The Evansville journal. (Evansville, Ind.) 1834-184?, 1844-06-20
THE aBANK %CANDlDATE.n

- J 49, 0OO60
the passage of the charter of the monster
Bank ofthe u. States, which was vetoed by
Gen. jackson; assert that he did SO under
positive Instructions from his State (which he
obeyed, though not in accordance with his
own opinion. Let us enquire if this excuse
is founded in truth.
The instructions may be found in Niles
Register, vol 40, page 274, and run thus:
sAnd be it further resolved, &c. That
connected as the prosperity Of agriculture
and manufactures are with the successful
financial operations and sound currency of
the country, we view the speedy re-charter-
ing of the Bank of the United States as of
vital Importance to the public welfare"
This was the last of a series of resolutions
passed by the Legislature of Pennsylvania.
The others relate 10 protective duties."-
These instructions do not appear to be very
positive. But no matter, Mr.. Dallas present
ed them to the Senate, and on the 9th Jan.
1882, he also presented the memorial
of the Bank for removal of its
charter. In doing so he doubted wheth-
err the time was the proper one, in which to
introduce the subject, and said:
"He became, therefore, a willing, as he
was virtually an instructed agent, in promot-
ing, 70 the extent of his humble ability, an
object which, however dangerously timed its
introduction might seem, was in itself, as
he conceived, entitled to every considera-
ton and favor.'-Cong. Debates, vol s, page
SIS.
This memorial was referred to a commit
tee of five, of which Mr.. Dallas was Chair
man. On the 18th of March he reported a
bill to re-charter the Bank, for fifteen years.
BY this bill the bank was 10 pay the Govern
ment a bonus of S50O,000, in three annual
instruments. Having thus given birth TO "the
monster" Mr.. Dallas nursed it carefully with
~paternal fondness. On the 9th of May, he
gave notice in the Senate, that he would
move to take up the bill on Tuesday then
next. On the 23d of May,the bill being un-
der consideration, Mr.. Dallas led off in a
speech in favor-S vol, Reg. Of Debats, p.
943 10 $50. Here is an extract from this
speech:
"The essential & paramount objects forthe
enactment of the charter of the bank, in 1916
were doubtless well remembered by the Sen
ators present. They were, the establish
ment of a sound and uniform national cur
rency; the creation of a fit instrument for
the collection and distribution Of the public
revenue the restoration of specie payments,
then unlawfully suspended by all the State
Banks, the sole manufactures of the circu-
lating medium ;and the designation of a safe
agency wherewith to facilitate the general f.
~nancial operations of the Government. Ev
cry hours experience, since the declaration
of independence, had proved the vast i'm
p~ortance of these objects, from the creation
to. the Bank of North America, under the
auspices of Robert Morris, in 1881, to that
of the first Bank of the United States, pro-
, ljected by Alexander Hamilton in 1871, and
especially during the five years of peace
and of war which interyened between the
S expiration of the charterin 1911, and it:
revival in a new form in 1916. During the
k forty-three years which have elapsed since
the adoption of the Constitution, the coun
e try has been without a national bank only
seven years the national object adverted to
q were, of course, for those seven years wholly
neglected; and it can be asserted without
danger or denial, that five of those year:
teemed with more. commercial disaster, ifs
cal embarrassment, trading inconvenience
- anu AiouNuiCnt hlOhOy ACKNOWLEDGEMENTS WIZ
n witnessed before, or than can possibly be
witnessed during the existence of a wisely
e and discreetly administered Bank of the
United States. He Mr. D.. forebore max
ing references to historical facts, furthe
than was absolutely necessary. They were
familiar in the actual experience, and fresl
in the memory of those who he addressed
and they were abundant to prove the vast
the vital importance ofthe objects contem
plated by the charter of1916."
v. How willingly Mr.. Dallas obeyed his in
structions, and how naturally ''Every hour
y experience since the declaration ofindepen
dence had proved the vast Importance Of
r the Bank!
r Let US see how this instructed Senator
n acting against his own convictions, voted?
II. proposition was made TO change the honu
le from S5OO,OO0 to $500, 900 a year for l.
E. years, making $4,000, 0OO-a magnifcen
E. corruption fund.- to be distributed amon
at the States? yes, arevenue of So ,000, 900 col
le lected and to be distributed among the States
unconstitutional as itmight be. For this Nj
ID Dallas voted!
E. The bill, as reported, required the consen
of the States for the establishment of branch
es within them. On the Goth May a motto
was made to strike out this provision, an
to confer the power of establishing brar
ches within a state without its consent
D, Mr.. Dallas voted for this and the motion pre-
vailed.
IS, On the 9th of June, Judge White of Ter
IT. ~nessee, moved to amend the bill, so as I
er, require the Bank 10 pay interest on deposite
when they exceeded $l,000,O00. This wa
n lost: MIR. Dallas voting in the NEGATIVE. an