Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-11-15

ty the difference is in~calculable.
Whether | regard, then, the perni-
cious influence which this bill must OK.
ercise upon the currency, if now en-
acted into law, or the ~inadequacy Of
its provisions for the safe.keeping of
the money, | am equally constrained to
withhold my assent. In the first aspect
it has never been submitted to the coun-
tsy-and has had very little considera-
here. The innovation is too great, the
transition too violent from all previous
usage, TO be thus suddenly met.
The people are too deeply interested
in the consequences which may follow
to have this usage changed, without the
most matured consideration. For my.
self, sir, | want to go home from this
whole subject, Rein: fecta. 1t is n new
proposition, presented for the first time
in an imposing form by the late mes.
sage-and before adopted, should be
well and thoroughly ~canvassed before
the country. The President himself
in proposing it, invites, and the subject
is well worthy OF, the fullest dellbera.
ton.
Let it be discussed then, as 1t will be,
and as all great public measures ought
to be, by the people themselves in their
primary assemblies, and through the
press, before it is enacted into law.
No inconvenience a possibly arise
from this postponement, first because
the time must necessarily be short, as
Congress will be again in session with.
in six weeks from the adjournment
And, secondly, because the whole sys-
TEN proposed is now, under the late or
ders of the Treasury, in as full and
complete operation, as Especially ordai-
ned BY The Mw under considerations
The Secretary has already adopted it,
in the exigency of the occasion, under
the discretion given to him by the law
organizing the Treasury Department.
There is no occasion, then, for this
great haste, and there is every reason
why we should forbear.
We are told, however, by an honora.
BILE member from South Carolina, (Mr.
Pickens. that by our opposition to the
present bill, we are strengthening the
interest of that party which seeks the
re-establishment of a National Bank.
This suggestion, sir, has come from q
very remarkable quarter. | do not
allude now to the member from South
Carolina, but to a distinguished States
man from the same State, in the other
wing ofthe Capitol. The Sub Treasu-
ries, it is said, must be ordained at once,
as the only safeguard against the res
toration Of a great National banking
institution-and this Vaccination seems
to be thrown out as a sort of bug. bear,
to brighten us into instant submission.
Sir, in my humble sphere at home,
or in the halls ofour State Legislature,
my opinions oil the subject of a Fede.
raj Bank, need no new confession. |
have eve been an uncompromising foe
to any such institution. | believe the
existence of such a bank is inconsistent
with the purity, and dangerous TO the
safety of popular government. have
ever opposed it in every form, on
grounds of expedlency- and, what is
above all, to fix and confirm that oppo-
sitIou, | entertain no doubt whatever,
that it has no sanction, either in the
spirit, or the letter Of the constitution.
Strongly committed, then, to such oplni-
ons, and having uniformly acted up to
them in every time of trial, in the re.
moval of the deposites, through the pa
mic era, and the Executive veto, | am
not to be frightened from what | have
taken as the path of duty, by the new.
born fears, even of SO distinguished a
proselyte.
distrust the quarter, sir, whence
the ~denunciation comes. | have no
confidence in that counsel which springs
from the zeal Of recent conversion
opinions that are hastily taken up,
are as speedily laid aside, and are wor-
thy of no reliance whatever.
No, sir, in my humble judgment the
danger Of recurrence to a National
Bank, is 10 be looked for in the very
opposite quarter. In the immature
conception and hurried execution of
this Sub.Treasury scheme. | do not
mean to predict ii, because | would
not be understood as disparnging the
judgment ofthose, who confide more
readily than ! do. But suppose they
should fail-suppose it should be found
impractlcable to carry out the new
scheme-that the currency should
grow worse-that bank paper should
continue irredeemable-and the people
become wearied out with your rigid
exaction of coin from them, while no.
thing but paper is paid to them. ask
you, and | put it to the serious consid.
GRAFTON of the country, what remedy
would then be found You could not
fall back upon the State Banks. They