Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1834-02-06

balances they owed to the Bank ofthe UnHed
states, out Of the public monies so transfer
: red tothem, and partly to sns,ain their credit,
: and to enable them to enlarge their opera
tons, by an advance or loan OF the public
monies ,--were, in principle and III effect,
withdrawal of monies from the treasury With
'lout any appropriation made by aws and q
4 violation Of the constitution.
/ Resotsed. That the constitution of the u
States entorming, in this par, alar, with
1.-The csgstituiioAs of all free governments
peratively requires and provides, that the
sole and absolute control of the public purse
should be vested and jealously retained IN
the Legislature, and especially, that no con-
troll over it should be permitted to the Execu-
tive; and that the assumption by the Presi-
1dent, in this instance, of power to take a
way the deposites Of the public monies from
the Bank Of the United States, TO which they
Iwere destined by the Legislature, and to
,1place them in any State banks he may deem
ut prudent to stlpulate, and to take away such
Ideposites from those State banks again, and
i contde them to new repositories OF his
own selection, At his will and pleasure, with
out authority or regulation Of law, amounts
to an assumption by the President, OF iuil
Iduo ubooiutC pOWtf oVCT tuS PuDtASS f,--s
and has direct tendency to concentrate all
the powers of government in his hands, and
to convert our free, happy, republican instl-
tutlons into simple monarchy.
Resolred, That il is the serious apprehen>
sion, or rather the firm conviction OF this
Injecting, that the admission of power in the
President Of the United States, to place the
immense treasure of the government In such
banks as he may select as repositories there
oil, and then again 20 take them from those
Repositories of his own choice, whatsoever
he pleases to do so, must, by inevitable con-
sequence, give him absolute power over Inc
bank selected as repositories, inasmuch as
his power of Withdrawing such large funds
at pleasure, may put such banks under the
alternative of instant bankruptcy or OF pas
tsive submission to his will; and thus the
treasure of United States may be made the
means OF extending the influence q the Pres
ident, already by his patronage too great, and
OF securing and ferpetuatlng il TO him, over
the whole nation, and in all the relations Of
society
i Resolced, That the pressure and distress,
which even thus early embarrass and en-
Danger all the commercial interests and bu-
siness OF this great country, already so sensi-
i bly, and generally felt, must soon, in the ap-
prehension OF this meeting, be aggravated to
an lncalculable degree of mischief, and per-
wade every interest in the community; and
hat this mischief cannot be imputed to nny
thing done or omitted by the Bank Of the u.
States; for, according TO all the information
accessible to this meeting. the efforts of the
bank TO call in lis funds Tin order to enable it
4 n the u0ayorpnla1
| fairs, produced by the action Of the govern
ment--to sustain run upon 1t, conducted by
the government itself, with Its overwhelming
means-io do, in short, what the Executive
avowedly intended to compel it to do, that's.
to begin immediately to wind up its affaps]
have been cautious, moderate and forbearipp.
but, IN the opinion of this meeting, the pres
sent distressed state of things is to be impu-
ted TO the conduct of the ExecutIve-to the
shock which this lljudged measure has giv-
en- to the public confidence and credit--to
the necessity it has imposed on every man
to withhold credit from others and looking
only to his own securIty-and to the general
sense of the jeopardy to the whole property
of the country, which sudden and violent
changes never have failed, and never will or
can fail, TO produce.
Resolred, as the opinion of this meeting,
4 That no efficient corrective of the evil can be
devised, save only the removal of the cause
that has produced it; the adoption of meas
ures to reverse, to the utmost extent praeti-
cable, the pernicious action Of the Executive
. to restore public confidence, by restoring to
the Bank of The United States the rights
(which have unwisely, unjus,ly. Illegally and
lnconstituiionally been taken away from it;
Tor, at the least, by securing to the bank the
: ldeposites heretofore made which have not al
/ ready been drawn from it, and the deposltes
) of all public treasure which may accrue IN
future during the continuation of It's charter;
} and above all, to reassure the people, that the
disposition of its treasure belongs to its rep
resentatives in Congress, and not to the Ex-
lecutive, and thus to reassure them of their
property and Of their liberty.
i Resolped, as the opinion of this meeting,
Il That no corrective which Congress can de-
wise, can be effectual, unless it be speedily
,lapphed.
i Resolred, That the Chairman be requested
to transmit copy of these resolutions to
, leach of the Representatives of this State in
the House of Representatives and Senate of
: the United States, as expressive of the delib-
lerate opinion of their. constituents now here
I, assembled, On the present fearful conjunc-