, TERMS OP PUBLICATION
02 WPpbr annumr in advance—be
gs- 50, if not paid* withintheyvar.
Nbsubscription token fpr-ti less term than six
months, and nb discontinuance permitted until
allatrearagesarepaid. A failure to. notify, a
aisconlinuance at the expiration of a term, will
lie considered a tiew-engagcment.
Advertisements —-gl 00. per square for the;
three first insertions.JUid twenty five cents .for
'evefysubsequentone* , ; ; .
" DH. WM. EVANS’.
SOOTHING SYItUP, . .
JPOR CHILDREN TEETHING;
To Mothers and Nurses.
The; passage of tiie teeth; through the gums
f reduces troublesome and dangerous symptoms,
t is known by mothers that there is great irri
tation m the mouth and gums during this, pro
cess. The oumsswell.the secretion of the saliva
is increased,’, the child is seized with frequent
and sodden fits of crying, watching, starting in
its sleep, and spasms cf peculiar parts; the child
shrieks with extreme violence, and thiusts its
fingerS into its mouth- If these precursary symp
toms are not speedily alleviated, spasmodic con
vulsions universally supervene, and - soon cause
the dissolution of the infant. If mothers who
have their little babes afflicted with these dis
tressing symptoms would apply the celebrated
Ameiican Soothing Syi up, which has presorvtd
hundreds of infants when thought-past recovery,
from being suddenly attacked with that fatal
malady convulsions.
Tills infallible remedy Ins preserved hundreds
when thought past recovery, from convulsions.
As soon as the Syrup is rubbed on the gums, the
child will recover. ■ This preparation is
cent, so efficacious, and so pleasant, that no child
will refuse to let its gums be rubbed With it.—
When infants are at the age of /bur months,
thnughthere is no appearance of teeth, one bot
tle of the syrup should be used on the gUptu to
open the pores Parents should never he with-'
out the syrup in the mirsery where there are
y oung children, for if a child, wakes in the night
with pain in the gums, the Syrup immediately
gives ease, by opening the pores and healing tile
gums; thcreby.preventing Convulsions, Fevers,
&c. '
Beware of Counterfeits.
(rj'Canlion.—Be particular in purchasing to
sec that the label of‘this medicine contains a no
tice ofitsrrtfri/ according to Act of Congress . —
And be likewise particular in obtaining them at
100 Chatham York, or from the regu
lar agents, .
s Hamilton & Grier, .CaHisle,
DR. WM; EVANS’
Camomile fi' JSpericnt Fills.
Another very severe case of Inflammatory
Uheumntism cured by Dr, Evans' lih-diciue.
Mr. John A. Carroll, of the rmintv « f Westches
ter, towivpf North Castle, New been
with inflammatory rheumatism
for fourteen months 'with violent pains in his
limbs, great heal, excessive- thirst,, dryness of
skin, fimbs much swollen, was not able without
assistance to turn in hed for six weeks.-v Had
tried various remedies to no i ffect., ,\Vas.a(jVis*
ed by a friend of fils to procure some of Dr. W.
Evans* medicines of 100 Chatham Street, N.Y.,
which he immediately sei.t for? aj,ia afiel taking
the first dose found, great relict, and in continu
ing its use according to the directions, for ten
clays, was perfectly cured. Allows me to refer
« any person to him fur the truth of the above
statement. . .
Beware of Counterfeits,
particular in purchasing to
see that the label of this medicine contains a no
tice of its entry according to Art of Cohgres s.—
And be likewise particular in obtaining them at
100 Chatham bt., Ne>v York, or from the regu
lar agedts,
Hamilton & Grier, Carlisle.
Oct. 10, 1839.
BARON VON HUTCHELER
. '..SSP.B.SILLS.
n These Pills «»re composed of Herbs, "which
exert a specific notion upon the hem t, give an
impulse or btrength lo the arterial system: the
blond is quickened ai d equalized in its circula
tions through all the vessels, whether of the skin,
the parts situated internally, or the extremitics,-
uml as all the,secretions of the body are drawn
from the blood, there is a consequent inrrease.of
every secretion, am) a quickened action bf the
absorbent and exhalenl, or discharging vessels.
Any morbidaction which may have taken place
, r. js corrected, all obstructions are removed, the
Jilond is purified, amt the body resumes a heallth*
k - fill sti*te. - ,
r : Btwmc of Counterfeits',
(nj*Caution.—Be particular in purchasing to
see that the label of this medicine contains a no
tice of its entry according to ,ict of.Congress;—
And be likewise in at
100 Chatham sh, New Vork, or tVom the regu
lar-agents, "
J Hamilton & Grier, Carlisle.
Of whom may.be had,
jyi^Jl r ntrEvonB*'CipnomitcrCf-ii/icritntPilis.-
80. Soothing Syruft.
Tir..Hunts Botanic Pills, '
I)r. Goode's Female Pills.
