Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-04-25

peuloncy, anu Oi AuS uiShSsNSS "hiSu
Mill attend the dissolution Of the bank
have been greatly exaggerated,l will ask
your indulgence for few moments Ion.
ger. That some temporary incOnvenN
fence will arise, shall not deny; but
most grOundlessly have the recent fail
uFes in New York been attributed to the
diseontinusDce of this bank. As well
might you ascribe TO that cause the fall
ures Of Amsterdam and Hamburg, Of
London and Liverpool.
The embarrassment Of commerce-the
ssquestration IN France-the Danish cap.
tuTes; in fine, the billigerant ediets, are
the obvious sources of these failures.-
Their immeddaie cause is the return OF
bills upon London, drawn upon the faith
Of unproductiVe or Improbable ship
inenis. Yes, sir, the protests Of the no
tsries Of London, not those of New York
have occasioned these bankruptcies. -
ThA power Of a nation is said tctconsist
in the sword and the purse. Perhaps, al
last, all power is resolvable into that Of
the purse; for, with 1t, you may com
mAnd almost every thing else. The spe
Gle circulation Of the United States is es>
timated by some calculators at ten mil
lion Of dollars; and if II be no more, one
moiety is in the vaults Of this bank
May not the time arrive when the con-
centTation Of such vast portion Of the
circulating medium Of the country in the
hands of any corporation, will be danger,
Gus to our liberties9 By whom is this
immense power wielded9 By a body
who, in derOgatIon of the great principle
Of all our institutions-respOnsblity to the
peOple-iS amendable only to a few
stockholders, and they chiefly foreigners.
Suppose an attempt TO subvert this Gov
ernment-wOuld moi the traitor first aim,
by force Of corruption. to acquire the
treasure Ofthis companyf Look lit in
another respect. SeveD.tenths ofitS caPi-
tai is 10 the hands Of foreigners, and
these foreigners chiefly English subjects.
We are possibly upon the eve Ofa rup-
ture with that nation. Should such an
event occur, do you apprehend that the
English premier would experience any
difficulty in obtaining the entire control
Of this itstilutionH Republics, above
all other nations, ought most studiously
10 guard against foreign influence. All
history t:oves that the internal dIsscn'
tionS excited by foreign intrigue, have
produced the downfall Of almost every
free Government that has hitherto exist
ed; and yet gentlemen contend that we
are benefited by the possession Of this
foreign capital! If we could have its
use, without its attending abuse,
should be gratifed also. But it is in
vain 10 expect the one without the 9th
or. Wealth is power, and, under what.
SOever fOTM it exists, its proprietor,
whether he lives on this or the other
eide Of the Atlantic, will have a proper.
tiOnate influence. II is argued that our
possession Of this English capital gives US
certain influence over the British Gov.
ernment. Irthis reasoning be sound we
had better revoke the iHlerdictoD as 10
aliens holding land, and invite foreigners
10 engrOss the whole property, real and
personal, Of the country, We had bet.
ter st once exchange the condition Of in.
dependent proprietOrs for that Of stew.
srds. We should then be able 10 govern
foreign nations, according TO the argu.
ments Of the gentlemen on the other
eide. But let US put aside this theory,
end appeal TO the decisions of expert.
ance. Go to the other side OF the At.
lsntic, and see what has been achieved
fOT as there by EngIishmen holding sew.
en-tenths Of the capital of this bank
Has 1t released from calling and igDo.
miniOus bondage one solitary American
seaman bleeding under British oppres
siOne Did il prevent the unmanly at
tack upon the ChesapOakeH Did il ar>
rest the promulgatiOn, or has il GbrOga.
ted the order Of councIl-these orders
which have given birth to new era in
cOmmeTceS In spite of all its boasted
effect, are not the two nations brought
TO the very brink of warf Are we quite
sure that, on this side Of the water,it has
had no effect favorable 10 the eBritishiinter.
estsH II has often been stated, although
| do not know that it is susceptible oil
strict proof, believe il 10 be q fact, that
this bank exercises its influence in sup
port ofJay's treaty; and may il not have
contributed TO blunt the public senti,
ments, or paralyze the efforts of the ma.
zion against British oppressioni
The Duke ofNonhumberland is said
TO be the most consid deFable stockholder {
Ia the Bank Of the United States. A {
late Lord Chancellor Of England besides {
other nOblemen, was a large stock holder (
Suppose the Prince Of Essling, the Duke
Of CadOre, and other French dignita. I
Tles, owned seven .oights of the capital
Otthis bank, should we witness the same
exeT'lOns 4 allude not TO any made in |
me sena!e) 10 re-Charter iti So far from
y, would not the danger Of French {
influence be FeSOuVaaa through the ma.
shall give my most dear,y assent to
the motion for striking out the first sees /
ton Of the bill. {
AZ II