The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-01-20

ah1 bcSouSS AucSc uiItCtOIS were Ill W d>ti-
lngton, and under the immediate influence
Of the Government. They had always con.
demned the connection of great money
power with the political power OF the Gov.
eminent. But here 10 this hill all masks
were thrown of. Here was Government
bank, not owned in parton controlled in part
by the General Government, but belonging
altogether 10 that Government, and having
all lis officers by Government appointment.
And yet they were told, iorsooih, that this
was an intermediate measure" So far
from IT, that, With the single exception of
the facility of repeal II was an extreme
measure II went far beyond the National
Bank, which his party had always opposed
as being connected with the Government,
aud subject IN some measure To its inhu.
ence. But here was an institution mol
merely connected with the Government,
but IA all respects complete Government
bank. And yet the Senate were told that
thus measure presented ga common plat
form on which all might unite" Would to
heaven that II we're An Mr.. BIS habits
and feelings would induce him to rejoice al
The discovery OF measure Of that charac
ter, and he would be one ofthe very first to
rush into union on any such common
ground
lie remembered well, he never could for.
get, the speech formerly delivered by she
honorable aud distinguished Senator from
Kentucky Mr.. Ciay) on this subject. A
printed report ofttat speech was now before
him. The title page, as II was very long
one, he should mol read.
Mr. Clay here iuterposed TO ask that ii
might be read By all means
Well, SAID MIR. b., since the Senator De
sires 1t, | will read ii. 4 poet has SAID tina,
"the world is all title page !" bot that re-
mark would not be Just if applied to this
speech, for there is great deal of good
reading IN i. besides the title.
He then read the tile page in full the
great length Of which produced much laugh
ter
I There's title for you Now, on what
principle had the honorable Senator con
tended that Mr.. B. ard his party were in
favor OF great Government Bank They
had no, proposed 10 lend any noney, nor TO
issue any bank paper. Their plan contem
plated back Of issue, aud what did gen
ilemeD think the issue was to be Simply
drafts by the Treasurer ofthe United States
on the repositories IN different sections of
The country for debts due HE Government,
a practice which had prevailed since qbe
origin OF he Government, and aust contln
ue as long as Il was Government. Yet
the honorable Senator, shifting danger Ia
every tainted breeze, considered these drafts
as forming the paper currency Of iremen.
doGs Government bank. Aud, although,
The drafts we're required 10 te paid within
Thirty days after the date Of their issue, still
It was TO be great Government bank
What must the Senator now think Of his
old political friends The Senator was
thrown perfectly into the shade. Instead
OF Treasury dtaits, payable 10 thirty days,
here was a regular issue of paper bills al the
rate Of three 10 one dollar in specie, with as
complete a system of exchange as would
have resulted from the adoption Of the Ex
change Bank bill, so properly vetoed at the
extra session. What became Of the PreH
dent, according TO this planl He was the
great touatala Of authority (; he was TO be a;
the head Of great moueyed institution:
and If the bill should succeed, the specula.
tors aud politicians Of the whole country
would be coming here to court the pres.
dent or his Secretary for loans Just as
eagerly as men now crowded TO Washing
ton for offices. Protesting always that 10
remarks he should now make had the re
moiesl application to President Tyler, he
put the case Of an ambitious and dangerous
man being a. tue head Of the Government
an Aaron Burr being in the Char-and
let INN have II in bis power to control the
whole oil the public revenue; lei him have
al his disposal all the money of the People,
with which TO purchase The service Of po.
iiiical paF.sans en- the eve Of a great Pre-
sdental election, and what would become
Of The national iberty1 All they had for.
merry heard about union Of the purse and
the sword was mere IDLE reclamation: but
hero was that union 10 reality, and without
veal. All the money of the People was
TO be subjected TO Executive disposal, and
the President was to become at once the
fountain Of political power and of individual
wealth. The Treasury Bank was 10 be
completely and exclusively under the con
troll Of the government; and an able, who
should be at the same time bad man,
would be in circumstances. BY the use Of
this double power, both political aud fiscal,
to spread unbounded corruption throughout
The community, to subsidize The ycnaI to
the purposes Of his ambition, and 50 to cor
rupt and to impair the liberties Of hls coun
try, that they would be 10 longer worth
preserving.
Mr.. L. went on TO observe that IT might
perhaps be urged 10 reply, that by this
plan the bills OF exchange in which the
back could deal, we're such only as had
bUt thirty days 10 run. Very true, that
was the restriction IN tie BILL bot let this
great bank once get fairly a,o operation,
let The money Of the Government, become