Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1836-10-13

uOrs lnd'ed SAVIOR ol the van Bnrh phicy,
FouRrH QUEsTioy.
"piH gen sisn and approre (T IL be-
comes necessary 10 secnre AMI Sare rom
depreciation The rerenue AMI fiancrs IF
he m0iion, and 10 afford a uniform sound
currency 10 lie people u hc T"ded Sfaiesp
bW ("iih proper mod. .Gcai'ons and re-
siriciions) eha' feritg Bank of he Uni-
led SialcSY'
GEy. IlARRIscN's ANSWER.
lie answe ers explicitly TINT he would; and
says II agree with Gen. Jackson in the opin-
ion expressed in one of his messages to Com
gress; Tint Bank of the United States
competent to nl the duties which may be re-
quircd by the Government might be- orga-
nized as not 70 Infringe on orr dele 'nted pow
ers, or the reserved rights of tho Sla,cs."--
The difference between them is, that, by
Government, Gen. II. means tho constitution
nj Government of the United States, while,as
is avowcd by Mr.. Van Buren,, he and Gen.
Jackson mean The Erec,uipe. The Bank con-
templutcd BY them was To be Treasury
Bank, which, with the revenues deposited IN
it was to BE- undcr the absolute control Of the
Executive.
|. Mr. VAN BuREN's Answer.
| For answer to this question, Mr.. Van Bur
rcu refers to a letter Of the Attorney Gene
raj, in 1885, IN which that officer was author
izcd to state his opinions. ain that Icrter
(snys Mr. " B, Mr.. Butler thus states my
opinions upon the subject of the Bank" &c.
That he (Mr. V. b. is therefore decidedty OPP
posed to the establishment Of national Bank
in any Of The States; and is also opposed 10 the
establishment Of any such Bank IN Me District
Of Columbia, as unnecessary and inerPedient,"
&c sc.
Il Mr. Van Buren, it appears, uses the Attor-
ncy General as his private Secretary, to
write his eectioneering letters. An Auor-
ncy General of the u S. would be forgetfuE
/ of the dignity of his office, and wanting in
! self respect, who would allow himself to be
! so employed even by the Preside nt- We
! have Mr.. Van Burcn's decision, however, up
| OIL the subject of national Bank And how
! does it cumport with the sentiments OF the
! people of this State, and of their Representa-
tlves in General Assembly, who, without re-
gard to party, "Resolvcd that, in the opinion
: of this Gen. Asscmbly,a national Bank is ne
ccssary to the exigencies of the Government;
necessary to the maintenance OF sound, uni
form and permanent national currency; to the
maintenance of the general credit and eonti-
dcncc, and to the accommodation of the IN
tcrnal and. foreign trade and business Of the
: unanimously: there being but eleven mega
tive votes out Of sxty-eight, and those elev-
en-, it was understood, objected to the phrase
oloey, and not TO the principles of the reso-
luton. But the consideration OF national u
tity which alone influenced the minds Of the
people Of this State and Of their Representa-
!, tives, were far different from the calculations
of policy which make Mr. Van Buren, averse
| to any national Bank.
;. 1t is well known that individual banking
: institutions, when disposed, have 1t in their
power to exercise but too much control over
their debtors and customers; and that when
y brought into combination under a political
l., head, and made to cooperate for political
e purposes. that influence becomes almost ire
e sistlble. This result has been experienced
: in the State of New York to the fullest ex-
It tent By an act of the y: Y. Legislature the
J" Banks in that State had been formed into
g such combination under the control of three
l. Commissioners; one to be appointed by the
IS S,ate-,hat is by the ".4ibnny Regency" with
o, power in each, at pleasure, to put any Bank
1t under an Injunction. With this power, and
2, the agency of a State Bdnk,and six millions
Y, loan from the State these Commissioners, by
s slow degrees, formed the combined Banks in
IS to formidable political engine Bot the ex-
C istence of national Bank was found to be
:, a great impediment to the efficiency. of that
: engine. 1t was q refuge to those who were
: not willing TO surrender their principles az
the condition Of obtaining Bank accommoda-
tons. And it also kept the Safety Fund
Banks on their good behavior by limiting
their issues, reducing the rate Of interest, and
10 keeping down and regulating the exchanges
which has been so fruitful source of extor-
tions since the national Bank was broken up.
N This was enough to excite Mr. Van Buren's
,e hostility to "any national Bank" except o
or Treasury Bank But this was not aH. Nc.
er V. b. had mounted into higher aud broac-
f. er political sphere, and was now aspiring I"
re obtain the same mastery over the whole ma
is ton that he had acquired over one ot the
e. States. To accomplish this it was natureI
~ tbat he should resort to the same political
rs contrivances that had already 30 well served
if his ends. And having first established new
,e tenure of office unknown 10, and subversive
n Of the constitution; and until then unknown
e to the naton-requiring political subservien-
cy to The Chief instead Of ofic iel services and
fidelity to the country-and, having caused
the whole body Of civil officers throughout
G, the Union to be organized and trained necord-
al ing to the New York discipline; It only re-
Pr NAMED to get possession OF the pubic reveh-
t. ucs,and the control of the moned institutions
re of the country. To effect this, il was neces-
G. sary that the national Bank in which the pub
m lie revenues were required by law TO be de-
posited should be gained over and brought
IT. into political cooperation with the safety
he fund Banks Of New York; or that the public
OF money should be forcibly taken from II ans
= distributed among selected Banks more man
Sc ,yeable and available. That the attempt va
to made 10 seduce the netionsl Bank and brinI
ITS il under party control, is well proved BY thu