The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1841-09-14

State and PAYABLE in another without any re
straint. The bill of exchange may have an
unlimited term TO run, and its renewabIIiiy is
no where guarded against. 1t may in fact
assume the most Objectionable form OF accomo-
datIon. Ii is not required 10 rest on any ac-
tual, real, or substantial exchange basis. A
drawer in one place becomes the acceptor in
another, and so in turn the acceptor may be
come the drawer upon mutual understand.
ing II may al the same time indulge in mere
local discounts under the name of bills of ex-
change. A bill drawn a. Philadelphia on
Camden, New Jersey-at New York on a
border rowr in New Jersev-at Cincinnati on
Newport, Kentucky, not to multiply other ex-
ampIes, might for any thing in this bill to re.
strain it, become a mere matter of local &C
commodation. Cities thus relatively situated
would possess advantages over cities otherwise
situated. of Sd decided character as most
justly TO excite dissatisfaction.
Second. There is no limit prescribed TO the
premium in the purchase of bills of exchange,
thereby CORE citing none of the evils under
which the community now lsbors, and opera
ting most iDuriously upon the agricultural
States. in which the inequalities in the rates OF
exchange are most severely felt. Nor are these
the only consequences: resumption of specie
payments by The banks of those States would
be liable 10 Indefinite posiponement for. as
the operation of the agencies in the interior
woult chiefly consist IN selling bills of ex-
change, and the purchases could only be made
in specie or the notes Of banks paying specie,
the State Banks would either have to continue
with their doors closed or exist at the mercy
c.l: II oc NJ.
can it be passed over without remark, that,
whilst the District of Columbia is made the
seat of the principal bank, its citizens are ex-
cluded from all participation in any benefit it
might afford. BY positive prohibition on the
hank from all dIscouning within The District
These are some OF the obj .ctions which
prominently exist against the details of the bill
others might be urged of much force but it
would be Improbable TO dwell upon them.
Suffice ii 10 add, that this charter is designed
TO continue for twenty years without a com
petitor-thai the defects To which have alluded
being founded in The fundamental law of the
Corporation, are irrevoc&ble-and that if the
objections he vel founded, it would be over
hazardous 10 pass The bill into law.
In conclusion ! take leave most respectfully
TO say. that have felt the most anxious soici
Jude 10 meet the wishes of Congress in the
adoption of a Fiscal Agent, which, avoiding all
constitutional objections, should harmonize
opinions. Actuaied by This feeling
have been ready to yield much. in a spirit of
10 the opinions of others. And it
is with great pain thai how feel compelled to
d'iler from Congress second time in the same
session. At the commencement of this SEES.
sion. inclined from choice 10 defer 10 the legis-
laive will, submitted 10 Congress the pro.
priety Of adopting Fiscal Agent which.
without violating the Constitution. would
the public money from the Executive
control! DerIc-m The operations Of the Treasury
without being burthensonc TO the people, or
inconvenien:, or expensive to the Government.
X is deeply TO be regr tied, thai this depart
menl Of the Government canuor, upon consi u
rioaal grounds, concur with the Legislative De-
paItmcnt in this last measure proposed 10 attain
these desirable Objects Owing TO the brief space
b-iwcen the period of the death of my lampnled
pre-. eocssor and my own installation into office,
was in fact, mt leit time 10 prepare aHd submit
drfG tie reccmmen iation OF my own 10 my rrgu-
lar message, aud since, my mind as been wholly
occupied In most anxious attempt 10 conform
my action TO tie legislative will. In This con-
am confined BY the constitution To
my constitutional nbleciions, simply TO this bill,
but he period OF tie r. gdlar sesS will SON ar
rive wien II will he my duty under ano her clause
of the constitution "lo give to the Congress in-
formation Of the state of the Union, and recon-
men such measures IS shall Judge necessary
and rxprdient.' And must re >pecllully submit
in spirit of harmony. whether the present differ
ences of opinion should De pressed further at this
time, and whe her the peculiarly of my situation
does not entItle me 10 a po>fporement u this sub
ject TO a more .uspiciaus Teriod for dehberaIiun.
The two Houses of Congress have distinguish
ed themselves at this extraordinary session, 10y
The performance Of an immense mass Of labor at
a season very unfavorable, both 10 health and
action and have pass many laws, which
trust Will Prove highly ben, fetal To- ;h interests
of the country, and fully answer its Just expecta-
tinns. Ii has been my good lortuue aid pleasure
10 concur with them IN all measures except this.
And why should cur differences on this alone be
pushed Ia extremes? 1t is my anxous des1e
that 1t SHOULD not be. too have been burdenei
with extraordinary labors Of late, aud sincerely
desire time for deep and deliberate ref -cton, Oh
this the greatest difficulty Of my Administrations
Nav we not now pause until a mole favorable
lime, when, with the most anxious hope that the
Executive and Congress may cordially unite.
some measure Of finance may be Deliberately
adopted, promotive OF the good of our common
country.
will lake this occasion 10 declare that the con-
clusions to which have brought myself are
those of settled cow cion. foun ded, ia nv opin-
ion. on just view oil tie Constitution. That in
arriving at it, have been actuated by no other
motive or desire, Than TO uphold the institutions
OF The country, as they have c"me down Ia Us from
the hands of our God-like ancestors-and that
shall esteem nv efforts TO sustain them. even tho,
| perish, more honorable than 10 win the antlause
of men by a sacrifice of nv duty and nv con
science. JOHN TYLER.
Washington, Sept. 9; lS4l.
CONVENTION.
In convention of delegates from the Singing