The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-05-14

in passing similar laws, IL renamed simply State
institutions although arrogatng itself the rights Of
a national bank under the stes ordinance of the
Continental Congress.
The State Of Massachusetts had, on the 9Th of
March, 1852, in pursuance of the recommendation
of Congress, passed AN act Incorporating the Bank
OF North America, and providing that, during the
war, no other bank should be allowed in the COM
monwealth, unless either of the United States should
curing the said war; permit any other bank to be
tablishef within the same
On the 7th Of February, 1884, the legislation Of
massachusetts incorporated the Massachusetts Bank
which was the second State bank All these acts
were very loosely drawn, containing few or no re-
strctons, and appearing to repose entire confidence
IN the wisdom and honesty of The managers Of these
institutions. --tt.,
These two corporations have been the germs of
two national banks and some hundreds OF State
banks Of circulation, discount, and deposit.
The original Bank Of North America was the
scheme of Mr.. Robert Norris aided by Mr. Gou-
verneur Morris; and Alexander Hamilton had pre-
viousy submitted plan for very large national
bank to Mr.. Morris. II is well known that Gene
ral Washington consulted Mr. Robert Morris as to
the appointment Of his Secretary of the Treasury,
and think he was DESTROYS that that gentleman
should accept the post Mr.. Morris, at all events,
recommended General Hamilton as person pecu-
that he must have looked to the establishment of a
national bank by his protege, despite the prohibtve
silence Of the constitution.
The first national bank, therefore, in l79l grew
naturally out of project of the secretary ten years
old and it is not singular that he should have press
ed il with energy, as his tendencies were towards
strong consolidated government and the banking and
funding system Of England.
From another correspondent
PmLADEIPHIA, May IL, l645.
ournew naval officer (Col. Welsh) took the oath
of Office on Saturday, and DR.. Lehman entered up
on his duties as postmaster this morning. learn
that Mr. Horn will supersede Judge Blythe, as col
lector, on or about the 18th instant. 1t is in the
highest degree gratifying to notice the universal sat
isfaction with which these appointments have been
received by our democratic friends, and the COM
munity generally. Mr.. Welsh and DR.. Lehman
are extensively known as intelligent and practical
business men; and, without disparagement to any Of
their competitors it may be said that better for
the stations they respectively occupy could not have
been selected. The name Of Henry Horn, the col
lector, is familiar as "househod wordn with our
democracy and the sterling, independent political
honesty which has ever characterized him, COM
bined with his unquestoned and unquestionable per-
sonal integrity, renders his appointment the re-
sponsible post which the President has assigned
him peculiarly acceptable. Efforts have been made,
and are stll making, by designing individuals, to
the thought") in selecting his subordinates, Mr..
Horn will choose only from among certain class
of our political brethren; but think know the
new collector well enough to feel assured that, in
the distribution of the patronage Of his Office, he
will permit no such narrow-mindcd or bigoted views
to govern his policy. That he will fill the places in
his gift with sound and efficient democrats, is not to
be doubted; indeed his life and character guaranty
this much; but they greatly mistake the man, who
expect him to limit his fayors to any particular sec
tion or clique of our democracy, or create any dis
tinctons among those whose labors and exertions
H.
popular national administration. My word for it,
Mr.. Horn will pursue liberal and honorable
of action, and thus prove himself every way
worthy of the station to which he has been called,
and gain the united appreciation of the whole demo-
cratic party. The good will of our business men,
generally, will be insured by what know he will
gve-an untiring and faithful application to the du-
ties of his office.
Your regular correspondent has, l perceive, mo-
ticed argument made in the supreme court of this
State, the question Of an injunction asked for by
the city Of Philadelphia to prevent the district Of
Spring Garden from using the water of the river
Schuykll to supply the reservoir Of the new works
constructed by that district. The decision has not
yet transpired; but the impression exists that the
counsel for Spring Garden SO utterly demolished all
and every claim, pretended claim, which the city
Makes or can make, to the exclusive use Of the
waters of the Schuylkil to leave the result in no
doubt. The interests Of the city were well taken
care Of by William M. Meredith, esq, whose legal
attainments are of high order. The counsel for
the district of Spring Garden Mr.. Vice Presi-
dent Dallas and John M. Read, esq, who acquitted
themselves in an able manner, and fully sustained
their high reputation leaders at bar which num-
bers among its members many gentlemen Of COM
manding genius
You doubtless observe, from time to time, in our
city papers, proceedings Of meetings-which have,
of late, been offrequent occurrence-ofj ourneymcn
carpenters, pasterers, and other mechanics, who
demand higher wages for their labor. I am one of
those who always regard the alaborcr as worthy Of
his hire' and like to see all branches Of trade Gbe-
rally compensated. of course, therefore, have
nothing to say against the measures adopted by the
mechanics alluded to, to bring about an increase of
pay.or their labor, but advert to the subject merely
TO ask you to note tas of the indications which
are continually presenting themselves, of another
imitation of trade through the influence Of bank fa-
ciliics. The banks here-especially those which
hold government deposits in large amounts loan
money literally Upon these louns, lots are pur-
chased by spectators, and buildings commenced.
Carpenters, plasteres, and other mechanics, are in
demand, and when their services are thus urgently
required, it is but natural and proper that they
should expect TO be well paid Is there not, how
ever to fear that there is danger of another
approaching imitation, even in despite of the past
bitter lessons Of experience which our people have
been taught At all events, an examination Of the
"signs of the times" has induced many of the think
ing portion of our community to inquire of them
selves whether the large surplus in our national
treasury might not be better employed in the pay
ment of our national liabilities, than in lying in the
vaults Of the deposit banks, to be used by them as
a basis for extending their line of discounts, and
affording facilities for artificial and ultimately ru-
nous expansion Of trade.
General jackson had the satisfaction, during his
administration, of paying off the two debts Of the
revolution and the second war of independence.
This payment and extinguishment Of the debt of
the nation should be our first effort in time Of peace,
and particularly in the case of our present debt,
which was almost entirely created when we were at
war with no power whatever, and when we
should have been on entire peace establishment,
accommodating our expenditures to our actual reve
to censurc merely, but for the benefit Of its expert
ences and we have learned that there is no
surer method of sustaining the credit of country,
than by its having no debts to pay.
All schemes to bolster up credit, and raise the