Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-11-15

cans Bank League 6tiiei-and that consequently he
has changed his opinion OF its fitness as n financial
agent. But its failure an evidence OF its - dan
eerous power Was it not rather an exemplifca-
lion of its weakness-that weakness which foie-
told BY Mr.. Clay, When, on its adoption by Gen.
Jackson, he compared ii 10 fleet of gun boats tied
together with grape vine, which might move on
smoothly in a calm sea, but which would inevitably
he cast, scattered wreck upon the shore. when
ever storm should sweep across the waters
Admitting, however. that this Bank league, in
connection with the government, would prove so
dangerous, respectfully ask, il that connection
he dissolved, and a Snb-Treasury be established,
what becomes of this dangerous power Is it an
,,,a,ed Certainly not. 1t is only transferred
And into whose hands Why, assuredly into the
hands of the President or, what is the same thiag
,n,o the hands of officers, whom he may remove, al
his own sovereign will and pleasure. WeIl-il this
dangerous power be transferred to the President
will it not become more dangerous when allied TO
the already overgrown power OF the Presidential
office, which, through its patronage, has than
once succeeded in controlling the decisions oil Con-
eress and in making members of that body disregard
the known will of their constituents Here lies
the great danger-in The augmentation Of Erecutife
influence which will be indefinitely swelled by this
Sub-Treasury scheme Capt. Coles's opinion to The
contrary notwithstanding
We were amused howcver,to hear the Captain DIS
claim all hostility 10 Banks, even after he had drawn
the most frightlul picture Of their pcrnIcIous inin-
.nce Really if regarded these a." Monsters IN
the same light that he does, we would make per
,etuaI war upon them, and never rest, until every
ves,ye Of these privileged associations was swept
from, tl,e land or at least until had done all III
an, mower to effect their destruction. But we for
oct, II is not to the Banks. as Banks that Capt.
Coles is opposed but only to their connection with
The government They only become dangerous
when the government, like ptuden, individuals, de
posites its funds in their vaults, and employs them
TO transfer those funds from the points of collection
10 the places of disbursement, and receives and pas
ses out their notes. But let the government put lis
money in its own safes and vaults" take nothing
hut specie for ns dues, and transfer it either IN kegs,
or by individual drafts, from point 10 point aud then,
az if by enchantmen,. the danger vanishes, and
Banks are Monsters, with their teeth drawn. Re
alIy il seems to that the idea OF rendering Banks
harmless. il they be indeed the dangerous things that
Can't Coles desc RIDES them, by such means, is also
iuely ludorous
Bul we have neither time room TO follow oct
the argument. Two Subjects however, touched IN
the discussion, must be noticed
The first Of these is |" Blddc and the Bank
which Capt Coles, well knowing the power OF Pr'ju
dice could not entirely overlook. Capt. Wncher
well replied to this aluson, that the ianh oi winch
Nicholas Biddlc is President is Sidtc BdHh, char
tered by the Legislature OF Pcunsy lvania IN the
exercise Of her sovereis and uudsputed right-and
Lence that it was highly improI Ell IN the citizens o
e,her STATES TO condemn her act, 10 Willy an in
stitution to which she has given existence lie
showed that the attacks of the AboIitionsts upon
the institution Of Slavery rested upon precisely the
same grounds & might be deicndedb the same argu
,neprs They admit the right of Vlrginlato tolerate
Slavery their duty under the constitutional abstain
from all interference with the subect-but yet they
doinerlcre with us So we admit the right e Penn
sylyania TO charter the L. s. Bank yet portion
OF our people, lanatical that subject as the Abo
lnonsts are with regard to Slavery, are continually
denouacing the Bank, aud charging the Legislature
U Pennsyl vana with corruption in char;erlng 1t =
What right have to complain that the citizens OF
other States attack institutions, if we attack
thers1 We hope thai this question may be delbe-
raely pondered by the people.
The other subject which wish to refer is
the charge against Capt. Coles, Of having mulllated
a public document, previously to fra"hin2 ito his
constituents and the truth of which charge the Captain
admits. This document consisted Of the Reports of
the majority and OF the minority of the committee
of WAYS and Means, ON the Sub-Treasury ques-
lion. which the House of Representatives ordered
to be printed in connection and which were so
printed: Capt. Coles cut off the minority Report,
aud sent the other, advocating the Subj treasury,
Coles offers for this act, Is, that the portion
1opped off contained Federal docrinc-ar excuse
certainly more insulting to the people than the act
itself, since implies want OF confidence III their IN
iegence TO discriminate between truth and error
We had thought that it part Of the Demo
cratic creed to trust every thing the virtue and
intelligence of the people; at least they say so.
But acts speak louder than words and this is not
the only instance in which the grosest 1utery of
the people has received striking commentary in the
most manifest dstrus of their aggregate wisdom !
Besides this reluctance of Capt. Coles to scndforh
this document unmutilated, -Conianiug the argu
'ncns of lis strongest men in favor OF the Sub-lrea
sury scheme, and OF the opposing arguments against
IT. shows thai lie has not entire confidence h nsell IN
the propriey of that measure, at least of the rca
sons by which it is sustained and that lie feared 10
lei his constituents see how runphanty those ar
numents were ed and The Miscellaneous charac