Full text of "Niles national register"

COHTAIMIIfO

POLITICAL, HISTORICAL, GEOGRAPHICAL, SCIENTIFICAL, STATISTICAL,
ECONOMICAL AND BIOGRAPHICAL

SiTlJn ISV TEE X> rVf 2TFD *f
SMJ J^j 1 2* e^jwl* 1^^

TOGETHER WITH

NOTICES OF THE ARTS AND MANUFACTURES,

AND A

RECORD OF THE EVEJVTS OF THE Tl.JIES.

II. MILES, EDITOR.

THE PAST THE PRESENT FOR THE FUTURE.

FROM MARCH, 1831, TO SEPTEMBER, 1834 VOL. XLVl.
OR, VOLUME X. FOURTH SERIES.

PRINTED BY THE EDITOR,
AT THE FRANKLLV PRESS, WATER-STREET, EAST Of SOUTH-STREET.

IJVDEX TO VOLUME XL, VI.

Abolitionists' riots ffiv332,
Abolition laws of England
Accidents

ion* For things happening in Great Britain, France, kc. or the several states, see their own
proper heads; ihNX'ngre*!, see congress, &c.
rtin W2; U

Adams, JohtvCW t^ort >> >K Po
arioiis S3, 64V"n internal- inl)trhv<

lk 51;

380; hi* views of the pressure and t^lief
121; literary works of 2.">6; reply to ihe%ia
lem invitation 409; suppressed epeech 448

Addfngton, II. r.
-fErolites, fall of
./Kronaulic expedition

119
'177

Jlfrica sale of Cape Palmas 174; slave

trade

317

Agricultural labor reduced by improved

implements, Stc.

345, 393, 426

march f civilization in 366
Alabama t>f Ihe controversy 35, 118;
meetings 87; the Alabama river 255; elec-
tions 430, 443
Albany Argus 114,187,242,259,291
Allan, Mr. of Ky. 122
Alley, Saul 243
Allen, Mr. of Ohio 361
Amendments of the constitution 421
American Weekly Mercury 334
American ingenuity, Mr. Bates' on 388
Americans, foreign opinions of 302, 388
Ancient opinions 334; copper coin 384;

jealousy over the purse-Firings
Andrews, M. A. death of
Anecdotes

428
444
17,185

Annual production!* U. S. essay on the 1
Anti masons, correspondence between
gov. Davis and the 433

Appointment* by the president and the
senate 18, 13-2, 149, 291, 297, 313, 314, Xl-2,
347,369; appointment of editors 314

Appropriations by congress 348, 447
Arbuckle, col. Matthew dinner to 379
Arkansas Judges' draughts 347, 362;
cholera 205

Army, U. 8. 156, 381, 389; promotions,
lie. 407

Arson 191

AuduhonV ornithology 33-2

Aurora, the 407

Australia 413, 423

Austrian frigates arrive 85

Awful calamity 149

Baltimore Siisquehannah branch bank
5, 33; bank of Maryland 65, 66, 67, 94, 108,
218, 245,255; U. S. Insurance Co. 145,245;
Saving;' Inst. 171, 245; report of the com-
mittee sent to Washington, with the cards,
letter*, kc. and ease of Mr. Mi-Kim 30,
34, 49, 55, 56, 57, 70, 81, 107, 203; the
market house memorial 81; pressure at 87,
133; number of buildings 87, 346; sale of
properly 118; orphans' fair 118; Mechanics
bank 133; Savings bank 185; Franklin do.
190; Union do. 347; congressional orators
at 129, 146; whig meeting 130, 165; Jack-
son do. 173, 196; riot 130; politics 190, 203;
Virginia money in circulntion 133; insol-
Yent*86, 118,133, 149; honors to Lafayette
329; produce from Wheeling 430,442; Ta-
ney, Mr. at 361; the John Giluin 381; emi

hank ntf Tennessee
iiks iuc.oj>nrated It,
81, 86, 188,299; bank ol Suffolk 85; UinVn,
of Maryland 67, 68, 347; safely fund banks
*TN.X"fX **! Mechanics' ha'nk of Balti-
more T35; bank of the Metropolis 17-2;
Farmers and Mechanics bank ol Albany
118; Savings bank of Baltimore 185; Me-
chanics bank ol Patterson, N. J. 245; New
Hampshire banks Uoll; of the slat': banks
356; Augusta hanks, Geo. of the combina-
tion of 411; robberies of certain 172,245,
301; plan for equalizing the circulation 299;
bank U. S. statements ol'iis discounts, con-
dition, kc. 33, 54, 126, 184, 242, 257,330,

362,411,432; imporlai sol specie by 133,

value of the notes of the 86, 168; dividend
332; facilities of the 86; proceedings of the
hoard 127; nomination of directors, kc. 1,
35, 50, 145, 169, 180, 182, 188, 203,217, 213,
332; resolutions of the legislature of Penn-
sylvania concerning the 85, 428; certain
paragraphs concerning 86,87,205,364,427;
Albany memorial for a branch 126; of the
examining committee 149,171,187; of the
publishing their report 217; the reports 221
225; branch at Portsmouth, N. H. 130; in
consistencies of its enemies 97, 98; vote of
the Pennsylvania delegation 19; of its dis-
counts 21 7, 257, 362; Mr.Biddleand the N.
Y. com. 355; editorial remarks 98, 109; com.
mittee on finance in the senate, correspon-
dence with the 370; the Lyile correspon-
dence 310; N. Hampshire resolutions con-
cerning the 335; profits by the gold bills

394; congressional reports

grant* 398; health of

399,444

Balloons 85, 148, 177, 293, 379, 397, 444

Bancroft, Mr.

149, 401

Bank* failures of the bank of N. Binns-
wick 5; the Port Deposit**, at Baltimore 5,
33; certain in the Dit. of Col. 97, 113, 117,
1*2, 33(1; bank of Maryland 65. 66,67,82, 94,
108, 118, 218, 24."). 251, 362, ::); Mil. Sav
ings Inn. 171,245; hank of Chaltahooehie,
Geo. 133; hank of Salisbury 133; bank of
Millington -215; reports of failure*, kc. 18,
51,97; hank of Knsland av>; banks of Ca
nadu 356; Mechanics nnd Trader* of New
Orlean* 172; of the Valley of Virginia l.T>;
of Georgia 210; depn.'ile hanks 5, 126,399;
bank* of Piit.luirgh 17; Planter* bank of
Natchez 86,67; stale hank of Kentucky 17.
86; do. of V. Carolina 149; bank of Louis-
ville 17;Girard hank 50,67, 133, 17-2,430,
445; Western bnnkof Penn. 17; guarantiee

38,57
255,256

Baring Se. Hi-others

Barry, W. T. 203, 313, 388, 396

Barbarism 381

Bayard, Janrts A. 1; Richard II. 24-2

Beardsley, Mr.

87, 149, 214

lands 9%p; fire 404; Grc-y, lord 5, 431; 444;
l*-tonn yei. irt>pN-%m lit for debt 415;
MWnd, statiIW;O>f *18; riols'"t4,209. 351,
84, 404, 431 ; ol Ihejt^iil of tTTe union 209;
real funeral 209; famine jn 414, 431; cner-
:ion bill 404,415,444; Jewish disabilities
J50, 389; king's speech 54; his drawing
IMIIII 101; declaration 33-J; address to the
irelates 351; knowledge, lor the promotion
if 404; laborers 428; Lander'* expe.d. ifcc. 5,
209, 260; libel 404; Mma. gen. 383; ministry
303, 33-2, 350,399, 4-26, 431, 444; militaiy pti-
it8hmenl444; money 86,218, 351; Morn-
ig Post 404; Napier, adm. 404; navy 102,
404; N. Holland 383, 39"; Nova Scona 332;
O'Connell 209, 351,413; parliaments!, 209,
351,389,404; Polish exiles 351; poor rates
365; poor laws 415; population 174, 381;
:>roxy voting 102; protestants 383; queen
101, 332, 351,415, 444; railway paii-li ratca
150; reforms 102, 209,256, 365,382; reve-
nue 5, 102, 174; Rice, Mr. 383; riots 102,
174; relation with Russia 5; shipments to
America 5; specie exportation* 1,21; sta-
tistics 119, 174, 191,253, 365, 3*1, 382, 384,
404; stocks 174, 260; storm 5: larnffim
queen 101: trades' unions 280: treaiy with
tl:e four powers 351: vestrymen 191: Wel-
lington, duke 444: wheat, importations, of 5
Brown, George 56,72,81,133

Brown, Alexander 81, 87, 95, 102

Brown, John A. and the president 85
Brutality, case of 153

Bryant, Mr. 314: Burden Mr. 398

Burges, Tristam 396: Buller, B. F. 97,297

Cabinet at Washington 291, 313, 331,347
Cachemire shawls 422

Cage, Mr. 84, 203

Calhoun, John C. his speech on the pre-
sident's protest, 213; his reply to an invita-

Belgiiun affairs with Holland 102,351;
rebuilding citadel of Antwerp 431; king
burnt in effigy 102; his visit to Paris 431:
his difference with the duke of Orleans 119;
Jerome Bonaparte ordered to quit Brussel:
383; riot in 209; Orange predilections 351

Bentick, lord William
Beriton, Thomas H.
Bibb, Geo^M.

316

148, 173, 259, 361
416

Bills, on England 86; of credit 201, 210
Binney, Mr. 129, 146, 29

Birds, account of certain 16"

Black, Mr.

Black wife wanted

84
346,380

Blair, James, death of 85; Blue book 293

Bonaparte, Jos. N. protest against the

proscription 254; Joseph, Liicir.n and Je-

rome 332, 383, 429; the family claims 444

Book manufacture in U. S. 87, 44:

Borrowed capital 87

Boston wxcliangpK 84; discounts 87; ar

rangements of dealers 86; pressure in 86

whig salute 1 16; revenue 99; debt 174; salei

of wool and woollens 150, 19U; gamblers

punished 174; Bunker Hill monument lt-9

Potomac frigate at 256; "figure head" 189

329, 347; collection for the Poles 348; na

lionnl ve-seis at 381; cause of fire in 384

relative to the burning of the convent 413

43H; school festival 4<

Botildin, J. W. r,

Bowen, Thoma* C. elopement of 17

Breathitt, gov. death of 1

Breach oftrust 172

Briliih affair*.
Agricultural distress *r9; Amer. charge
383; arrival (valuable) 444; bank 356; hooki
donations of'3H.V, Hilten, bishop 404; Boyd,
Mr. rase of hi* murder 404; Brougham, lor<
404; Cambridge :i^3; cholera 383, 4:tl; Car
In*, Don. in 383; the church, kc. 10-2, 260
350, 35 1,382, 383, 403; convict* tranporl

5; corn laws 5, 109; cro

; debt 119.382

384; the drama 205; Durham 404; emigra
lion 383; equivalents of gold and wheat 382
expenditures 174; execution* 191 ; Falklan

tion to a dinner
Caldwell. Mr.

405
384

Canada dissentions in 35.85,191,244,
York, called Toronto 148; Mr. Gates 149;
commerce of 253; emigrations 244, 260,
368, 381,429, 442; statistics 253; banks 356;
competition on the St. Lawrence 332; co-
lored settlement 347; cholera 362, 379, 399,
412, 429, 442, 444; internal impro. t 410

Canals Chesapeake and Ohio 101, 119,
1X1, 149, 326, 442; New York 173; Penn-
sylvania 173,255,256, 301; Erie 191; Che-
sapeake and Delaware 260; Delaware and
Raritan 260; steam navigation in 301; sheet

Carriage wheel guard
Cape de Verd Islands
Cape May, trip to
Carey, M'. compliments to
Carrington, Mr.
Cas, gen.

iron gig? 382; grand project of a ship 442
~ ---'- ' 317

167
315

121, 433
146
42!)

Censuses of the U. S. tabular statement
of the several 424; continuation of do. 425
Challenge to duel 203

Chambers, E. F. 33, 146, 298, 409

Charles X and Don Carlos 383

Chilton, Mr. 173

China trade nnd the U. S. hank 86; Chi-
nese crack eri 315

Cholera 35, 102, 173, 174,205,21* 255.
256,260, 292,316, 332, 361, 3fi2, 379,38s!
399, 412, 429, 431, 442, 443, 444; Dr. Man-
ley's prescription for Ihe 431

Christ, Dr. Cox on the complexion of 301
Christian publications 404

Church proscription 260

Churchill, Mr. of Maine 409

Circulation of values, kc. essay on the 1
Circumnavigation 315

Classification of the hnmnn species 301
Clay, H. 67,204,241,257,2.19, 395; lejlem
from 166, 417 see ronerc?*; accident to 329
Clayton, Mr. of Del. 109, 314 see eon-

Clayton, Mr. of Georgia
Cloth*, sale of

231
190

Coal, duty 132; trade 315, 397; discovery
of in India 316; do. in Gieece 384; regions
in lYnn-j Ivama 386

Cobbetl's slander of Lafayette 260; his
jiroianiiy 314; views on education 3U3, 4Ul

cUliurii, admiral
Culiin, fir Isaac
Colhn, captain Joshua
Coincidence of deaths

174

4 -''.)
444
360

Coins value of ccium 252,300; coinage
in France 315; U. .S. laws regulating 321,
337, 338

Golden, Cadwallader D. death of 1

Colonization society <>l Maryland 174
Columbus, Christopher 380

Coinlis ]9l

Commercial Intelligencer 06

Commercial terms 397

Commerce and navigation, U. S. 99, 346,
361, 371; do. of New Yoik 410

Conlessional, the 173

Continuation:; liy the U. S. senate 329
Congress.

Adams, Mr. J. Q. 8,25. 38, 51, 53, 107,
137, 138, 152, 176, 177, 193, 220, 221, 247,
848, 262,253, 307,321; oa thedeposile banks
89, 9U, 262, 295; to amend Hie journals 137,
138; to restrict small notes in Hie District
152; concerning Hie majority of the bank
committee 220; paying Honors to general
Lafayette, 306; adjournment of congress
107, 151, 194, 195, 207, 220, 246, 262, 305,
319, 320, 321; agent for tin: deposit*: banks
103, 104; agent at Havana 194; Albany me-
morial card concerning 119, Mr. Web-
ster's explanation 134; Allan, Air. of Ky.
70, 89, 90, 106, 207, 247, 248; Allen, Mr. of
Vt. 106, 177; Allen, Mr. ot Va. 193; Alley,
Saul IsJ; amendments of the constitution
421; American stale papers 192, 206; An-
thoiiy, Mr. 69, 106, 120, 5207, 295; appro-
priations 7. 8, 38, 53, 69, 89, 90, 107, 119,
120, 137, 138, 150, 151, 152, 176, 177, 192,
193, 194, 195, 206, 207, 262, 263, 294, 295,
296,304, 31)5, 3U3, 307, 318, 319,320,321,
Archer, Mr. 38, 90, 176, 177, 30o, 307; Ar-
kansas 175, 192, 248, 321; army 38, 53, 69,
88, 192, 194; ladies of the 107; pay ol sur
geons25l; fortifications 207, 296, 320,321;
urmory 53, 2o2, 294: Ashley, Mr. 70, 152
Baltimore whig meeting 151;certain ve
sets sunk at 296, 305, 306: marine ho.-pilal
321; balances 296; banks bank U. S. me
mortals, resolutions, &c. 5, 6, 7, 8, 22, 23,
24, 25, 35, 36, 37, 38, 51, 52, 53, 54, 57, 67,
68, 69, 70, 87, 88, 89, 90, 103, 104, 105, 106,
107,119,120,133,135, 136, 137, 150, 151,
152, 175, 176, 177, 192, 194, 206, 207, 21,
219, 220, 245, 246, 261,262,263,295,296,
304, 305, 306, 317,319, 320; transfer draughts
206; monthly returns 23, 295; Mr. Web-
ster's resolution 7; his bank project 52, 53,

67, 68, 69; Mr. Adams' resolutions 220; Mr.
Clay's joint resolutions 219, 245, 246, 295;
call on the president for a project 120; Mr.
Duncan's project 151; investigating com-
mittee's reports 208, 221, 25, 233; printing
of do. 220; Western hank ol Philadelphia
7; Hartford bank 7; Phenix bank 7; Con-
necticut river bank 7; New Bedford banks
7; Planters' bank at Natchez 7, 22, 23;
Connecticut banks 8; Mr. Southard's call
for information 175; his resolution institut-
ing inquiries 318, 319; Union bank of Md.

68, 88, 102; agent of the deposits 103, 104,
119; Disliujt hanks 119, 120, 136, 137, 151,
152, 206, 248, 295; employment of state
banks 157; nomination of directors 182,
183; small notes in the District 248; Mr.
Adam's call for information from deposile
banks 89, 90, 262, 263; general abstractor
the number and situation of state banks
356; Banks, Mr. 69, 177, 193. 194. 207, 246,
247,248; Barber, Mr. 321; Barringer, Mr.
177; Barniiz, Mr. 69, 70, fc9, 106, 194, 207,
220,2fi3; Bates, Mr. 120, 177, 194; Baylies,
Mr. 9U; Bayard. Mr. 183; Bayou pigwim 207;
Beardsley, Mr.' 8, 90, 106, 120, 135, 176,
194, 2->0, 247, 263; Beale, Mr. of Virginia
106; Bean, Mr. 120; Beaumont, surgeon,
38, 207; Bell, Mr of N. H 37. 150, 207,200,
304; Hell, Mr. of Ohio 230; Bell, Mr. ofTen.
speaker 24S, 284; Beaty. Mr. 151,248, 263,
295; Benton, Mr. 67, 68. 88. 104, 133. 134,
135, 176, 192,206,218, 219, 245, 246, 262,
304, 318, 319, 403, 421; Biliti, Mr. 52,53,68,

Mr. 8, 23, 24, 53, 69, 106, 107, 120, 138, 176,
207, 296; Black, Mr. 22, 52, 175, 31U; Blair,
Mr. ol S. C. 69, 00; Boon, Mr. 107, 137,
138, 151, 193, 1K4, 195, 208, 220; BoulUin,
James VV. 89; hooks lor the u.-i: of mem
tiers 53; bounty lands 53; lirevel rank ^45;
Brings, Mr. 'JO, 138, 207, 220, 248; Brown,
Mr. of N. C. 7,38,52, 103, 15U, 151, 170,
206,295, 304; Brown, Mr. of N. YOIK 193,
194; Hinges, Mr. 38, 53, 54, 69 70, 90, 104,
10S, 120, 170, 177,248, 263, 296, 306, 32J,
321; Burd, Mr. 207, 220; his resolution to
connect the Chesapeake and Uluo ami
Pcnn. canal 220; Bynuni, Mr. 106, 177, 193
Cage, Mr. 70, 194; Calhoun, Mr. 52, 53,
67, 68, 89, 103, 104, 134, 135, 136, 154, 161,
175, 176, 295, 304, 318, 319, his umcnuinenl
to Mr. Poiiulexiri ' resolutions on the pre
.-nlent's protest 175; his speech on do. 213;
Cambreli-ng, Mr. 8, 137, 193, 195,262, 320;
Campbell, Mr. 8; calls of the house 263;
Canals Louisville and Portland 25; Che-
sapeake and Uhio 88, 193, 220, 263; James
River 207, 208; Appalachicola and St. An
iliews 246; Alexandria 246; WabaMi and
line 304; from Michigan to Illinois 306;
canals and rail roads 321; Carr, Mr. 120;
census, classification 317; Chambers, Mr.

177; on the propositions to reduce certain
salaries 193; on the adjournment of con-
gress 221; on Mr. Adama' resolution call-
ing lor inlormaiion conctrning Ihe depm-iuj
bunks 262,309; on the navy ration bill 320;
on lh resolution amendatory of the cou-
sliliiunn relative lo the election (if presi-
dent and vice president 421; Decatur, Mr*.
Susan, 8, 23, 137, 151; Delaware remon-
strating against the prote.-l 193; Denny,
Mr. 23, 207,248, 296, 320; Dennis, L. P.
death ol, 119. 120; depo<-ue banks 69, 90,
119, 137, 262, 263, 296,305,306,319; Mr.
Webster's report 327; niimlier of depo.-ue
nienioiiali-ts 119, 150, 262,299; Dicksou,
Mr. 177,207; Dickeroon, Mr. of N. J. 7U,
90, 106, 194; digest of stale banks 306; di-
plomatic services 90; do. correspondence
192,248,294; do. code 262,319; director*
U.S. bank 183, 184; Dislricl ol Columbia
slavery in the 25; Pennsylvania avenue
70; Potomac bridge 90,263,319,3*1; Alex-
andria 8, 90, 263, 319; do. canal 246, 321;
Ihe failure of certain banks 120, 136, 137,
151; appropriations to the corporations of
the, 262; do. lo Ihe cily of Washington
262,263; various 262,263,321; small notes
152,248,263,321; discriminating duties of

ol Md. 5, 7, 23, 37, 135, 150, 151, 175, 206, | the islands of Cuba and Pono Rico 53; di-

219, 245, 2ti2, 294, 295, 304,318,319; Ins
resolution concerning draughts 150; Cham
hers, Mr. of Pa. 69, 191,220; chaplain house
321; chart of foreign coins 246; Chesa-
peake and Ohio canal 88; Chilton, Mr. 38,
90, 106, 120, 138, 151, 152, 177, 296; his posl
oflice expose 151; Chinn, Mr. 70, 246;
Cnoctaw reservations 88, 104; Choate, Mr.

70, 89. 90; Clarke, Mr. 90, 177; Clay Ion,
Mr. of Del. 7, 35, 52, 68, 89, 103, 104, 1 19,
134, 136, 161, 164, 175,192,193,206,218, nating
245,246,248,305,318; remarks on the New
Ceulle mem. 22; do. on the protest 154, 164;
do. on the Cherokee mem. 264: Clayton,
Mr. of Gto. 136, 193, 208. 221, 264; hi* res.
on the salary of oilicers 136, 137; report
306; his statement of the N. York custom
house 193; relative to the bank of U. 8.251;
Clay, Ml. of ICy. his res's. on the deposits
question 7, 23, 51, 88; his joint do. on do.
219, 245, 246. 295,296; do. on the president's
powers 37, 103; do. on the Union bank of
Maryland 68,88; leply to 102; various 7,
22, 23, 37, 52, 53, 67, 68, 69, 87, 88, 89, 104,
119, 134, 135, 136, 150, 151, 152, 175, 176,
192, 193,206, 218, 245, 246, 262,295,304,
317, 318, 319, 320; his land bill 175; his
report on do. 268; his appeal to the vice
president 36; his allusion to the presence
of tlie regency 204; his views on Hie force
act 104; his remarks on the presentation ol
the Berks county memorial 7; on present-
ing the Troy and Schenectady niemoiials
125; do. the Doylestown 204; his amend-
ment lo Mr. Poindexlcr's protest resolu-
tions 135; resolutions concerning the re-
venue 176; Clay, Mi. of Ala. 24. 69, 70, 120,
194; Clowney, Mr. 8; coins and curren-
cy 88, 90; committee ;;n finance to sit in
the recess 318, 319; do. to wait on the pre-
sident 319; commutation bill 107, 193; Con-
nor, Mr. 23, 24, 151, 194, 296; speech of
210; constitution 219, 246, 262; Corwin,Mr.
106, 107, 119, 120, 152, 207; cotton, loss on,
by the experiment 151; Coulter, Mr. 8, 176,
263; counterfeiting of foreign coin 90; Cra-
mer, Mr. 107; Crane, Mr. 107; Crockett,
Mr. speeches of, 8, 38, 221, 295, 321; va-
rious 295,296; Croghan, col. George 206,
295; Cumberland road 69,89, 107, 176, 192,
194, 195, 296; Cumberland river 151; cur-
rency and coins 88, 107, 177, 194, 245, 252,
294,296,304,318; Cuttis. James 304; cus-
tom house officers 107, 121, 152, 175, 176,

tribuiion of the census 264,295; district at-
torney's, U. S. compensation of 152; docu-
mentary history U. ti.304; Duncan, Mr. In*
project to renew the U. 8. bank charter
151,207; duties on locomotive engines 53,
319; do. on certain pieces of sculpture 69;
on sugar 89; on imports 206, 207, 219, 262,
293,294; on ceitain church bells 206; on
hardware and manufactures of copper and
brass 219, 319; on lead 295, 306; dmcrimi-

296

Ellsworth, Mr. 25, 70, 137, 220, 247, 296,
321; Elliott's diplomatic code 262, 319;
election of speaker 248, set contested elec-
tions; election of president and vice presi-
dent 421; Evans, Mr. ot Maine, 53, 90, 120,
151, 220; his propositions relative to the
deposited 137; Everett, Mr. E. 38, 90, 306,
320; his bank report 225: Everett, Mr. H.
8,53, 151, 176. 193, 207, 248, 307; Ewing,
Mr. of Ohio, 7, 35, 38, 67, 88, 89, 104, 119,
134, 155, 161, 175, 192, 206,219,245,261,
304, 305, 317, 318; his resolutions concern-
ing post office department 67, 88, 261, 262,
318; his report on ditto, 273, 318; con-
cerning district banks 119; Ewing, Mr. of
Indiana, 24, 89, 107, 151, 177, 192, 193; of
his plan concerning national currency 107;
executive business 5, 7, 8, 22. 23, G"9, 88,
89, 103, 134, 136. 151, 175,176, 192,207,220,
262, 294, 295, 304, 305, 318, 319; executive
powers 37, 103; examinations ai.d surveys,

247

193, 295; do. revenue

305

Darlington, Mr. 106; Davis, Mr. of S. C.
107, 193.296; on power and patronage 107;
Davis, Mr. of Ky. 220; debates in the senate
on the presentation ol deposits memorials
5,6, 7, 22, 36, 37,38. 51, 68, 151; motion to
clear Ihe galleries 133; on the president's
protest 161,213,249; on the Seneca coun-
ty resolutions 192; on the Indiana me-
morials 218; on the po-t office dep. 403; do.
in I hi: house f reps, on the presentation ot
memorials. &.c. on the deposite question
23, 24, 25, 3?; on the general appropriation

103, 119, 135, 136.150, 175, 192, 205, 218, bill 176; on the motion to print Ihe evi-
219, 646, 261, 262, 294, 319,421; Bimicy, I dence in the case of Letcherand Moore

Sic.

Fillehrown, Thomas, jnn. 103; Fillmore,
Mr. 8, 53, 69, 106, 137, 208, 263, 307; Flo-
rida 248, 321; Fool, Mr. 138, 176; his re-
signation 195; force act, repeal of the 89,

103, 104; foreign coins, 90, 177; see coin*,
Hold and sitter, &c. foreign ministers, 176;
Forsyth, Mr. 5, 7,22, 37, 38, 67,68, 88, 103,

104, 134, 135, 150, 151, 161, 162, 175, 176,
193,206, 245,246,362, 294, 295, 304,305,
318; his amendment lo Mr. Poindeiler'*
resolutions on the president's protest, 134,
175, 176; his scire facias proposition, 245,
246; his speech on the president's protesl,
249; foitifications, 8, 207, 296, 320, 321;
Foster, Mr. 25, 90,305; Fowler, Mr. 194;
frnnking privilege 103; Frelinehuysen, Mr.
7,37,68, 89, 103,134, 135, 176, 192, 206,
245, 295, 305, 319; remarks on introducing
memorial from Somerset co. 135; French
spoliations, 23, 206, 245. 261, 262, 294, 295,
308; amount of claims, 308; French treaty,
extens-ion of the commission under the
150, 177,294; Fuller, Mr. ofN. Y. 177, 194

Galbrailh, Mr. 69, 70, 106, 153, 207; gal-
leries, order to clear Ihe 133; Gamble, Mr.
120, 151, 177, 207; Garland, Mr. 151,177,
194,207; Georgia militia claims 207, 294,
296, 32(1; Gholson, Mr. 38, 247; Gi liner,
Mr. 69, 152,208, 307; Gilpin, Henry D. 183;
Gillet, Mr. 264; cold and silver coin*, Sec.
88, 107, 177, 194, 245, 252, 294, 296,304,
306, 318; Gordon, Mr. 23, 24, 305; Gorhnni,
Mr. 53, 177.220, 252; Graham, Mr. 120, 1SI;
Gravson, Mr. 306; Grennell. Mr. 138, 9-20-,
Griffin, Mr. 208; Grundy, Mr. 32, 23,150,

131, 306,345, 362, 395, 318,318, 320;
report uu (lie |>ni uthce 22

Hall, Mr. of Vcriuuul, 177; Hull, Mr.
North Carolina, 23, 10<j, 151; In* resolutioi
to reduce (lie revenue 23; II. ill, Mr. o
M..I.II:, 24; Hdiner, Mr. 208,247, 246; llun
liagan, .Mr. 151, UU, 264; haibois, &.C. lU
2U7,-JUO, 306, 321; ll.uiilii, Mr. 24, 9O, 136
137, lit, 177, IWj, 207,5*08,247, 248, 2o4
Haid, Mr 6ti; Harper, Mi. ill Penn. 23, 6U
VU, US, l; Hau-es, Mr. S, 24, 1U4; Haw
kin:, Mr. 320; Heath, Mr. J. I'.'-JO, 13*5, 346
Heisler, Ml. VJJ, 69, 207, 220, 2yti, 321
Hendricks, Mr. 06, by, 136, 206, 218, 318
319; his remarks on presenting ceriain me-
morials in liivnr ol the bank, 218; (lender
on, Mr. ol Tenn. 106, I 'JO, 1U4; Hill,. Mr. 7
2J, -H, 304; hospital money, oOO; hour o
meeting 59, 3Ul>; Hubburd, Mr. 137, 138
308, 246, 246; Hudson river, 319, 3-20,321
Huiitiuitlon, Mr. 177, 193; Humuidun, (N
J.) 245

Indiana, concerning a grant of land to
264; Indians, and Indian attains, Choclaw
reservation^, 22, 88; Wyaiidou, do. 89; ap-
piopriati..ii lull, Jyo, -JUti, 207, 30(j, 307;
Mr. Lewis' proposition, 195; annuities ol
the J95, 293, 305,307; Cherokee*, 206, 304,
305; organization of tin; Indian department,
207; trade and intercourse, 207, 307, 319,
321; establishment ol the western territory,

207. 30V; report of tlie committee, 29ti;
Indian department, 307; treaty with the
Creeks, 307; see laws; insolvent debtors,
192, 206, 207, 220; institution for the deal
and dumb. 245; internal improvements, 69,

89, 107, 151, 177, 306. 319, 321
Jarvi*, Mr. 53, 120, 136, 137, iol, 193,
320; Jefferson's statue 70, 320; Johnson,
U. M. 38, 53, 107, 15-2, 207, 247,263,321;
Johnson, Cave 194, 321; Junes, ol Ueo. 38,
177,207, 208, 220, 248, 296; journals of old
congress 89; judiciary, U.S. 88,177,206,305
Kane, Mr. 7, 52, 68, 89, 134, 136,
176, 183, 193, 218; Kavanagli, Mr. 9J;
Kent, Mr. 7, 67, 84, 119, 133, 150; Kentuc-
ky contested election 177, 193, 194, 207,

208, 220, 246, 247, 248, 263, 264; King, Mr.
of Ala. 22, 53, (Hi, 68, 104, ltd, 134, 135,
161, 175, 304; King, Mr. of fa. 23, 69, 220;
King, Mr. of Geo. 37, 52, 69, 119. 246, 318;
Knight, Mr. 175, 192, 295

Lalayelte, gen. token of respect to 304,
305, 36; Lands, the public Mr. Poindex
ter's resolution 22; of certain Indian rescrv.
22, 88, 104; frauds by agents 23, 303, 319,
321: Row's deposition 326; graduation of
prices of 296, 319; Georgia resolutions
concerning the 25; Ohio do. 103; bounty
lands 53, 103, iaJ. 32M, 321; number of pa-
tents ready for signature 88; school reser-
vations 119; <to. selections 305; Mr. Clay's
call (or certain information 150; his bill ap-
propriating Ihe proceeds, &c. 175; printing
report on do. 175; Im report 268; various
17a; Mr. Poindexter's call 219; surveyor
general 207; grants of townships to certain
states 319; donations for schools in Ohio
246, 231: grant to Indiana 264; receipts
from sales of 294; additional districts lor
Ibe sale of 294, 305: claims in Alabama 294;
do. in Florida 321; dn. in Arkansas 321;
pre-emption rights 296; grants to the Wa-
bash and Erie canal 304; proceeds from
ales of the Louisiana purchase 306; Lane,
Mr. 152, 248; Lansing, Mr. 106, 120; La
pnrtr, Mr. 207; Lawrence, Mr. 177; laws,
U. 3. See lawt; Leavitt, Mr. 70, 106,
152, 177,247; Lee, Mr. 69, 70, 120; Letch
er, Itohcrl I*. Bee Kentucky, ante; Leigh,
Mr. 23, 37, 38, 52, 53, 67, 133, 134, 150. 206,
262, 421; Levy, lieill. 70; Lewis. Mr. of
Ala. 195; limitation of debate 263; light
mine* 318, 321; Lincoln, Mr. 21, 53, 136,
151, 152, 177, 194,320; his res. concerning
the post office department 152; his speech
197; locomotive engines 53; longitude .mil
latitude of certain pUces 264; Loynll Mr.
69,207,230; Love, Mr. 907; L>on,Mr. 1.V3:
Lucas, Mr. 207; Lytlc, Mr. 70, 221, 2li3

Man-uni, Mr. 7, 22, 52, 53,68, 88, 104,
206,282, :)4, 318, 319; Mann, Mr. of N. Y.
UO, -J4-, -Jii;t; Murdu, Mr. hi* resolution
coifi riitiii; the public deposits* 8, 53, 54,
69.70,89, 90, 107, 119, 120, 138, 1.11. I.YJ,
207; marine corpi -JfiM; Marshall, Mr. 90,
208, 247, 248, 263; Maryland legi-lalur*,
resolutions of the 88; marine hospitals 207,

INDEX.

McUuttie, Mr. 8, 23, 24, 38, 90, 104; MiKI-
dtrry, Hugh 183; M Kean, Mi. 6, 7, 22, 23,
35,37, 51,62, B8, 103, 104, 119, 135, 136,
150, 151, 192, 206, 245, 216, 261,262: on
changes in I'cnn. 150; on pieeiiling Har
ri.-buigh mem. 246; reasons for a vole 246;
explanation 295; McKennan, Mr. 8, 106,
120, 138, 151, 152, 296; McKay, Mr. 8, 151,
177. J94, 264; McKim, Mr. 23, 24, 120, 137,
207, 296, 320; Ins financial project 296: Mc-
Kinley, Mr. 8, 89, 90, 138, 152,247; Me
Vean, Mr. 70; Meade, Kichard VV. 137
members of congress, pny, &c. 306; Mer-
cer, Mr. 8, 90, 137, 138, 207, 247, 263, 306
messages of the president on the adjust-
ment of the boundary line between New
York and New Jersey 89; the protest 138
supplement to do. 144; renoniinaiing the
bank directors 180; on the Toulon disaster
293; Michigan, state government 175, 192,
248; territorial addition to 306; militia
clnims 175; survey of roads, &c. 306; Mil-
ler, Mr. 69, 70, 106, 177, 2l)7, 208, 220,263:
Milligan, Mr. 23, 24.207; Mi.-sissippi river,
improvements on the 177, 247; military
land warrants 53, 103, 263, 320, 321; Mit-
chell, Mr. 106, 152, 207; Mint, U. S. 88,
305, 306; Moore, Mr. of Ala. 22, 133, 175;
Moore, Mr. of Va. 38, 137, 247; Moore, Mr.
Thomas P. see Kentucky, ante; Morris, Mr.
of Ohio 23, 119, 184, 192, 304, 317; his
amendment to Mr. Poindexler's resolu-
tions on the land frauds 23; Muhlenberg,
Mr. 8, 106, 247; Murphy, Mr. 152

Naples, treaty with 152, 294; Naudain,
Mr. 193, 305; his remarks on presenting the
proceedings of the Jacksonians of New
Castle 265; navy and naval hospital at
Charleston 88; printing rules and rcgula
lions 193; increase of pay 220, 320; steam
batteries 263, 320; rations 263, 303, 320;
changes in the titles ol officers 303; acade-
my 303; pensions 305; navy yard at Charles-
ton 306; live oak frames lor certain vessels
320, 321; rebuilding frigate Congress 320,
321; transfer of appropriations 303, 321; N.
Jersey, and N. York 247; New Hampshire
resolutions 304

Ohio, resolutions of 103; boundary 245,
246, 231, 295; donations ol land to 246, 261;
iltiee, concerning the tenure of 37; officers
of the late war 103,262; old journals, print
rig of the 319; Osgood, Mr. 90, 120, 152,
176, 177; Owen, Hardiman 152

Page, Mr. 70; Parker, Mr. 70,90, 151,
194, 263, 320; pale.it office 193, 218; Patton,
Mr. 24, 70, 320; Patterson, Mr. 89, 207;
Paul Jones, the frigate 320; Pearce, Mr. of
a. I. 90, 106, 120, "177, 193, 194, 207,296,
306; penal law system 306; pension agency
mil the U. S. bank 7, 70, 89, 192, 193, 206,
218; Mr. Clayton's report 10; pensions and
pensioners 7, 8. 25, 90, 151, 195, 219, 220,
246, 294, 303, 305, 306, 318, 319; Peyton,
Mr. 70, 248; on executive power 136; his re-
solutions 137, 263; Pierson, Mr. 106, 320;
Pinckney, Mr. of S. C. 38, 53, 54,207; Pitts,
Sell) 261; Plummer, Mr. 70, 90, 136, 194,
!07, 220; Pnindexter, Mr. concerning the
.Maulers' bank of Natchez 7. 22, 23; con-
cerning the public lands, &c. 22, 23, 51, 52,
*8, 304; concerning the president's protest
34, 135, 136, 150, 175, 176; Hie resolution*
76; report in favor of the Polish exiles 219;
variou* 23, 51, 52, 67, 68, 69, 88, 89, 104,
19,134,135. 150, 161, 175. 176, 192,245,
246, 294, 295, 303, 304, 305, 318; his re
narks on the land frauds 303; his address
n being elected president pro torn. 318;
'olish exiles 137, 150, 192.196,220,319,
J21; Polk, Mr. 8,24,38.53, 89. 90, 107,119,
36, 137, 138, 151, 152, 177, 194, 207, 220,
263,295,296, 305, 306, 307, 320, 321; his
.in. irk- on Mr. Adams' resolution cnn-
erniiiL' the deposits hanks 309; Pope, Mr.
15, 151, 152, 220, 247, 248; population U.
. 88; classification of do. 317; Porter, .Mr.
, 175, 262. 318; ports of c-nlry, Natchez
fill; post office depnrtment Mr. Clayton's
nqniry ns to amount ol postages 7, 23; in-
quiry as lo removals 35; do. as to returns
f newspapers, &c. 36; appointment of de-
my postmasters 37; inquiry n lo the con-
iiion ot 67, 88; of Hie clerk* 136, 194; af-
air of 151; Mr. Lincoln'* resolution 152;

his speech 197; postage on periodlcsli 90*3,
245; .Mr. Ewing's resolutions 67, 88,26!,
262, 318; examining committee of the re-
ports ol 261. 262, 294, the reports 273, 282;
extra allowances to mail conlruclois 294,
296; resjliiclioii of contract* and extras 296;
Mr. Sprague's resolutions lor a committee
to sit in the recess 304, 305; committee H.
of R. to sit in the rcess 321; Potts, Mr. 8,
23, 24, 106; Potomac bridge 8, 90, 263, 319,
321; Potter, K. R's pay and mileage 246,
26 294. 304; Premiss, Mr. 37, 51, 89, 1 19;
Preston, Mr. 23, 38. 51, 52, 68, 69, 88, 89,
103, 104, 134, 135, 136, 161, 175, 193, 219,
246, 262, 294, 295, 305, 319; eulogy on Mr.
Blair 89; his call lor names of pensioners,
&c. 219, 220, 246, 318,319; president of the
senates, 23, 51, 52, 53, 67, 68, 88, 104, 133,
175, 176, 192, 206, 218, 303, 318; piesident
pro lent, appeals from lhe 134, 135; elec-
tion of the 318; president U. 8. inquiry as
to the powers of the 37; Mr. Davis' resolu-
tion concerning 107; of the protest of the
119, 121,133,134,135,136,150, 175, 176; the
prnlest 138; supplement to do. 144; ol Mr.
I). /nelson's corrections 134; Mr. Wise'*
resolutions 136, 263; withholding the
Wabash bill by the 319; the pledges to
the smith of the 177; Mr. Demon's
resolution lo expunge the resolution*
of the senate against the 319; president and
vice president 219, 246, 262; piinting old
journals 319; properly destroyed during the
late war 53, 90, 120,305,321; proUst of the
president see presitlent, ante; previous
questions 104, 193, 194, 220, 247, 263, 264,
321; provident pension fund 88; public mo-
neys, inquiry concerning the deposile of
8, 53, 54, 69, 70, 89; public officers, Mr.
Vance's pioposition to ted'iee the salaries
of 107, 121; Mr. Clayton's (of Geo.) do. do.
136; public deposiles, regulation of the 137;
public schools 246; public buildings 263;
punishment of certain crimes 192, 220
Bail rnads, branch of the Baltimore and
Ohio 103, 206, 208, 263, 321; Winchester
and Potomac 207, 248; rail rnads and ca-
nals through the U. 8. lands 54; Ramsay,
Mr. 207; Reed, Mr. 24, 138, 151, 176, 177,
194; regulation of the deposites, Mr. Web-
ster's report on the bill J'or the 327; remon-
strances against the protest 193, 262; re-
movals from office 35, 37; removal of 'he
deposites 5, 6, 7, 8, 22, 23, 24, 25, 5, 36,

37, 38, 51, 52, 53, 54, 67, 68, 69, 70, 87, 88,
89. 90, 103, 104, 105, 106, 107, 119, 120, 133,
134, 135, 136, 137, 138, 150, 151, 152, 175,
176, 177, 192, 194, 206, 207,218,219,290,
245,246, 261,262, 263, 205, 296,304,305,
306.317,319, 320: reports of Mr. Polk'
report on the removal of the deposites 24,

38, 53, 54, 70, 89, 90, 104; do. on state
banks 157; the report 38; of Mr. liinney'*
report 24, 57; secretary of lhe treasury's
concerning the Union bank 102; do. on
stale hanks 157; on lhe receipts of the first
quarter 293; on lhe affairs of the post of-
fice 23, 273, 282; of Mr. Webster's or the
removal of the deposits 88; on the bill re-
Hulaling the deposites 327; of Mr. Tyler on
the president's message miominating hanlc
directors 182; of Mr. Poindex ter in favor
of the Polish exiles 196; of Mr. Clay on the
(Hihlic lands 268; of the investigating bank
committee's re port 208, 220; the reportfi221,
225,233; restoration nfdepnsiies number
r)f petitioners, &c. 119, 150.262; retrench-
ment 107, 121, 152, 177, 193; revenue re-
duction of lhe 23; inquiry concerning the
176; evasions of the revenue lawn pnnisli-
sd 264; revolutionary scrip 262, 295; revo-
ulinnary land warrants 53, 103, 120; re-
leii'-hmei:! 306; Rhode Island senatorial
lection 23, 67, 89, 103, 104, 192, 206, 219;
iL-lii ..I wav through public lands 207, 248,
296, 304, 321; Riveo, Mr. opeech on rffiaii-

n Ins sent 5; roads Mnrs Mill 53, 2<)7,
394; Memphis 119. 176; Cumberland 69,
89, 107, 176, 192, 194, 19.5,296; in Arkan-
xn 248, 306; do. in Florida 248, 306; do. in
Michican262; Bobbin*. Mr. 23. 67, 89, 103,

04, 136, 219, 261, 262, 305; Robinson, Mr.

318; Unman Catholic church of St. Loui*

206,207, 263,321; rule* of the house 90,

263, 318,320,321; of the senate 103,104

Sale of forfeited property 264; salaries of

imcers 306; ceamen, register of American

17; Scbley, Mr. 70; schools for mariner*

INDEX.

S19; Schenck, Mr. 130; gcire facias again
Mm bunk 245; Selden, Mr. 69, 100, 152
177, 194, -Mil, 296; his proposition coi
cerning a unHorm currency 177, 194; Se
INM ,i county resolutions 1U-J; senate, hou
ol' meeting 2i>2, 305; Sevier, Mr. 8.321
Shepley, Mr. 5, 104, 119, 175, 245,261,304
tihinn, Mr. 69; Silsbce, Mr. 37, i>2, 103, 104
119, 175, 192, 263, 3U5, 318; Ins resolution
concerning the revenue anil cn.-iinn IHMI-
offieers 30j; silver coins see gold and sit
tier coins; Slade, Mr. of Vt. Iu6, 120; sla
very in the District of Columbia 25; Sloane
Mr. 2U7; Smith, Mr. of Con. 7. 319; South
ard, Mr. 5, 67,68, 69, 104, 119, 135, 175
245, 26-2, 303,304,305, 316; hid resolutions
concerning certain hanks 175; his rcsolu
tion for the committee ol finance to Kit ii
the recess 318, 319; Spangler.Mr. 106; Spa
nish convention 208, 296; speakers of the
house 24, 53, 70, 89, 90, 106, 120, 137, 138
177, 194, 195, 207, 247, 262, 263, 296, 3-20
decisions of 138, 320; Mr. S te veil son '.s an
n initiation of in ten tion to resign 246; his ad
tlre<-s247-, thanks to 321; Speighl.Mr. 89,90
138, 207,321; specie exportation* 319; spies!
relief of certain 305; Sprague, Mr. 5, 38, 52
89, 150, 155, 175,206,245,261,305,318; hi*
resolution concerning the fees, &.<:. 175;
call for amount of claims against France
207; concerning the post office depart. 304;
speech on Hie claims against France 308;
standard of weights and measures 133; sta-
tue of Mr. Jeftersen 70, 320; states' claims
(or interest 261, 294; statistical report ol
utates, &c. 319, Stewart, Mr. of Pa. 23,69,
120, 177, 194, 207, 262, 263, 296; steam en-
gines, improvements in 151; steamboat
navigation 177, 262; steam- batteries 263;
Sleele, Mr. 263; Stevenson, Andrew, exe-
cutive proceedings on his rejection 311, see
tpeaker; Stoddeit, Mr. 106, 120, 208,248;
suitar, duties oil 89; Sullivan, John T. 183;
Sutherland, Mr. 23, 24, 69, 70, 106, 138,
193, 264, 321; Swift, Mr. 37,262

Tallmadge, Mr. 7, 37, 51, 53, 319, 326;
Taney, Mr. rejection of 297, 314; tariff, 53,
C9, 89, 206, 207, 219,262, 295, 306,319, 321;
Thomas, Mr. of Lou. 8; Thoma<, Mr. of
Md. 106, 220; his bank report 221; ot do.
306; Thomson, Mr. of O. 152, 207; Tiplon,
Mr. 175,262; Touilinson, Mr. 52, 219, 262,
304, 317, 319; tonnage duty on Spanish
vessels, 207; Toulon, afl'air of, 296; pen
sioiis to the KiiJfi-icrs at 303, 305, 306; trade
with the VV. Indies 296; transfer draughts
7, 22, 23, 206; transfer of appropriations
303, 321; treaty with Naples 53, 88, 152,
192; with France 152, 192, 207; with Chili
193, with Spain 207,321; with the Creeks
307; treasury department, of the repeal of
a certain act for the collection of revenue
104, treasury draughts 7, >>, 23, 150; agent
of the new deposiie banks 119; report on the
ejiiploymeut of state banks 157; on (he re
ceipts of *iie revenue for the first quarter
293; concerning the officers of the cus
toms 303; joint resolutions on his reasons
for the removal of the deposites 219, 245,
246,295,296; rejection of Mr. Taney 314;
treasury uote project 296; Turner, Mr.
106; Turret), Mr. 8, 137; Tyler, Mr. 5, 7,
38, 51, 88, 104, 150, 192, 206, 262, 295, 304,
422; his report on the president's message,
renominating bank directors 182

Unavailable funds in the treasury 25; un-
expended balance* 294

Vance, Mr. 24, 152, 177, 193, 207, 295;
hi!! proposition to reduce salaries 107, 121,
152, 177, 193; Vanderpool, Mr. 208, 220,
248; Vandetlyn's portrait of Washington
320; Vinton, Mr. 8, 120, 151, 152, 193, 207,
220. 321 ; Virginia resolutions 23, 24, 38, 53,
69: land warrants of the Virginia liuu 319

Wal.ash river 319; Wagoner, Mr. 23, 69,
106; Wrigxamau, Mr. 53, 192,304; Wager,
Peter, 183; war department 175; Ward,
Mr. 119; VVardwell, Mr. 151, 177, 194,263,
296; waidmusing system 150; Washington,
gen. birth day 8; purchase of his library and
private papers 38,320,321; statue 262; por-
trait of 3-20; Watmbuph, Mr. 8, 23.24, 69,
220, 296, 3-20; Wayne, Mr. 89, 90, 138, 152,
177, 207. 248, 295, 307,320; Webster, Mr.
5, 7, 8, 35, 37, 38, 51, 52, 53, 67, 68, 87, 88,
134, 135, 136, 150, 161, 162, 175, 176, 177,
193, 206, 219, 220, 245, 246, 862, 294, 295,

304, 305, 317, 318, 319, 320, 327; his re
murks on presenting the 1'hilad. mechanics
mem. 36; do. concerning the Albany do. 13'
do. on the Doyleslown mem. 204; do. con
cerning Lalayellc305; hi.- report on the hi
regulating thedepositef.327; lemarkson th
post office report 403; his bank project 52
53,67,68, 69; weights and measures 133
West Point academy 103, 177, 296, 320
Whallon, Mr. 194; White, Mr. of Teimes
see, 22, 68, 104, 207, 304, 305; While. Mr
of Lou. 90, 151, 152; While, Campbell P

193, 263; White, Mr.ol Florida 193; Whit
tler-ey, Mr. of Ohio, 53, 90, 107, 119, 120

194, 207, 248, 295.296,306,307; Wilkin
Mr. 5, 51, 69, 88, 89, 134, 136, 150, 155, 192
206, 262, 304, 318; Wilde, Mr. 8, 24, 53, 90
137, 138, 176, 194, 220, 264, 305, 306, 320
his resolution on the removal of llie depo
sites 53; Williams, Mr. 8, 89, 90, 106, 120
136, 151, 177,194,247,248,296,307; Wilde
Mr. 8, 24, 177; Wirt, Mr. 8; Wise, Mr. 69
70, 106, 136, 137, 193, 194,207,220,263; hi
resolutions on the power of the execulive
136. 194,220,263; his reasons for receding
335; Wright, Mr. 7, 23, 37, 51,52,53,68
69, 88, 89, 103, 119, 133, 135, 150, 175, 192

245, 246, 261 , 262, 318, 319
yeas and nays In Ike senate. On the
refusal to receive the York county memo-
rial 52; do. on the postponement of Mr
Webster's leave to report hU bank projec
69; do. on llie report of the committee 01
finance on llie removal of the deposited 88
138; do. on the Cumberland road bill 89
176; on the appeal from the chair 135;
in printing Mr. Clay's report on the land
bill 175; on Mr. Calhoun's resolutions on
the president's protest 175; on Mi. For
sylh's amendment to Mr. Poindexter's re
solutions on do. 176; on Mr. Poindexltr's
resolutions on do. 176; on the nominations
of U. S. bank directors 183, 184; on the bill
granting a donation of land to the Polish
:xiles 192; on the Seneca county resulu
.ions 192; on the Washington and Haiti
nore rail road bill 206; on the reception of
he Cherokee memorial 206; on the report
and resolutions on the pension agency 219;
in the Rhode Island contested election219;
Mr. Clay's joint resolutions 219, 245,
246; on the payment of interest to status for
idvances 261, 294: on printing the post of
fice reports 294; on postponing the hill
conci-ming French spoliations 294; on
Mr. Mangnm's motion to amend the ge-
leral appropriation bill 304; on the mm ion
o lake up the New Hampshire resolutions
i04; on Mr. Sprague's resolutions concern
ng llie post office investigations 305; on
he rejection of Mr. Stevenson 311,312; on
he rejection of Mr. Taney 314; on tin: mo-
ion of Mr. Wright to lay the reports on
he post office on the table 318; on the first
Rsolution of the committee declaring the
inrinwing of money by the postmaster ille
at 318,403; on the bill to regulate the gold
oins of the United States 318; on la) ing
he light house bill on the table 318; on
he resolution directing the committee on
inance to sit in the recess, Stc. 319; on the
lotion to lay llie bill lor the improvement
f the Hudson river on the table 319; on
he engrossment of do. 319; on Mr. Ben-
in's motion to withdraw certain land bills
19; on Mr. Pomdexlcr's amendment to
iie general appropriation bill 362; tabular
tatement shewing the votes on several
uestions by states

In the house of representatives. On llie
revious queslion on the report on the rc-
loval of the deposiles 104; do. on the re-
ohitions, severally, 104, 105; the yeas and
ays by states thert-on 106; on Mr. Vance's
Ktrenchinenl proposition 107, 193; mi tin:
lotion to su.-pend the rules to consider Mr.
/Vise's resolution 13(5; do. on Mr. Peyton's
evolutions 137; on Mr. Selden's res. cnu-
erning a uniform currency 194; on IheKen-
icky contested election 247, 307; on the
lolion to lay Mr. Wise and Mr. Peyton's
evolutions on llie table 263; on the joint re-
lutions from the senate concerning the
posites 307; York county, Pa. deposit,:
1'innrials 51,68.263; on the deposite bill
23; on the West Point bill 323; on the light
ouse bill 324; on the bill for the relief of
he city of Washington 324; Yorktown mo-

nument 194,205,220; on the vote of thank*
to Mr. Stevenson 337; Young, Mr. 220
Congress, vacancies in 35; prorogation
of 84; anecdoiet> 146; llie Crawford caucu*
of 1824 266

Connecticut elections 101, 117, 132, 150.
189; accident to a church 191; school fund
255; gov. message 3*4; resolutions of the
legislature 324; congr. delegation 34<?; par-
son mobbed 360; Miss Crandall 393
Convent at Charlestown 413, 426, 436,
441, 443

Conner, Mr. speech of 210

Cooper, Mr. * 292, 428

Copper mine 256

Costs of suits 3-0

Cotton decreased consumption of 86;
crops 191; exportation of 259, 352, 397; the
early Irade in, ttc. 352; shipped down llie
Yazoo 444

County museums, &c. 418, 445

Counterfeiters 35, 301

Countermanded orders 86

Cowan, judge, death of 429

Crawford, W. jr. and other* 55, 70
Crawford, Win. H. 266

Credit system, fathers of the 86

Credit, currency and the banks 345

Crockett, col. D. 148, 149,173,252,380
Crops 315, 329, 360, 441

Crying evils 118

Cumberland road 314, 430

Curiosity 85

Cui rency 1 17, 217, 185, 252, 258

Dallas, A. J. against stale banks 133
Dallas, George M.
Darnsinonl, Mrs.

