Columbus Democrat., 1839-02-23

p Ill
:. 4, House of Representatives, January IL,
- SEQ ' On the resolution providing Tor the M
aon,men, Of committee to inquire into the
9sG.lcanons Of Samuel SwarIwOuI.
(Coatinaed.)
7 .ai.,;on to National Brnk, (speaking Of
!, a,0,he, Of agents which the Uniied Siaiss
Rsnk employed, aud lhrlr political Influence be
'-,y., :, But the patronage resulting from the APP
,,o,ntmen,--,he annual appointment ol these a.
,o,,. crrs, a. 1t would doubtless be, would oe
.,,,6can, and harmless when compared with
,hs, Inch would result from the dlspensatlon OF
pa,t accommodations, to the standing amount Of
Gr,v millions Of dQlars The mind almost IN.
,,ine,iyely shrinks from the contemplation of an
;dea so ominous 10 The purity OF the Government
.Od the Liberties oil the people. No Govern
rasn, Of which the committee have any KIN '~l-
edae, except, peIhaps,':he despotlSm OF Russia,
was ever invested with patronage at once so
urodlcious IN lis influence, and 50 dangerous IN
i, character. In the most desperate financial
sr,remlties. no other European Government has
ever entered upen an experiment s6perlous. II
tho whole patronage OF the English monarchy
were concentrated in the hands OF th American
Executive, it may be well doubted whether the
publc liberty would be SO much endangered by II
as it would by this vast pecunary machine"
This was the opinion Of the Federalists IN
1880, 1881, and 1892, in relation TO National
Bank. So it was then, always was, and will be,
the opinion Of the Democracy OF this country
This document had circulation throughout the
United States that no other document ever had
II flew through the country like leaves III the tall,
fell upon the highways. on crossroads, IN the
fields, and in every d1or-yafd those who could
read, were compelled TO read il aud those who
could not, bad it read TO them; aud no parl OF
thai report was used in argument in favor oi the
recharter of the United States Bank more than
that part which have cited. II was USED to pat
down and nullliy the mere suggestion which ten
jackson advanced that National Bank mighh
perhaps, be established, within the power Of the
Constitution, and Of Ieas dangerous tendencies.
But what do you think, sir, ot Federal coaslsrcn
cy. when tell you that no snnner had Gen.
Jackson vetoed the Bank OF the United States,
and the people had, by an overwhelming maJcr''y
sustained hIm IN his course, than the fedrIahsie
were for "a .Naiioahl Bank !" Yes, sir, for IA
National Bank, with aiis subjugauog Irndehces
and Russ an despoiism;" and N 1881. tht
Congressional elecllons turned upon the question
OF National Bank.
In 1884 5, when the General Government was
receiving the notes Of specie paying banks N IT.
quldalion OF the land purchases, the Ad'h'nlHlfa.
ton was denounced and the pracl"e deprecated
as destructive To the rlshts Of ib pe"p'e aAa l'tI
interest in the pubic doman IL was run. up N
every change thai the Administration was ifillei-
iar away the pubhc lands, which we're reserved
in trust for Tho use of the people, and taking N
consideration the SHIN plasters OF irresponsible
hanks. True il was, sir, that the spirit OF spetu.
laon was about to draw the whole pubic domain
in lis vortex. Those who had credit could nb
tam bank notes by the quire, and purchase nun
dreds of thousands of acres OF the public lands,
perhaps TO the loss of the Government, as there
was an uncertainty Of the pove Of the banks to
redeem their paper, and TO the great injury aSd
prejudice Of the poor and industrious man, Tor
whose use The land is, and really Of right ought
10 be held. Such was the rage for specuIailoa,
and such was the system of monopoly, that the
country was threatened with the introduction OF
lhe ieudal system, with the vacIlalIng and degra-
dug tendencies peculiar to system OF landlords
and tenants.
General Jackson, seeing the progress OF these
overwhelming evils, recommended What was call
cd the specie circular to the Secretary oil the
Treasury. The policy was adopted, which was
toprohlbt the sale Of a greater quantity OF land
than 52O acres to one ndv,nual, lor any other
kind Of currency Than gold and silver. lhis
measure had the desired effect, VIZ Ia bring a
sound currency into the Treasury. and IN some
degree to check the lage for Wild speculation. and
TO secure the public domain from The grasp oi the
wealthy monopollzer. But no sOoner was the
specie circular put INTO successful operation, than
the whole pack OF the Opposition agaI" raised iht
howl. Tie Administration was denMDced l"r
declaring war upon The banks, war upon the cred
SYSTEM and making an OdlOus distinction III the
currency between the Government and the Peo-
pie. There was not wing whlftet IN The coun'
'ry, but could ask with g,eal emphasis, "Wha'' Is
the Administration gong 10 establish two curren-
cleS, one for the Government, and one tor the
people 7" The Government must have gold
and silver, while the people are TO have shIn plas-
tefs," Again, in 1884, '5. and g, the Federal
lists said i was unsafe to deposHe the public Feve.
nue. in the local banks They we're unfit Ior H.
anncml agents, and the :" banks aud local bank
deposiie system was in character with The runous
and destructive policy Of the Administration. >
WolLm 1897. when the banks suspended pay
men', locked up the public revenue, aud proved
themselves fahhless agents, and unworthy ol the
confidence Of the community and The Goyern-
meat; aad when, il consequence thereof, II be-
Cane the duty Of the flesldent Of the United
e1atos to recommend separation Of the Govern
Lnent flnanros Al. anI fha fSfdhii n.
inent of an independent constitutional Treasury,
men, again, wds the whnln force Of the Federal
ISIS arrayed agulsl the Ad nmlsrali"n and every
Possible motive but that which was gnid or pai-
fo'ic attributed 10 them. Rum 10 he cnunir..
desolaIlon to commerce, destruction To the banks,
and proslraton to every interest, public aud pr
vale, was sang from Name TO Mexico. and as IA
Tie case Of the Treasury circular, "two curen-