Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1838-04-12
lrrcm the New York Commercial Advertiser
LETTER NO. 2.
To Martin Van BUrcn,
PRESIDENT OF THE U. srATEs,

you VIII take retrospect OF thote truly pros !
porous times, which Immediately preceded
your accession TO the second Office in the gift
Of the people, and which had, for 90 many
years previous, blessed this country.
You went into that high place, sir, under
rs beautiful sky as ever beamed down its
light upon free people. There was no.
A wide spread commerce was forcing its en-
terprise beyond points hitherto reached by it;
and, drawing from remote marts its enriching
treasures, was pouring them, almost without
measure, into the lap Of our Then prosperous
and happy country. Manufactures were in
full and successful operation, and were de-
monstratng that we are " a world within our
selves" In whatever they worked, whether
in wool or cotton, in wood or iron, in brass,
or silver, or gold, or in furs aud peltries
such was their perfection as TO bear honora
bic comparison with the products of the old
world, aud in some things excel them. The
mechanic arts were fonrishing, and chsllcng-
ing the universal admiration, while labor wore
the smile Of contentment which never fails to
attend upcn constant and profitable employ
ment and punctual rewards. The finances
Of the Government were in n most prosperous
condition, and, sir, the great fiscal instrument,
upon the right action Of which all these
heallhful, and cnrching, and cnnobling en-
ploymen IS were dependent, was working with
a ID rmon y so perfect, that not jar was felt
from Que extreme of the country to the other.
IL gave to the people circulating medium,
which, for equality, and security, and general
usefulness, was equallcd only by the conf
dence that the whole country felt in il. And
you found "the Government" rs it became
afterward fashionable to call it, rcposipg in
The most perfect security, as regarded the
safety Of it, revenues, and confdng in the
skill, aud just and honorable action Of the
fiscal instrument, by which, since its creation.
not only had the people not lost cent, bu,
whose promptncss met, every where, on the
moment, the demands Of the Government,
under all It's variety of disbursements, TO the
most perfect satisfaction of all conc ssned,
whether in the new or the old world
Suppose, sir, point out to you some fthc
testimony Of your own cabinet, on this part Of
The subject 1t is true, you and your party
have subsequently treated your own testimo.
ny with such contempt, that were stranger
10 compare the two divisions Of your action
upon each, the one governed by your first,
and the other by your last opinions and doings,
lie would not be able TO reconcile your con-
tradictons-unless, indeed, it had been his
in which knavery, operated upon by political
" rewards" governed he might then COM
prchend tho case, but not else.
You will bear in mind, sir, and so hope
the people will, that the testimony | am going
10 adduce is your own. Upon the value OF
that financial instrument, and its great utility
10 the fiscal operations Of the government,
FIR. Ingham, your then Secretary ofthe Trca-
sury, in letter the President of the Bank OF
the United States, thus writes -" am fully
sensible Of the disposition of the bank to at
fnrd all practicable facility TO the fiscal ope-
rations Of the government, and the offers
contained in your letter, with that view, are
duly appreciated" Again, thirteen days
nfter, he thus writes 10 the same officer -
cannot conclude this communication with
out expressing the satisfaction Of the depart
ment, at the arrangement which the bank has
made for cifecting these payments, in man
ncr SD accommodating TO the Treasury, and
80 little embarrassing to the community
And again, in twenty-five days after this,
thus -" take the occasion 10 express the
general satisfaction Of the Treasury Depart.
uncut. at the ina nncr in which the President
and Directors of the parent bank have dis
charged these trusts, IN all their immediate
relations TO the government, &c, and espe-
cially to the facilities afforded in transferring
the funds of the government. and in the pre-
paration for the heavy payment OF the public
debt on the first inst, l :" which has been
effected by means Of the prudent arrange
ment Of your board, at time of severe de.
preston OH all the productive cmploymen,s
=. of the country, without causing any sensible
addition to the pressure, or even visible effect
upon the ordinary operations of the state
banks" Now, sir, ] assume this, coming
from your organ, the Secretary of the I'rca.
snry, to be your own testimony. lie was
your associate in council and in action.
You will see in this testimony, and SO will
the public, two distinct points.
LIST. The great value OF the Bank TO the
Government.
for the testimony upon this point is, that,
n, a time Of I" severe PRESSURE" 40 (deprcss.
ing) effect upon the state banks was visible !
shall now adduce your personal tcstimo-
nv, to prove your own opinion uDon its 1.-THE
bank's) agency in promoting "the interest" OF
the citizens. ] rely for this, upon an extract
from your own letter to the President of the
Bank, in which you say, when you became
the organ of the citizens Of Albany who pc
titioned for branch Of the United States
Bank for that city, (I p The sole object Of
my agency is, to gratify the wishes of our
citizens, and to promote the interests Of the
city," These you sought to lave promoted
by the agency Of the Bank This is high
eulogy.
presume none of oil this will be pronoun-
eed forgery. You, sir, know it to be all
true.
And what, no,c, ask, is the condition OF
this country,upon the administration of whose
affairs you entered under auspices 30 pros.
porous and happy My reason for connect
ing You with tbs administration Of it's affairs,
is two-fold, and will be considered concu-
sivc
lst. You (if you did not originate the
changes acquiesced in the new policy. 3D..
Are publicly pledged to carry it out. My
reason for asserting this is two-fold-frst II
you had opposed them, you never would have
been selected as "ths honored instrument -
nor as The successor your chef-nor would
you, 2d-havc, after you saw the numerous
effects of the measures that bore your prede-
cessor's name, have publicly announced your
intention, "geneially, to tread in his foot
steps"
therefore ask, what is the present cond-
tion Of the country, upon the administration
of whose affairs you entered under auspices