Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1834-03-20

career Of his country; on the contrary, The /
undersigned is persuaded. that, as the sun
Of the Presidents eveutful life shall be set
ting. be will see his country in the full en-
joyment of all the liberty and happiness
which he has done SO much TO transmit
unimpaired to posterity.
VIII. 1t may, perhaps, be asked, wheth
er the power conferred by the United
States Bank charter, upon the Secretary
of the Treasury, is TO remain dead let
ter upon the statue 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 il will
appear that arbitrary principles are not
resorted TO, whatever may be The force oil
extraneous excitement-it will appear that
the power given was not exercised as a
substitute for the constitutional preroga
tives of the Legislature or Judiciary. In
the next place, it by no means follows
that because the undersigned is unwilling
to enter into an alliance with divers Banks
that have interests adverse TO each other,
and no common interests but to make all
, the money they can out of the treasure OF
the country, he is TO be perfectly passive
in all other respects II is the opinion oil
the undersigned that the public deposites
will not constitute such a fund AS 10 war
rant extensive operations on the part of
any Bank. Ii the revenue of the present
year shall meet the demands upon ii c
| Treasury. it does not seem TO he proba
BILE that the surplus will be considerable.
1t IS the present policy of the constituted
authorities to keep down the income to the
wants OF the Government The results
OF legislative proceedings, OF late adop
ted, cannot be very clearly anticipated
So that it will behoove the United States
TO regulate its operations accordingly
But, il will be the duty of the Bank, what
ever may be the amount of deposites TO
; reduce, gradually, the circle Of its bust.
ness, in order to avoid the pressure upon
the community, arising from a sudden
suspension-a pressure injurious to the
Bank as well as TO the public ard the
Government. And the. undersigned thinks
that the country, as the proprietor of one
fifth Of the capital, and upon general
principles also, has right to call on the
Bank SO gradually to abridge its business
If the Bank should not do, what any
prudent private banker, in the certain as
surance of an early death, or any incor
porated local bank destined to close il:
business, would do; then, it will be the
duty OF the undersigned to consider, in
what way he may SO exercise the power
vested TO him, as to cause a reduction O.
its business. The welfare of the country
the convenience Of the Government, anC
the interests of the Bank itself, demand
that all concerned should cooperate, as to
prevent any of those evils, which flow
from changes in the character or amour,
of circulating medium. Itmay, besides
be in the power of the undersigned, with.
out any risk of censure, to resort to means
that would be productive of benefit to all
concerned, or at least not preiudicial to
any
Whatever may be deemed best, should
be done cautiously, gradually, and with a
due regard to the rights and interests oil
the weak as well as the strong.
TX. The undersigned might proceed
in more extended discussion of the sub
ject under consideration, if, such were me-
cessary. He had tried TO shun the paths
already beaten by those whose opinions
The President has avaiIed himself Of He
has, indeed, consulted his own heart and
head as his arbiters. He has appealed 10
the aid of common sense, as well as OF
official intelligence, and will here close
his remarks. Nothing but profound con.
viction of being in the right, could have
induced the undersigned to take his first
step. In opposition to what is so obviously
the Presidents sincere desire. The un-
designed has too great respect for the
Judgment of the President. and too little
confidence in his own, Dramatically to
say, that the President is mistaken, and
that the undersigned cannot be so. Hap
PLY. if the proposed measure really is es-
sential to any great or,good end, it is not
in the power of any man, much less of
the undersigned, to set himself up success
fully against Chief Magistrate. to whom
the country owes so much. Far from
seeking such celebrity, the undersigned
is prepared to make any personal sacri
flee, except an acquiescence in a mea-
sure, that he positively believes TO be at
variance with his obligations TO the coun-
try. the President, and himself.
In any event, no change can be made
in those sentiments Of sincere respect and
attachment, which will ever be entertain
ed for the President, by his obedent SER
SAINT, w j DIANE
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AEHTNE CADnG