Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-05-22

ire, bankruptcy aud rum spread through
out the land, and n frightlul aud unmli-
gated future, opened to distressed Peo-
pie? Congress, at its last session, hav-
ing reconclled and tIanquliizcd the coun-,
try, by parental compromise, previous
to its adjournment, placCd So al upon the
public treasury. The ensuing Spring
opened with the iairest hopes, and never
did all the great interests of any country
exhibit more unmixed prosperity, than
those of the People Of the United States,
up to the adoption of that fatal measure,
which has scattered disaster and distress
throughout all the conditions Of an unof-
Tending society. And why: why was it
adopted? The opposition is charged
with producing or augmentlng the exist
ing discontents. Has not the opposition
sustained this Administration whenever
it conscentiously could? Whether wise
determined; but did not the opposition
como to the aid of this Administration, in
its greatest need, during the last session,
on the force bill, when many who had
previously been its supporters, deserted
it! Did the opposition advise or provohe e
the Removal Of the Depositcs? Must
they submit to an act, not only without
resistance, but with acquiescence and
appreciation, which they solemnly be-
lieve, in its tendency, and in the princi-
pies by which it is supported, threatens
to overthrow the Constitution, and to
subvert the Liberties of the People'
+, Why did the President resolve on that
unfortunate step? Can he not live in
quiet and repose, without perpetual ex-
citcment' Must he ever have SON e OBJ
ject of eager and ardent pursuit? All
his recent plunges seem to have been
made, | will not say for the wanton, but
unnecessary purpose Of trampling under
his feet, the Bank Of the United States
which had offended him and awak ened
his vengeance. Will the President new
er cease to regard himself as great po-
/ litical hunter, who, before he secures the
tail or skin Of one prize, which he has
won in the chase, must dash, with horse
and hound, into the depth ofthe forest, ,tc
start fresh game?
II w UD, WI. ICSluCHt, duFIStu anu w =
ed that most extraordinary measure?-
4 We are told that two thirds of the Pres
ident's Cabinet, were opposed to it. You
are charged with having counseIled it;
! but | will not believe it. | cannot allow
myself to think that one, of your expe-
rience and enlightened understanding
could have recommended proceeding
so repugnant to the Constitution and
Laws, and so detrimental to all the in
terests of the country. No, sir, it wa:
the work of deep, and dark, and ire.
sponsible cabal, composed ofindivduals
:, lean, lank, lantern jawed, hollow heart
ed, and with empty purses, who, to the
exclusion of his best and wisest friends
have surrounded and taken possession o
the person of the President, for their owr
sinister purposes, and to the hazard Of
his character and fame. And under
what promises was the decision made, &c
remove the public deposites!
i The public was assured that there
would be no interruption in the opera
tions of the general business OF the coun
try; that the whole affair was merely TAX
ing down one sign, and suspending ano
thcr; and it was distinctly promised, tha
the People should be supplied with
better general currency, than the bes
which any country ever before possessed
: We have the fufilmcnt ofthis promise il
an official letter, recently addressed b,
= the Secretary of the Treasury, to TIT
Chairman Of the Committee of Way
and Means of the House of Representa-
tives. In that letter it is proposed to sc
! lect a number Of local Banks, as the de
r postories of the public money, the selec
ton of which, the Committee recommen
shall be made by the Secretary himself
9 They are to give no bonus to the public
TO pay no interest for the deposites, an
TO use them, for the benefit OF themselve:
in the several places of their collection
without that participation in their advar
tage, on the part Of the West and the ir
terror, which they enjoyed under the ad
ministraton of the Bank Of the Unite
States. They are not even bound to re
ceiye and credit each others notes. In
stead of the better currency promised
the Secretary cuts the Gordian knot, b
declaring that this vast, wlde-sprea
a !, country, needs no general currency
!. lie thinks, it indeed, probable, that tn
local Banks may supply drafts and bill
for The purpose Of remittance. A NOR
bungllng, inefficient, unstate llls
scheme, was never brought forward b
any 6nancicr.
II Ard nau air hofora I Conclude.