Davis, gov. 426, 433

Death*,!, 384 see names of persons; by
burning 149; by firing of cannon 348; by
cold water 379; from spirit lamp*
Dearborn, gen. H. A. S.
Decapitated coins 443

Delaware the committee to Washing-
ton 50; a whaling ship 191; meeting of
roung men 242; Mr. Bayard 242; honors to
Uifayflte

Deming, Mr. 364

Democratic- republican-- Jackson Wolf
citizens

Denmark emancipation and equality of
colored persons

Dennis, Littleton P. death of 116

Deposites, public 122 see various heads.
Deposite hanks 126, 149, 399, 430, 445
Dew, professor, on usury
Diekerson, Malilnn 201,217

Discharge of hands 5, 84, 86, 97, 130, 172,
331

Discounts on bank notes 4, 17, 18,33, 34,

85,86, 87,113, 132, 133, 149, 190, 191

Di-triet of Columbia banking mailers in

97, 113, 1 17, 132, 330; new paper established

47; election of mayor 242; Washington

ity, 3J8; assessment of 389; cholera 429

Dodse, gen.

Dollars, value of the patriot
Donation by the British government 385
Donelson, A. J. and the prolet
Donelson, Alexander death of
Downce, commodore
Dragoons, U. S.

Draughls, dishonored 5, 18, 86, 347, 362
Dry rot 384

Dunne, W. J. 33, 83, 130, 190, 243, 292,
l4;Dnane, Win. 243,292,407

Dubniiue'!) mines, execution at
Dnlioi.., bishop
Duels

Due bills 5; Dunlop, Mr. 109, 3o

Earthquake

Earth, new theory of the
East Indies discovery of conl in 316
Eaton, major J. H. 101,133

Editorial essays, notices, fc.

Abolition of slavery 301,346: annual pro-

uclions, U. 3. 1, 377: anniversary 3-29; ap-

recialionof money 99: appropriations 297:

nrora ^ 3 - 292

Hank, U. S. currency, credit, Stc. es-

ns and notices concrrninz the 1,4. 33,49,

66. 83, 84. 97,98. 99, 113, 117, 118, 145,

49 171,185, 187,188, 203, 217,843,257,

i8, 292, 303. 345, 346, 347, 362, 394, 411,

30: of the old 97: bank making 84: table*

345

Cage, Mr. 203: censuses 394, 409, 425:
laracter of the American people 43fl: eir-

IXDKX.

culation and cieallona of values, Sec. 1,84,
345,377: committees visiting Washington
1, 49. complimentary toast 114: congres-
sional notices 33, 81, 145, 185, 201, 217, 257 ,
313, 314, 393: county museums 409: cou-
rage ami per.-everance 17: cn.-is 10i>: Cum
bcrJand I D.nl 314

Deleiied articles 33: democrats and lie.
mot-racy 265: depo.-ites and the Di.-lrii t
banks 202: the regulation ol Hit; public -!.>',.
number of ueiiuouuia 173: dtlliculty ol so
lection 1

F.ditor charged with being a foreigner
131: an exccur-ion 329: hi s past and picsenl
views of Hie bank L . S. 18: un elections
34.66, 131, 211,40(5,441: extent of bunk
depredations

299
348
83, 87
147

Fin-wen's zeal 301: French treaty lt>9,
2U1

Globe's attack 131: gold and silver, iin
poruiions, coins, cuire.ncy, new emisMons
Sec. 1 , 300, 330, 3G4, 394, 427

Horrors of Sing Snig 14eS

Jefferson's protest 2u2

Land bill 241: legislative action on the
depojiie question 51: letters long deten
lion ol a 1: certain to the editor 35.84, 117:
from the editor to the Washington Typ.
Society 114: do. the Baltimore Gazuile 18
Meetings of the people 80, 82, 130, 203,
243: members of congress and pet bank
notes 170: Mexican currency 217,258: mo
iiey market, piessure, &c. 1, 4, 17, 33, 34,
49, 61, 84, 6, 67, 97, 122, 13-J, 133, 145, 149.
185, 202, 2J4, 315, 345, 34U, 362, 377, 426
New inventions, steam power and then
effects 315, 393, 426: notices to subscri-
bers 17: ot certain speeches 50, 51, 114, llli:
of the Buffalo Journal 3'.il

Orders countermanded 86

Party and Hie liank questions 97, 98:
payment ol U. 6s. sailors 348,302,414: pen-
t-ion I'uinl 4,217: political battles 243: post
office affaiis 257, 329, 378, 393: press ol
inntter 1, 257: presidential election returns
410: previous i|iic.-tion 97: protection to l.i-
lior o'JO, l:ib. |>,-iividential puuishuienl 3U1:
public feeling 130, 131,242: public officers
51, 14U: ol Him salaries 64, 99, 145

Reference* to the Ucgi.ster 393: reform
148: remarks on Hie conduct of certain di-
rectors 171: revenue prophecies 98, 202,
245: n^li l of in MI in: lion 395, 410: do. ol pe-
iition 81: robbing 190: tumors 145,201.291,

Foot, 8. A. 173, 189, 905, 324

Fi.rge.nes 245,301

Vorsyth, Mr. 65, 86, 129, 146, 161,217,

249,297.314

Foreign capital 187; murderers 191,244;
paupers 2 !4; logues 244; opinions 35, 1""

Fortification*

i'lani.nii. Hi. opinions, &.C. of

Flanking pnvilege

French, affairs.

Agricultural, &c. 3s4; Algiers 3C6, 384;
American indemnities 5, 179, 195, 206; ar-
tny 2i,2ul.3t3;arrels 102, 364, 445; cham-
ber of deputies 351, 415, 431; of Hie liona-
parles 102; C.ialeaubriaud 404; coinage 315;
di.-iurbaiiees 102, 201, 208, 261; Mr. Uu-
long 54; drama 206; duchess d Berri 384;
duels 35; duke of Orleans 5, 415; elections
383,384,404; harvests 351; king, Ihe 208;
Lalayeite, yen. 208; Lyons 208, 2ol, 30-J;
niini*liy 21, 174, 445, reorganization 174;
nation, il guard 102; naval preparations 5;
do. lorce 258; La c?upeibe 21; tin: cuiras-
sier 243; steam frigate 332; illegitimate
children 118; Neapolitan princess 4 15; par-
lies 431; peers 384; prices 209, 351, 3c3;
lelalions with Russia 5, 22; pressure 261;
specie currency 315; silk, exports of 350;
statistics 150, 191, 364; Toulon salule 260
French claims, concerning ihe 5, 179,

Indiani Cherokees 174, 255; death of
Hick:. WJ; ol llle committee'* report 31"

aiilU|iiinea 334; Chickasaw liealy

454

Fridge, Mr.
Floats, ctiects of

195. 201,308,:i51
108
191,255

Sloop canal -ill.: South Carolina I

oath 117, 173, -.259: supplements 169, 233

Tempeiaiiire ol the weather 349: traders'

memorial 99: treaty with Clnckasaws 441

Uncle -Sam's news' satchel 117

Washington, gen. 393: whig celebrations

116, 130 dee tin; various proper heads.

Editorial blunder 300

K,i-t room 298

Education, statistics of 256

Effigy signers to the N. Y. memorial 85

Egypt antiquities, &c. 332; fresh water

iu ' 431

Electioneering bombast 179

Elections lime when held 395

Kllieott, Thomas C6, 04, 108, 347

Ellswnith, Mr. !->:>

Emigration Irom Europe 1,218,244,260,

368, 361, 363, 31)8, 429; letuimng of 1, 331;

to the wetil 398

Evans, Hugh VV. 347; Evani, O. 397, 427

Everetl, Mr. II. 3 i5, 3til

Everett, Mr. Edward 430, 441, 451

Ettiiitf, Mr. ol Ohio 109, 203, 256, 273,

314, 304, 396, 442 see congresi.

Ewmg, Mr. of Indmna 298

Exchanges 17, bl, 83, 80, 87, 190, 191,

908,315

"Experiment" 5, S7, 172, 245, 31

Expons 35-i, 41

Factories, (topping of 5, 64, 85, 86,87,
118, 130, 153, 172; burnt 413

Failures 86,97,149

Falkland JiJundi -

Fed* a new party name 188,248

Fenwii-k, ln-lni|i 4)3

Fires 35, 152, 173, 189,5156,301,315. 3IH
384,404,413

Fwlierli-x 191,192,385

Flowd, Thomas aga

Florida kuyar culture 118; wrecks or
the reel* of 38-

rieui markeu 5, 17, 18, 49, 85, 4i!t>

Gallalin, A. the report of 73; toast to 149
Gales it Seatori

Gambling punished 17-1, 397

Gambling speculators 301

Georgia cholera 174; the state bank

210; me. tings 243; elections 430; murder of

Hicks 303; crops 360; Augusta banks 412;

Mr. Tronp's Inter 417

Giant, the Mexican

% Gibbs, gen. 368

Gibraltar, cholera 444

Gill, II. W. 218

Gilpin, Mr. 1; John, the brig 381

Girard, Stephen 256

"Globe." the "official," extracts from,
&c. 34, 67, 1 13, 132, 133, 146, 205,243,245,
260, 267, 292, 300, 330, 347, 363, 364, 427, 441
Gloucester Telegraph 396

Gold-mines, &.c. 5, 119, 172, 365, 444;
value of coins 252, 300, 354; the laws 337,
338; new coinage 394, 432; effects and re-
maiks 330, 364, 394; counterfeits 427; his-
tory of gold coins 390, 446; gold mines and

coal mines 191

Gordon, Mai tin 217, 291, 347

Gouging, case of 118

Grand jury, presentment by a 148, 155
Grand Gulf u new town 174

Greece coal in 384; reforms 442

Green house, a great 444

Grennell, Mr. 191

Grundy, Mr. 298,314

Gnrney, Mr. 314

Gwynii, Win. 361; Gwin, Samuel 432
Hailstoim 380,383

Hanover 350

II, mlm, Mr. 149; Harper's Ferry 148
li.iitioiit convention Mr. I'earce's re-
larks on 404; replies lo 404,405,414

Hayti condition of 366; letter liom the
>0|ie to president Boyer 369

Insolvents 86,118,133,149

Indiana state bank chartered 86; loan
taken 412; meetings 243; electioneering in
39u; Mr. Tipton b l J9, 443; elections 413,
426, 430, 443; cholera 429

Internal improvements 380, 410, 430, 442
Inventions 301,349

Jackson, gen. former opinions ol 266; the

Richmond Enquirer's views of 267; orders
in honor of gen. Lafayette 325; cabinet ap-
pointments 347; vole against gen. Wash-
ington 406; his illness '12(j; toast 441; his
reception liy the Tennessee convention 450
Jamestown jubilee 307

Jennings, Jonathan death of 430

Jews consecration of a synagogue 292;
debate in the British parliament concern-
ing Ihe

Johnson, R. M. nomination of 1; his re-
ply lo Ihe Philadelphia invitation 416
Johnson, H. 149
Johnson, judge 398; Jones, Talbot
Jones, William Gwynn
Kemble, Miss Fanny marriage of 260
Kennedy, John P. 202
Kentucky R. hi. Johnson 1; gov. Breath-
ill 17; new bank 17, 66; Louisville bank
17; currency at 132; Louisville 300, 316;
dinner lo Mr. Poindexler 415; Lelcher, R.
P. 257,297,299,364,430,441; Mr. Bibb416;
Mr. Clay 417; cholera 102, 379; elections
412,430,441,443

Kissinger, J. C. 149; Kremer, George 1
Lacock, Mr. speech of
Ladies' combs 191

Lal'ayelte, gen. 195, 208; death of and
honors to 291, 297, 325, 329. 333, 301, 368,
379, 380

Lake navigation 118, 191

Lane, Mr. of Indiana 202

Landing of ihe falhers 401

Lauds, tin: public, report on 268; com-
mittee continued 297; E. Row's deposition
326; sales 350

Lawrence, Mr. of N.Y. 97,173,169
Law and law cases commonwealth of
Kentucky vs. Nelson Mayes 210; John H.
Saichet vs. Samuel Swarlwoul 252, 300;
law of Massachusetts against gaming 252;
case of an Indian for horse stealing 255; of
another arrested for debt 256; of a bequest
to living grand children 256; certain stock-
holders U. B. of Maryland vs. Poullney,
Ellicott & Co. 317; U. B. of Tennessee .
Ellicott, Morris and Giil 317; steamboat law
153; graining pensions lo ihe Toulon suf-
ferers 337; regulating silver coins 321; do.

Heath, U. S.
Heath, James P.

55
17,25,100,201

4-20

Heal, comparative statement of
Il,'i,trr, William 124

Hemp culler 393

Hill, Isaac 34,357,298

Hits in congress 298

lloliuook, Josiah 445

Holland arrangement with Belgium 102;
Ghent 102; population 174, 350; expendi-
tures 174, 350; navy 350; army 415; emi
gralion from 351

Howard, Dr. William 444

Hill. hard, Henry 298

lee, exportation of 174, 191

Illinois school fund 118; Mem. <'a<ev
and rilad.! :iii.'.; eleeiioim 430,443

Importation* 86, 301; of specie 412

Imprecations of public men 87

Improvements and steam 345, 393, 426
Impressment, rase of . 174

Imprisonment tor debt .103.381

Inclined plane*, cor for 3-19

gold coins 253, 337, 338; for the relief of in-
solvent debtors 337; settling the lerritorial
dispute between New York and N. Jeisey
353; summary process at Uubuque's mines
352; concerning Ihe duty on lead 354; sus-
pending part of (he tariff law of 1832 354;
concerning copy rights 354; concerning ex-
periments on the -team engine 354; regu-
lating trade with the Indian tribes 373; pro-
viding for ihe organization of Ihe depart-
ment of Indian affairs 375; in addition lo
Ihe acl for the punishment of crimes 376;
liability of clergymen 380; U. S. courts,
costs of suits in the 380; granting bounty
on lost fishing vessels 391; concerning ton-
nage duty on Spanish vessels 391; making
appropriations for harbors, rivers, &c. 391;
lion-citizenship of the blacks in Connecti-
cut 398; Bullock vs. Mnnice, Phelps &, Co.
liability of partners and usury 420

l.eavcnwoiih, gen. 443

Lederer, baron 167

Legare, Solomon, death of 314

Legal tender 369

Leigh, Benjamin W. 17,35,108,146,203
l,i onida ami Washington 316

I., .-lie. James 109

Leslie, C. R. artist 1 18; Levy, lieut. 117
Liberia prospccls of 332, 367; ihe Ma-
ryland colony 333
Liberty cap and motto 394, 448
Lincoln, Levi 1, 17, 185, 197,201
Liveipool trader, the first American '^">fi
Livingston, Mr. 18,208,312
Lloyd, Edward 243
Loc lists 255, 409; exuay on 419
Longevity, cases of ' 384,404
Louisville Advertiser 259

Loultiann riots on the canal* 35, 85;
meetings 88, 87; fire 152; pressure at 86, 87,
149; brutality 152; slave value 174; sugar
refineries 174; gasworks 384; H. Johnson
149; elections 364, 379, 399; bank robberies
245,301; forgeries 245, 301; steamboat law

152

Lowell, John 405

LIISIIS natural 191

Lyceums, on the establishment of 445
Ly tie, Mr. of Ohio 309

Lynch's law 352

Macadam, knighted 191

Macnevcn, Dr. W. J. 81, 90, 1 15, 122, 1-23
Madagascar the French king of 2o6
Madison, James 100, 149, 202, 387, 405
Magnificent donation 384

Marl robber and robberies 149, 255

Mail contractors' extras 101

Maine elections 1 17,4J9; .meetings 24;t;
the ancient widows 256; Madawaska 3tO;
Mr. Sprague 395; Mr. Cliurclull 409

Malihian, Madam 431

Manning, Richard J. 230

Manufactures of books 87; of sugar 1 1H;
cloths 190; buttons 172; straw 191; combs
191; iron 315; salt 412; in S. Carolina 384;
of pnhlic o/iiidon 43-j

Markets the home 5, 17, 18, 49, 84, 85,
150, 190, 315, 349, 425; a new one tor bread
stuffs. 444

March of improvement 315

Marine hospital* 369

Marine corps 3fi9

Marshall, chief justice 3b8

Maryland legislature 51, 147; loan ?7;
elections 116, 24-2; electioneering 430; lac
lories slopped 130; failures of banks, &c.
51, 65, 66, 67, 84, 94, 97, 108, 113. 132, 133,
145, 171,218,245; state colonization sotie
ty 174; Mr. Chambers 409; Mr. Taney at

INDEX.

Haplet revolutionary moreruenm 109
National Intelligencer 121,2(57,292,314
National Gazette- 188,201

Naudain, Mr. 24-2, 265

Navy and naval, American, U. S. 21 , 35.
118,260, 293; hospitals 369; Constellation
35; Lexinglon 414: Brand) wine 102; Con-
stitution, the docking the' 174; the figure
head 189,329.347; Grampus 191; Potomac
218,256; Peacock 218; vessels on foreign
stations 33-2, 365; at Charlestown and in
commission 381; Natchez 36G; marine corps
369: midshipmen 309

ffeirfonndlanH legislative furniture 31-fl
Ne>n H>tmp*hirc salute and mob 130;
the Patriot 204; U. H. senator 29*; the le-
gi-lativc resolution* 335; brinks 350; Sal-
mon Falls factory 413 Mr. Waldron 414
Negro traders kill, d 191

New inventions, effects of 393, 397

New Jersey factories in 5; new hanks
17; meetings of the people 85,243; elec-
tions 132, 190,411; bank failure 245; cop
per mine 256; territorial dispute wiih N.
Y. 333; Newark 360; political excitement
429; capt. Stockton 441

JVem South 11'alcs notices of 3S3, 399
Newspaper publications, perishing ten-
dency of 29s; an old one ' 298
New Yolk city the Tammany, &c 27,
154; Mr. Gallalm 65, 73; elections 34, 100,
115, 131, 132: public officers 34. 51, 259:
meetings 82, 147, 396: Polish exiles 85, 101,
166,256: ami bank mem. 85: bank projec
86: the exchange 147: failures 86: fires 35,
173, 189, 315, 348: Dr. Msu neven 90, 123:
meeting of Irishmen 115, 122: attack on I.
Lewis 118: riots 100, 115,210.332, 346,357.

Til

Frederick

453

Masons and masonic charters, surren-
ders of 118, 189, 336, 447; decrease of cer-
tain lodges 348
Massachusetts elections 1, 17,35; Lowell
riot 5; rail road do. 147; bank charters 86;
button factories 17-2; straw factory 191; law
against gaming 252; imprisonment for debt
303; discharge of hands 331; Harvard uni-
versity 332; Bunker Hill monument 335;
old soldiers 384; office holders' convention
396; dinner at Salem 409, salt manufactures
412; riots at Charlestown 413, 436,440, 441,
442, Mr. Everett 430,441; gov. Davis and
the anti-masons 433; masons of Worcester

447

McClure, lieut. G. W. 442

McDuffie, George 100, 113, 129, M6, 250,

414: conviction of rioters

fur

Parties and party naoiM

Pauper*

Pearce, Duiee J.
Penitentiaries, labor in
Pensioner* undecided on
Pew, Mr. the centenarian
Philadelphia Sentinel

McElroy, rev. John
McElderry, Hugh

29-2, 297, 430
316
1, 183, 184,392

McKim, 1.49,57,82,99,107,114, 173,291

McLean, John, judge

153, 417

McLane, Louis 190, 292. 314, 361, 418
Meteoric stones 119

Mexico conspiracies, &e. 102, 218, 365;
the currency of 217, 258; curse of 365, 430,
442; population 258; revolution 316, 332,

Metalic currency

380
217, 258

Michigan territory Detroit 118; a new

territory 1 18; eov. Porter 349; cholera 429
Militia, U. 8. 381; Miller, Mr. 146

Mines, comparative view of certain 191
Mint, U. S. 354, 394, 427, 432, 448

Mississippi Messrs. Cage and Black 84;

Mr. Owin 432; Planter's bank of Natche/.

86; electioneering 443; meetinss 87, 243;

delegates to the Van Buren convention 397;

the pressure 149; murder 150; murderer

ehot 151; cholera

174, 205

Missouri St. Louis 332; Mormon diffi
cullies 255, 336, 365; Lynch's law 352; gov.
Dtinklin 3f>8; elections 430,443; cholera 379

Mitchi-ltrec, L>r. William 280

Money value of certain produce 49

Money market in England 118, 218, 245
Money and currency, Mr. Reid on 370
Moore, Philip 149; Moore, Thos. P. 291
Moreno, general 399

Mormoriites 255, 336, 365, 368

Morris, John B. 133, 218; Molt, Dr. 25 >
Mule, a breeding 191: murders 151,191
Museums, county 419

Nankeens, American 442

Napier, admiral 404

projected 118: counsellor Samp-on 122:
country notes 255, 299,315: arrest, for hri
bery 147: mayor's, reception 173, 1S9: Chi-
nese crackers 316: ship building 189: rais-
ing brick bouses 315: journeymen bakers
316: city government 190,259: anti-sl,ivei\
meetings 190: Laurens' sireel 302: of Ihe
nrscnal 132, 20;<: ihe uiimpel contest 44-i:
ancient Liverpool trader 256: packet ships
410: emigration 260: the Astor hotel 385:
the custom house 385: the Jews' synagogue
292: horrid deaths 339: cholera 399, 412,
429,444: Dr. Manly's prescription for 431:
the Standard 147, 173: Evening Post 173,
187. 4<!0, 441: Annual Register 200: the
Tillies 259: Mercantile and Advocate 428
A'cic York slate cov. Marry and the
loan 66, 81, 87, 95, 99, 101, 109, 112, 114, 118:
meetings 82, 85: factories 84: the Albany
mem. 84, 126: the Utica do. 244: safety fund
banks 86: new banks 188,299: Gi-nnesse.
district 248: elections 100, 115, 172, 190:
the penitentiaries 102: Chcnango loan 118:
Albany, charter officers 132: the "regency"
201: canal trade 149, 173, 191: the legisla-
ture 187: whig celebrations 190,243: Sara-
toga springs 190: Utica 202: Mr. Beardsley
244: the Argus 114,242,259: public officers
243,442: Jackson majority 244: great rob
bery 255: Evening Journal 25'J: masonic
lodges 348: territorial dispute with N. J.
353: convention on penitentiary labor 428:
cholera 412, 429, 444: grand canal project
ed 442: Buffalo 444

Niger expedition 209

Noah and the ark 122: Noah, M. M. 29-2
North American, the 147

Korth Carolina gold mines 85: meet
ings in 87: emigration from 117: the presi-
dent presented 155: state bank. 149: Mr.
Brown 409: elections 430, 44:!

Ohio Cincinnati, markets 5; rrlebra
lion al 243; cholera 316, 361 . 379, 412, 429
of hanks 18; gen. Cass 429; resolutions
against the hank 51; the pressure. Sic. 84
8fi; elections 430; MiM--rshiirg 256; floo<

173, 185
87
404

102, 428
174
384
131

Pennnilcania loans 1, 4, 17, 18,27,85,
101. 346, 362; meeting*, Ss.e.5, 190, 24:); po-
litics 187; flour at Pitlsl.iirsh 5;oCihe banks
17, 84, 5, 97; Columbia rail road 17; on the
U. S. hank 19,85, 132, 428; sov. Wolf * mes-
- age 26; his sudden change 34; Lanra-ter
86; Pottsville 86; Unkxilnwn 315; Carbon-
lole 87; a ease r>f contempt 109; coal duty
132; do. trade 315, 3-6; Mr. Dunlop 109,
42f; fires 149,301; pensioners at Piiisl.urzh
l.">li; Mr. Lacock'8 speech 153; elections
172. 173; canal rui-iiie--* 173. 055, 256;
Pittsburgh in>nranee co. 413; Hamshiirli
convention 243; r.-liL'ious persecution 260;
rail road accidents 301, 302; ehl vein* 315;
hickory pole 316; eherifl 's t ales 331; torna-
do 348; .Mr. Rapp 349; Valley Forge 381;
cholera 412, 429; anti-masons 429

Priiiisy Iviiiiinn, the 83, 131 , 2GO, 364
Pension agency, Mr. Clayton'- rr|'"'t 10
P n-ions and pensioners, U. S. 150, 174
Petition, Die righl of 84

Petitions a/nin^t despotic power 85

Pet bank notes 170

Peyton, Mr. 129

Phelps, l!ie highwayman 150

PhUaileljiliii: acridenl 5; public meet-
ings 29. 66. S2. '.',9. 116, 130; pressure 5, 85;
delegation to Washington 8, 10; the Wil-
liam Penn 21; length of a petition from W;
Girard hank 50,67, 17-7; election- 66, 172;
prayers against despotic power ^5; punish-
ment for rescue of slaves 118. 174; stealing
118; Maihevv Carey 124, 43:); discount on
notes 133; col. Crockett in 149; correspon-
dence with the president U. S. 150; Polish
exiles 190; Mr. Southard 203; unfinished
buildings in 331; valuation of real estate
f>5; l.i-hop White 100. :369; mobs 413, 435,

348; gen. Vance 348; Mr. Ewing 396; Dr
Drake on the cholera 361; importation o
cattle 384; Cleveland 396; expenditures 01
the harbors of 398

Opinions of public men 266; do. oftlie
olden time

Otis, II. G. his letter concerning Mr
Pearce's accusation

Palmer's Land 118.16

Panic makers 66,24

Patterson, thn ancient widows 25(

Party madness

41; revolutions of the Snnthwark "demo-
rats" 408; post office 442; health 444
Physicians, of 191
Pickpockets 148
Pike, col. Zebulon

Pilgrim fathers 401: Plnmmer. Mr. 203

Poindexter, Mr. 113, 129, 196, 362, 415

Poland exiles in America 85, 101, 166,

90, 196, 256, 348; in Switzerland 167; t>ar-

jarities of Constantine

Polk. Mr. and the Catholic bells

Political movements 201

Political hi-tory 404,414

Polari, the jewel robber 191

Population U. S. tabular statement of

he 424; continuation of do. 425

Portugal Don Miguel V army 5, 102; de-
eats of do. 209, 351; embarkation of do.
"583; Don Pedro's army operations of 21,
02,209,261; his health 431; rejoicings 102;
_,eira21; Camina 174; Brana 209; Viana
and Caminha 209; free ports 209; accession
o the queen 209; excommunication by the
>ope 261; his concessions 415; Miguel and
Don Carlos 351; Miguel's declaration 383;
surrender of the crown jewels 383; am-
nesty 351, 383; his expulsion 3W5; Lisbon
383; Hie cones 431; convents 383, 415, 429,
431; the volunteers 431; the quadripartite
treaty 431; cholera

Porter, judge Alexander 149,178

Porter, gov. G. B. 349; Potter, Mr. 150
Post office department surplus fund 4;
loss of mails 21; extra allowance* 85, 101,
108; Wcirick pardoned 148; postages 154;
judge Story's views of 185; the Nat. Intel-
ligencer's view of 267; the Globe's do. 267;
robberies 255; investigations in the recess
097; Mr. Barry's memorial 313; his address
338; the Phil, post office 442 see congrcw-
Potter, Elisha R. 414

Poultney, Evan 68, 36-2. 393

Pound sterling 86, 331,397

Precious metals, the decreased produc-
tion of 354
Press, specimens of the "organized" 203
Preston, Mr. 113, 120. 12-2, 129, 146, 161
Presidential caucus nominations I
President U. S. interviews of commit-
tees with 1, 8; tefnsal to receive do. ?3;
opinions of foreign journal! concerning lh

Till

35, 299; the protest, fcc. 113, 121, 129, 130,
138, 144, 154, 156, 169; certam secretaries
84; of the dwellingof the 148; presented 155,
the Philadelphia committee 157; renom
r," tin.' bank directors 180; ofh.s bank veto
187- o? the Wahash bill 314; Mr. Taney 326;
hh 'Nashville toast 441; nominations by Uje
35 50, 145, 169, 188, 203, 217; reforms 250;
leaves Washlnsloii 328; on his journey J9a;
reports concern,,,* 329; at Nashville 4l
Presidents, U. S. terms of service, &c.

Presidential election, statement of the
popular votes of the lasl 441, 447

Prices current 5, 17, 18, 49, I iJ

Prince, Enoch

Produce, diminished value of

Proprieties non reception of deputies^

Pnmia-non reception of the Belgian
minister

Productive family

Public mm, sentiments of certain B7

Public money

Public lands, Mr. Clay's report on the
268 see congress, i(c.

Public opinion, a manufactory of

n'liUoads Columbia and Philadelphia
17; Charleston 118, 148,256; Baltimore and
nhio 148. 425; Camden and Amhoy 1J1,
from Home to Nap"^ 256; accidents on
191 301, 302, 315; new projects for 2o
Danville and Pottsville 301; Liverpool and
Manchester 150: London and Birmingham

5 ereat speed on 349: Bright'* improved
car 349: great facilities of transportiUion^on

Happ, Frederick, death of
Rales of discount in England
"Refractory subordinate'
Removal of the ^|.sil^-P^ d . 1 "^
of meetings, reports ol delegations visii

Reshipm'eiits'to England

Retrenchment and reform **=

Revenue, receipt* of the 202, 245: Gen-
nessee district

Revolutionary soldiers

Rhoie War-d-businesi) in 84, 86: the
fortifications 86, 348: masonic charters 118:
ftctories stopped 130, 153: elections 132
188 430,443: Mr. Tillinghast 148: mason-
in 189, 336: legislature 173; perpetuatior
act 188: removal of deposites 188, 19o: M
Robbins 217: the "Mercury" 298: smal
pox 348: collector of Newport 318: 'mpri f
Moment for debt 380: U. a. senator 396, 430

Rich man and the beggar

Risht of inslruelion 14i 6, J9, 5, 411

Rio.s 35, 85, 100, 130, 147, 152, 210, 291
300, 332, 346, 357, 365, 413, 426, 435, 441 , 44<

Ritchie, Thomas 131,146, 154,169.202
204 205,218, 260,266,267,312,347,363

Rives, Mr. resignation of 25: on the righ
of instruction 146: on the French claim*
201- reply to the Philad. "democrats"

JtobberiW 150,245,255,301

Rock, great haul of

Rome letter from the popo 38!

RoThichild, Mr. 102, 257; 38:

Row, Edmund 32j>

Rush, Richard 149, 172, 188

Russia famine in 5: difference with
France 5,22: present to Achmet Pacha 174
of soldiers' children 350: cruelties of th(
grand duke
Bailors, U. 8. 348, 362, 414; amusement

Bait manufactures

Salutes

Sampson, William 81, 12

Sandford, sir Daniel

Baunders,gen.

Scarlet fever

Bchley, Mr. of Georgia

Bedgwick, Mr. 35

Selden, Mr. 146

Senate, U. S. applaudine in, &c. 129; de
nunciations of 146, 259, 260; toasted 149
curious incident in the gallery 205; rejec
tion of Mr. Stevenson 310, confirmation
and rejections 241, 297, 329

INDEX.

Sheen, Uaac in search of a btact^ wJto
Shetland Islands account of

iSwrecU* 9 244,060, 35

Ship Am.-riean burnt J|"

piL-iier, Mr. and Mrs. death of
Silver coins the law regulating the va-
ne of 321; large lump found

Silks culture 348; ancient cost ofo4S; ex-
portation, to England
Skinner, John S. 21; Slade, Mr.
Slave traders 301; slave trade
Slighter, Henry singularities of <S4
Small pox
Snow

Social intercourse, D. Webster's views
of

South Jlmtrica Buenos Ayres concern
nthe currency of 113; toleration in Ve-
rexuela 150. 316; treaty with U. S. 205; re-
solution, &c. 218; earthquake?, 303; revo-
ution in Peru 366; correspondence con-
'erning the independence of 409,41.

South Carolina test oath 117,173,259;
emiaration from 117; elections 260; go-
vernor declines to call the legislature 29i
his proclamation 325; Solom. Legnre 314;
Charleston Library 332; manufactories oj
384; exports

South exploring expedition 16/; souin
pole 168, southern discoveries
Southard, Mr. Samuel 203, 314

Spain-state of 5, 21, 35,102. 261,351,
?82, 404, 415, 431; Don Carlos 21, 102, 261,
351, 431, 445; Donna Maria of PorUmal 174;
crce of retaliation 191; col. O'Donnel
2; secular orders 209; great mortality 256;
Zumalacaraany, een. 382, 404; cholera 383,
429, 431, 444, 4~45; storms 431; Russian am-
bassador recalled 383; Rothschild's loan
383; church property and income 399; re-
culations of trade 401; rrview by the queen
415; South American independence 419
Specie importations of 1, 87, 118, 132,
133, 172, 217, 412, 442, currency
Spindles stopped 130, 153, 172

Spirit laiQ ps

Spraeue, Mr. 308., 429

Stanhope, lady Hester
St. Simonians

Slate banks non- efficiency of 133; de

cision on the unconstutionality of 210

Statistics 118. 119, 150,174,191,253,256,

350, 352, 356, 365, 381,382. 383, 384, 389,

396, 399, 404, 424

Stealing in high life 118

Steam and boats and wagons on lake
Erie 118; rapid trip 119; from Charleston to
Boston 332; passengers 174; the Caroline
316; a large boat 365; disasters, &C.21, 119,
150, 174, 398; steamboat law 153; navigation
of canals 301; boats on the lakes 314; com-
peilion 332; on the western waters 384, lo-
comotion by 314; effect on agriculture, &c
426; boilers to prevent the explosion o
301, 354: carriaees 316; 332, 349, 422, 426
power of steam explained 38f

Steele, John N. 242

Stevenson, Andrew 102, 146, 201, 217
251,297,310,311,337
Stewart, Andrew 101, 32(

Stocks, sales of 50, 113,172; prices in
England 245; arrival of American stocks
from abroad for sale 245; U. S. bank 430
Stone, operation for 255

Storms 5, 35, 431

Story, judge, on the post office dept. 18.'
Straw factory 191

Suicides 85, 301

Sugar, culture in Florida ofllS, refinery
of 17'

Sullivan, Mr.

Survivors of the revolution

Suspension of works 1'

Sutherland, Mr. 298

Sweden ardent spirits consumed in 384

Striker/and- of the constitution 149,261

Austria's ultimatum 26!

Taney, Roger B. 49, 55,83, 145, 204, 297

314,326, 361, 45C

Tappnn, Arthur 361

Tariff, laws concerning the 354; Mr
Bates before the British parliament 388
Pennsylvania resolutions
Taylor, gen. Robert B.
Temperance ship

Tennesiee Union bank 84, 150; choters
02; Mr. Potter 150; cotton crops 191; Alex.
)onel?on 302; a?ainst gambling 397; Mr.
{ell's letter 415; reception of gen. Jackson
50; bonds
Texas condition
Tipton, John

Toasts 114,149,291,409,415

Tobacco, the price of
Tornadoes 360, 316, 349

Toulon disaster 260, 29 -

Trade, the Spanish regulations of
Treasury depart. U. S. certain draughts
18, 149, 362; report on the evenue 293;
ireasury notes

Trotting match a great 244, Jl<

Treaty with France 179, 195; with Chi

205; between the rail road rioters 300, 316;

the quadruple 400; with the Chickasaw

Indians

Tioup, Georee M. 417, 4.JO

Turkey of the Russian indemnity 102;
army 174; revolt 174; conspiracy and exe-
cutions 261; hopes of improvement 365;
trade of 366; the Seraskia
Turner, Mr. J.
United Slates Gazette
Usury, Mr. Dew on 395; case of
Valley Forge

Van Bnren and the Albany branch 97;

the memorial 126; correspondence with the

pope 389; speech on Foot's resolution 43'

Vance, gen. 99, 133, 348

Van Ness, J. P.

Ferment union of parlies in 86; pres-
sure in

Veto bespoke

rirgiiiia deposite meeting.', fce. 55
Wheeling 5, 315, 379; minority address 495
legislature 51,97,173,292; Mr. Leigh 17;
elections 51, 100, 116, 132, 146, 179, 218,
2.V7, 379; parties 190; gold mines 85, 118,
119; on bank failures in 97; bank paper of
113, 133, 149, Monticello 117; gov. installed
118; Valley bank 132; gov. Floyd 149; con-
gressional districts 147, 173, 179; excitement
218; Mr. McDuffie 250; A. Stevenson 251;
tornadoes 260, 316; inter, impro. 314; James-
town jubilee 307; flour at Kanawha 315;
Mr. Swine 364: Mr. Tyler 396: Mr. Ran-
dolph's will 367: state of the ancient colo-
ny of 357: "old dominion," 384: university
379: the springs 444 see Ritchie, Thomas,
Rives, &c.
"Vulgar herds"

Wages, concerning the reduction of 5,
147: prices in England
Wager, Mr.

Wandering piper 350

Washington and the credit system 86: do.
on the tenure of office 204: nomination a*
commander in-chief 253: eulogy on 316:
preservation of his portrait 346: the votr in
the U. S. H. R. on the address to him 406:
the Aurora on his retirement
Water in the salt mountain'
Weather, temperature of the 349

Webster, D. 35, 49, 113, 129, 146, 201,
204, 205, 257, 381, 403
Webster, Charles 364

Weirick, the mail robber 148

West, expedition to the 442

West Indies Cuba 54: Porto Rico 54:
Hayti 54, 389: emancipation 302, 442: cho-
lera 444
West Point academy 390, 397
Whale fishery, account of th* 385
Wheat, price of 5, 17, 18, 49, 84: in Eu-
rope 316
Whigs and lories 101, 331, 434
White, bishop 100, 369; While, Jos. 243
Whitllesey.Mr. E. 17, 396 see congreti.
Whitney, Reuben M. 85
Whitfield, rev. Mr. 185
Williams' Annual Register 260
Wilde, Mr. 84, 100, 398
Wilkins, William 430
Wirt, Wm. 202; Wise, Mr. 100, 129, 335
Wisconsin terrilory 118
Wood, table of the weight, kc. of 256
Wood, Mr. and Mr*, the singers 444
Wool, woollens, &c. 150, 190, 315, 349,
379, 397, 409, 423

Wrecks on the Florida reafs 384

Wricht, Silas 2M

Wright, Frances 380

Youne, McClintock 293

Zollickoffer, Dr. W. 3)7

NILES' WEEKLY REGISTER.

FOUHT SERIES. Ne. 1 Vol.. X.] BALTIMORE, MARCH 1, 1834. [VoL. XLVI. WHOLE No. 1,171.

THE PAST THE PRESENT FOH THE FUTURE.

EDITED, PRINTED AND PUBLISHED BY H. NILES, AT $5 PER ANNUM, PAYABLE IN ADVANCE.

We have, as it were, by force, made room for one of
the many articles of our own manufacture, which have
been latterly prepared, and then postponed, or destroy-
ed being cast out of time, by delay.

If we bad sixty instead of sixteen pages, we could fill
them all with matter proper to be Registered. The
reading of the masses of matter, which we must read to
keep ourselves "posted-up" in a knowledge of what is
going on, is four or five hours hard work, daily.

The rather new practice, as we esteem it, which is now
pursued in both houses of congress on presenting peti-
tions, causes a great overflow of prompt and able speeches,
on that subject wbicli swallows up all others. We notice
some of them as well as we can.

Under the proper head we have mentioned a few things
to shew the "pressure" not as alarmists, but in the way
of record. There is a great excitement in many parts
of the country, and the people are filled with apprehen-
sions. We shall not give the many reports which reach
us relating to these apprehensions; for surely, if they
have any effect, it must be only to hasten events that
are so much dreaded.

Mr. Dunne's fourth letter has appeared. These let-
ters are exciting a great deal of attention. We know not
what to say about giving them a place in the REGISTER,
where they ouglit to be recorded.

We publish, at length, Mr. Rives' 1 speech in the se-
nate on resigning his seat in that body, in consequence of
the receipt of the instructions of the legislature of Virgi-
nia to which also he has assigned his reasons for retir-
ing. It is said that he has been offered, but declines to
accept any place under the administration. This course
of proceeding must be approved. It would "look bad"
if otherwise.

Though we had seen many reports concerning the in-
terviews of the several committees who have visited
Washington, and waited on the president, to obtain a re-
lief of the public distress, through a restoration of the
public deposites, none of them possessed that formal and
decided character which we thought a record in this work
ought to have, and were, therefore, laid aside; but in the
report of the Philadelphia committee, to a multitude of
persons,* convened, in the day-time, at the exchange, on
Saturday last, we have what may well be regarded a do-
cumentary statement, the verity of which cannot be im-
peached; and the part which relates to the interview with
the.presidt.-nt is given at full length for it belongs to the
history of these momentous times.

The "National Intelligencer," which is not oftentimes
forward in such things, "ventures to predict" that the
house of representatives will show a majority against the
removal of the deposites, "when the question shall be
fairly and directly presented." This opinion is also en-
tertained by many of the best judging members of the
house; and some think that the movements of the people,
(and, indeed, the people c<rc inovinp;), may possibly cause
a considerable majority on the main question, even with-
out the happening of certain fearful events which are
every day looked for.

Messrs. Gilpin, Sullivan, Wager and J\fcElderry, no-
minated for re-election as directors of the bank, on the
part of "the government," have been rejected by the se-

*This meeting consisted of more thnn trn thousand, r.iubrac-
ing a very Inrge proportion of the productive labor, wenlth nd
capital of the city nnd probably five-sixths of its business-men.
Vot. XLVI 810. 1.

nate. Mr. J. A. Jiayard was approved as the fifth di-
rector, some time ago.

By the/s/ mail, we received, on Monday last, an or-
der for a new subscription, enclosing five dollars, from
Brooklyn, Ohio, 358 miles from Washington, and about
the same from Baltimore, dated November 28, 1833 in
ninety days passage, and which had evidently encoun-
tered much rough usage on its voyage. We are thankful
for its arrival at the rate of four miles a day. "Slow
and sure." The letter was plainly and correctly address-
ed. The business of the post office is in a horrible state.
We hear of it, and feel it, almost every day.

The last year's permanent loan, in Pennsylvania, was
taken at 13$ per eent. premium. There is not one offer
to take the present year's. The state requires about
$2,500,000 to complete certain works, and for repairs,

KC.

of it in the other, causes these strange things.

Richard M. Johnson has been named for the presiden-
cy, by a caucus of the "Jackson" members of the legis-
lature of Kentucky subject, however, to the decision of
a national convention.

Mr. Lincoln, late governor of Massachusetts, has been
elected a member of the house of representatives of the
United States, by a majority of from 6 to 8 for 1, in the
place of Mr. Davis, present governor of the state. He
arrived at Washington on Thursday last.

The much esteemed Cadieallader D. Cohkn, esq. died
at his seat in Jersey City, opposite New York, on the 7th
tilt, in the 65th year of his age.

The tide of emigration is setting back to England 171
steerage passengers lately arrived at Liverpool from New
York, in one vessel. This is well; we have a great sur-
plus of labor just now and do not wish new importa-
tions to send our own people supperless to bed.

George Kremer has been named, by a meeting held in
Union county, as a proper person to supersede Mr. Wolf
in the gubernatorial chair of Pennsylvania!

{tCJ-In the absence of statistical facts, we can do but little
to obtain correct ideas of practical results, though they
belong to the every-day's business of the people nor do
we esteem the importance of many things, on account of
our familiarity with them.

We propose to make some remarks, (and they must
necessarily be brief, for it is hardly within the power of
the human mind to carry them out), on three great sub-
jects which, not capable of demonstration, may yet be
so presented, perhaps, as to give to the reflecting reader
some notion of their extent, as astronomers point out the
distances of the fixed stars; but when thousands of mil-
lions are spoken of, we wonder at, rather than compre-
hend, the amount.

1. The value of the annual productions of the United
States;

2. The divisibility of matter and principle of aggrega-
tion;

3. The circulation of values.

These subjects are not merely speculative. Each re-
lates to things which reach the heart and home of every

WILES' REGISTER MARCH 1, 1834 CIRCULATION OF VALUES, &c.

man. And we hope in the progress of the present writ
ing, to bring out certain probabilities ami principles whic!
may instruct, as well as amuse, ourselves and others.

1. The value of the annual productions of the people o
the United States.

What is value' Civilized communities have, at d:f
ferent limes, adopted different things by which they mea
sured value generally pieces of gold or silver, or of pa

Eer, stamped or marked in certain ways; and in Mary
uid and Virginia, pounds of tobacco were measures o
value. The student of political economy is continual!;
presented with new difficulties when the terms value am
money are placed in adjusted comparisons for they have
no necessary affinities one to the other, though often ratee
as the same. The affinity is only conventional or comli
tional, or rendered absolute by "existing circumstances.'
At one time and place, a pound of diamonds might 1>
less valuable than a pound of potatoes at another tirm
and place, a pound of diamonds will be more nimbl
than many millions of pounds of potatoes. The qiianti
ties have the same denominations, though the eompara
live values are almost immeasurably changed. Mone}
too, even gold and silver coin, is subject to frequen
changes of value by contractions or expansions of thi
circulation, supply and demand. But we shall leavi
these matters on the simple suggestion of them, and con
sider value as determined by money which is some
thing, any thing, metal or paper, but with a certain ge-
neral relation to pennyweights of gold or ounces of sil-
ver. Money is, in fact, the circulating medium, atid a
five dollar note issued by what is called a specie-paying
bank, is regarded as five dollars.

