purpose of enabling them to resume specie
payments, proposed that' wa should; for a
limited period, receive their irredeemable
paper in the payment of ducsto the.Govcrn*
' meat. Much eloquence was also formerly
wasted tipun the extreme cruelty of having
one currency for the Government andanpth
er fur the people. Thank Gud-IVo hear no
more of all this. No person •now contends
' that, under any circumstances, the Govern
meat ought to receive depreciated bank pa
per. Such fantasies have (proved too light
for earth. They have risen to. the moon,
where it is said the crude notions o( specu
lative politicians are still floating about, and
have a local habitation and. a name.
Tho Senator charges us with having em
ployed Jhe State bants as depositories, and
having commended their conduct in the
highest terms. This was agrevious sin, and
grievously,have wd answered it. The dif
ercnce between him and trs.is this; that after'
they had shown themselves to bo utterly un
worthy of our confidence, we .abamfopcd ,
flionVS hut at thatTnouvent he ; clasped them
to his bosom. Admitting that.there has been |
inconsistency on both sides, tljestato of the
fact is this; we adopted the State,banks; they
betrayed us; and we cast thern off forever.
The. Opposition' denounced, this system in
• fhe beginning, and prophesied that it
prove a failure; but at the very moment when
their prediction was verified, they embraced
these castaways themselves with all the ar
dor of lovers. These banks, as depositories
of the public money, are now repudiated by
all parties. Their day.has passed, and tve
shall hear little move of them in connection
. with this"subject.
All men are wise after the fact; but, to
look back, it has often occurred to mo as
Wonderful, how we could ever have confided
in the State banks as safe general deposi
tories of the public treasure. • Our system of
banking is the very worst, and the moat ir
responsible that has ever existed on-the face
of the earth. The charters of these banks
■fcowhereimpose any efficient restraints Upon
the first instinct of their nature-, which is to
tnake-ds much money for their stockholders
as possible. They will;, therefore, always
expand their credits and their issues in the
day of delusive prosperity, without regarding
•the approaching storm. The immense de
‘ posites of the Government ihcroasbd this fa
tal tendency; whilst the public money, was
freely loaned, and its security placed a’
■hazard, for .the benefit of their stockholders
■but fur the ruin of the country. The won
■der, perhaps, Ought rather tu be that they
held out so long, than that they should have
finally exploded.
In 1836, the immense amount of these ile
posites,had stimulated them almost tu mad
ness, The expansion-was then great beyond
, . all .former example. Speculation raged
throughout the land. The suspicions of tlie
■country were aroused against the Oovern
nienti'an’d "the “banks" charged -with
granting peculiar favors to men high in office,
and to influential partisans, of the Adminis
tration. They were denominated the "pet
banks.” Such was the' general sepse of the
insecurity of the public money,Tn their pos
session, and such the jealousy which existed
■among the people, in consequence uf their
connection with.the Government, that I veri
ly believe the present Chief Magistrate would
never have been elected, had it not been for
the passage of the depusile bill. The adop
tion of this measure was a choice of evils; but
it was a much less evil than to have left
nearly forty, millions of the public money in
possession of the banks. UndoT the Inde
pendent Treasury system, we shall never
again be placed in such a fearful dilemma.
I was very much astonished that we hpd
no homily from the Senator against the spe
cie clause uf the bill. Even this seems to
have lost much of its terrors. It is no longer
the terrific .monster which was to devou r al l
the banks and establish a pure metallic cur
rency for all the transactions of all the peo-,
pie of the United States. p
.There could be no Independent Treasury
without this clause. If you were to receive
bank notes in payment of the public dues,
■and retain them in your possession, yon
would, in this manner, encourage the banks
«s much to make extravagant expansions, as
though you placed the same amount with
them on general ■ deposite. Besides, you
would thus confer a dangerous power upon
the Secretary pf the Treasury, enabling mirT
to.favor some banks and'fo ruin others; and
even if this power should not be abused, sus
picion would always snrround-its exercise.
Voil must separate from the banks in every
particular. Evils, both to them and to, the
country, will follow from the least connec
tion with them. Besides, if you receive
bank note's at all, to the extent of the amount
which you hold on hand,-you incur the very
same risk of having them converted'into ir
redeemable ‘ paper by an explosion of the
banks, as if they held them on general de
posite.
The .Senator commenced Ids speech by
_ presenting us.themoatgloomy-picture of
national distress. lie°'predicted (hat. this
distress would continue to increase during
the present year, and that it would aftect aU
■classes of the community. . The suffering, he
thinks, will be peculiarly severe during the
■ ’approaching summer. I might say to mm,
vThy. wish was father, -Harry, :to.the thought.’ 1
I do not believe, however;-he would desire
that the people should suffer in order to ac
complish any political purpose! But if, with
out contributing to tins result himself, it
should be, the will of the powers above to in
volve ns in pecuniary distress between this
lime arid the Presidential election, he would
doubtless bear the dispensation with Chris
tian fortitude. It would flnnish political ca
pital for: bis friends, and might contribute
greailyto verify his prediction, that,General
■ Harrison will take possession of the White
y-' House on the .dth of March, 18-il,.