80. Fever and Jtsfue: Pills;
; October 10, 1839.
DR; GOODENS CELKBRATES
F EMAIiEPILIiS .
These Pills are strongly recommended to the
notice of the ladies us a safe and efficient remedy
in removing, those complaints peculiar to their
, sex,, frpni waiit of exercisepor general Debility,
, of the system. Obstructions, Suppressions, and
Irregularity ofthe Mehsesf at-the same time
strengthening, cleansing, and giving tone to the
Stomach and Bowels, and producing a hew and
, healthy, actipn throughout the system generally.'
They.create Appetite, coirecl'lhdigestion, re
move Giddiness, and Nervous Headache, and
hreemmently useful hi those flatulent complaints
.■which distress Females so much at the “Tubs'
.or;LtFE. ,, They obviate enstiveness, andcoun
, teract all Hysterical and Nervous Affections,
. likewise afford soothing and permanent relief hr
Fluoi-Albus, or Whites, an<fhi the most obsti
nate chses of Chlorosis, or Green Sickness,': they
. invariably restore the pallid and delicate female
to health and vigor. : /
Tliese Pill» liave gained the »anctihii and ap
probation bf themost eminent Physicians in, the
United States* and many mothers can likewise
-testify tolthelr extraprdinary.rfficacv,. Tomar
; rled-femalcs, whose expectatinns of tlie tendcr
est pledges, of’connubial’ happiness liaye been
defeated, 1 these Pills ntay he truly esteemed a
blissful renovate All function
•al debility * and i ftakenf according t<> directions.)
obviate all mQrbidactiQii. l ,;They diBpel that ful-'
, somß.anddiiagrteaWo; AensalioSimmmmi tbfe
itidesat each mhntlily'returm'likevdatihe at
tendant i>alnsinthe'backiiiide,orloin»titliey
generally counleracttirtmausea.vqmiting.and
■Other■Jiieryou* aftectlonp inrehlnrosis. orgreen
, sickness,io;a f«:.w days.’
diiig tOdirecti6iis,ys<><m ePVct u perfect cure!--:
pallid and;sickl» r feoiale:fwhn}ia. bf#h <hlrine
her life irregular andscusiuve) aatbe FE?FAf«E
rsiP-IXstS* l Jf. I '/?! 'T bt'WvVC^ 1 * : ' ’>■
. •. vv._ r •j'
■ V^feaikiiapf^•}*tiVefasihg to
- see that the label of tfils MediciheConiainfi'a no
~i»iet of
And Up- Ireewise jwnicurar hi nbtandngthcm hi
' f tto Ch«fmm'
- lir#g<,|, HA>liLtdN &GRiEH, Cariisle; h
S.
BY G. SANDERSON & E: CORNMAN.J
vr 8010 Up. 1 028.
DR..WM. EVANS’
, ; ;aAMpS£iLB pills. .
XT'A severe case of Piles cured at ICO Chat
ham street.— Mi*. Dan’lSpinhingbf Shrewsbury,
Eden Town, New Jersey; was severely lifnicUci
with Piles for morethan 20 years. Hadhadre
course to medicines of almost every description',
also the advice of several emmineat Physicians,
■but never found the slightest relief from any
source whatsoever, until lie called on Dr. Evans,
-of 100.Chatham street, N. V., and procured
soirie medicine from him, from which lie found
immediatt.rclief,-and .subsequently—a_peffect_
cure.. y
Beware of Counterfeits.
(CPCaution. —Be particular in .purchasing to
see that the label of this medicine contains a. no-,
lice of its entry according lo Act of Congress. —
And he likewise'particular in obtaining them’at
100 Chatham st., New York, or from the regu
lar agents,
Hamilton & Grier, Carlisle.
DR. HUNT’S
BOTANIC PILLS,
INTERESTING & APPLICABLE TO THE
AFFLICTED WITH v ’
Diseases of the -Stomach, or Nerves;
Such a Dyspepsia, either Chronic or Casual, un*
der (he*worst symptoms of restlessness? Low
ness of Spirits,’ and 1 General Emaciation; Con
sumption, whether of the Lungs or Liver; Liv
.'‘ er Affections? Jaundice,’; both Biliary & Spas
'Tiiodic? Coativcness? Worms of every variety?
Rheumatism? whether Acute or. Chronic; to
gether with Gout, Scrofula, Pains in th£llead,
Back, Limbs, ami Side,Typhus Fever, Scar
let Fever, Putrid Sore Throat, Fever'fc. Ague,
Spasmodic Palpitation of the Heart and Arte
- ties, Nervouslrvitability, Nervous Weakness,
Hysterics, Tic.Dooloureux,* Cramps,' Female.
