AMERICAN TOIMTEEfc 1
CAR&SS.i.SS;
T|um*r>Av, octorkr si, i»s»i
- w - , «srfi2 , J aral.ff«?fc- ; v - -
**Nnw-our fhg |s flung to the wild wind free,
( L«t It float o’er our *fi«iht j r l:in<l,-
And the guard of its snntb’ns f.ime shall he,
Cotunibi.iVfXbww band/'* -
ron president ixVmo.-
-MARTIN -VAN-BURE-Ny- ■■
AND A-N
INDEPENDENT TREASURE.
Ks-Presjden't JActrsorffc-RcpoTla wero rife on
Saturday ans Sunday last, that this distinguished
ndividual had expired suddenly at, lits residence
noarNashville. The rumor readied Philadelphia
on Triday—but as the old veteran attended the in
auguration of Gov. Polk on the 14th inct., appar
ently in as good'Tiealth as'usual, and as the Nash
ville papers of the ICth.inst. contain no notice of.
liifc v doath, it is to bo presumed that tho report in
question is without foundation. Vve sincerely
trust that tho aged patriot is .still alive, and that ho
majryot |h'e many years to witness tho beneficial
Aesulta flowing from-the great measures of reform
which ho introduced during his eventful and-,glo
ribus adrhinistration.
Gen. William T, Rogers of ,Bucks county, is
fcpbkcn of in several of our democratic exchanges#
as tho candidate for Speaker of the Senate, now
that tho democrats have a majority. Tucro is
none more cap»Vlfv ami in Ural bod} than
he, and we should be, pleased to »oq Cen. H, fill
thc,® rtr h° situation ns Speaker, which he did at
•chairman on the memorable night of the 4th of
XFecombcr, when thc-rccroant Ppforcse, pale and
trembling with fear, besought him to take the
Chair and preserve order, whilst himself, .with hrs
•onfederates in infamy, escaped through the back
window,
TllE'BAXKS—reform.
It seems now to be conceded on ail hands that
the present banking.system is rotten and corrupt,
end that some radical and salutary reform is need-
ed to protect tho community from-tho evils that
necessarily grow out of it. This is a proposition
which all at tho same time tho public
mind is on the qui vivo as to remedy/.
Alf agree in opinion that reform is,ncedcd. —but no
two scarcely can bp found who sec eye to eye on
ihe subject of a change in the fundamental princi-
ples-of the complicated system. There is one
point, however, upon which all arom to. unite—
and that is, a personal liability on the part of the
stockholders. As tho hanks'arc at present con
ducted, there is litllo, if an}*, responsibility upon
the holdbrs of stock for the solvency of the insti
tution. A bank may break at any time, and those
.-•\vho.aro eo unfortunate as to be in possession of
its paper have no remedy whatever. Tho stock
holders who have been reaping a-harvest off the
public go scot-free, whilst the note holder may
whistle for the money to which ho is justly enti
tled. This is a serious evil, and can only be rem
edied by altering Inn law so as to make the stock
holders liable in their estates for all the debts of
the bank, A salutary measure of this kind intro-
ffuocd into the system Would have another "benofi-
trial effect; It would prevent over-issues of pa-t
'per, and maintain a duo proportion between the
specie in the vault and the notes in circulation.—
This result would necessarily follow from the a
bovc mentioned reform; for it is not to hi preaum
od that tho stockholders- of a hank, who arc in
nineteen eases out of twenty property holders;
would endanger their individual estates by launch
ing out into the boundless ocean of on irredeema
ble paper circulation. No maniwill bring certain
.and,inevitable ruin ppomhiniseffean'd his family if
he can avoid it. situation
note of the phjn6asy’ovety banjt in
the commonwcaUh'ii4^lr J privato estates were
bound for the redemption of the paper issued and
circulated by .those institutions! 'Ev‘ory;inanf wo
man and child in the community£eiup.-.answer the.
question- .Well then, make liable,
in the way above stated, and it requires'no stretch
_ of thought to conpeivocjvhat wpnid be the effect.
Instead i of flooding the country with paper to the
amount ef ten, twenty or thirty limes the amount
of specie in tficir. 'vaults- as in the ease at present,
—theatoekholdcm-woUldrrestricr'ltfE'iSguca^d'nd
would not permit more paper to go out thin what
they would at any time be able to redeem; . This
"is a legitimate Consequence which would follow
Ihe contemplated reform.
But there is another view of the" subject to bo
taken,, in. which the result flowing from the con
templated measure would be equally favorable ;.
Make tho stbckholders personally and individual.
