Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1836-12-07
THE CURRENCY-THE MONEY PRES.
SURE THE PET BANKS, &c.
From The ". York Erpress.

OF some OF the pet banks, an some oil
the bank Presidents, Directors, &C.,
into q yarn Of its own, to point an cleo
~tioneering paragraph with; and TO
represent us (now that the election IS
over) as turning our batteries (once
turned against the Administrator up
on our " political friends. The
Globe is 50 saturated with political in
trigue that it snuis politics IN every
breeze, AMI it cannot imagine that an
Independent press, bent On truth, may
fire an arrow off al oppression, NJ
ter who, Or OF what party, tho opprcs.
sors may be. The truth Is this the
party of which the Globe is the organ
has ruined, absolutely RuINLD the cur-
rency Of the country and now too
many Of the capitalists Of the country,
OF all parties-of that to which the
Globe belongs, as well as ours-hayc
seized this opportunity to plunder the
wreck upon which the merchants are
stranded, and to strip bare yen those
who can escape with their lives. The
Administration trrecked the currency
of the country, aud then these land pl.
rates, as wicked as those who hang
about Barnegat, and plumber our gall
liant ships there thrown upon the shore,
are nov plundering the merchants and
the mechanics Of our land and we
have declared war with them, and we
will not stop till they are fully exposed.
The worst Of these land pirates are the
Pei Banks, whom the administration
has created-wholly irresponsible, of
ten reckless, with millions and millions
of the public funds at their disposal,
used, no man knows how, unless he
finds himself thrown into a brokers'
shop, and made their prey at 80 and
40 per cent. per annum.
Now that the Presidential Election
is over, and we cannot be suspected Of
writing articles for an electionsering
purpose, we tell our readers that it is
our firm conviction that Mr.. Van Blu
rem comes into the Presidential chair
under an express understanding with
many of the capitalists of the city and
the State of New York, to keep the
surplus revenue at thoir disposal, so
that they may discount upon it, and
shave notes at the tune of thirty and
forty per cent. per annum! Hence
that bold and manly avowal ofhis, that
he is opposed to the distribution Of this
revenue-an avowal in m%anliness and
force so unlike his character, that i.
shoots forth as the only bright, and Tie
solitary meteor Of his cloudy lifc.-
Hence his mighty majority in the State
of New York, which is not counted by
hundreds, as it is elsewhere, but by tens
of Thousands The secret ofall this is
money, MONEY, MONEY-aot in the
hands full of gold at the polls, not in
brides actually proffered, but in the
management of forty, or fifty, or sixty
MILLIONS OF DOLLARS, so promised as
10 make powerful men believe that it is
at their disposal to shave notes at 40
per cent. per annum! Thus the Globe
is here but acting its part OF the nigh.
ty chessboard Of tho great gambler in
politics who is about to be cnthroned in
Washington. Every attempt is tried
to make the distribution ofthe surplus
evenu unpopular. We complain that
the Bank Directors create IA scarcity Of
money in order to create usurious rates
of interest. The Globe puts its finger
upon the distribution law, and points
out that as the cause. We show that
some Of the pet banks have notes in
brokers' shops upon the very paper
they refuse to discount at their desks.
The Globe says the distribution law is
the cause. We show the enormous
charges of the pet banks to carry on
domestic exchanges. The Globe again
lays all the mischief at the door Of the
distribution law.
The unwelcomo truth is this, and the
sooner we face it the better-our coun.
try is growing old and strong, and in
its age and strength, like all others, it
is growing corrupt. The surplus re-
venue, unless judiciously managed and
justly distributed, will be but an enor-
nous nuisance, worse than the national
debt Of England, even though it sad
dies every thing with a tax. III be
united with the banking system as it
now is, corruption will iasten itself up.
on the very yitals Of our form of 60
vernment; for the banking system, now
%unregulated and above all control, is
used mot in all cases, but alas, too Of.
ten first to corrupt the politicians Of
the country and the moneyed men, and !
to ROB from the industrious merchant 7
or mechanic his hard earned gains,
and next to AWE him by its mighty
power, if he DARE speak. Hundreds
of wealthy men, this very day, have
risen from a troubled sleep. and have
paraded the streets, with ali the repre-.
sentatiyes oil wealth in their hands, con-
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