davidaulloa/AmericanStories huggingface dataset:
Litchfield enquirer., 1837-08-24

his arbitrary course, the Executive seemed to become the more restive and vindictive.- 1'ie Bank still retained the deposites, and had four years to run. With a view, there fore, of unsettling public confidence, and oi forcing the removal of the deposites, the President suggested doubt of the solvency of the Bank. The subject was referred to committee composed of a majority oI ms l friends, (Mr. Verplank, ChairmanO Wno re- ported a resolution, that the government de- | posites might, in the opinion of the house, pc safely continued in the U. 5. Bank, WHICH
 was adopted by vote oi lOS to 4o. I1G!G again was the President foiled ana then 9iu
 he determine to accomplish untGwtuIty what he had again and again sought to do under the color of law.
 The veteran Pennsylvania democrat, Ing ham, was dismissed without ceremony from office, and a man supposed to be more sup pie (Mr. Duane) was installed. The de- cree went forth-(Amos Kendall being in the meantime despatched to make arrange ments with the Pets)-that the deposites should be removed. To the astonlShment of the Executive, however, MT. Duane in- formed his Excellency, that by the charter the government contracted, upon certain considerations, with the Bank, to depositc the public moneys therein, until it was no longer safe to do so. He believed they were still secure in their vaults, and therefore could not conscientiously violate the power with which the charter had invested him. Mir. Duane quickly followed his Pennsylvania predecessor, and was succeeded by less scrupulous man, (Mr. Taney,) who did the disgraceful act, and was elevated, at the de- cease of the illustrious Marshall, to the Chief Justiceship.
 Thus was introduced the system of Pet Banks, which was deemed at the time, by members of Congress and an intelligent pub- lie, a fragrant usurpation of legislative power by the Executive; an exercise of power which Congress itself had repeatedly declin- ed. The bank was finally prostrated, and offered the government 1l5 for every SlOO of stock they held: The President forgot the insolvency of the Institution, and accepted the terms.
 The overthrow of the National Bank, the substitution of State Banks, and the Specie circular, constitute the Experiment, by which the country has been hurled into almost universal bankruptcy. It has occasioned the alarming increase of Banks, which in 1880 amounted to 32O, with capital of l45 millions, and in '37, to 677, with a capital of 324 millions. This unlimited credit stimu- lated the enterprise of the people, which the Banks could no longer sustain, when shock ed by the transfer of specie from their vaults, from the East to the West, for speculation in the Public lands. Had the controlling pow CT of the U s. Bank over the extravagant is- sues of the State Banks been retained, there would have been no over-trading, no univer- sal ruin. The calamity has befallen us-, the people must look to 1.-the welfare and happiness of us all depend upon capable and honest representatives.
Litchfield enquirer., 1837-08-24

GRATITuDE.--An Ertract-I remember once that Philadelphia merchant many years ago, whose wealth and importance were only equalled by the goodness of his neart ana the purity of his principles, rescued what was worse in those days, the hands of the Sheriff. Tho son of the mechanic was young, but old enough to know his fathers beneiactor. Many years after this, the mer- chant fell into difficulties, and at the most trying moment, when all his former friends mad forsaken him, the mechanics son, now comparatively wealthy, stepped forward to ms relief. "I am much indebted to you," said the reduced merchant. !" By no means" sald the other, "I have only paid tho debt which my iather contracted at the corner of Chesnut street thirty years ago. when was just old enough to know the cause of my poor mothers iears." The merchant grasped his hand and burst Into flood of tears.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

She siop'd a spell, then a spring snap'd
and she whis'd again, and the spIinters
flew, and by and by the hull scrapo Oh
em slop'd. Zekel slck'd his kew down
and look'd AT me, aud says he, "Major,
We have split the old watch, but ! don't
vally the. loss ont an sitom seeing that
you have got o notion by a." And With
that he scrapedit altogether and wrap
ped il up in the Washington Globe
C there" says he, "Mnjor, do you send
that to The Government, and tell The Gin
eral there is more there than some folks
think on who want to meddle with Banks
and money matters without knowing alb
about 'em; and with that we took a glass
switched and went to. bed. Your best
friend. J. DOWNING, Major
Downingville Militia, I'd Brig ade.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18
<Es
~~S-o dIS UNUSN
SnYENS SsGD
NEWPORT:
Thursday, May rs, S37.
DIR. WEBsTER'S SPEECH.

