Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-09-12

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fauco' 'hosh ,rene %. mansr'n'ui 81 dorr,tc - tor
"a exchange II indeed suitcpfed g. regulate " l~
~ tc~etn tie states and to provide ccpetai
sandird Of vaue medium % thapso IN gold Ct tcfi
"a 3D. 10 nut ptos 20 AID irj, iduais tie tausicf ~
sr urd. otiorSisc tan thtrugb tie erc, shcfdrd l.,
ne POI Office dspatimen' A. justly might 10 caicl
ptutJc fof tie Incorporation ~ ilf ucrcha nde Icte
l.c ofrr.tars ~ tradc TIE, ought 10 conducted d,
i,, " oats uittcsied tn tlcr "a t - tat manner at
iac.ttu.l culcs " other puuiis ,untctd b,
Tie ohot classic a. ctts-rs Such ad has bot been drcm
ucecsafy ia other cuurtrcs. Throughout Eofcpe the DO
vel 90 tic foreign exchanges are caed 81 by
private hru,r. often. H ust generally without tie
oftaus Yet hey 'Ncrd tous out distinct soyereguic,
and a otectd 10 smou"i tie e' oiehangos Of the United
Staic,.
There reason Why our own my not he oondue.
ted IN the rAmc manner, With equal chcbpucss aud
safety C'ia,uy THIS might lee accomplished, II It
w,tr lVutcd ~ thosc most deeply interested and
few can doubt that their own interest well ~ the
General welfare of hr country, would be promoted by
nNluE such sui pct leo The hands Of those to whom
property belongs. system founded on private inter.
. crteVfisc and petiinn without the ND oT lc.
gsia'l., grants or regulations by law, would rapidy
l-.f. ,r, % would be free fran the influence Of pot
cal iiIn, aud ext, nd The exemption to trade
Jtsri oui would put IN eud TO those complaints Of
rrr,r g. paJiahy injustice mud oppression, which are
the unavoidable results uf Interference hy the ruvctn
moni, 10 %, proper concerns 81 individuals All FIR
mcr oi''np's "a ac part Of the government, TO- carry
~ cffa;ou ln tis rect, further than was design.
ca by The rcuet'uiaN have in The rni proved iuiu 1
oal vc seiytd'uy tpconvnce the grco: body Of the
people more aud more, of the certain dangers Of blend
ing private inlcrcns with the operations Of public bust
r'ts; and there IS up reason 20 suppose thut Irpc.
ton a. thru now would lc more succcssful
II cannot he concealed tlat there exists in our conf
u'ny opinions cri Feelings On this subi,c, IA direct
opposition Oh each o.h.r. a large potion Of them.
combining gfoHt inip'l EcLcc activity md b lurrcc
~" Do" o9"bl Hnttir 10 their belief that The operations
90 uade ought b' assisted by such connection; they
regard national tank as necessary for this irposc
aud they ere disjnourd TO every mrasurc TINT doe.
not tend, sooner ~ later TO the establishment Of such
an institution. On tho other hand n ,upior,v AZ the
il,tI IL.
measure they consider such a concentration Of power
dangerous 10 tier liberties; and many of them regard
II ns violation Of the Constitution This collision
Of opinion has doubtless caused much Of the cmtat
easement 10 which the commercial transactions Of the
country have lately been exposed
Ranking has become political topic &c the highest
Interest, and trade has fuf.cicd IN The conf ct If mar
ties speedy termination Of this state If thinrg
however desirable is scarcely TO he cSp,cicd We
have rc'n that for neatly half century tina, those who
advocate national bank. by Whatever motive ibev
may be Influenced constitute portion Of our comu,i.
NIFTY too Numerous to allow TO hope Tor an carly a
budonn cn' Of hc.r fay rite plan On tic other hand
tty must indeed form erroneous estimate Of the in.
tellgerce and temper Of the American peoplr who
suppose that they have continued on spht or insulI
ccnt grounds, their prrsevtring opposition To- such an
inaututlonj ar that try be induced by pccuniary
pressure or by any other combination of crc umstancct
to furTrndtF Wnclrs they have so long aud SD iunrA
.hly mniniaiiod.
