Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-07-08

irss year of Prcsiaeat - -. .ss,;H..seI
o Il . party a political ckasaease.
But wAc6 tho nev adniaisasaaioa ~ - NV.
r., the possible use might be u,aAe e e. 1921
institution in cementinR The lhauenco - pevnr1
ing the Partixans Of NE new administEaalsa, vas
not overlooked. =
Gen. Jackson was elected 10 10 psss;asaey =
November, le26, AL took tho oath a e6ce a
# his election and inangssaaioa; the Era sldess
wero begun 70 gain over tho haak of IL UaiSoA
States, in which wcrc the public aeposiAes, - -
to make n and the dcPositcs the iassrameae e
executive viii. Tho 6rst effort vas uads n Ksev
lucky by certain mcnbess If cnagress iron shat
state, friendly 10 The new administFat1o6, Who
caused paper 10 be Prcseatea - tho cashies a
the hank q Lcxingtoa, nazifng several iaaividuah
~ directors Of the branch At tAaA plaes, wAa, IL
vas said, would b acceptable 70 thc party = Pos
or. The character and standing q The iadivid0-
ais named did not, ~ it appears from ~ accom-
panying Documents, stand too high 30 justify an
pinion that if appointed by the Instruction ofpas
~ lcsders they wosld be used far party purposes.
the hank.
The second effort was made by isaac Hill a.
some other prominent party leaders 10 New
Hampshire, TO remove president a the Forts
mouth Bank, because his politics were not o.
grccabic to the party in power THIS PsoPosi-
ton resumed semi--o(hcial character aad
though believed 10 have the sanction Of the cab
met, it was rejected without hesitation. But
this rejection was followed by q hong and Dad
ly war wagcd by the executive against Dat
bank, which ended in its destruction N
tional institution. The FIRST decisive attack .
made by the president, in his message 0f tho 7th
December, 1880, in which he proposes 10 organ
ize hank as branch a the treasury department.,
with the necessary Offices, based On Puhaic aild
individual dcpositcs with pernissioa 70 sell oals
of exchange to individuals. A baak I'd which
the public money was 70 be deposited, with Pses.
ident, directors, cashier, every odiiccr aPPoaaaed
and its whole machinery moved BY tho executive
, hand. This h what he essayed TO make q tho
then disclosed his purpose toPull down that bank
. and build up snother institution which shoslA o
= his bidding. Heace s0lI6wed The, veto upon the
8 bill rechartering the Band Of the United StAtes
+ AT tho time OF the message containing shss veto
+ and the reasons, Wild and Inconsistent "a ehey
were, sa~ the fixed PuFposo Of tho president,
and saw, or thought saw, tho consequences
which woald sollow ths pursuit a siles FsfPsse.
But rs much was said of tie inioey - ear car
- rcncy, the destruction of exchanges, the geaessl
% Prostsatioa Of business and commescc, The suf-
ferng g the poor; the misery q tho debtor, and
q all the civil and unhappy consequences which
q must follow shock, such ~ this which va -
upon country, felt that II Na1 ill q suiall lm
d. portancc compared with the danger TO our insti
10 tuaofis from following cut tho executive plans
le for the assumptiod Of the public purse, with tn
n other powers Of government that ho had gather
P cd intohis hands. But there vas one circum
0OpCO
o, consummaton Of all these mischiefs and tho full
o concentsaton of all power IN the bid Rand thai
us was 30 eager to gsasp IT, The plans Of tn
u, president could NOT be carried out-a treasury
SIS bank could not be established, filled 70 ovcsow
M ing with the accommodating and increasing rove
10 MUGS, until the year 1896, when he character o
q the bank which held the public dcposites by law
IL should expire, and within year Of that time
re his term Of service would expire also. IL was
4 TO be presumed that any man would succeed him
n having the sciH and the 10 carry his pue
", poses Of their result
nd But il was determined by tho president not 4
On wait the slow eillux Of time. Henco tho meaae,
in 1880, calling the attention Of ooegresa 10 q
as subject Of the bank, ratisor bank 70 y bsii
mt upon its riins-Hence in his message % Con
gress in December, 1881, in which be suGeesse,
a. doubts whether the Bank Of the Unitcd Stats
ne were safe dcpoeitary Of the pubic funds. Tia
n: it was not in good faith with view Of -
n certaining whether il was safe inSer fFU@ d
70 fact after full investigation had been made b.
Ia an agent appointed by himselE-aftes most {
'rs labofate and cheerful emmiuatio BY ~ Hose
nd Representatives On the same subject both q whc
at ended ID conclusive; absolute proof that he pal
lor lie depostes were safe, and that Tie baak W
'ut well conducted for the interest of Tie couotsy,
cooclusom in which the house Of representative
as almost unanimously coacufred; he ret - Sooe q
cd, once, immediately on the adioaEn0eat a eoa
gress, negotiatiohs and an1ngemests To- ssul
ire wing those dePosites On Ms own rePonssility
Nd This was one q his most powerful ssd deaeNni1
sct ed efforts 70 accomplish this be sct, q dcanc
es- the constitution q the laws and . ssered con
bic poet of the nation. To effect this, 10 re@sve
ne two secretaries of the treasury, the oos % %
he other department., Tie other he disnissed ifes
ct service before be could ind an instsUcnt suosl
by Went and reckless enoueh 10 Do - eesA TN
as violation Of the faith Of the ssaioo . naoios
lch transaction-this blow upss The eree q De
in numbcr e(irresppsasihse hanks whore i wossj