Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1839-01-01


hs 10 dI-stntd ahd thditr'cl and srcts reform, ard
vhy 'tscausr b. bias obs med coup etc etafy end
rsff cd Through go be- OBJECTS
To teils % t.st 10 bought the bonds and paid tat
them 100 bauk rash.-in ptnucntafy paprr % Il had
here been called. TIE rags OF iusn'tcnt 'ns'iu-
uon a. Memorable Senators have here called 1t Mr. Be
de states 10 that be paid Tie government BY CIV ng
Il an open ctrd1 on his books
Mr. alluded 60 several Discrepancies between The
'slsm.ns Of the Secretary Of tae Treasury aud those
81 NJ BidIie
The Secretary gives us 70 understand that he has put
this money special d-posc the hauk bot the Pre-.
sden tells that Il an open credit The books
of the bank |. ths te thing with special de.
poste The country would b. satisfied without an
explanation Of this subject Every thing now appeared
as f acompacta coalition had been mad, hrtm The
Govrfutnt nj aud the Bank.
L. At an arm'stice peace lshou alliance or
convention ui subsid,s' u II Is an alliance. rs i one
defensive, offensive or 10th It 1t aoonycnton
Of fuhsd-F. from which party were To- come the sup
pies lhrs" were questions Whch uiit cited the dignity
oi the county snd tie interests Of the whole people.
Nauou'l Bank was attempted in this manner TO be
imp0srd upon Us by the Government, bank not re-
spon-''e 'n U.s. bot undrr exclusive executive control
bank hose vaults and books 10 be open ouiF TO the
high contracting parties thcmssi bank, too, which
was found by tie very nature ci ns compact with the
Government TO act pairsal engine Such WE the
alliance thus snugli 10 be made la he name Of my
country, said Mr. Riyes forbid the bans,
Mr. ltiVrs also remarked upon the unauthorized use
made by :,e government Of other state Banks There
were sixteen IN which said special deppsltcs
". notwithstanding oil the honits which The Prssi-
dent aud Secretary preached 10 against the use Of
bahss Ihty used them themselves without authority Of
law.
What did all this mean Why that they wanted
connection with Banks bat, Executive agents, under
Executive conttol. They wished 10 employ them and
dismiss them at pleasure. The Sub-Treasuty not
tended 90 be used The four Receivers General and
the hundreds Of Subj rcHsutrrs, 90 be kept only
for show Tor Executive patronage. The President
anu Secretary were convinced Of the utility of Banks.
he Secretary admits their greater safety Than person
al custody and that from them the Government may be
secure If eventual payment" But how is 'evenual
payment 10 be got from your Sub Ireasutrs ho seek
refuge under foreign governments leaving nothing but
their gorgeous urnlture- indeed HAT be not secured
TO some iayorite creditor,
Sir tins show Of the Sub Treasury is only kent upas
party ralyiug point 1t Was never intended to make
any practical use Of it, The country has condemned IT,
aud the President and the Secretary have abandoned IT,
Sir, say II is practically dead aud buried
In regard 10 the great point Of comparative safety of
rsonnl custody and that Of Bunk, say that the Pre-
sldeni sufre1drts the question. When the President
makes the extraordinary and unconstitutional proposi-
ton that Congress shall debose aud hunae Themselves
as high, co ordinate b anoh Of the Government. by
sending lis members 10 watch these sub Teasutrrs and
report han. he surrendcrs the question of the safety
or practclhly of Sub Treasures trust in God de.
based as the Legislative branch of the Goyerne nj has
btcone and serVe as IT has been 10 the Executive that
shaii mol live to witness this degradation OF Congress
pu Hhat an admission Is this Of the hazard OF trusting
to sub Treasures The bloody code liz proposed -
lnfdeiy, on the par, Of these officers to be made fell
ony, but even this will not do
Congress must send its Committee over the country
personally to watch them, and then make their repo, 10
"hom to Congress no,-to the PYosidcnt Sir
whe we see even the army and the high profession Of
The law, yielding to the fatal temptation of the Sab.
treasury system, how strongly ought TO be cundern.
hed regard those deialcatIons disgrace ll az they
are to the country, providenlia s-furnsbng
10 US timely warning against the adoption of sys
ten which would be more cortup ing and domorai-.
ing IN It's fleets upon the people than any thing which
the wit Of man or deyi! could devise
Can We not Mr. President devote this one session 10
our country giving up for time, all party rashness
and suggies Can we not unite to heal the wounds of
our country Can not settle tins great question Of
the finances The National Bank in the opinion Of
all PHeHcaI men Is out OF the question This subrea
snry system Is secuted and repudiaed every where
Then, SIR we must come to the STATE Banks Shall we
regulate the mode of employing these State Banks or
shall We leave II TO the Executive alone = Shall we
leave tins thing Ia Executive discretion or put the
pubic moneys under The safeguard of the law
Mr. Wight said lie very glad the gentleman froto
Virginia had become Of The mischicfs of con.
hehion between the Government and the Bank He
was pleased with the genemans remarks ON This da
getous alliance so far those remarks were connected
with fact and he was only sorry that the pentleman
did not wait ill we had got the facts fc wholly dis
approved OF any connexion between the Bank and the
Government, and he was glad the gentle had oppo.
sed the resolution. He however, without havin, nnv
Other information than open 10 all had supuospd
that the early connection between the Bank and the Go
4 bonds
lie supposed that these bonds we're sold 10 inc Rank
because no other purchaser could be- found Tn. sen
ileman had referred TO the Presidents recommendation
to Congress 10 appoint a committee 10 investigate M.
condition OF the repositories. Was il candid an IN
pa; oil The gentleman, 10 represent that this r.nort
10 be made To the Presdent; The only y,irnos. Of M
report TO the President, he Understood ,he p,ess,
was to enable the President dismiss The defa,,ng Of
hoer but the report also 10 b. made "a Crr.
lie would not have been surprised al the r,u,l,H.t
speech had II come from Of the Opposition bu b
did not understand how j, could come from ono nh
party proi'shed TO sustain the position of an oyi
neutrality II the gentemsu was now An EARNED n
tal,' he did not understand the term
MIR Rives replis that, when he had be,s,oc,,o 80.
ken # the Bank. he had spoken Of il as Lug ,
! up for party effect. NutgIthstsnJiu, ne nds,tf
hostility to that institution he had been r, r,.,d -
one OF ne friends Ina his plan for eutlpyin,r S.,
Banks, II wac OBJECTED that Il would throw, nos,, ,
the hands Of The Bank Of the q. T. II. n, R,..I
treated thus suggestion bugtear He bslisve6 ,b
40 The sincerity Of the Pfeudrnts profession lie co5
not believe, what h- nov saw Thai the tovero,,n,
would OF lis own accord seek ar alliance win tb RI
lie ~ss repfoached IN bis own state with ma yio,,a
the hanes OF The Bank, merely heeaas- br o,,sg :
Plan Tor employing State Bauks which II va. }o,,ab,
might be 10 the benefit Of the Blnk So
~ !" no r. 70 the President and biz n,f,, H..
Senator tom New yoik knew Them better tasa H. DID
PtThnPs Dat sf you'd have the Senator "a ,,.,s,
sand Hat en not responsible TO the Pf..ig.,t , =,