Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-01-20

wealtiI-a question least eXploreu anu 'iio iio"'
;mnortant of any in the whole range OF pohtl.
cal economy, the banking institution mas Ii los
the greatest among the greatest influence ana
faar most pernicious influence on the mode OF
dstribution. Were the question really before
ne I would not shun the responsibility, as great
&C # might be, of freely and fully offering my
Sentiments on these deeply important points;
but as it is, must content myseH with the le"
remarks which have thrown our.
What then. is the real question which now
aotates the country? | answer, IL Is Struggle
between the Executive and Legislative depart
n,ents of the Governments struggle, not IN re-
Iation to the existence OF the bank, Dut WHICH,
Congress or the President, should nave the pow
or Of creating banks and the consequent control
over the currency OF the country. ms IS the
real question Let us not deceive ourselves
this lea oue--this association OF bankS--created
by the Executive; bound together by It's lnflu-
ence: united in common articles OF association;
vivfied and sustained by receiving the depo-
sites of the public money, and having their notes
converted by being received every where by
the Treasury into the common currency OF the
country, is, to al intcnts and purposes, bank
of the United StateS--the Executive bank ofthe
United States, as distinguished from that OF Con-
gress However it might fail to perform, salts
factorily the useful functions Ofthe Bank OF the
United States as Incorporated by law, 1t would
outstrp it-far outStrp it---in all its dangerous
qualities in extending the power, the influence,
and the corruption of the Government. 1t was
impossible to conceive any institution more al
mirably calculated to advance these oDJects-
Not only the selected banks, but the whole DanK-
ING institutions of the country, and with the en-
tire money power, for the purpose of specula-
ton. peculation, and corruption, would be plac-
ed under the control ofthe Executive. sys-
tenn of menaces aid promises Will be estapliSh-
ed--of menace to the banks in possession OF me
deposites but which might not be entirely SUD-
servient to executive views; and OF promise OF
future favOrs to those who may not asyel eHJoy
its favor. Between the two the banks would De
left without influence, honor, or honesty; ana d
system of speculation and stock-Jobblng Wouid
commence unequalled in the annals OF our
country I fear they have already commenced;
fear the means which have been put into the
hands of the minions Ofpowcr by the femoVai OF
the deposites, and placing them IN IN vaults VI
dependent banks, have extended their cuplaity
to the public lands, particularly in the southwest;
and that 10 this we must attribute the recent phe-
nomena in that quarter! immense and valuable
tracts of land sold at short notice. sales ffaudu-
Ientlv postponed to aid the spectators. WIN
which. if am not misinformed, a name not I'M
known to this body (Gwin) has performed pro-
minent part But leave this to my ylglant ana
able friend from Mississippi, (Mr; foilldeAteil
at the head of the Committee on PuDllc LdnoS,
who doubt not, will see justice done TO the pup
lie AS to stock-jobbing, this new arrangement
will omen a field which ROthschild himself may
envy. 1t has been found hard work---very hard,
no doubt by the jobbers in stock, who have
been engaged in attempts to raise or depress the
nrice of United States Bank stock; but no work
will be more easy than to raise or depresS the
price ofthe stock of the selected banks, at the
pleasure of the Executive. Nothing more Will
be required than to give or withhold deposltes;
to draw or abstain from drawing warrants; TO
pamper them at one time, and starve them at
another. Those who would be in the secret,
and who would know when to buy and "hen 10
selI wonld have the means ofreazing by deal
inGin the stocks, whatever fortune they might
please.
FRO BE CONCLUDED IN OUR NEXT.