/ Mhs EBSIEk'S SPEE(U.
We publish this morning the residue
Of Mr.. WEBsrER's SrEEcH. at Niblo's
Garden, New York, on the occasion of
his recent visit TO that city. The portion
we publish to day must attract very great
attention, as it furnishes, in n short COM
pass. the clearest and best connected nar-
rativc, yet given to the public of the ex-
traordinary war on the CyRREScY which
Gen. Jackson thought fit to commence
in December 1929, and which, from ono
step Of ruin to another has finally reduc-
ed this once ilourishing country to state
Of inextricable confusion, and of utter
prostration and bankruptcy. We ask
any candid man TO look back to the con-
dition OF the United States in March, 49,
90, when Gen. Jackson was inaugurated
President, and reflect upon the sound
and prosperous state in which all the
great interests Of the country were hand
ed over to him by his predccessor--nnd
particularly, that not a country in the
world was a, thn, time in possession Of
more perfect system Of exchanges, and
currency SCI sound and uniCnrm as HAT
then furnished by the Bank Of the Uni
ted Staies-nnd then follow Mr.. Web
s!er,in his history Of the Executive .usur-
patiOns, by which this great fabric Of ma
ti"nal prosperity has heen wantonly over
thrown, in defiance of Congress, and
say, whether the authors of this calami.
~ will not be visited by the sevrrest TO-
trbuton from an indignant people? II
is remark able, that not in single in.
stance have the wishes Of the People or
Of Congress, been respected by the Ex-
ecuiive. In every instance, where it
was possible to in,erpose their authority
they have in vain rxertcd it. No soon
or however has Congress adjourned and
the Representatives dispersed, than tho
very worst measures submitted 10 them,
and which they had rchuked most point
edly, have been at once taken up and
carried through by the minions which
surround the Executive. Perish CRE-
DIT!-Perish CoMMERcE!-RmG Glory
To Gen. JAcKsoN-and llURRA for the
GoLD CURREHcY!!
Verify, unless the signs Of the times
egregiously deceive ns-the dny Of se-
we're reckoning and a righteous retrib"-
ton is at hand.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

The steamboa, Lexington. Captain
Vanderbilt, arrived here yesterday morn
ing in I2 hours and 81 min. from N. Y.
with l36 passengers, having encounter
ed severe gale from the eastward,
strong tide, and a thick fog. Through
the pol,euess Of Capt. Vanderbilt, we
received the Commercial Advertiser of
Tuesday evening, from which we have
extracted several articles Of interest. A
gentleman who came passenger in The
Lexington, says she "breasted the wind
and waves like a gull, and satisfied cve-
ry one that she is as good sea boat and
as staunch a vessel ns runs the sound. -
The steamboat President which left
New York on Monday, arrived here
yesterday at I o'clock p. m. ...
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

ZEKEL BiGELow's ILLUSTRATION.
The N. Y. Eve. Star republishes from
one of the letters Of Jack Downing, frs,
published in September, 1888, nearly
four years ago, the following extract
What was then prophecy in relation to
the Bank Of the United States, is now
history.
! The Major it seems had come on to
New York from Washington, to ascer-
tain for "the Gineral" how things would
work in case the deposites were taken a
way from the u. S. Bank, and given n
mong sundry State Banks. He fell in
with his old friend Zekel Bigelow, and
they together entered into the inquiry,
and the Major thus writes:
ezekiel says there is jest about so
much hard money all the while, and it
keeps goin round and round and all a
bout creation, and they git the most ont
and keep lt,who are the most industrious
and cute in inventin things. He says
that paper is jist as good, and ler,Ie
better than hard money, if folks don't shell
out too much ont; and it is the natur
Of paper money makers to git of as much
as they can; and il it warn't for some
thing to check it it would soon be as bad
as old continental times.
Zekel says, on the hull, that money
matters, and banks and trade, are all as
curious as one Of Peleg Bissers clocks
and folks hadn't ought TO meddle or al
term ont without KNOWN all about it
"And now," says he, "Major, I'm o
good mind to give you notion; ! kno"
il will spile the old watch, but l want t'
show you my notion why l think trouble
will come ,if the Gineral insists on knock
ing down the u. S. Bank"
!, Zckel is one OF them sort of folks ant
! alwas was, who are determined ITO make
a spoon or spile horn," and with tina
he out with his old watch, nigh upon a
big as tea cup, and wound her up, ant
and then clapt her TO his ear, and the'
to mine. "She is as true," says he, "a
the tides" ale then opened her
"Now," says he, "Major, do you se'
that ere big chain pulling all the while
and then do you see gr'st OF l.i'l
wheels and springs and screws? We
then, look here: on top is Cig 'chee'
that is all the while goin round one wa
and back ogin, and jist SO fast and n
fastrr-ihat (says he) is what call tn
kicker, and if it warnt Tor that yo
;. would see trouble in il right of, and i
show YOU; but know it will send the Of
watch all To smash )" However, b
twi,ched out the kEcker, or balance wheel
and the old watch did rhis for spell,
| tell you. Some of them little wheel
went 40 fast you couldn't see nothin %
EN- for spell. One at las, keeled uT
and another got its teeth knocked out
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18
REMARKABLE PROPHECY OF MR.
CIIA Y,