After much reflection on the subject, and the use 01
some data obtained as to the cost of subsistence, clothing
and shelter, we have, by several calculations, arrived a
the conclusion, that the annually produced values in the
United States are certainly not less than fifteen hundrec
millions of dollars. This is meant to include a supply ol
all the new wants of twelve millions of persons, extend-
ing through every class of society, from the making or
repairs of a fence on a farm to the tear and wear and sup-
ply of a needle all sorts of necessary labor by which
value is created, and the obtainment of all sorts of imple-
ments and tools, animals or buildings, useful in such cre-
ations houses or ships, wagons or wheelbarrows the
making or repairs of roads, canals and bridges, with the
cost of education and in short, all the requirements ol
civilized life. The sum above slated seems a large one;
but when we reflect that it allows only 125 dollars for
each individual, the great amount is narrowed down, and
the mind can grapple the probability of the fact as sug-
gested. The average annual cost of paupers in our pool
houses, without any allowance for the buildings in which
they live, would be nearly one half of the 1'25 dollars
above stated if the value of the products of their labor
was added to the money actually disbursed on account ol
them. The common laborer who has a family of three
other persons, and receives only one dollar a day, or 300
dollars per annum, would not appear to live at the rate
of 125 per head but his wife also produces value in the
preparation of his food or the making and washing of his
clothes; and these being necessary to his subsistence and
shelter, or comfort, should be admitted into such aggre-
gates of values in the full sum that it would have cost, in
money, to have had such services performed by another
person. The correctness of these principles being ad-
mitted, and we do not see how it ran be objected to, we
think it w ill appear manifest, that the money value of all
the annual products of the United States, (whether natu-
ral, such as the yearly growth of trees in the forest, or
by labor expended such as in rendering forest trees useful
as fire-wood) cautwt\n- less than 1,. MX), 000,000 dollars.
Such are the annual creations of value which seeming-
ly must be made, for the preservation and :>commo<la-
tion of society. A part of the sum suggested may go in.
to accumulating rallies. Thus if 1UO.OOO dollar* w orth
of new houses are rrei-ted in a year, in m ritv or town,
or H mill worth lh:it sun, is built and fitted, the whole of
this amount, less the tear and wear and natural decay,
with cost of alterations or repairs, is passed into the ac-
cumulating \alue; but if such houses or mill he totally
destroyed by fire, or otherwise, t|, t . ;,,.(] money cost i"s
wn the attmml production of vuhuti.

These things seem rery clear to our mind. There doe
not appear any sort of mystery about them. But to un-
derstand them, the reader must think a little for himself.
2. The divisibility of matter and principle of aggrega-
tion. Here is, indeed, a wide field for observation, and
we should not affect an ability to comprehend the ideas
that belong to it, unless in a familiarity with manifest
facts which bear upon divisibility and aggregation. By
these facts we are enabled, as it were, to measure immea-
surable things. Thus we know that the mighty Missis-
sippi, which discharges her thirty-fathom-deep flood into
the sea, is made up of particles of moisture, or water, so
minute as to be incomprehensible. So is the vast ocean
itself formed of inconceivably small atoms of matter.
And if we regard animal life, the whale's vast bulk is
believed to be made up in the consumption of other ani-
mals so minute, that, possibly, his daily supply of food
in, iy require a million of millions of them. And with
regard to ourselves in a spoon full of vinegar, used on
our cabbage at dinner, perhaps we take in half a mil-
lion of little snake-like things, whose bitings and scratch-
ings when they reach our palates produce that sensation,
or taste, for which vinegar is desired; and if we eat
single fig after dinner, what is the number of crab-like
and pugnacious animals that pass into our stomachs ? It
is so also in the works of man. Instance the divisibility of
gold. So in the works of insects witness the fineness of
a spider's web. It is not worth while to dwell on these
subjects for the divisibility of matter and force of ag-
gregation are manifest to our senses, though we cannot
count up the power of either in its minuteness, on the
one hand, or magnitude on the other.

The preceding remarks on the two first propositions
offered appear necessary to a consideration of the third,
which is

The circulation of values; more difficult, perhaps, to re-
duce into an intelligible statement than either of the others,
however important are its operations on the condition
of society. But, that the reader may more easily under-
stand what is intended to be said on this subject, we shall
premise, that the "circulation of values,' 1 though not in
all cases synonymous, is here intended to mean nearly
the same thing as exchanges of values, and the effect of
the currency on them and on all persons w ho buy or
sell,x>r make exchanges of values, whether in labor or
in the products of labor. And, with craving the attention
of the reader, we shall, at once, proceed to the conside-
ration of certain subjects that we have never seen referred
to in a methodical manner, which, however, are so nu-
merous in their mutations that the mind must be exerted
to perceive what the pen cannot describe.

The annual productions of the United States may be
called the starting point of the exchanges, or circulations
of value. It is no matter in what shape they appear.
Ever}' grain of corn that enters into the subsistence of a
negro employed in the growth of cotton, passes into the
circulation of values until the cotton becomes cloth; and
then, reduced into rags, is made into paper, and such
paper into books, &c. We have shewn w hat is the divisi-
bility of matter; we have spoken of aggregation; but to
l>egin at the beginning and end at the ending of the cir-
culation of values, would be something like an atttempt
to calculate the boundaries of space, except in believing
that space, (in the human understanding), cannot have
any boundary. To makejhe compass, for an example,
with which the land was surveyed on which the grain of
corn above alluded to grew, involved many thousands of
xi-hanges of values, and yet some part of the value of
hat compass passed into that grain of corn. The survey
jave value to the land, and many other values were add-
ed before the grain of corn was produced | but that grain
-mrtook of them all, and, passing into the subsistence of
he laborer, entered into the value of the cotton, and
hat indescribably small portion of cotton ma}- have ex-
stence, after all its mutations, in the value of a volume
of the HKGISTEH. The value of the -cear of the knife
with which an animal is flayed, enters into the value of a
inir of boots; and all values are continually exchanging.
There are many other classes of circulations of values.
Thus, after a house worth $1,000 is built, or a value of
11,000 so created, every sale of that house puts 2,000 dol-
HI-R into the r.n-luinges for the operation between the
nver and seller is a double one. W* once traced the

NILES' REGISTER MARCH 1, 1834 CIRCULATION OF VALUES, &. 3

history of a check on a bank for $300, which, having
changed hands 11 times on the day of its issue arid before
it reached the bank, of course caused the payment of
3,300 dollars and the. receipt of the same sum, or 6,600
in all. So it is with bank notes, or private bills. Every
change that is made in the possession of them, is a "circu-
lation of value, "and at every turn must needs yield some
portion of profit to the community, if the note is finally
paid, and then its value as a circulating medium makes a
pause, or altogether ceases, as the case may be.

From these broad and general views we shall retire
into a consideration of operations that may be more easily
understood, being direct and palpable, hi every move.

In the following pro furii'a statement, exact amounts
are not even aimed at the whole purpose being to note
the various chief circulations of values.

Let us suppose

1. There is'ona certain plantation in the interior
of South Carolina, a quantity of cotton in the
seed, (that will yield 1,000 Ibs. of clean cotton,)
which is worth, as it came from the field, $ 80

2. For costs of transportation to the gin, ginning
and packing, transportation to the factor at
Charleston, his commissions, charges for store

rent, &c. 20

3. The factor sells the 1,000 Ibs. of cotton to the
agent of a mill at Lowell, for 100 dollars the
agent's commission on the purchase, and cost
of transportation by land and water to Lowell,

&c. is 10

4. This 110 dollars worth of cotton at Lowell is
there woven, spun, and printed, and produces
5,000 yards of calico, worth 10 cents per yard,

or 500

5. The goods are sent from Lowell to the agent
in Boston, and, with various costs and commis-
sions paid to him, have a value of 515

6. They are sold to a house in Baltimore, and,

with charges for transportation, &c. cost that S 1 25
house

7. To pay house rent, clerk hire, and subsist
himself, the Baltimore merchant must have
not less than 5 per cent, profit on his sale of

this lot of goods to a country merchant, or say 550

8. To indemnify the country merchant for his
expenses variously incurred, charges for trans-
portation, risk and profits, lie must gain 20 per

cent, on the $550, and his sales amount to 660

Forward circulation $2,885

But with the consumer it ma}' be said that a back cir-
culation commences, and all the exchanges of values are
reversed; so that a quantity of cotton which, as it came
from the field, was worth only 80 dollars, may, and no
doubt oftentimes does, set into motion a circulating me-
dium of 5,770 dollars.* It is on the celerity or slowness of
this circulation that the "pi en ti fulness" or "scarcity" of
money much depends. If a miser hoards 1,000 silver dol-
lars, they are no more useful than their weight in brick-
hats. But if he takes them out of his chest, and builds
a house with them, an active value is spread among the
working people, and it goes on to accumulate values,
perhaps, in the shape of new houses or in some other
uxchangable commodity, no matter what.

And in the preceding pro forma statement may be
seen the effects of the "American System." If the: par-
ticular lot of cotton, worth 100 dollars at Charleston, was
exported, in an English ship, and manufactured in Eng-
land, the circulation of values in the 4lh and 5th ileius,
(making more than one-third of the whole amount),
could not happen in the United Stales. This is mani-
fest, and we shall not dwell upon it.

*The reader will please to recollect that the consumption of
cotton in the United Stales may be placed at about 101). 000,000
Ibs. or so it would have been in the present year had the cur-
rency not been disturbed. Add up the domestic "CIRCULA-
TIONS or VAI.DB," then, which are dependent on the home
manufacture of this huge amount of cotton, regarding only the
regular imitations which are above described! If 1,000 Ibs.
S\vt: so much, what will 100 millions of pounds c' v<> - ? Work it
by the rule of three! The principle will extend to the aggre-
gate produced. We appeal to all business men to every man
who understands the first rules of arithmetic.

But to return to the preceding statement. If money it
"plenty," the planter, on depositing his cotton, draws on
the factor, the factor has the note of the agent discount-
ed, and the agent realizes his draught on the house at
Lowell, and so it goes on through the whole of the pri-
mary, or secondary, exchanges, in a week's time for each
series, and the money derived from each commences
new operations, and proceeds without any definite end,
branching out into tens of thousands of divisibilities, and]
filtering into the business of tens of thousands of per-
sons. But how must it be when the factor cannot pay
the draught of the planter until the money-worth of the
cotton is realized from the consumer the operation will
require from twelve to eighteen months, and the "scarci-
ty" of money be felt by all the parties, as well as by all
w'ho are dependent on them respectively.* The general
business of the United States is performed on a credit
system, except that vital and important part which per-
tains to first labor, and the money need in the payment of
daily or weekly wages, vivifies the whole; and thus it
works: the planter draws on his factor, and the latter
pays the draught, because the note given lo him by the
agent has been discounted, or the money is paid, for the
reason that the agent has made a draught on the princi-
pal at Lowell, for which the bank has given him mt-.ey,
and so on through all the changes: but if the bank de-
clines the exchange of its notes, or money, for the notes
of individuals offered, all the operations must await their
own time, or a great reduction of prices and profits ensue,
in every department of this circulation of values. Certain
Cobbetians talk about the establishment of a specie cur-
rency that would reduce the circulation of values, and
reduce wages, perhaps, two-thirds of their present gene-
ral amount, and what would be gained by ibis? Price,
we admit, is only a comparative term but a five dollar
note of the bank of the United States is worth rather
more than five silver dollars, on account of the conveni-
ence of its transportation, and why should all the habits
of society be unhinged by the extinguishment of such a
currency, and labor be reduced from 100 to 33 cents pel-
day? There is a great objection to a paper currency
when it does not truly represent money, by being redu-
cible into solid cash; but while it may be, it is the agent
of uncounted blessings, and especially to the laboring
poor. The only thing 10 be desired is to keep it in due
bounds, by sale checks and wholesome balances; such as
we had between the national and state banks, a little
while ago.

If we have measurably succeeded in making ourselves
understood, the reflecting reader, like ourselves, will be
afraid to mention a sum as the probable amount of the
circulation of values, for the magnitude of the subject
seems to place it without the limits of our comprehen-
sion, though, as it is with reference to space, ice can com-
p/rehend that it is incomprehensibly and that is a great
point gained: for in even thus comprehending, we must
believe in the incomprehensible. So all believe except
the wretched fools who suppose that all things happened
"by chance" without reflecting, that there mu>t have
been a pre-existing cause to give the power ot action evc-n
to "chance." These things are humbly suggested and
for the simple and sole purpose of repeating, that a great
point is gained, when, with the evidence of indisputable
tacts before us, we are able to comprehend that some
things are not comprehensible, that ive may believe.

And now to the application of the preceding remarks.
The mighty aggregations of values, with the swiftness of
the circulations, essentially depend on \\iesoitntlnessand
uniformity of the currency which is, let us say 125 mil-
lions in bank notes, which bank notes have vahii/ on 25
millions in specie, and which specie remains, or is made
useful, on confidence. "Caution is the parent of secu-
rity" and very wise, and very cool-thinking men, only,
should raeddle'with the currency of a country ! The nps
and downs of hurrah party-politic* should no more be
permitted to approach it, than the Caliban, of Shak-
speaiv, (in the play of the "Tempest"), have had an in-
troduction into the nuptial bed of the chaste Miranda, to
bei^in a new begetting of horrid monstc'rs there. The
mattiT that belongs to the application is designed to be
the subject of another essay. In the mean time we clV< r

Tnlew the money is obtained by shavings, or lest

NILES' REGISTER MARCH l. 1834 THE PRESSURE.

the following extract from the speech of Henry Brough-
am, now belittled by the title of lord Brougham, in
opening a speech in August last on the bill for a rechar-
ter of the bank of England:

He "begged to state that he would be the last man to
express an approval of any measure, if he thought that
its results would be to lead, by however long a process,
to a depreciation of the currency of the kingdom. It
was absolutely and imperatively necessary for the safety
of all interests in this country, mercantile or otherwise
for the stability of trade and agriculture that there
should be no further tampering with the currency, ( hear,
hear), and that no attempt or proceeding should be sanc-
tioned by parliament, or the executive government,
which could by any remote possibility, cause any change
in the value of 'the circulating medium."

It was not easy to decide whether precedence should
be given to ihe insertion of the report of the judiciary
committee of the senate, or to the dissent of the minority
to the report of the committee of ways and means of the
house of representathes concerning the pension fund.
We have, however, given a place to the former, for one
reason, perhaps, that it was the -unanimous act of the
conr.iittee,* and so stands more fully in opposition to
the report made to the other house. And, as the same
general argument prevails in both papers, it does not
seem necessary to present more than one of them, at a
time when room is so much needed by us. The reader,
to form the more correct conclusions on this subject,
should have before him the report of the committee of
ways and means, inserted in the last REGISTER. Pet--
haps, a better understanding might be obtained if the ar-
gument of the attorney general was also given but we
cannot ;jet space for it. The ground taken by him, how-
ever, sufficiently appears in the reports alluded to. It
seems clearly admitted that pensions must be paid at the
bank of the United States, and its offices, or under charge
of the bank, in certain other cases prescribed by law; but
the right in the secretary of war to remove the deposite
of what the bank considers pension money, is in the sup-
position that certain laws are not pension laws, though so
officially called over and over again, as shewn in the re-
port made to the senate; and it is further said, that the
taw gives to the secretary of tear no power over the pub-
lic deposites though the secretary of tho treasury may
exert such power on certain occasions, &c. two instance's
being given in which the war secretary retraced his steps
in this very matter, on the remonstrance of the bank.
And it is manifest that the present order must be with-
drawn, or that the pensioners will not he paid, unless
congress shall pass an act to relieve the bank of its re-
sponsibilities in this case, when the hank will gladly re
Jinquish the agency, for it is a very burthensome one, as
is shewn in the letter of the president of one the new de-
posite banks, at N. York, published in the last RKGISTKB.

Some years ago, a person permitted (for his own pur-
poses), a small sum of money to accumulate and remain
in our hands. He suddenly became a bankrupt, and pe-
titioned for relief under the insolvent laws of the state.
Whereupon five processes were served upon us about
the money due each individually claiming it. The
debt was freely acknowledged to all the parties and yet
we were damned in atlendances nt court, time after
time, as a witness. Thus worried, it was respectfully
asked, and leave obtained of the court, to say, that s->
many dollars and cents stood on our hooks to the credit
of the bankrupt, which would be paid into court in five
minutes, or placed in the hands of either of the parties,
as the court should be pleased to decide. The court
then released us from further attendance; and when the
claim was established by the proper authoritv, it was in-
stantly satisfied. So stands the bank the'extra clerk
hire and labor expended in paying the pensions far ex-
oeeds the profits derivable from the use of the pension
money but the law, as the bank believes, has required
this duty of them, as one of the onermu conditions of it>
charter, und simply asks that the lav> will relieve them
of all responsibility on the subject, as is proposed in the
bill reported by Mr. Polk, from the committee of wavs
and means. If it is right that the secretary of war should

*Me*ira. Clayton, Bibb, Pretton, Smith and Bell.

have the disposition or charge of the money, let Mr.
folk's bill pass, and all the difficulty is over. If it is
not right that such disposition or charge should be made
what remedy would remain to the bank, if the court
decided, that it had -wrongfully parted -with money, ex-
pressly appropriated, and placed in its possession, for the
payment of certain meritorious individuals, for services
rendered? In such a case, every one of these might sus-
tain an action against the bank, if, (from any cause), not
paid the money respectively due them.

We must confess our surprise, after what has happen-
ed, that the secretary of war should have again attempt-
ed such a proceeding. We rather expected that he would
have followed the course pursued by Mr. Duane; and,
as it is morally certain that the bill reported by Mr.
Polk will not be passed into a law perhaps not pass
either house of congress, it is certain that the bank will
hold on to the money, as it ought, until lawfully relieved
of the responsibility of a just distribution of it, by the
expiration of the period of its charter, March, 1836.
Future deposites for the payment of pensions, may not
be made in it the new deposite banks may be arranged
for that duly, in the power assumed; but as this money
went into the bank according to law, there is no power to
lake it out unless in concord with the law; as the fact of
the bill reported by Mr. Polk conclusively shews. Why
such a hnv, if laivful pywer already existed to remove the
pension money? And all that can be done in this new
war against the bank, is to suffer the money, at present
deposited, to be paid, by it, to those to whom it belongs,
and refuse to send other moneys to the bank, on ac-
count of pensions. Thus "the government" may take the
"responsibility," and relieve the hank of it, hereafter
without the enactment of a new law, though existing laws
declare that pensions shall be paid by the bank of the
United States; presuming, however that the pension mo-
ney must first be deposited therein.

A great effort is making in Pennsylvania, by petitioning
the legislature, pr.i)ing for its action that the public de-
posites may be restored to the bank of the United States.
Saturday last, being the time fixed for opening proposals
for a permanent loan of $729,354, at Harrisburgh, it was
trmnd that not a single offer had been made. Under pre-
sent prospects, the public works of Pennsylvania must be
discontinued, and great public loss, as well as much pri-
vate distress thereby ensue.

We have been promised a currency, and by high au-
thority too, better than that which the'baiik of the United
States furnished.

On Tuesday last we paid 5 per cent, discount on a note
of one of tlie banks at Hartford, Con. and 3 per cent, dis-
count on one of those issued by a bank at Pittsburgh, Pa.
in exchange for Baltimore bank notes. We do not know
the present shaving tariff* at Hartford and Pittsburgh, but
venture nothing in saying that the notes of the banks al-
luded to, at home, are, together, 3 or 4 per cent, more
valuable than any Baltimore bank notes there. And on the
same day, a gentleman of Kentucky, paving us a small
bill, was careful to select Baltimore paper, which he had
bought at 3 per cent, discount. The "safely fund"
hank notes are at 2 per cent, discount in the city* of New
York, and, for one or two days, were at 5! Some ar-
rangements are said to have been made for the relief
of these hanks, by which the discount receded as stated
above. The shaving of bank notes is now a mighty bu-
siness, and employs hundreds of thousands of dollars.
Exchange on England remains below "par." That is,
say 9 per cent, below the real par.

The committee on post offices and post roads of the
house of representatives, have made a report that it is
inexpedient to restore to the post office department the
sum of 1,103,927 dollars, which, at different periods,
since the establishment of that department, have been
paid into the treasury of the United States. But no part
of this sum has been paid into the treasury for several
years last past.

THE PHKSSCRE, fcc.

Groat meetings of tlic people are holding in many of the Mates
al which memorials to ongre ait adopted, praying ri-lwf from

NILES' REGISTER MARCH 1, 1834-CONGUESS.

the pressure on tilt- money market, liy a resloralion of the |>nb-
lic deposits to the bank ol the United Status. The citizen* of
Virginia are all alive on this subject, bill rather more, perlni|is,
on what they regard a violent t-eizure of the public piir.e, tlmn
on account of the deranged state ol the currency that has ful
lowed it. A lew meetings ol' a different character have been
"gotten" up in Pennsylvania, and by person* who, before the
veto of the bank bill, would have pronounced it treason again*!
the '-democracy" of Pennsylvania to suppose that the events
which have happened could take place.

We have fresh accounts of the proceeding* of, perhaps, one
hundred meetings lor a restoration of the deposiies, in the cur-
rent week. At some of those held ia Virginia, lately, very strong
language wan used.

We noticed in our last the pro?pect of things at Lowel. Since
then a large number of girls have "turned out" to prevent a re-
duction of wages, and they committed gome things which fe-
males ought not have done, such as processions through Hie
streets, "marching ankle-deep in the mud" and "waving their
handkerchiefs and scarfs," &.c. and one or two ol them deliver
ed public speeches. They also made an attempt to break Hie
banks, by demands for specie, in large numbers but it ended
only in their own shame. The chiefs have been dismissed, and
new supplies from the country rushed in to take their places;
but they generally submitted to the reduction proposed, nnd
which had been proposed in kindness to them; for, if not sub
milled to, the mills, in the present slate of business, would have
bten, of sheer necessity, closed.

The melancholy ti'uth is that a large reduction of wages
must be submitted to by the working people, generally, or dis-
missions from employment ensue. The reduced money-value
of all sorts of products, and the difficulty of obtaining money,
ure such, that one or the other n.ust take place. High wages
cannot much longer be paid in any branch of business, unless
there is a change in the state of the money market. In many
branches, mechanic* would now gladly obtain even 50 cents
per day ''finding themselves."

Many of the eastern faciories have stopped and 1,100 per-
sons were discharged from 4 of them only. It is said that most
of the iron furnaces in New Jersey are, or soon will be, out of
blast. In Philadelphia official permits must be obtained to oc-
cupy a part of the street for builiiing purposes at this time last
year, such permits issued were more than six hundred, and at a
corresponding date in the present year amounted only to eight.
Here is a matter about which there cannot be a mistake. The
same operation is going on every where. Many additional
failures have happened in the chief cities. The general rat-: of
money is 21 per cent, a month, and a vast business is doing at
that pi ice.

Let the working people look at the following

The Leeds Intelligencer states that the cotton loom weavers
at Oldham have full work, but their wages are most misernble,
as the best workmen cannot get more, on an average, than iw.
6<f. per week that is, at the real par 132 cents. [Will they
agree to be reduced to this English pauper state?]

The b.\nk of New Brunswick, New Jersey, has suspended
payment. The branch ofthe Susi|uehaniKih bank, at Baltimore,
ha ben withdrawn but it i.< published that its notes issued
will be paid as usual, and all he. retired. A draft of the 4lh
auditor has been dishonored at Cincinnati, by the new depositu
bank. The contractors for carrying tile mails are very clamoi-
ou for the money which they have earned. The working peo-
ple, at several places, are protesting against the "due hills" is-
sued by their employer*, as they ought, if the latter could satisfy
them in money. The alternative \*, to receive "due bills"
or he discharged, anil the choice is a sad onti.

Wheal, at New York 90 cents. Flour, at Pittsburgh 2 87J
bbl. at Wheeling -2 50 at Cincinnati 3 a 3 12. Whiskey at
same place, 20 a 24 pent*, gal. Nothing doing in bacon, pork or
Inrd, as the prices offered will not pay the cost of the packer.
Cincinnati is the greatest pork market in the United States.

FOREIGN NEWS.

From London papers to the 1th and Paris to the 8th January, both

inclusive.

SREAT BRITAIN.

Bart Fitzwilliam was determined to persevere with his mo
tlon to repeal the corn law*. The misunderstanding existing
between the governments of England and Russia, through the
Intervention of prince E?terhazy,the Austrian ambassador, was
in a fair way to he adjusted. Considerable importations of wheat
had been made into England from Van Deiman's land; to which
latter place 6,000 convict* had been transported during the last
year. A dieadfnl storm had swept over England nnd the north
of Europe, causing great destruclion both on land and at sea
many live* wore lost and several houses burnt by lightning
There had been a decrease in the revenue for the quarter made
up to the 5th of January of 91.547, as compared with the same
quarter last year. The Columbine, one of tin* vessel* of Lan
der's expedition up the Niger, had arrived in England. Mr
Lander and lient. Allan, had proceeded in the Alburka steame
up that river, and were sanguine of ultimately establishing i
successful system of commercial intercourse between England
and Africa.

FRANCE.

Thq papers contain various speculations touching an nntici
pated rupture between England and France, on the one side
and Russia on the other< but these are ot boras out by the

riemlly tenor of the congratulatory address of the ambassador
if tile laller power In ihe king orrranrr, on new year'* day.
;oiiider.ihle uavul prrpaiiitii.ns \\rr- tit-ing niiulr, which we
ire-iime gave birth to the rumors in i|u-m,n. 'J'he chambers
would, it U thought* VOU tin- necc.sai;, appropriation* to pay
be instalment due to the U. Sum's, and thus nctilc that difiei-
ce. The departure of the duk o[ Orleans, for Amc-nca was

lake piuce the present month.

SPAIN.

The affairs of the queen were rather more promising; but still
vithoiil material change. The contest between the contending
larties I, ud assumed the character of a guerilla wai fare. Mo-
ilto's troops had again entered Portugal und eaptun d 40 Car-
isis; and the insurgents of Navarre, after a severe conflict, had
ecu beaten by general Lorenzo.

STILL LATER.

From London papers to tlic 1B/A Jan. inclusive.
It was calculated in England that the present situation of this
country would seriously interfere with the manufacturing in-
lustry of that country, as ull the advices from here admonished
he manufacturing and shipping houses not to send out goods us
here was no money lo pay foi them, and the manufacturer*
were, in many instances, acting upon them.
The afi'uirs of Spain have ast.umed a new and moie important
nn. A captain general, Llander, who appears to act in con-
cert with the municipality of Barcelona, and to have, among
other distinguished adherents, generals Qiiesado and Morillo,
>ad sent an embassy to the queen intimating lo her as the nishe*
of the province, 1st, thai Ihe Spaniards receive a representative
ivernmeot, with the liberlies connected with it 3d, the sup-
iression of abbeys and monks 3d, the liberty of the press 4th,
he reform of Ihe clergy 5ih, ihe distribution of ils property
among Ihe people, and 6th, that the tithes and other imposts,
njurious to farmers, be suppressed. Liander has 45,000 men
at his command; his address to the queen was hacked by 50,000
signatures, and Ihe people of Catalonia had risen en mnsic in
suppoil of his demand. The queen is said to have returned
.. lander's address, without giving any satisfaction as to the
course she would pursue. The queen, Imwtver, \ icldiim to the
iressure of circumstance.", it is said, has changed lu-r ministers,
ind consented lo the tonvt ration of the com s. The president

01 the new cabinet is said lo be the marquis de las Armarilla.
Mitnj liisiiiiuiiislied conslitutionalisu have returned to Spain.

Advices from Lisbon stale thai Don Miguel's army had suf-
fered greatly from sickness, and was reduced to 6,000; his for-
tifications were strong and would require- much greater force
than Don Pedro's to dislodge him.

The rush-in pails of Russia are suffering dreadfully from the
effects of famine.

There is a report that earl Grey was about to resign.

TWENTY-THIRD CONGRESS FIRST SESSION.

SENATE.

February 21. Mr. Southard presented three petitions from
New Jersey, praying fora restoration of the deposites, one of
them signed by 2,7&o voters of Burlington county. He spoke
highly of i lie character of the memorialists, and, out of these pe-
titions and others, attempted to shew thai the legislature of the
stale did not express the voice of the people on this matter.
And these petitions, he aUo said, were signed by many friends
of the administration.

Mr. Wilkins presented resolutions adopted by two of the lo-
cal bank j at Pittsburgh, staling the general distress and praying
for relief. He also presented a set of resolutions passed at a
large meeting of the people, with the same character and bear-
ing; and be spoke highly of the respectability of the actors in
these proceedings.

Mr. Sprague presented a memorial of 606 citizens of Portland,
Me. in relation lo the distresses of the country, and praying for
relief, lie spoke of the respectability and business of the sign-
ers, and among other things stated that ihe branch bank in that
cily had actually sustained the local banks. He spoke at con-
siderable length', and was followed by Mr. Shepley, who read an
anonymout communication from the "National Intelligencer,"
to shew the intention of the bank. A long and very lively de-
bate ensued; in which Messrs. Sprague Fortyth and Chamber*
took part. The lattor explained the late "run" on the branch
at Savannah, nnd placed that affair in n very ridiculous, but
censurable, light. [We must recur to this debate, if we can,
for parts of it are uncommonly interesting.] Mr. Jfebiter rose
to deliver his sentiments, but on the suggestion that impoitnnt
executive business required atlention, gavo way, and the senate
went into secret session, and so remained until the hour of ad-
journment.

February 22. [For the first time this session, the senate sat
on Saturday.]

Mr. Toiler said he rose to present the resolution* recently
adopted 'by the two houses of assembly of the state of Virginia,
expressive of their opinions and views relative to the conduct
of the executive with regard to the bank of the United Slatee
and the deposited of the public revenue. He proposed to ab-
stain, at this time, from making any remarks on tho subjects
embraced in the resolutions, other than to say, that, concurring
as he did most fully in Ihe views expressed by ihe legislature of
his state, ho should use all the means in his power to carry them
into effect. He should nt another time, more convenient to the
senate, make such remarks as the importance of the subject re-
quired. He should, lor the present, merely move for the prut-

NILES' REGISTER MARCH i, 1834 CONGRESS.

ing of the resolutions, and their reference to the coinniittee on

finance.

The resolutions having been read

Mr. Rivet rose and said:

Mr. President: The senate, will indulge me, I hope, standing
in the position 1 do, with a low remarks on the subject of the
resolutions just read. It is very fur from my intention to at-
tempt to impugn, in any manner, the force of those resolutions,
or to derogate, in the slightest degree, from the high respect to
which tin y are entitled Mere ami claewuerB. On the contrary,
I recognise them as the legitimate expression of the opinion of
my Plate, conveyed through the only authentic organ known to
her constitution and laws.

The senate will have perceived, from tire reading of the reso-
lutions, that it is my misfortune to entertain, and to have ex-
pres:-cd, on the grave questions now occupying the public mind,
opinions very different from those asserted liy the resolutions.
Notwithstanding this difference of opinion, I should IVel it my
duty, as one of the representatives of Virginia on this floor, to
cori'lorm to the views exposed by her legislature, if, in the cir-
cumstances in which I am placed, I could do so without dis-
honor. I hold it, sir, to be a vital principle of our political sys-
tem, one indispensable to the preservation of our institutions,
that the representative, whether a member of tins or the other
house, is bound to conform to the opinions and u i-h-s of his
constituent* authentically expressed; or if he be unable to do
BO, from over ruling and imperious considerations operating
Upon his conscience or honor, to surrender his trust into the
hands of those from whom he derived it, that they may select
an agent who can better carry therr views into eflVct.

On all occasions involving questions of expediency only, it is.
I conceive, the bounden duty of the representative to conform
implicitly to the instructions of the constituent body, where tho.-e
instructions are to be carried into execution by a legislative act,
which, as a mandate of the public will, prescribes and directs
what shall be dune for the public good. But where the instruc-
tions contemplate a declaration of ptiticiples or opinions, which
are contrary to the sincere and honest convictions of the repre-
sentative, as there is no means of forcing the assent of the un-
derstanding to abstract propositions, the only course left to him
is by the surrender of his commission, to put it in the power of
bis constituents to confer it on another whose opinions corres-
pond with their own.

To apply these principles to my own case, I do not hesitate
to say, that if the instructions of the legislature of my state had
required me specifically to vote for a law or other legislative
act, providing for the restoration of the public deposites to the
bank of the United States, however highly inexpedient I deem
such a measure to be, I should nevertheless have felt it my duty
to give the vole required.

Soch it will be recollected, was the precise demand of the
memorial of the citizens of Richmond presented a few days ago
by my honorable colleague, and which concluded by asking, that
congress "would provide bylaw for the immediate restoration
of the public moneys to the bank of the U. States." But, sir,
this is not the shape in which the question is presented to me,
by the resolutions of the general assembly of nry stale, or by the
proceedings pending in this body. Those resolutions instruct
the senators of Virginia, in general terms, "to use their best ex-
ertions to procure the adoption by congress of proper measures
for restoring the public moneys to the bank of the U. States."
Now, sir, I am bound to inquire what are those proper mea-
sures, in the contemplation of the legislature of Virginia.

We all know that the only measures proposed, or contem-
plated in this body, are the Iwo declaratory resolutions offered
by the senator from Kentucky; the first affirming that the conduct
of the president with reference to the removal of the public de-
posite, was a dangerous and unconstitutional assumption of
power; the second, declaring the reasons assigned by the secre-
tary of the treasury for that removal, to be unsatisfactory and
insufficient. When the latter of these resolutions, together
Will) the report of Ihe secretary of the treasury, was referred
some days airo to the committee of finance, that committee did
not report a bill, or joint resolution for the restoration of the
deposites, but simply a recommendation, thai the senate adopt
the declaratory resolution of the senator from Kentucky. In
short, it in now avowed and understood on all hands, that all
that is deemed necessary, or will be proposed here, to effect a
restoration of the public money to the bank of the U. Stales, is
a mere der.lnralion by congress, of the insufficiency of the rea-
sons assigned for their removal.

The only measures, then, on which I shall he called to carry
into effect the instructions of the legislature of my stale urn, the
declaratory resolutions moved by the senator from Krniucky,
and now depending before the senate. That these resolutions
are, in the, estimation of the general assembly of Virginia, j/ro-
j>r nifumrcs that the opinions and principles declared by
them, are believed by the general assembly to be correct anil
well founded it would be unpardonable blindness to the lan-
guage and tenor of their instructions not. to see. At the same
lime, it it well known to the senate, that on each of the propo-
sitions declared in these resolutions, I had (and I will take
leave to add. aft< r the most careful and anxious invotiL'iition),
com* to opposite conclusions, which I had earnestly asserted
and maintained on this floor. I am, therefore, placed hv the
tiii>lru<-lioiiR of the legitlaiurn of my state, in tins dil.rnma ei-
ther to vote for the declaratory resolutions of rhe senator from
Kentucky, and thereby express opinions whieh I not only do

not entertain, bill the reverse of which I have sincerely nnd
earnestly maintained on this floor; or. by voting ngainsi thi-in,
to oppose Hie only measures which* are likely to come before
this body, having in view the restoration of the public deposites
to the bank of the United States, and thus appear in the attitude
of disregarding and thwarting the declared wishes of the gene-
ral assembly of Virginia. I am sure I but respond to the honor-
aide leclings of all who hear me, in saying, that the first branch
of the alternative is impossible, while tile latter is no less forbid-
den by my principles, and a proper sense of my duty to the con-
stituted authorities of my state. The only course left to me
then, is one which the senate can be at no loss to anticipate.

Before I close the few remarks with which I have felt myself
called on to trouble the senate, I beg leave to say, that while I
recognise implicitly the resolutions just read as the legitimate
and constitutional expressions of the opinion of my slate, I wish
not to be understood as saying that they express the real public
opinion of the state that of the PEOPL$. On the contrary, my
firm and clear conviction is, that Ihe sentiments of the people
in the present instance are not in unison with the proceedings
of the legislative authority. The manifestations of popular sen-
timent already commencing in various quarters of the state
the principles and opinions heretofore steadily cherished by Vir-
ginia multiplied communications received from the most re-
spectable sources; and my own knowledge, I may be permitted
to add, of a people with whom I have been connected, in rela-
tions of public service, for now near twenty years, assure me
that they are not; and the revolution of a lew months, will, I
confidently believe, render the fact manifest to all the world.
But in the regulation of my official conduct here, I am not per-
mitted lo look beyond the constitutional expression of the opi-
nion of the state, by its regular and proper organ. If a senator
were allowed to set tip against the public opinion of his state as
otficially and solemnly declared by her legislature, a hypotheti-
cal public opinion, which may or may not he that of the people
of the state, it is obvious that a door would be opened for the
total evasion of all effective responsibility of this body to public
opinion. It is on the legislatures of the states that the consti-
tution has devolved the choice of members of this body, and Ihe
same legislatures must be the interpreters of the public opinion
of their respective states to the senators chosen by them, when-
ever an occasion shall arise which may call for a solemn mani-
festation of that opinion.

This is indeed the only prarticnlle mode of bringing the opi-
nion of the sovereign communities represented in this body to
act, with authoritative influence, on iis proceedings: and when
it is considered that the senate is, by the greater permanency of
its official tenure, farther removed from the salutary controls of
the representative system than any other branch of the govern-
ment, all will see the necessity of keeping open a clear and de-
signated channel by which public opinion may promptly reach
it in an authoritative form, and be made effectual on its deli-
berations. It is thus, essential to the practical supremacy of
the popular will itself, that the state legislatures should bn re-
cognised as the authentic and constitutional exponents of the
popular opinion of the respective states, in all relations with
this body. If, in any instance, the legislatures of the stales
shall mistake the opinions of the people, it is, as I conceive, for
Ihe people themselves, and not for us. to correct the mistake.

These, Mr. President, are very briefly the opinions I enter-
tain on the delicate questions presented for my consideration
by the instructions of the legislature of my state just read; and
the only alternative they leave me, in the circumstances in
which I am placed, is to surrender the trust with which I have
been honored as a member of this body into the hands of those
from whom I received it. I know well, Mr. President, and I
feel how much of honor and of satisfaction I give up in aban-
doning my seat on this floor. I abandon what I have ever re-
garded the highest honor of my public life an honor than which
none higher, in my opinion, can be presented to the ambition of
an American citizen. I sacrifice social and kindly relations
with many members of this body I would fain hope'with all
which have been the source of the highest satisfaction to me
here, and the remembrance of which I shall cherish with sin-
cere pleasure in the retirement whither I go. I know and feel
the weight of these sacrifices, but great as they are. I make them
without a sigh, as the most emphatic homage I can render lo a
principle I believe vital to the republican system, and indispen-
sable to Ihe safe and salutary action of our political institution*.

The resolutions were then referred to the committee on
finance and ordered to be printed.

Mr. McKcan rose and said, that he had on hand numerous
petition* and memorials, from large numbers of citizens of
Pennsylvania, all complaining of deep distress, and protesting
against the removal of the public deposites from the. United
Slates Lank, and praying for their restoration. He said he had,
for several days, anxiously sought an opportunity to present
them, but could not obtain the floor. True, he said, in accord-
ance with thr humor of the times, some of them were express-
ed in pretty strong terrn. He believed, however, they would
all come within the narlmmrntftry nnderstnndinc of resprctftil
languo&e} and to save time, as he "now had Ihe floor, he would
a-k permission to send them to Ihe chair collcctivelv, and sk
Ibal they be rend, referred to the committee on finance, and be
printed; which was nureed lo.

The papers sent to the chair by Mr. McfCrnn. consisted of the
proceedings of a meeting of hoot and shoe makers and hoe
dealers of the city of Philadelphia; a memorial of nearly 700 ci-

NILES' K KG ISTER MARCH ), 1834 CONGRESS.

tizens of Poltsville and vicinity; the memorial of citizens of
Schuylkill county, and the memorial of the president and direc-
tors ol the Western hank of Philadelphia.

The chair also communicated the petition of a number of the
inhabitants of the township of Moyamensing, in the state of
Pennsylvania, praying for the restoration of the public deposites
to the bank of the United States, which was read, referred lo
the committee on finance, and ordered to be printed.

The senate then proceeded to the consideration of the unfi-
nished business of yesterday, being the motion to refer the me-
morials of the citizens of Portland and of Bangor, Maine, on
the subject of the deranged currency and distress of the coun-
try, consequent upon the removal of the public deposites from
the bank of the United Slales; and, after a debate, in which
Messrs. Webster, Forsyth, Chambers and Kane severally took
part, the question was taken, and the motion for a reference
carried.

The other business attended to will sufficiently appear in its
progress.

February 24. After other business

Mr. Smith rose and presented several memorials and resolu-
tions from New Haven and Hartford, embracing the proceed-
ings of the Harlford bank, Ihe Phoenix bank, the Connecticut
River bank and the Hartford fire insurance company, all pray-
ing for the restoration of the deposites.

In presenting these documents. Mr. Smith made some re-
marks on the character and extenl of the existing pressure, its
cause, and the remedy which was demanded by public opinion.

The petitions and resolutions were laid on the table, Mr.
Smith postponing his motion to read them, in consequence of
the arrival of the hour for the special order.

The senate then proceeded to the consideration of the special
order, &c. when

Mr. Tyler rose and addressed the senate in opposition to the
removal of the deposites, and in favor of their restoration, until
half past 3 o'clock, when, having concluded,

On motion of Mr. Hill, the senate adjourned.

February 25. Mr. Clayton submitted resolutions calling for
information concerning the pension agents and also as lo the
amount of money that had been received for postages, in a cer-
tain period.

Mr. Frclinghuysen presented the petition of 810 of the citizens
of Cumberland county, N. J. praying for a restoration of the de
posites, and made some remarks on the general subject, as well
as with reference to his own position. He was followed by Mr.
Clayton, in a very animated speech.

Mr. Wriht presented a petition from Troy,N. Y. praying for a
restoration of the deposites, and bore a testimony of the respec
lability of the signers. Mr. Clay said that the vote of Troy was
2,200, and that the petition was signed by 1.730 persons.

These memorials being read were referred and ordered to be
printed.

The further consideration of the memorials from North Caro-
lina on the subject of the finances and the distressed state of the
country, was called for by Mr. H(tnuin. and a lively debate fol-
lowed, in which Messrs. Brown, Forsyth, Chambers and Porter,
(the new senator from Louisiana for the first time), took part.

Mr. Webster moved that the senate postpone the previous or-
ders, for the purpose of taking up the bill from the house making
an appropriation for the payment of the revolutionary and other
pensions for the year 1834, and in the course of his remarks no-
ticed an article in the "(Jlobe" which rudely charged him, and
the committee of finance, with u-ithholding the bill, and imput-
ing bad motives; but Mr. Webster shewed, from the journal of
the senate, and even the "Globe" itself, that this hill, received
from the house on the 6th February, was reported by the com-
mittee to the senate on the 10th (and so the committee was
relieved of any particular care over the subject). The bill was
read a second and third time, and passed, without opposition,
as such bills usually are.

February 26. Mr. Chambers, at the request of the committee
deputed for the purpose, presented a memorial from Baltimore
against the restoration of the deposites, &c. the signer? to which
were said lo amount to 3,558. The memorial was read and or-
dered to be printed, with the names of the signers appended.

After some other proceedings, Mr. Webster moved that the
senate should proceed to the consideration of executive busi-
ness which Mr. Chambers opposed, an account of the illness
of his colleague, Mr. Kent. Mr. W. then waived his motion,
but would call it up again to morrow.

Mr. McKean presented a petition from Berks county, Pa.
signed by 1,858 persons praying a restoration of the deposites,
and referred to a letter addressed lo him saying that about one-
half of the signers had never been opposed lo gen. Jackson; and
added he himself knew some of them to he among his warmest
friends. Mr. M<-K. also presentr-d the proceedings of the me-
chanics, &.C. of the Northern Liberties (Phila.} in favor of the
bank, and one from 51 persons of Schuylkill county, against the
bank.

Mr. Clay made some poitited remark* on the petition from
Beiks, ami, after referring to certain facts shewn at Ihe last pre-
sidential election, proceeded to Ray-
He hoped he might be allowed to state a single fact, which
would show the impressions upon the public mind in regard to
the present distress. In the town of Reading, in the county of
Berks, he understood that five hundred vote* were given for the
present chief magistrate, at a late election, and only one hun-
dred against him; yet five hundred of the inhabitants of the

same town had Kiib-crihrd tint petition Ketting forth the existin?
dUtrt*, and praying the aid ol congress to afloid them torn*
effectual relief.

J-'rom nil quarters from whence memorials had issued, Mr. C.
said, we learn a similar state of facts. Ueiitlcineri may b as-
sured that this is no party struggle that now agitates the coun-
try. It H a question between the will of one man and that of

twelve million* of people. It is a question between power

ruthless, relentless, inexorable power on the one hand, and
the strong, deep-fell sufferings of a vast community, on the
other. He trusted that these memorials would be the meruiKof
softening his heart, and presenting to him the true condition of
our afflicted country, and induce him, to the utmost of his abili-
ty, to afford that relief to it which he and his secretary could
instantly supply.

Mr. Clayton made a few observations, to show how very far
the petitioners for restoring the deposites, &c. in these conflict-
ing petitions, exceeded the number of those who approved of
their removal.

Mr. Clay presented a memorial from a large number of citi-
zens of Louisville, Kentucky, on the subject of the pecuniary
distresses of the country, ascribing them to the removal of the
deposites, and praying lor their restoration; and moved to refer
them to the committee of finance, and print them.

A debate then ensued, which lasted until a late hour, in which
Messrs. Clay, Clayton, Tallmadge, Wright, Ewing, Webster,
Chambers and Forsyth took part, when the senate adjourned.

February^. Mr. Webster presented several petitions for a
restoration of the deposites, &c. viz. from the presidents and
directors of all the banks in New Bedford; from Warren coun-
ty, New York, signed by 303 persons; the major part of whom
say they have been friendly to the present administration; and
from 866 citizens. of NorthamptoH county, Pennsylvania. Mr.
W. added that the two last petitions had been sent to him, be-
cause that his views were supposed lo be more in accordance
with those of the petitions than were those of the senators from
the states named.

Mr. Clay made some remarks on certain observations of Mr.
Wright, in relation to the Troy petition recently presented, lo
which Mr. W. replied. [Mr. C. stated some highly interesting
facts, but we cannot get room for them.]

Mr. Webster presented the- following resolution:

Resolved, That the secretary of the treasury lay before the
senate the monthly returns of the bank of the I'nitfd States,
from August, 1833, "to February, 1834, inclusive.

Mr. Poindcxtcr presented the following resolution:

Resolved, That the secretary of the treasury be directed to
'ommunicate to the senate, copies of any order or treasury

liich it is go transferred, or intended to be

ted that Mr. P. should call for the conside-

resentcd a petition from Schuylkill county,

country, &c.

Mr. Tyler rose; to present two memorial? on the subject of ih*
pecuniary embairassments and deranged currency of the coun-
try, praying for relief one signed by 500 citizens of th town f

8 WILES' REGISTERMARCH l, 1834 PHILADELPHIA COMMITTEE, &.c.

Wheeling, Virginia, anil thcotiier from 500 citizens ot'the town
ofNorfolk, in the same stale. These memorials came, he said,
t'r> m the extremes of tlw state from the Ohio river to tlie At-
lantic seaboard.

On mmion of Mr. Webster, the senate proceeded to the con-
sideration of executive hu>iin'<?, and alter remaining in secret
session some hours, adjourned.

BOUSE OF REPRESENTATIVE*.

Friday, Feb. 21. .Mr. J. Q. Mams, on a proposition to amend
th>; jtiurnal, look an opportunity lo pronounce a beautiful eulo-
giuin on the character of Mr. WIRT, which we arc compelled
lu postpone, but, Mjr.lv, will insert.

Alter which the bill to compensate Susan Decaiur was taken
up and discussed, and supponed and opposed ul some len^lli
without coming to any decision in the committee of the whole,
which had leave to sit again.

.Mr. Thomas, of Louisiana, observed, thai to morrow was the
22d, [WASHINGTON'S birthday] a day when it was not nsiinl
for public bodies 10 sit. He therefore wished to move thai the
hou-c, when it did adjourn, would adjourn to Monday next.

Objection being made, he: moved (.,, n.c suspension of the
rule. It was suspended accordingly, :iyrs 114, noes 7; and
ttitieupon the house adjourned over to Monday.

Monday, Feb. 24. The house was occupied the whole of this
day with receiving petitions, and hearing the discussions that
grew out of them, though proceeding no further Ulan i'l-nn.-;. I-
vania in the cull lor petition*.

J'-etitions in favor of a rustoralion of the depositcs were pre-
sented as follows

From Bangor, Miiine, signed hy 238 persons from six hr\nks
in Connecticut from the people of New Haven; from Troy,
signed by 1,730 persons; from Burlington county, N. J. signed
by 2,785 persons; two from the interior of Pennsylvania, by Mr.
Poll*; from Berks county, Pennsylvania, signed by 1,850 per-
eons. And here the presentation of petitions lor the day was
arrested by the debate that ensued, of which we cannot make
ruoin for a sketch.

Mr. Ifuhlcnbcrg, on presenting the last mentioned petition,
made some remarks to shew that this petition did not represent
the wishes of a majority of his constituents, and used some ex-
pressions that were deemed offensivw, which produced an inquiry
from Mr. McKennan, and a desultory debate followed, in which
Messrs. Binney, Watmough, and others took part. The petition
had been drawn up both in English and German, and Mr. Muh-
tenberg had detached the latter before its presentation but it
was restored on the suggestion of several members. Then a
discussion on printing the names took place, and most of them
being in German, it was proposed that they should be printed
in that language, and so it was finally agreed by yeas and nays,
112 to 90. In the course of the debate

Mr. Tutrctl would oppose, if he stood alone, the printinj of
all such petitions. It was surprising to him, to hear such an
unnecessary expense advocated. There was among others, a
petition already printed on this subject with sixty-two pages of
names, at a considerable expuiisv. Those petitions, he believ-
ed, were got up originally by the bank, and those who procured
the signatures were paid for their trouble out of Mr. Biddle's
fcreecbes' pocket. He felt that it was time for the house to take
a stand, and save the treasury this expense which was sought
to be llirowu upon it. It was possible that many of those who
signed the petitions from I he large cities, were stimulated by
the atturance that their names would appear in a printed bool:.