Obstructions, Heartburn, Headache, Cough
the Common or Humid, and the Dry or the
Whooping; Asthma, Gravel, and Dropsy. ■
Thfc>ff/oo</ has hitherto been considered bv
Empirics uml”othcrs, as the great regulator of
the human system, and such is the devoted *ot
the adherents to that erroneous doctrine,, that
they content themselves with the siniple posses
sion of this.fallacious opinion, without enquiring
inti the primary sources from whence'Eife,
Health, and Vigor emanate, and, vice versa ,
pain, sickness, disease arid death. Not so with
U,u. Hunt, whose extensive research and prac
tical experience so eminently qualify him forthe
profession of which he has been one of the most
uselul members. He contends—and a moment’s
reflection will convince any reasoning mind of the:
correctness of his views—that the stomach, liv
er, and the associated organs are the primary
and great regulators of health, and that the blood
in very many instances is dependent on these or
gans, and that unless medicine renchetfSTHE
HOOT OF THE DISEASE, the sujierflcuil
anodynes usually prescribed, servcdnit"iucanils
to co\erlhe ravages of deep-rooted maladies
Under these Convictions, at the expense of ye I*
of close-application',, the doctor has discovered a
medicine whose searching powers are irresisti
ble, •and in prescribing, it is with a knowledge of
Its being a radical cure in the various diseases
already enumerated, even if applied in the most
critical cases, but he dues nut pretend to ascribe
to
HUNTS BOTANIC .
a supernatural agency, although from positive
proofs within the knowledge of hundreds, he is
prepared to shew; that when every other earth,
ly remedy has. been given up. v
HUNT’S BOTANIC PILI^S
hav6 never been known to fail in - effecting two
very gratifying results, that of raising from the
bed of sickness and disease those who have test*
ed their efficacy, and thus amply rewarding Dr.
Hunt for ids long and anxious study to alt.un this
/injection in the llkalikc Art.
The extraordinary success which has attend
ed the use of Botanic Pills, is
the best criterion of their superior virtues.
They have been the -means of raising a
' host of languishing patients from the bed
of affliction, as it is clearly evinced in the
.following
CERTIFICATES. , -
FEVER AND AGUE CURED.
7b Hr, Hunt:
Dear Sir—believing it a duty I owe you as a
successful practitioner, as well as those who may
he similarly afflicted, X take pleasure in acknow
ledging the benefit I have derived from the use
of your valuable medicine.
H UNT’SDOTANICEILLS.
After much suffering from Fever and Ague, du
ring the spring and fall, for tile Inst four years,
and the pecuniary injuries-attendant on-the in
disposition of one on whose exertions a large fa
mily was dependant foy support,: ard having
wUhout.siiccess tested the ski It of. many, medical
advisers, at an expense I could not well afford.
-Jo the fill of 1838, finding the premonitory symp
toms ol the disease approaching, Twas induced
by it Irieml who bad tried vour medicine, to pur
chase a package uf your Botanic Pills,' and now
have tiie happiness to inform you—and through
you, those who may he similarly afflicted—that
they counteracted, the disease, nor hav&X been;
troubled willi'it since and ,niy confidence con
tinues tojiph,old,me. in the belief that' your Bo
tanic Pills,are the most safe, the cheapest, most
efficacious, and radical cure for that disircssing
disease Fever and Agile. Ail I can fortbe pre
sent offer you for the blessing you have been in
strumental iii conferring on me, is niy “assurance
of unceasing gratitude and esteem.
P. M. McGORMICK-. !
'' Newark,N. J-, July 31, 1839. , 1
Dyspepsia, or Indigestion, Effectually
■ -■ . Cured.
... Mr. Win, Tucker, iiavingjateljr been restor
ed to a sound state of health; through the effica
cy of Dri Hunt's Botanic Plltt; thinks it an in
dispensable duty to state’certain facts relative to
tlie disease u nder which ho had so long suffered -'
The syntptoms were n painful obstruction, with
a constant rejection of food; head-ache, pialpith*
,'tion of.tlie heart; lowness of.spirits;:a trouble
soniedry cough, dizziness, tightness at the cheat
and difficulty of, breathing.lalitiost constant pain
in'the side,. loins,-' 1 and'shoulders', accompanied
with muchlanguor and debilityV ' These afflic
tions, together withanunusual-dcgreeof flatu.
Ic cc„br.night on such a' stateofextremeweaki
ness.as topreventhifTifrnrnaltendi]igto his hut
siness, and his; health appeared lost '-beyond -re*
cnvcryV HisfrlendV and relalivea beCnme a
larmtd at tire ihelanchnly prospect ;■ and strongly
recommended Hunt’s Botanic Pills-—they were
admjnistered. aiid in n few days prnduced astim
ishingrelief.and finally realized a perfect resto
ration to sound health. • :V,UV‘ ”
, ~; " - WIIiI;TAM TUCKER.
