New-York tribune., 1841-09-11


limited term TO run and It's renewabity where guard
cd against II NAV fact, the most Objectionable
form o accommodations Il Is required 10 res; any
act,a real or substantial exchange basis drawer IN
one place becomes the accepor another and IN turn
the ccf ptor NAV become the drawer upon mutual
der,ianGinr. II may the same time indulge mere
local discounts under the bills oi exchange bill
drawn a. Philadelphia Camden, New J4rsey-a New
York on border IN New Jersey-at Cincinnati on
Newport Kentucky, multiply other examples, might
FOX arytiing this bill 10 H. became mat
OF local accommodation Clues thus relatively sltua
ted would possess advantages cites Otherwise situated
of decided character most Justly 10 excite cosais-
faI@n
Second There is no limit prescribed TO the premium in
the purchase o bills of exchange thereby correcting none
Of i- evils under which the community now labors, and
operating nju.iously upon the agricultural States, IN
which the inequalities the rates OF exchange are more
severely felt Nor are these tina only consequences re-
sumption OF specie payments by the banks OF those States
would be liable to neiniie pospcnement-foT as the op
eratons ct the agencies OF the Interior would chiefly con
selling bills OF exchange, and the purchases could
only be made in specie the OF banks paying SQe
ce the banks would either have 10 continue with
doors closed, exist the of this national
monopoly of brokerage. Nur can il be passed with
out remark hat while the Ds;ric; of Columbia i made
the Of the principal bank Us citizens excluded
from all participation any benefit II might afford, by
positive prohibition the baDh from all d!sconning with
the District.
These are some of the objections which prominently
against the details OF the bill OTHERS might te urged
of much i0rceDut wouk be Improbable TO We! upon
them Suffice add that this charter sdesigSed 10 con-
nue for twenty years without competlter-thst the
defects to which have alluded, being founded in the
fundamental law oi the Corporation are lueYocaple-and
rha, if the OBJECTIONS be well founded ii would be over
hazardous 10 pass the bill INTO law.
In conclsion take leave respectfully 10 say thai
have felt tbs anxious socitude TO meet the wsAes
of Congress III the adoption OF Fiscal agent, which, AVOID
ing all constitutional objections, should harmonlze conflict
lEg opinions ActuateG by this feeling have been 1ead
yield much spirit OF cqncaton, 10 The opinions OF
others Aud II with great pain that now ee competed
to differ from Congress second time in the same session,
the OF this session, inclined from choice
TO defer to the legislative WILL submitted to Congress tne
propricy of adopting Fiscal Agent WINCH without VIOLA
the Constitution, would separate the public money from The
Executive CONTROL perform The operations q the Treasury
without being budensomc 20 the people or InconVeh4th
or exp nsive 10 the Government.
it is deeply be regretted that this Department Of the
Government upon constitutional grounds. concur with
the Legislative Department in this last proposed TO
these desirable objects. Owing 20 tie hrle space oh-
the period Of the death ct my amcnted predecessor
and my own Installation into -ice fact not e tine
prepare and subrit definite recommendation OF my own
regular aud, since, my mind has been wholly
occupied anxious attempt Ia conform my action TO
the Legislative Will. In tA communication am conilned
by the Constitution to nv objections, simply this BILL kut
period of the regular Session Will arrive when 1t
Will be nv duty under another clause Of the Constitution TO
give the Congress Information o the state o! e ChoH
aud recommend to their consideration such measures u
shall Judge necessary and expeieht.
And most respectfully submit, IN spirit OF harmony.
whether the present differences Of cpnon should be pressed
further at this time and whether The peculiarly of my s
does enilte me 10 posponeEen OF ihs SN9-
jecl to more auspicons period for de'Iberoiion The
1--WE Houses of Congress have distinguished themselves al
lhs extraordinary session, by the performance o; an I'M
hea. and action; and have passed many laws, which
trust will prove highly beneficial TO the interests OF tie
country, and fully ts Just expectations II has been
my good fortune and pleasure, to concur with them III all
measures eXcep, this And why should our difference on
this alone be pushed eXtremltles II is my ANXIOUS de-
sire that it should not be.
too have been bur;hescd with extraordinary labors OF
late and sincerely desire time for deep and dtocIate
reflection on this the q latest difficulty OF my adminstra
ton MAY we not nov pause, until favorable tune,
when with the most anxious nope that the Executive and
Congress aay cordially unlte some measures OF hnance
may be deliberately adopted promove OF the good OF our
common country
will take this occasion to declare that the conclusion
to which have brought myself those OF settled con-
vctoR, founded i'll my opinion just view Of the Con
siituon That IN arriving have been acIaed By no
other motive or desire than uphold lhe Institutions OF
the country as they have down us from ie hands
of our God ike ancestorS-and that shall esteem my FL
forts 10 sustain ihe though perish, more honorable
than 10 the applause ei men by sacrifice c my du!
and my conscience JOHN l iAF-'''
Washington, September 9, ISL
AGRICULTURAL FarE.-Wc have every reason TO believe
tia, the Show and Fair be held the 29thard
3Ol prcsen, month under the direction of the State