The Hawk-eye and Iowa patriot. (Burlington, Iowa) 1839-1843, 1839-11-07
From the Cincinnati Daily Gazette.
THE SUSPENSION.

Who is surprised? No one who
understands the subject. Suspension,
in the actual condition of the country
was thing of course. When that
most foolish---worse than foolish
measure was taken, OF RESUMPTION,
gave one year and a half as about the
fair period to prove the nonsense of
it. find | was not SO wise as sup
posed myself to be. 1t seems that the
state of things charged upon year
and a halt, has fallen upon measure
OF one year and about t,co months.
Can our, country get along without
a National Bank? This is the question
that | would put. | have not word
to say of the u. States Bank of Penn
sylvania. That is State Institution
and ONLY State Institution. ] had
hoped and expected much from it, to
keep the exchanges of the country in
order. But that it should have suf.
fered itself to be Frustrated by con
fidential foreign house, for non-accep-
lance, has entirely shaken my conf
dence in its good management, if not
in its good faith. The query why Mr..
Biddle withdrew from it some months
ago, is fully solved. In my judgment
he has added nothing to his reputation
as man of honor, though he may
have gained muchreputation as man
of shire wdness. The mistake of the
present most disastrous condition of
the Bank was, most unquestionably,
his, and he cannot, and should not es-
cape the responsibility. He was I'M
questionably wise in foreseeing the
result; but be should have had the no.
bleness to have stood out the conse.
quences Of his own dreadful mistakes
| insist that he meanly retired from
them. The noble front which he pre-
sented against the unhalowed attacks
of corrupt Government, should have
been preserved unbroken. A false ere,
dit in the Southwest, where he knew
he was the weakest in his politics
given doubtless Observation-Disclosures
never have been ventured to the risk
ofdestroying the best argument of the
! party that supported him in the grea,
/ theory Of maintaining the true finan
. cial interests Of the country by means
Of a NATIONAL INSTITUTION. The true
] policy of the U. S. Bank would have
been to have carried out the idea, thai
] though reduced to minor position n
name, it should have kept its moral in
j fluence, as a National Institution, I'm
). broken.
The charm is at an end.
What could have induced the pro
test of her bills by foreign House
for non-acceptance, but real ,ceaknes
! in itself? What could have induced
the issue of millions of long Post Note
] but real weakness? The answer is ca
| sy to both these questions. The banl
presumed upon its credit with grea
foreign House to 60 beyond the lin
I its Of its business arrangements. Tn,
!, Bank hawked its promise to pay
! through all our leading cities, for thu
5 obvious end of realizing present mean
! to meet engagements. These promis
J es are protested, and the whole SAL
story is soon told. The Bank is veal
81 when the nation supposed it strong
II Just about the last position, in whicl
. for its own sake, as well as for the SAX
j Of the country, it should have permit
b ted itself to stand.
!, With this poor and most mortify
q ing position Of the Institution, in whic
+ all my hopes rested, go back to tn
i question, can our country get alon
h without a National Bank? NV answe
!. is NO. All the troubles we are no,
d suffering are the legitimate results I
e the wretched Veto; that denied til
d renewal Of the charter Of the y. S
r Bank. For ten years we had enjoy