Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1838-01-26


voUcHED FOR Mr. WooDBURy's iNTEoRIT
AND ABILITY, AND ALL ATTEMPT At IN
vEsTIoATIoN WAS DENOUNCED AS AN IssU
WITH THE HERO OF New ORLEANS. Ii
quiry was repelled- was ba
ded--the just demands Of the public wer
evaded or treated with conlumely and neg
lect. Mr. Woodbury. knew that the system
must explode, and he was afraid TO let tn
public know it.
One Of the circumstances made public b.
the explosion Of the Boston pet bank is tn
fact, THAT SIX OF THE IMMEDIATE
FRIENDS OF THE ADMINiSTRA
TON IN NEW ENGLAND, NAME
LY,--JOHN X. SIMPSON, HALL
HOW, CHARLES HOOD, S. S. LEW
is WILLIAM PARMENTER, AMI
ISAAC HILL ARE COLLECTIVE
LY INDEBTED TO THE COMMON
WEALTH BANK IN A SUM Elk.
CEEDING THE WHOLE AMOUNT
OF IT'S CAPITAL OF S500,000
Let il be borne in mind that these tremen-
dous abuses and corruptions have been per
petrated and countenanced by men professedly
hostile 10 the credi, system. Had they not
been manfestly laboring for their own ag-
grand:zement without regard to popular in.
teresls, we might almost believe that they
had originated and provoked these abuses
and corruptons merely 10 prejudice the pub
lie mind against the system TO which they
were opposed We do not doubt that the
Globe will pretend 10 urge this fragrant in
stance as an argument against well conduct
ed banks Fortunately, the facts in connec-
ton with the affair are too notorious and too
he, fltrnn la m nn.a
but the administration, which originated the
PLUMBER system.
Who originally selected the Pets as places
Of deposite for the public money! The Err
ecutire.
Who vouched for their solvency, and guar
IN led the safety of the public funds2 The
Executive.
Who opposed all investigation into the
condition Of the public revenue, and the con-
neciion of the Deposit Banks with the Treas
ury2 The Executive.
Who was the father and patron of the
whole scheme-from the first theft of The
public moneys-down 10 the final explosion
of the Pet Bank system, and the ignomin-
ious failure of the Commonwealth Bank Of
Boston2 The Erecutire.
Who denounced the system as wholly I'M
safe, unsound, corrupt aud rotten at the out
set2 The Wigs.
Who told the people that their money was
in the hands of sci of handful, who would
son convert it into unavailable funds" thro
the instrumentality of the pet banks2 The
Whigs.
On whom ought all the responsibility Of
the selection of depositorios-their treache-
~ and mismanagemen,--the squandering of
the public money-the explosion Of the Pet
Bank of New England and the consequent
loss TO the community, to rest2 The EXEC.
UTIvE.
Let any one read the labored reports OF
Mr. Woodbury., in which he attempts to re-
flute the objections of Adams, Clay, Webster,
Binney and Calhoun TO the pet banks-to
show that the government would never lose
any thing by employing them-and to prove
their entire competency to furnish "better
system of exchange, more sound, uniform,
safe q and convenient currency" -and their
ability to answer all the fiscal purposes Of
the Treasury and of Commerce-and then
say on whom the responsibility of their ex.
plosion should rest-on whom, but the Ex
eculive and his supporters
IL the CdidtlticS tudt uOW OppteSS tue peO-
pie had not opened their eyes to the miscon-
duct of their public servants, then would
they be deservedly abused and plundered-
The retrenchment of the administration has
trebed and quadrupled our annual expenses;
and their improvement OF the circulating
medium has destroyed the best and soundest
currency that any nation ever possessed
and has given Us in exchange for million on
millions Of acres of the public domain
nothing but reams Of paper and bushels of
rags!
BY those who instigated General Jackson
10 the prosecution of that scheme of plumber
and ssurpation, Of which the explosion of
the Commonwealth Bank is one of the de- |
velopments, the Hero of New Orleans has
been almost apothesized as the second Wash
ington--,he second saviour OF his country
The saviour of his country Let her pros
trated commeroe-her desolated marts of bu-
SinesS-her ruined currency-her bankrupt
sreaSury-her labor unemptOyed-he loss,
the distress, the despoadeacy The despair, |
Yerrading The community-aH the legitimate
fruits ofMe Erperiment-bea tcitness 10 tile
meriLed distinction