Mr. Crockett said: Sir, as I am the only person from Tennes-
see in this house Tvho am opposed to the administration, I hope
I may get a few words in; that I may say what are my own
notions on these matters sir, I think the member from N. Vork,
(.Mr. Turrcll), who has just spoke, has been a little testy ...
his objections; he talks much about this, as if it was a great mat-
ter. Sir, are we to stick at such trifles as a few dollars in the
printing a mailer so important. It seems, sir, to me to be sonic
thing like loading a twenty four pounder to shoot a flea. Sir,
is il not so. We are spending 3 or 4,000 dollars in discussing
the printing of a matter that perhaps after all will not be 20 cost!
But, sir, this is retrenchment; but it is the old rule for retrench-
ing. I love, sir, to see the petitioners come here, and my life
on it, sir, they will conn-; aye, and from Indiana, for all that we
hear to the contrary; and yet from my own stale, every day my
letter* It'll m they wish this question settled.

Tliey know very well in my district the character of tho man;
who when he takep any thing into his head, will carry it into ef-
ect. They knew how I should act in this bank business, for I told
them, belorc I wan el.-etcd, how I should vote that I would
recharler Hie bank, and restore the deposites. Sir, I get letters
every day from all parts, which tell me these acts are disap-
probaUd. The question is now whether we shall be under the
old ami happy st.ito of things, or have a despot. Sir, the peo-
ple Uavn a risht to tell their grievances, and sir, I tell you they
must not be refused I can't stand it longer I won't.

Tuetday, Feb. 25. After the morning business-
Till! hpu*e resumed the consideration of the bill making np
propriations for certain fortifications, the question tiring ii tin-
motion of Mr. McDuffie to commit the bill, that its provisions
-nii s lt be more fully investigated. Thin was opposed by Mr.
folk, and a debate ensued. At last the bill was recommitted
a* il were by content.

The Indian appropriation bill next camo up the iiii'sr
being on a motion of Mr. H. Everett to recommit it, which he

withdrew, because certain information desired had since been
obtained. The bill was read a ihird time, and the <jtit.-8tion be-
in;; 0:1 it." passage a debate arose which lasted until the aiijonrn-
irrit. of ihe house.

Wednesday, Feb. 26. The resolution offered by Mr. Mardit
was taken up, and discussed by Mr. Clowney, in opposition to
its passage, until the arrival ol the hour for the orders of the
day.

The house then resumed the consideration of the bill making
approprialiou&ybrtAe Indian department for the year 1831. The
question bring on the third reading of the bill,

Mr. McKay moved to recommit the bill to the committee of
the whole on the state of the union.

[The reasons assigned for the motion were the necessity of a
more deliberate examination of the items, particularly lliose
which related to the expenditures for agents and transportation
of presents, for blacksmiths and gunsmiths, which last item, it
was contended, was reported in the Indian annuity bill, as well
as the present.

It was replied, that this was a regular appropriation bill; that
ihe funds were required to pay expenses incurred and indivi-
duals employed in the Indian country; that the agents were ap-
pointed by treaty; and that the items in the bill were precisely
tin) same, except that they were diminished in amount, as iu
former bills.]

The motion was supported by Mr. McKay, Mr. Coulter. Mr.
Hawep, Mr. II. Everett, Mr. Fillmore, Mr. Mercer. Mr. L. Wil-
linms, Mr. Vinton, Mr. Wilde, and opposed by Mr. Polk, Mr.
Sevier, Mr. McKinley, Mr. Cambrelcii" and Mr. Beardslcy.

The yeas and nays were finally taken on the motion to re-
commit, and stood as follows: yeas 106, nays 101.

So the motion to recommit the bill was agreed to, and then
the house adjourned.

TAursdai/, Feb. -27. The resolution offered by Mr. Martlis was
further discussed, and Mr. Clowney having spoken to the expi-
ration of il; hour, the house proceeded to the orders of the day.

liobert B. Campbell, a member elect from South Carolina in
the place of Mr. Singleton, deceased, appeared, was sworn, and
took his seat.

The remainder of the sitting was spent in considerins the bill
lo authorise Ihe construction of a bridge across the Potomac,
and a bill to provide for the settlement of certain revolutionary
claims.

REPORT OF THE PHILADELPHIA COMMIT-
TEE, &c.

The very respectable committee appointed to carry to
Washington the memorial of 10,259 citizens of Phila-
delphia, (to whose names were attached their various
professions, business, trades, &c. ) made a report of their
proceedings to a very numerous meeting, convened at
the exchange on the 22d ult. for the purpose of receiv-
ing it.

The facts stated by the committee are highly import-
ant, especially as they occurred in their interview with
the president of the United Stales, and we shall extract
that part entire. Much moderation is observed, as it
should be, in this statement, and that it is substantially
correct, certified as it is by twenty-one gentlemen of ex-
alted character, cannot admit of a doubt. Hence it as-
sumes the shape of an official paper, in relation to a most
interesting subject. And it is worthy of remark, that
the private statements made by the members, of like
committees from the citizens of JVew York and Balti-
more, astonishingly conform with the facts more pre-
cisely and publicly stated by the Philadelphia commit-
tee, even in the very -words and terms used by the presi-
dent, in particular cases. As an evidence of this, we heard
the intelligent and worthy chairman of the Baltimore
committee give a full narrative of what passed in the in-
terview with the president, and, the next day, received
New York papers with such an account of what happen-
ed to the New York committee, that, on meeting with the
chairman alluded to, we laughingly charged him with
some sort of second-sight knowledge by which he had
made his account so nearly correspond with that of the
New York gentlemen, before a publication had reached
us on the part of the latter, in the "Commercial Adver-
tiser" of Feb. 15.

After giving a narrative of the incipient proceedings
at Washington, as to the presentation of the Philadel-
phia memorial Ihe report proceeds:

The memorial having been satisfacioiily disposed of in bolh
bouses ofcongrw*, tin- delegates thought it respectful to call
on the president of tin; United States, and rnako known to him
tlm condition, the sufferings and opinions of their constituent*.
Tin -i interview took pine.: In appointment at two o'clock On
the 11 th of lYhrii.iry. The rich-gates having been severally in-
troduced lo the president, WITH Vfc-rived with such puliii-negsj
and courtesy of manner, as to justify the expectation of a pa-
tient and candid hearing, tn this, however, they were disap-

NILES' REGISTER MARCH 1, 1834 PHILADELPHIA COMMITTEE, &e. t

pointed. The chainmii had hardly announced in one or two
sentences the general nature of our mission, when tin- pre>i-
dent interrupted hi::i, amt proceeded iu a Vehement ducourse
of more than twenty minutes duration, to announce to us, anil
through us to our constituents, A is opinions and his determina-
tions iu reference to the restoration ol tin: deposites, the rechar-
ter of the bank, and the Hit lire deposition of the public reve-
nue. In the course of those remarks (which as they were long,
and somewhat desultory, it is deemed unnecessary to present
in detail), tin: following positions were distinctly assumed by
the president:

1. That application for relief must be made to the bank of
the United States and not to him; that whatever distress exist
ed in the community (and lie believed there was some distress)
had been caused by the bank, which was hoarding its specie
and curtailing its discounts in order to crush the state banks
and compel the government to abandon its policy. That the
executive had no power to relieve the distresses of the com-
munity, but that (he stockholders of the bank might effect that
object by electing directors who would conduct its affairs ho-
nestly and on principles of Christian benevolence.

2. That the present directors of the bank had violated its
charter, by giving to the president the whole power of the bank;
a power to use its funds without voucher or receipt. That
t-ucli a power in the hands of one man, was dangerous to the
liberties of the country, and had been used to destroy the elec-
tive franchise. That the president of the bank, if an honest
man, would not have accepted a trust so unlawful. That for
these reasons he regarded the bank as a monster of corruption,
which he was determined to put down. That, a bank so using
its powers ought (as he repeatedly expressed it) to be robbed of
those powers.

3. That the law creating the bunk of the United States, was
in his opinion unconstitutional. That no power to create a
national bank was conferred, or intended to be conferred by
the constitution that the provision by which congress was au-
thorised to regulate the currency, had reference only to domes-
tic and foreign coin, and not to paper of any description.

- 4. That, having made up l.'is mind irrevocably upon all these
points Jlndreu' Jackson never would restore the deposites to
the bank Andrew Jackson would never reeharter that monster
of corruption that neither persuasion nor coercion, nor the
opinions of the people, nor the voice of the legislature, could
shake his fixed detciinination that sooner than consent to re-
store the deposites, or reeharter the bank, he would undergo
the tortures of ten Spanish inquisitions; that sooner than live
ji) a country where sneh a power prevailed., he would seek an
asylum in the wilds of Aiahia.

5. It was announced by the president that he meant to conti-
nue the present system of collecting the revenue by the state
tanks, until the experiment had been fully tried, and at all events
tmtil the expiration of the charter of the United States bank.
That he had no doubt of the success of the experiment, nor that
the state banks would answer all the purposes of the country.
That Ac would furnish the country with as good, nay, a better
and more solvent currency than that of the national hank that
he had early foreseen and provided against the inclination of the
bank of the United States to crush the state banks, and that his
interposition.alone had saved them from ruin that he would
continue to protect the stale banks by all the means in his
power.

6. The president admitted that considerable distress had fol-
lowed the action of the government in relation to the deposites.
He had never doubted lhalirofrers and stock speculators, and all
iclio were doing business upon borrowed capital, would suffer se-
verely under the effects of the measure, and that all such peo-
ple ought to break.

The foregoing paragraphs are believed to contain all the im-
portant ideas expressed by the president, in the first part of his
discourse to the delegates. In some emphatic expressions his
language is accurately preserved, while his numerous repeti
lions of the same idea in different words, which served unne-
cessarily to prolong the interview, have been avoided. Once
or twice the chairman took occasion to explain that he seemed
to misapprehend the position of the delegates; that they had not
come to represent the bank or promote its interests, but to lay
before him the condition and wishes of citizensof Philadelphia,
unconnected with that institution and engaged in the various
departments of commerce and industry. Such explanations,
however, produced no visible effect on" the tenor of the presi-
dent's discourse, nor did he allow an opportunity to make those
statements as to the condition of this community, with which
the delegates were especially charged.

In reference to his declaration, that he would continue the
present system of collecting the revenue through the state
banks, until the experiment had been fairly tried, one of the de-
legates inquired, whether he had determined upon any plan by
which the' country might be relieved in case the experiment
failed. His answer was, that he was disposed to be candid,
and would explain his views on that point. That in order to
restore the currency to the-condition intended by she constitu-
tion, and place the moneyed concerns of the country where the
sngea of the constitution found and left them, he proposed to
put out of circulation all notes of five th. liars and under by plac-
ing the public money in such str.tr hanks, as would issue no
notes below ten dollars nn<1 by forbidding the. receipt in pay-
ment of the revrmip. of ihn notes of nil banks, which should
ieciio Bolus under ton dollar*.

That the ame process would next be pursued in reference to
all notes under twenty dollars, and thus a metallic currency be
ensured for all the common purpose* of liie, while the use of
bank notes would be confined to those eniruL-ed in commerce.

The same delegate having inquired when "he proposed to put
this plan into execution, the answer was,-u<.t immediately not
until the expiration of the charter of the bank of the United
Suite:-. Go home, gentlemen, (said he) and tell the bank of the
United States to relieve: the country by increasing IU business
Let the United States bank make no ruti upon the stale banks
and I will take care that the state bunks make no run upon her.
Let the war between the banks cease, and all will be well in
forty-eight hours. The bank of the United States is trying to
crush the state hanks. Tell the state banks that I will protect
them, and that the power of tin; United Slates bunk is nearly
gone, and that it will be compelled to cease its present course.
Here one of the delegates observed to the president we are
many of us, sir, connected with state banks, and yet we know
of no such warfare between them and the bank of the United
States, as you speak of. It does not exist in the city of Phila-
delphia. There i?, on the contrary, the utmost goodwill and
harmony between the United State* bank and the other banks
of our city, and nearly all the latter are in favor of a reeharter.
To which the president quickly replied I know all about it, sir;
I know that some of your hanks have combined in favor of the
bank of the United Stales; I have examined the whole subject,
and understand it better than any of you. I have looked im-
partially at both sides of the-queslion, and have Ihe best infor-
mation on the subject, from Maine lo New Orleans, from the
most undoubted sources. I learn this morning, (Feb. 11), from
New York, that stocks are rising, and that money is becoming
abundant. Let the directors of the bank pursue their business
on principles of Christian benevolence, and all will be well.
Let them wind up the business of the bank, without attempting
10 break down the government, and force a reeharter, and it
will die with the blessings of thousands; otherwise, it will hava
the curses of millions. I have read the scriptures, gentlemea,
and I find that when Moses ascended the mountain, the children
of Israel rebelled, and made a golden calf and worshipped it,
and it brought a curse upon them. This bank will be a greater
curse. I have no hostility to the bank; I am willing it should
expire in peace; but if it does persist in its war will) the govern-
ment, I have a measure in contemplation which will destroy it
at once, and which I am resolved to apply, be the consequences
to individuals what they may. The bank has in circulation ten
millions of checks, which I have no doubt are illegal, and which
I will direct the state banks to refuse in payment'of the public
revenue. These checks must then be returned upon the bank,
and will drain her of the specie she is hoarding. This measure
I will apply, unless the bank desists from its course.

Here the chairman remarked, that the batik was perfectly
aware of the design of the executive in reference to the checks,
and gave it as a reason for not extending its discounts, and for
retaining so large an amount of specie on hand. That daily and
hourly applications for relief were made by our cilizens lo the
bank, without effect. That the directors of that institution felt
bound to husband their resources and stand on the defensive,
while so serious a weapon is in (he hands of the executive.
Well sir, replied the president, let them do right and I will not
injure them, hut if they persist in measures which I deem op-
pressive and unjust, they must expect lo feel my power. In the
course of these remarks, of which a plain and certainly not an
exaggerated sketch has been attempted by your delegates, the
president very frequently used the expression that HE was de-
termined to place and to leave HIS government, where the sa-
ges who framed the constitution found and left it, and also to
place the currency and revenue of the country where the sages
found and left it.

It occurred to several of the delegates to ask for an explana-
tion of phrases which conveyed no distincl or tangible meaning
to thrir minds. Their historical reading had taugbl Ihcm, that
the framers of the constitution found the government in anar-
chy and left it in order; that they found the currency and reve-
nue in ruins, and left both in a state of exalted prosperity; and
that one of the instruments by which this change had been ef-
fected, was a national hank, hearing almost equal date with the
constitution itself a bank of Ihe same kind which Ihe presi-
dent had stigmatized as a monstrous contrivance above and
against both the constitution and the law. Fearing, however,
that it might lead lo a controversy aboul facts and history, and
unwilling to contend with one whose opportunities at least
have been better than their own, they abstained from inquiries
which their curiosity strongly urged, but which promised to
lead to no useful result.

The interview had now lasted about an hour, and during that
period it had been impossible for the delegates, without unpar-
donable rudeness towards the chief magistrate of the nation, to
explain to him their business and their wishes. It had become
obvious, moreover, that his mind was pre-occupied by a view
of the subject, which would neutralize the effects of facts or
reasoning, that he regarded the whole question as a contest be-
tween the bank on the one hand, and him and HIS government
on the other; a contest in which the people had no concern,
except as they might array themselves as partisans of either,
that he considered hi* own power, and the stability of HIS go-
vernment naked upon the issue; and consequently that the ar-
guments of thooe who disclaimed connection with either party,
and owed no allegiance bat to truth and Juiliee, nod ttt os-

N1LES' REGISTER MARCH 1, 1834 DEPOSITES FOR PENSIONS.

mon weal, would either be rejected without a hearing, or i
heard, would be utterly disregarded.

The delegates, therefore, as soon as this painful and (as free
citizens they must add) humiliating conviction was forced upoi
their minds, rose to take leave. One of their number seizec
the opportunity of a parting word to say, with emphasi?, that to
the president, and to his conduct in removing the public depo
sites, the citizens of Philadelphia attributed the distress uude
which they labor. His reply to this remark was but a repetitioi
of assertions previously made, and the delegates retired witl
no cause of complaint as to their personal treatment, but indig
nant that the voice of more than ten thousand citizens, couU
be deemed by the president unworthy his attention, and with a
sad conviction that the high places of power, in a land boasting
of its freedom, were closed and barred against unpalatable truth
The committee tlien proceeded to give an account ol
the further proceedings, holding out encouraging pros-
pects as to the result, iti changes of opinion effected, 01
expected to be made, in the minds of members of con-
gress; and they exhort the people to perseverance, in a
hope that their representatives will finally act to relieve
the awful and extensive public distress that prevails.
This part is very interesting, but we cannot get room for
it, at length. They refer to the fiscal concerns of the
state of Pennsylvania, and call upon the people to redeem
themselves and their country, &c.
The report concludes as follows:
One word of exhortation to their fellow citizens and the de-
legates have done. It is no common occasion which has callec
for this unprecedented assemblage. The evils to be averted are o
no common character, and call for the exertion of extraordinary
energy. A contest has commenced the parties to which are
the people on the one hand, and the executive on the other a
contest full of difficulty and involving our dearest interests
as citizens and as freemen. Let all so regard it, and let
all so conduct themselves as to show they understand its
nature and its consequences. Let him that bath property,
spare of his abundance to secure the remainder; let him thai
hath talents or affluence expend them freely in the cause ol
social happiness and of chartered rights and he that hath nei-
ther of these, let him bring a patriot's heart and a patriot's voice
as his most acceptable sacrifice on the altar of his country.

Let old and young, rich and poor, the learned and the un-
learned join hand in hand, and with one voice and spirit, as
they have one interest in the event, unite their efforts to hind
up the wounds of their afflicted coutitry and restore her once
more to health and prosperity. If the prevalence of such a
feeling shall date from this day, the hallowed anniversary of the
birth of the father of his country, each succeeding return of the
same auspicious day, will carry with it an additional claim to
the respect and veneration of the American people.
Signed by the committee as follows:

JO LI H i) CHAUNCEY,
THOMAS FASSITT,
JAMES MARTIN,
WILLIAM GILL,
JOHN STRUTHERS,
SAMUEL COMLY,
CALEB COPE,
JOSEPH H. DDLLES,
THOMAS FLETCHER,
GIDEON SCULL,
JOHN WATERS,

ROBERT T. POTTS,
BENJAMIM NAGLEE,
HENRY TROTH,
MORDECAI D. LEWIS,
JOSEPH SMITH,
MERRIT CANBY,
JOHN S. WARNER,
J. FISHER LEAMINO,
ISAAC MACAULEY,
JOSEPH MclLVAiNE,
BELA BADOER.

Caleb Cope, esq. on behalf of the delegation, offered the fol-
lowing preamble and resolutions, which were seconded by Jos.
R. IngersoZ/,esq. by which gentleman they were most eloquent-
ly and ably supported, and were adopted without dissent.

The committee recommend the adoption of the following pre-
amble and resolutions.

Whereas, it is believed, that a sound currency is essential to
national prosperity, atid that to the influence of the bank of the
United States are to be attributed the Advantages f a sound
and equal circulating medium, high public credit and low rates
of interest, in the enjoyment of which, private enterprise has
flourished, and the finances of the state and general govern-
ment have been successfully managed, anil it in evident lli.it
the attempts now made to break up a system so fully tested and
o admirably adapted to our country, are highly injurious, and
if persisted in will be destructive alike to public and private
prosperity, Therefore

1. Resolved, That the, present crisis, so full of danger to the
constitution, and so marked by assaults upon all that is valuable
In property and in civil rights, demands our resolute, active and
unyielding efforts, to restore the broken faith of the government
and lo sustain the institutions of our country.

2. Resolved, That the avowed intention of the executive to
prosecute nn EXPERIMENT on the national currency, by
wielding at his sole will the entire revenue, is a usurpation in-
compatible with our (syetein of government, and at utter vari
ance with the duties of a chief magistrate of a republic, who is
no more above the law than the humblest citizen of our land.

3. B.e*oh-ed, That the sentiments of the president of the Knit
ed States, his manner and tone at the recent interview with the
delegate* from this community, and his open declarations on
that and other occasions, evinc a settled purpose to destroy

the present currency of the country, by a rash and ruinous ex-
periment. That by his disregard of consequences, rusnlting
from the measures of his administration; by his reluctance to
listen to facts or reason, and by substituting the personal feel-
ings and arbitrary will of ANDREW JACKSON, in place of the
official dignity and constitutional action of the PRESIDENT
OF THE UNITED STATES, he has introduced into the go-
vernment a feature unknown to the constitution and dangerous
to the rights and liberties of the people.

4. Resolved, That the common prosperity of the inhibitants of
the United States, and more especially the peculiar interests of
the state of Pennsylvania and of the city of Philadelphia, de-
mand an immediate recharter of the bank of the United States,
so that confidence may be restored, lost faith be recovered,
an impulse to industry be given, and our country be raised from
its present despondency, to a state of active and cheerful en-
terprise.

5. Resolved, That in the present suspension of commerce and
the arts; and in the consequent distress spread through society,
we see but the beginning of those evils, which if they be not re-
medied by the action of congress, will eventually produce most
extended ruin that it is the duty of every man, who has any
thing to lose by a revolution, or any thing to gain by a govern-
ment of laws, to put forth his strength in behalf of his country,
and not to give back until truth shall prevail, and the country
be restored to its former prosperity.

6. Resolved, That, in a crisis like this, all minor differences
of opinion, all secondary distinctions of section or of party
should be cast aside, and the freemen of the country should be
urged to rally under the broad banner of the constitution, in de-
fence of their primary and essential rights.

7. Resolved, That the people of Pennsylvania, and of other
states, be invited to hold county and town meetings, for the
purpose of averting the approaching ruin and it is recommend-
ed that committees of correspondence be organized, and that
deputations from each meeting be sent to Washington, to explain
to congress the condition or the country, and to enforce the
necessity of immediate relief; by a restoration of the currency
and public confidence.

8. Resolved, That it be recommended to the freemen of the
several counties of Pennsylvania who agree with us in senti-
ment as to the causes and remedy of the present distress to ap-
point delegates to a general convention to be held in Harrisburg,
for the purpose of devising measures to restore the prosperity of
the country.

9. Resolved, That in the opinion of this meeting the Girard
bank of the city of Philadelphia, ought not to retain the public
deposites and thereby countenance and uphold a system which
is believed to be unlawful, and which experience has already
shown to have a disastrous influence on the prosperity of the
city.

10. Resolved, That a committee of thirty be appointed by this
meeting with power to convene from time to time, to nil vacan-
cies in their own body or otherwise to enforce the objects of
this meeting at Washington, Ilarrishurg and elsewhere, to cor-
respond with other committees throughout the United States,
and to adopt such measures as in their judgment will tend to
accomplish the objects of the foregoing resolutions, and to con-
tinue the same until their exertions shall be crowned with suc-
cess.

Some other resolutions of a local nature, or as votes of
thanks to the committee, &c, -were passed, and the whole
are signed by

JOHN A. BEOWJT, Resident Samuel Richards, Wil-
iam Gill, Benjamin Naglee, George Miller, Bela Bad-
ger, Israel Roberts, Thomas Fletcher, Robert Burton,
John Scholefield, vice presidents, and Jacob M. Thomas,
Henry C. Corbit, Richard Morgan, J. C. Wolbert, se-
cretaries.

At the conclusion of the meeting nine hearty cheers
ere given for the "constitution and the laws,"

PUBLIC DEPOSITES.
In the senate o/ the United States, February 17.

PENSION AGENCY UNITED STATES BANK.

Mr. Clayton from tin- committee on the judiciary, to whom
have been referred the messaje of the president of the United
htates of the 4th February Ust, and the accompanying ,locu
ments in relation to the removal of the funds, books and pa-
pers connected with the pension affencv of tlie bank of H,,-
United States, under the art of June 7th, 18.T9, have urreed
in the following report:

The message and documents referred to the cnmi.iittre show
he fact, that the hank of the United Si.ites had declined to
comply with an order of the department f war. issued on thn
id of January, 1834, demanding a surrender of ibe funds, books
rid papers belonging to the pension ae,icy of the bank, under

he act of congress approved on Hie 7lh of Juno.. I8.'i^ entitled

an act supplementary to the act for the relj, f O f ceilain ur-

ng officers and soldiers of the revolution." The orders ap-

pear to have been issued by the commission, r of pension., act-

ngunder tho direction of the secretary ofwar, and it announces

ie appointment, on tho snmo day," of fifleen new pension

Bent- to perform the duties heretofore performed by thn bank

i pension wnt* under that law. Tho^e agent* are the ,,r*i.

nu of curtain <tate banks to which a portion of the public

NILES' REGISTER- MARCH 1, 1834 DEPOSITES FOR PENSIONS

deposites has been removed by tlio late order of Hie secretary
of the treasury. At the same time, and by the said order, the
bank of the United States was commanded to cease paying pen-
sions nndc-r the law referred to. The hank in repiy to the
mandate of the secretary, while it respectfully declines to de-
liver the funds and papers as directed, withont the consent of
congress, profess its perfect willingness to surrender its trust as
pension agents, if it shall he the pleasure of congress to release
it from the charge, but regarding such a surrender, without the
permission, to be a violation of its duty to congress and llie
country, it awaits some decision, either legislative or judicial,
to discharge it from the burden of this agency, or to reinstate it
in the discharge of its duties. In the mean time, fearing an ob-
stacle in the settlement of its accounts for future disbursements,
should it pay any more pensioners under this act, after the pro-
hibition of the secretary, it has obeyed his injunction to cease
paving them until further directions.

For the course pursued by the bank, the message, if it does
not invoke the vengeance of the public against the institution,
certainly denounces it as the cause of all the delay and embar-
rassment which has occurred since the secretary's order in the
payment of the debt which the gratitude of the nation has
awarded to the surviving veterans of the revolution. The pre-
sident considers the conduct of the bank as an usurpation of
the functions of the judicial power, and an attempt to prescribe
to the executive department the manner in which it shall exe-
cute the trust confided to it by law; condemns it as without ex-
ample in the history of our country, and declares that, if the
acts of the executive may he thus checked, and controlled
"the whole frame of our government is changed."

The committee have examined the questions growing out of
the documents referred to them with all the care required 'by a
matter which, in the opinion of a co-ordinate branch of the go-
vernment, touches the honor of that government, as well as the
just claims of the surviving soldiers of the revolution. They
have found no ground for any difference of opinion among
themselves, and they now unanimously submit the following
view of the whole subject for the consideration of the senate.
The loth section of the act to incorporate the subscribers to
the hank of the United States, approved on the 10th of April,
1816. provides that during the continuance of that act, the cor-
poration shall, among other things, "do and perform the several
and respective duties of the commissioners of loans for the se-
veral states, or of any one or more of them, whenever required
by law." fn lees than one year after the approval of this act,
congress passed "the act transferring the duties of the commis-
sioners of loans to the hank of the United States, and abolish-
ing the office of commissioner of loans," which act was ap-
proved on the 3d of March, 1817. Both statutes were passed by
the fourteenth congress. The first section of the last act pro-
vides, "that the bank of the U. States and its several branch*-*
shall he, and they are hereby required to do and perform the
several duties of commissioiiBrs of loans for the several states;
and the bank of the U. States, and its several branches, and such
Rtate banks as the bank of the United Slates may employ in
those state* where no branch bank shall be established, shall
observe and conform to the directions which have been, or may
hereafter be prescribed by the secretary of the treasury, with
the approbation of the president of the United States, touching
the execution of the duties aforesaid. "

This statute in connexion with the loth section of the charter,
imposed a burden on the bank important to the government,
and still more important to those who were the most meritori-
ous objects of its bounty. For while that section enjoined it
as a duty on the corp'oration to give the necessary facilities for
transferring the public moneys to any part of the country, and
for distributing the same in payment of the public creditors,
without charging commissions, or claiming allowance on ac-
count of the difference of exchange, the same section, in con-
junction with the act of the 3d of M.irch, 1817, made it the im-
jerative duly of the bank to assume the agency of paying all
pensioners of the government; such being at this time, one of
the principal duties of the commissioners of loans. But the
agent thus appointed by special act of congress was not vested
with a, general discretion in the discharge of those duties. It
was bound to conform to the directions of the secretary, with
the approbation of the president, "touching the execution of the
duties aforesaid." The power of the executive over the bank,
ID this matter, was conferred by congress, and the extent of
th power of the former over the latter was clearly defined by
the same authority. No rislit is vested in the executive to an-
nihilate Hie agency of the bank, or to substitute another at exe-
cutive discretion. The agency shall exist, says the law the
bank shall pay certain moneys; but as to the time and place of
payment, the portions of these pensions to be paid in certain
cases: in short, in all things tsuf.hins. the manner of executing its
duties, this public servant shall be subject to the control ol
another who shall, so far exercise a roperin tendance over the
former. The duties enjoined on the bank by this act are mi-
nisterial those of the secretary arc supervisory; and the two au-
thorities do no more clash with each other than those of the
court and the marshal of the district, each of which is created
by law, anil liable to all the restraints imposed by that law
The bank being subject to the liability* of a paying agent, was
to have the choice of its own suh-agents among the state banks
in those states where no branch bank of the United States was
established- and bv a proviso of the third section of the same
act of tUu 3d of March, 1817, a saving clause was introduced

for its benefit in case no state bank should be established by
law in any one of the states, in which case the aii-ncy for mi-
litary pensions in that slate was not to be effected by the act.

The committee consider that the attorney general manifestly
errs when he represents the " presidents ui tin; |,ank of the Unit-
ed States and its several branches" as the agi-iits constituted by
this act. The only agenu known to the law were the bank ami
its several branches. They, and not their respective pie.-!i!> nts,
were required to do the several duties of commissioners of
loans. They, not their presidents, were to choose sub-agent*
among the state banks, and the injunction to observe and con-
form to the directions of the secretary in regard to the execution
of their duties operated on them, not on their several presidents
merely. The attorney general says, the law of 1817, by which
the duties then performed by the commississoners of loans,
including the general pension agency, are transferred to the
bank of the United States, expressly declares that these powers
"shall be performed" by the president of the bank and iw
branches, and that their acts shall be countersigned by the
cashier." It is true, that the second section, to winch he pro-
bably referred, enacts "that all such duties and acts as are now
done and performed by the commissioners of loans, in transfer-
ring stock from the books of one loan office to another, or to the
books of the treasunj, or from the books of the treasury to the
books of the loan offices shall be done and performed by the pre-
sident of the bank of the United States, the presidents of the
several branches of the said bank, and by the presidents of such
state banks as the bank of the United States may employ, (in
states where no branch of the United States 1 bank shall be es-
tablished); and the acts of the presidents aforesaid shall be
countersigned by the cashiers of those banks respectively."
This section is the only one prescribing services to he performed
by the presidents of the bank and its branches, unless the third
section should be deemed to be of this character, which directs
the transfer of the papers to the presidents, while it unequivo-
cally recognizes them only as agents of the bank to receive
those papers, by an express direction that the notice of the
transfer shall be, "that the duties u-ill be transferred to the
ianft." Where the attorney general can find that part of the
law of 1817, by which the general pension agency is transferred
to the presidents or cashiers of the bank and its branches, or
which "expressly declares that the powers of the commis-
sioners of loans, including the general pension agency, shall be
performed by the presidents of the hank and its branches, with
the counter-signature of the cashiers, the committee are at a
loss to imagine. It is true, that, as sub-delegates and organs of
the bank, they have been sometimes addressed as pension
agents iu the correspondence with the department which they
have always conducted. It is true, that, as the agents of the
bank, conducting business by its orders, the pension rolls have
been sent to them to be placed in the custody of the bank; and
that as the officers of the corporation, they have been directed to
inscribe the name of the pensioner on the rolls; and to pay to the
time of the semi-annual payment, if the claimant should be still
living, and, if not, then up to the day of his death. So the
cashiers of the several branches might have performed the same
duties with the consent of the bank; and we find that, under
the direction of the secretary of the treasury, the business of
this agency, so far as regards the pension act of the 15th of
May, 1828, has been conducted through the cashier of the
branch bank of the United States at Washington. The error
to which we have referred admits a construction which would
deny the liability of the institution whose capital is bound for
the safety of tht pension fund. It would divide that liability
among the presidents of the branches, who never gave bonds
for the money, and whose personal responsibility would, if the
opinion we controvert were sound, furnish the only security
for the safety of the millions which have been entrusted to the
bank on the credit of its whole capital. It is the more unob-
jectionable as it would strengthen the untenable position that
the pension agent of this government, accountable now for the
payment of more than twenty-three thousand pensioners, is,
and ever has been, a creature of the executive, and not the de-
legated agent of congress.

In the opinion of the committee there can be no greater error
on this subject than to suppose that it is through a mere ex-
ercise of executive authority that the banks has became the
legal asent for the payment of pension money "It took." says
the attorney general, "the agency from the commissioners of
loans by substitution in their stead: and those commissioners
derived it from an executive regulation." But the substitution
was by an act of congress. In addition to those parts of
the act of the 3d of March, 1817, to which we have referred
for the purpose of showing this, the third section of the same
act directs "that it shall be the duty of the secretary of the trea-
sury to notify the president of the United States that the duty
now performed by the commissioners of loans will be transfer-
red to the hank of the United States, and shall so direct the
commissioners of loans, and the agents for military pensions
where there is no commissioner, respectively, in the several
states to deliver to the president of the United States bank or
to the president of a branch thereof, or to the president of such
state bank as the bank of the United States may employ on
sMieh day or days as he may designate, the register and all the
records anil papers of the respective officers, and it shall be the
dutv of said commissioner! of loans, and agents for pension
to comply with the said direction, and also to duplicate receipts
for the delivery of the papers and rocoraa hereto described, ene

18 NILES' REGISTER MARCH 1, 1834 DEPOS1TES FOR PENSIONS.

with one or more securities, conditioned for tlieir good be-
haviour in their offices, respectively. Whether these officers
were originally bound by executive regulation only, or by ex-

inunications referred to tiie committee aime aunm me wen
known fact that these commissioners wfcre employed as agents
of the government in the payment of pensions, and that they
continued to be so employed until after the organization of the
bank of the United States. The act passed on the 24th of
April, 1816, authorises the secretary for the department of war,
"to appoint some fit and proper person in those states and terri-
tories where there is no eommisKioner of loans, and also in the
district of Maine, to perform the duties in those states and terri-
tories, and in said district, respectively, relating to pensions
nnd pensioners whkh are now required by said commissioners
in their respective states." This act recognises the duties of
pension agents as pertaining to these commissioners before the
passage of the act of the 3d of March, 1817, and restricts the

:tary of war, in his correspondence with the presi-
bank, (to be found in their reports of committees of

No matter who may desire to take

liter, IAJ up|M - y no fuace. raw matter wuu may ursire 10 i:ihe
he responsibility of the act which the secretary of war has coin-
lilled, we can look only to htm as properly answerable for it;
.nd it is therefore that we refer particularly to his opinion which,

and ins iiiKiKiure mm we ruer particularly 10 ms opinion wnicli,
under any other circumstances, would have come to us as the
conviction of an able expositor of the law, but would have been
entitled only to the same weight which we should have accord-
ed to any other man of equal learning and ability. To enable
the senate to see under what circumstances this opinion was
given, let us recur to a part of the history of the bank. It ap-
pears by the document last referred to, that, in the summer of
1829, an attempt was made by the honorable John H. Eaton,
then secretary of war, to remove the pension agency from the
branch bank of the United Slates at Portsmouth, in New Hamp-
shire, to a state bank at Concord, in that state, and that the au-
thority of the secretary to effect this was then denied by the
bank of the United States. The commissioner of pensions, in

Vila letter In Mr. \1;inn tlia r\i i> . i/l. 1 1 1 t\f Ilia !.. !,,,.) I.....I :.

to the interests ol the pensioners, in wishing to have them pai
In that part of the state where the greater facilities are prcsc.nl
ed." If this were intended as an apology for the act of the then
ecretary,it cannot avail in the. ca<e now before us, because
the agent selected by the present secretary is the Commercial
bank at Porttmoulk, the very place where the branch bunk ol
the United States is established. But whatever may have been
the object of this part of Ihe correspondence;, the rest of the
letter of the commissioner waives all further discussion of the
subject, revokes the order for the change of the agrm-y and
directs the branch bank of the U. States to resume its duties.
Two years afterwards there was a similar attempt"with a view
to accommodate the pensioners," again; and a transfer was nc-
tually made of a considerable part of the pension list from the
office ht New York to the Mechanics' and Farmers' bank in the
city of Albany. The ba,,k of the i;,,ii,.,| stales slrotHy remon-
trated ayamst the measure as illegal and unwarrantable. A
change of the heads of departments having occurred alter the
alurntinn of ih agnncy, the bunk appealed to the present head of
I)* d<iprtinl of war, in a letter dated the 10th of Anguit 1831

and the subject was held under advisement by that officer until
the Ut of March, 1832, aperiod of more than six months, at the
expiration of which the secretary writes to the president of the
Itank, as before stated, his etiliie satisfaction, from a careful
examination of the l.iws of congress, that the department is not
warranted in appointing a pension agent. "Hence," says the
secretary, "the agent at Albany has been notified that his ap-
pointment, by this department, has from this day ceastd." And
so the matter ended.

This opinion of the secretary is approved and adopted by the
committee. It was formed in the spirit which should direct
all the operation* of a government recognising nothing arbitrary
or oprressive in its character, and we think that the retraction
of error, when thus convinced of it, after taking due delibera-
tion, was honorable as well as just in the officer. To support
him in the result at which he had arrived, he saw among the
acts of congress, which he professes carefully to have examin-
ed, that an act of congress had been at all times held necessary
to create a new pension agency; in pursuance of this construc-
tion, on the 3d of March, 1819, an act passed by which the se-
cretary of war was authorised to appoint an agent, in addition
to one already appointed in the state of Tennessee, for the pur-
pose of paying pensioners of the United States residing in East
Tennessee:" that, again, on the 20th of May, 1826, the secretary
of war was "authorised to establish a pension agency at Pitts-
burgh, in the state of Pennsylvania, for the payment of pen-
sioners of the United States, resident in that vicinity;" and that
the secretary of the treasury was, by the same act authorised to
make the necessary arrangement with the bank of the United
States for paying the before mentioned pensioners at the office
of discount and depositc of said bank at Pittsburgh. He knew
that the secretary of war could not exercise the power of ap-
pointing such agents as his own deputies; that he was not the
paymaster of pensions; and that long before the charter of the
bank, while the agency remained in the hands of the commis-
sioners of loans, congress found it necessary, by the act of the
7th January, 1809, to give even him authority to act as agent in
a few cases, by enacting "that every pension, or arrearage of
pension due to every officer or soldier residing in either of the
United States or the territories thereof in which there has not
been appointed an agent for the payment of pensions, shall be
paid at ;he seat of the government of the United States by the
secretary for the war department, and that the name of the
pensioner shall, on his application to the secretary of war, be
transferred from the books of the state in which it was original-
ly registered, to a register to be opened for that purpose at the
war office of the United Slates," the act of congress of the 24th
of April, 1816, authorising the secretary of war to appoint pen-
sion agents where there was no commissioner of loans, was
also before him, to satisfy him that, as well before as after the
bank had assumed the agency, no such agent could be created
by the head of his department. He took no distinction between
the act of the 15th of May, 1828, and any other pension law of
this government; but, with a full knowledge of all the views of
his predecessors, with all the books and accounts of his office
before him, exhibiting the construction which had ever been
given to the duties of the bank xvith the aid ofall the learning
of the then attorney general, if he choose to put it in requisi-
tion, he concurred in the result at which Mr. Binney, Mr. Sear-
geant and Mr. Mason, had before arrived that new pension
agents could not be appointed by the department, except in the
single class of cases in which such appointments were expressly
authorised by the act of 1816.

As to the expediency of the law, which was thus considered
settled by the secretary, whether we consider the importance
of a permanent establishment of such an agency in reference to
the chief object of its creation, which was the payment of pen-
sioners in a sound currency, without charge to the government;
or, in reference to the limitation it was supposed to have fixed
for the exercise of executive power over this portion of the
public treasure, we are convinced that it was such as highly to
recommend it in its origin, and that it is yet such as to forbid
any chanae of its provisions. At the time of the passage of the
act of the 3d of March, 1817, the government incurred great ex-
pense in the payment of salaries and clerk hire, appertaining to
the commissioners of loans. The bank having assumed the
duties of those officers, without charge on ihe treasury for their
performance, incurred a responsibility, the neglect or refusal to
meet which subjected it to all the penal consequences of a vio-
lation of its charter. The pension aecncy is a duty imposed on
the institution, onerous and expensive, which the" president of
the bank now informs us it is willing to he digchar-ed from if
congress Ihe creator ofthat agency, v\ ill r<-|,-ae it; and that it if
a burden, nnd not a mere henefil to the instiiiition, is -atisfnctori-
ly established not only by his declaration*, but by Hie concur-
rent testimony of several of the local banks to wh'if-h the public
deposited have hfcn recently removed. Tliii* Inn 'president of
the. Mechanics' hank at New York, in his Idler to the rninini*-
Moner of thr 27lh of January last, complains: "The ngency at
I learn, is exceedingly complicated in its details, required c'on-
ildorable office room, the employment of at least three clerk*
Which mn<t nece^nrily involve n- in a very roriT-i.l.r,il,ln extra
exprn-e. Why this bank should have bee,,' -, .|,. f . t ,.,| |,, perform
tin - sei vi. -e, whilst the other selected hniiks |, l!r e nrr- exempt
from the responsibility, labor nnd expens-e, i? u matter of KorriB
mrprise, particularly whan it u Unmvn tlmt we have not hither-
to had a (Inn prorimlkin of the public ilepnujtim. Havlnz as-
sented, howi-vrt, in our agrccmout with Dm treasury, to pet-

NILES' REGISTER MARCH i, 1834 DEPOSITES FOR PENSIONS,

form the duties incidental to the agency, we cannot or course
abject to the execution of those duties, but must, at the same
time, be permitted to say that an agency involving such great
responsibility, arduous duties, and heavy expenses, should be
borne in common by the three banks; or, it' this should be con
sulered impracticable, that the other two should at least bear a
pro rata poilion of the expenses."

In several instances presented by the correspondence between
the commissioner of pensions and the presidents of tin- -t.itr
banks, which have been recently selected as bunks of drposile,
those officers hiivt: declined Ihe agency, or refused to uive bond
for the performance of the duties. In some cases the loml
banking corporations are themselves made executive agents;
the presidents of banks are selected, without any accountability
on the part of the banks over which they preside. For the per-
formance of this trust, before the change was wade, the whole
capital of the bank of the United States was bound to this go
vernment. The institution, by long practice, had become expert
in the conduct of all the complicated details of the trust confid-
ed to it. It had reduced the whole business of the agency to a
system which alike secured the interests of the government,
and the pensioners, and its own stockholders. "We have no
"evidence" says the commissioner, in a letter from the pension
office to the president of the Girard bank in Philadelphia, of the
24th of February last, "that the United States bank has ever lost
a cent by paying pensions, although that institution and its
branches have disbursed large sums for this office for seventeen
years past." And while the bank was so well managing this
interest for its own stockholders, we have never heard that, at
any time, the government found fault with its accounts, or that
any revolutionary soldier, or other pensioner on the lists, was
turned from its doors without receiving in hard dollars, or their
full equivalent in value, the whole amount of the intended
bounty of his country, unless the executive department had
previously interfered to arrest the performance of the duties of
the corporation. In the judgment of your committee, this trust,
for the performance of which the honor, faith and best feelings
of the country are enlisted, cannot be as well discharged by in-
dividual agents, or by state institutions, which owe no respon-
sibility to this government, and which, finding no source of
profit in the pension fund, already view it, and may soon treat
it, as an incumhrance. Should they be all equally faithful with
the bank of the United States, can it be expected that fifteen
new agents, acting independently of each other, can be equally
skilful? Is it to be anticipated that they will all adopt the same
guards, both for public and private security? pursue the same
mode of accounting and transacting the business which has
been perfected by the bank of the United States after seventeen
years' experience? or maintain any one general system what-
ever, to attain the same objects? We think that as, by the new
arrangement different agents are selected to pay the pensions
under the act of the 7th of June, 183-2, and as the bank of the
United States is still to pay all pensions allowed by laws an-
terior to that date, there will be no longer any one system pre-
served in the pension agency of the government, and that the
confusion incident to this slate of things will be an evil much to
be regretted. We think, too, that, should congress sanction
the changes which have been made, it is by no means withou
the range of probability that, at no very distant period, and a
some one of the numerous agencies recently created, those
gallant defender? of their country, who have attracted the prcsi
dent's sympathies in the message before us, may sometimes re-
ceive their allowance in depreciated currency. In the opinion
of the committee, therefore, however willing the bank of the
United States may be to relinquish this agency by the permis
sion of congress, the object for which the trust was estnblishec
requires that it should not be permitted to discharge itself from
the obligations it incurred by the assumption of that trust. The
policy of that limitation of the executive power over this por
lion of the public treasure, which was acknowledged by the se
cretary of war, as we have stated it, is to the committee no
less apparent. The permanent appointment of an agent, no
subject to removal at executive discretion, is important to se
cure a steady and punctual payment of the money upon whicl
many of the pensioners depend for actual subsistence. To sub
ject them to the inconvenience and loss arising from a changi
of the agency at every revolution of the political wheel, wouli
be not only to embarrass and distress those who should mee
with no obstacles in the receipt of the meed of their patriotism
but to add another stream to the swollen current of powe
which already threatens to deluge and destroy the best interest
of the country.

The committee might here have rested on the secretary's ow
view of the subject, but for the reasoning of the attorney gent
ral, contained in the opinion accompanying the president'
message. This opinion appears to have been given, at the re
quest of the president, one month after the order issued froi
the department of war. Thus called upon either to justify c
condemn a measure of the administration which had been pre
viously adopted, the arguments of the attorney general do no
teem to us to concur with that view of the powers of the de
partment of war which the secretary himself had formerl
taken.

He introduces his principal argument with the assertion lha
all the pension laws up to the 3d of March, 1817, provided on
for invalids; that the act of the 18th March, 1818, which autho
rised the payment of pensions to certain indigent officers an
soldiers of the revolution, declared that they should be paid "'

he same manner as pensions to invalids, who had been placed
n the pension list, were then paid;" that similar clauses have
een inserted in the various pension acts since passed; and be
elinctly admits that the payment* under all those acts are to
e made through the agency ol the bank, except 10 far at con-
ress shall have au\horised, by special lawn, me employment of
her agents. Fie tlu.ii denies to the act* of 1826 and 1832, the
mracter of pension law;-; on which last (IOMIKIM his chief ar-
ument is rested. Before we proceed to examine this, we will
otice the lemarkx with which it was thus introduced, and the
ilerenci'S which the rcasoner intended, ad we pieaume, should

drawn from them.

It is not true that all the pension laws up to the 3d of March,
817, provided only lor invalids; because, among other law*
Inch infill be mentioned, the first suction of the act of the
6th of April, 1816, directing half pay for five years, for the wi-
<>ws and children of officers and soldiers who died in the ser-
ice during the last war, is not a law providing only for inva-
ds. This act, which, it is to he observed, does not designate
le agent to pay the pensions allowed by the section referred
o, was extended by the act of the 3d ol March, 1817, to the wi-
ows and children of the soldiers ol the militia, volunteers,
Tiigers and sea-fencibles. The second section of the act of
6lh of April, 1816, providing half pay for five years to the chil-
ren of such as died in service in the last war on the relinqnish-
icnt of bounty lauds, directs "the payment thereof to be made
vhen and where other military pensions are or shall be paid."
t will be seen, then, that the argument which would exclude
om the agency of the bank all pensioners except invalids, and
tose who are by express act to be paid in the same manner a*
ivalids, would have excluded pensioners under the first sec-
ions of the act of the 16lh of April, 1816, and of the act to
mend that act, passed on the 3d of March, 1817. But the
gency of the bank was always extended to them. They were
ndisputnhly entitled to the character of pension laws, the pay-
ments under which, by the admissions of the attorney general,
nust be made through the agency of the bank, except so far as
ongress shall have authorised, by special laws, the employ-
lent of other agents. The committee do not consider the
>ank as deriving its agency under the pension act of the 18th of
March, 1818, or any other act, from the mere direction that
layment shall be made "in the same manner as pensions to in-
valids are now paid." The mode of payment might well be,
and, indeed, frequently is, prescribed in an act recognising the
existence of an established paymaster. Had there been no
other authority from congress than is to be found in this clause,
o constitute the agency of the bank, the secretary, so far from
admitting, as he did'on the first of March, 1832, that the depart-
nent was not warranted in appointing a pension agent where
he bank or one of its branches was established, would proba-
bly have informed the president of the bank that different
agents could pay the pensioners "in the same manner," and
hat the new mode of paying invalids could be as strictly ob-
ierved by the Mechanics' and Farmers' bank at Albany, as by
the branch bank of the United Slates there established.

The committee is now prepared to examine the principal ar-
_jument advanced by the attorney general, and most relied upon
jy him to justify the order of the secretary. He maintains that
the acl of the loth of May, 1828, "for the relief of certain offi-
cers and soldiers of the army of the revolution," and the sup-
plement thereto of the 7th of June, 1832, are not pension laws;
[hat they have no connexion whatever with the general system
of pension laws, but are the commencement of another, and an
entirely different system. He asserts that these aie laws in
which the "pay" mentioned is to be understood as contradis-
tinguished from "pensions" and which carefully avoid any such
expression as might connect them with the system of pensions.

