Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-07-05
\ NATIONAL, BANK

was ushcfed in' with the peal ofcannon.
\ NATIONAL BANK.
IL is remarkable fact. when the events CONNECTED
with the desituelion OF the late National Bank .,,o,
Ken INTO consideration, that one of the chief pron,l
OF opposition to the fe-incorporation of such AN -,
s''u''on Is It's supposed tendency become an aly
ana oi course an instrument in the hands Of the Fed
efaI Executive whereby say its opponents, mere
hlclous and dangerous connection will be lormedbc
'"ech the Political and the Money Power
strange objection, to be sure, this would be- eycnlCi
were well founded, whcnu urged by men, who, through
the nstrnmcnalty..o of the Sub Treasury Scheme
winch IS but softer name for an Eyeif10ft Bank
seek to elect between these parties close and in
dlssoluble union But ii is not founded in prob,
blllty much less in truth. That a connection he.
tween the Government and the Bank does mi nec,
safily result from the Incorporation of The one ,y tho
other is srlhnsly evidenced by the history ofthe ,o
Bank, which. with every motive to Influence II t
seek safety and 10 obtain lease of its life Nv
subsenlcncy 10 the designs Of tie President VIII,
evidently wished to convert il into Il political engine
nevertheless refused to bow the knec To Iaal -
but nobly standing its franchises, dared to dcly
even his orders whose Iron WILL controlled or
crushed every other individual or institution which
attempted TO act IN oppositioato its stern and uncom
promising mandatcs Can a state of things be ma
glncd which would more naturally lead to alliance
between the Federal Elective and National Bank
dian those which conspned to jofec the late Bank 10
assume that attitude! It's charter MIS- ON the eve
OF eNpiration-grcat Interests were stakcd upon tie
question Gifts rcncwa-thc President had evidently
bXt II ~,
himself on the subject-and the public mind was in
that unsettled and flexible condition which renie,-
ed it no difficult task for Chief Magistrate at once
so popular and so arbitrary, to mould and to impress
it, as he pleased. Al this critical moment, il was
ntmatcd 10 the Directors of the Mother Bank in
diplomatic style, that it would be agreeable 10 tho
President il jeremiah Mason, who was politicolIn
and no otherwise, offensive to the Administration
party in New Hampshire, could be removed from the
Presidency oflhe Portsmouth branch. The Dircc-
tors retused and then broke that fierce and ev,
terminating war, winch, commencing with the re-
moval OF the deposcs still pursucs, with unrclent.
ing ygor and undated venom, a Staie institution,
whose sole offence, so far as perceive is the
assumption of hated name, and placing ii under
the control Of man, who alone, OF all Gen. Jacksons
enemies had the skill and energy to conquer as well
as the courage to confront him This single fact,
as well as all Of lis subsequent incidents, shows ta
there is not as much reason SEINE suppose toap
prehcnd, from the incorporation OF Il National Bank
the union ofthe Money and Political power, even
such an apprehension did not sound most ludicrous
~ when expressed by those who arc IN favor of con
vcring The President into the sole custodian Of the
public revenues and Banker General of the whole
nation, 1t shows most concusiycIy, at all events,
that the mere act of dcpositing the public moneys
in Bank does not, alleged create any connection
between " Bank and State, which the Sub Treasury
men insist upon ditorciag, since when these
depostes removed from the Bank olths United
States, by the arbitrary fiat OF Cen Jackson and IN
the teeth Of the law, the Bank and the "Goscfn-
mcnt" were in ditcct collision.
1t is still stranger that such objection so4'd be
urged toa National Bank by those who complain o'
the course Of the late Bank, which sought only 10
avoid all other except that necessary and harmless 10
cal connection with the treasury which the laws sane
toned, and which became involved in the political
contests ofthc day by honestly resisting the attempt
of Gen. jackson drag it IN the field as an active s
OF the administration. This view s-eYaphlsaysct
forth, by Mr.. Il. Biddc, ofthe House of Representa-
tHCS, kDIolncT 10 Tue fcSluent OF the bdnh,l III 4
speech delivered in thai body on the 18th Of May
last, on the Treasury Note Bill. In reply to sore
remarks Of Mr.. Rhet of S. c., Mr.. BddIc said:
q" One other remark OF the gentleman claims >
passing notice. lie tells the :" money power has
been insubordnate aud lorgctlul Of It's appropriate
character Let see how FAR the dcnnncialion
'avols OF consistency from the distinguished mead {"
hc school to which he bclongs Mr. CALHouN.) J,
IS now agreed that the great danger rom hauon'
bank Is, not that II will prove an antagonist q 'lo
existing Administration, but that It may become
supple instrument. This is a doctrine presSGo 1t
great length by many Senators. They douol'S
smile, in secret, the notion of danger from '''
est between the Government and a bank :; aNhons"'
IS the clamor had been got up on that pfeteA'' ln
eel justified in turning ii to account SuDst'.
Y is the matter to be really dreaded Anu "'
oubtedly they RICH, as TO the sympa,es Oh NV"
y with power. Fastal describes ms solderS's
OF warm slaves, that had as lIel HV'
evl rs drum" SO it is with money. Its haos a.,
warm; its pulse moist and tremulous; there is no
ed ,lgor about it. 1t SIN inks from contest an'
purchase safety by the most abjcct submission hlp
ct, sir, in reference signal instance in "hcn %
hose dcbasinc tendencies rcstcd-h Nii
bank stood up manlulIy and biMed the 'o"".
nd rage OF the Executive, rather than conpIom'
S trust-wc hear oil danger to the country ''""a
hat very unyicldlng perseverance IN the dlsen
f his h and solemn duty. The Executive trump
d the bank was Frustrated. Should new p'""
any distance Of time, be created, II VIII 50 Nv
pcrafion not only with all the evil tendencies s'"
c inherent IN lis nature but with the meno''
sson constantly in view, that It's predecessor
victim to stiffness III maintaining an lnd'l' ,,s
Il -