In'my oplmon, the'Senatorhasgrea'tly ex
aggerated the extent of the existing distress, ;
——Txut.all classes, of the comtiuinitv have suf
lered in some degree is certain; out intense
, suffering has been chiefly .confined' to .the
Jargh cotnmercial cities, and. those portions
. -of the Up von, such as the State uf Mississippi, ■
where the banks have so evident!yyuined the
■ people as to place all doubt of the cause at'
defiance. \Vhere is there the country under
the Sim on which a bountiful Providence, lias i
•' ponred out inure blessings than on Missjstip-' i
i -pi?- ;;No population on Hie globe, lii pfopor
" ;tion I
luount of wealth from the cultivation'of the
,snil, And yet thebouutydf Providence has 1
. been counteracted by her miserable banking 1
system, and her people are now subjected to
intense suffering. In this instance the effect
flows so palpably from the cajisc, that every
tnan seea and feels and knows it. What an
astonishing fact was that, stated" by the,Sen
j ator from Mississippi, [Mr. Walker,] that
in those counties of pis Statewhere banks 'do
| not exist, there iaiioauflering even at the
present moment!lf you wanted an illus
tration of the pernicious effects of the bank
ing system, when it tempts farmers and
planters to abandon their own proper busi
ness and embark on the" ocean of wild spec
ulation, you "could not have one more striking
than' that, presented by Mississippi at the
present moment. lam not gware that tliore
is much individual distress "among the mass
of the people in the .inferior of Pennsylvania.
Thetc it is. chiefly confined', fo those who
have been tempted, in the day of prosperity,
to go beyond their meahsbythc facility, of
obtaining bankaccommodatums. ■ -
But ifrread the signs-of the times aright,
the.crisjs has-passed^orrathcr is" gradually"
passing away., WV cannot return tp n, state
of prosperity before theTresidential election;,
but the eondition of individuals, generally;
will not-be one of intense suffering. The’
resources of this vast country are so great,
and the productive classes are so industrious;
that with two years of fair play, they can
firodnce as much wealth as (he speculators
iavebech able to squander in one. There
will be no great Buttering" during ihe next
summer, unless it may be in oar large com
mercial cities." r ......
_ After presenting in glowing colors the
distress of the country, the Senator asks what
measure of relief have we proposed? I might
ask him, in return, where he will find any
clause in the Constitution conferring power
upon Congress to regulate the banking and
credit system of the- respective States, and.
thus strike at the root of our calamities and
embarrassments? The present Administra
tion have not had the slightest agency in
creating the existing distress, and can do but
little to arrest it, or prevent its recurrence.
This is a duty which devolves upon, the
Stales. Still we have proposed a measure
which we believe will produce this effect to
a limited.extcnf. Our chief objects in adop
ting the Independent Treasury; are to dis
connect the Government from all banks, to
secure the people’s uijincy from the wreck
of the banking system, and to have it always
ready to promote the prosperity of the coun
try in peace, and delend.-it in-.war. Inci-'
dentally, however, it will do some good in
checking the extravagant spirit of specula
tion, which is the banc of the countiy. ,
In the first place, by requiring specie ‘
all receipts and expenditures of the Govern- 1 ';
ment, vpu will create an additional demand
far gold and silver to the amount of five'
millions of "dollars per "annum, according to
the estimate of;tlieTresidcnt.- A large-por
tion of this sura will be drawn from the
-banks,-and_this_will compel them to kcep
more specie in their vaults ii) proportion to
their circulation and deposites, and. to bank
less. This, so far as it may go, will strike
at .the root of the existing evil. I fear, how
ever, that it will prove to be but a very in
adequate restraint upon excessiviTßanking.
