Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1839-08-16
VOL. XUI-.NO. G3A
TIE BANK REFORM HUMBUG OF
THE VAN buren, PRESS.

THE VAN BUREN, PRESS.
No charge is moro utterly false than that
which declares he Wing party TO be oppo-
sed to judcous reform in our Banking
system. In proof of this it is alleged that
the Wings in The last Legislature opposed
sundry propositions respecting the matter.
This is true SO far Us his, tia, some Of the
| wing members were for. and hers against
| these propositions and so of the Van Blu
rem members. Blu; why are other facts
respecting The matter so s'udionslv con-
ccaled? Let them be examined briefly.
The Wings are no more responsible for
! the existence Of our Banks than arc the
Van Buren party. u was never made
party question. G.. p. Van Ness and other
leading men Of that party first started
them. And within the last eight years
many Wings have opposed the multipllca-
ton OF Banks: among whom may be mem
toned Mr.. Adams of Grand Isle, Jealous
and intelligent Wing.
In the last Legislature, with majority
OF so for the Wings, every Bank bill was
| defeated. except that recharterlng the
Bank of Montpelier. And IN this bill new
! anu important resIricilons were, by the
wing Committee of the House Of Repre-
sentatlves, imposed on the Corporation.
| And pray. who voted for this bill; OF the
Van Buren, members from Washington
coun'y, Messrs. Averill Of Northield,
Dillingham; Of Waterbury, Richardson of
Wa'stieId, Samson of Roxbury, and
Wheeler of Montpelier, 5. voted for the
bill; voted against i'--2 were absent.
probably accidentally. On the passage of
the bill to re- charter The Bank of Caledo-
MIA only t,co of the Van Buren, members
from that county voted in the negative.
About 80 Wings voted for the amcnd>
ments making the private property of the
stockholders of Banks liable Some Van
Buren, members voted against them. But
the grounds taken by some of the Wings
who opposed them were. that the amend
mens proposed were imperfect and i'm.
practicable in their terms. Others opposed
them for the additional reasons that tho
proposed alteration was premature. They
urged that other States were trying the
experiment and it was the dictate of pru.
dence TO wait for the result Of their trial
that the Banks IN Michigan, in particular,
which were formed on :he principle of the
amendment, were already the most inse
cure and corrupt Banks IN the country
Others conlended that the proposed reform
would concentrate Bank capital in the
hands of few, because farmers and per.
sons of small capital wonlG not incur the
hazard; and that thus the checks upon
speculation would be removed, OF rather
strong temptations to it would be present.
ec. while the security would easily be rem
f Cered useless by designing and crafty
| r. unidItv A II Fnr ID
but they differed about what they shold
be. 1t is much easier, we all know. to talk
about reform than to establish safe aud
f harmonious system to accomplish it.
} It is fact, probably well known TO our
, readers, that more bank capital has been
incorporated lately by Administration
than by Wing States. Whenever our en-.
emles have had the power, they have shown
their hypocrisy by granting bank powers
t to their friends. In this State they can
vote for banks Cor their own vicinity and
call down odnm on the wings for aiding
, them. They can propose crude and bung-
ing systems OF reform, and then stIGmatlZe
the wings as oppoScrS of bank reform for
refusing to enact them Ii NAV perhaps
J be called an adTolt stroke Of party cunning;
but 1t is mean policy. II is not wonder
/. tul that party winch has unbushlnglv
pra'ed aOOut reform IN our ma ional eXpen-
u ditures for ten years, while continually
u angmen'ng them; procainIng with unial
f terng boldness that their opponents are
!, arlStocrals and tedcraIlSs Of '9G, while
d they are UNFOLDING an Executive which
: mas exercised more power, and extended
his sway over our national councils. by the
u h,,t, Ia, n,,A, e
: more than the sovereign of Great Britain
over That natl0n-lt Is not strange hat such
l. a party should descend to so mean MA.
: nmuvrc. But 1t wonderful that so many
people should not see through the tlmsy
:, vel ofso contemplate hypocrisy .-JeGer-
J Soniaa Democrat.