/ The People are now looking back 10
the warnings and admonitions, that were
in vain uttered by the VINO statesmen
of '33-'34-' '35-in regard to the con-
sequences of the destruction Of the U.
S. Bank Comparing them with the
promises and predictions Of the men
whose counsels they iollowed-they may
learn whom to trust for the future. - Bos-
Ton Alias.
"The Bank has been doomed to de-
struciion, and no one now thini the re-
charter Of il is practicable, or ought to be
attempted. ] fear, said Mr.. Clay, that
the people will have Just and severe cause
to regret its destruction. The admins.
tration Of it was uncommonly able; and
one is at loss which most to admire the
imperurbable temper, or the wisdom pi
its emily Pres,t ent. No country
can probably possess better general cur
reney than 1t supplied. The injurious
conse quences ofthe sacrifice qj this valu-
able institution wiU soon be (eH. There
being no longer any sentinel at the head
of our banking establishments to warn
them, by its information and operations
Of approaching danger, the local institu'
tions, already multiplied to an alarming
extent, and almost daily multiplying, ia
seasons of prosperity will make free and
unrestrained emissions. al The chaanei'
! Of circulation wil become gorged. Prop.
eriy looking up,the temptation 10 p,rchas'
wiH be irresistible. Inordinaie specuta
f;on miH ensue, debts riH be freely con
fracied, and rhen The season Of adrersii,
comes, as come IL musi, The Banks, acting
mlhout concert and ,riihout guide ,obeyins
III, lac oC self prese ration, ,ciu al III
same time call in their issues. The ras
number rW eroggeraie The alarm, ant
GENERAL DISTRESS, WIDE SPREAD RUIN
AND AN EXPLOSION OF Tue WHOLE BANK
INC SYSTEM, or the establishment OF
new Bank of the United States will b'
J, the ultimate effects"
4 What was prophecy in 1885, is histo
ry in 1897.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

Resolved, That we have full confidence
in the ultimate ability of the Banks of this
city to redeem all their bills and notes, and
that we will ourselves continue to receive,
and we recommend to all our fellow citizens
to receive them as heretofore.
Resolved, That IN nm emergency like this,
il is alike the dictate of patriotism and self
interest to abstain from o measures tending
to aggravate existing evils; and by mutual
lforbearancc and mutual aid. 10 mitigate, so
far rs practicable, the present difficulties, and
thus most esse entialy 10 assist in the restora-
ton Of specie payments.
The resolutions were put singly, and unan-
imously adopted, and the meeting adjourned.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18
t6- Several interesting articles ore
necessarily deferred till our next.

The steamboat Kingston has been
Withdrawn for shot time ,and hauled up
on the Railway at this place for the pur-
pose, we understand, of adding some fif-
teen feet to her length. This alteration
it is expected will considerably increase
her speed, and enable her to perform her
trips between this place and Providence
in about two hours on an average. She
is fine boat, and has decided claims on
the patronage or the public.
The Court Of Common Plcas for tbs
County Of Newport, rs now in session. I'D
this town.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

From NEw ORLEANs.-A slip from the
New Orleans True American, Of the 4lh inst,
says that one of the deposltc banks in Mis-.
sissippi, has refused to pay in specie a treas
ury Graft for $l25,O0O. Thus it is not New
York bnt the government, that has set the
example ofsuspendng specie payments.
The same slip gives n report that the Mis-
sissippi legislature has authorized the banks
to suspend specie payments.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

THE CONSTITUTIONAL CURRENCY.-The
French indemnity was brought home in gold
and great credit was claimed for the admin
istration. for such prOvident care.
Yesterday demands for instalments then
due on claims allowed, were presented to the
Bank of America, and payment in gold re.
qnired. 1t was refused: the demand was
formally made and protested, and sent on for
recovery to Washington. Where is the con-
sttutional currency, the hard money?-(.N
y finer.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

