The Arkansas advocate., 1834-01-31

of m official atatament, there neyef was a Ggosser aaempt by misrepresentation, to E deceive this body.
 The iolns oi inc funk. Tiei'feiisssi, U $ said. from twenty eight iiiiiiio,s, to millions. Nov, sis, what IS ttie5iact he i discounts oGl tie Bank. on tiie sf q Janu- arv. 1881. were thirty three millions; and on Ire first of lsfav, I{3ss2, they were no more than forty seven millions, showing differ enee of fourteen millions only, instead of twenty eisI4t millions, as asserted. Just one half. The Secretary l.as only doubled
 tbe amount. I speak of actual loans by
 discount But thls Is not all. Ihe see- retarY s4lpplesses the iacf, that tise i5itI5A lad, within that time, been repaid more fhan eisyht millions, which it had loaned to Government. And he suPpresses the fur ther fact, that 1t had also teen fepaid
 sz .sS7 ,G06 loaned in isngland. Here tlH.a,
 9sas an increase Of cash ln the vaults otiiae
 Baf.k. within tAoao six lnonths. of aboat eleven millions of dollars. Ihls fact, ] ssay. ttEh4e sseegetasy has suppressed; and l
 aust heke4e, suppressed t iaieaitonaff5x5
 N it.l an intention 10 impose upon Congress- ] because tie fact is of a nature not to be
 overlooked. 1t accounts fer the increase
 of discounts by large increase of irnd5; and 1t shows that, ii ss;;ect, the extension of l discounts yyos little else than a mere oN- change of credits. file Bank received Il
 its money from one debtor, and lent 1t 10
 another. let the idea here held out to US,
 i5, that the Bank increased is discounts,
 ia six months, rem fiEty-two millions to se-
 vanty millions, fer political proposes.
 Nor is tais all. Every man ia the least acquainted with banking, knows perfectly
 well, that, for every dQiiaf in tie vaults ei i
 Bank, is directors nay safely issae more
 than dollar. The ordinary rue Is, to is=
 sre two fer one; though some Banks in
 New York, believe, exceed this proper-
 iion Y ilea iiie Bank, therefore, collected eleven millions of dollars t had loaned. | might, en taat amount have issued twenty tss6o taiE:aus of its nptes. So that the e1- teaogtilafy increase of accommodation of winch 50 mach has been attempted to | be naade, tgts3s on3 to f{e no more tban hat { was the natural and leaiiimate e!leei of tie , augmented cash capitll iTl tic vaults of the ] Bank.
 , l}pt thefe > oHa view of tiis case can. nor onif presenting te ffse lfoHse. VI ail isuoA t!..st the year I65i was | year of un- l Peecedentedly lafee iesporta6ons: so much Fl sse, that t!se Ike lad Ae1 been known in if .Efeen ears before. ] lie consequence WAS } an nnpseeedontodlg lafge co9elaereiald debt: ;ssd an unprecedented record of Hank ac- z eouncda4iaHs. lSaa tiiis period. selectee z aa tiat ef attack, E precisely ate Period.ia ] which sthe conduct of the Bank will be { foanl worthy of all eolaa1en n5lation.-- I The Bank looked at the condition of inc country; t husbaaded all its resources, and with ] Wise aud pa9siofic policy i extended 2 al its recommendations. And bat, sir, foi
 this coarse oa the paLt of that institution, 3 the -cnnsez45eilee lallsf inevitably have been : the gloomy and lno9frious anticipaions oi gentletaaa from asew York, at that time t (Rlr. GaInbyeleng. lie told us ti..1 tll.e :. ssaal., by Is iJgcll4se accommodations, lac induced, had scducod rather, the merchaata ot our country into making excessive in- p8Ytations. That ruin WIS inevitable: no ! thing coald save ire country Well, sir
 and what took place! Was the counif} : mine& No, sir: tho Bauls saved 1t from ruin. Though the impoTtations were So large, and the eqHeatdebt SC enormous. : yet the county passed through the threat enng period without struggle. By the wise nanagefaeHt ol the Bank, it was cas- ed down, and all weHt smoothly. Sir, the merchants would Hat lail, notwithstanding , the gentleman had Pfepllesiedit. And the
 ffaffuie of lis propFe ies should teach us to give credit to inc Bank for having accom- pl:aEel what our wisesi political economists had s!ee.aed Q iie impossible.
 Ne8 sir, here Is one Of the proofs to
 show that tie Bank interiered with President
 siaclSsoa'a election. Tie Secretary asks
 'ean any reason De assicued for this denaft-
 ure from inc course which the interests of q
 moneyea corporation, as wei as tbose of
 the country, require l am not aware that
 any sufficient justification has been offered
 Aud this extraordinary increase 0f it's loans
 made in so short space of tine, at such
 2 periQdof lts charter, and upon ttle eve Of a severely contested election of President in which the Bank took an onon and di
 rect demonstrates thaf it was using
 is noneyfo the purpose of obtainine q hold l upon tac people Of this country, in order f6
 operate upon their fears, and to induce them
 ny inc apprehension of ruin, to vote against the candidate whom 1t desired 10 defeat.o
 Here, sir, Is the Secretary of the 1'reas-
 uiy setting himself mp to judge what tlae in- ] tefests ei q great moneyod institution
 tii''s-c or Y, r-'s :. :. . notoss.,fq taot the Bank, after doiuu all f!lie. and ,,,al5;,c. .t.