, ;Sewareof CotmteffKi , s. ■ '
- (CTCantioiu'—Be-particular in purchasing',in
set that the labbl nf diis
tice of its entry according to Jfc.t.i) Congreve.—
And belll(ewliepart)c.ulHr. : in«btainingthefn!it
tSfi, .Qhiphaitf st-VNe w.
lar : Bgro^'l"
i HAKft’fON&GßiEii.'Carlißlc.v
Carlisle, Pd. Thursday January 9,1840-
■|H'E::S; E:'v’ ; :
/• <• /* ■ FROM-THS;- i
President ofthe United Slates,
TO BOTH HODBES OF CONGRESS, AT THE COMMENCE-
MENT OFTHE FIRST SESSION OF THE
TWENTY-SIXTH fcONORBSS. 1
, p . (Concluded*)
The continued agitation of the question
keeping and. dis
bursing the. public money,, still injuriously
affects the business of the country. The
suspension of specie payments in 1837", ren
dered the use of deposite banks, as prescrib
ed by the act of .1836, a Source of rather em
barrassment than aid; and of necessity placed
the custody of most: of. the public, money af
terwards collected in charge of the public
officers, . The,new securities, for its safety,
which this required, were a principal cause
of my convening an extra session of Con-,
gross; but'in consequence of a disagreement
between the two Houses, neither then, nor
at any subsequent period, has there been any
legislation on the subject. The effort made
at the last session to obtain the authority of
Congress to punish the use of public money
for private purposes as a crime, a measure
attended under 7 other Governments with sig
nal advantage,-.was also unsuccessful, from
diversities of opinion in that body, notwith
standing the anxiety doubtless felt by it to
afford every, practicable security. ~ The .re
sult of this is still to leaye. the custody of
the public money without those safeguards
which have been for'several years earnestly
desired by the Executive; and as the remedy
is only to be found in the action of the Leg
islature, it imposes onane the duty of- again
submitting.to you the propriety of passing a
law,-providing forihep,safe keeping of the
public moneys, and especially to ask that; its
use for private purposes, by any officers en
trusted with it, may be.declared to be u felo
ny, punishable with penalties' proportioned
to the, magnitude of the offence. ‘ :
These circumstances, added to known de
fects in the existing laws, and unusual de
rangementin the general'operations of trade,
have, during the last three years, much in
creased the difficulties attendant'on the col
lection', keening, and disbursement of the
revenue, and. called forth corresponding ex
ertions from those having them in charge.—
Happily these have beeh. .successful beyond
expectation. Vast sums have been collect
ed and disbursed by the several Departments
with unexpected cheapness and ease; trans
fers have been readily made to every part of
the Union, however disfanl;'aud defalcations
have been far less than.might have been an
ticipated, from the absence of adequate legal
restraints. l.Siuce the officers of the Trea
sury and Post Office Departments were
charged .with thecustddy of most ofjhe pub
lic moneys received by them,, there have
been collectedusixty-six millions of dollars,
and, excluding the case of the late collector
at New York, the aggregate amount of losses
sustained in the - collection-.cannot,, it is be
lieved, exceed, sixty thousand dollars. The
defalcation of the late collector at tlmffcity,
of the extent and .circumstances of which
Congress has been fully informed, ran through
all the.modes of keeping the public money
that have been hitherto in use. and was dist
inguished by disregard of du
ty, that broke through the restraints of every
system, and cannot,.■therefore, be usefully
referred to as;a test of the comparative safe
ty of'either; Additional information will
also.be furnished by the report of theSccrc
•tary of the Treasury, in reply to a call made
upon that officer by, the House of Represen
tatives at the last session, requiring detailed
informationon the subject of defaults: by
public officers or agents under each Admin
istration, frohrl7'B9 to 1837’: This docu
ment, will be submitted to you in a few days.
The general results, (independent of the
Post Office, which is kept separately, and
.wilLbr tated by itself.) so far as they bear
ic st;
tyi'
upon this subject, are, that tile losses''which
have been,&are likely tobe, sustained,by any
class of agents, have been—the greatest by
banks, including, as required in.the resolu
tion, their depreciated -paper.-received vfor
public dues;, that the next largest have been
by disbursing officers, and: the least by coir
lectors aiid receivers. If the losses on duty
bonds ifre included, theyalbne wlir be three
fold' those by both collectbcs and receivers.
Our whole experince, therefore, furnishes the
strongest evidence that the desired - legisla
tion of .Congress.is alone wanting to inspre
in those operations the highest degree of se
curity and facility. Such also appears to
have bceirtlie experience of other'nations.
From the results .of inquiries made by the
Secretary of the Treasury in' regard to the
practice-among. them, I am enabled to. state
that in twenty-two.out of twentyvgeven for
eign Governments,' from. which undoubted
information has been obtained, the public
moneys are kept ia charge of public officers.