In the second place, this bill will, in some
degree," diminish our imports, especially af
ter June, 1842, -I most heartily" concur
with the-Senator in desiring this result.—
What is the condition of the importing buai
ness.at the present moment? It is almost ex
clnsively in the hands of British agents, who
sell all the manufactures they can dispose of
in olherportions of the world, and then bring
the residum here to glut our markets. Ac
cording to our existing laws, they recehe a
credit from-the Government "for the amount
of its duties- They sell the goods for cash;
and'this credit becomes so much capital in
their, hands, to_enable . them to make fresh
importations. The Independent Treasury
biirrequires that all duties shall be paid in
gold and silver; and after June, 1842, the
compromise law will takeaway,the credits
altogether. We shall then have a system of
cash duties in operation, which will cun trib-
ute much to reduce the amount of our itm
portations, and to encourage domestic man
ufactures. - . • 1
In the third place, this bill will make the
banking interest the greatest economists in.
the country, so far as the Government is
concerned- Their nerve of self-interest will
be touched“in favor of economy, and this
will induce .them to unite with the people in
reducing the revenue and expenditures of
the. Government to the lowest standard con
sistently with the public good-- They will
hereafter abhor a Surplus revenue, as much
as they, delighted in it formerly, when they
used it for banking purposes. Any surplus
which may exist in future, will be locked up
in gold and silver in the vaults of our de
positories;, and, in proportion to its amount,
will deprive the banks of so much of their
specie. They will, therefore, become the
partisans of reducing the revenue to the act
ual and necessary expenditures of the Gov
ernment; so that the specie'may flow'out of
the sub-treasuries^withTrrapiditycorrespon
ding with its influx. .Nothing but a large
surplus can seriously injure the banks. This
was demonstrated to me by one of the most
distinguished financiers which onf country
has-ever produced,not diimsclf, I behove,
friendly to the Independent Treasury—
These Treasury drafts, in thehatnral course
of business, will find their way eitherTnto
the banks at the very points where our de
positaries are situated, or into the hands of
individuals there bavingduties to pay to the
Government. /Take, for example, N. York.,
'A public creditor’ receives such a draft, on
the receiver-general in payment of his debt.
Will he'earry it to New Yorfc,reCeiv<: pay
ment, aiid transport the specie from that city?-,
fluclf instances, will be rare./’ He wilhgen-i
erally deposite it to his credit in the bank
with which he transacts .his business,lwhere-
ever that may be. This bank, if not in New
York, will transmitit for collection to one of
;the banks there; and thus these banks will
draw the specie from pur depositary as rapid
ly as it is drawn from.,them for the-payinent
of tlie public'dues. - .'iTibs , the ’ equilibrium
will be preserved, so long as the Government
is without alarge; surplus.- In other instances,
these drafts yviilbe sought after and procured
by ludtviduals having duties to paV/and they
wdl be-presented ~to the. receive’rs-generaf,
and accepted by them instead of gold and
silver. ; ; . . • -
I now come to another arid the most im
portant portion of the gentleman’s argument
If the President had taken the Senator from
Kentucky under his umbrella, and wrapped
hislndia-rubber cloak around him, and made
him his Palinurus to steer the ship of State—
£Hete Mr. Cl a v said thiawas notapossU
ble case.] ~ ''
• " Mr. BDCHAKAN-repliedi that’all tilings are
possible, and wonders will tieVcr ccdse;-
I admit that such an event is nol very prolix
-able; butshould it cver occur, triie as the
needle to the pole, the Senator would' steer
direct for a National Bank. Tins .is this'
Senator's sovereign paiiacfca for-regulating
the currency of the country and restraining
the extravagance of the Stale banks. I. ad
mit that the true issue notv before the coun
try is between an Independent Treasury and
a National Bank.- “The Pet; Bank” depos
ite system has bpen such an utter failure, that
Another resort to it. cannot be seriously con
templated by any considerable portion of the
American people. I feel the utmost 1 confi
dence in the .success of the Independent
Treasury, should the.law be ably and effici
ently executed; but should it fail, the gext
experiment will .doubtless be anotherßank
of the United Stat.es. ■ 7
, •-Waiving',-at present, the constitutional
question on which I have often expressed my
opinion before the Senate, I propose to take
up the ; Senator’s argument, and prove (hat
such a bank would not regulate the currency
if it could; andthat even if .it felt the wijf to
do so, it would be entirely.destitute of the
i power. • ; ' ■■
Would such hbankl'then, if it could,ion-:
: trol and regulate the thhns-arid'isaues of the
: State banks? In the affairs of huWan life, if
you expect one agent to I'eatrain a'nother, you
ought' to render then-interests
This proposition is,emphatically ;U'«e,;whe}j,
such agents are banking corporations, intent
upo'n declaring the largest possible dividends
among their stockholders.’ Now a Bank of
the United States, so far from feeling any
interest adverse to the Stale banks, would
have the very same induccments.With them
to make extravagant-loans and issues. ' The
jluty.of-auch a bank, as a regulator of the
currency, would be directly at war with its
interest as a banking institution. You can
nut raise men above the selfish passions of
their nature, by making them directors and
stockholders in a Bank of the United States.
