The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1834-02-19

waged. No less true than beautiful hss a
been said thst associated wealth is the dy
nasty of m odern States" Here we have i
illustrated by an instance which, while It de-
moDstrGtes its truth, startles the mind by tbs
terrors with which it is clothed. To behold
ss we now do, gigantic monled corporation
extonded by its branches over every portion
of our Union embracing in it's operation;
al classes OF society, and exercising, or hav
ing the power to exercise, over ali inferior
associations--as we'll as over the hu ndredi
of thousands of individuals connected witt
il, control which may at almost any mo
ment work their destruction, is a power
which at all times requires the vigilance o.
our rulers and the jealousy of the people
What then should be our conduct, when, u
nited in an unholy alliance with such an as
sociation, VIC behold tho disafected Of al
parties. Men, whose political views ant
principles are as opposite and as far asundeI
as the poles, acting in concert and with the
aid of splendid talents and requirements
striving ell that in them lies to establish the
throne of their golden idol, even upon tho
PROSTATE rights Of great nation. The
question as it appears to us is a simple one.
Either the President is right, or the Bank
should be re charte red. To save time we
may prove the former by showing the mex
pedency of the latter. We have always
been at loss to understand what claims the
Bank possesses to entitle it to be re.charter-
ed. To say nothing of the unconstitutional
ity Of establishing such an institution, which
many of the purest patriots our country has
produced have maintained--let US come at
once to those Of different character. 1t is
urged on the side of the Bank that such an
institution 10 at the present day indispensa.
be to the efficient transactions Of CONNER
cial affairs. 1t may be true, but we say it is
not proved that such is the fact. Yet taking
it for granted that such is the case, there
may be evila erising from its existence which
will far outweigh the benefits. II, for ex-
ample, it can bo shown, as we think it has
been--that such an ipstitution has lost sight
Of the original object for which it was crea-
ted, and interfered in matters wholly, beyond
ito sphere, if, instead of confuiug its views
within its chartered limits to it's proper busi-
ness Of exchanging dollars and cents it med.
dies with votes and voters--if, instead of ex-
ercsing its mammoth power to benefit its
creators, it exerts it like tho viper to citing
its benefactors--if, instead of proving faith
ful to its trusts aad honorable in its dealings,
it has been proved faithless and shuflng--
if, instead of being satisfied with it's appro-
pirate concerns, it strives to usurp the reins
of political government and subvert the liber.
ties of o paton--then we say, the evils far
overbalaDce tho advantages; and the sooner
such On institution IS destroyed, the happier
will it be for the people. The great object
Of the advocates of the Bank in Congress
has been to represent the Pre- sident as ty-
rant and an usurper, as one wishing by the
course ho has pursued in relation to the
Bank, to unite the sword Gnd the purse in
his own hands, and thereby destroy the lib.
critics of his country. Strange indeed it is,
that men certsinly Of great talents and dis.
playing on ordinary occasions tho highest
efforts Of intellect, should have failed in this
instance to have discovered the absurdity of
heir logic. Had the President been dispo-
sed to unite the sword to the purse with q
Design hostile to the freedom Of his country,
there never was fairer occasion for accom-.
2lishing his purpose than has been afforded
him since his accession to the Presidency
A single word Of favor to the Bank, or even
an iatimation Of support in attaining their fa-
vorite object o re. e.charter, would have at
once enlisted in his support all the vast pat
ronage which il is known to possess. Here
might have been an union of the sword and
the purse to some purpose. So far, however,
from evincing any disposition to accomplish
such an union, our patriotic Chief Ma sistrate
took the earliest opportunity to rend the Sc
paration Of these potent engines Of over ss
vide as possible, by calling the attention of
his fellow citizens to the dangers to be appre.
hended from the intrigues and usurpations
Of an unprincipled and irresponsible monied
oligarchy. No one, we apprehend, will
contend for moment that the removal of the
public treasury from the vaults Of the U. s.
Bank TO those Of the State Banks can place
i more easily at the disposal of the Presiden.
han j, was before such removal. The same
egal formalitios in Withdrawing. the money
from the control of the State Banks are to be