Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1834-01-30

States, and the people OF the United
States, during the thirty seven years that
they had acquicsced in or recognized the
utility Of Bank, were all wrong. And.
opposing his single opinion TO their united
judgments, he dismisses the Bank. scat
ters the public money, and undertakes TO
regulate and purify the public morals, the
public press, and popular elections!
IL we examine the operations OF this
modern Turgot, in their financial bearing
merely, we shall find still less Cor appro-
baton.
/. lie wi,hdraws the public moneys,
where, BY bis own deliberate admission,
they were perfectly safe, with bank Of
thirty five millions Of capital. and ten mil
hons Of specie, and he places them, at
great hazard, with banks Of comparatively
small capital and but little specie of which
the Metropolis Bank is an example.
q He Withdrew them from Bank cre-
ated by.'and over which the Federal Go
yernment had ample control. and puts
them in other Banks, created by different
Governments, and over which 1t has no
control.
8. lie wiihdraws them from a Bank in
which The American people, as a stock
holder, were drawing their fair proportion
0. interest accruing on loans, Of which
those deposies formed the basis, and puts
them where the People Of the United
States draw no interest
l. From Bank which has paid DO
nus Of million and half, which the peo
pie of the United States may be now liza
bic 10 refund, and puts them in Banks
which have paid to the American people
no bonus.
s. Depreciates the value Of the Stock in
Bank, where the General Government
holds seven millions. and advances that OF
hanks in whose stock il does not hold a
dollar, and whose aggregate capital does
not probably much exceed that very seven
miIions. And, finally,
g. He dismisses Bank whose, paper
eirculates. in the greatest credit, through
out tae Union and in foreign countries.
aud engages in the public service Banks
whose paper has but limited and local
circulation in their immediate vicinities.'
These are immediate and Inevitable re-
suits. How much that large and long
standing item Of unavailable funds. annu
ally reported to Congress, will be swclled
and extended, remains to be developed by
time.
And now. Mr.. President, what, under
ell these circumstances, is il our duty 10
do? Is there a Senator who can hesitate
10 affirm, in the language Of the resolu
lions, that the President has assumed a
dangerous power over the Treasury of the
United States not granted TO him by the
Constitution and the Laws; and that the
reasons assigned for the act, by the Secre-
tary Of the Treasury, are insufficient and
unsatisfactory?
The eyes and the hopes Of the American
people are anxiously turned to Congress
They feel that they have been deceived
and insulted; and their liberties in danger.
They see rapid and alarming concentra
Ton Of all power in one mans hands -
They see that. by the exercise Of the posi-.
tive authority Of the Executive, and his
negative power exerted over Congress, the
Will Of one man alone prevails. and 60
serns the Republic. The question is no
longer what laws will Congress. pass, but
what will the Executive not veto? The
President and not Congress, is addressed
Gr Legislative action. We have seen a
Corporation, charged with the execution
Of great National work, dismiss an ex
perienced, faithful, and jealous President,
afterwards to testify TO his ability by vo-
lmtary resolution, and reward his extra
ordinary services by large gra,uity, and
appoint IN his place an Executive iavorte,
totally inexperienced and incompetent, to
propitiate the President We behold the
usual incidents of approaching tyranny
The land is filled with spies and informers
and detraction and denunciation are the
orders of the day. People. especially of
Er.aI han -,
dare speak in The fearless tones Of manly
freemen, but in the cautious whispers Of
trembling slaves. The premonitory symp
toms of Despotism are upon us; and if
Congress do not apply an instantaneous
and effective remedy, the fatal collapse
will soon come on, and we shall Cie-ig
Hobly die base. mean, ahject slaves-the
scorn and contempt Of mankind unpitied
uOwept, unmournedi
The conclusion Of the Speech was fol
lowed by repeated and loud applause in
the Galleries, as it had been interrupted
before.
IN SENATE.
MONDAY, JASuARy 20, 1884.
Mr. WEBSTER presented to the Senate series
OF Resolutions, adopted at Numerous meeting OF
the citizens OF Boston, without distinction of par
ty, held at Fencuil Hail. TO consider the state Of
the Currency and Finance of the country.
The resolutions having been read
MIR. WEBSTER said, he shed TO bear
quiyocal and decided testimony to the respecta-
bility, intelligence, and disinterestedness, of the
long list of gentlemen, at whose instance this
meeting was assembled. The meeting, said Mr..
w. was connected with no party purposes whate-
yer. 1t had an object more sober, more cogent
more interesting to the whole community, than
mere party question. The Senate will perceive,
in the tone of those resolutions, no intention to
exaggerate or indame; no disposition 10 get up
excitement or to spread alarm. ! hope the re-
strained and serious manner, the moderation Of
temper, and the exemplary candor, of these re-
solutions, in connexion with the plain truths
which they contain, will give them just weight
with the Senate. assure you, sir, the members,
composing this meeting, were neither capitalists,
nor spectators, nor alarmists They are mer-