The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-10-04

pso.syIvunia and the Veto Power.-sinon Snyder.
Iii now upwards Of thirty four years since Simon Sny
der governor of Pennsy refused TO sign the famous
..mammoth bank bll' comforting charters upon FORTY
ONE new banking corporations, and returned it to the
LEGISLATURE with his objections. We publish below a
copy of his VETO MESSAGE, and commend it worthy
attentive perusa well account OF the sound repub
lean doctrines it ncucaes, for the startling evidence
presents 10 show how necessary 10 the safety of the
oeope is the preservation of this conservative power in
tbe hands of a Chief Magistrate elected by the people
themselves for their own benefit But for the fearless
and able exercise of this power by the Executive of
Pennsylvania at that early period and peculiar conunc
ure the prevailing reckless spirit of speculation would
have involved the honest and industrious classes of the
prosperous old Commonwealth in utter rretrievabe ruin
and would have affixed mark upon the wellestablished
character for strict integrity of the State itself, which
would have taken long time to efface
Simon Snyder! His name and character still deeply
seated in the affections OF the people of Pennsylvania
Old men there still speak feelngy of the good old days
of Simon Snyder. The rising generation cherish and
venerae in all their freshness, his and his prnc
PIES Thousands of sturdy democrats, who now, in the
vgo Of manhood are battling for Cass and Butler and
Iongsreth and Painter, and in the promotion of demo-
cratic success throughout the Commonwealth in their
boyhood days made the wekn ring with the old song
adopted as their ''batle-cTy"
Now rally close round the American banner,
And huzza for Old Simon, the farmer and tanner"
Yes, he was farmer and tanner; and the federal
party opposed 10 his election denounced him supid
Dutchman" But he three times elected governor of
the great State of Pennsylvania His veto Of the 'mam
moth bank b written in the last year of his sec
ond term and in October of that year he again elected
for the last three years of has constitutional term, by ma
iority of TWENTY THOUSAND over his "FEDERAL AND
QuID" opponent.
Thus was the veto message" of Simon Snyder glor-
ousy approved by the people-the stern and honest de-
mocacy of The old keystone Stae-in defiance of the in
Auence and power of the legislature, whose cupidity
uumphed over their honesty! Let this power be care
fully guarded and cherished by the people-for it is
THEIR POWER! The platform" erected by the oppo-
son, rests alone upon its destruction. But the people
will preserve it. In Pennsylvania, concerning which
this article is written SIMON SNYDER MAJORITY will be
given the 10th of this month for MoRR LoNcsTRErH,
the to the gubernatoria chairand the
18th of November for LEWIS CAss and WILLIAM O. BUT
LER as President and Vice President of the United States
Now read the veto message:
TO the Senate and House of Representatives of the Common
,ceaIth Of Pennsylvania:
The bin entitled "An regulate banks present
ed to me for my appreciation the 9th instant. have
given to lis consideration all the faculties of my mind and
the feelings of heart and regret that my convic
tons OF duty to the community will not permit me to APP
Of its passage into law In returning the bill as do
for reconsideration, respectfully refer the legislature the
objections transmitted March the l9 1Sl3 against the bill
entitled "An establish general system of banking
These objections apply to the present bill with additional
force, because it contemplated the establishment OF much
IF
ing farther and wider the baleul effects which cannot
but think inevitable from such an establishment.
In addition TO the objections the journals of the last
session. will briefly remark, that although the system ha
been year before elowecitizen yet have of
them requested that it shall become the law of the State
and cannot divcst myself of the fear that if it be-
come law, it would tend only enrich the eaihy and
the peeuafor while it would in various forms, heap bur
dens on the poor and the Industrious.
Permit hazard ~ opinion, that changes of law
ve great effect popular government to weaken its
oce by preventing destroying habits steady opera
on gives force to laws. and the acquires dig
nifty and respect in proportion its uniformity of proceed
ing This bill, presume, will produce in society
happy effect legases the of Illegal associations
and proves the weakness of the govenmentnay carries
on its face warrant for the inracon OF tho restrictive
provision it contains, and in my opinion goes far
courage the infraction of all law.
1t is fact well ascertaned that immense sums of specie
have been drawn from the banks in Pennsylvania and
tain other States pay balances for British goods which
eastern mercantile cupdy has Struggled into the United
States The demand for specie has in consequence BEEN
and Is still so great that the bank, in Philadelphia and in
some other parts have stopped disconnng any paper
ask patriotic legislature, Is this auspicious to
try SO vast experiment! Shall increase this pres
sure z! Shall indirectly aid internal and external
enemies destroy funds and embarrass tho govern
ment by the creating Of foryone banks, which must
nave recourse for specie taready much exhausted
surcef Is there AZ this time intelligent Penn
Vana who believes that bank note Of any cripton is
Tue representative of specie? Is there just ground for
lear knowledge that fortyonc banks, having
nominal capital OF more than millions OF dollars
upon the bare payment ofoneh part shall have the right
V Inclination to do cannot be doubted, under the
dominant spirit of specnlaon) throw into circulation
additional overwhelming food of paper will totally destroy
the remaining confidence in that medium and will not a |
hoardlng of specie and runous depreciation of bank
notes be the natural consequence of such Of things
on the ground of principle, generally, may confidently
say that INDUSTRY is the only permanent Of ,ccath
secures subsistence and advances interests by slow
yet sure anl regular gans am the best peserva,ve of
morals Not so speculation which this bill seems to invite
II has the direct contrary eect depending fixed
principle, 1t opens field for the exercise of ingenuity
ever on the alert take advantage of the ucary in the
cdenta variation of things. The of the
TOR by profession, tempts the and for
sake his accustomed honest pursuits Launched the
wild sea of speculation, exposed to devations from
feciitnde. his moral principle becomes weakened and,
eventually all sense OF Communicative Justice is destroyed
mus impressed the probable consequences of the bill
IL enacted into law, should BsrRAY REposED
IN NE BY MY FRrowoIrzENs I,oere to approve of its
sage To differ from the representatives of the people is
painiul to me, but shrink from a RESPONSIBILITY |