The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-02-13

M, -, Montpelier for two weeks past has exhausted
;,s bIiugsgae vocabulary upon MS Tor daring 10 OK
hih;, 10 our readers tho frauds of tho Ofhce-io'"etS
Rank Mt Boston. Keep cool, Mr. Patriot. Inc nan
10 NOT told yet. There arc no gag laws IN opera"on
=; Lo G,ocn Mountain State. The staggering and
rope of all tho pensioned presses IN the oh'o" are
;,t,o,or, with us when duty calls US to expose tho
,,c.odness Of those in power, who have been
trunpng upon tho rights of the people
uha Co,,non,ccalkh Bank-the favorite pei OF me
.,,,;,,;s,,,,io, in N. E. and which has been under
o ovcIusvo control Of Office Holders ana inc p''i
,;aI.r Glands of Jackson and Van Buren, Las laii-
! al ,,,,der circumstances which leave no douo' VI
communion, LARGE sums were loaned to rlch spec
rI,,ors Of The party and put in circulation out "
shor, time provous to its failure. The same mel,
are now buying up the bills at a discount Oh 80 anu
70 nor cent The Boston Patriot says: III Is P'o'
~ yvoI pscertaned that The bills received at inc
Bpnk for debts due to the Bank; but this only eh''
blcs the rich borrowers to pay their debts III oeP'e
cated currency, say rs cents for do'ar an" ''''o
by grow richer by the msiortunes winch nave oee'
brought upon the institution. twenty hVe per o''''
on an operation OF n half an hour IS sooo P''"''
Further Developments show that 'ah"ous" VI"
funds standing in the name and to the cI'd't OF ''c
Treasurer of the U. S. do not exceed $iO'ooo' ye'
that the various dcposites OF the MONIES o' ''o "
States in the names of the Collector, the PensionA-
gent, the Postmaster, and the Commissioners LOT
building Custom House amount to S3oO,Ooo ana
upwards, making an aggregate OF 34OoOo'
We confess we feel more OF pity than OF anger Ut
the violent phpics of the Patriot, when we con-
slider the extreme chagrin and modification such
disclosures are calculated TO produce among the col
Jared gentry who have laborcd necessarily to sus-
a., ,J,o q All in
cy. Gladly would tho Patriot screen from merited
odium the Hon. David Henshaw, late collector OF
the Port Of Boston and with characteristic efiront-
erv declares that "Ar Henshaw had no concern
with this Bank when it failed" Unfortunately for
the Patriot, n meeting Of the Stockholders OF the
Bank was holden but few days since for the purpose
of receiving statement from Dir e. Parks, who
seeks to exororato himself from any liability as
Director at achich meeting Mr. DGrtd HenShaao pre-
s,dei
Blu, the mismanagemont of the Commonwealth
Bank bears no comparison with the frauds of The
Franklin and Lafayette, two deposite Banks which
failed some months since, but whose concerns have
recently been investigated by Committee of the
Massachusetts Legislature. From the report OF that
Committee IN relation to the Franklin it appears
there is hardly provision of the charter which has
not been deliberately and repeatedly violated by the
President Directors and Casher--That fuse bookS
acre hept, and false returns madc and SWORN TO by
IKE President, Directors and Cashier.
The following, which we copy from the Boston
Atlas, will show the part which Government OF
nce holders I.a~o ao.od in ,hcea stumbling 'Poru-
tons. L. o. j. Smith, it will be recoccted is the
Loco Foco member of Congress from the State of
Maine who instituted n against the editor of the
Portland Courier for publishing article mplicnt-
inn hn, onI Oh,
sustain.
1t will be seen from this report, that the Frank |
lin and Laiy banks were linked together in tic
attempt to obtain from the Secretary ofihe Ttcas-
ury portion of the public booty. 1t doubt |
less with view 10 this end, that of the princ-
pal officers in these institutions were selected from
among the immediate connections Of Mr.. Woodbury.. |
MIR. Barnes, the President Of the Lafayette Bank,
and an office holder under governments, and Mr. |
Bunne!I, Cashier of tho Franklin Bank, are both
of tho Secretary OF the Treasury
1t that The two affiliated banks agre ed share
the spells which either might be so fortunate as to
obtain- and that when the franklin finally succec-
ded in lingering 500 600 of the peoples money
which Mr.. Woodbury. (who had been so much
alarmed at its insecurity in tho U. 5. Bank) put
there for Sofe kceping-$20 600 Of the spols was
handed over to the Lafayette, while 500 coo was
returned to the Commonwealth The mode in
which the rest was disposed of may be learned by
reference to the disclosure OF the COMMITTEES
The connection of Mr. f. o. J. Smith with some
of the illegal transactions of the Franklin Bank will
not be gratifying intelligence To his constituents.
Soon after the bank relatives Of the Secretary of the
Treasury permitted to seize upon Il share of
the spoiIs Smith applies for loan OF specie for
tho Westbrook Bank, with the assurance, that as
soon as an examination 0fthc sPccie az his Jank
Shonid be concluded, the quantity Furnished should
be returned. Specie to the amount of $l4000 wa,
furnished to Mr.. Smith, and after the Wesbrook
Bank was in operauon,i it was returned by him.
This kind ofjuggling and evasion may be very
proper in the loco ioce code Of morals but it will
not commend the perpetrators to the confidence of
honest men. After the specie returned, Smith
seems to have resored duc book 0peroti0n-
condIng directly with the managers of the Frank
lin Bank in its direct violation of the laws of tho
State.
The corruption Of the Franklin and Lafayo
Banks present glazing instance of the venality and
proiiigacy of the men who removed the public
money from The depository where the laws Of the
land had placedit. Their motive was plumber, and
their means was violence. Here is the Secretary
of the Treasury hmself-ihe chief instigator of The
war on the U. s. Banl-the advocate and defender