My own views Of the suffice, are unchanged They
nave bcon rpoai' dy aud unrcsriVtdiy nnn,urccd 10
q thpII
conferred upon ne the TWO highest Office. of fov,rn.
ment On The last ut these occasions felt il d1c 10
HE people to hplfzr them distinctly that ia the ven,
Of my election would not b. able To- CO. on ntc IN tho
reVsGhlishnrut of Il national bank To th, ., s.,,,
ments have now only to add The expression of an in
creased CONVICTION that the bshmeui Of such
bank, nony iorm whilst il would not acconlul sh the
be nthem purpose promised by is advocates womb I'M
pair the rgh'ul supremacy Of the popular viii; iniure
th character ana dinnsh the influence Of polni.
cal SYSTEM and bring more into Si,teuc, n con.
p In iIap a..
enng the pctIAan'ncy of our republican in,iu,ions
Local D'hks nave teen employed for the ,cpostc nd
distribution Ct tn" revenue, MI times partially md
on three different oecssions exclusively FIRST ateriof
TO the establishment 81 the trst bank Of the United
States secondly, IN the interval between The iern,nn
ton Of that institution and the charter of scccssor
and, thHGly duiins the limited period which has now
30 abruptly closed Tho connection thus repcatedly
attempted, proved unsatisfactory on each stcccss;yc
oco-SIoh' ho,N lIng the various measures which
we're adopted TO facilitate insure it's succr,s On
NE last OCCASION N the year Irj3 the employment of
hd HiaIc backs Was guarded especially in .y.ty wnv
men 'NP'r'hce aud caution could suggest Per.ona
security was required for the safe krrpnr md pronn,
payment "i the moneys 20 be received and full returns
~ tHer condition were from time 10 time TO be made
., ti.p G'p'slorirs In the first stages The measure
vas tmlnehty successful, notwithstadlny Tho violent
opposition OF The bank Of the United States md tlo
lnecasing Efforts made TO overthrow it, Wv
ne sfiec'd hanks performed with fidelity and with
'u' ohy embarrassment, 10 themselves or 10 the com
hHnly, thc!r engagements 20 the pov.,no.on, - "
y stem promised TO be permanenty uses,, H. a'u '"e
t'GhWe Necessary under the act of June I-ar =,
'HLu[aw iioti then the public money, for ihr mr.
"se oi placing 1t ~ additiona. institutions or az t,su
'H'hB IL 10 e states they found il in many ca.os In
o"''h'h' 10 comply with the demands of the Tr,ns
~ ana n""efods and pressing applications were made
'r indulgence or relief. A. the instruments mad H.
opposite law became payable their own embarrassment,
hu me necessity under which they lay of curlaiIin1
l'r discounts and calling in their debts increased ,e
eheIaI distress, and con tibuted with other cnnse. o.
"stch le revulsion IN which l.npth they in cor
90 WIN Inc other banks, fatally in yolyed q
thd'f itss circumstances il becomes On, .oI,, >
y % inquire whether there not in nm co,n.c,,
tween the government and blnks of issue ,y,i. 81
Teat magnitude, Inherent in lis very nntur. sI ,
',hS' winch no precauton can eiiectually Guard :,
IhlofArtn IN ihc organization Of III. rovc,,,,o, =
do i'i'H On .Le Treasury By early nee ssities tL n
a'uce "i employing tanks was in truth from the I !,
"hnF NOR. MEASURE ci emergency than sound nI o
:. Nhrn We started into existence as a na,,on =, fc
'o'''n 10 ihe burdens OF the new government =, d.
s"m'o al The large but honorable load OF debt ih AZ
~ INC Piice Of our liberty; but we hcsatrd 10 weigh To
~" III. miami industry of the country by re.o,t,e
aa'qna'e taxation Tor the necessary Teycnne Jhe lc
.'' 81 Canhs, ~ return for the priv iIeges ,he az m
Htd' we're promptly offered and pehaps too resdiI ia
,t''so' 10y ln embarrassed treasury pu
Iuiing the long conliBulnce of a BatonaI db, - co
intervening difficulties OF foreign war. The con- o
ZION was continued from motives of conven;.nea. ~
. us, '4u''s have long since passed away W. b.,