Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1838-12-12

A'iassss shousu nave gwen rise to great d.
vorsify Of opinion cannot be subject of
surprise. After the collection aud custo-
~ Of the public moneys had been for so
Hsany years connected with, and maze
subssdlafy to, The advancement Of private
inferestssH return to the simple and self.
denying ordinances Of the Constitution
could not but be difficult. But time and
free discussion elici,ing the sentiments Of
sne psopis' and aided BY that conciIiato,y spifit
whitn has ever characterized their course on ereat
emergencies, we're relied upon for sa,isf.c,or,
settlement OF the question. Already has this anti
siration on one important point OF leasl---tle inn
propriety Of dvertng public money 10 private put
poses--been fully realized. There Is no reason 10
suppose thnt legislation upon that branch OF The
subject would now be embarrassed by difference of
opinion, or Tail TO receive the cord,al support OF
large majority -four constituents. The connection
which formerly existed between the Government
and banks, was IN reality injurious both a. veil
as TO the general interests of the ca,ntnuni,y =,
large Il aggravated the disasters Of ,rsde and the
arrangements OF commercial intercourse and ad
ministered new excitein. nj and additional means
10 Wild and reckless specnlstio'is the djsarpont.
msnts Of which threw The country ipo eoov,,s;.,n.
o. panic and all but produced violence and blood
thed. he 'mprndenf expansion OF bank credits
which MAS the natural result II tho communal Of Tho
revenues Of tho State furnished tb. resources for
snbonn he'd license to svery species ol adventure se-
duced industry from its regular and salutary acca.
pntions ny the hope OF abundance without labor nd
derangcd the social by tempting all trades and
profession into the vortex Of speculation on remote
contingencies.
The same wide spreading Influence impeded al.
90 the resources oil the Government, curiailed it,
useful operations. embarrassed The filfiiment OF
its obligations, and seriously iniertered wiib the
II tha la A
Oppressive taxes the natural consequences of
such connection, since they increase the profits
Of those who are allowed TO use the public funds,
and make il their interest that money should be
accumulated and expenditures multiplied Ii il
thus that concentrated money power is tempted
TO become an active agent Ia political Affairs and
all past experience has shown on which side tina,
influence can be ariayed We deceive ourselves
If we suppose that IL v i'll ever be lvund ASSERTING
and supporting the rights Of the community al
large, in opposition TO the claims of The few.
Ia Government whose distinguishing chnrac
terisiic should be diffusion and equalization OF
its benefits and burdens, he advantage Of indlyid
uals will he augmented the expense Of the mas.
OF the people. Nor is il the nature OF combina
hons for the acquisition of legislative influence 4,
~onhne their interference the single object for
which they were originally formed. The temp,a-
ton TO extend 1t to other matters, is on tho con
-trary, not subsequently too strong 10 be resisted -
community at large, 10, therefore, in no slight dan
ger Of being sensIbIy and injuriously affected by
giving to comparatively small, bur very efficient
class, direct and exclusive personal interest in
so important portion of the Legislation OF Con
gress rs that which reaies 10 the custody of The
public moneys. IL laws acting upon privat, IN
terests cannot always be avoided they .hould he
confined within the patrowest limits and lief,
wherever possible 10 the Legislature Of The STATES
when not thus restricted, they lead 10 combinations
otpowettul associatioHs foster Influence necrssa
r7y selfish, and turn the fair course OF legislation y,
sinister ends, rather than to objects that advance
public liberty, and promote The genera good
The whole subject nov rests with VIM. and |
cannot but express hope that some definite men
sure will be adopted al the present session.
IT VIII not, am sure be deemed ost of place |
for me here to remark that the Declaration of my |
views III opposition TO the policy of employing |
banks as repositories OF the Governnr fund. cam
not justly be construed indicative. Of boslitv Of
ncis or personal, to those institutions erto repeat
In this form, and in connection with this subject.
opinions which have ofmy entertained and I
upon all proper occasions expressed. Though al |
wsys opposed to their creation exclusive priv
hges, aud as State Magistrate aiming BY app,o- |
PIRATE legislation to secure the community aeans, !
the consequences Of occasional nsmansgemen, | |
nave yet ever wished TO them protected by law
aud have never doubted their utility when prope,-
~ managed, in promoting the interests Of /, AIDE !
ana through that channel the other interes the
community. To the General Government thew pre-
sent themselves merely as State institutions having
no necessary connection with its legislation or lis
administration Like other State establishments
tney may be used or not in conducting the affairs of
the Government, as public policy and the general
interests OF the Union may seem 10 require The
ohy safe or proper principle upon which their inter
course with the Government can be regulated ia
that which regulates their intercourse wih private
cIlzens-the comforting Of mutual benefits When
tue government can accomplish financial opera-
ton better with the aid Of banks than without II
should be at liberty to seek that aid as IL would the
services OF private banker or other capitalists OF
agents, giving preference to those who would serve
u on tie best terms. Nor can there ever eN,.t an
interest in the officers of the General (;overn,.r,
Is such, inducing them To embarrass and annoy ,h,
S.ste oahNr any more than 10 incur the hostty of
any other class of State institutions or of nri,s,s
otAshs' III IS not IN the nature OF things that hos
'h's 10 those institutions can spring from this
source. or any opposition to rhe course f b .inas.
except when they themselves depart l,on, the oh
Jects OF their creation, and attempt TO usutp pov.
ers not conferred uIon them, or 10 .ub,ett tb,
standard OF value established by The Constitution
While opposition TO their regulsr operations cnnno,
'As' 10 ths quarter, resistance 10 aty attempt TO
make the Government dependent upon tL,m eo,
the successful admnisi ration # pubi;c .H,ir. =;
matter OF duty, az trust it ever will be of incIina
t!on, no matter from hat motive or consideration
the attempt may originate.
II is no more than just to the banks to saw ,ha,
IN the late emergency, most OF them firmly resisted
the strongest temptations 10 extend their peper il.
sues, when apparently sustained in n sn,na,sio, oe
specie payments BY public opinion, even .bouoh in
some cases invited by Legislative enaoiments' To
this honorable course, aided by the resistance Of
the GENERAL government, acting ia obedience IN
the Constitution and laws of the United States IA
the introduction OF an irredeemsble paper medium.
may oe attributed IN great degree the speedy res
toianon Of our currency 10 sound state and The bu
slness OF the county, 10 is Mnnfed nrnsnnrit. n