This : concurrence of opinion in. fayor of that
system is. perhaps nsgreat as existsonany
question of internal administration. : '
In the. modes of business and official re
straints ort disbursing officers,'nulegalchange
was . produced suspension of specie
payments..- This report last.referred towill
be found to contnin also much useful infor
mation iii relation to tltfs subject.
il have therefore assigned to Congress my
teasonsTor.believingjthat thesedtiffilisjitneiit
Jfatlonaf Treasbryivis.
contemplated by the Constitution', is, hecesi
sary to the safeaction of theFcderal ...fjbv--
ernnient.KThesuspensipn of specieipiiy
nieiiis inl 1837 j by the bankshavingithecqs
tody of-the public money .showeffiifSo a
larminga .degree ourdependerfee-onthose
ioßtitulions: fop the pecformanpetifcdutics re
quired by law, that I then ceejimwended the
recduimemlationhasbeensiibjectcd.'asl'der
sired it should be', : tb’ f severe Scrutiny aiid
low: roysel f to
nataWWif:
ycrsitießofopinionwhich-maybbanticipa-
“ODR'OOVNTay-r-lUOHT OR WRONO.” ■ ju
ted on all-subjetts involving such important
considerations,;it lias secured in its favor as
a- general- concurrence of public sentiment as
couidjje expected on onepf such magnitude..
- Recent events.have alqu continued to dc
velope - new objections to. sUch a. connection.
Seldom!is any bank, under the existing sys
tem and practice, able, to, meet; on demand,
all its liabilities for deposites-and notes in
circulation. It maintains specie payments,
and transacts,a profitable business, only ; by
theconfidencejif-the publ.ic-indts solvency;
and whenever this, is destroyed, the demands
of, its, depositors and noteholders—pressed
mure rapidly than it can, make collections
from its debtors—force; it to stop payment.
This loss of confidence vyithitsconsequcnccs
occurred in 1837, and afforded the apology
of the banks for their suspension. - The pub
lic then acquiesced-in the validity of theexr.
cuse; and, while the State Legislatures did
not exact from them their forfeited charters.
Congress, in accordance with the recommen
dation of the Executive, allowed them time
to jjiyr pver the public money they held, al
though compelled to issue Treasury notes to
supply the obficiency,thus created.
“It-now appears that, therejare other mo
tives than a want of public confidence under
which the.banks .seek to justify themselves,
in a refusal to meet their obligations. Scarce
ly were the country and Oovernment'rcliev
ed, in a degree,, from the difficulties occa
sioned by the general suspension.of 1837,
when a partial ope, occurring within thirty
months oPthq former, produced new and se
rious'embarrassments, though-it had po pal
liatiop in such circumstances as were alleg
ed in justification of that'which had previous
ly taken place. There was nothing in the.
condition of the country'to endanger a well
managed banking institution; commerce Was
deranged by no foreign war; every branch of
manufacturing industry was crowned with
rich rewards; and the moi:e,than_unusual_a
bumlunce of our harvests, after supplying
our domestic wapts.had left our granaries and
store houses filled w iiff’a surplus for.expor
tation. itis in the midst of this, that an ir-.
redeemable ami depreciated paper currency
is entailed upon the people by a large portion
of the banks. They are not driven to it by
the exhibition of a loss of public confidence,
or of a sodden pressue from their deposi tors
or_note-:holder3, but they excuse themselves
by alleging that the current of business, and
exchange with foreign countries, which draws
the precious metals from their vaults, would
require, ih orderto mcot.it, a larger curtail-;
merit of their loans to a.compardtively small
pqrUori'of.flie'coinmuniiy* than it will be
convenient for them to bear, or perhaps safe
for tho-banks to exact, The plea has ceas
ed to, be-one of necessity. Convenience and
policy are now deemed sufficient to-warrant'
these institutions in disregarding- their sol
emn obligations. Such conduct is'not mere
ly on injury-to iridividual creditors, bht.it is
n'wrong to the whole,community, from whose
■liberality they hold most valuable privileges
—whose rights they violate,whose business,
: they derange, -and the value of whose pro
perly they render unstable ariil iiisecure.—
It must be evident that this new ground for
bank suspensions, in reference to which their
action is not only disconnected,
wholly independent of, that of the. public,
gives a character to their suspensions more
alarming than any which they exhibited; be
fore, and grcafjy increases the impropriety
of relying on the bapk8 s iu the transactions
of -the Government..
A large and highly respectable portion of
our banking .institutions are, it-affords mo
unfeigned pleasure to stale, exempted from
all blame on account of this /second, delin
quency. They have,' to their great credit,
not only continued to . meet theif engage,
ments, but have even repudiated the grounds
of suspension'now resorted to. It 'is,'only,
by, such a course'that the confidence and
good will of the community can be preserv
ed, and, in tlie,sequel,- the best interests of
the institutions themselves promoted.