Iy liable, and, you at once place the banks in a sit
uation, te’ ensure the-unlimited confidence of-thif
public. This is obvious and needs little afgu
meat to bring it borne to the understanding of ev
■ cry than. If ■ the holder of a note knows that ho
has every house and every aero of land belonging
to the stockholders of the bank that issued it bound
for its.rodemption, would he not rest satisfied that
the hill.was worth just money as it pur
ported on its face to pay—and-wouldnot the com
munity, -generally, have the most implicit confi
dence in an institution which had not only a spe
cie basis for its paper circulation, but also flic en
tire, property of ill] its stockholders bound for its
redemption! Unquestionably this, would bo, the
; -case-rrmnd ,if thu plan- was adopted by our State
lures In the chartering of "hanks, and if
, they were prohibited from issuing notes under
say- ten or twenty dollars, wo should hear no
moro of expansionsrand contractions of the enr
renry—-of suspensions and resumptions by the
“ ■hanks—but business would go on smoothly;
. the utmost confidence would prevail in the com
tauhity,- monetary difficulties' would cease—and
lilts barites as well as the people would be benefit
led by sripb aetatoof things. This being our o
pinion of tbo subject, we merely throw put the a
bovo bints for the reflection of those who are more
.competent than we are'' to judge of such matters.
■ Something must bo done’to roctlfy the, prevailing
evil of the times. Whcro all. are cnneerncd,ail
I> aT ? '* .Tißht W Speak—end availing ouraelyes of
\ another measure in-agltation, whichVif
T# camrid Into effect* will haro aw important-mflil
.eliCC- hereafter in regulating tiio.currency—wceel
fode'to tho INDEPENDENT TREASURY.— |
JEitf rpongtew j«*»-this Will, j£ami we rcriiy We-
' :\T7‘” -
In another column will bo found a communica
tion on the subject of banking from a correspond
ent who appears to have given some attention to
the subject. What may be the merits of tho plan
particularly recommended by him, wo arc unable
to say; but as l -‘to speak his thoughts is every free
man’s right” is a motto wo cherish, we have giv
en a place to the production ofouf friend, although.
we are pot prepared to adopt either of the projects
he recommends.
More Democratic Triumphs,— ‘The election
held in Baltimore oh Tuesday week, for two mem
bers of tho First Branch of tho City Council for
each ward, resulted in the election of 14 Democrats
and 10 Federalists; „
Mr. Thompson, the Democratic candidate, has
been elected to tho Senate of Virginia, to supply
the vacancy in tiiat body produced by thercsigna
*on of a Federal member. -This will make, ac
ceding to the Richmond Enquirer a majority cf
six on to hit ballot, in favor of the Administration,
and give*. j,hc death-blow to the prospects of trai;
tor Rives.
In tho Barn veil District, South Carolina, Mi*
Butler (Dcm.) Ihs been elected to Congress, to
supply the vacancy accasipned by tho Hon. Mr.
Elmore.- The vote was very small, and’stood for
Butler 1149—Jameson (Fed,) 220.
Tho Ball won't stop rolling no how tho Whigs
can fix it. ...
rcturncd'from his mlsaion to RussinV ~Tle arrived
at his residence in Phil^lphitf.onIThursday 1 Thursday last,
accompanied by his family. TJ O met with a most
cordial repeptitm from his friend* mid acquaintan
ces. „
Many of tho federal newspapers, as also the
banks, arc endeavoring to make it appear that the
. redemption of last year was brought about too ear
ly. The fallowing testimony, in a letter of Mr.
Biddlc written at the time, ought to settle the
qucsUoifon that point: ■ :
“Philadelphia, May 51, 1838.
“Mv Dear, Sins, In my letter of tho 7th,ult.T
stated my belief that there .could bo no - safe nor
permanent resumption of specie'payhfents by tSus
hanks,until thn policy of. the-. Government towards
them waa changed, - : c - • , • *
* “The repeal of the Specie circular by Congress
makes thatchangc*- I sec now} what until now-I
had not.socri, the means' of restoring tho currency,
“I rejoice very sincerely at the termination of
this unhappy controversy, and ; shall cordially .co
-operate with tho Government by promoting what
the -l\anks, are, I am lure/nivsious to effect—an
early resutnption of specie payments throughout
tho Onion, ~ V-
, The banks, accordingly, resumed in the month
of August thereafter—and yet now-wp are told that
the resumption was premature! . Out upon such
vile hypocrisy., 0
Resolution on Banking. — The House of Rep
resentatives of Vermont, lias before it resolutions,
declaring it inexpedient to charter or rc-charlor.
.Banking institutions, except on the following con
ditions i,
Ist. Private properly of Stockholders tohe hol
den for the redemption of bills,
2d. The failure,or refusal of a.bank-to redeem
its notes in gold and silver, to work a forfeiture'of
its charter; amj-pn the occurrence of such an event,
the Governor to make a proclamation'of the fact,
bd.-On Too snspenaionof a bank', Commission
ers to be appointed to take charge of its-offccts ahd
wind up its affairs.
-Uhl In case a person Rises through the failure
of a bank, tho President and directors of such in
stitution to bo liable to indictment for swindling;
and if found guilty, to be punished by .imprison
ment in the State Prison for from three to ton years.
sth. All charters to be made under the control of
future Legislatures; ■
—lf-some similar resolutions were passed by our
Legislature at its, next session, they would go far
to' prevent hereafter a suspension of specie pay
ments by the banks of Pennsylvania. ,
The Protested Biles. —lt is now admitted by
the advocatss of the Pennsylvania Bank of the
U. S. themselves, says the Baltimore Republican;
that its drafts upon its agents in Paris were protest
ed in consequence of its having no assets in their
hands, and not having even the bills hfj lading. fo r
the 1 cotton wliloh it professed an to ship
to them. It would have bcen’contraiy to all m'er
cantile ruloj had they accepted the bills, and the
fact must have been known to the Bank when, the
hills were drawn, that they would not be accepted.
