, 1840-02-08

Eo1i L, into The beltef>th1t there were but
fen If anv banks in the Unitei States. at the
tine General Jackson reto.i The bill TO re-.
charter thu late Uai,ed States Bank. when
il il Il well known fict Tint thew thea nun.
herei near eight hundred. Missouri. was
the only State in the Union at the time Of the
p,to Of The bill t. rec!lar,er the United State.
Is INK, in which. there dill not ut that time.
exist banks which had been created BY state
authority. Since the downfall of the Uni
ted States b INK. the number Of hanks crea-
ted by the ~several State Legislatures. has
considerably increased, il is true, hut in no
instance VIII ltever. has n hank charter. bv
any State. been granted by democrats alone.
o. the contrary. in aims every instance Of
a bunk charter bv any "f the State L"g,Ia-
lures. the number Of .INhiy' votes in apor
of the measure. outnunberei the Democrat
IT, votes on the same side "f the qnes'i,n.-
The fact of there having been n Democratic
n,inritv in the lie .i<lliure of inv State. n
the time Of the passage "f an act granting
h1nking privileges. does not 90 TO prove TINT
II was dem,cra'ic MEASURE. For a. ] Inv"
before stated. the measure has on nearly all
occasions received the undivided support %:
the Wal! priv. generally ont number
ed the number Of Democratic votes given in
favor If the measure.
When the act to charter the United States
Bunk Of Penn.v'vrni, p,ssel the legislature
Of th1t State. ] believe that there were hut
four democrats found vniin. Eor the measure.
md it is stated and 7 believe truIy stneL
that t,ro Of the fur Democrats who voted
CIR t.- passage 81 the bill, We're Actually
5ribr I nv the 'Whigs. to dn s"!! The truth
nf whit | hive stated in this communication
nav. AMI no i ,uht will hc irsiei nv s,me of
The political grnmbiers. hit il rlnn", he dis
prorel by any or AL the malecontents ruf
together.
At the time ofrh. general snspnnsinn Of soe.
Gle payments bv the brnks IN 1887. the cry
ing sin of TINT notable sIVhig' MEASURE WINS
charged against the then administrator in
consequence Of the Specie circn'ar.' TINS
obstacle did cot eyi<t when the 'Whig' hanks
with the United States Bank Of Pennsylva-
nia ut their head. susn~nded srecie payments
in 1889. saw sVYhig' banks. because n;
least n,n'tern ont Of every t,rsniy banks. are
AMI have been from their creation, managed
and controlled by sWhis' officers. And
what apology is now given for this second
violation of the public faith bv these 'Whig'
banks, They do not pretend that they were
compelled 10 do so from inability, Ia meet
;heir promises 10 pay the holders Of their
notes. or from anv act If the general Gov
rrnrnen'. brf sirrlv c1rns" '''"nS"iv"s on
The So re or c~7nr"ai-nce mi o,'icv! Presl-
i.nr Van Birrn IN Via Ia" ,npud in"sS'-'
~ Congress make. 't,- rrnnNi,- rrnarks in
reference tn the Uni'ed Sia:"s Bank of Pa.
:" Il e IN scarcely he dnnh'ed that the recent
- SIS m of IN" United States Bunk 81
=. P,n-svlvani,-of which the effects are
=. felt not IN that State alone. bnt over
- hrlf III. Union-haI its ori,in in 4 COURSE
- Of business commenced while it was y
80 national Institution: aud there is n good
50 reason for surprising that the same cnnSe-
- qnences would have followed hid il still
:. derived its powers from the general Gov.
- eminent" In the s,me message. 'hr
President adis the following remarks. THE
" national characte. given Ia the BIn of
" England has not prevented excessive fiuc
:. fn,iions in their country, and il proved nm
:! abe (" keen OF 4 suspension of specie
- payments. which lasted f,r nearly a quar-
g ter nf a century. And whv should we
:. expect i, Z" b~ o,herwi:el Ann'ionai in
{" S'i'u'i,n. ti,rr II Deriving its Charter from Il
= IL F.ren' s,urce IN " The stlte hunks. is yet
=. = instituted upon the sane principles; AMI
= is conducted " men eqrrllv exposed To
:. temptation: AMI is lirhle to the slme dis
I. as,ers. with the additional disair1niag'
50 TINT it< ni.niiu lie occasions III extent Of
:. confusion AMI distress which the mis- nln
:. agemrnf o! smaller institutions could not
b" produce"
A WORKING MAN.