Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1838-04-05

,egan to wither under that veto. II destroy
ID the domestic and foreign exchanges Oh
he country, and deprived the people of the
means Of paying their contracts and debts Ior
.ho want of q currency and exchange. We
were ordered to make our full tale OF br'cks'
md our straw was taken from US. lwilI ask
vou what country ever had q better currency
than we had before General Jackson med
died with il by destroying that Bank SIR
look back for tho last twenty years, or rom
1915 when this Bank was chartered, and you
will see that wo enjoyed an uninterrupted
state of prosperity-our currency good-our
exchanges, from one end ofour wide ex's"o'
ed country to the other, convenient and low
tho credit and character of that Bank high all
over the world-and during the existence OF
TINT Rank a sound currency throughout the
country. It not only supported its own cred
il n, home and abroad, but it acted as regu-
lator and balance wheel to all the S'a'o
Ranks /: and as soon as that Bank was DO
stroyed. YOU destroyed that great balance
wheel which regulated the whole banking
system Of our country, and oil the minor ma
chinery run into disorder. We were 'o'u az
the time by General Jackson and Thomas H.
Donton g. Co., who were trying the cSper''
ment of making water run up hill Ma me
public money ,cas not safe in that Bank! now
sir. will ask you, if you believe that 'hey
,bouoht so, when they well knew, that Tor the
last twenty years the Government haa 10.
Ios, , cont. and that the Bank had transferred
the public money to such places, and ut such
times. as the wants Of the Government re-
ouircd, free of expense. TO shew you Tho
soundness Of that Bank, which was mol sqfeto
keep the public money in, it has PAID ''''s
Government the amount Of their stock at the
rate of SlIs for every Sl0Opaid by the Gov
ernmcnt; besides, the Government has re-
ceivcd from 2 to 8 per cent dividends, annu'
ally, for the past twenty years. Now SIR
This is the bank which has been cried down
by General Jackson and Benton a. Co, as
not safe depositary for the Government
money Sir how will it compare with the
Loco Foco Pet, the Commonwealth Bank ~
Boston, and many others of the same stamp!
Sir, when the State Banks were selected
as Government dcpositaries, the question
asked was not whether they were sound and
safe banks, and whether their directors and
managers were men Of property and chorac'
ter, &C.; but whether they were managed by
influential Loco Foco Jackson men Sir,
what has been the result of putting the mon
ey of the Government into these favored pet
banks--many of them got up for the express
purpose by those Loco Foco Government
men, (holding many of them high Offices un.
der Govcrnmcnt,) Of getting held OF the
Government cpostes-many, if not most OF
them, also without any capital stock paid in
except stock notes-what has been the re-
suit, say, but that tho Government has been
swindled out of the peoples money to the
amount of many millions? Sir, have we re.
ceived what we were promised in lieu Of tho
United States Bank currency? We were
promised gold and silver circulating medium
of exchange /; and so sure Of this were i. II.
Benton and his set, that they carried to their
seats their pockets full of gold, and shook It
before the faces of those champions Of tho
Constitution and their country's liberty, who
stood forward on sound Constitutional
grounds to ward of those detestable moas-
urcs, which would crush and break down this
happy and prosperous people. Such men
we're Webster, Clay, Southard, and many 9TH
crs, who nre still firm at their posts; and
their speeches will be read with pride and
\ pleasure by thousands yet unborn, who will
feel proud to call themselves citizens OF that
country which gave such men birth (; while
Benton, Calhoun and their fellow lnborers in
iniquity, will go down TO postcrity with scorn
and contempt
Il We are told that there must be diporce Of
the Government from oil banks that the
/ Government must haze SPECIE, and the people
PAPER Now, sir, how is the business of
this great and rich country to be carried OH
by local bank paper, without any national
currency to regulate the exchanges Of the
country What has been the course and
language of the Governmont' 1t hos been
to cry down all banks and credit, and destroy
confidence. General Jackson said-"no man
ough 10 trade on boro,Oed capital, and all that
do so hade ought TO break" Sir, will ask
you what has made this country what it is
but CREDIT AND CoNFiDENcE Destroy
them, and you destroy the prosperity Of your
country.
Sir, it is natural to ask what is to be done
to get the business of the country out of this
dsgraceful and embarrassed state The
answer is ready. Dismiss all those moon.
shine projects of Sub Treasury humbugs and
specie circulars, and go back to the good old
times Of q chartered United States Bank
Give the people national currency, such as
we had before that Bank was destroyed, aud
you will soon sec sound state of business
returning and tho country prosperous and
happy. For one, fear those happy days