New dangcrs to''the~bankfiTi:re~also~daTly
disclosed from the extension of that system
of extravagant credit of’which they are the
pillars. .Formerly our foreign commerce was
principally' founded on an exchange of com
modities, including the precious metals, and
leaving in its transactions but little foreign
debt. Such 1 is not now the case. , Aided by
(lie facilities' alfuifdcdV'by the banks, mere
credit has become too commonly the basis of
trade. Many of the batiks themselves, not
content with largely, stimulating this system,
among others, have usurped the business,
while thcyMmpaic the• stability, of the mer
cantile Community: they have become bor
rowers instead of lenders; they establish their
agencies abroad; they deal largely in stocks
and - merchandise; ;t{my encourage the issue
of Siate securities until the foreign market
is glutted with them; and, -unsatisfied with
the legitimate' use of their Own capital and
the exercise of theif lawful privileges,, they
raise, by large loans,, additional'means for
every variety of speculation. The-disastgfi;
attendant on thia deviation from the'former
course, of business inthiscountry.arenow
shared alike by banks and individualsftoan;
extent of which therejs.perhapa no previous
example in fheannafs'btour country. " So
long as a willingness of the foreign-fenderi'
aniraTsufficientcxportbfourpfoductionßto
meet apy.;hfece6safy partial, pay meats', leave
thcfltttyprcredituiidisturbed,all appearafo
be prosperous; but ;as soon as it is cjhecfeed
abfoad,; oriby an inability
to • make! pay m ertt‘ therein onr| prod ftctfdns;
the evils of the system are disclosed.: The
paper-currency which ’might, serve for do
mestic purposes, . ir useless to pay the,:deW
claejn-Bilfopei' dold'and silver are there
fore drawn,-tn exchange/or theirnotesifrom
the banks. To keep up their suppjy .of coin,
-these institutions are. obliged .to'call; upon
W themiasTtliey are .to to nieet.
the fureign demand. c The cal Is of the banks,
ithefefure, in snch emergencies, of necessity,
«xceedr, that demand; and produce a cbfres-
[AT IT W.p. DGLL ARS PER, ANNUM,
NowSorio9~iVol.4 l i‘To. 30.
pondingcprtailmchtof tlieiraocoinmodationa
and of fitc currency, at the very moment
when . the state of-trade renders it most in
con vemeot'to ,bff borne’.The intensity of
this pressure on the community is in propor
tion. to. the. previous liberality of credit arid
consequent expansion < f the currency;,fdrced
sales,of property are made, at the time when’
the.means.of. purchasing are most reduced,,
and the Worst calamities to individuals are
only, at last arrested, by an open violation of
their objigatidns by the banks, a refusal to
pay specie fur their noteh, and an imposition
upon, the.commuriity of a fluctuating and de
preciated currency. - \ .
These consequences are inherent in the
present-system. They are not influenced
by flic banks facing large or'small, created
by. National or Slate Governments. They
are the-resuits of the irresistible laws of trade
and credit. In the recent events which have
'so strikingly illustrated the certain effects of
these laws, we have seen the bank of,the
largest capital in the Union,' established un
der a National charter, and lately strength
ened. as we were authoritatively informed,
by, exchanging that for a State charter* with
new arid unusual privileges—in a condition
too, as it was said,' of entire soundness and
great prosperity—not. irierely unable to re
sist, these effects, but the first' to yield to
them, " • »"
• Nor is it to be, overlooked that there exists
a chains of necessary dependence among
these institutions-which obliges them, to a
great extent, to follow the course of others,
notwithstanding its injustice .to their own
immediate creditors, or.injury-to the pai ti
cular community in which they are placed.
This dependcnce-of a bank, whieffis in pro
portion to the extent of its debts for circuiri
jion and deposites, is riot merely on others
in. its own vicinity, but op all those which
connect it with the centre of trade.. Distant
banks may fail, without' seriously affecting
those in our principal commercial cities; but.
the .failurc.of (.he latter is felt at the extrem
ities of tlie Union. The suspension at New
York, in 1837, was every wherei with very
few exceptions, followed/ as soon as it was.
known; that recently at Philadelphia imme
diately affected the banks of :the- South and
West in a similar manner.,_Thts-depend
ence of our whole banking system on tne in
stitutions in a few large cities, is not-found
in the laws of their organization,- but in> those
of trade and exchange. • The banks at that
centre to-which currency flows, and where
it is required in payments for merchandise,
hold tjte-power of controlling thbsein regions
whence it comes, while the latter ppsscss no
means of restraining them; so that the value
of individual property, and the prosperity of
trade, through the whole interior of the coun
try, tire made to depend on the good bi- bad
management of the hanking institutions in
the great scats of trade on the seaboard.