Its conduct is, therefore, much .worse than,, that
of a common failure. IT WAS DOWNRIGHT
FRAUD.
Candor..—Wo recommend the following from
llio Chamborsburg' Whlg,a thoroughgoing opposl
tion paper, to those falsifying federal editors who.
have tried hard to raise a hurrah at (he result of the
New Jersey election! ■, .
“Some of our Whig contemporaries have raised
a.shout for New Jersey,, Wo should-have tried
It too, if wo had’nt discovered that the Locos have
near ituo thousand majority of -ihe popular vote.—
ft’s unpleasant hallooing.hefore one’s out of the
woods, especially ;lnw very dark night and-near a
graveyard;” : ■ _
Owing to the want of mills; ina
bility to got to market, from the low state of the
water, WintAT, is selling at 374 centspethnshel;
and FtoCtt- at 10 nnd'sl2 per .barrel, in tlw Kock
Hirer eoa«(iy, Illinois,;
ftovo they will do it at the ridxi'&eBsio&',) and. the
banks will Am careful to keep their paper circular
lion within hounds: they will bo afraid
risk of issoing more paper than
rddeem—fearful that their notes will
hands ojftlio oflicofs of the govern nientJ
a demand can be made upon theta wlncOT
unable to meet. The fear of this will alwd]
a tcndcncy'to keep tho banka within,
—consequently if this favorite republican
ure of Mr. Van Buren becomfcs a law, those insti
tutions from necessity mnst pursue a safe and ju
dicious course; and the public will bo preserved
from the ruinous convulsions in the currency which
have periodically occurred for the last twenty
years.
The above contains a hriof"view ; of our opinion
of the subject, without entering into details—i-wher
ther Wo are righror wrohg the public must' deter
mine. As we observed before tho present banking
System is-rotten to the. core, and requires a search
ing and thorough reform, /fho interests of the
public demand it—tho misconduct of the banks
require it—the people will that It shall bo so—-and
our Legislature must do it, or they will prove re
creant to the trust reposed in them by* their con
stituents. > ;
Mr, Dallas.—-This distinguished statesman has
“ With groat respect, yours.
. v , N. BIDDLE.
“ Hon. J, Q. Adams, Washington.”
' Subtebfuoe.—Hie Phiiadelpiua, Spirit of tho
Times says: “If trick, subterfuge end humbug,
I were ever characteristic' of man or thing; in this
country it is' With that of the United. Slates Bank;
and this, its’’ruling passion, is strong in death. —
.When requited to mark notes upon whi4h payment
has been refused-in specie, the Cashier takes the
bill in hand;c«/» a ffew hyercglyphics upon its face,
alike Void of and substance, and re
turns it. Wo presume they are intended forthe ini
tials of the .Cashier’s name, but.wo might just.a.s
readily suppose them to mean any thing else; and
in truth they had as well bo the characters of the
Chinese alphabet, for all tho validity there is in
them-. Such an act, as a pretended compliance
with the law, is a direct insult to tho commonest
understanding, and should bo so received. Why
not honestly sign the’full name,’ It is the prac
tise of other banks, and is. certainly required by.
both the letter and spirit of the law. Thcro is,
doubtless, awobjeot in it,”
The DiFFnaBHOS.—A.' cbptPmpgraty remarks V
“The pressnt suspension of specie, payments' to
tho South and West of us differs from that of 1837;
in this: then every bank stopped—now wo find
exceptions, ’as tho Patriotic Bank at Washington,
the Banks of Charleston and South Carolina in
Charleston, tho Bank of Pittsburg in Pittsburg,
tho Commercial atCihcinnali, and the Clinton and
Franklin Bank at Columbus, Ohio.”
Tho Ohio-rivet is said to bo lower af tho
present time,'that it"\tas"ever known at any pre
vious time. Navigation by. steamboats lias almost
entirely ceased, - ' '
Death is at all times'a fearful visitant.—
His appearance casts a "loom over the mirthr
ful spirit; ami chills the sunny smile upon
the cheek of beauty. And when we stand,
by the bed-side of a dying mortal :ami feel
the last grasp, and listen to the valedictory
of the departing spirit,- we arc ready, in
view of the pleasures of earth, to cry out
•‘all is vanity and vexation of spirit.”—
"Forcibly dhf the sadness and. depression, at
tendant upon (he exit of a dying’ one, come
over ns -as we witnessed the‘departure,
jp.few evenings ago, of that venerable old
Lady, the Unitup States Bank, iilTlio.SOlh
year of her age. For several years previous
to her decease, a .black and yellow melan
choly had seized upon her, which led her
numerous and anxious - friends to anticipate
the most terrible consequences. To ward
off, if possible, the descending blow, recourse
was had .to medical,aid. The illustrious Dr.
