Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-14

AT the opening of the house today, Mr.. Cambre,
ling reported bill from the committee Of ways and
means for withholding the last instalment OF the sur
plus. II was read second time and referred 70 INC
committee of the whole on the state OF the Un'oh'
Mr.. fusion was then elected Chaplain. Before the
house adjourned, Mr. Adams offered resolullons eau
ing on the President for information reauye " ILcA
leo and the North Eastern boundary also asking
whether Texas has made proposlton 10 NC aolhi'-
ted into the Union or not. $1,000.
In the Senate nothing was done except 10 receive
and refer some ordinary business. II tneA went mo
secret session. and shortly after ADJOURNED, Inc SoH-
mittee on Finance promise TO report IN iul oy lnurs
The fnanciers of Albany are complaining loudly
against the severity Of the message whicn relates 10
the withdrawal of the public moneys from their bank
n,pt institutions Several protests have found their
way TO members of both houses from these disnter-
es ted gentlemen complaining of this measure.
What right have these soulless Spectators to COM
plain of scarcity, when for the last twelve months
they have had at their dlsposas, to use at will or con-
yenience thousands and millions of The peoples mo-
neys, gambling it away if not at the card table, and
the dice box, in lands, and stocks of various kinds
They censure prirateiy Mr.. Van Buren,, for taking
this step, while at the same time, and In the same
BREATH their organ is sending forth its fulsome songs
of praise for the decided stand thus taken by the Ex
ecutive.
To any man acquainted with the politics Of Albany
but more especially with that clique, who control the
affairs not only of the State but IN certain degree
the course of the last year. the leading politicians OF
Albany united as body for carrying on extensively
the traffic Of lands and stocks The facilities were
given BY the banks, principally entrusted with me
government money. The purchases made by these
gamblers within the past winter and beginning OF
the summer, amounted to nearly three millions Of DOL
lars which enormous sum was furnished them or use
by these very depostc banks who wereto snare IN the
end equal portion ofthe profits that might thus arse
from these purchases. They bought, bat have not
yet been able TO SELL The suspension OF specie pay
mens, was the only measure that could be taken at
the time to keep from the pubic eye the develope-
ment of this swindng transaction. 1t had been sus-
picioned by many that this body inrisibte was in
volyed, to a certain extent, but 1t has never been
known that the extent was between two and three
millions Of money; nor would this TACT nave now
been brought before the public, had not Mr. van bu-
short their day of grace, which these gentle
men pronounced as q piece Of heartless severity on
the part of the President.
In every instance where the banks have had
the possession of the public moneys, 10 greater or
less degree, this traffic has been INDUCED inf not
by the banks directly at least by their agents. which
is the same thingknowing that their statements are
true Is it then wonder that the opposition IN the
House tenacious upon giving into the hands OF the
Executive the entire control and management OF mil
lions and millions of dollars? What guarantee will
they have, that this power will not, in the end, be
turned into an engine of corruption-weldng, as II
necessarily must influence of the worst kind where
yer it is appledso formidable, that 1t may not De IN
progress. They will have the Presidents word for
1t, and that will be all they'll get. If this moned
power, although at present so limited, can nOlr con-
trout the actions OF Congress, what may not be ex-
pected, when an increase OF power IS added TO ~
Look how the matter now stands IN Congress. Inc
Judiciary Committee which is made up, but with one
two exceptions, of strong party men, IS now en-
trusted with the consideration Of general bankrupt
law. The committee is packed one; and do not
hesitate saying that it chosen at the request of
Dir. Van Buren, with an especial eye to the interest
of that inquisoral clique at Albany. Mr.. Van Buren,
indirectly recommends the passage OF bankrupt
law. Why2 To secure fresh influence abroad
that is all. By the passage of bankrupt act, the
banks would be compelled to specie yments
at once or TO shut their doors for good. Now, how
could this operate in Albany and other cities of the
Union2 1t would be the signal for immediate de-
srucion, 10 at least three quarters OF these institutions
1t would be the OF placing before the country
a horde of rotten spectators and public defaulters
that have been faening upon the profits OF their low
villainy and intrigue And not the least conspicuous
among these, would stand the Albany Regency of
your state-and also few who, by blood are closely
allied TO the Executive himself. This pretense of
the President is only used to hull suspclon-should
the committee pass upon bill, II Will be so limited
in its character that nothing will come from it. rest
assured. The interest of Albany must be seen TO,
and there is better hands place il in than those
Of the Magician.
l have not time at present 10 pursue this subject
further, but expect in subsequent letter. full expose
Of some of the polished villanies practlsed by
the Albany Regency, that has yet been dvulged. Ii
public should know what kind of men they are sup
porting. The hood winked game has been practiced
long enough.