When their interest as bankers conflicts with
their duty as regulators-of the currency, the
history of mankind points you to the probable
result. Like the State banks, they will al
ways extend their loans and their issues,
whenever they'can dp so without endanger
ing their own security. This is tlye power
ful instinct of self interest. It is absurd,'
then, to expect that the president and direc
tors of a Bank of the United States will ev
er becofne sale and efficient regulators of
the Currency - , in the very face ol'their own
ipterest os stockho’ders. It would be easy,
for me jo prove, from historical facts, that
neither the former nor the present Bank of
tho.-Unitcd States ever_didiser.cise.aj-cgUi;
lar and efficient control over the issues of the
State institutions. Onthe contrary, when
ever their interest' impelled them to extend
•their own is'sues, they have pursued this,
course; and thus, instead of checking, they
have given loose reins to the State banks.—
Both lire Bank of the Uuitcd Statcsand these
bankshave thus together rushed.on, and with
united forces have ministered to that spirit
of over-trading awl extravagant speculation
which has so often desolated our country. —
Time will not permiTtnc to do more than re
fer to the vast expansions of this Bank in
1817 & 1818, in 1823, in 1831, and inlBS4.*
These produced ruinous contractions and
universal distress. 1 think I may affirm,,
with perfect safety, that at each of these pe
riods, instead of restraining the State banks,
it took the lead. Has it ever preserved the
State banking institutions in a sound- con
dition? Let Mr. Gallatin answer this ques
tion. He says that one hundred and sixty
five of ourbanks broke betwecn~l BIT and
1830; and during the greater part.of this*
period, we all know that the present Bank
of the United States was in active existence.
My great object, however, at this moment,
is to prove, from the present condition of the
Bank of,the United States, how hopeless it
is to expect that any similar institution can
ever be relied upon as a regulator of the cur
rency. That Bank still exists, if its present
condition maybe called existence; and this
is the first occasion on which I have ever
known the Senator lo be guilty of ungrate
fully abandoning an old friend in the hour of
calamity. Before I,take my seat, I shall en
deavor to identify the gentleman and his
party with this institution. ' “They were
lovely.iii life, and in death they shall not be
divided.’’..
ft is said that the Batik of the U; States is
now but a mere State institution! But is its
character changed by changing ’the source
whence it derives*its charter? Is it not still
the same institution that it ever has been,
with the same capital, the same .directors,
the same,stockholders, and, until very re
cently, has it not been governed by .the same
controlling will? Has it not been exultingly
proclaimed' by its former president,.that it
now has a much better charter from Penn-
sylvaniadhan thatwliicli-.it hajd-receivedfrom
Congress? This'is strictly the truth; for
such a charter as-that, under which' it how
exists was neverbefore granted to tiny bank'-,
ing ih..Englaii|f or this
country.’ The" '.United States, it-.-is true,
ceased to be a’stockholder; but; it .enjoyed
the privilege of their.millions,
pfstock, for wliicli it could have procured,
and’doubtless did procure, a largeadvance.
. From the very'nature of things,-this Vast
monopoly, with a capital of $35,000,000,
coulil - not haye : bgcome-a State; institution.
A single St,ate; with more than i sufficient
number of State banks already itf existence,
could not have furnished employment for its
immense .capital. It would;', have starved
-within 1 such.narrow limits, v*-v - I
Did if, in point,of fact, confine its opera
tions to Pennsylvania? No, sir; it aspired to
regulate the currency, and.exchanges of the
whole Union. This whs the, Ji(gb .political
duty" (o_ the performance of which:,'it. pro
claimed itself destined, ' TodcH me that this
Bankall at unce changed ita. phwiacter ahd
became aThcre State Ihs
cause it had received a.charter frOm the Lpg
islature of .Pennsylvania, is to deny .theieviP
deuce of our - ow;h-sennes, ;’not the
currency issued undefv the new'cfertetv as
well as .that under .the old; declared in-tSSGif
to be the best currency the world ever seen?
Did not the hew notes command.the* spme
premium, all over the Union, with the old
onesj and would they not still continue to
command the same premium If itiJiad not
fallen-—fallen from its higlresfater —,
•■■Why, sir, U became, in facU-mbrc a Bank
.of the United -States aftet it received its
Pennsylvania charter than it had ever been
before, it bought up Stata banks and con
verted them jjito branches, in Louisiana and
.in Georgia; and it shot out its branch agen
cies over the whole/Union.- In'New York
it has established a branch bahk,under their
free banking law. '
Since its new charter, hot content with
; the whole United Stales as the theatre: of
■ its operations, it has established an agency
iu fingland;“and aspired “to beard tho lion
in his/den.’t and to become.the Vival pf the
Bank of England- in London itself. It
scorned.to confine itself to banking opera
tions alone; but has invaded the province of
the merchant, and has attempted to monop
olize and regulale the \VKole~cotton-trade
between Europe and'this country.- And yet
this Bankis now.said to bp a mere Pennsyl
vania institution! , • r '
Now, sir, how hM.it
which it imposed upon itself—of regulating
the bank issues, and the foreign and domes
tic exchanges of the Union? In little more
than one year after its charter from Congress
had expired, whilst in all respects it was
under the same government, and continued
to pursue the very same course of policy
that it had done before, it became insolvent,
atid suspended specie payments with' less
than onemillion and a naif of gold and sil
ver in its vaults, or less than one dollar for
twjputy-tlvrec of its capital, to meet all its
.imnlense liabilities. Their amount at the
time I do not recollect at present, nor have
I the mb an a of ascertaining it in my posses
sion.
