The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-07-27
TO TIE ORIGINAL JACKSON MEN

MONDAY MORNlNGs JULY 2Ts
TO THE ORIGINAL JACKSON MEN.
One of the fundamental principles for which
we contended in 1925, was the freedom of cleo
tons. The freedom of thought and of speech
In other words-Liberty as it given to us
by our fathers. Now mark how simple fact
will condemn this Administration. The Charles
ton Courier is administration print, and the
correspondent of that paper writes from Wash
ington, under date of July 18th, as follows:
SeMemorials were presented in the Senate, from
three of the District Banks, praying that theiT
charters be renewed, on condition that they
sumo specie payments in full. The application
was secuted; for the Senate aye determined to
PUNISH the Banks for past offences"
l will not stop to discuss this whole question.
propose to do that hereafter; but 1 beg you to
bear in mind the fact, that the people of the Dis
trict have no representatives on the floor of
either house. They have no voice in legislation
they can take no part in politics except, so far
as they express their opinions on public men and
public measures will not say that the o6enccs
here to be punished, are political; although there
can be no doubt that the majority of the Senate
opposed to them in politics. put this admission
of a deliberate purpose to punish these banks, on
record, that the people may what feelings
prevail in the party at Washington, and that
they may have foretaste of what is to be done
in the State Legislatures, if the party prevail
The feeling which governs the Senate, will go
into the local Legislatures, and the people VIII
be punished through the banks l say that the
people are to be punished, through the banks,
and now proceed to prove it.
In Mr. Calhoun's celebrated speech on the cur
rcncy, he estimated the value of property,i lin any
community, to bear the relation of thirty to one
Of its circulating medium-or that any cause
which diminishes the circulating medium one
dollar, diminishes the value of property thirty
dollars.
BY report of the Secretary of the Treasury,
dated June 7th, 1888, upon the condition of the
Banks, it appears that the Banks had,
On list January, 1887, (sRfcie) s37,915, $40
Notes discounted, 525, Il5,702
Real Estate, 1904 451
Other investments, I0,423, $50
Making, S592 1928
Their deposites were, S127, 397,1s5
Other liabilities, 36,O15,592
Circulation, l49, ls5,Ss9
Making, s3l2,59S,676
Deduct balance due
to Banks, 81, 421, ISL
Making total liabilities, $3.50, III ass
This leaves balance in favor of
the banks, of s342, 341 60,
ask you 10 pause, and look for moment o.
the picture here presented. The party in powe
having refused TO renew the bank charters in tn
District OF Columbia, the banks are compclle
to call in the debts due them. What would b
the condition of the country if the other bank
were compelled to do the same? To say nothin
of the debts due to others, the debt due to tn
banks was, 1925, Ills, 20
The means OF payment, but 250,177, AS!
Leaving the public debtor to the
banks, s274,92S,2 Fl
after every dollar due from the banks had bce1
paid!!!!
Now beg you to remember that this debt t;
the banks must be paid in the current banl
notes or is specie That the circulation wai
but s149, 1876, 1891
And Of this there was in other banks, Sc, 533 53i
Leaving but 1852, 96i
To pay debt of 525, 115,70.
beg you to bear also in mind the fact stated
by MIR. Calhoun, that in proportion as you reduce
the currency dollar, you diminish the yalu
Of property thirty dollars, and then would asl
you if it be wise, or just, or patriotic to adop
measures which will compel the banks thus Il
contract the currency?
| have Just read an article in the Globe. which
is in the following words
FALSE PRETENCES UNMASKED
ssAmong the articles used by the Federal man
ayers for the banks in Congress to obtain fol
them new charters, with the privilege Of issuing
irredeemable currency, was the reiterated as
sertion, that if this were refused, there would bt
no money in the District to buy the country pro
ouce, OF which Alexandria the usual mart
Nir. aERRicK and his paper money men took thi
position, and insisted that nothing could b,
bought, or sold, or exported. No one who heart
and 6efseced them, could doubt but that to den,
Inc suspended banks new charters to issue shin
plastels, was worse than an embargo 1t is witt
great pleasure we give the following self-con
deInnation of these panic makers presented ron
spituously, and with flourish, in this morning.
National Intelligencer:
CUISINES IN l<iExANDRlA.--We COPY with
pleasure the following paragraph from the Alex
andria Gazette of Wednesday Lasts
aSome OF our friends in the country seem 10
entertain opinion that, in consequence of the
recent action of Congress with regard to our
banks. there will be no use in their sending their
produce to Alexandra. We trust that, banks OF