Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1843-09-01
For the Waterman and State Journal
=" LEGISLATlVE REFORMS ACIllEXED,N


BY THE DEMoCRATs--( Meaning Locotocos.J
1t is thus the readers Of the Patriot have had
their attention twice called TO the subject of Bank
Reform adhered 10y the Democracy" II is fit |
ting that SMILE Y BANK REFORM" should
not rest III the grave without some nnnirul para |
graph of eulOgiun, aud it evidences n good heart
in The editor Of the Patriot that he has not utterly
forgotten tie Banks, considering how largely he
took an bat yrur or Two since. But pray when
had the Democrats"-lhe palent newly -invened
Dcmocrats-the power IN the Legislature to
cOieve reforms? We remember not the time
Don't claim too much thunder, Mr.. Patriot!
just look Tor moment at The great reforms
started 10y these humjuggerS few years back. One
was TO use n hundred lutte pet banks instead Of the
u. ;. Bank. In n tle time nany of these banks
burst up. seriously embarrassing the governments
scaldlng the people, running ,heir stockholders, aud
carrying death INTO the ranks Ul numerous rice
OF stripping backs, Of which the Beuloni. jackson
dynasty were the wet-nurscs. The u. s. Bank,
though worried, aud bleeding from The stnbs OF
enemies, who knew how to haze from having once
been friends, still paid off IA tenth more lhan its
actual capital. Any glory here?
Next--all small bills To be aunhilated-n crush
ing lax 10 be laid on them was 10 drive them as
Jackson would say, TO the deserts OF Aruby."-
Many Legislatures, being prompted by HE power
behind the then throne, made asses OF themselves by
resolving that for every stn-plaster broed on The
Goals an ngot Vi silver or gold would he found in
the ashes. An auto de Je VAS about To blaze up on
every bucoUco heartII side. Fond, complying
New Hampshire passed ong-faced laws against
any luchiess wight wlIu SHOULD attempt TO pass
such paltry rag as n one Or a t,c0 dOiLdr b-ex
pectug TO 100 il would seeuO goid aud silver
coin rush down the sides, the gurges, of her White
Hills, like newborn lava, to d up the vacuum
caused 10y The dispersion OF the oSlracised sunless
bits Of paper. But, 10 The silver flood, tie gold.
Ell waves, came not! aud silently, shamelacedIy,
the wlseacres rel eGled their legislative bull This
tiger oi reform sunk back inlo its cave with It's
tail dropping If there he any glory here, LEI
Maiue New York aud Pennsy lvanin speak
or the Sub-Treasury--al on the 4rh of July
the Specie Circular, aud the Gold Bill, we can
stop only To point finger.
Then the Vermont Locoiucos were suffered to
mount their hobhy--Bank ReUrnl--aud enve
gwen to ride nd HJHum knowing they would OF
course ride to the where aeggars Eel on horse
back ride y They moumed, bur with very nwk.
ward seal-it was seen they would never switch
the world with noble horseuianship." They pass
ed law requiring each stakeholder OF bank ut
Montpelier 10 give bonds or mortgages 10 All equal
amount Of Their stock Tor the redemption of their
liabilities. With all sorts of urging and spurrlng,
/ The stock could no, be got rid OF. Ii would not
bulge there it stood, fixed fact" So the
b INK charter, ushered INTO the world ny the uiuck
retormers, fell rs sill-born AS though it Ind been
untImeIy torn from its nlalernal womb! TINS
was lie CHEF, il il was not The only, Bank Reform
achieved 10y the .Smiis s. Bank Rejorncrs, aud tins
die! during the operation IN Their own hands-
Take all the glory, Mr.. Patriot, here.
The Bank hobby having utterly broke down. at
the next session II law was passed, Locofocos nemin;
contrddtcenle, granting certain .mmunules from
| taxation, provided the Bank directors would give
| bonds tor The redemption of their liabilities. Two
charters with these, and other provisions have
| been'granted and accepted. The stockholders as.
sert llat these are better charters and that more
profits can he made under them, than under lhr
old system. II these rag-shops, these suulIess
corporal Ions--lhrSe rag buruns, it has pleased
| the Patriot aud Ils kindred TO name Them, have
| been reformed in this mode AN achievement
cIulmed by the Patriot for It's party--by giving
them greater privileges TO speculate out OF the
community, it is only whit might have been sus
| pected iium such retormers from the begnuing
The cry was To Obtain the "sweet voices of lht
dear peOpIe-lhnt object no longer available
these furious Bunk Rniorners seZn the propiIlou
| moment, aud on the very spot where ami BanI
Zeal has burnt hottest aud frrcest, they beg tor
charter, and obtain II. lSkiul lockes know how
10 decry property before purchasing.) Hundred
Of The newly Invented anti Bank Democrats wer
nude by the Smile s. Bank Reform steam in Or
anse county, aud now the leaders lhere-lhe fire
men-lhe very gh.priesls of The party, owner
Of the new Bank, eXult aud laugh over the dupe
ability OF the people, by saying they have Dem
ocrac Bank there, which will make more money
too than ever could he made before
The Patriot clnims all the credit for this, AM
asks the people 10 remember it. We have no Oh
jeclions We "thank thee, jew for the word
Remember, then, that this was " dchieued' by til
newiy-nvehted Democracy. &.
+Thu is to sayhe Wing Bank Reform provisions resr
lions loans to Directors making embe elements state Prso
offences, &c.
Mr. Editor: Sir-As The time draws near TO