Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-04-03

ment! Whether it is wise to make such
experiments, the undersigned, with con-
fdence, respectfully submits.
He submits, with confidence, because
he knows the purity Of the Presiden ent's
purposes, and that he will not press for a
me asure, to say the least of it, of doubt
ful and portentous character. He is not
at all surprised that excitement should
exist; it is almost unavoidable on the
part Of those who are pure themselves,
and who sincerely Lelieve that they see
impurity in others; its existence is even
honorable to those, who, to avert a ca
tastrophe really apprehended, are con-
tent to incur some risk on their own part.
No one can imagine that the President
can have had, or can now have, any 9TH
er than the purest intentions; his appre-
tensions are sincere, not Fictitious but
still the apprehensiops that are entertain. .
ed, warrant those measures only, which
will bear the cool examination Of the iu-
ture historian, rather than the test of
conte mporary feeling. 1t is of such mea-
sures as are now proposed, that history
will be the record. 1t will be to the
adoption or rejection Of them that public
men, in after times, will look for exam
pies. 1t is all important, therefore, that
the most exalted ground should be taken,
when about to direct movements that
will be compared with the past, that will
affect the present, and be an enduring
guide in future.
The President indeed, seems to think,
that he is but obeying the will Of the peo-
pie; he believes that his veto message
became the deciding, as well as divid-
ing points at elections, Bat the under
signed is unable to concur with him,
that his election was tAe result of con-
test on that point. In many parts Of the
Union, the Bank question formed no
part Of The materials of dispute (; in 9TH
ers, many friends Of the Bank voted for
the President; and every where, thou
sands voted for the same reasons that
had induced them to call him from his
farm-they knew his services to be g!o-
rious, and his patriotism greater still.
But, if it is true, that, when the Pres
ident said he left the question to the peo-
pie, they really took it up, then the un-
dersi gned respectfully asks, whether it
was ever supposed that the Secretary of
the Treasury was to be the champion :?
Was it not rather the design Of the Pre-
sident that the people should send to
Congress agents who would be true to
their trusts' Surely this is the constitu-
tional and the patriotic course, and if it
shall not answer, then the undersigned
thinks that the days of the Republic are
counted. But he does not so think, nei-
ther will the President so think, if he
shall reflect upon the career of his coun-
try; on the contrary, the undersigned is
persuaded, that, as the sun of the Pres-
dents eventful life shall be setting, he
will see his country in the full enjoyment
of all the liberty and happiness which he
has done so much to transmit unimpalred
to posterity.
VIII. 1t may perhaps be asked whe-
ther, the power conferred by the United
States Bank chatter, upon the Secretary
of the Treasury, is to remain dead let
ter upon the statute book? In the first
place, it may be replied, that if it should
SO remain, it may be honorable to the
country as well as beneficial; for it will
appear that arbitrary principles are not
resOrted to, whatever may be the force
Of eXtraneous excitement-h will appear,
that the power given was not exercised
as substitute for the constitutional pre-
negatives Of the Legislature or judiciary.
La the next place, it by no means fol-
lows, that because the undersigned is
unwilling to enter into an alliance with
divers banks, that have interests adverse
to each other, and no common interest
but to make all the money they can out
Of the Treasury Of the country, he is to
be perfectly passive, in all other respe cts.
1t is the opinion of the undersigned, that
the public deposites will not constitute
such fund, as to warrant extensive ope-
rations on the part of any bank. If the
revenue of the present year, shall meet
the demand upon the treasury, it does
not seem to be probable, that the surplus
will be considerable. 1t is the presen,
policy Of the constituted authorities tc
keep down the income to the wants OF
the government. The results oflegisla.
tive proceedings of late adopted, canno
be very clearly anticipated. So that il
will behoove the United States to regu.
late its operations accordingly. But il
will be the duty of the Bank, whatever
may be the amount of deposites, to re.
duce gradually the circle of its business
in order to avoid the pressure upon the
community, arising from sudden sus
Penslon-a pressure injurious TO the
Bank, as well as to the public and the
Government. And the undersign
thinks that the country as the proprietor