Now, Sir, -I.“would ask the Senator, is
there the least reason to believe that if this
bank hard •coWttnAied.to be’the depositary nf
the public revenue until May, 1837";.that its
fate would have been or fhat WC
should not then have'had. a genera] suspen
sion of specie payments?- Why. sir, the
public deposjtes \yotild only have added fuel
to the flame; and would have tempted the
Bank to engage in still wilder speculations.
The overbanking and overtrading of 1836,.
which were conducted .under its auspices;
would have become still greater—the expan
sion would have been still more extravagant
—the bloated credit system, which enabled
us iu that year'to import foreign merchan
dise to, the value of nearly one hundred and
ninety millions of dollars, might have raised
our imports up to. two hundred and fifty
tnillionsfand the catastrophe which followed
would have been still more dreadful-.
In order: to wpair its fallen fortunes,
true to the-law of its nature, this Bank has
since proceeded from one extravagance to
another, until, it is now almost a heap of
ruins. Instead of controlling and regulating
the other banks of the country ,-it-has noto
riously been the chief, .nay, almost,(ho only
;ca_us_e, of the existing suspension of specie
payments. t The glory of which its hinds
“now bbast is, thatit has been able to burrow
;SBOO,OOO sterling, at an extravagant rate
of interest, from private bankers in England
to save it from immediate bankruptcy and
ruin* Alas! how are the mighty fallen!
And it is by the creation of another such
.institution that the Senator seeks to regulate
the currency,-iihd control the bank issues of
the country! ■ Why, this is faith against Tact;
speculation against experience. This would
be to adopt, us our grand regulator, nli iiv^ -
stitution precisely similar' to that which has
been the greatest author of our vast bank ex
pansions, and our bloated credit system; and
which has fallen under the weight of its own
extravagance. With all the experience whirl
(he people of the United States havei'liacl
upon this subject, it will be long, 1 trust
very long, before they return tu a Bank ol
the United State?'., . ,
(CONCLUSION IN OUR NEXT.)
GEN. HARRISON IN FAVOR OF TAX
ING THE PEOPLE TO BUY THE
SLAVES,
Gen.- Harrison for the sake of beiiig Pros
ident, it few years since, joined the Jlnli-
Masons— later still,to counteract Mr. Clay’s
anti-abolition speech of last Winter, he joined
an abolition society. . Previous, however to
this he proposed, that, the surplus revenue of
the nation, should D’kappropriated to pur
chasing the'slaves of ifjte, South . Hear him:
“Should 1 he asked if there is no way by
which the gene_ral government can aid the
CAUSE OF EMANCIPATION; I answer
that it has long been an object near my heart,
to.see the whole or its SURPLUS REV
ENUE APPROPRIATED TO TTIAT.OBJEOT.”
Elect GehV Harrison President, and; (he
TWENTY SIX.MILLIONS of the surplus
revenue now deposited with the states, wilt
be appropriated to the purchase of refuse
negroes, to be set free and over-rub our
country. Arc the people of the South pre
pared for this? Are the people of Ohio pre
pared for this? Is abolitionism, with all its
evilsdo be-brought upon the country, by the
aid of the whig party? The democracy of
Ohio has stood by the South, and .passed
laws to prevent the stealing of slaves by the
abolitionists. —Will the Soutii now support
a member of an abolition ..society, for Prcsi
dentof theUnitedStales.— Ohm Statesman.
■ From Florida. —Battle of Blood-Hounds,
—-A letter from Tallahassee, dated’the Stir
instant, states that the blood-hounds, about
. whic)i_so’ much has been said, are.“used to
trail Indians, and not to eat them. .. They
are Hot canniAnf blood-hounds, and sad ex
perience demonstrates that these savages
cannot be ferreted out without their aid;
thirty of them i,n .the field, with, five
Spanish trainers and Major Bailey, thfe well
known Indian hunter. • With the exception
of a shorter; nepknnd a more flattened nose,
they resembjirolinordinary hotiml, and are
equally innoccnfliiokirig. These dogs have,
'been procurediby.lhe territorial and hot.by
the general Government, and for’territorial’
troops. When a trail .is discovered, the
hounds are put on it, and the dragoons fol
low '.■until the, enemy.is overtaken. Nor is
it known'how the Indians, in their,predatory
excursions, can.be found but>dmid the hamr
mocks,“swamps'nndreyerg! ndcs.-of-a-couritry
likq this, without such aid. J was at St.