Jackson, whose" Tame wils -hulled throughout
the land, and whose prcscriptjon3 \veroj.ini-
Wrsally found' tu be efficacious, was calked
in. Perceiving at a glance her debilitated
condition and the wcak state of hqr nerves,
he adyised her to seek the calm of private
life, and live remotC| from the toil and strife
of a busy and interested world. Unfortu
nately, the peculiar disposition of the old.
Lady, ; combined with -the persuasions of a
' Ct Tuiri quack, named Dr. Biddle, led her to
reject <|da salutary advice. Being taught to
believe t(«t extreme exercise and unceasing
activity ,wou‘.a eventuate in her complete
rcstoratibn, she buook herself with alacrity
to labor; and in attempting (o lift an unusu-.
ally large bale of cotton she “induced an
over-circulation, or (on great an issue.”—
“Draughts both sedative and restrictive
were applied, but all in vain 1 T)uv' m ,r the
whofc period-of her sickness, she was
fully afflicted with iosth’enc'ss, unusual flatu
lence, eructations, and wandering pains in
the bowels. These symptoms were attended
with loss of appetite, vomiting, watchfulness,
and prostration of strength. In order to re
lieve her blood-letting was attempted; but,
owing to the frequency of former "draws,”
her vessels were unable to meet (he present
"demand.” Gentle enf&tics, such as ipecac
uanha and tartar emetic,.were employed; and
afterwards the morbid and noxious "contents
of the intestines were attempted to be ex
pelled by cathartics. But, in despite of all
"these things, her sepulchral voice, her hollow
cough and spirting of blood, told too wel|,
.of her approaching dissolution; And to com
plete her woes, it .was ascertained Mint the
ißens” of her stomach had diminished ip
number; and that in- consequence of, disor
dered inhalation, she found herself totally
unable toresist the external "pressure”.
- Feeling her latter end approaching she
called around her coiich her liege sub
jects and adherents. Raising herself up,
she thus addressed (hem. “My faithful
friends!, the time has come when I must-leave
you— niy fete is sealed—-the last flickcrings
of life’s taper aue just about expiring;—l had
hoped tii'live fnanyl a year, and enjoy the
fruits of my labors—but now that disease
has seized upon me, and broken the' vigor of
■my constitution—and since I have been clis
honoi'cd both ’at home and abroad—ami also
because of the rankling barb which the in
gratitude of my child has planted in my
breast, by disowningand-dcnyirig.mc, I have
no desire to stay.. For y our kindness receive
my warmest llnmks. , As to tlie cooling and
lenitive " draught kindly present me,
I can give you nothing iti “cxc/ia«ge,’ > iind
can only regret that my “promises to pay”
you cannot be fulfilled.” Her 'asc words
■were scarcely audible, and when" her lips
ceased to "move it .was fomut'that her spirit
had-fled—and the bare walls of her clay
tenement was all that remained.
Thus died Mrs. United States Bank. In
her death many have felt a severe and irre
parable loss.. Various Editors whom she
suckled at her breast; avow to the world the
extent of their misfortune, ami witli-becom
ing gratitude-cease not to lament the hard
fate which! hiiSMven them of theirstay fc’tjd
support. There'afe^sume'Senators also, and
B—d—e blpoded oncs"foo, who feelingly de
plore the calamity; ami curse the cold grave
because it has swallowed. Cvithdts ravenous
jaws, one so kind and 'tlie
terrific revulsion of ’36 she took a ;c<fpspicu
ons part, and wielded hcr influence t'dgreat
effect. 'At her lin'd, men—aye eVqn' SeKX-
Tpns—forsook their faith and tlieir plighted'
oaths, and Tell bc/ore her and vowed eternal
allegiance;—“-real estate rose and fell with
her frown ami s mile—the Eastand tlvc-Weat,
the North and the South, brought up their
treasures and emptied Them into herlap.-
T’lio : celebrated JJRuckshot AVar,” too.'iii
which so many vatiaht Generals hud military
flieroes reaped ehdpringiaurels, was the off
spring of her power,! --But she has gone." A
mighty-one has fullen;': -May her bones fist'
in peace, and may her sleep never b'edlsture
bed nor broken bV ‘the,wail'pf the brphan, br
the loikl anathema of the bankrupt and 'die-,
jpendent* -. in pace, • .
r^rr-rrrzrz*.:
' 'For. flic Foluniccr
obituary.
