Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1834-01-30


, means of warfare, is the destruction O
r the political standing of those, who ar,
Opposed to the renewal of the charter
The sum actually charged to the expen
ses, under this resolution, is sufficient,
startling. How much more may hav,
been already squandered, we are yet t.
learn, and the work of ''preparing ano
circulating" such publications is still, It il
presumed, going on under the last resolu
ton of the board. 1t is moreover impos
Islble TO ascertain the specific purposes tc
which the money may in fact have beer
Ia Plied, since vouchers are not REQUIRED
70 show the particular services or which
was given. With these positive proofs
Of the efforts Of the bank to obtain power
and to Influence the measures of the go
| Vernment, have not nesitated as to the
path OF duty. If, when this evidence was
before me, had failed to withdraw the
dePosltes of public money from the bank
1t would have been lending the counte-
nance and support of this department to
measures which are too well calculated to
destroy the purity of our institutions, aud
endanger thereby the liberties of the peo-
pie, 1t cannot be supposed that these ex
penditures are justi6able on the ground
that the bank has right to defend itself.
and that the money in question was there
tore properly expended. Some of the
items accounted r, sufficiently show in
what manner il Was endeavoripg to defend
its Interests. 1t had entered the field of
political warfare, ard as IA political part-
san, was endeavoring to defeat the cleo
'ioh OF those who were opposed to its
views. 1t was striving by means of its
money to control the course of the 60
Ivernment, by driving from power those
VINO we're obnoxious to It's resentment,-
Can it be permitted TO great monied
corporation to enter on such "A controyer-
Sy, and then justify its conduct on the
ground that it is defending its own inter
es's! The right of such an institution to
interfere III the political concerns of the
country for any cause whatever, can never
be recognized; and defence like this.
on the part of the bank, could not be toll
Grated even it the individual stockholders
alone were thus using their own money to
promote their own interests. But it is
not only the money of individuals. which
is thus applied. The one fifth of the cap
ilal of the bank. amounting to seven mil
lions of dollars, belongs to the u. States,
and the onc-fiith OF the money which has
been expended, and is yet to he expend
ed, under This resolution, is the property
of the public and does not belong to pr
vate individuals. Yet the board Of direc,
tors assert the right, not only to author
lze the expenditure of the money of ind
vdual stockholders, in order to promote
their individual interests; but have also,
by the resolution in question, taken upon
themselves to give the like authority over
money which belongs TO the U. States.
Is an institution which deals thus with
the money of the people, a proper deposi-
tory for the public funds? When such a
right is openly claimed and acted upon by
the hoard of directors, can the money OF
the United States be deemed safe in its
hands, The same principle that would
sanction the application of one portion Of
the public money to such purposes, would
Justify the like use of all that may come
TO its possession. The board of directors
have no lawful authority to employ the
money of the United States for su,h OBJ
jects. So far as the nation is concerned
in the character Of the bank, the people,
through their own representatives In Con
gress, can take care Of their own rights,
and vindicate the character of the bank.
if they think it is unjustly assailed. And
they do not need the aid of persons en-
pIoyed and paid by the bank, to learn
whether ITS charter be constitutional OF
not, nor whether the public good requires
it to be renewed. Nor have they author
lied the president and directors Of that
institution, to expend the public money
to enlighten them on this subject.
The resolution in question is, moreover
in direct violation of the act Of Congress
by which this corporation was established
And it is difficult to imagine how the un
limited and irresponsible power over the
money Of the bank, which the director;
have given to their president, can be re
conciled to the clause in the charter which
requires seven directors t. form boart
for the transaction Of business. IL the ex
penditure of money, for the purposes con
, templated by the resolution, be legiti
|, mate part of the business of the corpora
. ton, the board could no: lawfully trapsfe
, it to one of its officers, unless they can b,