Matks-iL few days ago; in. which neighbor-
kept; arid wakinform
fcu that.fliey would;probably answer the' ob
ject for which; they wevi!,,obtaiiicdiA
port has just reached. Bail
ey; with six hoUfidS; lipd fallen
dian trail, which letHd ii camp dipfdH^fvSq,
of whom were killed,, and the rest ran oOT,
leaving (heir mdckasiiis, &c„ behind; One
dog was killed by the Indians, arid’thescout
ing party was still following the;trai.l*-i.This ;
is the most important battle that has .taken
place in.a long time.?’ '
CARLISLE;
nitHtSDAY. FEBBttAnV M, 1810.
“Now oinr flag is flung to the wilcl.wffta tree,
’ 'Let it Boat o'er our,‘father.land,”
Ami the guard of its spotless fame shall he „
Columbia’s cltasenkandi"
FOR PRESIDENT IN 1840.
MARfIN VAN BFREN, ■ •
AND AN
' INDEPENDENT TREASURY.
notSc£»
These interested are, hereby notified, that the bills
duo this establishment for subscription, advertising
and job work, will female out between this and
tho'lstof April, when those indebted will be ex
pected to liquidate their accounts cither with the
cash or promissory notes. In the meantime,.those
who can convenient);', will confer a favor by call
ing at the office and settling their accounts'.
- Subscribers at a distance can remit- through
the mail, in current bahk. notes, at our risk, thoie
ceipt-wbereof shall bo'aobnowledged. in Abe paper.
isoßovaia jfuisiTiJvo.
The Democrats of the Borough are, requested to
meet at the.publio houso of Maj, Jacob liehrar, on
Saturday evening next, at early candle light, for
tiro purpose of adopting, the necessary preparatory
measures for tho approaching Spring election; It
is to be hoped that a general attendance will be
hod. ' . .... MANY/
Carlisle, Tcb: 27', 1810.
“W; ,f uhdfcr fill, the circumstances of the,case,
we think inadmissible on account of the tone and
temper evinced by the writer. Wc can perceive
no possible good that would *bo lively to result to
the public or tho writer himself from its publica-'
tion, and therefore respectfully decline giving it a
place in our columns. • .
New Jersey disputed members.'- —This caSe has
been "postponed till the first,, Monday df "April, at
the request of the “broad seal” men, who ask for
that length of time to hunt np what evidence they
can to back thcTraudulcntcertificate they received
from the Governor. The Committee on Elections
are at present ’engaged in 'the investigation of the
Naylor and Inger’soll casev ' * . ,
It might bo well for the Legislature to consider,
seeing that there are some in favor of granting the
Banks as long time as they ask, and also allowing
them tho privilege of issuing small notes, whether
such a course of* policy would he productive of
beneficial nlf dv ~alle'
jcneficial results' to the communityas'it is alleg
fed by those friendly to the Banka. It is admitted
cm all handinhat as soon as a ionmplicn takes
place, those banks that arc in a solvent conditic n,
will have little or ho occasion to oppress the com
munity by drawing fepon their- debtors-, as is the
case at present. But let the resumption bo post
poned for sis months of a year} and the whole in
tervening: period will be occupied with this grind
ing process. This is a result which may be look
ed for with certainty, if the resumption is pos’tpo-;
: ned an unreasonable length of lime. ,
Again—suppose the Banks were permitted to ■
; issufe one, two and three dollar*nctes~-would that
benefit lt is a weft’ -ShowiLiack
that the banks have now at least three times as
much paper in crrculatich as they arc able to re- 1
• deem; and if any additional issues arc made* it re
quires no prophet' to predict that 'a permanent re
sumption will then be more difficult than it would
bo without such new emission. Still further,
would it not bo. affording facilities to insolvent
bbnks (which sooner or later must go by the
board,) to pave tho way for indicting a greater a-,
taount of wrong upon thefeommunity* Wo think
Ho*reasonable man can doubt the result.
- We Say nothing no\V of the banishment of gold
and silver entirely from circulation, which-would
be the inevitable consequence of an emission of
small notes. But we do think that, apart from
the exclusion of specie, the evils of a protracted
suspension are alike injurious to the interests of
thd Banks (we moan the solvent ones) and the
community—and in this opinion we'are not alone,
as the following- from the Philadelphia Ledger
will testify:
“If a resumption of,, specie payments were to
lake place,to-morrow, provided it were general,
and', if compulsory, it must be general, no solvent
bank would bo injuriously affected by it. Every
bank which has the ordinary means of meetingits
liabilities would pass the trial Unscathed, for so
soon as it was ascertained that a bank nole_ colild
at any moment be converted into silver, the desire
to make such conversion would generally cease.