To the Democratic. llEruni.tCANs of. Cuh
eand County.—Some .craven hearted, crea
tures, have, I understand, been circulating a
report, since the. latecleclion, that previous
to the s.mTe, I"went to.Harrisburg.and pnn-,
ted spurious tickets. 1 pronounce the same,
to be a b'ase tend malicious fahhood. , I was j
notin Harrisburg Tor more than three months
before the last general election, nor bad 1 any
knowledge either dircctlyror intlirecl.ly. ol'
the printing of any tickets, splirious or oth-
l' was one of the boardof officers
who held the election for the' tpwiiship of
.East Pennsborough. Tickets were there; as
wellas several other townships, as Tam in
formed, having the hathe of A. Smith M’|
Kinney, and algo (he name of Abraham B;;
M’lCinney, printed thcron; -No objection 1
Was. made to this, until in the evening, after J
some' four or. five votes were counted off fur 1
the assembly, when the majority of the board,
being composed of the opposite party, resol
ved to keep separate (allies, for A.,'Smith
M’Ktnncy and Abraham S. M’Kirmey.- I
opposed Such a measure, stating lliatthe votcs
were evidently given and intended for one
and the same, person, and .that the return
judges woufd so decide: but being in (he
minority, I was overruled-ami hence, 1 sup
pose, the' story of apuriobs tickets arose.—
To the truth of this, many persons - who were '
present, can testify. lam pleased to learn
that my prediction was verified, for it seems
.thc.rclurnj.judgcs.did.give all the votes to
Mr. M’Kinncy, which was clear by the in
tention of every vote, and any'.other decis
ion would have been doing injustice fit that
gentleman. , How any democrat could har
bor, for a moment, (lie idea that't should
participate in the printing,of spurious tick
ets and circulating the same, in opposition
to the regularly nominated ticket, is to me
cxcecdingly slrangc, when it is well known
to the democracy of this country that I have
always been .i warm and zealous advocate
of tho delegate system and democratic prin
ciples. Sixteen years have now elapsed
since I first exercised (he right of sulfnige,
and I can say that I never yet voted a
scratched ticket. “
. - Lwoulil here take occasion to return my
sincere, thanks to my fellow citizens, tor
their numerous manifestations/)!' friendship
evinced towards ,mc,.prior to the assembling
of the lnle t coonty convention, for a high and
honorable station; and although their wishes
have, not been realized,at is their duty, as
well as .mine, to go on .with renewed vigour
in support of democratic ioen,irid measures..
VVe havphitt lately emerged from a serious
conflict with a desperate ami reckless set of
politicians, £iit-\Vould now-he suicidal pdfw
cy Ml falter, or lesson ms.rz.cnl one jot or tit
tle. in the cause of democracy to which wo
have always been undeviatitigly attached.'
The result of the next election will be an
important one to the whole nation, as well
as to the people of this county, and it be
hoves us as democrats to buckle on the
armor, and prepare for the contest. In the
re-election of the present chief.magistrate of.
the Union, few can doubt; blit (hat there
will he opposition, is equally certain. The
best criterion of a man’s popularity; is the
decision of the people at the ballot box. l —
recent election throughout this com
nmnweallh has’given indubitable evidence
of this fact, in relation to the general and
state administrations. Nothing is now want
ed but a steady and vigoruussppport of those
principles we have heretofore maintained,
and victory must again crown our efforts.
DAVID IfUMiS.
K PcnnsborpUgh Oct. 21, 1839 i , ,
For the Votanleef,
IJmpahalUu/kd Meanness.— -It is well
known to the of Carlisle, that the
Trustees- of the Methodist Church have
nearly finished one nf the most beautiful and
important improvements in our Borough.--
This is.the rcmoddeling, enlarging am) beau
tifying their Church. They have shown great
taste and liberality in this matter. And yet
some persons were so mean nnd dastard,
during public worship last Sabbath evening,
as to injure both of the columns" which are
to adorn the tonic Portico. This they did
by sticking their canes into the plastering
before it has become firm. tVill you Messrs,
editors, express myniimf to these feltowsf
perhaps it will make them ashamed ofthem
selves, or"put them on their guard.
PUBLIC SPIRIT.
For the Volunteer
Messrs. Editors: Since the late suspension
(if.spccie payments. by lhc_Uaiiks, 1 have
been examining more particularly than I
ever did before, into the monetary concerns
.of our country; and, if l am not. egrcgiottsly
mistaken, they stand thus, viz: Troirt the
reports made in November last by the banks,
they have.a circulation of, and owe to depos
itors («Inch is I believe about the shine thing,)
eight ilollarSf\n paper for every silver dollar
they have in (licit- vaults to redeem it withal!
Is this-bafikiiig on a specie basis? and what,
guarantee; Task, has the Community for the
redemption of evert this one eighth} Noth
ing, I am free to assert, but the moral integ
rity of the stockholders; ' . • .
It Is said, nnd-1 believe with truth, that
money is only (lie representative of labor
and property. If so, where is the objection
to banking on a lieul Estate basis, as they
have done in Holland for two centuries past,
and which still continues-to be in the best
credit of any other banking institutions, in
the world, I would, therefore call the at
tention of the people generally to this sub
ject, and ask of them the quesfmu.why don’t
you make your own'money?. Will it impov
erish your soil to pledge it as a banking se
curity: it does not dosoin tlolland, and
the husbandman and hoUsehtildef reap an tm
teresf for tlie soil he cultivates and the house
he lives in. - We have not,in my opinion, a
sufficient quantity"qf specie in this country
to answer the purposes of commerce—anil,
even admitting we had, oiir country is* of
such wide extent that it would, tc say the,
feast of it, be inconvenient tore very purpose.
