The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-07-18
THE BONDS OF THE UNITED STATES
RANK.

NJ
For many months past, the organ Of the
Government has presented the anomaly Of
laboring to decry and destroy public conf
dence in an institution in which those who adj
minister the Government hold, as agents for
the people, between six and seven million Of
dollars Of its obligations.
To CRAFTY the personal spleen and yindic-
tive rancour of few individuals towards Mr..
Biddle and the institution over which those
interested in it, have elected him to preside,
these worthy patriots would sacrifice millions
of the peoples TREASURED Suppose they could
have succeeded in their evil design that Of
breaking down the Bank Of the United States
could that bank have paid the debt owing to
the people, in the hands Of the Government
Surely not Then who can fail to realize the
diabolical spirit with which those who have
been thus engaged are actuated
But this is not all. Here has been direct
assault upon the rights Of a sovereign State.
The official organ Of the National Govern
ment has been the channel through which
those attacks against State institution have
been Illuminated.
We were as hostile TO the United States
Bank, when it was National institution, as
any one but when that charter had expired,
and it acquired a charter from the authorities
of a State, we viewed it simply as one Of the
institutions Of that State, which owed allegi.
ance to her, and which she was bound 10 pro-
tect: Therefore, we look upon every attack
that has been made upon Mr.. Biddle's Bank,
las it is called,) or any other State Bank,
through the columns of the official organ, as
an insult offered to the States that chartered
them, under the sanction of the administra-
ton.
Now, as to the Bonds Of the Bank Of the
United States, which Congress has given au-
thority to convert by sale into money in anti
cipation of their falling due. We understand
there are two bonds of something over two
million dollars each, and some interest that has
accrued since their date to be added thereto.
The act Of Congress provides that they shall
not be sold atlcss than.par and the interest that
shall have accrued.
| II is said that the Secretary Of the Treasury
is already in the market, inquiring what can
be done with them. Who willpurchase these
bonds from the Government, issued by an in
stituton which those who administer the Go.
vernment and their organ, have been striving
| to break down, and within the last week have
declared to be bankrupt! We apprehend no
one will. We have no overgrown capitalists
Of one Of them were they 50 disposed. That
any Of the moneyed institutions Of the country
will have anything whatever to do with them,
we do not believe. In the first place, our
banks were Incorporated for the purpose of
granting facilities to commerce. All such as
thus will be able TO extend, after they shall
have resumed specie payments, will undoubt-
edly be wanted. Then, again, where is bank
that would become so serpile as to assist those
who have strived to cast odium upon them; to
degrade, disgrace, and finally to break them
down. A complete separation Of Bank and
State, has been, and still is, their motto.
What bank is to be found, in the country, that
would disgrace itself SO much as to give the
least assistance to those who have employed
the influence Of their official stations, and all
the power connected with them, for the avow-
ed object of destroying them! Ifsuch an one
shall be found, we trust the stockholders will
seize the first opportunity to dismiss from their
confidence and employment, every officer and
director that might thus prostitute the means
entrusted to their management
The war is to be continued against the
Banks and Merchants by those who hold to
the declaration made by the "noble Chief"
that both are "DEvoIp OF PATRIorIsM."-