Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1834-12-17

IatlDg 10 VIC tdItu. II SuSh H"o oO0h uio
tendency of debt incurred in the acqnisi-
ton and maintenance ofour national rights
and liberties, the obligations of which all
portions Of the Union, cheer'ulIy acknowl-
edged, it must be obvious, that whatever is
calculated to increase the burdens of gov
Arnment without necessity, must be fatal to
all our hopes of preserving its true charac-
ter. While we are felicitatlng ourselves.
therefore. upon, the extinguishment of the
national debt, and the prosperous state OF
our finance, let us not be tempted to depart
- from those sound maxims of public policy,
ch enjoin Just adaptation Of the reven-
VI the expenditures that are consistent
q rigid economy, and an entire absti-
!, from all topics oflegislation that are
,eariy within the constitutional pow
{, the government, ana suggested by
ants of the country. Properly regar-
Under such policy, every diminution
he public burdens arising from taxaiion
; to individual enterprise increased
+, and furnishes to all the members OF
happy confederacy, new motives for
riolic affection and support. But above
its most important effect will be found
) influence upon the character of the
rnment, by combining its action to
{ objects which will be sure 10 secure
t the attachment and support Of. our
3w-citzens.
circumstances make it my duty to call
attention of Congress to the bank of the
States. Created for the convenience of
government, that institution has become
p scourge ofthe people. Its interference
postpone the payment of portion Of the
,llonal debt, that it might retain the pub
: money appropriated for that purpose, to
|,irengthen it in political con:csi-the eX-
raordinary extension and contraction Of
I. accommodations to the community-;ts
iupt and partisan loahs-its exclusion of
public directors from knowledge OF
most Important precceaings--lheu nlim-
cd authority conferred On the president to
xpend its funds In hiring writers, and pros
yu,ing the execution Of printing, and the
use made of that authority-the reisntion
pf the pension money and books after the
selecuon Of nav agen;s--the grouadless
Aim te heavy damages, in consequence Of
the the protest Of the bill drawn on the
Wrench government, have, through various
'hanneIs, been laid before congress. I'M
ediateiy after the close of the last session
he bank, Through its president, announced
is ability and readiness to abandon the sys-
I'M Of unparalleled crtai!insnt, and The in
eruption Of domestic exchanges, which it
ad pgaciiscd upon from the LIST of August,
533, to the 30ih June, So I, ana to extend
Accommodations to the commInity.-
nc grounds assumed in this aanuneiation
mounted to IN acknowled gement that the
drtailmspt, in the extent to which it had
cen carried, was net necessary to the
afety of the sank, and had been persisted
I merely to iaduce Congress to grant tn J,
lra esr of the ssnk in its nemorial relative
70 the rsxoval Of the dePssites, and to give
= j. anew charter. They were substantially
q confession that all the real distress
which individuals .egsa The country had en-
dured for The preceding six or eight months
had sscn needessly produced by it, with
the view Of affecting, 'hrlngh the saiiarings
Of tia p.spls, the Legislative action OF con-
gress. # is a subject efcanGratulalion that
congress and the country had The virtue &
hrmnses to bear the ieii!ction, that the en-
= eryie. of eur people sooa found relief from,
his csntcn tycanny, In vast importatons
# the precious metals from almost every
part Of thu .sorld; and that at The close Of
eahis tremendous sttort to .coatroul our gov
ernmsnt, the bank found itself powerless,
and no 10 sXer nbIe 10 loan cut lis surplus
means. The community had learned to
manage lis affairs without lis assistance,
ana trade had already f,und new auxiIia-
Tics; 30 that ON the first Of October last, the
extraordinary spectacle was presented ofa
rational bank, ,aore than one half Of whose
capital was either lying unproduciivc in lis
vaults, or in tn hands of fIreign bankers
To the needless distresses brought OIL
the country during the last session of
Congr IS, has since been added the open
seizure Of the dividends on the public
stock, to the amount Of one hundred
and seventy thousand and forty one dol
lars, under pretence OF paying damages,
cost, and interest, upon the protested
French bill. This sum constituted a
portion Of the estimated revenues for
tie year 1884, upon which the appro
( Priations made by Congress weIe.based.
1t would as soon have heea expected
that o F.ax collectors would seize on the
= customs, or the receivers of our land
! sfiices on the moneys arising from the
sale of public lands, under pretepce of
claims against the United States, as that
the bank wsuld have retained the divi-
dends. Indeed, if the principle be es-
tablished that any one who chooses to
set up claim against the U. States,