The committee have investigated this question, and they find
that both houses of congress, the president, the secretary him-
self, the commissioner of pension?, the secretary of the treasu-
ry, and indeed every department of the government, having oc-
casion to administer or to refer to these acts, have, from their
very origin, invariably treated them as pension laws, until the
present controversy arose; while the committee do also find the
character of pension acts indelibly impressed on the laws them-
selves by the hands that framed them.

By reference to the history of the debates at the time of the
passage of these law?, it appears that each of them was advo-
cated and opposed in both houses of congress as pension laws.
In principle, these pensions are founded on the same revolu-
tionary services with those conferred by the act of 1818, which
is admitted to be a pension law. The acts of 1828 and 1832
both contain a perpetual appropriation, but it seems that spe-
cial appropriations to meet the expenses of the net of 1^-JS,
were annually marie and continued until the year 1833, a mi that
each of these appropriations is for "revolutionary pensions."
By the act of the 12th of February, 1828, there was appropriat-
ed "for the revolutionary pensioners of the United States."
(meaning those embraced by the art of 1818) $564.236. The
pension act of 1828 having passed on the 15th of May, a new
appropriation to inert theVxpenses innirrrd by it was made on
the 24lh of May, for ihe prn-ions to the revolutionary pension-
ers of the United States. ,f.-JOO.OOO." The appropriation of the
2d of March, 1W3. r i-oi'i.isfs the claimants under both the
acts of 182S and 1832, as pensioners, in tho followins words:
"For the revolutionary pensioners under the several acts prior
to that of 7th June, 1832, $624,685." The same appropriation
act of 1833, which, rt is to be observed, was patted at the -

14 N1L1S' REGISTER MARCH I, 1834 DEPOS1TES FOR PENSIONS.

cond session of the 22d congress, and by the framers of the act
of 1832, whose cOtemporaneous exposition of that law ought to
have some weight in deciding on its character, contains another
appropriation in the following words: "For additional tempora-
ry clerk hire during the years 1832 and 1833, iu order to carry
into effect the act of 7th June, 1832,ran/in revolutionary men-
tions, $24,039."

At the same session, and on the same day, a joint resolution
was passed by both houses in relation to the act of the 7tl*
June, 1832, which ordains that, "in the execution of that act,
whenever it shall be made to appear that any applicant for a
pension under said act entered the army of the revolution in
pursuance of a contract with the government made previous to
the llth of April, 1783, and continual in service until after that
period, it shall be the duty of the secretary of war to compute
the period of any such applicant's service from the time he
thus entered the army, and until the date of the definitive trea-
ty of peace, and to allow him a pension accordingly." If it be
insisted that the very congress which made the law misunder-
stood its character, let us next inquire how the president him-
self has always understood it until his recent message. The
act of the 2d March, 1833, provides "that a commissioner of
pensions shall be appointed by the president arid senate. He
shall execute, under the directions of the secretary of war, such
duties in relation to the various pension laws as may be prescrib-
fd by the president of the United States." It appears by the
statement of the attorney general that, immediately after the
passage of the law of 1832, the president assigned the execu-
tion of it to the commissioner of pensions, to whom the same
duty has been ever since prescribed by the president. The pre-
fiident must, therefore, have always regarded this act as a pen-
sion law. If it be not of this character the order to the com-
missioner of the 2d of January, 1834, is illegal, as the president
was only authorised by it to prescribe the duties of the com-
missioner "in relation to pension laws."

The president signed and approved both the act and the joint
resolution of the 2d of March, 1833, before referred to, in which
this act of June 7, 1832, is over and over again characterized as
a pension law in express terms. We know that his message
now expresses his entire concurrence in the views of the attor-
uey general, but may he not be understood as referring rather
to that officer's general conclusions than to all his particular
arguments? We incline to that interpretation of the message
in reference to this part of the subject, mote especially because
we find that nearly all the members of his cabinet, as well as
the commissioner of pensions, have always styled and treated
this act of the 7th June, 1832, as a pension law. To begin with
the secretary of war, under whose direction the commissioner
of pensions has always acted in execution of the duties in rela-
tion to this law prescribed by the president. In the close of his
annual report of the 29th November, 1833, accompanying the
president's message, and which we presume must have met
the approbation of the president, he states, "there have been
presented for allowance under the PENSION ACT of June 7, 1832,
thirty thousand six hundred claims. The whole of these have
been examined, and either admitted, rejected or returned to the
parties for supplementary action." * * * "It is creditable
to the industry and efficiency of the pension office that such a
mass of business should have been performed within the period
which has elapsed since the passage of the above law."

The secretary, in a letter to the commissioner, dated Nov.
2d, 1832, observes, ''on consultation with the attorney general,
I have decided, that the probate courts of Vermont are courts
of record, within the meaning of the regulations prescribed by
the department for carrying into effect the act of June 7th, 1832,
granting revolutionary pensions." In another letter to the same
officer, dated February 21st, 1833, the claim under this act is again
characterized as a pension. The present secretary of the trea-
sury, in his report on the finances of the 17th of December last,
page 5th, described these claims as "revolutionary pensions un-
der the act of the 7th of June, 1832." In his account of the ex-
penditures for 1833, they are included, with all others of the
same character, under the designation of "pensions." The pre-
Benlnecretary of state, when secretary of the treasury, in his ac-
count of the expenditures for 1832, describes them as "revolu-
tionary pensions per act of seventh of June, 1832." The com-
missioner of pensions, in nig report of the 27th of November
last, <>ives us a "statement showing the number of persons that
have been placed on the pension roll of the different states and
territories under the act of June 7th, 1832;" also, "a statement
showing the number of persons who have died since making
application for pension* under the act of June 7th, 1832;" also,
a "statement showing the number of persons who have applied
for pension* under the act of June "III, 1832;" also, "a state
tnenl showing the number who have relinquished their pen-
nons under the act of March 18th, 1818, and have been placed

inissioner to tin- new pension agents, the law receives the sa

It is relied upon by the executive, that the act of 1828, like
that of 1832, uses the word "pay," instead of "pension." So
does the first section of the act of April 24th, 1816, the claim-
ants under which are admitted to the benefits of the pension
agency, and have been always designated by the name of pen-
sioners. In the opinion of the committee, the use of the word
'pension" in a law is not essential to entitle it to the charac-
ter of a pension law. Whether it be or be not entitled to that
character, must depend on the general intent ofilig legislature,
as collected from all its provisions. This like other pension
laws, provides that no person receiving any annuity or pension
under a former law, shall be entitled to its benefits, "unless he
shall first relinquish his further claim to such pension." The
construction given to this by the department, may be discover-
ed in the declaration prescribed by it in order to obtain the be-
nefit of the act, in which declaration the applicant is required
to say, "he hereby relinquishes every claim whatever to a pen-
sion, except the present." Like the other pension laws, it pro-
vides that "the pay allowed by it shall not be in any way trans-
ferrable, or liable to attachment, levy or seizure, by any legal
process whatever, but shall enure wholly to the personal bene-
fit of the officer, non-comuiissioned officer, musician or soldier,
entitled to the same."

If this were regarded by congress as a law for the payment of
an actual debt by instalments, and riot a pension act, why was
the debt secured against creditors? Why should the pay enure
wholly to the personal benefit of the claimant, free and dis-
charged from the ordinary operation of the law on other men to
whom the public money is paid for a public debt? Was it ever
heard before can an instance be adduced from the annals of
congress, in which such a provision has been introduced to se-
cure any mere creditor of the government against the just
claims of his own creditors? The fact is, that, by our laws, no
pension is conferred except for services rendered. Congress
does not grant pensions to court favorites, nor mere gratuities
under any pretext. We understand the term "pension," as it
is commonly defined, "an allowance for services rendered, to
be paid at stated intervals." We are compelled to reject any
construction of the law which places the services of tlie six
months' militia man, or of the Indian spy, under the act of 1832,
above that of the regular soldier who served till the end of the
war of the revolution, and is entitled to be paid under the act
of 1818. Both are, in a peculiar sense, the creditois of the na-
tion. Both are meritorious. But the character of a debt can
surely not he conferred upon the claims of the former with
more propriety than upon those of the latter.

It is to be observed that the opinion of the attorney general
appears to be at variance, on this subject, with that of his im-
mediate predecessor, the hon. R. B. Taney, the present secre-
tary of the treasury. Mr. Taney, in his reply of the 27th of Oc-
tober, 1832, to a question proposed by the present secretary of
war, touching the execution of the act of 7th June, 1S32, says:
"It is not obligatory on the secretary of war to issue a new pen-
sion certificate when the party has pledged it for a debt, and the
creditor refuses to deliver it without payment. The law does
not require the certificate, in such a case, to be renewed, &c.
But as the law intended to prevent the pensioner from selling
or mortgaging his pension, it would defeat its obvious policy if
the creditor, by withholding his certificate, could deprive the
party of his pension, and thereby compel him to appropriate a
part of it to the payment of his debt. The act of the creditor,
therefore, ought not to prevent the payment of the pensioner;
and, if satisfactory proof is offered that the certificate is in the
hands of the creditor or any other person, and that it has been
demanded by the pensioner, and the delivery refused; and if
sufficient evidence is also adduced of the identity of the appli-
cant for the pension, I think he is entitled to payment." In the
same letter, he also says: "the act of June 7th, 1832, granting
pensions for revolutionary sen-ices, is wot confined to resideiil
American citizens. The first section gives the pension, &c.

In an opinion given by Mr. Taney to the secretary, dated
May 18tb, 1833, he observes that, "by a liberal construction of
the first section of the act of 1832, every officer who was en-
titled to a pension under the act of May 15th, 1828, would be ex-
cluded from a pension under the act of 1832. And if such a
construction were adopted, an officer who had served to the
end of the war as ensign, &c. would be excluded from a pension
under the last mentioned law. Bui, looking at the whole act
it appears that those who were on the pension list of 1828 were
not excluded, &c. The third section of the law shows that it
was not designed to exclude any of those who had pensions
under other acts of congress, where the pensions of the act of
1832 were more favorable to their interests. *****
Ifthe commissary, therefore, held no rank in the line, he would
be entitled to his pension, because lie was not provided for by
the act of 1828. * * And as, in the case you state,

the applicant was not entitled to a pension as commissar* un-
der the law of 1828, he is not excluded from a pension on ac-
count of services in that character under the act of 1832. and is
entitled to the pension as commissary upon relinuuishin" his
claim ns piisien."

Anioiii! tin- iliii-iimcnu referred to us, are the copies of two
ImiicN. which appear to have been taken from ihr am nis at
Cini-iiinati and 1'ortland, (Me.) the one diiu.d the I3ih, and tin-
other the 20th of January la>i; eaeh of which is e.\|ires.-h con
ditioned for the performance of the duties of njjfni for paving
pensions under the act of congress of June 7th, 1832. We know
not that any others have been received by the department; but

NILES' REGISTER MARCH 1, 1834 DEPOSITES FOR PENSIONS. if

tn reference to these, independently of the fact that no law e_
iats authorising the commissioner to take such securities, if the
attorney general's construction of the law be correct, the utili-
ty or value of the instruments may be questioned. We forbear
however, to express any opinion on that subject, or to swel
this report with further extracts to prove the executive con-
struction of the law. Suffice it to say, that, although the attor-
ney genaral so strongly maintains that the acts of 1828 and 1832
are to be distinguished from all pension acts, and that they ar<
not entitled to the name of pension laws, we find that no otlie
officer of this government who has had occasion to consider tin
subject, has ever adopted his construction. He may, we think,
support a claim, as the discoverer of this distinction, without a
competitor.

It remains for the committee to examine another argumen
advanced in defence of the secretary's order, founded on tin
provision in the acts of the 15th of May, 1828, and the 7th o.
June, 1832, relative to the manner of paying the pensions they
allow. The clause referred to in the first act is in thesr words
"that the pay allowed by this act shall, under the direction of
the secretary of the treasury, be paid to the officers or soldiers en-
titled thereto, or to their authorised attorney, at such places and
days as ike said secretary may direct. " The act of 1835 contains
a similar provision; and the resolution of congress of the 28th
of June, 1832, transfers to the secretary of war all the duties
which devolved upon the secretary of the treasury, by virtue ol
that act. The money appropriated by the act was, in pursuance
of this provision, drawn from the treasury by warrant, and un-
der the direction of the secretary of war, deposited in the bank
as the established pension agent of this government. It is now
contended that the secretary may of right, without the aid of
congress, change the pension agency, so far as regards the pen-
sions under this last act, from the bank which has exercised that
agency since the law was passed, or, in other words, that he
may appoint fifteen other banks or private individuals to do the
eame offices which that bank has hitherto performed. The case
presented is, that, of two agents, each appointed by congress,
the one to act under the direction of the other. But the agent
appointed to direct, claims the power to annihilate the other,
and to substitute in lieu of it fifteen new agents to do the same
duties. The committee propose to inquire from what part of
the clause in question such a power is to be derived.

Is it from the words, "the pay allowed shall, under the direc-
tion of the secretary, be paid to the person entitled thereto?"

Or is it to be found in the remaining part of the sentence,
which orders the payment to be made "at such days and places
as the secretary may direct."

It is admitted by both parties, as we have already stated, that
the agency of the bank under the laws up to the 3d of March,
1817, inclusive, can be changed only by act of congress. The
act of that date commands the bank to observe and conform to
the directions which have been, or may thereafter be, prescrib-
ed by the secretary of the treasuiy, with the approbation of the
president of the United States, touching the execution of its du-
ties as commissioner of loans. The clause in question, in the
act of June 7th, 1832, is of similar import, though it subjects the
agent in the execution of the duties to the direction of a differ-
ent executive officer. We have not heard that it was ever in-
tended that these words in the act of the 3d of March, 1817,
gave the executive such a power as is claimed for a similar
provision in the act of 7th June, 1832. The commissioners of
loans were bound to pay, under the directions of the secretary,
before the bank chailur; yet the power to abolish their agency
was never claimed by any executive, nor the power to substi-
tute a pension agent to act in conjunction with them. The se-
cretary, by the act of April 24, 1816, was authorised only to ap-
point pension agents in those states and territories "where there
is no commissioner of loans." When this act, and the other
acts before referred to, authorising him to appoint pension agents
in Pittsburgh and Tennessee, were passed, was it imagined that
any executive department had the power now claimed liy vir-
tue of the injunction to be found in our laws on all pension
agents; compelling them, in the execution of their duties, to act
under the direction of an executive officer? If these words give
such a power we see not why the agency of the commissioner
of pensions, who is, as we have seen, bound to execute his du-
ty under the direction of the secretary of war, might not be
abolished by the secretary, and fifteen other commissioners ap-
pointed by him to execute the same duties. Scarce two years
have elapsed since a bill passed the other house to authorise
the secretary to appoint a pension agent in Alabama. This bill,
we know, was defeated in the senate because it was thought to
be altogether inexpedient to interfere with the duties of the
bank. The same bill is now before congress again. Until the
order of the secretary of war was issued, its friends as well as
its enemies thought the power to change or abolish an agency
was not involved in the power to direct the agent, or to check
him in the exercise of his duties, but resided only in congress.
If we are mistaken in this if indeed the power to destroy is in-
cident to the power to direct we do not perceive why so much
of this act of the 3d of March, 1817, as abolishes the offices of
commissioners of loans was not rejected as useless by the con-
gress and president who chartered the bank; nor why the high
executive power now contended for was not exercised in that
day by the same summary mode of changing the pension agency.
The concluding part of the clause in question, which order.'
tlf payment of these pensions to be made at "such days and
plates at the seeretary may dirtet," whether considered sepa-

rately, or in connexion with the preceding part of the section,
cannot, in the judgment of the committee, be held as furnishing
any authority whatever to abolish the agency of the bank, and
substitute other agents in lieu of it. The power conferred by
these words is strictly supervisory, and that, too, of a qualified
character. The superintending agent derives authority from
these words, not appoint the person to pay, but merely to di-
rect the time and place of payment. With an existing pension
agent established by congress, and recognised ag such by the
government for more than forty years, the secretary herein is
simply authorised to fix the time and place at which it shall
act. In the case of a law ordering money to be levied and col-
lected under the direction of a court, at such times and places
as the court shall direct, no one could infer the existence of a
power in the court to remove the marshal, or to substitute ano-
ther person unknown to the laws to execute his duties. The
officer of the ministerial agent in that case being created by act
of congress, no other office could be created to supercede it, ex-
cept by the same power. When congress directs money to be
paid by the secretary of the treasury, out of any money in the
treasury not otherwise appropriated, the treasurer himself,
though not mentioned in the act of appropriation, must dis-
burse the money on a proper warrant; because, as in the case
under consideration, he is the paying agent of the government,
created by act of congress, though bound to pay under the di-
rection of a superintending officer; and in this instance, the
power to appoint twenty new treasurers might with as much
propriety be claimed for the secretary of the treasury, as the
power to make new pension agents is now claimed for the se-
cretary of war.

The distinction between places and persons is essential to a
correct understanding of the subject. The right to direct the
places where a pension shall be paid, is, as we apprehended,
perfectly consistent with the existence of an established agency
to perform that duty at that place when directed; and we hold
that the mere authority to give or countermand an order to pay,
can confer no power to destroy the paymaster, or to make a
new one. If the paying agent is, as the adverse argument pre-
supposes, a mere deputy of the secretary, removable at execu-
tive pleasure, then the millions which are directed to be dis-
bursed to pay pensions are liable to be placed in the hands
of individuals without any security; and we have already seen
how the work under this new construction of the law is pro-
gressing. We do not believe that congress has so far neglect-
ed its duty to the country. We think that the clause reserv-
ing to the secretary the right to direct the times and places of
payments is the same in substance with that to be found in
the act establishing commissioners of loans, and the act trans-
ferring their duties to the bank; in both of which it is provided
that one of the heads of departments shall direct not the agent
to execute, but merely "touching the execution of his duties."

The attorney general finds in the conduct of the bank, in re-
ference to the order of the secretary to surrender the pension
fund, a breach of trust, and a violation of duty to the govern-
ment. We think, on the contrary, that had it surrendered that
fund on such an order, without the consent of congress, it could
not have escaped the imputation of having sought a recharur
by a dereliction of its trust, arid the exhibition of a spirit of sul-
serviency to the executive will. The president, while he con-
curs in the views of the attorney general, denounces the bank
as an "irresponsible money corporation." In what sense is it
irresponsible? Its charter provides "that whenever a commit-
tee of either house of congress shall find and report, or the pre-
sident of the United States, shall have reason to believe that the
charter has been violated, it may then be lawful for congress to
direct, or the president to order, a scire. facias to be sued out,
calling on the corporation to show cause wherefore the charter
shall not be declared forfeited." The responsibility of the bank
to the president himself, as well as to congress, in case any pro-
vision in the charter has been violated, appears to us to be quite
as satisfactory as that of any officer of this government. The
17th section of the charter also provides that the corporation
shall not, at any time, refuse payment of any money received
upon deposite, and that, if it do neglect or refuse to pay on de-
mand, any money received upon deposite, to the person or per-
sons entitled to receive the same, such person shall be entitled
to recover interest on the money until the same shall be fully
paid, at the rate of twelve per cent, from the time of the de-
iiand. If the president thinks he has reason to believe that this
provision has been violated, the remedy is in his own hands,
ind it appears to us to be ample. If it were not sufficient, con-
;ress, on that fact being shown, has the power reserved by the
;harter to supply any deficiency by farther legislation. \Ve do
not understand that the ability of the bank to respond lo any
lecuniary demand upon it by the government for public dues is
juestioned; and as an engine of power, with all the guards plac-
ed around it by the charter, we think it is far less to be dreaded
than twenty stale banks, affiliated by llwir allegiance to a com-
non master, and strengthened not only by the funds of the pen-
sioners, but by all the money in the. treasury.

We are also told that the refusal of the bank to deliver over
the books and papers belonging to this agency is a still more
>alpable breach of the duly which results fiom what the altor-
,iey general terms the subordination of the agent to his princi-
iai. If the secretary, iii.-luarl of congress or the government,
were the principal, and the bank merely the secretary'* deputy,
the right of the former to the custody of Uie.e hooks and paper*
>efore a final settlement of the accounts, might well be (jues-

16 NILES' REGISTER MARCH 1, 1834 DEPOS1TES FOR- PENSIONS.

tioned by the latter. But when we repudiate; the whole doc-
trine which subjects the pension fund to be. disposed of at the
will of the executive, and acknowledge congress as the power
which created the agency, this executive pretension become
absolutely preposterous. VVe have shown that the act transfer-
ring the duties of the commissioners of loans to the bank of the
United Stales, and abolishing their officer, directs them and
the agents for military pensions, where there is no such com-
inUsioner, to deliver to the hank "the register, and all the re-
cords and papers of their respective officer," and that, "upon
the delivery of the records and papers, the office of the commis-
sioners' shall be abolished." The books and papers of the pen-
sion agents of that day were, therefore, deposited in the bank
by virtue of a positive statute, and neither the congress that
passed the bank charter, nor the president who approved it,
seems to have supposed that it could obtain them in any other
way. What was eoiididered in 1817 as no lit subject for mere
executive regulation, does not now appear otherwise to the
committee than it did to the Iramers of the charter. Without
legislative interposition, the books and papers necessary fur the
transaction of the business of the pension agent should remain
in the bunk; and neither executive denunciation, nor any mere
desire of the corporation to get rid of a troublesome and expen-
sive duty should induce it to desert the important trust which
has been confided to it by the legislature of the country.

VVe understand the attorney general as claiming for the de-
partment of war the custody of these books and papers during
the interval between the semi annual payments, even though it
should be obliged to return them again to the bank when the
day of payment shall arrive. The order of the secretary was
for a permanent and absolute transfer of the hooks and papers;
and, in justice to the directors of the bank, the committee feel
bound to say that the attempt of the attorney general to put
them in the wrong, by placing the order of the secretary, which
they have refused to obey, on the basis of a mere request for
the temporary use of the papers until the day of semi-annual
payments should return, is not warranted by the facts, and is
BO far an abandonment of the real ground of the controversy.

We cannot take leave of the opinion of the attorney general
without farther commentary on his concluding observations.
lie contends not only that the books arid papers, but the funds
also in the pension agency, may be removed for temporary pur-
poses. "They (the hooks and papers) are," says he. "exclu-
sively the property of the government." Hence he contends
that "the government" is entitled to them during the interval
between the semi-annual payments! "The same remark," he
adds, "may also be applied to the moneys of the agency, which
the government is not bound to leave on deposite in the bank,
even if it were admitted that the law has imposed on it the duty
of employing the bank to pay them out. The conduct of the
bank, regarding it in this lii;ht,and independently of every other
objection, appears to me to be wholly indefensible."

The president, in the message, says. "I add my entire con-
currence in the views he (the attorney general, in this opinion)
has taken."

What is meant by "the government?" If this expression
here has any meaning, it is confined to the executive depart-
ment alone. No other branch of the government had any thins
to do with the change of the pension agency; and in a spirit of
candor towards the officer who made this report at the request
of the president, we have combatted his argument as wo felt
bound to consider he intended it should be understood. We
have, therefore, answered his reasoning in relation to the books
and papers of the agency as if he had said that the executive or
the department of war was entitled to their custody. But this
ia not the "government." Ours u a government of laws. To
say that the president and congress can, only by law, reclaim
the agency; that none but the government, in the proper signi-
fication of the ward, ia entitled to the books and papers, as well
ns the funds in the hands of the agent it has created, when it
may demand them, according to the forms of law, is to say just
what we have contended for, and to admit what we understand
the attorney cc.ncral to deny. If the attorney general supposes
that the president is the government, or that any executive de-
partment is the government of this country, it is time that his
reading of the constitution should be examined, especially by
congress.

The power to remove the public deposites from the hank has
never been confided to the secretary of war. The bank charter
enacts that the depnsites shall remain in the brink, unless the
secretary of the treasury shall otherwise direct. The duties of
tho latter, under the act of the 7th of June, 1832, which devolv-
ed on the former officer by virtue of the joint resolution of the
28th of June, 1833, do not embrace the superintendence of the
system of finance, but the direction of the times and places of
paying one class of pi iisioners. When the secretary of the
treasury shall direct the. surrender of these funds, after his war-
rant for ihrm has been once issued with all tin; forms of law;
after they have been paid out of the treasury on that warrant
Into the bank, nmi there placed loth* credit of the pension.fund,
it will be lime to consider whether hia direction ought to be
obey. i|, and whenever it shall he decidrd by the sccict.-iry m
tin-. tn-ii, wry lh;ii tin; pension fund is still in' the treasury, and
he ,-ti.i!! niirmjil to make pension agencies for congress, that
bod) will .r.niitle-s nivis tin; proper attention to the subject.
But if ihe pnwer is IHIW el.iimi-,1 to be in the- secretary of war
(in viuue of his right to dirert the pension agent) to put the
pension fund m )ii. pocket when he pleases, or, during the in-

tervals between the semi-annual payments of pensioners, we
hid in tiic laws no warrant for Mich a pretension. The duties
ol the secretary were to be auxiliary to those of the bank in the
duty of paying pensions. Their co-ordinate powers are misun-
derstood when the former attempts to remove the latter, as his
subordinate, at pleasure, or to assume the execution of those
duties which congress has confided to the latter alone.

It appears that, in the matter which has been referred to the
committee, the bank has acted only on the defensive, and lias
done no more than is required of every trustee. It has assum-
ed no attitude which ought to be considered as offensive to any
department of the government, but it has been faithful toils
trust. In this country every man must exercise his own judg-
ment in matters touching his rights and duties. This is inci-
dent to his right ol self-defence. Had the president demanded
of the bank their banking house in Washington as a suitable
place for the treasury department, after the late conflagration of
the treasury buildings, might not the bank have decided against
the application without being censured for "sitting in judgment
pon the legality of the acts of the constituted authorities?"
May not the opinion of the corporation upon the construction
of any law differ from that of the executive officers of the Unit-
ed States? The citizens who subscribed for slock in lliis bank
have not thereby lost the right to sit in judgment, in this sense,
on the acts and conductor any man or set of men in this nation,
who, in their honest judgment, may invade their privileges, or
seek to deprive them of an opportunity of discharging their du-
ties. The case of a corporation is like that of every individual
in this respect. The president has no right to take private pro-
perty for public use from any man without his consent, or the
consent of his representatives, and compensation to him. Now,
if the president demands the land of a citizen for a light house,
or any other public work, may not the owner consider and de-
cide for himself the question of title, without being reproached
for a "usurpation of the judicial power?" Must he who says to
an executive officer, "I contend for my property, and have de-
cided that, before I surrender to you what I believe to be mine,
I will defend myself in the courts of law," be therefore denounc-
ed as usurping judicial power? The bank has done no more to
occasion such a denunciation. It has respectfully considered,
and fully replied to the executive mandate. Its answer is, th:it
it considers itself bound by the laws of congress not to surren-
der the pension agency without the consent of congress. It
professes its perfect willingness to yield the trust if congress
will release it. Without that release, it must, in self-defence,
abide a suit in the court, if the executive choose to go to law.
It has not relied alone on its own judgment. In doubt of its
own opinion, it has loft the question to eminent counsel, and,
in perfect frankness, it lias communicated to the executive offi-
cer their views and arguments. This is what the president
terms "usurping judicial power," and prescribing to ihe execu-
tive department the manner in which it shall execute the tru.t
confided to it by law. This is called "checking and controlling
the acts of the public servants by an irresponsible money-cor-
poration;" and we are gravely told that, if this be tolerated,
"Ihe whole frame of our government is changed, and we have
established a power in the bank above what we derive from the
people." It appears to the committee that the executive in this
case assumes to itself the judicial power, for the very reason
that it denies to the bank the right to inquire into its duties. It
sets up a claim which it will not suffer the bank to deny or
doubt. It demands an immediate surrender on its own judg-
ment, and necessarily refuses to the agent of the government
the right to invoke the decision of the court for its protection.
Such pretensions are new in the history of executive power in
this nation. They are unsuited to the genius of the government
under which we live; and wherever they shall so prevail, that
an American citizen shall not dare to dispute with an executive
officer upon any question touching his right to either property,
character or liberty, then indeed, in the language of the presi-
dent, "the whole frame of our government will be changed."
and, no matter what may be its name, it will be a hateful des-
potism.

The president complains that the pensioners will suffer by
the conduct of the bank. From a pnrt of the correspondence
submitted to us, it would appear that the new pension nstMiu
have, in some instances at least, been paying their claims, lint
if they are indeed sufferers, if delays and embarrassments have
been incurred by the gallant defenders of their country in the
receipt of the debt which the gratitude of the nation has award-
ed to them, and which, in many instance.-:, is necessary for their
subsistence and comfort in their declining years, it is plain that
nil those delays and embarrassments have hern occasioned (sole-
ly by an illegal order emanating from the executive, and com-
manding ihr. hank "to cease paying the pensions." The best
mode of exhibiting exerniive sympathy for the soldiers of the
revolution is not in publicly deploring their unhappy fp.te nml
their distressed condition, but in rescinding the order which
prohibits the bank from paying them their dues. Until this be
done, the committee is compelled to acquit the bank, when
thus arraigned before them on a charge of cruelty to the revolu-
tionary soldiers.

In conclusion the committee recommend for the adoption of
the senate, the following resolution, and pray to be discharged]
from HIP further consideration of the subject:

Resolved, That tho department of war is not warranted in np-
poinlinc pension agents in any state or territory where the bank
of the United State* or one of its branches has been eftabl'whed.

FOURTH SERIES. N. 2 VOL. X.] BALTIMORE, MARCH 8, 1834. [VOL. XLVI. WHOLE No. 1,172.

THE PAST THE PRESENT FOR THE FUTURE.

EDITED, PRINTED AND PUBLISHED BT U. NILES, AT $5 PKR ANNUM, PAYABLE IN ADYANCE.

It is a long time since when we said any thing to our
friends about the snwll money matters between them and
us and we would not now be importunate; but a valua-
ble favor might be conferred, if those to whom the pay-
ment of our little demands, now or a short time hence, is
unimportant, would promptly recollect and relieve us.

The brief speech of Mr. Heath, our own immediate
representative in congress, on presenting the Baltimore
memorial praying for a restoration of the public depo-
sites, is inserted iu a subsequent page. Mr. H. has fully
realized, in all his proceedings, and in this matter espe-
cially, the just expectations of those who supported him;
and he is, besides, a very industrious and attentive mem-
ber in the house, and also to the private business and lo-
cal affairs of his constituents.

The following, from a Philadelphia paper, though not
exactly in our way because of its personally political
bearing, is such a "good thing" that we give it a place.
It is genutoinely "salted," as major Downing would say.

"Mr. Heath, of Maryland, made some remarks, in the course
of which, he stated that he was a Jackson man; that he had
supported the administration, but that he was not a "collar
man." The speaker called him to order. Mr. W hittlesey, of
Ohio, who is not only a sensible, but a pleasant, sarcastic man,
remarked, in an under tone, 'that the speaker was determined
not to have any stray horses running about here, without collars
on, and therefore stopped Mr. Heath.' "

We give accounts of two meetings about the bank and
the deposites, &c. of very different character, which it
seemed necessary to make room for in the REGISTER
one held at Tammany hall, New York, and the other in
Monument square, Baltimore; and in the proceedings of
each there is much matter for reflection.

A retirement from such publications, and pretty full
notices of other matters connected with the proceedings
had in this season of excitement, cannot be promised,
and the report and counter report of the committee of
ways and means of the house of representatives of the
United States, and such like papers, must obtain room;
and other articles will be presented over which we shall
not have any sort of discretion; but we. are really wearied
and worn-out by the pressure of such things, which bears
as hard upon our pages, as the pressure caused by the re-
moval of the deposites bears upon our means to print
them! and the misery is, that, in neither case, is there
a present prospect of relief to cheer us. But with regard
to the REGISTER, itself, we know that its utility is reduc-
ed, in the consequent neglect of other important things
which ought to be recorded, and which all persons will,
hereafter, expect to find preserved in it.

We have a copy of the report of the committee of the
mechanics, &c. of New York, giving an account of their
visit to Washington and interview with the president,
and also of the proceedings of a great meeting of the
people held at Philadelphia on Tuesday last, at which
earnest resolutions, Sic. were passed in support of tin-
president and his measures, in relation to the bank. We
cannot give either.

Courage and perseverance have various qualities; and
ane of the greatest exertions of them is for a member of
congress, to rise in his place, and expel the audience,
and then whip out the members themselves, in "less than
no time," as major Downing sayg.

THE CURRENCY, &C. BRIEF NOTICES.

The banks of Pittsburgh have resolved not to receive
the notes of the Ohio banks.

A bill has passed both houses of the legislature of Ken-
tucky establishing a state bank.

The bank of Louisville, Kentucky, one of the new de-
posite banks, has refused to receive further deposites on
VOL. XLVI-Sio. 2.

account of the United States, and deposited with the
branch of the bank of the United States in that city, all
the public money or effects in possession, to be paid over
as a "special" concern, when demanded.

The Columbia (Pa.) Spy of Saturday says: "We un-
derstaiid that orders have been received to' stop all work
on the second track of the railway between this place and
Philadelphia."

The "New York Commercial Advertiser" of the 1st
inst. had the following bank note table

A considerable improvement has taken place this day.
The Eastern bank notes are redeemed at ^ per cent, dis-
count. JVew York, city notes, par. Long Island, do.
Dutcliess and Poughkeepsie, do. Hudson River, do.
Other River notes, including West Chester, per cent.
Albany, Troy, Lansingburgh and Schenectady, percent.
All others, west of Albany, per cent. JVVw Jersey, %
a 1 percent. Pennsylvania, l a 2 per cent. J)elaivare T
2. Maryland, 1 a 1^. District oj Columbia, l. Vir-
ginia, 2J. JVurth and South Carolina, 2. Georgia, S
a 5. Ohio, Cleaveland, 1^. G'. auga, 3; all others 5.
Michigan, l. Canada, 3 a 6 per cent.

[The rates in Baltimore, as to eastern money, are much-
higher. Bills of the New England banks average 2 per
cent, and those of New York, except of the city banks,
from 2^ to 3 per cent, discount and so of others. Those
of the District, and of Virginia, are at a lower rate.]

By the direction of a majority of the stockholders, the
Western bank of Philadelphia, has petitioned congress
for a restoration of the public deposites to the bank of
the United Stales.

The price of wheat at Le Roy, N. Y. is "five shil-
lings," or 62J cents. It was recently one dollar. At
Genesseo wheat is said to have "no price." At Zaue>-
ville, O. the price of wheat is reported at 57 cents, and
flour at Wheeling $2 30.

Several new banks have just been incorporated in New
Jersey.

The Harrisburgh Chronicle of Monday says, "two bids
are now before the governor, for the temporary and per-
manent state loans, but neither of them will be accepted
before the 25th of this month as the time for receiving
proposals is extended to that date.

Since the above was in type, we have understood that
one of the bids is for $100,000 the other for $729,000,
being the whole of the balance of the permanent loan of
1853."

The money market, we are sorry to say, becomes "hard-
er and harder," though the bank of the U. S. has much
extended its line of discounts at several places,* and has
a circulation of nearly two millions more than it had at
this time last year the removal of the deposites to the
contrary notwithstanding. Why then is not the market
made easy ? Confidence is Taunting; and confidence is
the life of a free circulation of money. We shall not re-
capitulate the unpleasant things before us. The distress
so much spoken of is now reaching the "working men."
Due bills are issued at many of our large manufacturing
establishments, and the desire to build nouses seems al-
most totally suppressed, in an inability to pay the cost of
their erection, in all our chief cities and towns. Thou-
sands of persons are yet at work because- of the indisposi-
tion of their employers to discharge them, though the
latter would be gladly relieved of them, at this time.

ITF.">rS OR BRIEF NOTICES.

Gov. Jireathitt, of Kentucky, is deceased. Lieutenant
gov. Atorehefjd(wb\\ ad.) takes his place.

It will be seen that ex-governor Lintoln has taken his
seat in the house, in the place of Mr. Davis, (now gov.
of Massachusetts) resigned and Benjamin Watkins
Leigh, his place in the senate, vice Mr. Rives, resigned 1 .

*The Boston Transcript states that the branch bank discount -
ed three hundred thousand dollars on Wednesday last week.

18 NILES' REGISTER MARCH 8, 1834 A BANK OF THE UNITED STATES.

The "Albany Daily Advertiser" gives the unwelcome
report, that some of the Ohio banks have stopped specie
payments, and that others were "tottering. " We would
hope it is not true.

But that the distress which has not yet, as we fear,
nearly reached its extent on the sea-board, will reach the
interior, must be expected. One thing is certain the
present stale of things cannot endure much longer. There
must be a restoration of confidence a general ruin of
business men, or a "rag currency," with some few ex-
ceptions.

Flour at Cincinnati, Feb. 25 3 dollars. Wheat at
Syracuse, X. Y. 62^ cents. Cotton at Mobile, from "^
to 11 cents. Eastern bank notes, at Baltimore, 2 per
cent, discount. New York (country) A per cent. The
bills of several of the southern banks are at 28 per cent,
in New-York.

The draughts of the U. States officers at St. Louis, on
the treasury at Washington, have been returned protested.

It is broadly insinuated, that the Pennsylvania state
loan, has really been offered for ($300,000 in part), by
the use of moneys belonging to the U. States, through
the Girard bank! We are not prepared to believe this.

The nominations of Mr. Livingston as our minister to
France; of Mr. T. P. Barton to be secretary to the same
legation; of Mr. .-2. Middieton,\r.\.o be secretary of the
legation of the United States at Madrid; of/. S. Cabot to
he commissioner under the Neapolitan treaty; of R. JW.
Saunders to be commissioner under the French treaty;
of J. IF. Overtoil to be secretary to the commission un-
der the Neapolitan treaty, and" of Alexander Hunter,
as marshal of the District of Columbia, vice Ashton, de-
ceased, have been lately confirmed by the senate.

We have many other such like items before us but
cannot make room for them.

To the editor of the Baltimore Gazette.

DEAR SIR A writer in the "Baltimore Gazette" (J.
S. ) a few days ago, had the following paragraph:

"If there was any tiling wanting sir, to show that the
opposition to the president in this matter at least among
some of the most prominent leaders of it was the result
of mere party animosity, and a disposition to oppose and
embarrass him by every means it might be found in the
speeches and writings of those very men, (who are the
most clamorous now), in former times, in relation to a
similar institution. In fact you might with some plausi-
bilitv charge the president and his friends with having
borrowed their arguments and views against the present
United States bank, from those very documents to which
I refer. In proof of what I state, I am sure it is not
necessary for me to bring to your view the speeches and
votes and writings in former times, of such men as Clay,
Webster and H. Niles, on the subject men who are
avowedly among the leaders of the bank party at the pre-
sent moment."

Similar things, and in a much more exceptionable
manner, have oftentimes been said of "H. Niles" but
their source was from a quarter that I could not descend to
notice.

It is a most unfortunate event that politics, properly so
called, ever entered into so delicate and profound a matter
as the currency of the country. Why such "two-penny"
considerations as the interest of office-holders, and as-
pirants for offices of profit and of honor, should have in-
fluence over this subject or by whom they were intro-
duced, it is not important now to examine: but that even
personally political considerations have a powerful in-
fluence over it, is not to be questioned.* To bring about
this state of things 1 have not, knowingly, had the least
concern. But thus it was in relation to internal improve-
ments and the protection of American industry these,
too, were furiously forced into petty political interests and
passions. How do the POLITICS of Pennsylvania, for a
remarkable instance, stand with her hitherto nearly nna-

mClllUt.l*. CAt.l.|Jb u* A%-fBVM, Hl WVUUFU 7IUIT IIUV1M

of the deposits, wat tUe question submitted to them

ninwus support of internal improvements, a protecting
tarifi", and the bank of the United States, all which were
lately considered, and openly avowed, as "PENNSYL-
VANIA MEASURES,"and by all parties in that state?
And how stands the case now? These things are only
hinted at. They deserve the presentation of a body of
official facts, with remarks, that I have not time to collect
and arrange at present. But will simply ask has not a
turn of the party-wheel almost capsized what all men
regarded as essential principles in the policy of the great
state just named?

For myself, however, I throw back on the writer of
the communication in the "Gazette," the imputation that
party, in its present phases, had the shadow of an in-
fluence over my conduct, in either of these great points '
for 1 was earnestly the friend of each, (qualified, as I still
am, with regard to the last), before the slightest suspicion
was entertained that gen. Jackson stood opposed to either;
and up to the very hour of his vetoes on two of them, a
large majority of his most earnest friends, in the middle
and western states, entirely believed that he would re-
spect the "policy of Pennsylvania," which had so faith-
fully supported him.

Politics, however, had much influence over the minds
of the people, as to the old bank of the United States.
They were, however, of a more generous and liberal na-
ture, and with a more manifest regard to just principles.
And that hank, whether justly or unjustly accused, was
certainly believed, (by its opponents), to have lent the
whole of its influence to party-politics; and, in those days,
1 was familiar with many apparently well-attested cases
to shew that a man's political principles were weighed
by the boards of directors, in granting accommodations;
and so, also, with some of the directors of other hanks. I
do know that the politics of "H. Niles," then an opponent
of the administration in 1800, was offered as a reason
why a note offered by him should not be discounted and
that that reason was not esteemed a good one; the re-
quisite number of directors believing that the bank had
nothing to do with the politics of the party making the
note. But as to the present bank of the United States,
who ever heard a suspicion breathed, in any manner
whatsoever, of its interference with party politics until it
was put upon its defence, by a premature attack upon it;
premature even if it was proper that its charter should
not be renewed? And, while agreeing that it has no
claim to a renewal of its charter, as a matter of right,
I must say that the uncalled-for attack upon it was,
time and circumstances being regarded, one of the most
extraordinary proceedings that I have witnessed. t It
was doing more than ''meeting evil half-way." IT ix-
TiTD EVIL; and though not, I would hope, so design-
ed by the president, placed the decision of the question
much on party grounds. And I have many reasons to
believe that this movement had its origin (not with the
president) but in local cosiderations or personal views.

An examination of these matters would require much
room, and a great deal of laboi I think that they are
capable of the clearest demonstration; but that would lead
to presentations of supposed motives of individuals, and
open a field for such discussions as have been seldom
indulged in by me. If the doctrines that relate to in-
ternal improvements, the tariff, and the bank, have been
made party matters, I am guiltless of that sin; but do
know that certain principles, as to the second especially,
which I held and supported more than thirty-Jive years
ago, have been arrayed against me as party politics of
these latter times! The reason is obvious. As persons
turn round, they sometimes suppose that a post runs
against them. This may easily happen in a state of ex-
citement.

As to the bank I admit one change of opinion, and one
only, except on that great and glorious principle by which
the "chief of sinners" is accepted 'being sanctified by re-
pentance, evidenced \ngoodieorks.

The change of opinion is as to the constitutionality of
the bank, in which 1 followed the "father of the constitu-
tion," the illustrious MABISOX, and other men of the
highest grade in the republic and also fell in with the

t I could mention the names of several of ihr present iuot
(li^tinzuishi'd fricnilr of the administration, who so regarded
the first message of Hie president in relation to it.

NILES' REGISTER MARCH 8, 1834 A BANK OF THE UNITED STATES.

doctrines of ALWAYS "DEMOCRATIC" PENNSYLVANIA, I bank was rendering most important public services to the

which, more than once, through her DEMOCRATIC legisla-
ture, has passed an unanimous, or nearly unanimous,
vote in favor of that institution, and in the most decided
terms, though once opposed to such an institution, as Un-
constitutional, &c.* May not the men alluded to, and the
"key-state" the "honest state" the" whole" ever democratic
state of Pennsylvania, save so humble an individual as H.
Niles from political condemnation on this account! But
other instances might be added, and equally remarkable,
if necessary. They are not necessary. If so, the deci-
sion of the council of Castile, that it was ''wrong to make
a certain river navigable, because that if GOD had intend-
ed it to be navigated, he would, Himself, have made it
navigable," was a just one. Is it blasphemy, as it was
once considered, to believe that the earth which we in-
habit, is a globe and not a plain? Is it the end of know-
ledge in agriculture to attach a woman and a cow to the
plough to make horses draw by their tails? or to depend
on the stars, and not on the compass, for the correct
sailing of ships? Jn htiotvledge to stand still?

The change of opinion alluded to was brought about in
a certain belief, gradually and cautiously established, of
the NECESsrrr of a national bank. The constitutional
power did not, and yet does not, clearly appear, except
in this that there must exist a p'ower to regulate the
currency and commerce of the country, so as best to
"promote the general welfare." And the necessity of a
national bank is now so apparent, that many of the old
and most able and strict construers of the constitution, are
anxious that the power to establish one should be given
by an amendment of the constitution. The good conduct
of the bank, too, since its reformation, had much influence
over my mind. I never heard of it, or saw it, or felt it,
(for many years) as an oppressor, unless in solitary cases,
perhaps, not fairly represented. On the other hand, 1
knew and felt that it was rendering most important ser-
vices in facilitating and equalising the exchanges of the
whole country, and in furnishing a circulating medium
which was more nearly at par than coin itself because
of the cost and risk of transportations of the latter, to
keep up the exchanges; and soon believed, as I still be-

lieve

up t
, that

these exchanges must be exceedingly embar-

rassed and greatly diminished, without such circulations
of values as the bank of the United States furnished, and
would yet supply, if it had only been permitted to wind
up its affairs unobstructed by the hostility of "the go-
vernment." These good opinions of the bank were the
result only of considerations of the general benefit, in

government and people, and accomplishing all the good
which its most sanguine friends had expected, without
iniquitous exertions of its great power, (which I had so
much feared, and would not re-grant in a new charter, as
shall be stated below), to produce evil, confidence was
yielded because it was deserved; and, the constitutional
objection waived for the present, if not surrendered, in
the seemingly manifest necessity of some such au estab-
lishment.

It does not appear required of me to pursue this part of
the subject any further. I opposed the bank as unconsti-
tutional, arid now believe that it is constitutional the
expediency of renewing the present act of incorporation,
however, is another affair. This change of opinion is
freely admitted. It is, perhaps, the only material one
that I have made, as to any matter of principle, though
between 50 or 40 years before the public as a free wri-
ter on polity and politics.

But I was opposed aye, violently opposed, to the bank,
on account of what I thought its bad conduct in 1818-19.
I truly belived, whether rightfully or wrongfully is no
matter now, that its management was in the hands of indi-
viduals who were improperly using its mighty means to
promote their own personal interests,* at the sacrifice of
the public interest; and some things were reported, or
made known to me, that I thought deserved the severest
reprehension, and so did I reprehend them, with a degree
of industry and zeal that was never surpassed; and have
always believed that I deserved some degree of credit for
the courage with which I attacked this bank, and the
"raff barons" generally, andthe constancy with which I
pursued both, until a reformation was effected, through
the force of public opinion- for it was freely predicted
and generally believed, by many of my best friends, that
I would, and must, fall a victim to the power of the paper
money makers and lenders of currency It was not so.
When I began the attack, the stock of the bank, being
abominably hypothecated, (as I thought), had a selling or
a market value of more than 150 dollars a share when I
ceased the attack, because of a reformation effected, the
stock was selling at about 85 or 90 dollars. Idonotbelieve,
and cannot affect a belief, that this revolution was brought
about by myself but I had, perhaps, rather more to do
in it than any other person, and do take some credit to
myself for the amendments that were made, whereby the
bank was brought back to its original purposes, as I es-
teemed them; and the reform quieted my opposition to
the bank, for then no desire existed in me to embarrass

which I liberally participated for I never received the
slightest matter of favor or accommodation from it, un-
less of a general nature; and my name, by an act of my
own, was never presented to the bank, two instances ex-
cepted, to the best of my recollection unless in the en-
dorsement of checks made payable to me, and remitted
from distant places.:): Thus seeing and feeling that the

or destroy it.

With these explanations and references to facts, which
re accessible to thousands through the preservation of
umerous files of the REGISTER, I appeal to the common
ense of my fellow citizens, to the good feeling of every

*The leading "democrats" of Pennsylvania opposed the old
bank as being unconstitutional. I cannot just now lay my hand
upon the yeas and nays in congress concerning it hut well
know that, to put it down, for the reasons assigned above, as
well as on constitutional principles, was the "democratic" or-
der of thaeday.

The Pennsylvania delegation in congress voted against the
present bank, on constitutional grounds chiefly against it 12,
for it 7, absent 4.

But the Pennsylvania delegation, with both the senators
(Messrs. Wilkins and Dallas), voted for the bill of 1832, whicl
was vetoed by the president for that bill 24, against it 1, am
one absent, in the bouse. The solitary nay was given by Mr
A. King, the absent member was Mr. Muhlenburg.

And in 1832, the following resolution passed the legislature o
Pennsylvania unanimously:

Resolved by the authority aforesaid, That connected as tilt
prosperity of AGRICULTURE and MANUFACTURES are with Hi
successful financial operations and sound currency of the noun
try, we view the speedy rechartering of the bank of the Unitec
States as of VITAL IMPORTANCE to trie public welfare."

JThese things are mentioned because that venal and corrup
rnen always measure other men's actions by the base motive
which influence their own. And I repeat it, that the name <
"H. Niles," lo the best of his recollection, (except in emlorst
ment of checks payable to him), was never by hini, or for h
use, presented to the bank of the United States, or any ot i
offices, but in two instances. The first was for the purpose o
remitting 100 dollars for the relief of the sufferers by the grea

re at Fayetteville, (as president of the Mechanical fire compa-
y); and the second in the sale or collection of a check on one
f the western offices for a little money deposited to his credit
lerein. His small account was kept in the Union bank of
larvliitid. (the present deposite bank), in which he takes much
)leasure to say, that every request made by him, being consiiier-
d moderate, (one excepted, and then only for the moment, as
t were), has been complied with since the present adminis-
ration of that bank, at least.

