepresentation; but when il is arten NJ
ed. Ivy substantial acts, to impair the ere
dit of the Government and t4rnish the no
nor Of the country. such charges require
more serious attention. With six millions