Banks, tketeforev.that are fealty sound need enter
tain no apprehension for themselves, and still less
need tho friends of the people feel any apprehen
sion. It is true that solvent.banks would he im
mediately prostrated by such an act, while a dis
tant day would enable them to .peculate still
ther. But surely it will not bo pretended that in
solvent banks, any more than insolvent individu
als,.arc entitled to, leniency; arid _it is idle. to. urge
that tho creditors of an insolvent debtor can here
lioved.by protracting tho time at which his .insol
vency. shall become Certain and absolute; A bnnk
that cannot pay to day, cannot pay a month or six
months lienee, and tho only result of'grunting the
additional time would he to allow ittp accumulate
indebtedness. If the Legislature should .fix the
Ist of August as the period of.reaunription, will
not every institution which feels .and knows its ul
timate inability to discharge its obligations occupy,
tho interval in ,th? use of such means as will serve
to'pro ill ole its own purposes,-and instead of les
sening, increase, to ther utmost exteiit of its pow
ers, its liabilitiesf -The disgrace: and discredit of
failure must necessarily be incurred* and it would
be expectihg.tbo'rriuoh from liuthaii nature to sup
pose .that those Whir had the control of these insti
tutions would'not do the best they could for them
selves. Wo should have, therefore, the circular
tibn of the notes of. insolvent banks, increased by
every, posbible y'arielyof effort nnd stratagem, and,
of course, for every dollar th rown'into the public
channels beyond what is flowing through them at
present; there would be tlial addiUonaLamount of
less to the community.- This would bo a strange
inode■ pf"relief;:imd, jybV lb this coma if
‘we defer tho, da? of resumption. Instead of doing
good ibtllo banks that aro.jh good condition tiow,
we db therh a positive hand by. giving to; other in
fitijutiona tho powec of absorbing tlioir meanerand
ina%Mof;benefiling thepublic.-asthe
cra orfiepagitorfi of ..the iiiiaourid. institutions, \vo
add to' thraSlßuntyif tliolrlossesby inducing them
:}o j
HlndcrhooU Association of Coinbcr
land C6unty.
The late Co'ttnly Convention recommended Com
mittees, not composed of more than twenty-ouo
persons, to bo formed in every, borough"and town
ship in the county—and instructed the delegates
fespectiyely to furnish "their quota of names for
publication. Some have promptly forwarded on
their lists, and others have not yol attended to the
matter."
The several ‘township anSTborough Committed),
arc to bo considered as forming A grand" County
Committee, with the above mentioned title.
We subjoin a list of the Committees already rci,
.ceived, and trust that the balance will ho furnished
•in time for our next publication:
IiIANkFOKp.
John Snider, sen. , lames Wallace, Esq:
Alcx’i M. Kerr, Esq; • George Kiehl,
George Drawbaugh, James Graham, ■
-John C. Snider, ■ - William Campbolli . .
John Wallace, . John M'Crda,
Samuel M’Doweli, John C. Brown, "■
1 WillihnriiSanderson, John Orris,
William'P. Swiger, . John Arnold,
Mathias Clay, Samnol Fry,
William ,Drawbangh, Philip Shambach,
George Shianbach,
HOPEWELL.
John Caraon f- , Joseph M. Means, Esq.
John S-. Ha\vk, Demjr G. Miller,.
Frederick F. Isenhawcr, William Wherry,
John M’Coy, , William Mitchell,
James Henderson! jr. George Cumrcy,
Robert Elliott, John Elliott, ,
John Cfarg, David Wherry,
James Shoemaker, Thomas HtfUcfingcr, '
Wilifam Confaic, . Joseph Barr, °
John Stonier,' Benjamin Shulenbergeiy
Joseph Hoover,
ME CH A NIC S 81l R'O-.
Dr. A. H. Van Hoff, . Thomas Bruner,
David Criswell, Dr. W. W. Dale,
George F. Cain, Esq. George Skamer,
I. N. Hyers, Michael Baker,
George Schroader, Jnccb'Uupley,
J. T. Ayres,. .. - Dr. Ira Day,
David Cromleigh,- Isaac Kinsey, .
Jaqpb MilloV, David Worst, - o
Frederick Wondcrlich, Daniel Reamer,
John Hoover, N. Whisler,
Samuel Kutz.
NORTH MIDDLISTON:
David Williams,- Christian Kinarf, .
