Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-01-22


Government on the principles which the people
had sanctioned And who could tell?-perhaps
there might be hope yet. A augh.l
When the Government treasure was entrusted
10 existing corporations, there was something OF
mutual liability between them; but here, in
this bill, we found an immense machinery, foo.
ding the country with million upon million, and
no power any where but in the will Of the sover.
eien to control it. In a free government Mr..
M would never consent to trust such power
any where While private claims Of the clesrest
and most indubitabe justice were constantly re.
iected from year to year, because the govern.
ment could not be sued, would they invest with
the like prerogave OF unsueabili,y an institution
with all the powers to be enjoyed by this Exche.
quer. For one he would never consent to it.
He said that it was not his intention to go into
an analysis Of the bill, yet there were really ono
or two things in it which had so torcibly struck
his mind, and which so palpably demonstrated
the illogical character of the much Wanted ar.
gument ia the report that he could not but re-.
| fer TO them.
The first occurred in page second Of the print.
ed report, where it was asserted that this Exche.
quer Board was no bank, because it did not col.
lpct its capitol by subscription just as il that
feature were essential 10 the existence Of bank.
Might not bank be incorporated and endowed
with all banking faculties where this requisite
was wholly wanting? What were the banks OF
Alabama? fthis reason were sound one, they
were no banks at ALL 20 state Of things which
the people Of that State might well desire 10 be
the case. IA laugh This was specimen OF
the ncontrovertible logic for which this paper
had been so highly praised, and praised too by
the Senator from South Carolina, whose search.
ing eye any one would have supposed no nsecu.
utive conclusion could have escaped But he
supposed that the Senator had been so much
grati6ed, and so entirely engrossed by the con.
cessions in the report, that he was not disposed
, to look with very microscopic gaze upon its
: other features.
3 Again, in page egth, it was contended that
t this was no Government Bank, because it did
! not discount. Now here was doubled and
r twisted fallacy: the reason given was untrue in
principle because bank may exist without this
power. Here was another instance OF the i'm
=. pregnable logic of the report, another evidence
t Of that gigantic intellect whose impress was said
1 to distinguish every word and line.
It The third fallacy might be found on pages
fifth and sixth, where the Secretary insisted that
d the bill proposed no union Of the purse and
sword, because neither the President nor his &c.
cretary could touch dollar in the Treasury
without appropriation. Why, had not this always
been the case? Yet what had been the ground
taken by the Wing patty at the time OF the remo-
val OF the deposites? What had been the outcry
| on that occasion Of this Secretary hmself-both
h master and man? Although every petty Locofo-
e co paper in the country had defended the act on
It this very ground, that Gen. Jackson could not
. touch dollar Of the public money unless by the
/, appropriation Of Congress, did the Wings admi.
O that reasoning as Waldo Did they not still con-
}, tend that that act effected union Of the purse and
the sword? And was not the, case the same now?
r. In this Gaacy there were two untruths involved;
o nay, three. In the first place, the principle was
e unconstitutional. 1t was said that neither the
d President nor the Secretary could touch dollar
J., oil the public money. But this Government had
S fallen into decay, and, though commerce had be-.
y come quite too mercenary a concern for the ars-
h tocracy OF the present day, substitute they
turned their attention to banking, and as the reve-
# nue. was collected at dferedt points, and had 10
rs pass through the hands Of subordinate functional
Of ries, every whippern Of cus.om-house might sp
a. propriate the whole amount to the purchase Of e1
Of change The argument entirely overlooked the
J. fact that the entire revenue mi ht be seized upon
W without dollar being appropriated. II this was
J. an example OF the severe, consecutive, impregna
- bic logic of the report, he, for one, must have
as more capacity before he could be able to appeci.
ut ale it,
ne Mr.. M. said in conclusion, that the Bank in
IL this bill was ultra, beyond any United State
N Bank that had ever been thought OF. When Ce
lis sar, at the head OF his victorious legons broke
or into the Temple Of Vesta, ard seized the public
u treasure he had not in his hands power so ggan
be tic as that which was conferred by this bill.
&C. was the long sought philosophers stone, the lamp
IT, Of Aladdin was no touch TO it. 1t converted
en- reams Of paper into gold merely by putting it IN
o. der the press Of the Government.
a With all this gigantic scheme, concocted ant
,c elaborated by the master mind Of the age, backed
ey by all this force Of argument, and defended by al
mt these illogical conclusions, he would not say tina
lie there was man in this Senate who would no
it take it, but this he would say, there was none
- here who had nerve enough to say 81 tUiU tax.
est it, "Erpede Herculem" Here might be seen.
elf on a narrow strip Of land, which separated or
he one side the calm, deep blue sea Of Wing princ
ed Piles and Doctrines on whose bosom were up.
it borne the destinies Of freedom and the hopes Of
gazing and expectant world, from the raging ses
"a. of Democracy, whose wild surges were roaring
nd anu flashing on the Other the foot print Of Hercu
its es-but not the whole impress Of the FOOT for SC
tv narrow was the frail and sandy verge and so
nm y did the waters on the one side encroach upon
Nv It's limits and threaten to mnge with those upo
rot the other, that there was not room for the gan
n. TO tread without having portion OF his foot prin
ad obliterated by the waves
m And, finally next to the daring and presumE
~ tuous attempt at the subjugaton Of the People b
on the seducing influence Of the money power, tina
=, which most offended Mr. M in this documen