Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1840-07-11
RY CYRHA &. CADK.



quently) the Presidential questions, were brought
in issue between my competitor and myself. Mr..
Van Buren, was then pledged to the state Bank
system, and against any National Bank, and my
competitor espoused those positions Taking the
converse of these, in my handful Of the 18th Of
JULY 1884, thus addressed the people;
1.-THE real issue, as an Mtimatun', is between
new and properly restricted national bank, and
state institutions wherewith to carry on tho fiscal
concerns of the government and the people u
1t was on this cardinal proposition that had to
separate from my competitor in relation to the
Presidential succession know shall en-
counter the violent opposition Of some prominent
members of the former relief party of Kentucky,
no less than the friends Of Martin Van Buren,, VINO
is pledged against any national bank and in favor
of state banks-but be it so. should not for this
reason, be discrediteG with the friends OF General
TacksOn--fUr lie announced his own conviction OF
the necessity Of new bank in the very message
whereby he vetoed the present one. More than
that the most distinguished members of the party,
among them, Col. Johnson, Of Ky, Judge VI Lem,
of ONO, and Mr.. Forsyth. of Georgia tat present
Secretary Of State) have ali publicly aud recently
expressed their preference for properly guarded
national institution, instead Of the cart-lOads Of
trash wherewth the policy OF Mr.. Van Buren,
would inunGate corrupt and rain the country"
SO wrote, and 50 spoke the citizen who adj
dresses YOU six years ago. You honored him
with your conf leucc, and what he then proptc.
cied, in your name, is now part Of the mourn
full History Of the country. Has HE been to
blame, Or the men who opposed him then, and
oppose him now If was right then, fellow
citizens, in Goreseeing and predicting the great
national calamity which has 5eralcu us--and if
you then deemed properly guarded national
bank the only conSerUatOr Of the monetary inter
ests and institutions Of the country, put it to
your candour and uprightness to say, whether your
opinions Of that day have not been confirmed by
the melancholy teachings Of experience which
have succeeded it. 1t may suffice to say, that
mine at least have undergone no change-and
that under these impressions, and with this vol.
ume OF confirmation before me, | shall not hesitate
to concur in any measure Of the Legislature.
whether by memorial or otherwise, which looks
to the interest Of the great body Of the people,
in the creation Of new, aCeU guarded national
bank-which, furnishing a paper medium OF
equal value with metallic currency, for trade
and commerce, and the heavier transactions OF
society," could not fail TO drive the unsound
trash Of the local banks from circulation, and
fill the vacuum with proper proportions Of gold
and silver. | say now, as have ever said, that
such bank should be purely American-
neither belonging, in whole or in part, to for
eigners, as the last Bank did nor as the sell
called democracy Of the Legislature proposed our
State Bank should. 1t should moreover, belong
to the States the United States, and to individ
uals, in such proportions as would control all
incentives TO the contractions and expansions
viii h were were complained Of heretofore, by
making its profits mainly 20 TO lessen the bur.
dens and taxes of the States and the Union,
while at the same time the keen vision Of self
interest would not be wholly excluded from its
direction. Such an institution located in the
| District Of Columbia, whereby all constitutional
scruples as to the power Of Congress ought to be
Notwithstanding ia its charter legitimate
subsection to the right of the States to tax its
branches or agencies within their borders, (( ne.
cessary) would be as pOtvcrleSs for evil as ii
would be eminently powerful for GOOD. To
my mind, it continues to be the only safe and
salutary resource against the "eXperimcntS
which have failed as well as those which are
proposed.
Connected with this subject-al must admit
that the Bank created by our Legislature has
signally failed in fulfilling the expectations o.
the people, or ministerng to the wants or the
interests Of the country Charges, moreover
are rife, of the gTossest mismanagcment and loss
Of funds by the parent bank-and | confess
should be gratiGed to be member Of a commit.
tee, appointed by the next assembly, to look
into the books and papers not only of the mother
but Of the branches. There is something mex
j plicable, except to the Directors and officers
who are S,COrn 10 secrecy. searching invcst
CATION, therefore, through a committee Of the two
houses, is perhaps the only mode by VIII Oh the
people can be made acquainted with the real do
ingS, as well as the real mOtireS of their OWL
Bank.
Such being the opinions entertain in relation
TO the Banks, the Currency, and the genera
question Of Finance, need scarcely say that
am opposed to ''the currency bill" proposed anc
carried in one house of the last Assembly. L
is at best but a forced cure for forced disorder
which will again get well Of itself under tht
healthful regimen Of a sound natonal" regulator
While this bill was pending before the Legisla
ture, was in the city of Washington, and truly
declare that when it was first shown to me in
Baltimore paper pronounced it a hoaE upor
The Legislature of my state. A few days, how
ever, undecevcd meas was informed that it:
passage was as fully calculated upon by one 0
our distinguished Senators there, as though h
: had been already advised Of it. met the glor
ous news of its rejection by the Senate, at Cap
lclulll NO'ilONuiA, SH"li ~
disappointed, indeed, if ever again, even in Mis-
souri,, slavish subservioncy to the wishes Of on
, maitland he our common SerUant-shall driy
/ its legislature to the very brink Of enacting
law so unfraternaI, undign0ed and childish o
! the one hand, and so eminently unrepublcau an
unwse on the other As the Journal shows tha
one Of my competitors was the introducer Of thi
bill of ''pains and penalties | shall but rende
y him that snecial iustice which is due 10 the sol