Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1833-12-09

preparing to bring it to close, il the charter W,
not to be renewed. Thus, with but little mo,.
than four years to run. with doubtful chance, n
renewal, and aware Of the necessity Of brsinuin,
10 arrange its vast transactions, it Increases IL
loans in sixteen months more than tweu,y.,,S,
millions of dollars. Was this imprudence oni,,
1t cannot be believed that those who manap.t
its concerns could have committed such an over
SIGHT. Can any proper reason be assigned 70,
this departure from the course which the inter
ests of monied corporation, as well as tina, Of
the country. obviously required? | am not aware
that any sufficient justification has been offered
And thi, extraordinary increase Of its loans, mad.
in 30 short space OF time, at such period Of II,
charter, and upon the eve Of a severely CONTESTED
election of President, 10 which The Bank ,ook =,
open and direct interest demonstrates that II Va,
using It's money for the purpose OF obtaining
hold upon the people Of this country, in order IA
operate upon their fears, and to induce them, BY
IN. apprehension of ruin, to vote against the can
d,Ia,e whom il desired to defeat Ia o,hs,
words. this great monied corporation determined
to enter the political arena, and to influence II.
measures Of the Government, by causing il,
weight to be felt in the election Of It's officer,
Bur If the circumstances above stated wei,
not. Of themselves, sufficient to prove that IL,
Bank had sought, by its money. to obtain pO,,
cal power, and to exercise Nv that means con-
trolling influence on the measures OF the Govern.
ment, Developments have furnished such proof
as TO leave no room for doubt. | have the hUQot
10 transmit herewith an off, ial statement mark
ed b. signed by four OF the public dlrecior
in the Bank, shOui ing at the same time The w.
lawful manner which It's business is cCnductt!
and unwarrantable purposes to which lis monet
has been and still Is applied. Ii will be seen b
the proceedings therein stated, that the whOt
| capital of the Bank is in effect placed at the d,
posit,on of the President of the lNstltuiion. H.
i, authorized to expend what he peases in ca,
ing "to be prepared and circulated such doc.
ments and papers as may communicate 10 the Pee
pie information in regard TO the nature and o.
erations Of the Bank" And he may therefor,
under the very Indefinite terms Of the re'OIl.
tons. employ as many persons as he PIease: 4:
such salaries as he thiHks proper, either 10 pre-
pare daily paragraphs for newspapers IN aSorG
the Bank, or to write pamphlets and ESSAYS to
influence the public judgment. Aud he @i!
even provide for the publications, bS salais'to
printers or by purchasing presses and type and
plaeing item in the hands Of agents employed
and paid BY the Bank.
There is no ll,nliation, short Of the capital d
the Bank, as to the sum OF money he may muse
pend u different parts Of the United State
From the description Of articles which appear
have been paid for under this resolution tseeH'
that the President Of the institution has suppose
that publications containing attacks upon officer
of the Government who are supposed to stand
the ay of the renewal Of the charter. is one oil W
modes of communicating 10 the PeoP lie niora'
ton in regard to the nature and operations oil IN
Bank" This construction was, It appears ~
proved BY the Board, as they continued The "
thority in his hands, unchanged, after the mao
ner in which portion Of the money had been y
piled was laid before them. And we are Ie'
conclude, that this institution is now openly
the field as political partisan, and that one
its means Of warfare, IS the destruction Of w
political standing Of those, who are opposed
the renewal Of the charter. The sum actual!
charged to the expenses, under this resolution |
is sufficiently startling How much more o'!
have been already sqandered, we are YET
learn. and the work Of preparing and cIteui
ting such publications is still, II IS presume
going on under the last resolution OF the bO'fe |
1t is moreover impossible to ascertain the spte'n
purposes tn which the money may IN lac! ",'
been applied. since vouchers are rot 'e4u"eO
show the particular services tor which II wa'ss's1
ITO be concluded in our nerf.