"The humble efforts to restore the cOnsti-
tutionnl currency ofgold and silver" to which
General Jackson so complacently alluded in
his Farewell Address to the People Of the
United States-the advantages he promised
us from the Gold Bill-from the Brancb b
Mints, when in operation--from the security
given to the Public Treasure by the Specie
Circu!ar-the policy of the SAT ty Fund Sys-
TEN, recommended by the author of the letter
to Sherrod Williams-have now all been am
ply tested. The period has arrived when
according to Senator Benton gold should flow
up the Mississippi, when according to the
Globe, the wives and daughters of our west.
ern farmers should travel with gold and silver
shining through the meshes of their silken
purses-and what do we see? Where are
now Mr.. Reuben NJ. Whitney, Mr.. Attorney
General Butler, President Van Buren,, Mr..
Secretary Woodbury., Perish Credit, Perish
Commerce Beardsley? Where the Albany
Argus, Governor Marcy, and the Albany
Regency, with their exquisite regulations of
the currency? All their humble efforts their
prophecies, their political economy, have
proved the bittcresl curses to the country,
and they stand before the world, some OF them
as the most ignorant of men, others as the
basest, and all as the authors Of the destruc-
ton of our prosperity.
The owners Of the French indemnity i'm
ported by order of the late President in gold,
can now obtain on the Treasury warrants,
nothing but paper, and one Of these warrants
on the bank of America was yesterday pro-
tested for non. payment. The action of Con.
gress is indispensable unless Mr. Van Buren,
will run the risk Of impeachment, and not
withstanding his supercilious language to the
New York committee, he must call them to-
gethcr, we hope, however, he will not rec
commend the repeal o: the Specie Circular.
IN y COur Il En0.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

lfone wishes to see an instance ofthe rapid
fall Of stock, let him come to Buffalo. Van
Buren, stock, which just after town election
was quoted as above par, has fallen within
three days one hundred per cent. literally TO
nothing. There IL, we believe, but one full
blooded Van Buren, man in the city, and he
holds an office under the general government,
worth $4,000 year. Buffalo Journal.
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18
PENNSYLVANIA BANK OF TIE
UNITED STATES.

We have the following information in re.
latIon to the suspension of payment BY the
Bank of the United States.
In consequence of the failure ofthe Treas.
ury of the United States to pay the demands
made upon it in specie, and the Bank Of the
United States, holding large claims upon the
Treasury Banks which il is unable to realize
it has been compelled to suspend specie pay
ments also.
The government, through its dcposite
banks, having failed to meet its engagements,
the Bank Of the United States did not think
ii justice to Philadelphia to continue specie
payments.
Whenever the government is ready to re-
sume specie payments, the Bank of the United
States will be ready to cooperate with the
treasury in that object " y. Cou g. Eng
Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18

! THE CRIsIs.-The Banks Of the city Of
New York, ON Wednesday 10th inst. by com
mon consent, stopped payments in specie,
and each agreed to receive in payment of
debts, and on dcposte, the notes of all the
Banks of the city. This measure was resolv-
ed on by the officers Of all the banks except
three, on Tuesday evening, viz: the Manhat-
tan, the Merchants and the American. These
three on the following morning united with
the rest in the measure, and accordingly
there was no payment Of specie from any Of
the Banks oil "Wednesday. 1t is stated that
the drain Of specie by hill holders and tepos-
tors exceeded SIX hundred thousand dollars
on Monday, and seven hundred thousand on
Tuesday.
i from the ". Y. American Of Tuesday.
Public MEETING at The Merchants Exchange.
The following call was this morning circu-
lated:
! PUBLIC MEETING.
I; A public meeting Of Merchants and Ira
! dcrs, and others is requested ut the Mer-
chants Exchange, THIS DAT, at l2i o'clock,
! to consider and adopt such measures as may
/ be deemed necessary and expedicnt under
! the suspension Of specie payments by the
| banks.
II In consequence thereof an ovcrfowing
4 meeting assembled at the hour named, when,
on motion, the following officers were up.
pointed:
II PresiJen'-James Boorman.
~ Secretaries-John A. Stevens, Richard NJ
Blatchfor. VIM. II. Aspinwall.
James G.. King then presented himself Ia
the meeting, aud read the call, which he en-.
forced by brief and pertinent address.
Mr.. X. then moved the following resolu-
tons, which were seconded by Nathaniel
Prime:
- Resolved That under existing circumstan
ces, it is expedent and necessary to suspend
payments in specie.
Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-08-24