At a meeting held at Tammany Hall, New York, on the 19th
''eb. (last) a certain report was presented and adopted, signed
ly Preserved Fis/i and James J. Roosevelt, esqs. in which certain
extracts were made from my work (the "Register") of 1819, as
to the prodigality of some of the speculators in the bank, and the
pressure on the people, at that lime. There is not one word in
:hese extracts that 1 will retract. They were true, as were a
thousand other things that 1 said, at the time; and it will he re-
collected by many th.il I then propheoied, " palactt u-ould he
turned into poor ftouses" beoanse of such proceeding*. Did it

ito pc

not happen? Let the like be avoided, hereafter! Rut if thcsf mat-
ters are brought up in judgment aeainst me, Peter, the apostle,
as is stated below, should always be esteemed a base coward
and liar. He was not so nor do honest men so esttrm him.
The wron^ that he committed was washed away by repentance
and good works, and so it was with the reformed bank.

It is proper to add, that the presMire on the people above
spoken of was as much caused by the deranged stale of the
local banks, called upon to make specie payments, as by the
acts of the bank of the United States. Jobbers and gambler?
and shavers were riot confined whhin the walls of that iBst^
tution.
For the article atbove alluded to see page VI.

20 NILES' REGISTER MARCH 8, 1834 A BANK OF THE UNITED STATES.

upright man, whether what I said of the hank as it -was
in my opinion, should be retorted against me as applica
ble to the bank as it is, in my opinion. If such a pro
ceeding is right, or honest, Peter, the "prince of the
apostles," as he is called, should bear rank only with Juda
Iscariot. But Peter wept and repented, and reformed
and suffered martyrdom in testimony of the doctrines o
his Lord and Master, whom he had, in a season of weak
ness, three times denied, and just after professions of thi
most ardent attachment to him! And who shall stand in
that great day of condemnation which the Christian pub
lie believes in, if repentance and reformation do not re
lieve the burthen of sin committed? And we are tolc
that there is more rejoicing over one man that repentell
than over ninety and nine who needeth it not. And so '
certainly should be, amongst men, else every motive to
reformation of the heart and conduct must expire.

I blame not those who sincerely believe, as I believet
in 1818-19, that the bank of the United States has be-
haved improperly. They have an undoubted right to
enjoy their belief and to act upon it; but the same righ
belongs also to me. Some tharges are preferred agains
the bank, for which it is desirable that no foundation
for a suspicion should have been laid but consider
ing the position in which the bank was placed, by the ex-
traordinary war that was commenced against it, withou
cause, in the out-set, at least, these things, if not to he
justified, may be excused, in its defence; for it must be
recollected that its very solvency was assailed, though its
power to maintain itself is now the leading cause of vitu-
peration against it! Does not this show that some gram
"mistake" has been made?

Though no man expected that such a war as has pre-
vailed against the bank could be waged,* the ability of the
bank to defend itself is conclusive evidence of the exist-
ence of a power in that institution whieh, in 1818-19, 1
spoke so freely of, and certainly feared; which power,
though if admitted to be now exerted only for the noble
purpose of preserving a wholesome and sound currency,
1 -would not agree to continue; but, on the other hand,
the power of the executive against the bank, should be
also restrained. I shall not discuss these matters; but
proceed to make some remarks as to a renewal of the
ehurter, on certain conditions, and conclude just taking
leave to say, that my wish for the continuation of na-
tional bank, is not quite the same thing as a continuation
of the present charter to the national bank!

1. I prefer a renewal of the charter, to the establish-
ment of a new bank, for the highly important reason,
that the latter would open a new and vast field for new
speculations (in which the public has no sort of interest,
except in public suffering because of them), more preg-
nant in rascalities [I have written the word and will not
blot it], than even were those imputed to the early mana-
ger! of the present bank, and about which I was so anxi-
ous, at the time.

2. Whether the location of a renewed bank shall be at
Philadelphia or New York, is of little moment to the
people, at large; but a plan could lie easily devised (as I
think), by which all reasonable cause for local jealousies,
or interferences with local concerns, might be relieved.
There must, however, be only one head for the gene-
ral policy of the bank, to be wholesome, must be a stea-
dy one.

3. Heduce the capital of the bank to the 28 million*,
as now held by the private stockholders forbid the hank
to issue notes, or any thing in lieu thereof, of a less deno-
mination than 10, 15 or even 20 dollars, and provide that
the least denomination of notes shall be paid at any, or
cither, of the offices, in specif, on demand; and that all
other notes shall be received in settlements wilh banks,
:ts was provided for in the vetoed bill of 1832. Thus the
burthen of preserving a sound and equal currency would
be laid on the bank, while it would be protected in a
considerable degree, as it ought, from unjust "runs" that
otherwise might he made upon it, by malicious and irre-
sponsible individuals for, in this case, the state banks
would have a deep interest in the national bank, and the
business of the currency proofed, and be respected,
as a mutual concern. The people could not suffer by this

*For the government has a Inree pecuniary interest in the
flack without reference to other aud vastly more important

arrangement, and the well managed state banks -woulc?
be always safe under it which is a matter of high con-
sideration with every man. Impose on the bank all it
duties, restraints and checks as provided in the present
charter, and add others, if necessary; prohibit it from
establishing new branches, without the consent of th
states in which they are to be located, and provide means
by which the states may discontinue branches under certain
strictly guarded regulations, to prevent sudden embarrass-
ments of the currency, and let the capital vested in the
branches be subject to the state laws which levy taxes on
the capital of their own banks, on the same conditions but
with these strong restraints, (the political iniquity of
selling acts of incorporation being also regarded) let the
recharter be made without demanding a bontts.

4. Vest the power concerning the deposites only ii*
congress the senate and house of representatives, with--
out resort or reference to the president OF secretary of
the treasury, when congress is in session; in the recess,,
let the secretary have power to remove the public mo--
neys only in cases of imminent danger of the insel>vency*
of the bank, (indicated by overt acts) with the approba-
tion of the chief justice of the United States, foe the time
being* that officer being, as much as is possible, remoY-
ed from ^otfrtcal impulses; which should never preTail in-
die consideration oi a matter so delicate as the state of
the currency.

5. But the state banks which issue notes of a less de-
nomination than five dollars, shall not be entitled to press
on the bank of the United States or any of its offices, as
provided for in No. 3 and all receivers of public mo-
ney should be forbidden to receive any of the notes of
such banks, whether large or small, in the payment of
debts due the United States.

6. To provide against the want of a general, convenient
and equal currency, (for the state banks connoifurnishit),
and to make a further and wholesome advance in the use
of coin, and check the shaving of state bank notes with-
out the range of their own approved circulation, let the
value of gold, in weight or fineness, be reduced one or
two percent, below that of silver, as such value is ge-
nerally measured in our exchanges with Great Britain
and France, that we may have a free circulation of gold
coins eagles, halves and quarters, made out of our own
gold. At the general rate of exchanges, our eagles are
worth $10 30 to $10 50 in dollars, and they "flee away;"
but make them worth $9 80, and they, and their parts,
will remain with us, and the amount allowed for seig^nor-
age could not furnish any just cause for complaint, inas-
much as bank notes or silver might still be used, if per-
sons preferred the risk, expense, and labor or loss, of
making disbursements with them.

Such are the "checks and balances" that I would pro-
pose to restrain the power of the bank of the United
States, (and of the state banks, also), to do wrong, and
render both more useful and safe than they are. It is no
argument in favor of the present power of the bank of the
I'. States that it has not abused it, as most business men
jelieve that it has not, since its reformation; but it ha*
^ower, in its ability to regulate the "circulation of va-
lues." as stated in the last URRISTER, to assess, as it
were, the money-value of every man's field or house,
which power has been exerted by the president of the U*
States in removing the deposites, and I -mould not grant it
'o either; for the reason that it may be abused, and is not
nt all necessary to the public good.

Such is a free outline of my views. Perhaps, they
will not please either party to the present controversy,
nit 1 think them sound and, so thinking, present them.
t is my opinion, that the provisions suggested would
check the power of the hank, without affecting either its
usefulness or the profit of its stockholders. The cha-
racter of its business might be considerably changed, in
ome places inland bills taking the place of domestic
lotos, and for which a national bank is most needed; and
he tariff" on them would be continually regulated by the
*ood state banks, so far as they should be capable of sus-
ttining a uniform currency. But I cannot go into fur-
lier details. The article is too long already.

There i* nome difficulty in this reference, for the reason that
he matter might come into court liut confidence may be
afely repoged in the rest of the bench of judges' should it ever
o happen.

NILES> REGISTER- MARCH 8, 1834-FOREIGN NEWS.

In -speaking above of the currency being a "delit
*nd profound" subject, I am well aware that some n

'delicat
lie ma

ask, why / have meddled with it? But the attitude i
which 1 am seemingly placed, whether in relation to pai
or present things, in relation to the bank, appeared t
require such an adventure on my part. In the ex 1st in
state of parties, I think that a spirit of accommodatio
ought to prevail. THE NATION STANDS ON THE VEII

BRINK OF A HORRIBLE PRECIPICE.

The preceding remarks are not offered in the way o
an apology. What I said and did in 1818-19, I wouli
say and do again, under the same impressions of duty
the same offences against the "common welfare," and to
relieve the people of a "rag currency" or "rag barons,'
of all sorts and sizes, from the bank of the United State's
to the travelling or "saddlebags bank" of Parkersburg*
or equally famous bank of "Owl Creek."

Very respectfully, H. NILES.

Baltimore, March 3, 1834.

AWFUL DISASTER. The splendid steamboat, William
Perm, capt. Jefferies, of the Baltimore and Philadelphia
Citizens Union Line, when off Gloucester Point House
about three miles below Philadelphia, on her regulai
trip from New Castle, was discovered to be on fire in the
afternoon of the 4th inst. in or near the wheel house
There were from 150 to 200 persons on board, and. as
the flames spread with almost inconceivable rapidity,
from the lightness of the wood used in her upper deck,
&c. the scene thai followed may be imagined, but can-
not be described. Capt. Jefferies, on this trying occa-
sion, appears to have behaved with great energy and
thoughtfulness. He ordered the boat run a-shore, side
on, but it seems that the helmsman, in the confusion, run
her stem on 'thus placing the bow in the mud while the
stern was yet in deep water, and the "wall of fire," in
the middle of the boat, separated the passengers, and
seems chiefly to have caused the loss of life that follow-
ed, as well as much increased the difficulty of escaping
even from the bow, for the passengers, after'letting them-
selves down, or jumping overboard, had to wade through
deep water and soft mud nearly 200 feet, before they
reached the firm ground, and two or three are supposed
to have been drowned by jumping off the stern. Bein-
in the neighborhood of the city, verv prompt and gener-
ous assistance was rendered, whereby the amount of suf-
fering was much alleviated but those who escaped were
in a wretched plight from wading to shore.

As we suppose that a particular statement of this me-
lancholy affair will be published, we shall not now at-
tempt a gathering of the facts given in the Philadelphia
papers. It is only certainly known th;>t five persons were
lost among them the rev. Mr. Moore, of Lewistown,
Del. col Porter, of Philadelphia, and a female unknown,
by drowning, and Walter M. Bulkley, a respectable mer-
chant of Hartford, Con. because of wounds and expo-
sure, being in bad health; what became of the other is
not stated. A great deal of the baggage was thrown
overboard and saved, and the chief of the mails. But the
Baltimore bag, which contained also the letters receiv-
ed by the great western mails, was no doubt, as we think,
consumed, for it could not be found; and a mail lock and
chain were discovered, partially melted by the fire, on
searching the ruins of the boat. Other malls may have
shared the same fate.

Soon after the William Penn struck the bottom, she
was in one tremendous sheet of flame but at half past 6
o'clock, floated oft" with the tide, and went up the river,
still burning, until she grounded on the island opposite
the city, where she burnt down to the water's-edge.

Besides the loss of life, several were very badly wound-
ed. Mr. Bulkley had $900 in his stock, which-were sav-
ed. There were about 12 women, wiih several children
on board all the latter saved, two of the former lost.
The mayor of Philadelphia, and others, made great
exertions to relieve the sufferings, and afford such com-
fort to the passengers as their several cases required.

*lfl have wrongfully located tins bank, I beg pardon of the
good people of Parkersburgh and it may be that I have, for it
is several years since ttiat I lit a segar with one of its ten dol-
lar notes! Bin there was a "bank" whose notes were carried
about the country in saddle hags, to b* exchanged with land-
holder* and other* for their notes'.

The boat was worth 70 or 80,000 dollar* and om
very valuable effects are supposed to have been lost, be-
sides the mails. One lot of jewelry, worth $15,000, ii
mentioned.

Philadelphia post office, March 5, 1834, 7 o'clock.

Three bags, containing newspapers and pamphlets,
were received on the evening of the 4th, from on board
the William Penn one of them partly burnt, some of
the packages missing, and a portion of the remainder so
wetted and defaced, as to render further transportation
useless. One package, marked "Massachusetts state,"
taken from the Washington city letter mail, the only one
saved, and containing letters for parts of New Hampshire,
and Massachusetts, was detained, the letters being too
damp to be forwarded.

A number of bags, containing newspapers and pam-
phlets, are missing, some it is supposed were burnt, and
others thrown overboard and lost,

Persons finding any loose packages, and detaining or
embezzelling them, will be prosecuted under the act of
congress, and become liable to fine and imprisonment.
If returned immediately to the office, a suitable reward
will be given.

Further search has led to the conclusion that two large
portmanteaus, containing the letters from Baltimore city
and the west embracing, as is supposed, Cincinnati,
and Ohio state; (south) Illinois, Indiana, Kentucky, west
Tennessee, Western Shore of Maryland, and Washing-
ton, Brownsville, Union Town and New Geneva, Pa.
and for distribution, have been entirely consumed.
Their locks and chains, partly melted, were found in the
wreck of the boat, on the falling of the tide, by Mr. Me
Cnhen, chief carrier, and the proprietors of the hotel at
Kaign's Point. Messrs. Taher and Potter, after a dili-
gent search on the fiats, at low water, were unable to
discover any of the lost mails. It is impossible to tell
the extent of the loss occasioned by the destruction of
he portmanteaus. JAMES PAGE, P. M.

Baltimore pnsl office 1 P. M. 6th March, 1834.
It would appear by a letter just received by me from
Hoi. Page, postmaster of Philadelphia, that all letter
mails made up at this office for Philadelphia and for cities
ast of that office, hare been destroyed or lost. The same
jortnianteau conveyed the letter mail from the west forci-
;ies east of this. The letter from the postmaster of Phila-
lelphia, with any otrier particulars which may he receiv-
ed, will be sent to the Exchange rooms, for the informa-
tion of merchants and others. J. S. SKINNER, P. M.

FOREIGN NEWS.

FVom London papers to the 21th and Havre to the 30/4 Jan. botk

inclusive.

GREAT BRITAIN.

The king was to open the approaching session of parliament
n person. Much speculation exists in the money market iu
"ngland, as to the probable effect of the crisis in the United
States, brought on by the controversy between our government
nd the United Slates bank. The general impression was that
arge importations of specie from that country to this will he
endered necessary to sustain credit here, and that tins will
reduce an influence on the exchanges in England.

SPAIN.

A conspiracy against the life of the queen and her regent

mother, had been discovered, and several distinguished persons

rrested. The change in the ministry is confirmed, the liberal

arty having succeeded in obtaining power. The consequence

vas that the government had issued ordonnance? for the iui-

ediate convocation of the cartes. Don Carlos was still in

'ortugal. Gen. Llander, who sejit so strong n remonstrance to

>e queen, has issued a proclamation, in which lie states time

II his hopes have been realized by the late political changes at

Madrid.

PORTUGAL.

Gen. Salilanlin with a body of Don Pedro's army had captnred
.e town of Leira; the entire garrison, comprising 1,476 men
6 cavalry, with the exception of three officers and sli cavalry fell
ntohis hands. Don Pedro's forces had also gained an advantage
t Marvao, and it was supposed that the Migueliles could not
old out much longer.

FRANCE.

Humors were rile of the expected resignation of ministers,
'here had been a difficulty between the committee of thechsm-
ers and the minister of war, with respect to the estimates for
:e sririy, which, on conference, had been adjusted. The French
lip of the line, La Snperbe, had been lost in the Levant. The
arne letter which announces this fact, also states that the frigala
Tnifed States, commodore Patteroon, lost some of her maiu,
ad her sails toru awny and her boats carried off, and after b-

NJLES' REGISTER MARCH 8, 1834 CONGRESS.

ing nearly embayed off the coast of Andros, had been so fortu-
nate as to gain the harbor of iMilo. Tin; paper* contain the nojes
which passed between the French minister J. de Lagrcne and
the Russian minister, Nesselrode, relative to the treaty between
the latter power and the porte. Tlie French minister is instruct-
ed to declare, that it' the. stipulations of this act should lead to
an armed intervention of Russia in the internal affairs of Tur-
key, the French government will consider iu>e If at liberty to act
as may be suggested by circumstance*. The reply of the Rus-
sian minister denies the rihl of a third party to interfere be-
jweeen two independent nations in their treaty arrangemenls,
and that, acting on this principle, the emperor will fultil all his
obligations towards TurUey.

TWENTY-THIRD CONGRESS FIRST SESSION.

SKNATE.

February 28. Among other morning business attended to,
many resolutions that had been laid on the table were taken up
and agreed to.

The resolution offered yesterday byMr. Poindexter was then
taken up, and discussed for nearly three hours, in which
Messrs. Poindeiter, f'orsyth, King, GrunJy, Clay, Black, Moore,
Manum and White, participated.

The resolution was agreed to. [The discussion was very-
warm and personal, between Messrs. Poi/irfer/er and t'orsyth,,
)t>e,cause of impeachments of the facts suggested by the former
which led to an apprehension that they must result in a person-
al rencontre. But by the interference of distinguished friends
of both parties, the difference was satisfactorily adjusted as i
should have been.]

Many bills weie taken up and considered, and referred or
passed. After which the senate went into the consideration o
executive business, and when the doors were opened, adjourn
ed uniil Monday.

March 3. Mr. Clayton presented the draught of a memorial
rigtied by one thousand six hundred and fifty 'citizens of thi
county of Newcastle, in the state of Delaware, praying the res
toration of the public deposites,io ihe bank of the United State
and the permanent establishment of a sound mid uniform cur
rency. After stating the contents of the memorial, Mr. C. ob
served, tiiat it had been delivi-.red to him by a delegation com
posed of gentlemen of the first respectability, appointed at
"meeting of the citizens of that county, held at the city of Wil
mington, on the -22tl ult. and represented to be the largest as
Be-mUlage at that place within the recollection of those who at
tended it.

The memorial, said Mr. C. is signed by a majority of all th
legal voters of the only county in the state which has ever ex

?ressed an opinion, by a plurality of VOK-S at any election, in fa
or of the present chief magistrate of the United States. Me
of all parties, of all trades and profession', of all the grades o
Jife, wln-ther rich or poor, farmers, manufacturers, merchant,
mechanics and laborers, have concurred in the expression c
that sentiment which is now pervading all the ranks and t-las
'es of men in other sections of the union, that the appropriai
remedy for the distresses of the country is the icstoration of tl
public treasure to the public agent, primarily appointed by con-
gress to receive it.

' Mr. C. proceeded to speak at considerable length on the cha-
j-acler of the petition and stale of things in Delaware. He first
f poke of the farmers, who had sustained a loss in the price of
corn of 25 cent? a bushel at the lime of the removal of the depo-
nitusit was 70 cents, and expected to increase, it is now 45 cents,
and dull, and declining. He next referred to the manufactur-
er', and said many were compelled to receive due. bills, called
"Jackson money," payable lour or five months after date,
whj-li they had to <;i:l "shaved" the employer having no otht-r
(tentative but ti.is from the necessity 01 "turning his workmen
out of doors. He also stated the following significant facts:

"The mechanics and merchants, too, have participated fully
in lli difficulties which embarrass the farmer and manufactur-
er. The effect is felt of course with most severity by those to

ully convinced that this is the cause of their embarrassment,
icy earnestly pray that the depositeg may be restored; and,
ithout soliciting a recharter of the present bank, or venturing
i point out any other course, they ask from congress, in gener-

bul expressive language, the adoption of some mearurefor
le permanent establishment of a sound currency.

[Mr. C. pursued the subject much further, with his usnal
bility, but we cannot follow him]. The memorial was referred.

Mr- Poindexter rose for the purpose of redeeming the pledge
hich he had given to institute an inquiry into the allegej
auds in the sali-s of the public lands; and having made a tew
irong remarks on the matter generally, he submitted the fol-
owing resolutions:

1. Resolved, That the committee on the public lands be in-
truded to inquire into the circumstances attending the recent
ales of the public lands in the state of Mississippi and Alal.-ama:
nd whether the pioclamations of the president of the United

States, causing the public lands in the districts of country ae-
uired from the Choctaw tribe of Indians by the treaty of Danc-
ng Rabbit creek, and from the Creek tribe of Indians in Alaba-
ma, to be offered at public sale, were issued and promulgated
i reasonable length of time prior to the day on which said sales
were directed to be commenced in each of said districts, to give
>roper notice to. the people of the United Stales of the days ap-
loinled fur said sales.

2. Resolved, That the same committee inquire whether any
'raudulent practices, to the injury of the public interests, took
)lace at said sales by reasons of combinations of companies or
individuals, interdicting or unfavorable to a fair competition be-
tween bidders for the public lands offered for sale in said d)?-
:ricis; and, if so, whether the officers superintending said sales
liad knowledge of, or participated in, such fraudulent practices
or combinations.

3. Resolved, That the said committee be instructed to inquire
whether the registers of the land offices and the receivers of
public moneys at any of the land offices of the United States, or
either of them, have, in violation of law and of their official
duties, demanded or accepted a bonus or premium from any
purchaser or purchasers of the public lands, at public or private
sale, for the benefit of such officer or officers, as a condition on
which such purchaser or purchasers should be allowed to enter
or purchase any tract or tracts of land offered for sale by the
United States; and, also, whether any register or receiver as
aforesaid has been guilty of fraud or partiality in the sales of the
public lands, by adopting rules and regulations, in their respec-
tive offices, inconsistent with the laws of the United States.

4. Resolved, That the said committee inquire whether the
public lands, at any land office in the state of Mississippi, have
been sold otherwise than for cash; and whether any register or
receiver in said state has, at any time, taken in payment the
promissory note of any purchaser or purchasers, bearing an in-
terest to accrue to the benefit of such reaister or receiver.

5. Resolved, That, in prosecution of said inquiries, the said
committee have power to send for persons and papers, and to
examine witnesses before them on oath, touching the matters
aforesaid.

Mr. Poindexter also offered the following:

1. Resolved, That the secretary of the war department be di-
rected to communicate to the senate, the name or name s of the
agent or agents appointed by the president of the United Stales
to locate the reseivations granted to individuals of the Choctaw
tribe of Indians, by the treaty of Dancing Rabbit creek; and also,
copies of such instructions as may have beet) given to the agent
or agents so appointed; and of any correspondence which may
have taken place between any officer in the department of war
and said agent or agents, or any other person or persons, whose
correspondence may be in the department, touching the loca-
tion of said reservations, and the manner in which the duties of
said agent or asents may have been performed.

2. Resolved, That the said secretary be directed to transmit
to the senate, a copy of the register of the names of such Choe-

whom they have heretofore given employment. To illustrate
the real state of things existing among the poor, I will mention
a single fact which has been related to me !iy a friend. In the
cily [Wilmington] win-re this memorial originated, there is, as
in oilier large towns throughout the country, a tarings' bank, in
which the wages of labor have been deposited. Ln-t year at
thie season the drposiies for a month were about ,1. 200, the
amount withdrawn about .*400. In the corresponding month
of the present year il. ivc been about ft-100, and the

taw Indians, as claim reservations of lands, under the 14th and
19lh articles of said treaty.

Mr. Grundy expressed Ilia satisfaction thatthii movement had
been made. If any thins wrong had been done, he would be
glad to see it exposed. His object in rising, was to ask for the
printing of the resolutions, in order that he niisht be able to as-
certain whether it might not be necessary to give some further
instruction 10 the committee.

The resolutions calling for information, were then considered
and adopted.

amount withdraw* *3,700. Is the inference fair, that the poor The other resolutions were ordered to be printed,
are now living on their former earning, and that the laborer Mr. McKean presented the proceedings of a meeting of "the
want* employment." ] friends of the constitution and laws," comprising the farmers.

He further observed "No, fir, the hope of the petitionrrp manufacturers and mechanics, laborers in wood, ciiizrns of the

rests not on such as thee, ["regiments of office holders," &,c.
which ho had jut described] hut on congress, and on congress
alone. They present themselves here, neither a* stockholders
nor as debtors of the bank of the United States; as men in no
manner connected with the institution, or subject to its control.
They tell y MI in their memorial, that there is in their slate no
branch of the bank of Die United Slates, and thai llipcurlail-
nienU which Iheir own state banks have been compelled to re-
*ort to, were not caused hy any prensure of the bank of the U.
Plates upon them. Iml by Hie general distrust which the unex-
pected removal of the public moneys from an institution where
they were sdvantageoiHv amplovfd, ha* created in all the
^UUe banks, and among tin; wi-olfj commercial community.

townhip* of Oxford, Lower Dublin, Byherry. Mori-land, and
un incorporated Northern Liberties of the county of Philadel-
phia, condemnine, in strong nnd emphatic language, the con-
duct of the president of (he United Ptntes, in reference to the
removal of the public deposites from the United Slates' bank,
a an act "unv-iie. ii'/r <;.'. rinrfjrfiVr, unnecessary find njtjtt."
They Migijert various expedients for redress, and intimate the
propriety of congress withholding appropriations and supplie*
for certain portion' of the public service, until the executive
phall yield IIH assent to other measures necessary for the public
welfare.

Mr. Mr.Kean also presented the proceedings ofan union meet-
ing (qfall political parties) of the city and county of Lancaster

NiLES' REGISTER MARCH 8, 1834 CONGRESS.

opposed to the removal of tin; depoaites, arid in favor of rechur-
turiii the United Slates' bank.

Mr. McKean further presented the proceedings of a meeting
of citizen* of the township of Kovhorough and town of Maha ;
yunk, in the county of Philadelphia, in favor of restoring llie
deposii.es and rechartering the United States' hank; which were
road, referred to the committee of finance and ordered to be
printed.

The chair having called the special order, &.C. Mr. Chambers
moved thai it might he postponed for the purpose of taking up
the French spoliation bill. Mr. Clay objected, and hoped that
the. subject under discussion would not be postponed he wish-
ed it closed, and thought a few days would suffice for that pur-
pose. After some further remarks. Mr. Hill rose and made
gnme observations in favor of the report of the secretary on re-
moving the deposites; and the senate adjourned, (at 4 o'clock)
before he had concluded.

March.4. The chair communicated the proceedings of. and
resolutions adopted at, a town meeting in Philadelphia, of a
large number of its citizens, who describe themselves friendly
to the administration, and opposed to the United States bank,
but remonstrating against the removal of the public deposites,
i impolitic, unjust, and in violation of the public faith; and as
cribing the pecuniary embarrassments of the country to that
measure.

Mr. McKean moved that it should be referred and printed;
but before the question was taken, Mr. Clay made a few, but
forcible remarks on the current of public opinion, &c, and con-
cluded with asking "Would any one say, alter what wo have
witnessed ruinous scenes of distress, worse than the devasta-
tions of an invading army that we can gel on without a na-
tional bank? No, after years of suffering, gentlemen would gin
up and say, that their experiment had not been worked out, and
they would propose a bank in a certain street and in a certain
city he had before named; and if the statute of limitation, to
which he had alluded, as to political opinions, should not be re-
scinded, such a proposition would no doubt be supported by
gentlemen now opposed to a bank. He had made these few
observations because the memorial, coming from the source it
did, was about to be referred without one single remark, with-
out one single remark, without one word expressive of satisfac-
tion from the friends of the administration."

Mr. McKean spoke of the signers of the petition as gentle-
men of the highest respectability, &c. Mr. Grundy then made
a few remarks, shewing his preference for Philadelphia, as the
seat of the national bank, if such an institution shall be conti-
nued. The petition was then referred, Sic.

When the cAatr presented the proceedings of the people of
Chester county, Pa. as noticed in the proceedings of the other
house

Mr. McKean said, that, while he did not doubt the existence
of pecuniary embarrassments and distress in the country; on the
contrary, believing it to exist to some extent he did not feel
himself compelled to express his entire satisfaction in all the
sentiments expressed by iiis friend from Kentucky. The sub-
ject matter of the memorials had been well described by the
gentleman, and the senate had, no doubt, been better entertain-
ed by hearing them read, than by any remarks he could make.
He moved that the memorials be referred to the committee on
finance and printed; which motion was carried.

The cAatr communicated a report from the secretary of the
treasury, transmitting the information called for by the resolu-
tion of the 28th ult. on the subject of the transfer of public de-
po*itea from the Planters' bank at Natchez.

Also, a report from the same department, made in compli-
ance with the resolution of the 28th ult. enclosing copies ot
statements of the affairs of the bank of the United States from
August, 1833, to February, 1834, inclusive.

Also, a report from the postmaster general, made in compli-
ance with the resolution of the ]9th of December last.

All of which, without reading, were laid on the table, and or-
dered to be printed.

Mr. Poindexter, fiom the select committee, to whom the sub-
ject was referred, made a report on ths subject of the election
of the hon. A. Robbing, and the memorial of the lion. E. R.
Potter.

[The report gives the right of the seat to Mr. Robbing. Mr.
Wright, on the part of the minority, said he should present a
counter teport, when he could obtain possession of the papers,
ice. After considerable debate on the order of proceeding, the
report was ordered to be printed. It is very long, and occupied
about an hour in the reading.]

After some other business, Mr. Hill continued and conclud-
ed his remark*, and then the senate, after spending ome time
in executive business, adjourned.

March 5. Mr. Preston presented the credentials of Benjamin
Watkimt Leigh, sleeted a senator by the legislature of the -=tate
of Virginia, to supply the vacancy occasioned by the resignation
of hon. William C. Rivet. Mr. Leigh was qualified and took
his eat.

After somfi other proceedings, thn senate proceeded to consi-
der the resolutions moved by Mr. Poindexter on Monday last,
which after several verbal amendmpnts were severally adopted.
Mr. Morris moved to adopt the following as a sixth resolution,
but subsequently withdrew his motion:

Reiolved, Thnt the committee, before they proceed to inquire
into the conduct of any register or receiver of the public money

at any land office in the United States, make out a specification
of charges and facts which the committee believe to be true,
and into which they shall be of opinion an inquiry ought to be
made; that thi-y transmit a copy 01 the fame to inch regiter or
receiver, who hall have the privilege to produce before tho
commilti'i; such testimony IH his favor as he Miall think proper.

The

thin adjourned.

March 6. Many petitions were presented this day, and one by
Mr. Wright, from 310 respectable citizens of Buffalo, praying
for a restoration of the deposited.

The senate attended to a good deal of local and private busi-
ness this day, and spent some time in secret session.

HOUSE OF REPRESENTATIVES.

Friday, Feb. 28. This day is given up to the consideration of
private business hut among the morning proceeding*
Mr. Hull, of North Carolina, offered the following resolution:
Resolved, That the committee of ways and means be instruct-
ed to inquire into the expediency of reporting a plan, accom-
panied by a bill, to reduce the revenue to the necessary eiprn-cs
of the government.

Mr. Stewart moved the question of consideration.
Mr. McDuffie requested Mr. S. to withdraw his motion; hut
he declined doing so.

Mr. Conner then demanded the yeas and nays upon the pre-
liminary question of consideration; which were ordered and
taken, as follow?:

For the consideration 69 against it 115. [And so the conide-
ration was refused, on the motion of Mr. Stewart, who voted
with the majority his ohjeot being to put the matter at rest.J

Other things being attended to, the house proceeded to the
order of the day, and ordered a numberof private bills to a third
reading, &c. that for the relief of Mrs. Dooatnr remaining as it
was, al'tor considerable discussion. Adjourned until .Monday.

Monday, March 3. This being petition-day, as soon as the
journal was read

Mr. Heister of Pennsylvania, rose and said, I have had trans-
mitted to me, for presentation to this house, llie proceedings (if
a meeting held on the 22d ult. in the city of Lancaster, Penn-
sylvania. On tho authority of a number of gentlemen of the
first respectability, I take occasion lo state, that it was a meet-
ing as numerously attended as any ever held in that populous
and highly favored agricultural county; that it was principally
composed of ihe&one and sinew, the ycomamni and business- mm
of the country; and it may be proper to state, further, that the
meeting tons, as it purports to have been, a "union meelinf,"
composed of a very respectable proportion of the original, and
many of the continued friends of the present r>hi"f magistrate,
down to the time of his unfortunate interference with, and direc-
tion of, and removal of the public deposites, which, in one of
the resolutions, is so justly characterized "as nn act in itself un-
wi<e, the effect not having been duly considered, not called for
hy the exigency of the times, ad verse to the real interests of the
county, and derogatory to the national character of the United
States."

On this all important and interesting subject, F have nnt, for
one moment, doubted what course, not only the intnresls of my
immediate constituents, but the great interests of the whole
country, required me, as an humble member of this honorable
body, to pursue; nncl it is no small gratification to me to be so
strongly and creditably sustained in what i had conscientiously
conceived to be my duty.

Mr. H. made many oilier remarks, ngainn the "experiment''
that was now going on, &c. and staled that thfi memorial* now
presented by him were signed by 2,840 citizens of Lancaster
county, praying for a restoration of the deposites and a ri'ditir-
ter of tho bank.

Many petitions praying for a restoration of the dcpo?ite, SLC.
were also presented

By Mr. Potts, from the -people of Chester county. Pa. The num-
ber of the namea is not given, but Mr. P. said that in some of
the townships, they had been signed by ewry voter, four or five
persons excepted, and without regard to party.

By the speaker, from citizens of Philadelphia friendly to the
administration, but opposed to the removal of the deposits.

By Mr. Wa^encr, Irom 250 citizens of Northampton co. Pa.

By Mr. Btnnei/, from 1,700 citizens of the same county;

By Mr. Harper, from the - bank, Philadelphia;

By Mr. Sutherlaml, from a great meeting at Roxbury, Pa.

By Mr. Denny, from the bank of Pitt*borg;

By the same from the borough of Allegheny;

By Mr. Jfinj, from Schuylkill co. Pn.

By Mr. Watmough, two memorials from the third congres-
sional district (his own) of Pennsylvania one from the mecha-
nics and working men of the Northern Libprties, the other from
the farmers, manufacturers, Sic. of several township* in Phila-
delphia county, &c.

By Mr. MiHi'son, from New Cat|o county, Delaware, signed
by nearly 1,700 citizens, a majority of all the voters in the
county.

Mr. Gordon presented the resolutions of the legislature of Vir-
ginia.

Petitions against a restoration of the deposited were presented

By Mr. King, from Schuylkill co. Pa.

By Mr. Sutherland, signed by 4,000 working men of tho 3d
congressional district of Pennsylvania.

By Mr. MefCim, from 3,624 persons of Baltimore. [On most of
the presentations of petitions tome remarks were offered w

N1LES' REGISTER MARCH S, ISS4 COiNGRESS.

cannot give them at length, unless they wore very brief, but
shall take a rapid view of tin: most material tilings which hap-
pened this day.]

Mr. Potlt spoke at considerable length of the force and una-
nimity of tlin resolutions, &c. adopted in Chester county, liy
persons of all parties, Sic. and said thai the lime had come when
frui-iiicu must prove their title to Unit name, or lose it forever.

Mr. Sutherland a* well as Mr. Harper, spuke decidedly in fa-
vor of the character of those friends of the administration, in
Philadelphia, who petitioned for a restoration of the deposites.

When .Mr. Sutkerlatid presented the petition signed by "4,000
working men" of the 3d congressional district of Pennsylvania.
Mr. IVutmovgh, (whose district it is) expressed much surprize
seeing that he held other memorials of an opposite nature,
fcc. It was ordered that the names should be printed with the
memorial.

Mr. AtiUigan on presenting the petition from New Castle
county, poke highly of the signers and of the committee charg-
ed witb its delivery at Washington, and entered warmly, and
M much length, into the general merits of the subject.

Mr. Mc,Kim said I am requited to present two memorials,
Netted by '3,524 citizens of li.iltimort- statma thnt they approve
of the course of the administration in relmiuii tolhr; hank of the
United States, aud praying that the charier of said bank may
not be renewed. X shall uot, Mr. Speaker, lrespa>a on the time
of tin: house, by detailing the various trades and professions of
the signers lo this memorial; it is sufficient for my purpose to
lay, tli.it they are American freemen, and as such, entitled to he
beard, and lo have equal weight mid consideration, in propor-
tion to their numbers, as to any memorial yet presented to this

1)01186.

Mr. Gordon when presenting the Virginia resolutions, very
earnestly supported the principles staled in them, and warmly
reprobated ihe seizure of the public purse by the president.
Mr. Patton. in reply, defended the president, and warmly at-
tacked the governor of Virginia because he had enclosed the re-
eolulions in the following letter, in which he insisted that he
(the governor) had travelled out of the line of his duty:

Virginia, executive department, Feb. 13, 1834.

SIR: In compliance with the request of the general assembly
of (the common wealth, it gives me great pleasuie to transmit to
you the accompanying resolutions adopted hy that body, disap-
proving of the recent act of the president, in withdrawal? and
withholding the public deposite. from ihe bauk where they bad
been placed by law.

This dangerous and alarming assumption of power has al-
ready inflicted deep and lasUnj.' injury upon the citizens of this
commonwealth, which your efforts and exertions in the cou-
eress ol Ihe United States, it is hoped, will aid in alleviating as
far as practicable, and restraining the disposition which the
president has manifested to extend his official authority beyond
its just and proper limits, which he has so clearly manifested
in his recent interference with the treasury department of the
federal government.

I am. sir, u'ilh respectful consideration, your ohedient servant,

JOHN FLOYD.

Tuesday, March. 4. Mr. Polk, from the committee of ways
and means, to which had been referred ihe letter of the secre-
tary of the treasury, giving his reasons for withdrawing the pub-
iic deposites from toe bank of the United States; ihe memorial
of tUe bank, and various other papers on ihe same general sub-
ject, uiade a report: Ho moved that it be priuted, and its con-
sideration postponed to to morrow week.

Mr. Clay called for the reading of thfi report.

Mr. McDuffie objecled.

The chair decided ihat k was the right of a member to have
any paper read when first presented in the house.

Mr. McDuffie moved that the reading be dispensed with.

The cliair pronounced that motion out of order; as the read-
ing was of rii-ht.

Mr. Hardin remonstrated ngaiost the unnecessary consump-
tion of lime in reading a lone report, and probably a counter ic-
{torl, both of which would be immedaaiely printed.

Mr. C/ayNHid that hu wished I lie re.-idinc:, because he meant
40 follow it by a motion for printing an extra number of copies
of the report.

Mr. Hardin said lie would vote for the extra number without
the read in 'i.

The chair staled, at length, why he had decided that the read-
ins wa of right, when called for, and then said

The reporl must therefore be read, if desired by the member
from Alabama.

The bouse acquiesced in the decision of the speaker, and the
.paper was ordered lo be read.

The reading of the report was then commenced, and had pro-
orr-ded ome time; when

Mr. Clay statin; it to be his underslandinc that no objection
would be ma<:e to the pun twig of an extra number of the report,
withdrew his call for the reading: and it was thereupon HU-
{vindiMl; Ust, attlirt request of a member, the resolutions with
'which the report closed were road, as follows:

1. ReiolMil, That the banU of the United States ought not to
tie rcrhartered.

2. Retol>\ed, That the public deposites ought not to be restor-
ed to the bank of the United State*.

3. Resolved, That the stats bank* ought to ! continued as
Uie places ol depotite of the public money, and that it is expe-
dient for congress to make further provision byjaiv, prescribing

the mode of selection, the securities to be taken, and the man-
ner and terms on which they are to be employed.

4. Resolved, That, for the purpose of ascertaining, as far a*
practicable, the cause of the commercial embarrassment and
distress complained of hy numerous citizens of Ihe U. States,
in sundry memorials which have been presented lo congress at
the present session, and of inquiring whether Ihe charier of the
bank of Hie United States has been violated; and, a!>o, what
corruptions and abuses have existed in its management; whe-
ther it has used its corporate power or money to control the
press, to interfere in politics, or influence elections; and whe-
ther it has had any agency, through its management or money,
in producing the existing pressure; a select committee be ap-
pointed to inspect the books and examine into the proceeding*
of the said bank, who shall report whether the provisions of the
charter have been violated or not; and, also, what abwses, cor-
ruptions or mal practices have existed in the management of
said bank; and thai Ihe said committee be authorised to send
for persons and papers, and to summon and examine witnesses,
on oath, and lo examine into the affairs of the said bank and
branches, and they are further authorised to visit the principal
bank, or any of it.s branches, for the purpose of inspecting ther
books, correspondence, accounts and other papers connected*
with its management or business; and that the said committee
be required to report the result of such investigation, together
with the evidence they may lake, at as early a day as practica-
ble.

M. McDuffie asked whether it would be in order, at this lime,
to move an amendment to these resolutions.

The chair replied in the negative, as the question before the
house was on the postponement.

Mr. McDuffie then requested Mr. Polk to withdraw bis mo-
tion; but he declined.

Mr. Wilde inquired whether it would be in order to more a
reference of the report to a committee of the whole on the itate
of the union.'

The chair replied that ihe question of postponement had pre-
cedence.

The question was put on Ihe postponement and carried and
the report was ordered to be printed.

Mr. Binney presented to the house a report from the minority
of the committee of ways and means on the same subject, and
moved t.'iat it receive the same destination with tbe last paper;
which was agreed to.

Mr. Clay inoved that 10,000 extra copies erf both reports be
printed.

Mr. Hatces move'J, as an amendment, that there be 50,000;
but it was negatived.

Mr. Reed then moved 20,000; but this was also negaiive4
Mr. Hail, of Maine, moved 15,000.

Mr. Einng, of Indiana, opposed Ihe printing of so great A
number of a report calculated, as tliia is, to extend the existing,
panic, by tending to create a wrong belief, that no adequate
substilute for the existing United Stales' bank can be created.
He contended that the people would not, as they consulted their
own and the general good, place reliance upon a local currency
that would eventually operate as a severe tax upon th >mlus-
try of the country. He thought thai Ihe committee should haver
sliown and recommended a suitable and proper subslitose for
the general good, when it is determined the existing corporators
hank shall cease. He would oppose Ihe priming of so many
thousands of a report that could not fail to extend the existing
want of confidence, and consequently increase the existing em-
barrassment of the country. He would return it witli instruc-
tions to the committee, or lay it upon the table.

[The speaker here informed the member from Indiana that it
was not in order to debate the merits of the question.]
The motion for printing 15,000 copies was agreed to.
Mr. Wilde wished to move that an amendment be printed,
which he desired to offer when the subject came up, (the sama
in substance as the second resolution of Mr. Clay's motion in
the senate, viz: that the reasons of the secretary of the treasury
for the removal of the public deposites are unsatisfactory and
insufficient), but the house refused to suspend the rule in order
to receive Mr. Wildest molion.
After some other business the house adjourned.
Wednesday, March 5. Levi Lincoln, member elect from Mas-
sachusetts, vice John Davis, resigned, appeared, was sworn and
took his neat.

On motion of Mr. Vance, the rule of the house was suspended
in order to resume the calling of petitions suspended on Mon-
day last.

Memorials in favor of the restoration of the deposited were
presented as follows:

From Wheeling, Virginia, signed by 500 citizens from Fay-
etteviile. North Carolina from Norfolk, Virginia from Augus-
ta Georgia, signed by 400 persons from Salem, Kentucky from
Union, Boone comity, Kenluckv two from Louisville, Ken-
tucky, signed by upwards of 1,000 inhabitants from Madison,
Indiana from New Bedford, Massachusetts, signed by 1,920
persons from Durlington, Vermont.

Mr. Conner, of North Carolina, presented the proceedings of
a meeting in Cab;.rHis county, North Carolina, of tin- same le-
nor as the above memorials.

Memorials approving of Ihe removal of the deponites weru
presented as follows:

From Zanesville and Norwich, Ohio from Cbatauqoe coun-
ty, New York, signed by 570 inhabitants.

NILES' REGISTER MARCH 8, 1834 RESIGNATION OF MR. RIVES 25

Mr. Pope presented a petition in relation to the Louisville am
Portland canal.

Mr. Foster presented certain resolutions of the state of Geor-
gia in relation to the public lands.

Mr. Ellsworth presented a number of memorials on the sub-
ject of slavery in the District of Columbia. The house then ad-
journed.

Thursday, March 6. Mr. J. Q. Mams asked leave to offer a
resolution, which being objected to, the rule was suspended by
the house, and the resolution was offered, as follows:

Resolved, That the secretary of the treasury be directed to re-
port to this house a statement of all the sums denominated in
the treasury accounts unavailable funds; specifically designat-
ing the several banks, or individuals, indebted to the treasury
therefor; the time when each debt first became due; the time
when failure of payment thereof first occurred; the security, i
any, which the public have for payment thereof at any time,
and the prospect of such eventual payment.

This resolve, according to the rules of the house, lies on the
table for one day.

The commutation pension bill was discussed but nothing
important transacted this day.

MR. HEATH'S SPEECH

IN THE HOUSE OF REPRESENTATIVES.

Mr. Heath, in presenting a memorial, from a numerous body
of citizens in Baltimore, condemning the removal of the public
deposites, said, he should avail himself of the opportunity of ad-
dressing a few remarks to the house on this subject.

First, with regard to the memorial which had been entrusted
to his care, it was signed by upwards of three thousand indivi-
duals of all classes and without distinction of party. It includ-
ed the whole of the commercial, trading and manufacturing in-
terests of that portion of the community which he had the ho-
nor to represent. Among other names of high respectability,
were to be found several of the directors of the Union bank of
Maryland, a bank which had been selected by the administra-
tion as a place of depositeforthe public moneys together with
the presidents, cashiers and diiectors of several other banks in
Baltimore. The memorial in fact, contained scarcely a single
name that was not well known for integrity and moral worth.
He would confidently appeal to his honorable colleague (Mr.
McKim) who, he was sure, would at all times be found ready
to testify to the high standing, intelligence, enterprise and ta-
lents of the citizens of the district which he, (Mr. H.) had the
honor to represent. He said it with pride, and yet with confi-
dence, that there was no city in this great union, possessed
men more ardent for their country's welfare, more able to sus-
tain her glory and honor, or more free from the trammels of
.party prejudice, than the city of Baltimore. In commercial en-
iier.piise and in the rigid fulfilment of engagements, her citizens
yielded to none, and it was a memorial signed by such men, he
now presented to the house.

He was well aware of the nature of the oath taken by him as
A member of that house, and he was not the less aware that
neither that oath, nor the constitution of his country, which he
had so solemnly sworn to maintain, recognized any party feel-
ting or party prejudice. But he could not help expressing his
.astonishment and regret to observe that too many honorable
#eji.Ueinen who had addressed the house upon this vital ques-
tion, Irad manifested a warmth of party feeling little consistent
with the character of the deliberative representation of the peo-
ple. In saying thus much, he wished not to be understood as
meaning to reflect personally, upon the line of conduct, any
other member might have deemed it his duty to pursue. For
himself, he could solemnly and conscienciously aver, that when
he first entered the door of that hall, he entered it divested of
the remotest principle of party feeling or party prejudice. He
.entered it as an American freeman, to exercise the right be-
ctowed upon a free representative of a free and enlightened
people, resolved to act for his country and his country only. It
was these views and these feelings that should alone bias the
course he intended to adopt.

It has been said upon that floor that the bank of the United
plates had been guilty of a violation of its charter. If so, the
flgfV had provided an ample remedy, and he thought that reme-
'.dy,s\i<3U'.d have been first applied. He would not that the writ
nfseire faeiat should have been withheld one hour after the de-
linquency. !:ad been proved. We have been told that the bank
had made u*e,of tiiv.it funds for electioneering and other illegal
purpose^. It wight be so, but he would ask, was not the same
to be apprehended from the state banks? Had they not the
same means, the same aWJify, the same end to answer, and
what proof was there that they would be more immaculate than
this chartered institution: p called upon every member ol'j
that house to divest himself of party feeling he called upon
them in the name of thejr constituents and of their country to
do so, and he would ask, if they could .lay their hands upon
their hearts in the presence of their God, and reconcile it to
their conscience in considering a question of this important
character upon partv ptineiple.s? Had the guilt of the bank
been established? Wtye all the charges brought against tljut
institution madfi ouJ? He had not seen them. The public,
however, did know something about the conduct of the bank,
and he would briefly enumerate what that was.

The bank had acted as the faithful ;><!ent. of the covernmenf
iibr.a]38t!od of seventeen years, during which time it had paid I

to that government from six to aeven per cent, annually. It
had disbursed all the draughts made upon it by government,
and distributed the depo-ites of the public money free of charge
and free of risk throughout every slate and territory of the
union. Nor had the country been a loser to the amount of one
solitary cent in any of these great transactions. These were
facts known to the world, and in the face of them he would
ask, if it were good policy to withdraw the funds from an insti-
tution like this, and scatter them over the country, scarce any
one knew where? To take them out of vaults over which the
government had complete control, and place them where it had
none. To remove them from a bank in which they appointed
directors of their own, and deposile them in others, in not one
of which they had the power of appointing a single director, or
a prospect of receiving one cent of interest for the public mo-
ney.

Of one thing the country had hitherto been assured, that
whatever might have been the conduct of the United States'
bank in regard to other matters, the public money was at least
safe in its vaults, which was more than they could assure them-
selves of at this time. He greatly feared that it would be found
in perhaps not a few of them, when the people called for their
money, that more than one hole had existed through which
the deposites had escaped, never more to be recovered. He
should be happy if his fears were groundless, but from what he
knew he could augur nothing better.