But this chain of dependence does nut stop
here. It does not terminate at Philadelphia
or New York. It reaches across the ocean,
arid ends in London, the centre of the credit
system. The same laws of trade, which give
to the hanks in our principal cities power
ovci the whole banking.systcm of the United
States, subject the former, in their turn, to
ttho money power in Great Britain. It is not
denied that the suspension of the’New-York
banks in 1 5 37, which was followed-inquick
succession throughout the Union, was pro
duced by an application of that power, .and
it is.now alleged, inextenufatiori of,the'pres
ent- condition of so large a portion of our
banks, that their embarrassments have arisen
from the same cans.?.
. From this influence they cannot now .en
t rjly escape, for it-has-its origin in the cred
it Currencies of the two countries;, it is
strengthened by the current uf trade and ex
cliangc, which centres in London,'and is ren
dered almost irresistable by the large debts
contracted there by our merchants, our banks
and our stales, |t is thus jhat'an introduc
tion of a new bank into'the most distant of
our villages, places the business of that vil
lage wi thin-t he influcnce-of-the-money-power
in England. It is thus that every new debt
which we contract in "that country, seriously
affects our own currency, and extends oyer
the pursuits of pur citizens its powerful in
fluence. We cannot escape from this by
making new banks, great er small, state ,or
National, The same chains which bihd those
now -existing io-the centre of-this system of
paper Jprcdit, must equally fetter every sim
ilar, institution ,we create, It is only by the
Extent to which fhis system has been pushed
of late, that yve have been made fully aware
of its irresistable tendency to .subject ourown
banks, and currency to a vast controlling
power.in a foreign land; and it adds a new
argument to those which illustrate their pre
carious situation. Endangered in -the first
placeby their qw.n mismanagement, and a-!
jpdn by the conductpfevery institution,which
ponnects them with the centre of bade jn our
own coantry tliey areyct subjected, beyond
al.Mh,is»l-,<p the pffept, of >yhateyer ; ;nieaBui;ea,'
policy, .necessity, or caprice may induce
those who control the credits pf England to
resort .to. .1 mean not to comment upon
these’,measures present or .past,' and much
less .to discourage, theprosecution of fair
commercial dealing between the two coun
tries,,; based oil .reciprocal benefits,' but- it
havingnoWbeehmademanlfyatthatthepow
injuries*, is;
by the resiptless. law of qcredit currency and
credit . ; trode* ; .eqnsl.ly|fapable of .extending
their.cqiMequenceS through all the ramifica
.tiong'qf our banking system, and -by. that
.meansjndircclly obtaining, particular lyrwheri
our banks arc used aadepositories of the piib
lic moneys, ad angerouspolitical influence in
the tjnited States, 1, have ileeiped it.my dut v
fp bring the subject Jo youi notice and ask.
for U-yoor serious consideration. .
-IsanargumeiU rcquiredbeyoiidthe expo
sition of-these facts, to show the impropriety
of using ourbankiiiginstitutious qßdepqai
turics of the
notdnlytqehcqafater-ilii^risfc.qf v thcirindi !>
yidiial ijind iputq^^
J&Jnnlb ■timbc'fe yatWear^l^^'iiwVdct.
; ■•. AGENTS,
John Moore, Esq. Ncwville
■Joseph M. Means; Esq. Ui>i>owcll towusMp.
John Wunderlich. Esq. SUiplipilaltuVg,’'
Mather, Esq. -Leo's ;*! RoaSU, :
-John Mbuaffy, Dickinson townsliip,
Jons CLENDENIK, Jl'. Ein-* Hogcatuwiu' . ,
George F. Cain, E.q.Mcclianicbimrg,
Frederick WoNoEßLiq)!,' ’do." '
James Et.liott, Esq. Springfidld. ' ■ ,
Daniel Krysheh; Esq. Chuioluown.
Jacob LoNgnkcker, Esq. Wonnleysburg.
George Ernest, Cedar Spuing, Allen tp.
rnestic policy entirely under the control of a.
foreign monied interest? • To do so is toim
pair the independence of our Government,
as the present credit system, lias.already im*.
paired the independence of oiir banks. .It is
to submit all its important operations, wheth-,
-er, of peace or war, to be controlled or tlnvar- ,
ted at first by our’own'banks, olid then by a
power abroad greater than themselves. I
cannot bring ‘myself to depict-Ibe humilia
tion to which,this. Government and people,
might he sooner or later reduced, if the
means for defending their rights arc to bo‘
made dependent upon those who may have
the meat powerful of motives to impair them.