W'e haye enougiv tor change, but no .more:
Then I Say, give T .ns a .National. Bank; ori
National funds and National, credit, the
officerstqpe elected by the people^—arid lo
cal banks,? founded ofi real: estate and a
specie basis, sp faV aa’it can be procured, and
I believe aU wiil be right in a-short time,
tlwt our pres*
entßartkiligaystemiSadarigerousonc—and
till wilfatbnitthat It ought to be corrected,
inasmflchfttd iT^vcs;t6 : banking, instiluHons.
tights which thecoinmuiiity do riot enjoy;
s.ucK ns ivith tiicin to pay'
their notes on derriarid, pr
e-,v J - _ ■ , IE A:
sumo, will 'say that we arc prepared for an
entire metallic currency, for the reasons i
’have already given—as alsbby reason that
it would reduce the value of'properly as i
is to-8, and bring; immediate ruin oh all
men iti debt apd in;extensivc-business. It
is- higlf time, wo were Up, and doing—for I
beUcve. our monetary concerns have come
lb an alarming crisis.
_ 01S EOF YOUR .SUBSCRIBERS.
THE BANKS AND THE PEOPLE.' .
Banka, properly'conalitntcd,.
I ctl by legislative enactir.eiits. nrniy be-madc.-
* subservient to 'public as' well as' jirivate in-'
| tere'sfs; but banks,' managed as/they have
Ibeefi- the'last'fewy.ears;a're:
' prodiicffvc* of serious damage to tlie'public,'
1 anil only profitable to the sharpers who con
jtrol, and Ibe speculators who uscthem v .fou
j their [i livate brnrfit. That-the first and !e
-gitinmte object'of banking has been perver
ted by these men, ho one denie.s'-“-and yet,’.:
with a singular a;large portiop-i
oh business inen, have contended againstthe
efforts' of the democratic parly to bring about
a healthy reformation. In the revulsions of
1834 and ’ST, one would have supposed (hat
enough had been seen and felt of bank mis
management to cause a change in the con
duct of such nien—to have convinced them
of the utter hopelessness of ever, witnessing,
steady amhpermanent business limes, until
the strong arm of the.) aw. took hol’d of tlieir
practises, and held over them, the rod of j
correction-. But with few exceptions, such
men were induced,-either through fear or,
favor to continue to bolster up this hank cor
ruption, though often at the sacrifice of their j
own interests. They abused arid vilified the
democratic party/ misrepresented' their rwo*-
lives and object, and charged theni with die;
secret interUidtiijf breaking down the “cred*
it system,’’ and ruining the business of the
country. They denied the fact, that -the,
country was ripening for another explosion,
through the hotbed influence of partial legis
lation,- and that an Independent Treasury,
wlncb is calculated (o-check excessive i.nl
portutions and -redundant issues of paper
money, Was only an attempt to throw the .
country back into the dark ages of iron morieC.
But the recent failure of the boasted “Reg-* ;
ulatlov” has in a measure brought many to
tlieir senses, arid they nuw.acknpwledgc that
they built tlieir bouses on the sand. The
disclosures of (ho Swindling operations, of
that hank have startled them, and they are
now (tioddlyjiyhe sure) enquiring whether
'there are inure banks of the same kidney
from whom the same results may be cxpect-i,
ctl. They wdll riow find that every rotten
bank in tins country will make the explosion
of die U. S. Bank a cover for its own weak
ness, atul settle down upon its vaults- with
the plea of .“compulsion',” in die hopes of
hiding its nakedness in, what will be called
by designing men, “a great calamity.’.’—
But the Rubicon has been passed, and the
people will not n(iw be sa(iS(ieil’\vitli 'such
shallow pretences for refusing to pay their
debts, Whatis a bank good for, that' can
not pay its debts? that close's its doors when
ever it observes a Creditor coining towards
it? A bank, to be worth anything, should ,
be something for a community to rtiy upon
in times of pecuniary distress—not an engine
of death, to be turned upon the public, in
times of trouble. And why is this so? Be
cause many of these institutions) instead of
assisting individuals it) business, become so
entangled in schemes of. spccldatitih, that
they cannot on any sbddeh < mevgcncy even
help themselves. The law of self preserva
tion, is of course-the first with tlienij and
the sacrifice of their customers becomes nec
essary,, in their view to avert their own de
struction. Now, in our upinita r the sooner
such banks break;.the better for the commu
nity—it will make die good ones better,
while (lie rubbish will be.blpwn away.
No solvent banks will; follow in the foot
steps of the "Great Rxptodcr,”and the peo
ple may welt doubt (lie resources of those
that do. As well might all business men
shut up shop, because a swindler lias briikol
down, as on honest and solvent bank refurie
payment of its notes, because a nierc shaVjmg
shop had gone the length of its rope. AVe
would-visit speedy retribution, upon all such
offenders-whiln-we-wmiid-throw mi obstacles
in the way uf those'who’are at all times
ready ami willing to do their duty. Wo
say iigiin let tile rottUit ones gu—tliVy. tjevor
wdl huve a belief-time to sink from public
execration, and let: them, have a good, nil:
dance. They will be immediately .bound
to the-ex
ecutioner—at. least in all states where dem
ocratic legislatures have the' handling of
them* Ncw l/aoeii Feginlir.
