Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1837-08-18
FREEMEN AWAKE.

49,
JAcxson's LErTEn.--The plot begins 10
chicken the signs grow less and less dubious
and the day is al hand, when desperate effort
will be made by the administration to CONSOLE
date by law the whole money power and pat
ronage of the country in the hands Of the Ex-
ecutive.
The letter of Ex-President Jackson to the
editor Of the Globe, an extract from which we
publish this week, is certainly one of the most
extraordinary documents of the age. II is evi-
IDENTIFY put forth to bolster up tottering admin
istration, TO sanction the monstrous scheme of
a Treasury Bank, and in the hope that the
popularity of the opinions Of the Ex-Pres-
dent may have the effect TO counteract the
strong tide Of popular opinion which is setting
against the Experiment System, of managing
our national affairs. The people are beginning
to be tired Of experiments, and vigorous eff
fort must be made by the Tories ,or the last great
experiment, the end and aim of all the prece-
ding ones, will have to be abandoned.
The government, says Jackson, is entirely 10
disconnect itself from The business and affairs
Of The people; "a truly republican government,
which is disconnected and distinct from, and
raised above the business and people of the
countrylD and is I" 10 collect the revenue and
disbtrse IL BY THEIR own AGENTS. This
alone," continues Gen. jackson, "can secure
safety 10 our revenue. AND CONTROL
THE OvER-ISSUES OF THE STATE
BANKS"
Now what is this plan, we would ask, but
GREAT TREasURY BANK, controlled By the
President cfhe U. s., with branches in every
State, city, town, village and hamlet of the ma
ton; and every revenue officer, land agent,
postmaster, and 10000 other retaners of the
President scattered all over the land, are
to be sub-agcnts, and repositories of the
peoples money, obedient 10 Executive tciH.--
A pretty engine of power truly to be put into
the hands Of the Executive of republic, And
that for the aro,ced purpose too, Of controlling
the issues Of The STATE Banks. Yes, let /, be
borne in mind-read il in Jackson's own let
ter-"this alone fIJ- CAN CONTROL THE OVER
ISSUES OF THE stats BAsKs.=H
just look for moment at this gigantic
scheme. What is III II is simply making the
President of the United States banker general
for the whole country. The, Treasury at
Washington, which is entirely under his con-
troll, is to be an enormous BANK, with branches
as before observed, in every town in the land,
OF which the officers and retainers Of the gov
eminent are President, Cashier and Directors.
The whole pecuniary business Of the govern
ment is to be done with specie, credits (sec
Jackson's letter) are to be done away, and in
fine the government is to have aNoSoroLYofthe
whole circulating medium OF the country
This would be indeed NArIosAL BANK with
avengeance.
The chief argument Of the opponents of a
national bank such as Washington and Madi-
son sanctioned, has always been, the great pow
er which it would WELD. Would that power,
think you, be essened by placing il in the hands
of the Executivei Nay, would it not be ten
iolded' We repeat the question,--If the OBJ
lection 10 commercial national bank is,
the great power which il would WELD, would
that power be lessened because it is lodg-
ed in the hands of the Executive, whose pow
er, patronage and influence is already so great
as to threaten our liberties9
According to Jackson's own view, (see his
letter. this measure would give the Treasury
and the Executive, an absolutely irresistible |
control over the State banks, and the President |
could, by his own mere ipse dixit, say when
money should be plenty, and when scarce
when the State banks should issue many, and
when few bills, as should best suit his own
views and designs. This would be in every
sense OF the word, and to all intents and purpo-
ses, a union Of the purse and srord. Are the !
people Of his country ready 10 place all this
enormous Potcer in the hands of the President
Fellow citizens, will you sanction such meas
ufc; will yoo risk the consequences Of so fear
Iul an experiment? Remember the words of
that immortal statesman and patriot, Patrick
Henry, UNLESS MIRACLE SHALL rSrERposE.
no NATION EVER DID or CAN RETAIN ITS LIp-
ERrY, AFTER THE Loss OF the SWORD AND
THE PURSE"
SAFETY OF THE PuBLIc MoNIEs.-Gener-
Al jackson says in his letter to the Globe, that
he plan of collecting, keeping and discussing