Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-01-03

TIE UNITED STATES BANK1N PENNSYI.
NANlA.
NICHOLAS nlpDLEsLrrrrRs

In consequence of some conversation which
o,dcntally occurred bctw cen this gentleman and
Sir John q. Adams when recently Oh his way to
Washington on the subject of The clartcr Of the
new L. :. Bank Ia Pennsylvania. and the currency
Of the country, Mr. B,ddIo has written two letters
to Sir Adams, in which ho dcyeiopcs some stubborn
facts which go to elucldaic subject, that Ii now
creating much eXcit omcni throughout the country,
in manner so clear that We think u COMMON
school boy will understand it. In order that the
reader may comprehend the whole matter however,
II necessary that he should understand Tint the
party in power now in Pennsylvania IN conjunc
tion with the Kitchen Cabinet at Washington, are
endeavoring q annul tho charter of tie new Bauk--
that IT, to destroy mona f1c vested right granted
by the Legislature of Pennsylvania. Mr. B,ddle, it
is well known, is man Of extraordinary talents,
and his financial skill is hardly TO be cqualled in
this or any other country. This has been fully de-
monsiated by the fact, that, he enabled to
tain the recent L. S. Bank against all the vindlc-
tive assaults of the administration and the whole
host of Office holders under II ; including the Sec
retary Of the Treasury, Gen. Jackson and Amos
Kendall OF the Post Office Department. mo other
man in the country country could have done it.
The limits Of our paper will not render it praci-
cable to publish the whole of the first letter. The
closing part, however, viii give such view ofihe
subject that the reader cannot but understand it.
CONCLUSION OF MR.. BIDDLE'S FIRST LETTER
certain number Of citizens of other states and
other couniries had large Um0unt ofcoptal which
they were about to withdraw from Penus yiyana.
All the authorities Of Pennsy vsna iptcrpose pre-
vent what they deem injurious to the sse--they
request these distant citizens to leave their funds
in the Staie--thcy pass law Offering certain in
dueements for them to reman-and declare that If
th"S Z" al ..~'~~--' - -li--l1 ,.ar
turbed. They trust to these promises. 'f'hey pay
large sum of money with which the legislature is
enabled to dispense with the taxes in renpsy lvana
to contnue the public works Of Pennsy lvana-
and to educate gratuiuously the citizens of Penn
sylvens. They 90 moro-thcv subscribe volun-
tarily half milljon of dollars to other Pennsylva-
MIA improvements they establish three branches
&c lend nancy to citizens of nsyyania-they
resume their active business in Phade phia, which
probably saved that city and the whole State from
bankruptcy, which would have followed the wind.
ing up of its affairs. And after ali this,
tain persons endeavorng induce the people
of Pennsy lvnnia 10 violate this solemn ngagement
- TO break the pligh,ed faith of the commonwealth
and to annul contract which II voluntarily
sought, nay, solicited from these strangers.
You will naturally ask by what process Ibis is to
bc accomplished There is difference Of opinion
some thinking should be done by The Legisla
tule-others by tho Conycnlion-some with re-
turn Of bonds-oters, without it. Now. none Of
these will be douc-or cannot be donc-and not one
Of them will even be Attended
The difficulty wuh the Legislature Is ihis -
They asked the Stockholders to take tlc cbarer--
they received ihe stockholders money odd gave the
charter. Now, if,his is not bargan--a contract
what is it, What difference is there between
tins aud other engn gements of the State? II takes
my money and gives paper declaring that ! own
certain land. It takes your money and gives you
a certificate Of debt--io another IT says, build
bridge, a canal, or railroad aud you shall have a
paper declaring that you shall lake toll They all
stand on the same footing. The Constitution oi
Pennsy lysnIs forbid- the Legislature Of pennsy-
yana from violating any one Of such engagements
|, contains what it calls - declaration OF rights"
follows;
That the general, great and essential principles
Of liberty and free government may be recognized
and udalcrablv established, We declare
'Thst no expost facto law, nor any Litc inpair-
ing ooairdets skaH b. made
How, then, can the Legislature make law ,o- /
lallnr its own contracts Even RcTe it disposed ,
10 do -. 1t is forbidden bya power sill higher than .
the Legislature, or even the Constitution Of Penn
syivans.
The Constitution 81 he United States is II guar
sutec by 81 the States against any wTong done By
auy State. That INSTRUMENT declares that 'this
Constitution shaH % he nYre'Ee lac efhc taAd and
the Judges 10 every State shall be bound thereby
anything ia the Constitution iates u any safe 1
To The contrary notwithstanding ;,,-snd that Con
sitution declares that ".No state sLaR pas any
idle H,pairiaC the Obligation II ooHfraets" So OBJ /
,.ous l. this that even Mr. George NJ Dallas cav
II. The charter he save, "is CsseHhaih, a eonT0of
made by al least our nominal representatives. with
numerous persons. nine feRGs Of sLom are sf1aA- 4
"gos 10 col. and each u whom contributed 80 =
the payment OF he bonds. some por,ion Of bis (
private property N execution of his hare Of ts
"stlPsls,ions." The nghls which .; impaired I
"srs n0s absolutely vested, and the Constitution !