Mr. H. paid he had been sent to that house not as a partisan,
nor upon party feelings, but as a free and independent Ameri-
can citizen, who would never bend his neck to the collar nor to
the yoke. He stood before that house with the proud con-
sciousness of possessing a character that had never been known
to swerve from duty. This was perhaps much to gay, but he
would appeal to those who had long known him, and there
were some within the sound of his voice, for the truth of this
declaration. It was the duty he owed his constituents and hig
country, that impelled him to the course he should pursue on
this question. It was with pain that he found himself arrayed
against the course of the present executive, for he would say
that general Jackson had not a more ardent, zealous or sincere
friend on this floor that he had been. The whole of (Mr. H's.)
public lilt: would attest the truth of this. He had uniformly
supported all his measures, and had the greatest confidence in
his integrity. He would say more, he was still his friend and
admirer, and happy should he be if he could add, he was still
his advocate. His duty impelled him to an opposite course,
and the period had not yet arrived in this country when an
American citizen dared not differ from the president of the
United States in any matter brought before congress or the pub-
lic. He was not prepared to receive either the collar or the
yoke. He could not help expressing his regret that such terms
were drawn from him, but he would appeal to the partizans of
the president of the United States on that floor, and ask them
if instead of sending a message announcing the withdrawal of
the deposites from the United States' bankj he had thought fit
to send a message directing them to be restored, whether they
would not have lifted their voices highly and as loudly in favor
of their return as they had done in support of their removal.
He was firmly of opinion they would have done so.

The speaker called the honorable member to order. Remarks
of that character, impugning the motives of members of the
house, could not be allowed.

Mr. Heath, hoped he should be excused if he had not confined
himself within the strict rules of debate, since it was the first
time he had ever addressed that honorable assembly. HE AD-
MITTED HE WAS NOT YET CONVERSANT WITH THE RULES Ot
ORDER, AS TECHNICALLY TNDERSTOOD HERE; HPT HE HAD
BEEN ALWAYS TAUOHT TO BELIEVE THAT TRUTH WAS IK

ORDER WHENEVER IT WAS SPOKEN. He said he should not
detain the house with any further observations, but would ask
"or the reading of the memori.1l.

The clerk read the memorial; and

Mr. Heath moved that it be referred to the committee of ways
and means and printed; which motion was agreed to.

RESIGNATION OF MR. RIVES.

Washington, February 22<f, 1834.
To the hon. the speaker of the house of delegates.

SIR i have the honor to enclose a communication to the jre-
neml assembly of Virginia, which I pray you to have the good-
ness to lay before the house of delegates.

I avail myself, with great pleasure, of the occasion 10 offer
vnu the assurances of the distinenished consideration with
\rliicli I am your fellow citizen and most obedient cervr.nt.

W. C. RIVES.

Washington, 22rf February. 1 834.

To the speakers anH members of both houses of the general assem-
bly of Virginia.

I yesterday had the honor to receive the resolutions of the
general assembly of Virginia, adopted on the llth instant, in
relation to the removal of the public deposites from the bank of
the United States; and have considered them with all the re-
spectful attonlion due to the hisrh source from which they ema-
ijate, ns well as to the unusual gravity of the mutters which
they concern. Under n deep sense of the oblication of the re-
presentative to conform to the wishes and opinions of his con-
stituent^ or otherwise, to surrender tbe trust committed to

26 NILES' REGISTER MARCH 8, 1834 LEGISLATURE OF PENNSYLVANIA.

him, (which is justly regarded as a fundamental principle of our
institutions), 1 have anxiously sought the line of duty, which
the occasion made it incumbent on me to pursue.

A full and unreserved execution ot the opinions of the general
assembly, if Hie circumstances of the case permuted it, is the
alternative I should greatly have preferred, m more consonant,
as well to my own feeling* and iii<-linations, as to Hie deference
entertained for the general assembly itself. Knowing no oh-
ject more woilhy the amUitiou of liei sons ih.in 10 represent in
the congress of the United Stales the ancient and lionorahle
commonwealth \vhich has given me liirth. and to who-e favor I
am indfhtcd for whatever of consideration I may have acquired
amount my fellow rnizens, I have earnestly wished to adopt
that alternative, which would leave me still, where it has been
my pride to be employed in her service. But the resolutions
of the general assembly render this course, however, gratifying
it would be, impossible. Had those resolutions instructed me
to vote for or ;tg.un<t a specific leaislulirc net, whatever different
opinions I might have formed in my own imperfect judgment of
the expediency of the measure, I should have u It no hei-ilalion
in executing the instruction, and giving the vote required. But,
in the present instance, the instruction reqiiirrs-'the senators to
use their beat exertions In procure the adoption by congress of
proper mcusmcs for restoring the public moneys to the bank of
tile Uniled States," &.c. leaving it to be interred from the pre-
vailing spirit and tenor of the (evolutions only, what measures
might be deemed by the general assembly to be proper to that
end.

The very peneral terms thus adopted by the legislature, have
made it my duty carefully to examine the whole of the resolu
tions for the indications they furnish of its views in that re
sped. The 1st resolution, I find, declares, ''the recent act ol
thu president exerting a control, Sic. to be a dangerous and
alarming usurpation of power, by that officer, which cannot be
too strongly condemned," It would seem, therefore, that a de-
claration to that effect by congress was among the measures
deemed proper by die general assembly, and in which the se-
nators of Virginia were instructed to co operate in order to ef-
fect a restoration of the public dtposiies to the bank of the U.
States. This supposition is continued by the fact, that die only
measures proposed, or likely to be proposed in the senate, wilh
a view to that object, are two declaratory resolutions, moved
by an honorable senator from Kentucky, the first of which con
tains the declaration of an unconstitutional and dangtrous as-
sumption of power by the president, in substantially the same
language as that of the 1st resolution of the general assembly;
and the other declares the reasons assigned by the secretary of
the treasury, for the removal of the deposites, to be unsatisfac-
tory and insufficient.

The last of these resolutions, together wilh the report of the
secretary of the treasury, assigning his reasons for the removal
of the deposites, had been referred to the committee of finance
of the senate. That committee after a detailed examination of
the reasons of the secretary, and pronouncing them successive-
ly to be irrelevant, insufficient and, unfounded, conclude their
report, not with a bill or joint resolution of the two houses, di-
recting the restoration of tiie deposites, hut simply with a re-
commendation that the senate adopt the. declaratory resolution
of the senator Horn Kentucky. The chairman of the committee,
moreover, distinctly stated on the floor of the senate, that a
mere declaration by congress of the insufficiency of the reasons
assigned by the secretary of the treasury, was all thai was deem-
ed necessary to effect a restoration of the deposites, the act of
the secretary on the subject being considered by the committee
as provisional only. Similar views hud also been intimated by
the iiiover of the resolutions; and thai such is now the settled
plan of those in congress who advocate a restoration of the de-
posites, there is not in my mind, judging from the facts I have
stated and other concurring circumstances, the slightest room
for doubt.

The measure*, then, and the only measures on which I should
be called to carry into effect the instructions of the general a-
lenibly, are the two resolutions referred to and now depending
before the senate. These resolutions contain nothing but ex-
pression* of opinion ; the 1st. as already mentioned, declaring
that the act of the president in dismissing one secretary, and ap-
pointing another, was, under the circumstances of the cae, an
unconstitutional and dangerous assumption of power; the 2d,
that the reasons aligned by the secretary of the treasury, for the
removal of the dcpositcs, were insiinViant and unsatisfactory.
On both of these propositions, after the most careful and anx
iou* reflection I was capable of bestowing on the subject, I had
formed opposite opinions, which I had already expressed and
maintained on the floor of the senate. On the other hand, it is
now apparent, and not to be questioned, that the views express.
ed by the general assembly are in perfect concurrence with the
renoiutions of the senator from Kentucky pending before the
senate. I am placed, therefore, by the instructions of the gene-
ral assembly in this dilemma either to vote for the resolutions
of the senator from Kentucky, and thereby adopt as my own
Opinions which I not only do not entertain, hut which had al
ready been repudiated by rue in the most solemn form ; or, by
voting against them, to oppose the only measures likely to e.nn
before the senate lor a restoration of the deposites, and thus ap
pear in the attitude of disregarding and thwarting the. declared
wishes of the general assembly. The first branch of the alter-
native, the just and correct feeling* of the general assembly
will, I am periuadil, at once put snide as entirely inadmissible,

while the latter is no less repelled on my part by a sense of duty,
and an honorable fidelity in the discharge of the trust reposed
i me.

The only course, then, left to me, recognizing as I do ihe fun-
damental obligations growing out of the relation of representa-
tive and constituent, and winch constitute the vital principle of
the republican syMem, is, by resigning the trust with which I
have been heretoiore honored by the confidence of the general
assembly, to enable them to confer it on another, who can better
cairy their views and opinions into effect. I beg leave to repeat,
that if I had been called on to vote for a specific legislature act,
however it might have been my misfortune to differ in opinion
from the general assembly as to the expediency of the act, I
should have felt it my duty to give the vote required. But, as
under the circumstances in which I am placed, the views of the
general assembly can be carried inlo effecl only by my concur-
ring in the declaration of opinions which, as already remarked,
I not only do not entertain, but the opposite of which [ have
earnestly asserted and maintained. I do not deceive myself, I
trust, in supposing that there is no principle of obligation or pro-
priety on which I could be expected or required to do an act in-
volving equal violence to character end conscience. I have
thought it, on the contrary, more consistent with the wishes
anil intentions of the general assembly, as well as with my own
character, to resign into their hands, as I now respectfully do,
the office of senator of Virginia in the congress of the United
Stales, which lias been, and would have continued to be, my
highest piide to hold, so long as I could do so with honor.

To this communication, I beg leave to add the expression of
the dutiful and distinguished consideration with winch I am,
your fellow citizen and most obedient servant,

XV. C. RIVES.

Mr. Hires, on the 21st Feb. addressed a letter to the editor of
the " Richmond Enquirer," from which, in justice to him, we
make the following extracts:

'I am sorry that my friends should, for amoment, have given
any sort of credit to the rumor that I am going into the cabinet.
There is not. my dear sir, the slightest foundation for this rumor;
and I beg you to be assured, and to assure all my friends, that
no earthly considerations would induce me, standing in the po-
sition I now do, to take an executive appointment. Whatever
other denunciations may be poured out against me, no suspi-
cion shall rest upon the purity of my motives in the course
which, from the deepest conviction, I have pursued here. I
shall throw myself fearlessly upon the people of Virginia, to sus-
tain and vindicate the principles I have contended for in their
name. I go at once into private life, to cooperate, neverthe-
less, to the best of my ability, in the maintenance of the princi-
ples which have heretofore been cherished by Virginia, and with
the di.-tinct understanding, that I invoke tile judgment of the
people in die coming elections. The issue will thus be joined
with our adversaries in the most emphatic manner, and in the
way best calculated to arouse the vigilance of the people in the
selection of their representatives."

: I shall go upon ihe republican principle which \ve have al-
ways recognised in Virginia, to obey or resign; and my resigna-
tion, under the circumstances of the case, will be the most une-
quivocal recognition I could make of the authority of the legis-
lature. Be assured, \ shall give no countenance to the sophism
of .Mr. Southard and Mr. Frelinghiiysen, that the senator must
look to the people and not to the legislature n principle which
opens the widest door for the evasion of all responsibility on the
part of the senators of the United States."

LEGISLATURE OF PENNSYLVANIA.

GOVERNOR'S MESSARE.

Rend in the senate and house of representative!, Feb. 26, 1834.
To the senate and house ofrepresentulires

of the commonwealth of Pennsylvania.

GENTLEMEN: Recent events have produced a change in the
pecuniary relations of the commonwealth so sudden and unex-
pected, and of a character so blighting to the reasonable hopes
and expectations which had heretofore been fondly cherished,
and which, from the flattering prospects the recent prosperous
condition of the commonwealth held out to us, we had every
reason to believe would be realized, that I feel it my duty to
bring the subject before the representatives of the people, ns
claiming, in a peculiar manner, their attention, and such prompt
legislative action, as will be best calculated to meet tlie emer-

Of the loan of three hundred thousand dollars, recently mt-
thorised by the geri'-ral assembly, to meet the demands upon the
treasury, arising from the failure on the part of the holders of
the principal loan of last year, to comply with their contract,
the sum of twenty-five thousand dollars still remains undispos-
ed of; and for the balance of the last year's loan, amounting to
seven hundred and twenty- nine thousand dollars, and upwards.
which had been thrown into the market, and which it was ex-
pected would have been negotiated on the twenty-second in-
stant, I regret to say, not a bid was received. A disappointment
so extraordinary, was scarcely to have been expected, even
under the present deranged slate of the money market; hut
whilst we mav regrrt that a combination of circumstances, *o
nnpropitious and discouraging in their character, and bearing
upon the important interests of the commonwealth, should ex-
ist, it is at the same time gratifying to know, that the causes in
which they originated are not ascrihable to any depression of
the credit of the state; to any want of punctuality in meeting iu

NILES' REGISTER MAKGH 8, 1834 NEW YORK [TAMMANY] REPORT. 47

engagements, in the payment of interest upon ils debt, or to any
imsnianagemcnl on the part of those to vvlium lias ticni ciitrin-t-
ed lh charge and adiiiinuilrnlion of its fiscal and other concerns.
I infer tins I'ruin tltr liicl, that if Mich Ciiusu had existed, Mr. no-
toriety would Idii^ since, have been made manliest. It is said
by those conversant with such matters, and whose opportuni-
ties of acquiring conect information on the subject, cniiilr.-.
theni to belief, that Pennsylvania stocks are in as good credit,
and maintain as high prices in foreign markets now, as tin -y
have done at any time heretofore. To what cause then are we
to look for the difficulties which embarrass us on every side?

It must be owing to extraneous circumstances, unconnected
with lite commonwealth or its transactions, and over which it
has no control. We must be indebted, it is presumed, for this
unpropiUous state of things, to the existing excitement and
alarm, got up in relation to a supposed general state of pressure,
distress and enibarrassrne nt, said now to be prevalent in the
money market, and about which we hear so much. All confi-
dence in the currency of the country is said to be destroyed;
that banks as well as individual capitalists, are unwilling to ad-
venujru upon speculations or investments of any kind, or to
part with their money upon any terms. Various causes have
been assigned lor this alarming slate of things, all more or less
plausible. Among others il is said that the removal of the pub-
lic deposites from the bank of ihe Uniled States, by the general
government, has been the means of producing all the mischief
and pressure under which the country is now laboring; and yet
many of the friends of that institution admit, that a restoration
of the deposites is not necessary to the relief of ihe money mar-
ket. Whatever olher causes may exist, it cannot be disguised
that we have among us a powerful moneyed institution, which is
at this lime seeking, by all the means nt' which it is capable, to
accomplish certain objects indispensable to ils existence; and
having an energetic, a firm and unbending antagonist to contend
against, all its energies and all its powers (and they are of no
ordinary character) have been put in motion, to defeat his mea-
sures and to frustrate his designs in relation to it.

It can scarcely be doubted, from the course of operations that
institution has been pursuing for some time past (whether jus-
tifiable or not I will not undertake to determine), thai the state
is indebted in a great measure for its disappointments hereto-
fore, and for the failure to obtain its loan on Saturday last.
Whether by bringing indiscriminate ruin and distress upon an
unoffending community by the bank is the most certain mode
of obtaining a return of the public deposites, a renewal of its
charter, or an extension of time to wind up its business, is a
question for those who have the direction and management of
its affairs, to determine. A milder and more liberal course might
have been attended with more favorable results. The state of
Pennsylvania may be crippled and embarrassed in her pecunia-
ry arrangements, and paralysed for a time, in her efforts to com-
plete her great chain of improvements, by the depressing policy
of the bank, but that is no reason why we should despair ot the
commonwealth; our public works may languish for a season,
but will not be suffered to languish Ions; the resources of the
*tate are ample; her credit is unimpaired; her public stocks,
although under a momentary depression at home, are highly ac-
ceptable abroad, and will before long he as eagerly sought after
by the capitalist as ever; the crisis in our pecuniary affairs must
soon arrive, if we have not already reached it the clouds of
distress and despondency which have been, in my humble esti-
mation, inconsiderately and needlessly brought upon us, must
soon be removed, and a happy change and a more prosperous
era must inevitably await us.

In the mean time, tbe balance of llie old loan, for which no
offer was obtained on Saturday last, will be again placed in the
market, and continued there until it shall have been negotiated.
I would take this occasion, respectfully to recommend to the
consideration of the general assembly, the propriety of passing
a law, forthwith authorising a call upon the several state banks,
which by their chatters are bound to loan to the commonwealth
five per cent, upon their capital actually paid in, for a compli-
ance with that provision; part of this sum to be applied to the
payment of debts of the commonwealth due to contractors upon
the public works, and the residue thereof to be made applicable
lo repairs along Ihe lines of the public improvements. The
board of canal commissioners will give the necessary informa-
tion in reference to the sum that oii"hl to be made applicable to
each object. An immediate suspension of the work upon the
several lines of improvement, until the loan first mentioned
shall have been negotiated, will be indispensable. Permit me
also respeclfnlly to urge upon the consideration of the general
assembly, the propriety of authorising a loan of such a sum as
will he sufficient to finish the public works now in progress at
least; for although the prospect is gloomy, and the money mar-
ket may continue to be embarrassed for a time, yet that gloom
and that embarrassment may pass away like a mist before the
morning sun, and our pecuniary affivirs may take a turn so fa-
vorable, as to enable us not only lo obtain a loan upon advan-
tageous lerms, but also to complete the works alluded to, before

and we know not but some other* are. If not, the stale can

raise the following sum:
5 per cent, on 1'liiladi Iphia banks
do. county bunks

State temporary loan from liable banks

.:/> 1. 4:,0
203,596

728.M8

225,000

^503,048

The above sum of $503,048 can be raised from the banks, un-
less the loans which they have already made will exempt tbem.
If they are exempted, then the sum of $225,000, nliich bas al-
ready been borrowed from the country banks, must be deducted
which will reduce the sum lo little more than $300,000.

the end of the coining *c

Harrisburgh, February 26M, 1834.

The Pennsylvania Intelligencer says It will be seen that the
governor recommends to the legislature to pass a law forthwith,
obliging the, stale banks lo loan lo Ihe commonwealth 5 percent,
on their capital stock, according to a provision in their charters

when called upon. The bank of Pennsylvania U exempted

NEW YORK [TAMMANY] REPORT.

It is our desire to present different views of the great
subject which now agitates all the classes of the business
and producing parts of the American people, and, on that
principle, we give the following report.

We rather prefer, and generally do, publish such things
without comment, and though there is matter for much
discussion in this report, we shall only briefly notice some
of the points made in it; while believing that there are
parts of the argument that will not stand the test of a care-
ful investigation, by those who have studied the principles
of finance and the nature of currency. But let these pass,
for the present.

1. The facts stated, as drawn from the "Weekly Re-
gister," we then thought and still believe, were strictly
true. We will not abate one word of what we then said.
And they only show bad management of the early direc-
tion of the bank of the U. States, as stated in the leading
editorial article* in this sheet, and furnish some of the
reasons why we attacked it in 1818-19. They thought
that they had "the world in a sling," and seemed to act
accordingly; and the many hundred local "rag-shops"
assisted to heap up the misery that followed, as was then
stated.

2. AVe deny the great influence which is attributed
to the "new system of duties." It may have had some
effect at New York, as the chief place" of importation.
But the effect was local, and, in our opinion, not import-
ant. And, what extent has this doctrine 1 Look at the case
of the cargo of tea, as stated. This is an article which
our country does not produce in which we can have no
interest, unless as revenue, or in its cheapness. But shall
high duties be laid for the sole purpose of giving artificial
credits to merchants, which, indeed, have done much to
cause the "over-tradings" alluded to, by adding greatly

"circulation of values," spoken of in the last "Re-
gister," as dependent on foreign labor and production for
its amount which is an unsafe one.

3. We accord, generally, with what is said about a "pa-
per foundation, "but contend that, as is stated in the article
just above referred to, that a sound and wholesome paper
currency, (such as we have latterly had), is better and
cheaper than the use of coin.f The only thing requisite

"The editorial article was prepared before we saw the report
given below, though an after-allusion is made to it.
f A Philadelphia paper has the following
At such n crisis as this, every patriot should bring his offering
to the shrine of thejiuWtc good; and we rejoice to see professor
Hare, losing sight for a moment of the attractions of science,
to pay a just tribute, lo ihe emergency of the times. Now is
the hour, when every man should bring forward his plans for
the general welfare, and exert his talents to rescue our beloved
country from impending ruin!

These remarks have been elieted. by a pamphlet, entitled
; Proofs that credit as money, in a truly free country, is to a
great extent preferable to coin. By Robert Hare, M. D. profes-
sor, &c. Abstracted from a pamphlet, published in 1810, and
revised by the author, 1834."

This is not only an ingenious, but a powerful disquisition on th
great advantages, and stupendous agencies of credit, employed
as a medium of exchange; and a substitute for money, and wo
deeply regret that our limits prevent us from making copious
quotations from ibis sound and patriotic essay. Suffice it here
to observe, that it is this species of money which Ihe tyrannical
usurpntion of gen. Jackson ha* deslroyed, by his wicked war-
fare againsl Ihe currency, the laws anil Ihe constitution.

GEO: WOLF. Some idea of the principle? which form the basis of professor

Hare's theory, may he obtained from the following fact, that
the hank of the Uniled States, by Ibis kind of credit, accomplish
domestic exchanges to the immense amount of 240 millions of
dollars which in silver coin, would weigh twelve millions five
hundred thousand pounds, a weight which never could be re-
mitted from place to place, without an expense that would da-

stroy all profit.

29 NILES' REGISTER-MARCH S, 1834-NEW YORK [TAMMANY] REPORT.

it to regulate that currency wisely. The operations
this country cannot be performed by coin unless re-
stricted to an absolutely ruinous extent, and changes ii
the ralue of all sorts of property that -would unhinge every
department of society.

From the New York Standard.
The following interesting document was to have appeared in
<Hir paper yesterday, but was delayed for the want of some
statistical detail:). The committee explain in a note vdiy it ap-
pears without them.

At a meeting of merchants, traders, mechanics and others,
held at Tammany hall on the 19th of February, 1834, of which
the honorable Stephen Allen was president, the following per-
oni, nnim ly:

Preserved Fish, Walter Bowne,

Jacob Lorrilard, John Bolton,

Morgan Lewis, Gideon Lee,

Eldad Holmes, James J. Roosevelt, Jr.

Thomas .Suin-rn, Reuben Withers,

Abraham Van Nes, James McBride,

David Bryson, Thaddeus Phelps,

Abraham Bloodgood, John Leonard,

John W. Hardenbrook, George Sharpe,

George Douglas, Morgan L. Smith,

John Lovett, John Lozier,

Samuel Thompson, Stephen Allen,

John R. Marshall, M. M. Quackenboss,

John II. Howland. John L. Graham,

Prosper M. Welmore,

were appointed committee, "with power to confer and advise
with other constituted bodies, and to adopt measures necessary
to remove existing difficulties, restore public confidence, and
thereby avert predicted evils."

The committee having assembled at the city hall on the 21st
instant, proceeded to the consideration of the several matters
embraced in the resolutions under which they were appointed,
and after some time spent thereon, it was referred to a sub-com-
mittee, consisting of Messrs. Lorrilard, Allen, Douglas, Wet-
more, Withers, Fish and Roosevelt, to prepare a suitable report
to be submitted to a subsequent meeting. Accordingly at an
adjourned meeting of the committee, held at the same place on
the 25th initant, Mr. Roosevelt, from the sub-committee pre-
sented the following report, which having been read and dis-
cuited was unanimously adopted, and ordered to be signed by
the chairman and secretary and published in all the papers of
the city.

Having carefully deliberated on the subject, the committee,
in part discharge of their duties, would respectfully submit to
their fellow citizens, the following
REPORT.

In the performance ofa duty of such high importance, as that
which hag been confided to the committee, they have felt it
incumbent on them to enter somewhat at large into the ex-
amination of the subject contemplated by their .appointment.
They have been desirous to demonstrate, to all such at least as
do not wilfully close their eyes against the truth, the injuries
which may be inflicted upon a people by hasty and improvi-
dent legislation, and by the improper, if not dishonest adminis-
tration of institutions incorporated ostensibly for the public good.
One of the most common errors in popular reasoning, and of
which the artful and designing too often avail themselves, is the
babit of regarding whatever goes before as necessarily the cause
of whatever immediately follows. A striking illustration of this
position is to be found in the opinion now no strongly entertain-
ed by some persons, hut only used by others, that the present
pecuniary embarrassments is the effect of the removal of the
public deposited from the national bank to the banks of the
tales.

To any one who looks into the matter coolly and dispassion-
ately, it must be obvious that so far at least as this city is con-
cerned, the alleged cause of the distren has been a real cause
of its partial alienation; inasmuch as a large portion nf the
public revnue, under the former arrangement, were collected
her* to he loaned elsewhere, are now loaned here, where they
re collected.

The true causes, in the opinion of thi committee of tlie pre-
ent derangement of our moneyed affair*, are to be found prin-
cipally, first, in the unavoidably reaction always cons, qucni
upon a great and midden nxpansion of the circulating medium;
and, tecondly, in the extensive and fundamental alterations
made by the last congress both in the amount of the commercial
imposts and in the mode of their collection.

In regard to the first of these cause. its diMision, at the
present time, is mingled with so many of the elements of party
and pasion, that the more moderate portion of the community
are becoming distrustful of even the Roundest argunvno, and
the most candid statements, in any way connected with it.

The committee have d.-emed it proper therefore to refer to the
hiMorv of mioihrr period.

In the firl eighteen months of its existence, namely, during
the year 1817 and part of 1818, the bank of the United Plates,

Another fact the bank with 10 millions of specie can circu-
late credit amounting to 70 millions, or inn million', and save
the tpteit from all wear, tare and Pip* nsc .' What a transcen-
dent advantage of lound credit over hard money.

lill \VaSllniUiy IWU UIIII1U1I3, CA^^Cutu in i ( r 1111 oo IIIIIIIIMIC* ui

dollars. Every department of business, and speculation, and
living, was as a necessary consequence, stimulated to the ut-
most costly mansions were erected, and adorned with the

most expensive furniture, sumptuous entertainments were
given, and splendid equipages were set up. And every man
seemed to imagine that because credits were abundant, riches
must equally abound. The prodigality and waste of some of
our citizens were almost beyond belief. "We have heard,"
says the Weekly Register, of 1819, "that the furniture ofa sin-
gle parlor, possessed by, we cannot say, belonging to one in-
dividual, (who afterwards became bankrupt), cost forty thou-
sand dollars." In this way, according to the views of those
who looked only at the surface, the country enjoyed a state of
"unexampled prosperity." And what without any "removal of
the deposites" was the sequel of this previously brilliant drama.-
A rapid curtailment of discounts was commenced. The south-
ern and western offices were directed not to issue their notes;
the bank ceased to purchase and collect exchanges on the south
and west; and the local institutions were called upon to pay up
their balances.

These measures according to the report of its then president,
Mr. Cbeves, simple and obvious as they are, and some of them
so strangely overlooked so long, lifted the bank in the short
space of seventy days, from the extreme of prostration to a
state of safety, and even, in degree, of power; and enabled it to
defy all attacks.

"The bank," observes a judicious commentator on this state-
nent, "was saved, and the people were ruined." For a time
he question every morning, was, not who had broken the pre-
vious day, but, who yet stood? Suits, warrants and executions
took the place of bank credits. "From all parts of the coun-
try," says the Weekly Register of April 10, 1819, "we hear ofa
severe pressure on men in business, a general stagnation of
trade, a large reduction in the price of staple articles. Real
property is rapidly depreciating in its nominal value and its
rents or profits are exceedingly diminishing. Many highly re-
spectable traders have become bankrupts, and it is agreed that
many other must go the banks are refusing their customary
accommodations, confidence among merchants is shaken, and
3 per cent, a month is offered for the discount of prommissory
notes which a little while ago were considered as good as old
gold, and whose makers have not since suffered any losses to
render their notes less valuable than heretofore." Four months
afterwards, August 7th, 1819, the same journal says, "it in es-
timated that there are 20,000 persons daily seeking work in Phi-
ladelphia; in New York 10.000 able bodied men are said to be
wandering about the streets looking for it, and if we add to
them the women who desire something to do, the amount can-
not be less than 20,000." A committee appointed by a meet-
ing of the citizens of Philadelphia on the 21st August, 1819, to
inquire into the situation of the manufacturers of the city and
its vicinity reported on the 2d of October, that of thirty me-
chanical and manufacturing branches of trade, which they enu-
merated, which gave employment to 9,188 persons in 1814,
and to 9,672 in 1816, there were but 2,137 persons employed in
1819.

Here then we have a case of former days, precisely so far as
.he effect of moneyed credits is concerned analogous to the-
jresent. As mote recently in 1831 so in 1817, the flood gates
)f circulation bad been opened wide, a scene of unexampled
prosperity as it seemed, but of delusive intoxication as it really
vas, ensued.

The day of contraction, however, as we have seen, soon
came; the order for that purpose was issued from Philadelphia
on the 20th July, 1818, and by the 1st of April following, the
curtailments had amounted to the immense sum of $6,530,159.
And what then became of the unexampled prosperity, about
which, then, as now, so much has been said. Being a mere
>hantom, it vanished, as we have seen, in an instant, and uni-
versal ruin and dismay followed in its footsteps. The communi-
ty then saw, and felt, as they now feel, without seeing, and of
course, without acknowledging, that paper money, like dram
drinking, relieves for the moment by the deceitful sensation it
creates; but gradually exhausting the natural heat, leaves the
body at length in a worse state than it found it.

We have the authority of the printed statement, laid before
he stockholders by their then president, for saying that during
all this time (1817, '18 and '19), the bank had the advantage of
mmense government depositeg that at the very moment when
IIP curtailments were ordered, "the government deposites in
IIP bank and its branches amounted to eight millions of dol-
ar."

If, then, the possession of the deposites did not prevent the
contraction nnd consequent ruin of 1819, why should the re-
moral flf the deposites be the cause, under precisely similar cir-
cumstances, of the contraction and ruin ot' 1834.

The truth i. tin- removal of the drpo-it.-s, unless it he as fur-
lishins a motive for a course of me.i-ures which would not
Uherwipe have been adopted, has, as your committee believe,
tail no agency whatever in producing the present pecuniary dif-
ficulties; hut, on th contrary, has prevented their being much
greater than they are.

The committee helier* that the directors of the United Stntws'
bank, in th* enormous addition in the years 1830 and '31 of

N1LES' REGISTER MARCH 8, 1834 PHILADELPHIA (JACKSON) MEETING. 89

twenty-sight millions to the already adequate quantity of bank

facilities, (to say nothing of the very questionable design of the
measure), were guilty of a great public injury, and by thus,
themselves creating the necessity for the present curtailments,
were the real authors of by far the larger portion of the calami-
ties which they now seek to ascribe to the president of the
United States.

The second leading cause of the present commercial pressure,
will be found in the new system of duties and imports.

The influence of the late tariff acts, in bringing about the state
of things so loudly complained of, would seem to be little un-
derstood, and still loss appreciated.

To say that a partial reduction in some cases or total removal
of duties on imposts creates commercial distress, would appear,
at first blush, a paradox. But let us see its operation.

A merchant under the old system imported, we will suppose,
a cargo of tea, costing in China one hundred thousand dollars,
the duties on which, we will also suppose, were one hundred
thousand more, not payable, however, till the expiration of
twelve months. The value here then of the cargo for the pur-
pose of our argument, would be 200,000 dollars, and for that
sum hfi would of course be able to sell it for short notes of indi-
viduals, which being discounted, would be immediately turned
into so much bank paper, and added to the circulating medium.
Now take off the duty, and what was before $200,000 sinks im-
mediately to $100,000, and with it sinks the corresponding
amount of circulating medium.

The reduction of duties of the New York custom house with-
in the last months, and the consequent reduction in the

same short period of circulating credit, in this single city, has
been estimated at millions.

The evil, however, does not stop here. Of the remaining du-
ties, about millions have been made payable in cash, and

that, too, before the possession of the goods on which they are

laid, and the residue, says millions in bonds with greatly

shortened credits*

Although this part of the system has not, like the other, effect-
ed an absolute destruction of so much of the moneyed capital
of the city, yet it is apparent that it must have created a greatly
increased demand for the diminished portion which the other
had left.

In addition to these effects of the new tariff, which are per-
manent, there is another, arising merely out of the transition
from the former system to the present, which has served greatly
for the moment to aggravate the evil. The long bonds of the
old system, and the short bonds and cash duties of the new,
have fallen due simultaneously; thus concentrating, to a great
degree, the burthens of two years upon the shoulders of one.

We have thus briefly adverted to the two leading sources of
the present difficulties the sudden expansion and the sudden
contraction of the circulating medium and the radical changes,
now in a course of operation, in the amount and mode of col-
lecting the national revenues.

Overtrading also has contributed its share, not overtrading in
stocks and merchandise merely, but overtrading also in real
state. The whole neighbourhood of the city at an exorbitantly
enhanced valuation, has been literally covered with contracts,
requiring sooner or later the payment of money, and of course
augmenting, in a corresponding degree, the demand for its pos-
session.

The overtrading and speculation, however, has rather been
an effect than a cause. It resulted, necessarily, like other de-
ceptive appearances of great prosperity, from the enormous ex-
pansion of the circulating medium, and has hardly yet had time
to subside.

Havins thus ascertained, truly a? we believe, the nature and
origin of the disease under.which the community is laboring, we
feel the more confident in the suggestions we shall offer as the
remedy.

First then, admitting as we do that the hank issues had been
unduly expanded, and that a great curtailment was therefore
necessary, we insist, that to make it suddenly and rapidly, or
even at all, at a period, when other causes, as wn have shown,
are producing an unwonted demand for business facilities, is
inexpedient and unjustifiable, and on the part of the bank, whose
own previous acts created the necessity, is obnoxious to the se-
verest censure.

The curtailment, indispensable as it will ultimately be, ought,
and in the present state of our foreign exchange, may, with per-
fect safety, be postponed until the commercial operations of the
city shall have had time to accommodate themselves to the new
revenue code.

We feel ourselves warranted, therefore, in making an earnest
appeal to our local institutions to aid for the present the com-
mercial and business community, by such an extension of dis-
counts as may be consistent with their own safety.

In the second place, we would urge upn congress the adop-
tion of the warehouse system, so that importers may not be com-
pelled to pay their duties, or procure sureties for the purpose,
until they are ready to dispose of their goods.

* The committee being desirous of minute accuracy in their
statements, delayed the publication of the report with the view
of obtaining the materials necessary for filling up these blanks.
Not having been able, as yet, to procure them, they have not
deemed it necessary to delay the report longer, inasmuch as the
defect can be supplied in their future commiinisation.

Thirdly, as panic in times of pecuniary pressure, tends to dry
up the sources of credit, and thus to aggravate the mischief
which it dreads, we cannot too earnestly recommend to the
conductors of the public press, to abstain as far as practicable,
from tho.se topics and modes of excitement in which, it is appa-
rent, some of them, of late, have too much indulged.

Arid lastly, though beyond all comparison first in importance
we would recommend to all classes of our fellow citizens, U>
dismiss from their minds inflated and delusive ideas of wealth,
which never had any other than a paper foundation, and to in-
troduce into their business arrangements a system of economy
and retrenchment and diminished credits, adapted to their real,
instead of their imaginary means, and the diminished indulgence
of the new revenue code. Let them look to industry, sobriety
and frugality, and not to speculation and bank favors, as the
only safe and permanent sources of riches and prosperity.

The committee, in these suggestions, do not wish to be un-
derstood as having ceased their labors. They know, and fully
sympathise in the deep anxiety of the public mind. They per-
ceive, and feel no disposition to disguise the truth, that a severe
pecuniary pressure, the origin of which they have endeavored
to trace and expose, exists; and it will be the object of their fur-
ther efforts and deliberations to devise some plan, if possible, ir
addition to the measures already recommended, to allay excite-
ment, restore confidence, and mitigate, if not remove, the evil*
complained of. PRESERVED FISH, chairman.

JAMES J. ROOSEVELT, jun. secretary.

MEETING OP MERCHANTS AND TRADERS.
A very numerous meeting of the merchant* and trader* of the
interior, now in the city of Philadelphia, was held in the spa-
cious dining room of the United States' hotel, in Philadelphia,
on Saturday evening, the 1st of March, 1834, at which Jamet
Barbour, of Kentucky, presided, and the following resolutions
were unanimously adopted:

1. Resolved, That a national bank is essential to the prosperi-
ty of the United States; and especially to the interior of th
country, to the inhabitants of which, a sound currency, and
equal exchanges are of the highest moment.

2. Resolved] That the bank of the United States has furnished
a currency always as good, and often more desirable than spe-
cie; and has afforded all the benefits which could be desired for
trade; and that we apprehend as the greatest of evils, a return
to a state bank currency, unchecked by the existence of a na-
tional bank our experience having shown the course of such a
system, in a flood of uncurrent and irredeemable paper, and a
series of relief and stop laws.

3. Resolved, That, as under the present organization of the
bank of the United States, portions of its capital are distributed
over every section of the union, and in this way the public de-
posites are rendered beneficial to the whole country, we cannot
recognise the justice of the claim of those who demand the ex-
clusive use of this treasure for banking purposes for how can
the importing merchants pay the duties on goods without send-
ing them to us, and how can we pay for goods without vending
them again? We contend that it is not the importer or the re-
tailer, but the consumer, who ultimately pays the duties, and
therefore we prefer a national bank, with branches, that the
whole country may participate in its benefits.

4. Resolved, That the depreciation in the value of property
and produce, together with the losses and difficulties now sus-
tained in trade by the interior, are unreasonable and grievous;
and such as, if not speedily prevented, will involve the western
country in the greatest embarrassments.

5. Resolved, That the senators and representatives from tha
interior are hereby earnestly requested, as they regard the in-
terests of their constituents, to use their efforts to effect a re-
charter of the bank of the United Stales with such modifica-
tions as the wisdom of congress may devise.

6. Resolved, That the present condition of the country ii
alarming in the extreme; that the consequences to the interior,
where capital is less accumulated than on the seaboard, must be
most severe, and that the state of the nation demands imme-
diate and efficient measures of relief, without which we see
nothing but ruin to our country.

7. Resolved, That Hie present sufferings of the people being
entirely the result of human action, the means of relief are alto-
gether within the reach of legislative control, and that congress
is bound to consult the public good, and to take immediate stepi
to secure it.

PHILADELPHIA (JACKSON) MEETING.

A town meeting was held at Philadelphia, on the afternoon of
the 26th February, composed of "the citizens of the city and
county, friendly to general Jackson, and" the general policy of
the administration, but who disapprove of the removal of the
public deposites from the bank of the United States." The
meeting was large and respectable, and its proceedings orderly
and decorous. Among the resolutions adopted on (he occasion
were the following, which require no explanation:

Resolved, That, In our opinions, the present pecuniary em-
barrassments of the country have been principally occasioned
by the removal of the public deposites from the bank of the U.
States.

Resolved. That the removal of the deposites was impolitic,
because the public mind is diverted from the only questions that

30 NILES' REGISTER MARCH 8, 1834 PUBLIC MEETING AT BALTIMORE.

should occupy it, in relation to the bank, its constitutionality
and public convenience, to another, and wholly dirtl-rent sub-
ject, calculated to enlist the passions of the people, and prevent
that cool and dispassionate consideration so important a subject
demands.

Resolved, That it was also impolitic, because the public has
an interest in the stock of the bank to tlie amount of jJT, 000,000,
which has much depreciated in value by the measures com-
plained: And, because, by the embarrassment ol trade, a great
diminution of the public revenue may be expected for the cur-
rent year.

Resolved, That, in our opinions, the removal of the public
depoMtes was a violation of public faith pledged to the bank;
because, by the terms of the charter, the deposits were to be
made with it, on certain conditions, which we believe to have
been fully complied with by the bank. The last se:>sion of con-
press declared that the deposiles might be "safely continued in
the bank," and it is not pretended that any circumstance has
since arisen to make them less safe in that than iu any oilier
institution.

Resolved, That, as yet, the distress and embarrassments pro-
duced by the measure, principally affect laige cities- and inland
towns, but must soon be felt by every Class of the community.

The people of this state have always manifested a willingness
to submit to loss and privation for the sake of principle; but we
can see no wisdom or propriety in calling suffering from afar,
at an unexpected moment, that their virtues and endurance and
patience may be unnecessarily tried.

Resolved, That as from the time of removing the deposites
until the expiration of the time allowed the bank to settle, and
finally close iu concerns, a period of four years and a half would
elapse, that measure brought on the public suddenly and un-
guardedly an immediate, unmitigated, and we fear a protracted,
instead of a remote and much alleviated evil, against which the
community would have gradually and prudently prepared, hav-
ing been apprised of the Improbability ofa recharterof the bank.

Rejoiced, That we believe that the removal of the deposites
is part of a great scheme designed by some leading politicians
to destroy the present bank for the purpose of erecting upon its
ruins another bank to be located in New York for political and
speculating purposes.

Resolved, That although we have always given to gen. Jack-
son our warm and zealous support, we do not think it incom-
patible with our regard for him, and the general principles of
his administration, but the duty and privilege of freemen, to ex-
press our opinions that the removal of the public deposites from
the bank of the United Stales was impolitic, unwise and un-
necessary, and has deranged the currency and paralyzed the in-
dustry of the country.

A resolution was offered by B. W. Richards, esq. preceded by
some explanatory remarks as follows, v i/.:

Resolved, That as Pennsylvariians, we hail the bright exam-
ple of our ancient and honorable ally, Virginia; and that we are
ready with her to rally again on the doctrines of '98, in a vigor-
ous effort, to restrain the encroachments of executive power, to
sustain the rights of the slates, and the perpetuity of our union
and iu happy institutions.

PUBLIC MEETING AT BALTIMORE.

At a very large and highly respectable meeting of the signers
of the memorial to congress, and others, favorable to the resto-
ration of the deposites, convened in Monument square on Wed-
nesday afternoon, the 5th of March, at 4 o'clock, to receive the
report of the delegation which lately visited Washington with
the memorial:

His honor, judge Brice, president.

William Crawford, jr. William H. Conkling. Joseph K. Sta-

ng. J
rd, J

pleton, Samuel D. Walker, William Hubbard, Joseph W. Pat-
terson , vice president*.

Hugh W. Evans and George Rogers, secretaries.

Judge Brice having opened the meeting with a short address,
explanatory of its objects,

William Crawford, jr. esq. chairman of the delegation, on pre-
senting the report, made the following observations:

Fellow citizens: As chairman of your committee I have the
honor to present to this meeting a report which I now hold in
my hand, and while I ask for it your kind attention, permit me to
say one word for this my beloved, my adopted country. We have
arrived at an awful crisis, but one short year ha* passed from a
f tale of unprecedented prosperity, to a state of awful distress,
unexampled in the history ofour country.

I beg you to turn your eyes to the root of this evil; does there
exist a shadow of doubt fiom whence it emanated?

The constitution gives to the president veto powers, which
have been carried to great extremes, in his refusal to sign a
modified charter, pi-*i-.l la-i seinn by both houses of congress
by large majorities, asserting among.! oilier reasons that the
public money was not safe in the United Stairs' bank! Is there
a man in thin country divested of parly let-ling* w ho hulieved
it no my countrymen a national hank properly ronstiiiiini is
as necessary to regulate the exchanges ami currency of the
country and preserve a sound and healthy circulation, as the
tun i to the planetary system.

Our currency ought to be lik Cesar's wife, not only pure
but beyond suspicion. We art- told that in the early history of
our country there was a lime that turd men's souls; that lima
has again arrived; let us meet the crisis like men. I have too

much confidence in the virtue and integrity of the people to de-
spair of the republic. It is known to many of you that I have
gone for the piusidenl through evil and through good report, and
part with him now as with my lirst love. On this stand, where
I appear for (he first lime,l renounce all allegiance with un-
holy affections. The subject is fruitful, but I cannot longer de-
tain you. One word more, and I have done. Can you my
countrymen longer cling to him who is regulated by an under
current of bad advisers? Submit to this and be slaves! Again
1 answer NO.

After which David Stewart, esq. being called on by the pre-
sident, read the following report, which wag duly accepted by
the meeting.

Report of the Baltimore committee.

The delegation appointed by the meeting of the signers of the
memorial lor the restoration of the government deposites to the
bank of the United Stales, held at the exchange, in the city of
Baltimore, on Thursday 6lh of February, 1834.
Respectfully 4e leave to report:

That in compliance v.ith the duly required of them hy the
meeting, they proceeded with the memorial to the city of Wash-
ington, on Monday the 10th of February, and immediately appli-
ed ihein.se I ves to the accomplishment of the objects ol their mis-
sion. They visited gen. Chambers, of the senate, and received
from him assurances of his warm support; and the memorial
being placed in his hands, it was accordingly presented to the
senate, on the following Wednesday, with such a notice of it
as was calculated to insure it a respectful consideration from
that body. The delegation also visited Mr. J. P. Heath., one of
the representatives of the city of Baltimore. They fonnd him
actively disposed to promote the wishes of the signers of the
memorial, and, equally with general Chambers, kind and assi-
duous in his attentions to the delegation. They had also the
good fortune to enlist the regards of many members of both
houses of congress, who promised them a ready co-operation
and support.

The delegation regret that the same favor was not extended
to them by the other representative from the city of Baltimore,
Mr. Isaac McKim. From the elevated position which that gen-
tleman held as the representative, in part, of a great trading
community, himself extensively encaged in commerce, and sup-
posed to be conversant with the varied interests of the society
in which he lived, the delegation were disposed to attach some
' mportance to his efforts' in behalf of the objects of the memo-
rial. And they felt the more anxious on this score, as they had
understood that Mr. McKim had given the sanction of his name
to the opinion that the city of Baltimore had not suffered by the
recent derangement of the commerce and industry of the na-
tion: an opinion which they did not doubt ihey would effectu-
ally remove from his mind by the cogency of the evidence
which they were enabled to furnUh, under the sign manual of
so large and respectable a meeting of his constituents. Aiid it
is due to Mr. McKim, to say, that in his interview with the de-
legation whatever might have been his former opinions he
no longer doubted the reality of the distress in the city of Balti-
more. The fact Mr. McKim admitted, and also acknowledged
that, in his judgment, the removal of the deposites was a wrong
aud injurious measure. This conviction, however, he intimat-
ed could not change his course in reference to the subject of
the removal. His remark was "that the act was done; and that
he should therefore, nt all hazards vote with the government."
The reason assigned by him for this determination was, that he
had some influence with ihe execuiive which he might turn to
the advantage of his constituents, ami that he did not wish to
lose this by differing with the executive in opinion. Moreover,
thai he was elected to support gen. Jackson, and would do so at
the risk of his life and fortune: that no friend of the adminis-
tration could differ in opinion with gen. Jackson, and prt serve
his influence, thai any attempt to advise gen. Jackson, by his
friends, would be met with an expression of displeasure, and ris
an instance of this, Mr. hilih had once attempted it, and wa
told, in consequence "when the president wanted him he
would send for him."

With these sentiments, Mr. AfcKim seemed particularly anxi-
ous to avoid bring asked to present the memorial intimating,
lhat if he were to present it, it would operate d, his disadvant-
age, and also saying, lhat he would be expected to present the
counter memorial, which was then preparing in Baltimore.

These declarations on the part of Mr. McKim, even if the
delegation had designed to request him to present the memorial
in the house of representatives, ami many remarks of a similar
import, sufficiently indicated to the delegation that they had
nothing to hope from his services, and they, accordingly, for-
bore to hold further intercourse with him on the subject. Indeed,
from a gentleman holding a position in society which gave him
every privilege of Independence, and invested also with a public
station an the representative of an intelligent and patriotic com-
munity, who have always ben accustomed to expect, and ready
to applaud (he exercise of an upright and independent judgment

by their official servants the delegation were not prepared to
hear eniii'essed mieh complete submission to the views, present
and future, of the executive; nor did they believe, until now,
that th<- requisitions made by the executive upon its supporters
were of so exaeiina and rigorous a character, ns seemed to be
inferred by the objection of Mr. McKim especially as they had
recently seen many evidences, in both houses of congress, in
which some of the most devoted followers of the party in power
were not ufraid to do justice to their own constituents, in the

NILES' REGISTER MARCH 8, 1834 PUBLIC MEETING AT BALTIMORE. Si

presentation of memorials that certified tin: public distress even
to the ear of him who claims to be the government.

It was therefore with a more satisfied feeling, mid with more
confident assurance, of efficient aid, tlml tin; deh salion betook
tln:msi:lves to Mr. Heath, whom they now determined to solicit
to lay the memorial before the house of representatives. This
gentleman presented that document to the house, on Monday
the 17th, and recommended it by a speech which has since ap-
peared in the public journals, and which has won him the thanks
of his fellow citizens a speech that glows with the fervor of a
manly mind, and evinces a spirit that cannot be warped from its
duty either by the fear of executive denunciation, or by the
hope of preserving, through blind obedience and servile submis-
sion, a share of executive favor.

During their stay at Washington, a part of the delegation took an
opportunity to call on Mr. Tuney, the secretary of the treasury.
They were received with the courtesy natural to that gentleman;
and in the course of an audience of half an hour, were enabled
to hear his views on the subject of the present difficulties of the
country, and the course which the executive branch of the go-
vernment was likely to pursue. Mr. Taney remarked, that the
bank had arrayed itself against the government, and that the
government would not yield : that the impression of the govern-
ment was, that the evil the people complained of, grew out of
the great power of the bank: that the government was making
an experiment and, however bold, he would not undertake to
advise any change from the position it had assumed against the
bank: that he, (the secretary), found no difficulty in trans-
mitting funds from one part of this extensive country to the
other. In the course of this conversation one of the delegation
remarked to Mr. Taney, "Sir, if this experiment should be
persisted in, and some relief such as we do not now antici-
pate should not be given, a targe proportion of the tradinc com-
munity must fail." The secretary replied " [f all did fail, the
policy of the government would not be changed." He proceed-
ed to say, " that if the commercial classes had properly sustain-
ed their state institutions, the present state of things would not
have existed, "^-adding, "that the government would make no
change until the present bank charter expired." He also ex-
pressed his surprise " that, after what had appeared in the news-
papers, and the long speeches made in congress, more failures
had not taken place."

