Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1840-10-21

Gr loans and The capital stock Of the
hank. are found TO be Identical. The his
tory Of one Of these swindnng lns.''u'lons
would require bat little variation, % serve
as the history Of every bank which mas
failed in New England.
The benefits between the banks and the
r.onIe should be reciprocal. Therewould
l. no apology for granting to capitalists
the privilege of associating for banking
purposes, were we not fully satisfied, that,
At the same time, we were comforting an
equal benefit upon the community, among
whom bank may be located, BY afording
facilities for loans, at a reasonable rate. TO
such as take the property Of the neighbor-
hood to market and furnish it with mer-.
chandize in return, or to such as add labor
10 the raw material, and thus render the
property of the country a more valuable,
as well as more marketable commodity.
Entertaining these views, should this
subject come under your consideration, il
might naturally be expected that should
ask for them candid and dispassionate
examination. Ia the absence Of all party
feeling and every improper bias, the in
uuiry should be, does the active business
of any particular section, asking for the
establishment of bank, need its accom-
modation2 Are there capitalists, who
will make investments Of the stock2
II the affirmative be true, still we
shall have made but pro6tless i'm
provement Of the example Of our pred
ecessors and neigbbors, if, when we
/ adopt such sanitary restrictions as will
eAectuaIIy secure the public from loss.
we should impose such unreasonable and
excessive restraints as shall prevent that
public from enjoying the benefits of the
system.
Copies Of resolutions. passed by the
Legislatures of several OF our sister States,
upon various subjects, have been received
. by me since the adjournment of the Gen.
eral Assembly. In compliance with re-
quests by which they were accompanied,
they will be laid before you.
No subject embraced in them is of so
grave import or involves principles so
nlarming ia their character, as those from
the State OF New-Jersey. One of The
sovereign States of the Union has been
deprived Of her constitutional rig hts. Her
Representative. presenting the ever be-
lore undisputed and legal evidence of their
Election, have been refused seats in Con.
kress. Not from any failure on the par
Df the freemen to elect; not from any
fraud or neglect of the Executive of the
State to furnish the usual and legal evi.
dence Of the result Of such election; moi
through the omission of those holding
that evidence 10 present the same to Con.
gress; not in obedience to any law OIL
precedent which has heretofore been con
sidered binding in like cases, but IN start
ling violation Of all law and constitution
right. and reckless disregard Of all pre-
cedent.
Whatever motive may have influenced
the decision Of the majority in Congress
on this question. still in history Of tn,
hines, it will be difficult to consider
ppart from the fact, that the matter wa
prematurely, and for the time being, set
He'd during the tendency Of favorite
Executive and partisan measure; meas
ure, which all parties admit, is to exercis
an important and controlling, if not de
structiye, influence on the pursuits an
prosperity of the country.
This Invasion ofthe constitutional right
Of STATE is the more dangerous, from III
fact. that it was perpetrated by bod,
pver whom the injured party can have q
control, and before whom it can nei.he
make known its wrongs nor seek redres.
except by suferance.
From the practice, in regard to cor
tested elections, which has prevailed froi
the foundation of the government unit
the last session Of Congress, little DANCE
could be apprehended. For there is 4
occasion to fear that any permanent wron
either public or private, can grow out
any fraudulent or unlawful act of Il
State authorities, in cases Of this chara
ter, as the actors, by our frequent ele
tons, are so often brought before tribu
nj, from which there is no appeal, al
whose reproot few would be willing
encounter. Our present form Of Cover
ment has more 70 fear from undue assum
lion Of power by the several branches
the General Government, than from al
other source 1t behoves the States, the
fore, as they prize our liberties. to rega
with wa,chful vigilance every approa
10 the usurpation and exercise of pow
not delegated blythe constitution.
Through the politeness of the Trust'
Of the vermont Asylum for the Insan'
a copy of their fourth annual report
been placed in my hands. A lasting d
pr gratitude is due TO the phi lanthro
Individual, whose liberal bequest laid
Foundation for this humane institution
The numerous applications for admiss
show the wisdom Of the Legislature m;
ing the appropriations which enabled
trustees to open their asylum with
Les, ,,oee;hlo dolav