Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1844-09-28
United states Bank.

In New England, New York, Pennsylvania,
out openly in favor of n Bank of the United
States. Mr.. Webster declared that National
Bank was an oJselctc ided,' but Henry Clay,
at Raleigh, avowed himself favorable to another
Bank. Hear him:
"The necessity for National Institution "a
Bank) does not result merely from the existence
of local institutions, but it arises also out of the
fact that all the great commercial nations of the
world have Bank. England, France, Aus.
tria, Russia, Holland, and all the great powers
of Europe, have their National Banks" Hen
ry Clay's Speech at Raleigh, 1914.
So Mr.. Clay very naturally in this particu-
lar wishes to follow the example of Great Brit
ain and the other European powers. 1t is
necessary in his opinion 10 establish National
Bank in this Republic because such institutions
exist in the monarchial and despotic govern
mcnts OF Europe
As Mr.. RivEs is now advocating the cause
Of Clay, we subioin an extract from his (Rives)
speech in the Senate in opposition to the Bank
OF the United Sta,es-January II, le3i-and
clearly showing the dangerous character ofsuch
/ an institution
II canno,," said Mr.. Rlves 'see, then in the
use OF the veto by the present Chief Magistrate,
! Gen. Jackson,) any cause OF alarm for the Ii
bcrtics of the country"
al confess, sir, consider those liberties far
more seriously threatened by the unconstitu-
tional institution with whose grasping ambition
we are now struggling. II, sir, it should tvi-
umph in the fatal struggle, then indeed, fatal
revolution viii have been accomplished"
"This modern dynasty is now seeking to es-
tablish its sway over US in the worst of all
| forms-that Of great legal corporation, rami-
fed aud extended through the Union, directed
by spousbe authority, controlling the for
tunes and the hopes Of individuals and commu-
mites, influencing the public press, debating to
the organs o: the public will.
"Sir, an American Senator might well say
To day the Congress of the United States sits
in Judgment on the monopolists OF the Bank.
Tomorrow the monopolsts of the Bank may
be the Congress of the United States All his
tory hath taught US the dangerous power of
neyed corporations, and we now see and feel
that power eXerted in the most dangerous OF all
forms, IN assailing the purity of our republican
manners, undermining the stability OF our in
stitutioue, and awing the deliberations OF our
public councils. Sir, the American people
yes, sir, the pcople-when their true voice shal
be heard. call upon us for justice in this grea
cause of money violating and trampllng upon the
guarantees OF freedom. They cal! upon us fol
the preservation of the public morals, exposed
to a new and daring corruption. They call up
on us tor the viudication ofour national charac
ter from the scandal of practices before unknown
in our history They call upon us for the res
cue of their liberties from the grasp of selhst
and unrelenting moneyed despotlsm. The!
call upon us, sir, TOR the performance OF these
high duties, and worhily, | trust, will the
call be answered by the frmness, the cOnstan
cy, and the patriotism OF their Representa-
tives."
Gov. Polk and the One Term Principle.
The Clay prints ullege that, in his letter &C
ceptnI the nomination for the Presidency, Mr.
= Polk, in avowing his determination to retire a
the end of four years, gives in to "a great walg
principle" The Tennessee Democrat says;
flhe wing prints Will turn to the Journa
of the House of Representatives of the I'd ses
sion Of the 23d CongrSss, at page 435, they vii
find that while the House OF Representatives
, were, on the 18th Of February, lS3o, consider
inu a ioint resolution TO amend the Constitution
of the United States in relation 10 the election
Of President aud Vice President OF the United
States, aud for other purposes, motion wa
made by Mr. Spcghl to amend SAID resolution
f SO that the President should be elected toserv
for the period OF six years instead o. four, an'
to be ineligible 10 a reelection, and that Col
, Polk voted for Mr. Speight's amendment
thereby showing that at that time he was IN ia
\. yor OF the Zone term prlnciPIe,' which was DC
J fore the wings became the advocates Of tha
A measure,
I, These facts show that Col Polk Was all al
! vocate of that measure before It was taken u
e by the wings, and before lie was a candidate 10
= the Presidency, and thai he Is determined
T carry out the principles Tor Which he voted .
{ 1888"