- The toUo.wung rcniarks were ipadeby Mr.
Buchanan in the U. S. Seriate, during' the
suspension of 18S7. They are ail well
worth reading now, for (hey.show the conse
quences of pm- neglect pf measures of reform,
when they wore so imperatively called fort
That-which.the.speAkcv..furctoli] .as'inevita
ble unless correctives:were applied ta the
banking system,,has come-to pass, sooner
perhaps than Was anticipated. ■ ..
'The Bauks.by-their lefusal to pay specie; l
have now placed themselves within the pow
er of the State Governments. They have tor-,
feited their charters,. 01111 it now remains for
the ditlinent Legislatures to decide upon
wliat terms they shall Be restored.: Amidst
the general .misfortunes of the country.'jt sft’
one source of consolation . that' the "banks
have placed themselves." with id thejfott-er of
the people. Had they not donc-thisf by ,their
own cotiduct, we know that ri'iuimerous and.;
poweidul.parly exists in'this Country who'
.considef.a. charter.of incorporation so shcretl
that no Stale Legislature, by any. future law;
could ever restrict their own banks from is
suing notes Under ten dollars, if their charter
aufliofijttid: them to issue notes pf ,a less 'tie-'
nomination. According to the doctrines of
this .parly, all povver over the papei; circula
tion, of this country,- which ift .one. of the
highest.attribu tvs ot sovereignty belonging to
the-States, has, by them,- Been irrevocably
transferred to eight hundred banks*' . Thank
Heaven!. eVcry difficulty on that subject is
now removed; arid, it will depend Upon the
wisdom arid firmness of, these Legislatures,
whether we, shall, have a sound pappretin'en
cy in time to come, proportioned inamount
to the wants of’ the penple. and 'plncing tlie
banks’ themselvesm -a secure -Condition; or
whether,wy ahaibagpln.beovcrwhelmedwith
a elelugfe'of pPpeT mortey W.ith all;its atto
dant evils; HthcyivilTbuthecutea specie
basis for our paper cirQulnlion; by. prolubi
tinjv the Usup of banlt faptes;?Swt nndftr
ten (lollarav ahd after under 20; if. they will
render the,sfock^dc^fSafilts'yeflonalfy
responsible, at least for the amount of dotes
tvhich they may issuer if theyr'wilfffotilth6-
tlividends of (he banks to a ichsonabld/prolf-'--
it on (ha investment of' the stockholders-nt"
(hey-wjf- require thebnnksio kebp adjust'-'
proportion Of specie in (heir vaults'compart -
ed with-their circulation and deposited; amp
above all, if they \yill .adjust- -tlic-whblo
amo tonk-.ndfas loißevJssuc'd (o' the"
yiyants of' the people,-..(rpuh, principles,whieliV
'have been sanctioned by cipmenfce sO as (tv
pieye nt rmnotis-(luctunti^B'intUp: ; ahtpUnt
Of' our •cu'rrehryvdlicrfSfi^.ccdthe evils
which we have Suffered will be compensated
hyil'tlteißtncfits we are ‘destined ft' eftjdy.—
Jsg.t r confess I dread the result.WtfOrO.,
a veVy. s'tranjie people; ''ffie lessons of.
pcrience inake'but a feeble impression on',
our ndbdfe. \Vc rise with so much' btioyati--
cy froiir'bur -misfortunes, that when they
have passed away (hey arc instantly forgot
ten-. Should the banks resume-specie pay
ments before .or shoV.tly. after the next meet
ing (if opr State Legislatures, ami tbc ciir
rent begin to -tun smoothly again, 1 feac
{thatno-such changes will be made in thO
existing bank charters; and that we must
await this .eVcut of.another'crisis, which
■would be inevitable.’’
Jllinh Fis!icri/.--lt \s statcd.lhat the wholi
-number of-wssels engaged in (he whaleJislir
• rt:y, frofti tin: United Stales, in September
| last, was 0,57—0 f wiii'ch 451? arc: ships and
ba!{jues,,aml 30 brigs and schooners, making;
an aggregate of IbO.PHS tons; ami tlio oMi--
Hinted viiltvc of the Whnle anU ppenn oil ami
wlialtybiiiiOi iinporlcd into 1 the' U. States dpi
ring'the last four years, is staled to bc;i-lil'
163.5,,t0tal value in -168(>,'&5t‘—
68D v 8 )-4;in 18G?, 5r,355 - ,535t.m I«£6,
)5G,057. JJulliinoie &'wi.
Jijfuira in Nni' York. —A letter (o tiirt
rliiliiilolpliiii North American, dated New
York, .Tuesday, 4 IVM.,' ' a/yss — • ,
The largest faililie \ve have luul yet, 6c
curved ptv Saturday'; the extensive dry goods
.jobbinghpuse of Doreinus, Sliydam & N non.
riiv'Y owed is said .4400,(100, and show as=-
peisYor:"fePOO ,000 or moro.* There are
imi tires' lids week that I know of..
