South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1834-12-13

ulouL eHIlIcly lEUIn oil lHSLiLuLiOu SO his
chievoust to the public prosperity, and so
regardless of the constitution and laws.
By transferring the public deposites, by
appointing other pension agents, as far
as it had the power, by ordering the dis
continuance Of the receipt of bank checks
N payment of the public dues after the
Grst day of January next, the executive
has exerted all its lawful authority to Sc
yer the connexion between the govern
nent and this faithless corporation.
The high-handed career ofths institu-
don imposes upon the constitutional func-
tlonaries of this Government, duties of
hegravest and most imperative charac
ter-dutles which they cannot avoid, and
from which, trust, there will be no in
clination on the part ofany one Of them
to shrink. My own sense of them is most
clear, as isalso my readiness to discharge
those which may rightfully fall on me.
To continue any business relations with
the Bank of the United States that may
be avoided, without violation of the
national faith, after that institution has
set at open defiance the conceded right
D.
after it has done all in its power to de-
ride the public authority in other respects,
and to bring it into disrepute at home
and abroad after it has attempted to
defeat the clearly expressed will Of the
people, by turning against them the i'm
mense power intrusted TO its haads, and
by involving country otherwise peace
full, flourshing, and happy, in dissension,
embarrassment, q would make
the nation itself party to the degreda-
ton so seduously prepared for its public
agents-and do much to destroy the con-
fdence Of mankind in popular govern
ments, and to bring into contempt their
authority and efficiency. In guarding a.
gainst an. evil of such magnitude, consd-
erations of temporary convenience should
be thrown out of the question. and we
should be influenced by such motives on
~ as look to the honor and preservation
ofthe republican system. Deeply and
solemnly impressed with the justice of
these views, I feel it to be my duty to
recommend to you, that law be passed
authorizing the sale ofthe public stock |;
that the provision of the charter requir-
ing the receipt of notes ofthe Bank in
payment of public dues, shall, in accord
ance with the power reserved to Con-
gress, IN the 14th section Of the charter,
be suspended until the Bank pays to the
Treasury the dividends withheld; and
that all laws connecting the Government
or its officers with the Bank, directly or
indirectly, be repealed; and that the in
stltution be left hereafter to it's own re-
sources and means.
Events have satisfied my mind, and I
think the minds Of the American people,
that the mischiefs and dangers which
flow from National Bank far overbal-
anee all its advantages. The bold effort
the present Bank has made to control the
Government, the distresses it has wan
tonly produced, the violence of which it
has been the occasion in one of our cities
famed for its observance of law and or
der, are but premonitions of the fate
which awaits the American people should
{ they be deluded into a perpetuation of
this institution, or the establishment of
another like it. 1t is fervently hoped,
that, thus admonished, those who have
heretofore favored the establishment Of a
substitute for the present Bank, will be
induced to abandon it, as it is evidently
better to incur any Inconvenience that
may be reasonably expected. than to
concentrate the whole moneyed power of
the Republic in any form whatsoever, or
under any restrictions.
Happily it is already illustrated that
the agency Of such an institution is not
necessary to the fiscal operations of the
government. The State Banks are found
fully adequate to the performance of all
services which were required ofthe Bank
ofthe United States, quite as promptly,
and with the same cheapness. They
have maintained themselves, g. discharg-
ed all these duties, while the Bank of the
United States was still powerful, and ia
the field as an open enemy; and it is not
possible to conceive that they will find
greater difficulties in their operations,
when that institution shall cease to exist.
The attention of Congress is earnestly
invited to the regulation of the deposites
in the State Banks, by law. Although
the power now exercised by the Executive
Department in this behalf, is only such
as was uniformly exerted through every
administration from the origin of the
Government up to the establishment of
the present Bank, yet, it is one which is
susceptible Of regulation by law, and,
therefore, ought SO to be regulated. The
power of Congress to direct in what pla-
ces the Treasurer shall keep the moneys
in the Treasury. and to impose regula-,
tions upon the Executive authority. in
relation TO their custody and removal. is
unlimited, and its exercise will rather be
courted than discouraged by those public
officers and agents on whom rests the re-
sponsiblity for their safety. 1t is desira-
BILE that as little power as possible should
be left to the President or Secretary of
the Treasury over those Institutions
which. being thus freed from Executive