Independent Democrat. [volume] (Canton, Miss.) 1842-1844, 1842-11-12
SENATE OF UNITED STATES.
on the subject

I AS tlc CCHdte StOOu uuIlIlS INC last SCS
sion, there were 2> wings, 20 democrats
and Mr. Riycs, Tylerite.
We have gained by the late election,
in Marl land, l in Indiana, in North Car
DINA, and in South Carolina, making 4
New Jersey and Vermont, will be repre-
scented by wings and Ohio by democrats
as before. New York has not been heard
from and Tennessee will probably moi
elect. SO far, then, the Senate stands %
democrats, "a wings, with the probability
Of no election in Tennessee, and New
| York not heard from. If Mr.. Wright OF
New York should be reelected, our ma
jority will be t,DO, if she does not elect, il
she does elect and bo.h wings there will be
tie in the Senate.
Since writing the above we have heard
of the death Of Senator Woodbridge, wing,
Of Michigan. His place will doubtless be
supplied by democrat.
The friends Of Mr.. Tyler in New York
have written to Mr.. Secretary Spencer for
ian explanation of the course Of the adj
ministration and an exp 'sitlon of its policy
The Secretary has written long letter in
reply--too long for US to publish entlre.--
The following extract, embracing views on
the subject Of National Bank, is so true,
sensible, and eloquent that we cannot omit
to place it before our readers. After
speaking of the Exchequer Plan, he says:
"lf, as seems to be generally conceded,
the question lies between this plan and a
| " ,tional Bank, there cannot be much
room for doubt or hesitation. Waiv ng for
the present the insuperable difficulties pre-.
scented by the Constitutional objections to
such Bank operating through the whole
Union--obectlons SO long entertained by
large portion OF our fellow citizens
and strengthened rather than dimin-
iShed by discussion and by the sad expert
ence Of the tremendous power and the
still mo, e tremendous corruptlohs of such
an misunderstanding these the very fact
of the existence of such obJe tons ami Of
others of different character. will ehe t
ually prevent subscri ,tion TO inc stock OF
those sound and prudent ca ,IitaliSts whose
countenance and whose real wealth can
alone give it vitality. Such men will never
consent to place their property in a posi-
ton to be the sport of the alternate tr-
umphS and defeats of parties. The char.
ter'ng a Bank under such circumstances
would but invite the cupidty of those who
intend TO become borrowers rather than
lenders, and who by means of the irres.
possibility OF a corporation and with the
impunity that has marked former transac.
tons of similar Institutions, would plum err
those whose confidence th9y had invited
but to betray it, Whatever may have
been our opinions heretofore Of the utility
Of National Bank, however we may
have been compelled TO acquieSce Ia, its
supposed necessity, the history of the last
few years has, | should hope, convinced
all who are open to conviction, that any
evil which may be anticipated from the
want ofsuch an institution, however great,
are more tolerable than the certain, posi-
i've and immeasurable injuries which we
now KIN W have flowed from the existence
oi one that was instituted under the most
favorable auspices, and was commit ed to
The charge of men at The time esteemed
the most honorable and trustworthy in our
land. Within four years of IFS existence,
the last Bank Of the United States became
little better than den OF robbers-lts
managers with few except ms, pursued a
systematic scheme Of plumber and fraud,
which was arrested by the Investigations of
a Committee oI Congress.
Cemency, now believed TO have been
mistaken, towards innocent stockholders,
and hope that the example which had
been made OF the offenders would deter