Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1839-01-10

made for the more distant public dis
bursements in he notes Of the bonk."-
| The Secretary is wholly silent as to any
such arrangements. He will, doubt
less, be glad OF the opportunity pro
| pose 10 afford him Of explaining thes,
discrepancies and omissions and of show
ing on which side the error or fault lies
At all events, these transaction
| should be thoroughly and distinctly un
ders!ood bv the country. The characteI
of the government and the public inter
ests demand ii. Was the sale of III,
banks bonds, as their conversion int
credits on the books Of the bank hs
been called, simple and naked tranaac
ton of sale, or was il not connected
| with stipulations that the bank should
haze the deposi,e OF the public money
t accruing from them, till they were wan.
lad for actual expenditure; that it should
enjoy also the benefit arising from the
unequal rates Of exchange, in transfer.
ring them TO the points where they
would De required for disbursement: and
that the circulation OF the bank should
be aided and extended by the Govern.
ment by IFS making use OF the notes Of
tie bank in its more distant disburse>
ments Has the bank been made de-
Pository and fiscal agent of the Govern
ment for the sums arising from the sale
Of It's bonds only, or for other sums al
so transferred 10 il from other sources !:
All these are questions to which the
public attention is keenly awakened and
II will be satisfied with nothing short of
O thorough calculation of them If the
hostii,ies SO long existing between the
Government an3 lbe bauk have all OF q
sudde ceased, and their controversies
been happily adjusted, as ise president
teres,ed in knowing on what terms and
by what means, the adjustment has la,
ken place. Is the cessatiots Of hoslisities
an armistice only, or final pacficalion?
Is it treaty of peace, or of both amity
and peace? Is j. an alliance. or con
vention of subsidies: II an alliance, is
it offensive and defensive, or defensive
only? Ii convention of subsidies
which party pays the subsidies, and
which furnishes the contingent of aux.
Hilary troops? IF. finally, the bank"ab
dictates its involuntary power" is it a
total and complete remuneration of its
claims to empire? or does it abdicsie the
throne only that it may oe 1.-The pow
behind the throne, greater than the
throne itself"
! These questions acquire still gravey cha.
| racter and deeper nteres, from the sIgnifi
| cant specu!alions INDUCED on the appear.
ance of MIR. Biddle's letter by certain lead
| ing journals known to he friendly 10 the
bank, and supposed 10 be, more or less, con.
versant with IFS views One of them, CON
mening on the letter Of the president OF tho
bank, says, "ihe bank will, no doubt, in the
| course Of a short time by an insensbIe pro-
cess, become The fiscal agent o The Govern
meEt." Another, with reference 10 the
same letter ,says"i, W i'll I've curious and no,
improbable spectacle if we gee. through the
fundamentally of concurring circUmsian
ces. national bank re established without
! the action OF Congress-" sc. Il nGtinndI
bank established ruithoW The action of Con-
greSs What easier or simpler Than 10 do
il, by The "inscnsibie process" already com
menced I.et The Executive, at its own
| will and pleasure, adopt the Pennsylvania
| Bank OF the United States as the fiscal agent
and depository Of the Government-let il
/ join the weight Of the public revenues to the
!
! Jet il superadd The credit arising from a
connection with the Government TO The ex
! iensive and pervsding operations in which
! iha bank is engaged throughout The Union,
and have you mol national buns re eSfab
/ Hshed 10 all intents and purposes-re- esiab-
/ iishe1 UfthOUt the concurrence Of Congress
/ and in despite OF its authority : Ind " ould il
/ not be 4 National bank OF the most danger.
GUS and worst possible kind? Created by
! the fat of the Executive alDne-alIied with
! the Executive and dependent on the Exc
( cuti"e-wiihout any Of those guards and Sc
/ curiiles against abuse which the Legislative
! authority would proyidc-no committee oil
/ Congress 10 Examine and report on lie con
/ ditl0O and proceedings-"the secrets Of ia
I prison house" open Ia no eye but it's own
and ito relations with lis political patron and
! ally screened from oil knowledge but thai
OF the high contracting parties themselves
! The Imagination Of man cannot conceive
! more perfect and fearful personiIicoIion o
/ that concentrated rncueyed pow ct" wheel
! the President speaks Of in bis Message, no
! tempted merely, but compelled, 10y iht
+ law Of lis being, ''to become an active a
( gent in political alfairs." O6.ta princjpii
il The admCrition Of wisdom in all huDa,
concerns; and now that the 'insensIhle pro
cess" is just begun, which, if aot arrested
may terminate IN d CnnneXiOn 80 dsngerou
and fatal between this powerful institution
and the Executive, come forward, and, a
was done or the occasion OF another memo
rable coalition in another country, in III
name of my country, ! forbid tie buns
But have still another and more eXten
sive object, Mr.. President, in moving th
I resolutions on your table I desire to show