' Nor is.it only in reference to the, effect of
this state of" things bn the.independence of
our Govermngpt or of our bunks, that thu
subject preaenTts itself for consideration; it is
,to be viewed also id its relations to the gen
eral trade, of our country. The time is not
long past when a deficiency of foreign crops
was thought to afford a-profitable market Cut
the surplus of our industry; hut now we a
wait with feverish anxiety (lie news of the'
English harvest, not so much front, motives
of commendable sympathy, but'fearful'lest
its anticipated failure should narrow the field
of credit there. Does not this speak volumes
to the patriot? Can a system bebcnefi'cicnf,”
wise, or just, which creates greater anxiety
for interests dependant on foreign credit,
than for the general prosperity of,.our own
country, and the profitable exportation oftlio -
surplus produce of our labor? ‘ ’
The circumstances to which I have thus
adverted appear to me fo afford weighty, rea
sons, developed by late events, to be added
..to those which I have "on former occasions
offered, when submittingtoyourbclfer knowl
edge and discernment the propriety oftsepar
ating the custody Of the public money 'from
banking institutions. Nor lias any thing oc
curred to lessen, in my opinion, the force of ■
what has been heretofore, urged. The oply
on which that.custody can fie desired
by.the banks, is the profitable use which they
may make of the money. Such use would
be> regarded in‘individuals as a breach of
trust, or "a crime of great magnitude, min
yet it may be reasonably doubted, whether,
first and last, it is' not attended, with more
mischievous- consequences, when permitted.,
to the former than lo thc latter, ~,Ttie,pract
ice of permitting the.pilblic money to be
used by its keepers as lier.d,,iH believed, to be •
peculiar to this country,.and to exist scarcely
any whereulse. Toprocure it-hcre, improp
er influences are appealed to; unwise con*"
nections -are established between the Gov
ernment and vast riumbirs of powerful State
institutions; other motives than the public
good are brought to bear both on theExccu*
tive and Legislative departments, nnd selfish
combinations, leading to special legislation
are formed.. It is made the interest of bank
ing institutions & their stockholders through
out the Union to use their exertions, for the
increase of taxation and the accumulation of
a surplus revenue; and, while an excuse is
a (Fumed, the means are furnished for those'
excessive issues which lead to extravagant
trading and speculation, and arc the fore
runners of a vast debt abroad, and a suspen
sion of the banka at hipnc. ■
Impressed, therefore, hs I am, with the
proprietor of, the funds of the Government
being withdrawn from the,private'ti'«d of ei
ther banks or individuals, and the public
money kept by duly appointed public agents;
and believing ns 1 do, that such also is lint
judgment which reflection and
experience have produced--on the public -
mind, 1 leave the subject with you, It is,
at all events, essential to the interests of the
community, arid the business of the Govern* ■
ment, that a'decision.should he made. '
Most of the arguments that dissuade ua
from employing hanks in the custody and
disbursement of the public money apply, with
equal force to the receipt of their notes for
public dues. The difference is only in form-
In one instance the Government is a creditor •
for its depositee, and in the other for the
.notesithulds. Th ey. afford Jhcsa m e.. 0 p por-
trinity for nsiqg the public moneys, and e
quallyjead-to all the evilsettendarit upon it,
since a bank can as'safely extend its dis
counts on a deposits of its notes in the hands
of a public officer, as on one made in itsown
.vaults. On the other hand it would give to -
the government no greater security; for; in
case of-fuilure,-the-claimlbf.thoJ.iioteluilder
would be no better Umn that, of h depositor.
;; I- am awaVo that the danger of, inconveni-
ence to the public and ii.nrcjisunable pressure
upon sound banks have been urged as objec
tions tbrequiririg the paymcnt 4 of the revenue
in gold and silver. These objections liava
been greatly exaggerated. From the best
estimates we may safely fix the amount of
specie: ip the country at eighty-five millions
ofdollars.and the portion of that which would
be employed at any one-tune iirihe receipts
and disburements of the Government, even'
if the proposed change were made, at once,
would riut. it is now, after fuller investigation,
believed, exceed four or live millions. 1 1 the
change were gradual, several.ycare ,would
elapse before that stint would be required,
with annual opportunitiesV iriilje mcau tiDie,
to alter the law,. ; Bhould { expenence:prpye.it
to bp oppressive or |nconvenjcpt.*|;T.he:
tions of the community qn w hrisebusinesg live;;
change would immediately operate. are com
paratively small, ; iioi is,;it bcliovi'd that its
effect, would he writhe least unjust or injuri
ous to them;; ■->' —f. -
'lll the-payment of .duties, whiqh cphstltatg '
by.far the gi cater portion of ; the revenue; a
very large proportion is'derived from foreign
commission ‘bouses ami , agents, of foreign.-.'
manufacturers, who si'll the goods coufsigucil
to them generally;ut auction, and a tier pav
ibgthe,du lies out of the avails, reiji'il the rest
abroadiu specie or its equivalent. - That
aroquiit;of; ; dutiei.shQnlil,riu^euch i cMbebV ,()•'.
also retaihcil in specie, can hardl,y be minle
a matter ofcainpiaiiiu ; £jQby/,tw«impi>rt)ng; 1
merdiahtßi by whotii llie residue,of the du*
tiespfa,^l4 u iiiteres
ted jii maintaining-s-fidumfw
cßpctuUy-i>r»> »
'f.