Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1838-12-13

amount of specie in the country previous
to 1881, affords valuable Illustration
of the true policy of the Government
ment in such a crisis. Nor can the
comparison fail to remove the impression
that national bank 81 necessary IN such
emergencies. Not only were specie payments
resumed without its aid, but exchanges
have also been more rapidly restored than
when il existed, thereby showing that rr-
vate capital, enterprise, and prudence are
fully adequate to these ends On all these
points experie nee seems to have confirmed
The views heretofore submitted to Congress.
We have been saved the modification OF
seeing the distresses of the community for
,hc third time seized on to lasten upon the
country so dangerous an Institution and we
also hope that the business OF individuals
Mill hereafter be believed frem the injurious
effects OF continued agitation of that dis
surbing subject The limited influence oi
national bank in averting arrangement IN
the exchanges of the county, or III com
uelling the resumpt ion of specie payments
is now not less apparent than its tendency
to increase inordnate speculation by sud-
den expansion and coniractions its tiispo-
siton to create panic and embarrassment for
the romotion of its own designs f.; its in
reference with politics; and its far greater
power for evil than for good, either in re-
gard u the local institutions or the opera
tions of Government itself. What was IN
these respects but apprehension or opinion
when a national bank was first established,
now stands confirmed by humiliating expe-
v;ence The scenes through which we have
1901 ,onnl,,s;velv nrove how little our
;,j,,,r ,n,nuf,ct,,es or
Co""o'eo' % ..... -
finances, require such an INSTITUTION ana
what dangers are attendant on lis power
.hp A,,a.;.an nao,Je n,o, their Cavern
IL -. ;l;,;d,,.I. not
sneht, ana stil Tess upon i"uN'uu"'' ~
responsible to them Tor lis unavoidable
abuses
c,,:,
IVY conse'lon % IL, W." s,rs san, and disbursement
tive provisions Tor the sale keeping ana
OF the public moneys and my OPINION II, ,esuiu ~
the measures best adapled 10 inc ="
those objects, nave been a,ready suou'eu ~ yo"
These nave been strengthened ny ieoe"s ,,,.,
and, IN the conVict,on 'na' tiie anu 90 i'..'
SUI, demonstrate .nen paop', ,h s;otir y;e,vs IF
wuh respectful oe'erehce ~ .'e oonn'os
others, again TO invite your a,ien'oh 10 ','eui :.
With the exception OF nineo suns uepo e,oae
the lew banks still employed ohoer INC ~, y. =,
the amounts received ior duues' anu WIN pe,y ~
conscerate exceptions .hos1 uoo'ums If or snec;e
".so, ,as1 he denosta hanks bean kent and dis
payments py 'ne uepo. -, D S: ~ lan,,
ourseo ny INC ~ Observation-Disclosures nT the sec
powers suo)e u ~ nc he nronrie,v of defining
rerary OF Inc or reanla,;ng Inv law. the ex-
more suPerne;J SOMA Of Eyecutve discretion, has
1'cise oi '', us aLn,;t,ad IN Congress-
oeeu a'e"uJ n..,ou or one If our
change IN ,ne oilloe y. eo III = deGlcaton of
principal por,s haS o'ous". " Of which. will
the grayes charactei' 'ne ..nort from the Sec
be land before you ~ r., hi. renor, sns the ac
rotary Oh Inc reasuy :, ;ylI be seen that the
companymg oooe ~ Sac.,,,,n, officer apparently
weekly returns OF lhe ca'aS3,,, adn;,;stra,;on Of
exhibited throughout, 'a II bowev-
the affairs intrusted 70 us "hsr.c,;na tho
or, now appears tna' ne ~: ,,"nt,,,art and
public moneys shoiuy a.o, incrcas;ng the
continued 10 40 so' p'os. H. souan va,rs em.
amount, Tor the 'erci, VI NV: h;ch Tho nrh
bracing portion oi ''e Is, or,ho Hated
Ic moneys were oePuseo r.,.a c. pori, Jonos;te
States, the whole Oh tna' VI ''ie 60,
system, and concluding ony ~ ,..,,,;ar,.c,;,oa i;
office, alter that system hau '': 49,,
consequence of the suspension o. speo'e pay 1
Tbs way IN winch thls oeia'oa'''n We ~ IT,
concealed, and Inc Steps ,ahen " n.ue' III -,
ted States, as tar as prac,cao'e "
be presented to you ne oase S oue and Far.
atively claims Inc a''en'ion u S ~
nishes the rtrongest mouVe ~. .'1 49, sac, non
more severe ana secure syse e. ~ ,h,n oav
ing and disbursement Oh .ne puoN' ''0"'' '"N' ''
thathas heretofore eAs'eu' ,b,, h., an early
II seems proper, a' an ere"t , -, =! -,
enactment, similar 10 'na' Oh olne, cfas p
plcaon oil pubic money by u" o','oe' e. "id
In