John C. Culver, Petra {loward,
John,Brannon, . Dillcr Ringwall,
Michael Fishhum, Peter Lehn,
John Wonderlirb, Peter Hettrick,
Alexander Cornman, Robert Gillin, ' \
William Common, Michael W : isr,
George Brindle, Ah’m Laftiberton, Esq,
Samuel Fisher, - David Wolf,
Joseph Culver, ' John Wetzel,
Jnaoph Wetzel. ,
' NEW CUMBERLAND.
R-R-,Church, W. R. Gorgas, Earn
A, Wills, Esq,. . , J, 13. Drawbaugh,
George Ernest, Val. Feaman,-jr,
, D. Brook's, J. Bcninger!
J, M. Gorgah, J. Hcck.qr.
J. Hickernel), T A; C. Cummins,
J. Ci. Miller, Dr. J. Crain, ‘ '
Dr. C. W. Dchb; Wm. Brooks, jr.
J. Springer, ' JohiTßalsh y, ’ '■
■J. : M. Ecklc#, J. Kauffman-,
J. Feamam
NEWVILLK. ...
VViHiapi KliiiV,
I). S. Dunlap,
31. J. Vanre,
Thomas Chisjnv,
William Crotzer,
Alexander L.ltvinr,
Joseph Waggoner, Esq. Thosi M'Cullooh, Esq'.
John I).V,anderhel'tj Esq. Samuel Baker,
Joseph Rhoads, • Sa.biUel Male,
Joseph M’lCec, jr. John Slough, Esq.
Skilcs Woodbufh, John Sharp,
Elias Diehl, . William Gracey,
Abraham Seavers, William Ruth, •
John Hoover, John Poubly,
James Kyle, George Maxwell,
William Boyd, Peter A; .Trill,
W. Storret, ■ John M’Dowcll.
Jolm Hefllcman*
James Gilmorb,
Andrew J, Kortn>
Robert W. MUvcr,
AbramKillinn,
Samuel Ah),
SOUTHAMPTON.
James Willis, Estj. Robert M’Cuno, E^q-:
John K-i Kelso; Br-fj. Cok John Snyder,
James Moore, Daniel S. Croft,
Henry Hock, Samuel Fulton, ,
John Halter, . - JacbbOtt,-
David Reese-, William Gulden;
Samuel Noaer?-; John Britton,
John Cromer, Peter Duey,
John KitzmiUeV, James Kclso^jr.
Jacob Crciner, William G. Duncan;
Abraham Hcch.
THE BANKS AND THE .STATE.
The following remarks from the Pennsyfvanian>
'on the subject of the proposition made by the
adclp&ia Banks,-ate So. ranch to ike point, and so
fully accord With onr own views of tho iuaitet,
that we cannot refrain from giving them a place in
our columns:
“We mentioned-a few days sincelhere
port that the Banks intended to offer to the
commonwealth cettaiu.quantitiesjof their ir
redeemable and depreciated paper in trade
for, an indulgence in suspension for a year*
arid we have since-heard nothing, to induce
the belief that the report was erroneous. It
may>-we presume; - be taken for granted that
it has sorite foundation, and it cannot there
fore he amiss to say a few words iri'regard
to this supposed plan of operations,'which
deserves to be ranked among the monstrosi
ties of the tiine.' ‘ Even if it should riot live
longer than cnorgh UT draw asobbing breath
arid to Utter a plaintive cry, it is entitled (6
a place in the political museum, among oth»
*r “alligators stuffed,’*
Taking"it for granted that a scheme of
this character is .in contemplation, arid that,
.the poverty, not the will, of Pennsylvania is
relied on (or'the consent, tlVc nTa iter presents
itself in ■several interesting points of .view.
In the first place, it is clear thatif an indul
gence be thus purcliased, there wijl bc no
resumption at the end of the time specified.
It the trading principle be recognised; why
should there bef The bargain would only
be ah adjournment of mutual difficulties;
.nothing else. The State, then as now, would
wapt more money—the Banks. thcrias now,
would want more time, rTlie reosoDBndmif
ted as cogent in 1840, would be quitc as im
perative.in 1841, and for many years at the
back rif it; and the hint,'thrown, out, in the
suspension address of the Banks; published
last October, in reference tb the Bank of
England,, and specie payments withheld fot -
twenty yepts without-any material damage,
would be in a fair way to be realised.. -Dis
mountlegal goVernment and fairly Jift thc ’
Banks into the saddle! as’ tliis schcrae con
templates, anilweshourdfiridourselvesiri
the bands ofa *‘roughrider ,, riot easily
ehakeri .aißl infent unori tcachingris the
mosfcajjproved paces;
at once brought forward as rulers in the cab
iuet and as /politiciaris in the field. , . .‘J’hey
could and would insist upon concession af-
ter-concession. .It would! beTcruel ; to withT
kold the public would ~