Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1834-12-11

U
sent may be hailed as the epoch IN our
history the most favorable for the set
Element of those principles in,olr domes-
tic policy, which shall be best calcu "a
ted to give stability to our republic,
and secure the blessings of freedom toI
our citizens. Among these principles
from our past experience, it cannot be
doubted, that simplicity in the charac-
of the federal government, and rlgid
economy in its administration, should
be regarded as fundamental aud sacred.
All must be sensible that the existence
of the public debt, by rendering taxa
ton necessary for its extinguishment,
has increased the difficulties which are
inseparable from every exercise OF the
taxing power and that it was, in this
respect, remote agent in producing
those disturbing questions which grew
out of the discussions relating to the
tariff. Ifsuch has been the tendency
of a debt incurred in the acquisition and
maintenance Of our national rights and
liberties, the obligations of which all
portions of the union cheerfully &C.
knowledged, it must be obvious; that
whatever is calculated to increase the
burdens of government without necessi-
ty, must be fatal to all our hopes OF
preserving its true character. While
we are legislating ourselves, therefore,
upon the extinguishment of the nation
al debt, and the prosperous state of our
finances, let us not be tempted to de-
part from those sound maxims ofpublic
policy, which enjoin a just adaptation
Of the revenue to the expenditures that
are consistent with a rigid economy,
and an entire abstinence from all topics
Of legislation that are not clearly with
in the constitutional powers ofthe gov
eminent, and suggested by the wants
of the country. Properly regarded,
under such policy, every dimunltlon
ofthe public burdens arising from taxa
ton, gives to individual enterprise in
creased power, and furnishes all the
members of our happy confederacy,
new motives for patriotic affection and
support. But above all, It's most I'M
portant effect will be found in It's IN
fueHce upon the character of the gov
eminent, by combining its action to
those objects which will be sure to sc.
cure to it the attachment and support
of our fellow citizens.
Circumstances make it my duty to
call the attention of congress to the
Bank OF the United States. Crea-
ted for the convenience of the govern
ment, that institution has become the !!
scourge of the people. Its Interference
to postpone the payment of the nation
al debt, that it might retain the public
money appropriated for that purpose, to
strengthen it in political contest-the
extraordinary extension and contrac-
ton ofits accommodations to the CON-
munity-its corrupt and partisan loans
its exclusion of the public directors
from knowledge Of its most impor
tant proceedings-the unlimited au-
thority conferred on the president to
expend its funds in hiring writer's, and |
procuring printing, and the use made |
Of that authority-the retention of the |
pension money and books after the Sc
lection of new agents-the groundless
claim to heavy damages, in conse-
quence Of the protest ofthe bill drawn
on the French government, have, thro'
various channels, been laid before con-
gress. Immediately after the close of
the last session, the bank, through its
president, announced its ability and
readiness to abandon the system of I'M
parallelled curtailment, and the inter-
ruption of domestic exhanges, which it
has practlsed upon from the LIST of Au-
gust 1889, to the 30th June, 1894, and
to extend its accommodations to the
community. The grounds assumed in
this annunclation, amounted to an ac-
acknowledgement that the curtailment,
in the extent to which it had been car
ried, was not necessary to the safety
ofthe bank, and had been persisted in
merely to induce congress to grant the
prayer of the bank in its memorial re-
lative to the removal of the deposites,
and to give it new charter. They
were substantially confession that all
the real distresses which individuals
and the country had endured for the
preceding six or eight months, had
been needlessly produced by it, with
the view of affecting, through the suf
ferings of the people, the Legislative
action of congress. 1t is a subject o.
congratulation that congress and the
country had the virtue and firmness &c
bear the inhiction; that the energie:
of our people soon found relief from
this wanton tyranny, in vast importa.
tons of the precious metals from al.
most every part of the world anc
that at the close of this tremendou.
effort TO control our government, the
bank found itselfpowerless, and no lon.
ger able to loan out its surplus means.
The community had learned to manage
its affairs without its assistance, and
trade had already found new auxilia-
ries so that on the first of October
lest ha