■ Since Cienessee flollr lias to $G there
hate been targe spies for- exportation. Hut
(be receipts are haw 10,000 barrels ri day, so
that they overpower even liberal pure liasers,
and the price is inclined to go beyond, the
present rate-.
Jersey,.-and Northern-Corn' SoarXcis,—4
'Southern "oaTO. 1 have heard of no sales
of Southern-djotir to-day'. The donirstid ,
manufacturers are buying consider!,hie cut
ton. ' .
Wr
ivr
On Tiii’srli. if, 'the 22iJ insl. by the Ilev. Vft ~
T. B|.'i(ile, / irtr.rjSJiiinnon Usq. to Miss
Harriet M. Trega, both of Uiohirisoii towni
ship.
On Thursday, the 24th iusf.by tlie same#
Mr. David Grier, mere bant, (o M iss Jane
Moore, all'of this jilact*.
On Tlinrsdiiy the ITtfi inst. in Micliimics
lii’ffr, by tlie Rev; N. J. Siroh, Mr. John
Kthnorc, to Miss JJllzußdh Hurt, bolls of
the vicinity of Lisbilnu *
On the ‘-t'iil insl. liV 1 1 - .;.' sumo, Mr. Ralis
btiri/ •Slicirmni'n, nearGreetivilluge, tn Miss
Rebecca drove, of Strashurg I'Vanklin co.
On tjic 24th inst. hy the same, Mr. Johti
Ihrl-zVer ,. to- A!‘iss Freni/ Rib, both ul this,
tollniv.
3132:
i Oft tW 1 Slli September, M’rt Philip Zieg
ler-, ftf Ninth Middleton township, in tint
7bih ygrTo rills age.
/ Cofntnnnicnicth
at 'BfiltiHime on (he 14th hist; ift
One 271 h year of. his age. Lieutenant ( /titles
fiS. Ritlgely of'the U, 6; .Navy, son of OenV.
C-S-Rtdgely of Anne Ammile county, MiL
In the death of this young and promising
officer the service has met with a setitius less,
and will deeply anil long regret with his
family and friends the pritattiin they have
.sustained. With his family ami Iticniis he
was justly hi loved,.anil when on-duty nt Sen
there wencTow could compete with hull; Hri
wins esteemed by his superiors ami • beloved
by all oVer whom he had- at times command.-
If is a consolation to his friends to think'that
althn? ciit off’in the prime of life he is cn-
j dying that peace' anjl .quietness which,
tends those who perfijfin, (hair duty and are
ready Id answer their master.
3AKQA3SS, BAUGjiIK-f;
" ‘MVEV .
, CHEAP HR THAIS liver </ •.
. THE subscriber-has just: npent'd a very'largfi.
and sph mlfd' assiii tioeiif of i ' ;; ; '
sviiL-. A -i:D wiitesp.-goobW '
cmiMsiuig in part.of ClotlTs," C<is«inieVTs v(jjiSM
viK*iis, Plain and Figured Uouib zii is.
Prince de L iiiirs,'S:»xt*uy do:* CambHcs, Mus s
Uns,.U'(\ndKv ri hut's, lliisudy* i. ; n - f . . r
Groceries &' tyuccnsicni’c. .V-'
His ciistotiiers-'aitd t4ie : public generally,. nrc
vnpcctfully solicited td call and avii Mu-msl-lvis
ofcheajr as he is determined to sell
Uiyi\ • .• •. , ‘ l ' V- •’ ; '•
: . a.uichakds.
CuvfisVe; Ort.‘3 lv ■
, %■■■ i-A-'T-TE HIT!
SPIITifGFIJILIi. LttinT jNPANTkT ;
* j. ■: J’aijule in r StVsi>«f?>wi» ,'
JL •
JH -•Ai.'M.' prn|ierW yq'>'prfar(lnn.ii.,;, ; . c ;
-By ordcf ot:tlre (•awaij«;^,V
las' : iOHW:KKOj?XCK.
| fif • , . n ', ;> ,., ;r;^,! o. < iSer)'ranti '
“ If', N; fii ah'ptrti»Will; : 6fe held oi*
.uy tlieJSiuPp^
-v -"Jlatqie'df Philip Ztdgler; deciaa^i
■;
A T;L perarm* knowing ihiMi setv\a» to he ini '
■(lcl)fr(l : >(i the-«.'staie,nf , s!ii<l : ileteati'tt «ill
.i.wßepa#toMft!hnr &lf of -Decern--' -
tier next.’Snililliose having ijhjuns'against sfiM
ealote Jjrf jiSrly authenticated • ■:
fdif SL'llltoifflt, ;it llif;latt‘ r('auWiioa nt 3aUl (it'Ci- '.
I 4 ' -John Zdgkr A ' ,- •
. tfSrMdiri.'Zetglaft'
, , . ~ ’
rt\ David Zeiglet, ■.
’ Philip Zti'gleri • . -,Ui
'-‘0ct0ber31,4839.-'.'-'
,-■6*