Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1840-06-13
A NEW NATIONAL BANK.

We copy the following from the 81. LOUIS
Evening Gazette--a paper neutral in politics. All
classes, and men OF all parties beg to acknow.
ledge the necessity of properly guarded Ma
tional Bank, yet is Mr.. Van Buren, pledged TO
veto any bank bill He must not hare the chance
A very large meeting of the Democratic Re.
publican party, opposed TO he Sub. Treasury
scheme, and in favor of a U. S. Bank, was held
at the Court House on Monday evening; Dr..
T. ]. White was called to the Chair, and VIM.
p, barnes, appointed Secretary. The Chair
man explained the object of the meeting, and on
motion, it was resolved, that committee Of five
be appointed to report preamble and resolu
tons, as expressive Of the sense of the meeting.
The Chair appointed c. c. Carroll J. B. Kin,
D. A. Magellan, John Scott, and Edward S.
Atkinson, who after retiring for short time sub.
mitted the following preamble and resolutions,
which were adopted.
Whereas, the Constitution Of the country
guarantees in the people, the right OF peaceably
assembling and discussing public affairs, when
ever, in their judgment, the occasion requires 1t;
and whereas the present pecuniary distress and
embarrassment of all classes OF the community,
except only the Office holders Of the Government,
and the greet money changers Of the country, re-
quires the earnest and solemn consideration OF
our citizens, and behooves them diligently TO ex-
anime into the causes of this melancholy condi-
ton of public matters, and plainly and frankly
to express their opinions as to the appropriate
means of remedy and, whereas, it is the right
and the duty of the American citizen to value
more highly the assertion of truth and the main.
tainance oil republican liberty, than the low and
1,cfafas nf cririt IN I'd,
measures which are vital and permanent, rather
than MEN who are frail and falible; and whereas,
we in this meeting ass mbed, are thoroughly
persuaded, that a National Bank is necessary 10
regulate the currency Of the country, (and have
viewed with regret and surprise the course of the
Administration Of Mr.. Van Buren, in its hostility
to Bank Of the United States, and in TRUSTING
upon the country, against its interests and its
wishes, the miserable scheme Of the Sub lrea-
sury)-therelore, it is
/. RESOLVED, That in the present calamities Of
the times, the high rates Of exchange between
different points Of the country, the prostraton Of
business, the low prices Of labor and the scarcity
Of it, The sagnation Of commerce, the confusion
and bankruptcy which pervade every department
Of industry, We behold the natural and legitimate
consequences of the unhappy errors of the Gov.
eminent in relation TO the currency Of the coun-
try.
2. Resolved, That we conceive National
Bank indispensably necessary and proper" 10
form sound and stable currency for the coun.
Try.
3. ReSolred, That we think with General
Jackson that, Sin the spirit Of improvement and
compromise which distinguish our country and
its institutions, it becomes US TO inquire whether
it be not possible, to secure the advantages af.
iorded by the present Qhe late) Bank, through
the Bank Of the United States, so modified in its
principles and structure, as to obvate constitu.
llonal and other objectons''
4. Resolved That we view the Sub. Treasury
scheme with alarm and adherence, and think
with Gen. Jackson, ''that 10 retain the public
revenue in the Treasury, unemployed in any way,
is impraclicable. 1t is considered against the
genius Of our free institutions, to lock up in
vaults the treasure of the nation. Such trea.
sure would doubtless be employed at some time,
as it has been in other countries, when opportu.
nifty tempted ambilion.- Gen, Jackson's Mes
sage Of 1861
5. ResOlOed That we agree in opinion with
the Democratic Globe newspaper, edited by
Francis B. Blair, and the accredited organ OF
Mr.. Van Burcn's administration, that "the
scheme Sub Treasury is designating and rev.
eIu!lonary, and subversive of the fundamental
principles Of our Government AID its practice,
from 1880 down 10 this day." that ''it is as pal.
pable as the sun, that the effect OF the scheme
would be to bring the public treasury much
nearer the actual custody and control OF the
President, than it is now; and expose it to be
Plundered by hundred hands, where one cannot
now reach it. - Globe, 1884,
g. Res0lUed, That we concur in opinion with
the Hon. J. e. Calhoun, the distinguished and
gifted Senator from South Carolina, when he
says
81 mi ht say with truth that the bank owes as
much TO me as 10 any other individual in the
country; and | might even add that, had it not
been for my efforts, it would not have been char
tered,
at said that the bank had no agency, or at
least no efficient agency, in the restoration Of
specie payments in 1917, and that it has failed to
furnish he country with uniform aud sound
currency, as had been promised at its creation.
Both Of these allegations pronounce to be with.
out just foundation. To enter into minute ex
animation Of them would carry me too lar from
the subject; and must content myself with say
ing that, having been on the political stage, with
out interruption, from hat day to this--having
been an attentive observer Of the question of the
currency throughout the whole perlod--the bank
has Jeen an indispensable agent in the restora.
ton Of specie payments that cihoat it the re.
'tOration could not haze been e6ected short of the
utter proslratiOn Of all The moneyed i situations
IF the country, and an entire depreciation of
rank paper and that il has not only restored
'pecie payments, but has gipen currency far
more uniform, bettceen the extremes otthe country
han was anticipated, or eUen dreamed Of at the
inc fits creation"