y PURSUANCE oil decree Of the cncuit superior
=. cont OF law aud caacery t0t thct ountv OF Am
hefsi At lis April tenn. 1897, in tie OF JUu Eu.
banh Plaintiff, asaiu,. Edmund Winston, late sh,r-
III OF the county ol Amherst aud surh adnin>tla-
'er With the viii annexed of Robert Garland and
others dccndants the undersigned Sheriff of sad
county OF Amherst, and Commits ,iontr for the pun
pose nlmrd III the said dec III, on Monday the
tcui OF Stftcn,Atr nex AT tRltcrst count -hors~. DE
'nS court da,,) pro.eeJ 10 sell by way oi pubic AUG
noi to thr lI -hcsi bidder GA y credit Of months
'e Saw Hear, aud al o,i property u The sad
"cefee referred to. Inc lnrcnaa r, OF oreha,cfs
WIZ tie required IN gIsr bond With sufficient security
'oi 'he i',N,u:lu OF tha j,urchnse money.
JOHN COLEMAN, >bc2f
end Commissioned.
August 10 IDS
Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-08-24
lsdsa.N ING aH..
SlfB.rREASlRIE "

FROM ite Redmond EaYHrfr.-- Commandments
The Washington Glnh, of the Psi inst IN an N
uele heAlcl "DaIpt ANp CnNqurR." attempts L.
enforce thc necessity Of ~ rrgul5ing the rollrcIua
at tlc public lrscnuc OF the 'nlfrd Sllirs +. II dis
Hen>c with the agency al all banking institutions.
aud To- receive IN us eai; aud si'fcr ofht
! ltroplr< At Large. with derilcl anptnbatinn. tie a
neullncnt uifgcl by Nj Gordon 10 bill penl,ps
heol" the House OF Representatives, nr the lcpull
lion ui the public delesifc III the Staic banks re-
qatns the ptvmrnt al al public dues IN gold and
silver, aud conhIing the k.fplne .ud di,lnlrsinp al
the puht revenue 10 accents ot fha Treasury, II has
era SAIL thd tinCs are strangely on 81 mint and
/ II may he>ud thai npmlons nrrlninu to pubic inca
sue, ar strangely uncertain aud tisStfa3u. l., \
i1ermienrt 10 the columns 81 thu Globe II viii be
nnnd that Wien tins mopns ino1i. va suhmttrd 10
the II 'nsr ot Representatives. hy Mr. Gpt5lnn II " ~
ms Violently assaulted by Inst ioulual aud lnlune
Al, the members Of the House hlcndl, Ia the Ad
mm~tr rlon, II obll ed the to1r ot hat snrlr nnr
- 'ol, Bctle. ol n4lmt. The proposition oi Nh
tiprlpt intended 10 defeat bill amrd and IL.
Irnfird arcoldnG To the rero tmeud tinu al General
lnkNop h m-rlt, N his annual message To tongirss
earnestly edhu" upon Couoess tunegulnc. /, Law.
tu' ficpn- ne al the public none, The Slafc bankN
\"H Tie louc 81 the q ole Is ttus aud tins very
policy, decidedly repudIded hN ,lsrl. and IL ire.
81 hS tn vote ~ GeaIN every friend al lr Admins
ltdi"n III tongus-, - alcu INTO rre,t l1toi, aud
earnestly recn nneaded Ia the oproj otth, teluhll
tanpntN ~ hi III, rNp #dssm 4nd piolor
Ihr tIobs aNs ltd TIT .thteJe prop sd die po.
hes winch Pre-rlc jackson WIS 20 ao, fcllons to
/ Dno'ec rs tunS'iluipul lllustpr." W that
the VIA &c le,euur ui The lnaed SItts derived flou
customs, ln l.. tj obcr samcas, slal hr pll,l IN
the current coal al the L. Sales.' rhi. ~chemc
WoPo.c1 The policy "ncb Genera Jle>son design
e. uIam'a"IS a rllrrR, would respectfully iuqune
Why az hc iJJlcj II rrnd II hl- nts~aacs !
AID WHY his mend, INItg ti1c lnlloitiS IN ( on.
eles~ I'D avail rhcneo ers oi tic nprofunr, 80
GurlN afforded bn Mr. Gorou's lfopos,nonto ADOPT
It lan well Satisfied uaa tie " GIolle'' is nli,faa