By an arrangement procured through the attention of Mr,
Heatk, the delegation were enabled to visit the president. They
thought it a part of their duty to make this visit, and to lay be-
fore the chief magistrate such information as might exhibit to
him the actual state of affairs in this community. The time
appointed for the interview was at eleven o'clock on Wednes-
day, and, accordingly, at that time, seven of the delegation re
paired with Mr. Heath to the residence of the president, where
they were severally presented to him; and after a few minutes
during which the president was engaged with other viMlers, the
chairman of the delegation addressed the president in the fol-
lowing terms:

"General, you arc, no doubt, aware, that this committee has
the honour to be delegated by the citizens of Baltimore, with
out regard to party, to come to you, sir, the fountain head,
to make known the distressing situation of the currency of th

country, and respectfully to ask, from you, relief,"

" Relief, sir!" interrupted the president in a tone of excite
ment! " Come not to me, sir! Go to the monster! Did no
Nicholas Biddle come here, sir, and on his oath, swear before r
committee, that with six millions in his vaults he could mee
tho wants of the whole people? And now, when he has wran
more than ten millions from the people, he sends you to m
for relief. It is folly, sir, to talk to Jlndreui Jackson The go
vernment will not bow to the monster!

"Sir," said the chairman "the currency of the country is i
n dreadful situation. The state banks have not confidence in
each other: they cannat give trade the facilities required,
have recently travelled to and from the Falls of Ohio to Haiti
more, and can assure you, sir, I have heard but one opinion o
this subject. We are your friends not politicians, I have al
ways been, up to the present moment, a decided friend of you
administration." Here, the president, in a very angry tone o
voice, interrupted the chairman, by saying

"Sir, you keep onu-sided company. Andrew Jackson has fift
letters from persons of all parties, daily on this subject. Sir
he has more and better information than you sir or any of you
Andrew Jackson published his opinions in September last,
am surprised that yon thus talk to me, sir ! It is folly: you woul
have us like the people of Ireland, paying tribute to Londoi
that already gets a large amount annually from this count'j
extorted from the laboring part of the community. The failure
that are now takina place are amongst the stock-jobbers, broker-
and gamblers, and would to God, they were all swept from th
land! it would be a happy thing for the country.

"Sir," said the chairman, "all my experience goes to sho
that there is no money more cheerfully paid by the merchan
and people of this country than interest bank interest m
such interest as they now pay say two and a half per cent, t
collect a sight draught drawn in Baltimore on Pittsburgh."

"Sir," replied the president, "I had, last night, any amour
of money offered me on good security, by a gentleman froi
New York, at six per cent. They are, sir, men who have ove
traded that are now pressed. The real capitalists of the coui
try felt the pressure last September and October, when tl
monster first put the screw down. Did not the monster dra

om the south and west, last fall, thirty-five millions? For
hat, sir? To oppress the elate liank> in your city, Philadel-
lia, New York and tio.-ton. l!ut slndre," Jm-k^on tort-saw
bat they were about, and met tlieni. Sir, I could have de-
royed the monster in thirty days but tlie president would not

it not wishing to bring distress upon the people. Jt^dreta
ackson invited a compromise with the mammoth they would
ave nothing to do with me, and now, sir. I will have nothing

1 do will) them. The restoration of the depo?iies is virtually
renewal of the charter, one and the same thing."

The chairman answered, "The people, sir, have not under-
tood the character of the president, it he is unwilling to hear
teir calls and demands."

Here, in a vehement manner, the president exclaimed ''The
eople! Talk to Jlndreui Jackson, fir, about the people! The
eople, sir, are with me. I have undergone much peril for the
berties of this people, and Andrew Jackson yet lives to put his
>ot upon the head of the monster and crush him to the duel."
Sir," interrupted the chairman again, "the country has tried
our measures ihuy will not do. They will ruin two-thirds of
he good trading men of the country. You have bled us we
re sick, fainting and dying, one after another."
"The mammoth, sir," replied the president in a violent rage,
'hns bled you! When I put him down, sir, the other money-
d institutions will meet all the wants of the people. It is folly
ii the extreme, to talk to me thus, sir. I would rather under-
;o the tortures of ten Spanish inquisitions than that the depo-
ites should be restored, or the monster be rechartered."
"Sir," said the chairman, "as there is no general relief to be
ad, direct the public money now in the state bank, in our city,
ack to the branch of the bank of the United States, and they
will at once give Baltimore relief."

"Talk not to me, sir, about your branch!" exclaimed the pre-
ident, "did they not send in nine thousand dollars of their ille-
gal lulls or checks to the bank, the first day! Let them make
nother move on the board, and Andrew Jackson will check-
nate them. Let them turn the screw again, and I will make
hem feel the power of the executive, by returning on them ten
millions of dollars of their illegal checks now in circulation."
"1 hope, sir," said the chairman, "you will be able to demon-
trate how the country is to pay upwards of fifty millions of dis-
counted paper now due to the bank of the United States, with
a metallic currency but little over twenty millions."

The answer was "Go, go to the monsttr! and only the
other day, sir, what did the monster do? Disputed with the ex-
ecutive the right to the pension fund?" At this time, the presi-
dent had grown into such a rasie, that no object was to he gain-
Hi by attempting to prolong the discussion, and as several of
he delegation had already manifested their wish and their im-
patience to close the conference, the members of the delegation
withdrew.

The delegation have endeavored to report all that passed at
this interview as accurately as possible. They have employed,
as far as their memory has allowed them, the exact words, "that
were used on both sides, and have set nothing down which was
not distinctly within the recollection of some of their party;
whilst, at the same time, they believe they have omitted no-
thing of importance to the illustration of the opinions which
the president endeavored to express, except one assurance
from the president which, upon reviewing what they have de-
tailed above, they now supply. In the course of his remarks
on the state of the question before the country, the president de-
clared, that he meant to try the present experiment with the
state banks, until the period of the expiration of the charter of
the bank of the United States; and that if it then should be
found not to answer, some other plan would be resorted to.

This concludes all that the delegation have to report of th*
sentiments of the president.

Soon after this interview, the delegation returned to the city
of Baltimore. They deem it unnecessary to comment upon
the incidents of their visit to the city of Washington. The
above narrative, faithfully detailing all that passed as nearly as
it was possible for the delegation to report the same, will afford
every citizen of Baltimore the menus of making up his own
opinion in regard to the probable duration of the present state
of things.

The delegation see no reason to despond. They have confi-
dence in the wisdom and integrity of the nation, and believe
that misrule, whether it be produced by passion, or by error of
judgment, cannot long go uncorrected amongst an intelligent
and patriotic people.

WM. CRAWFORD, jr.
HUGH BIRCKHEAD,
G. BROWN,
J. W. PATTERSON,
GEO. R. GAITHER,

w. c. SHAW,

WM. <;K VHAM,

JNO. BROWN HOWELL,

Thereupon John P. Kennedy, esq. rose and addressed the
meeting in an eloquent and appropriate speech, and concluded
by offeiing the following resolutions, which were duly second-
ed by S. D. Walker, esq.

I. Resolved, as the opinion of this meeting, that the long avow-
ed hostility of president Andrew Jackson against the bank of
the U. States an hostility which has pursued its object with
a bitterness increased by every failure of its purpose has en-
gendered a temper thai wholly incapacitate!) him for wise coun-

WILES' REGISTER MARCH 8, 1834 PUBLIC MEETING AT BALTIMORE,

sel in reference to that institution; his course, towards it, has
consequently been marked by passion and private resentment,
rather than by the sound precepts or public good.

That, having, in a period of profound tranquillity, when the
great mass of the community neither saw the abuses alleged
against the bank, nor feared its power, brought it within the
circle of executive denunciation, and marshaled the forces of
party to act against it: And when, nevertheless, it was still so
much a favorite with the country as to obtain the vote of con-
gress in favor of the renewal of its charter, his greater anger
was kindled against it, and a system of warfare was adopted by
him for its overthrow, which has been characterised by an acri-
mony unknown in the annals of our political history. That, in
the course of this warfare, he has resorted to every expedient
within his reach, to injure the credit of the bank, and impair its
means of fulfilling its engagements to the nation thereby evinc-
ing a reckless spirit of persecution, more resembling personal
hatred than official zeal.

Thai, in the headlong fervor inspired by these feelings, goad-
ed and exasperated by disappointment, he has forgotten the
constitutional limits of his own power, and for the purpose of

inflicting punishment upon his victim, he has unlawfully seized
upon the public treasure deposited in the vaults df the bank,
under the obligation of a contract, for which the honor of the
nation was pledged, and has distributed this treasure whereso-
ever, in his judgment, the convenience of the public, as he in-
terprets it, requires.

That in the performance of this act, he has, under the pretext
of power, conferred upon him by the constitution, assumed and
adopted a principle which involves a dangerous violation of the
duties of a good magistrate; a principle that has been developed
in the act of discarding a secretary, who held his office at the
executive pleasure, because that secretary refused to obey the
will of the president in a matter not within the president's su-
pervision, but exclusively confided to the secretary by law; and
then substituting in the place of the conscientious, but "refrac-
tory subordinate," another, better inclined to obey his behests;
thus inculcating the mischievous political doctrine that the pub-
lic functionaries can only expect to hold office upon the terms
of unqualified obedience to his wishes.

That, in the removal ofthe deposites, he tins disregarded the
clear, plain and almost prophetic warnings as to the fatal effects
of the measure, of the councillors whom the laws had placed
around him, and in opposition to their wholesome advice, has
rushed, with precipitate and most pernicious haele, to the ac-
complishment of his will.

That, in the same act, he has endeavored to bring into con-
tempt the authority and reputation of congress, by forestalling
the action of that body on the subject, and menacing the exer-
cise of his veto upon any attempt it might make to restore the
nation to its former attitude; thus, after many illusory profes-
sions of respect for the majority of the nation, actually threat-
ening to shelter himself in the exceptionable powers conferred
upon a minority.

That, in like manner, he has derogated from the importance
and value of the co ordinate branches ofthe government, by the
tone with which he claims to consider the government as only
tii-iiii^ in himself and the officers of his cabinet.

That, relying upon the great and overwhelming popularity
which a past renown has conferred upon him, and which has
begotten towards him a man-worship altogether unbecoming
the cilizens of a free republic, he has been emboldened to pur-
ue his passionate and self- willed career, in the idea that the peo-
ple will sustain him in whatever he chooses to propose. In this
spirit he ha* declared that, "he assumes the responsibility of the
removal ofthe deposites" aiming, by this declaration, to rally
the people around him, and to transfer the question of an inde-
fensible and pernicious measure into one of party and personal
attachment.

That the bank of the United States having, by a strict and
compulsory compliance with the policy dictated to it by the pre-
sident, conclusively demonstrated the evil consequences of that
policy; and from tho constrained position which has been forc-
ed upon that institution, severe calamity and not unforeseen
diater having ensued the responsibility for these evils mutt
fall upon the head of him who assumed the responsibility; and it
ii but little compatible with the moral courage, which ha< licen
claimed for the president, that he should shrink, in the moment
of difficulty, from his accountability for the result, and seek to
throw Hint accountability upon the bank. He has indeed de-
clared that much of the di-a>ter now experienced was not only
looked for by him, but that it is also in accordance with hi's
wihcs. If. however, more distress than he expected has re-
united, that fact alone should admonish him to restore the coun-
try to its original happy condition, by a magnanimous retrac-
tion of his error. The glory of never retracing a step, is both
an obstinate and wicked pride, incompatible with the character
of a wi*e nnd uprisht statesman.

That TUT. r.XI'F.HIMKNT of creating a sound currency,
through tin: innlrumf ntalitv of associated state banks in which
experiment tin present j, ;l< announced his determination to
pereiM is one that has heretofore been fully tried and univer-
sally deplored: it is an experiment which was then proved, ami
will bn proved again, to be fatal to the public prosperity, and if
n>d in will goon redoubling and perpetuating the ca-
lamities of the nation. Political wisdom, even more than pri-
vate, is but conducted bv the experience of history. Not less
objectionable is the experiment of banishing a mixed paper and

specie circulation, and substituting for it a metallic currency.
In such a community as ours, it is a visionary and impractica-
ble expedient; and even if practicable', a mischievous scheme
that would be attended with such distress as would speedily
cause it to be exploded as a gross absurdity. Whichever, there-
fore, of these two opposite and incongruous experiments the
executive designs eventually to rest upon whether that of a
state bank currency, which must be depreciated by expansion,
or that of the precious metals, which must do its mischief by
contraction they are both equally unworthy of a wise govern-
ment.

That the hitherto prosperous and eminently happy condition
of the country rendered all such experiments not only unwise,
but unjust; and the attempting them argues a disposition in the
executive to trifle with the best ami dearest interests of the
community. The effect of all measures which tend to embarasg
the currency, inasmuch as they operate upon the relations of
debtor and creditor, and produce frequent changes in money
values, is peculiarly afflictive to the poor and laboring classes.
These disorders, by the destruction of credit and confidence
that inevitably attends them, deprive labor of its proper reward,
drive it from its lawful employments and make sad inroads upon
the welfare of every man who subsists by his daily toil; whilst
at the same time they prepare a bountiful harvest of profit for
those who, free from the cares of earning their subsistence,
have capital at hand to take advantage of the wants of the
needy. They emphatically make "the rich richer, and poor
poorer." The system, therefore, proposed by the president, is
conspicuously entitled to be called "the industrious and the la-
boring man's curse."

II. Therefore resolved, For all these reasons, this meeting
utterly reprobate the policy lately adopted by the president of
tbe United Slates, in regard to the removal of the deposites; and
they solemnly PROTEST against the exercise of the powers by
which he has attempted to effectuate his purpose. And the
members of this meeting pledge themselves to use all lawful
means within their command to rescue the country from the
consequence of Jhis misrule.

III. Resolved, That this meeting have full confidence rn the
good sense, virtue and love of country of their fellow citizens
throughout the union, and trust securely in the beKef that, as
the eyes of the people are opened to Hie true character of the
measures of their public servants, the nation will effectually
vindicate the integrity of the constitution in the enforcement
of a strict account and due responsibility from those who- ad-
minister the gnvernment.

IV. Resolved, That the thanks of this meeting be accorded!
to gen. Chambers, of the senate, nnd James P. Heath r of the
house of representatives, for their prompt and zealous ceopera-
tion in the views of the signers of the memorial, lately presented
by them to congress; and that the grateful acknowledgments
ofttail meeting are due to the delegation whose report has been
read this day, for their able and efficient services in the dis-
charge of the duty assigned to them.

V. Resolved, That this meeting entirely and unhesitatingly dis-
approve ofthe conduct of Isaac MeKim, esq. one of the repre-
sentatives from this city; and that they perceive, in his course,
a subserviency to the views of the executive, altogether irrecon-
cileable to the exercise of a manly freedom, and incompatible-
with the duties ofthe representative at' an enlightened and 1 free
community A subserviency that is calculated to surrender the
independence of congress at the footstool of executive power-
as degrading in the one, as it is dangerous in the other.

VI. ResoU-ed, That a committee of thirty-one citizens be ap-
pointed by the chairman of this meeting, (of which committee
the president of this meeting beclmm>tan),to net as a committwe
of safety, and that they be authorised to take such measure*
as they may deem -necessary to promote the objects of thi*
meeting.

VII. Resolved, That these resolutions be printed in the publie-
newspapers,and that a copy be sent by the secretary to each of
the senators and representatives of the state of Maryland in>
congress.

The question being propounded by the president to the meeting
on the adoption of the resolutions, they were carried by an al-
most unanimous vote, some two or three voice* only dissenting.

After this, the meeting adjourned about sundown with three
hearty cheers. The chairman then appointed the. following gen-
tlemen as the committee of safety of thirty-one, in pursuance to>
the foregoing resolutions:

William Crawford, jr.

Talbot Jones,

George Brown.

Jacob Albert,

Joseph W. Patterson,

James Wilson,

John B. Howell,

John McKim,jr.

William C Shaw,

William Hubbard,

George R. Gaithcr,
Hugh Birckhead,

Joseph K. Stapleton,
W. H. Conklinc,

William Graham,
David Stexvart,

Reverdy Johnson,
John P. Kennedy,

George Rogers,

H.W.Evans,

Samuel D. Walker,

Jonathan Meredith,

Matthew Kollv,

Peter Leary,

Gen. Wm. McDonald,

James Corner,

Job Smith, jr.

James Biays, jr.

J. V. L. McMahon,

R. D. Burns,

(Signed)

f? \V F*V*K!I 2

N. BRICE, president.

GEORGE ROOERS, $**"

JVILES' WEEKLY REGISTER.

FOURTH SEUIES. Ne. 3 VOL. X.] BALTIMORE, MARCH 15, 1834. [VOL. XLVI. WHOLE No. 1,173.

THE PAST-^THE PRESENTFOR THE FUTURE.

EDITED, PRINTED AND PUBLISHED BY H. NILE8, AT $5 PER ANNUM, PAYABLE IN ADYASCE.

We have, by a moderate computation, about five hun-
dred articles and items of information, remaining on the
table, which ought to be inserted or noticed !

The occasional debates which take place in congress
on the presentation of petitions, are very interesting,
much more so than the regular debates usually are; but we
cannot pretend to keep pace with them. We have, how-
ever, made some extracts from certain remarks of Messrs.
Webster and Clay, when the memorial of the builders of
Philadelphia was offered in the senate.

We publish, at full length, the report of the commit-
tee of ways and means of the house of representatives,
sustaining the reasons assigned by the secretary of the
treasury for removing the public deposites, and intend,
in our next, in like manner to offer the dissent of the mi-
nority of that committee. Perhaps, these are the only
long papers that we shall be required to publish on this
subject for some time but these are of a character which
demands a place.

To record the various proceedings had in consequence
of the derangement of the currency, &tc. is impossible; and
even to mention the whole, is impracticable. A large
part of the people of the U. States is much agitated, and
an extraordinary excitement prevails and meetings for
and against a restoration of the public deposites are yet
being held in many places. The latter, we regret to ob-
serve, are called with entire reference to party politics,
in many cases. Those in favor of the restoration do not
make such a discrimination, and are attended by many-
strong friends of the executive, at different places.

The report of the Pittsburgh committee who visited
Washington, and waited on the president, has been some
time before us. It very closely corroborates the reports
of other like committees, and, indeed, goes beyond them
in some important respects. It is laid aside for preser-
vation.

A great movement is making in Massachusetts. A
petition for the restoration of the deposites had been sign-
ed by 6,700 citizens of Boston,* and it was thought the
number would be much increased; and one of the largest
meetings ever held at Fanueil Hall was assembled, at
which many resolutions of a decided character were pass-
ed, one of which appointed a "committee of safety" of
thirty. Another appointed a delegation to hear the peti-
tion to Washington, the chairman of which is Mr. ~ip[>le-
ton, late the member of congress from that city.

But neither the excitement, nor the pressure, has yet
nearly reached the extent to which both will proceed.
Every da}' adds failure to failure, misery to misery, and
reduces the means of the most solvent persons. Many
men, as yet, pay their debts by exhausting their fortunes,
in sacrifices to perserve their credit! A member of the
legislature of Massachusetts lately said, in his place that
$2,500,000 had been paid, in that state, for extra interests
since the removal of the deposites. We think that this
is less than the truth, in a community so eminently com-
mercial as the state named. It is our opinion, derived
from several conversations with persons who ought to
know, that the daily amount of shavings in Baltimore
amounts to 100,000 dollars. It is, of all sorts, more than
less that sum. The average is not less than 3 per cent.
a month, including brokerage, and other charges, such as
in the borrowing of tmciirrent money, etc. and the shaving
of payable- post checks. The legal rate of interest is the
half of one cent, on the dollar, per da}- the present rate
three cents: 100,000 dollars, at a per cent, per dollar,
is 500 dollars, at 3 per cent. 3,000 difference in a month

*The professions of the signers are added that they may be
found. Of the 6,700 there were 3,200 mechanics, manufacturers
and laboring men, 2,300 merchants and traders the iet of
other occupations, professional men, &c.
VOL. XLVI 610. 3.

of 30 days. $75,000, or, for four months, 300,000 dollars.
But the dealings in Jialtimore are not a tenth part of
those of Massachusetts; and besides, Baltimore seems as
yet to have suffered less from the pressure than any other
place of business east or northward of this city, for our
people had been taught caution in the school of adversity,
and not yet forgotten their lessons. We then easily be-
lieve in the fact stated by the gentleman of Massachu-
setts; and yet there is no dealing people on the face of the
earth better able to pay their debts, in ordinary times,
than the inhabitants of that industrous and thrifty and
economical commonwealth. The scarcity of money, or
want of confidence in Baltimore, may be gathered from
the rates of exchanges. The bills of as good banks, at
home, to say the least of them as our own, have these
rates New England bank" notes 3 per cent, discount,
New York, (country and safety fund) 5, unless of Al-
bany which are at 3. Pennsylvania, even if payable at,
or received by the banks of Philadelphia, (but not de-
positable in our own banks), 1 to 2; others, (good banks) 3
@ 5 percent. District of Columbia ^ to 1; Virginia 2 per
cent. South Carolina 3, North Carolina, Georgia, Loui-
siana, Alabama, and other states south and west, "no
sales," or at from 7^ to 10 percent, discount. But the
"safely fund" banks, at New York, have a rate of dis-
count that does not exceed 1^ per cent, if the average
amounts to so much and a good many of them are really
at par, in that city, at this time.

The preceding facts are not stated to injure the credit
of the banks alluded to, for most of them may be as
sound as other banks are; but for the simple purpose of
sliewng the pressure for present means, with the want of
confidence, that prevails in this city.

It is with much regret, and only in a sense of duty, we
must add that on the 8th inst. we sold a note of the Sus-
quehannah bridge and bank company, issued by the office
in this city, at 10 per cent, dissount, and that, on the
13th, we saw them refused by a broker at that rate, when
present and getting other notes shaved. They were al-
together rejected. But the failure of this institution,
though distressing some individuals, cannot have any
sensible effect on the Baltimore banks, generally, and
their credit ought not to be in the least impaired, from
the circumstances mentioned.

[It is said that the redemption of the bills of this bank
will soon be commenced, and that the whole issue will be
paid. We shall derive much pleasure in stating the fact
to the public.]

We have an official statement, and intended to publish
it this week, shewing the condition of the bank of the U.
States on the 1st October, 1833, and 1st March, 1834,'
from which we can only give the following summary
statement, at present.

Loans. Depositet.

October 1, 1833, 60,094,202 93 17,877,298 36

March 1, 1834, 56,157,829 86 9,947,363 54

October 1, 1833,
March 1, 1834,

3,926,373 07
Circulation.
19,1-28,189 57
18,523,189 00

7,929,934 82

Specie.
10,663,441 51
10,385,439 15

605,000 57 278,002 36

This shows that the reduction of the loans has not
been, by upwards of four millions of dollars, as great as
the reduction of the deposites, and yet the bank is blamed
for causing the pressure. Money was yet plenty in Oc-
tober last why then is it scarce now?

Mr. Chambers in reply to Mr. King of Geo. in the
senate of the United States on the 10th inst. (the latter
having said that he had heard nothing of distress among
the people, or violation of the law by the president, until
he heard of them on that floor, &c. ) made a reference to

N1LES' REGISTER MARCH 15, 1834 MISCELLANEOUS.

Mr. Duane's letters to the people now publishing, and
aid that on the 10th of July last, Messrs. Ihiaiie and
JUcLutie " sounded in the president's ear the warning
voice of caution, and foretold, with prophetic accuracy,
the results of his mischievous experiment. "

Mr. Duane's letter to the president of the 10th of July,
(verv recently published), plainly says that the remo-
val of the deposites would be regarded as an "extreme
and arbitrary measure," and lie also, with wonderful
certainty, foretold the deranged state of the currency and
pressure on the people, that would follow it. No man
now could describe the existing state of things more
clearly than Mr. Duane predicted them, in his formal
letter to the president of July 10, 1833.

The "Globe" of Monday last asserted, as on the au-
thority of Mr. Taney, that the statement made by the
Baltimore committee of the conversation of a part of that
committee with him was misrepresented; on -which
Messrs. William Crawford, jr. George Jiro-wn and Joseph
W. Patterson (the other gentleman who waited on Mr.
Taney, Mr. Gaither, being absent) addri ssed a note to
Mr. T. asking whether the editor of the "Globe" had
his (Mr. T's) authority tor the assertion that he had
made; and, receiving no answer, they published their note
to Mr. T. on Thursday last, affirming, over their own
proper signatures, the accuracy of their statement. And
vesterday morning there was published a long private
letter of Mr. Taney to a gentleman of Baltimore, dated
on the 10th, in which he observes, "1 cannot undertake
to say whether 1 did or did not use the words imputed to
me. But if they were used they were applied to the ge-
neral ruin which the mercantile community should wil-
lingly bring on itself by creating a panic for party pur-
poses." This is sufficient for a general view of the state
of this matter. We cannot go into particulars.

It is probable that the most animated political contest
which has happened in the state for many years will
take place in Virginia, in the ensuing month, when the
members of the legislature are to he chosen. The strong-
est men, on both sides, are being brought out, and each
party will exert itself to the utmost. It is said that both .of
the great parties in the legislature will publish an address
to the people. Parties in this state seem to have nearly
settled down into a Jackson and Van Buren party, and
an anti-Jackson and anti-Van Buren party; all minor
questions being merged in the success or defeat of the
individuals named.

In the city of New York, the election of charter or
corporation "officers, takes place on the second Tuesday
of next month. These are very important, because of
the disbursements and patronage of the government of
that great city. The "independent republicans," are
making much preparation to encounter the "Tamma-
nies" and, warmed with the hope of success, though the
odds have been so much in favor of the latter, the former
are rallying their strength and organizing themselves with
all diligence. While the Evening Post charges it upon
the "independent republicans" that some individuals are
giving from 100 to 1,000 dollars to carry on the business
of the election, the Evening Star asserts that all per-
sons in public office have been ordered to pay up an as-
sessment, at a rate equal to the highest that has ever been
imposed upon them; which we have heretofore heard
was ten per cent, on the whole amount of a year's salary
or feesf

At a meeting in favor of the bank, held in Vermont,
Mr. JHeech, late "Jackson" candidate for governor, pre-
sided -and at another held at Princeton, X. J. John C.
Schenck, esq. recently one of the most distinguished
friends of the administration in that state, took a leading
part. Such tilings are of frequent occurrence and so
they should be. It is an act of great violence to force a
eoniideration of the state of the currency, into the tran-
sient and turbulent upg and downs of political parties.

Hundreds of new meetings of the people have just been
held or called to be held, in different parts of the union,
but most numerously in New Jeriwy, Pennsylvania anil
Virginia, on account of the distressed state of the coun-
try. Oo th 20th inst. there is to be a grand meeting of

Lhe people of the city and county of Philadelphia, at which
it is recommended thai the different trades shi.ll appear
w ith their banners and badges and that the store-keep-
ers close their stores, for the afternoon.

Gov. Wolf's veiy sudden change of opinion, causes
much speculation in Pennsylvania. The Pittsburgh
committee, who called at Harrisburgh, on their way to
Washington, a short time ago, reported that his former
good opinion of the bank was unchanged.

On the 8th inst. Baltimore bank notes were at ^ per
cent, discount at Pittsburgh and on the same day Pitts-
burgh bank notes were at 3 per cent, discount al Balti-
more both being equally good, at home! The time be-
tween these cities is less than 3 days, or, going and re-
turning, with one day to make the exchange, say s-eveu
days, or exactly a half per cent, per day on money be-
tween the two places or 182^ per cent, per annum!
This is a pretty state of things but it prevails in all parts
of the union. There was, and, perhaps, yet is, a tariff of
exchange even between Albany and Troy, five miles
apart, the banks in each being equally good ! But the con-
dition of things within the state of New-York s>eems to
be generally improved.

We observe that the somniferous paper read by the
honorable* and "honest" Isaac Hill in the senate cham-
ber, (but not to the senate, for friends and enemies
"cleared out" to avoid the punishment of hearing it),
has been published in the "Globe" as Mr. Hill's speech,
into which the writer or reader has introduced some ex-
tracts from the REGISTER of 18'20, in relation to the
bank. "Hezekiah Niles" sees not one word in the ho-
norable arid "honest" gentleman's quotation that he will
retract for every word had respect to then existing
facts, and \v hat seemed to be the manifest intentions of
those who then had charge o\er the affairs of the bank.
We just take the liberty, however, to say, that in his
comments on the extract presented, the honorable and
"hontst" gentleman says some things that are not true.
But "that's not/ten," as major Downing would say and
"some things are so despicable," as Mr. Senator Clayton
said, that we must pass them over.

As the honorable and "honest" senator is pleased with
"extracts," we shall give one or two out of many in our
possession, which we find marked as from the .TV. Hamp-
slure Patriot of 1 824 and we guess that they are "ge-
nuwine" for they have been repeatedly published as
such, and we never heard their verity denied:

"General Jackson, in the state of Pennsylvania, now
finds those only opposed to his election, who defended
his honest but indiscreet zeal, iv/ien he tiampled on the
civil authority, by arresting the United Stales' judge,
and other citizens at J\fcu> Orleans, and telien /te seized
itnd executed Jirbnthnot and Jimbrister, in Florida; he
has there changed friends, combining what with the ho-
nest portion of the community who gaze with admiration
at his military prowess, what -with abortion of men ambi-
tious for place and preferment , and what with THAT PAR-
TI who care not -who they support, so that they make mis-
chief, AND BREAK UP THE REPUBLICAN PARTY, a llOSt in

that state, which will probably outnumber the friends of
any other presidential candidate."

"We love our civil rights and privileges too well to
place Jackson in the presidential chair. H'e do not like
to be hanged without "rhyme or reason."

Now, will the honorable and "honest" senator, who
has "waxed fat" on mail contracts and hea\y feedings at
the public crib, stand by what he said, as we are ready
to stand by what we said' 1 The administration of the
bank when placed in new hands, relieved it from those
causes for censure which w r e thought it well deserved
but how is it with the facts urs;ed by Mr. /////against
general Jackson? Have Arbuthnot and Ambrister, for
example, been restored to life, as the bank, under its new

*VVe hav italiciied the word "honorable" hivaiiM' that Hie
"New Iliitiip.-liiri- I'ainnt" ot the 'M .May. iN'iU, lur inslaiicr,
h.ul his name KW times, in different e^ays and mini with HIM
prefiimre; anil in uvo columns of tlini paper ofthfi 10th of the
same iiinnth. his name was u*p(l 42 tiirtfg, several of which
were in flaming eapiials, and, perhaps, all manufactured by Ins
own honoralle and "honest" self.

NILES' REGISTER MARCH 15, 1884 CONGRESS.

direction, was reformed? and proceeded to accomplish
the purposes lor wliicli it was dcsignt (I, in tlie establish-
ment of a sound and wholesome currency ? VVe p refer
not these things against the president but refer to tliern
for the sole benefit of the honorable and "honest" sena-
tor who said more against gen. Jackson, personally, in
the little paragraphs quoted, than is contained in all the
forty-five capacious volumes of the REIHSTKH, as written
by us there is more pure malignity and caucus-slavish
abuse in it, than we ever extended towards an individual,
(for we seldom indulge at all in personalities, unless in
the lex taltonis); but Isaac Hill cannot complain that we
have "returned his compliment" extract against extract.

On Monday next it is probable that Mr. Webster will
bring out his project concerning the bank prefer! ng a
renewal of its charter, with certain modifications. A ge-
neral discussion in the house on the report of the com-
mittee of ways and means (inserted in the present sheet),
will also soon be going on.

A gentleman of Soutli Carolina, remitting his payment
for the UKGISTEH, says, "I am the only union man in this
village, and have often been insulted by being told that it
was because I read old Niles' paper. I fear, and am sor-
ry to say that more has been done [by"the government"],
in the last four months to promote nullification, than ever
before was done for it."

The National Intelligencer of the 12th says The pre-
sident yesterday re-nominated to the senate the three per-
sons lately rejected as government directors of the bank
of the United States. The reasons which he assigned to
the senate for this unusual step, if any, werer communi-
cated in confidence, and are of course unknown to us.

Mr. Leigh the new senator from Virginia, made his
first speech on the 12th inst. It was a brief one of
some 30 or 40 minutes; but is said to have fully sustained
the high reputation which he has long borne at home,
and had preceded him to the senate. What a constella-
tion of talent is now collected in that body, though it
contains some very small men !

ITEMS.

The frigates United States and Constellation suffered
much damage in a severe gale, on the 14th Dec. and
were in great danger of being lost, but they got into
Milo, where they were repaired, and had since arrived
at Malta on their way to Mahon.

It does not appear that the difficulties in Alabama are
yet adjusted. It is said that the removal of the while
settlers have been commenced by the U. S. officers.

At last, a representative has been chosen in the 9th
congressional district of Massachusetts. Mr. Jackson,
anti-masonic, has succeeded by a small majority of all the
votes; and, as on all leading questions that has been or
are before congress, Mr. J. declared that he coincided
in opinion with gen. Dearborn, the late representative
many of the friends of the latter, to end the contest at a
crisis so important, cast their votes for Mr. Jackson.
There are yet three vacant seats in congress 'that which
is contested by Messrs. Letcherand Moore, the one made
vacant by the decease of Mr. Bonldin, of Va. and the
other by the resignation of Mr. Bullard, appointed a
judge of the supreme court of Louisiana.

We much regret to hear that the cholera has reappear-
ed in some parts of the west, bordering on the Missis-
sippi.

There have recently been several great fires at New
York. This city has very many buildings fair to the eye,
like "painted sepulchres," but made up of the most com-
bustible materials within, as well as many frame edifices,
built in a hurry, to accommodate the rush of popula-
tion and to have a dozen or two of these burnt down at
a time, is no extraordinary affair, in the want of water
to extinguish the flames, let the valuable firemen do all
that they can. About 50 families, of the poorest classes,
were dislodged by one fire on the evening of the lUth
instant chiefly natives of Ireland.

The Corkonians and United Irishmen, laborers on the
canal, have had a terrible fight at New Orleans, in which
several were killed and wounded, when the riot was sup-

pressed and many of the rioters arrested to answer for
it. We wish that these people would leave their abomi-
lable local hatreds of each other, as well as their much
cherished desire of appealing to force, behind them.

LOWER CAXA DA. The dissensions between the colonial
legislature and the governor-general Aylmer and the
royal government at home, have risen to a great height.
Early in last month, a set of resolutions, nearly one hun-
dred in number, was moved, forming a sort of declara-
tion of rights of the people of Canada, and concluding by
>roposingjo expunge from llie journals of the house the
Jespatches of Mr. Stanley, the British colonial secretary,
and the 'impeaching; of the governor-general. They wtr
"jrought up for discussion on the 15th, ult. and debated all
hat day and the next. All substitutes were rejected by
>verwhelming majorities, and late in the night of the 16th,
fifty-five of the resolutions were agrees! to without oppo-
sition. The whole probably passed as reported. The
esolntions adopted contain a call for conventions of the
jepple. The results of this bold attitude which the
louse have assumed, must be important to the future re-
ations of the colony with Great Britain.

In one of the resolutions it is significantly remarked,
:hat the population of the United States will, in twenty
years, be equal to that of Great Britain, and that of the
British North American colonies will, in the same period,
be equal to that of the United States when they declared
their independence.

Upper Canada is also in a state of high excitement.

Two or three great nests of counterfeiters of bank
notes have been broken up. The extent to which this
Business was proceeding, is truly astonishing. The in-
crease of banking institutions will giv it a new impetus.

FOREIGN NEWS.

From London papers to the 28<A and Paris to the 3lst January.

FRANCE.

A duel was .fought on Ihe 29ih January, between gen. Bu-

aud and M. Dulong, two members of the chamber of deputies.
Tin; seconds of gen. I!, were gen. Rnmigny and col. Lamy, and
those of the latter, M. George Lafayette and col. Bacot. The
duel resulted in the death of M. Dulong. There had been seve-
ral oiher duels between students of medicine, one of which also
proved morlal to one of the parties.

The French journals are equally severe with the English, in
regard to the conduct of the president of the U. States on ihe
subject of the currency of the country. They say lhat no con-
stitutional, or absolute monarch would have dared lo commit
uch an oulrage upon llie laws.

SPAIN.

Marlinez de la Rozo had been nominaled to succeed M. Zea,
the prime minister. This nomination gives universal satisfac-
tion and the best anticipations are indulged in for the success
of the monarchy under his guidance. The national guard had
been reorganized, Ihe government reserving lo ilself the choice
of the officers. The entire military force of the country i to
consist of 120,000 men.

The most important feature in the present aspect of Spain,
. the contemplated re-tireanizalion of ils government The
conez, it is understood, will not be convoked; but instead of
it a representative government established, consisting of two
branches. Two-thirds of llie upper branch is to consist of the
nobility, and one Ihird of the higher orders of the clergy. The
lower branch is to consist of 250 members, elected from the ci-
ties, towns and villages.

TWENTY-THIRD CONGRESS FIRST SESSION.

SENATE.

March 7. Mr. McKean presented the petition of 2,500 or
3,0t)0 citizens of Lancaster county, Pennsylvania, praying lor a
return of the public deposited to the hank of the U. Slates. On
which Mr. Webster rose and expressed much satisfaction at
this movement of the agriculturalists of that rich and populoui
county. This memorial came from the agricuhural interest,
and he said it was the "real lion of the country."

Mr. Ewinn offered a series of searching resolutions at) t
condition ol ihe posl office department.

Mr. McKean presented the petition of 613 citizens of Manet-
la. Pa. praying for a restoration of the deposings.

Mr. Cl<iiiton offered the following resolutions, which 1
dav on the table:

UitV lll IHC IH1IIC. . . f

Resolved, That the postmaster general be directed to inform
the senate, how many, and what postmasters, clerks and oth
a.Tiits iii his department, have IIPPII hy him removed from
oiti.-r, since the 3d day of Marrh. 1R-29; also, to stale the name*
of those who havv be-n appointed in lien of the [H>slroa*tr si:
removed, their places of residence, and to furnish tin
letters, or copies thereof, addressed to him as postmaster ge-
neral, communicating the political character of those removed,
or those who have been appointed to supply their places.

N1LES* REGISTER MARCH 15, 1834 CONGRESS.

Resolved, That the postmaster general be directed to com-
municate to the senate a copy of any and every circular, or or-
der, to bis deputies, directing them, or any of them, to transmit
to his department the names of the newspapers taken at their
respective offices, or the names of the subscribers to such news-
papers; and generally to state whether his department receives
quarterly returns of newspapers taken in the United States, and
the names and places of residence of their subscribers.
Mr, Webster rose, and addressed the senate as follows:
I rise, sir, to perform a pleasing duty. It is lo lay before the
senate the proceedings ol a meeting of the building mechanics of
the city and county of Philadelphia, convened ibr the purpose
of expressing their opinions on the present state of the country,
on the 24th of February. This meeting consisted of three thou-
land persons, and was composed of carpenters, masons, brick-
makers, bricklayers, painters and glaziers, lime burners, plas-
terers, lumber merchants and others, whose occupations am
connected with the building of houses. I am proud, sir, that
so respectable, so important, and so substantial a class of me-
chanics, have entrusted me with the presentment of their opi-
nions and feelings, respecting the present distress of the conn
try, to the senate. I am happy if they h;:ve seen, in the course
pursued by me here, a policy favorable to the protection of their
interest, and the prosperity of their families. These intelligent
and sensible men, these highly useful citizens, have witnessed
the effect of the late measures of government upon their own
concerns and the resolutions which I have now to present,
fully express their convictions on the subject. They propose
not to reason, but to testily; they speak what they do know.

Mr. President, the members of this meeting liave not trans
milted their proceedings by mail, nor have they rested satisfied
with merely causing them, in any way, to reach the two houses
of congress, and to be read and disposed of in the ordinary
manner. They have forwarded them by a committee of thirty
persons of their own body, and those thirty persons are now
within the wall, of the senate. I wish, sir, that honorable se-
nators would converse with these gentlemen; 1 wish they
would use the opportunity of satisfying themselves of their in
telligence, their fairness, their freedom from the influence o
all oblique or improper motives, and the unquestionable trull
of the existence of that distress, which they come here to rcpre
sent. Such a communication would convince honorable mem
bers, that there is no pretence, no fiction, no exaggeration, in
the whole matter; but that all their words are words of trutl
and soberness.

[Mr. Webster then urged the necessity of action to reliev
the distresses of the people and said]

Sir, listen to the statement; hear the facts. The committee
stale, sir, that eight thousand persons are ordinarily raiptyyef
in building houses, in the city and county of Philadelphia;
number which, with their families, would make quite a cousi
derable town. They further state, that the average number o
bouses, which this body of mechanics has built, for the last fiv
years, is twelve hundred houses a year. The, average cost o
these houses is computed at two thousand dollars each. Her
is a businss, then, sir, of two millions four hundred tkousan
dollars a year. Such has been the average of the last five years
And what w it now? Sir, the committee state that the busines
lias fallen off seventy-five per cent, at least; that is to say, thai
at most, only one-quarter part of their usual employment nox
remains. This is the season of the year in which building con
tracts are made. It is now known what is to be the businei-
of the year. Many of these persons, who have heretofore had
every year, contracts for several houses on hand, have this ye;
no contract at all. They have been obliged to dismiss tlm
hands, to turn them over to any scraps of employment the
could find, or to leave them in idleness, for want of any em
ployment.

[Mr. W. then went into some detail to shew the former ope
rations of the builders of houses, which were almost totally de
troyed by the "experiment" now going on; and then saidj
These, sir, are plain matters of fact, and they are manifest!
the resulu of the measurus of government; and have not thes
mechanics, then, a right to complain. Ought they to hold the
tongues, and starve, in order to enable the secretary lo try h
experiment? Are they to be ihe willing victims of such fanta.
tical and arrogant schemes? No, sir, that is not their notion f
patriotism and duty. They think the government was eslah
lished for them, and the rent of the people of the United Stale
for their protection, security and happiness. They think it IK
a subjecl for Ihc practice of every raw conceit, every presum
tiious theory, every impulse of arrogant and self-sufficient lov
of change. Sir, they are not the dupe* of Ihe secretary's exp<
riment; and, if they can help it, they do not intend to be its vu
limit. They know full well in what purpose ihe-e measure
originated, which have since obtained Ihe name of the "expe
riment." They think they have a right to demand of congre
not to sanction such purposes, to their ruin. As American <
tizenx, they demand the shelter of the laws; as tn x- payers
government, they demand the protection of government; as ii
duslrious citizens, they demand security for their industry; ai
they protest, oleinnly protest in tlirir name, sir, in their b
half, in their presence, I now enter their protest aeninst that
unnecessary and wanton measures, wliieh destroy their propc
tv, break up their employment!, and reduce them and the
children to want and beggary!

Mr. Wtbsler concluded as followi:

Sir, the agitations of the country are not to be hushed by ao-
ority. Opinioas, from however higb quarters, will not quiet
em. The condition of the nation calls for action, for mea-
ures, for the prompt interposition of congress; and until con-
ess shall act, be it sooner or be it later, there will bs no con>-
nt, no repose, no restoration of former prosperity. Whoever
upposes, sir, that he, or that any man, can quiet the discort-
nts, or hush the complaints of the people, by merely saying,
tieace, be still!" mistakes, shockingly mistakes, the real con-
lion of things. It is an agitation of interests, not of opinion?;
severe pressure on men's property and their means of living,
ot a barren conlesl about abstract sentiments. Even, sir, the
oice of party, often so sovereign, is not of power lo subdue
iscnnienu and slide complaints. The people, sir, feel great
iterests to be at stake, and they are rousing themselves to pro-
cct those interests. They consider the question to be, whe-
icr the government is made for the people, or the people for ths
ivernmeiit. They hold the former of these two proposition?,
id they mean to prove it.

Mr. President, this measure of the secretary has produced a
.agree of evil tiiat cannot be borne. Talk about it as we will,
t cannot bu borne. A tottering stale of credit r cramped means,
oss of property and loss of employment, doubts of the condi-
011 of others, doubts of their own condition, constant fear of
lilnrcs and new explosions, an awful dread of the future sir,
vhen a conscioMsnuss of all these things accompanies a man,
t his breakfast, his dinner and his supper; when it attends him
rtrongh his hours, both of labor and rest; when it even disturbs
nd haunts IMS dreams, and when he feel?, too, that that which
s thus gnawing upon him is the pure result of foolish and rasb
measures of government, depend upon it he will not bear it. A
leranged and disordered currency, the ruin of occupation, dis-
re#s for present means, the prostration of credit and confr-
lence, ami all this without hope of improvement or change
slate of things which no intelligent people can long endure.

Mr. Clay rose and said: I have been requested by the com-
mittee from Philadelphia, charged with presenting the memo-
rial to congress, to say a few words on ihe subject; and although
after the ample and very satisfactory exposition which it has
received from the senator from Massachusetts, (Mr. Webster),
urther observations are entirely unnecessary, I ca.mot deny
nyself the gratification of complying with a request, proceeding
rom a source so highly worthy of respectful consideration.

[Mr. C. then proceeded to show the effect of the measures of
the government on the state of the country, and ottered an opi-
lion that the value of property in the United States had bees
reduced by them, in the great amount of four hundred millions
of dollars, a sum which would be less than half the real
amount, were ihe property of the people placed in the market,
and to be sold, as we believe. UKO.]

Mr. Clay next asked

And what is the remedy to be provided for this most unhappy
state of the country? I have conversed freely with the members
of the Philadelphia committee. They are real, practical, work-
ing men; intelligent, well acquainted with the general condition,
and with the sufferings of their particular community. No one,
who has not a heart of steel, can listen to them, without feeling
the deepest sympathy for the privations and sufferings unneces-
sarily brought upon the laboring classes. Both the committee
and the memorial declare that their reliance is, exclusively, on
the legislative branch of the government. Mr. President, il is
with subdued feelings, of the profoundest humility and mortifi-
cation, that I nm compelled to say that, constituted as congress
now is. no relief will be afforded by it, unless its members shall
be enlightened and instructed by" the people themselves. A
large portion of the body, whatever may be their private judg-
ment upon the course of the president, believe it to be their
duty, at all events safest for themselves, to sustain him without
regard to the consequences of his measii-cs upon the public in-
leresls. And nothing but clear, decided and unequivocal de-
monstrations of the popular disapprobation of what has been
done, will divert them from their present purpose.

But there is another quarter which possosses sufficient power
and influence to relieve the public distresses. In twenty-four
hours, the executive branch could adopt a measure which
would afford an efficacious and substantial remedy, and re-es-
tnblish confidence. And Ihose who, in this chamber, support the
ad ministration, could not render a better service than to repair lo
the executive mansion, and, placing before the chief magi-irate
the naked and undisguised truth, prevail upon him to retrace his
steps and abandon his fatal experiment. No one, sir, can per-
form that duty with more propriety than yourself. [The vise pre-
sident] You can, if you will, induce him lo change his course.
To you, then, sir, in no unfriendly spirit, but with feeling-* soft-
ened and subdued by the deep distress which pervades every
class of our countrymen, I make the appeal. By your official
and personal relations with the president, you maintain with
him an intercourse which I neither enjoy nor covet. Go to him
and tell him, without exaggeration, but in the language of truth
and sincerity, the actual condition of his bleeding country. Tell
him it is nearly ruined and undone by the measures which he
has been induced lo put in operation. Tell him that his expe-
riment is operating on the nation like the philosopher'* experi-
ment upon a convulsed animal, in an exhausted receiver, and
that it must expire, in agony, it he dues nol pause, give it free
and sound rireiil.itum, and suffer the energies of the people to
be revived and restored. Tell him that, in a single, city, more
than sixty bankruptcies, involving a loss of upwards of fifteen

NILES' REGISTERMARCH 15, 1834 CONGRESS.

millions of dollar*, have occurred. 'I'd! him of the alarming
decline in the value of all properly, of the depreciation of all the
products ol industry, of the stagnation in every branch of busi-
ness, and of ttie close of numerous manufacturing r.-iahlUli-
inents, which, a few short months ago, were in active arid flou-
rishing operation. Depict to him, if you can find language to
portray, the heart-rending wretchedness of thousands of the
working classes cast out Of employment. Tell him of the tears
of helpless widows, no longer able to earn their bread, and of
unclad and unfed orphans who have been driven, by bis policy,
out of the busy pursuits in which but yesterday they were gain-
ing an honest livelihood. Say to him that if firmness be honor-
able, when guided by truth and justice, it is intimately allied to
another quality, of the most pernicious tendency, in the prose-
cution of an erroneous system. Tell him how much more true
glory is to be won by retracing false steps, than by blindly rush-
ing on until his country is overwhelmed in bankruptcy and ruin.
Tell him of the ardent attachment, the unbounded devotion, the
enthusiastic gratitude, towards him, so often signally manifest-
ed by the American people, and that they deserve at his hands
better treatment. Tell him to guard himself against thfi possi-
bility of an odious comparison with that worst of the Roman
emperors, who, contemplating with indifference the conflagra-
tion of the mistress of the world, regaled himself during the ter-
rific scene in the throng of his dancing courtiers, if you desire
to secure for yourself the reputation of a public benefactor, de-
scribe to him truly the universal distress already produced, and
the certain ruin which must ensue from perseverance in his
measures. Tell him that he has been abused, deceived, betray-
ed, by the wicked counsels of unprincipled men around him.
Inform him that all efforts in congress to alleviate or terminate
the public distress are paralyzed and likely to prove totally una-
vailing, from his influence upon a large portion of the members,
who are unwilling to withdraw their support, or to take a course
repugnant to his wishes and feelings. Tell him that, in his bo-
som alone, under actual circumstances, does the power abide
to relieve the country; and that, unless he opens it to convic
lion, and corrects the errors of his administration, no human
imagination can conceive, and no human tongue can express,
the awful consequences which may follow. Intreat him to
pause, and to reflect that there is a point beyond which human
endurance cannot go; and let him not drive (Jiis bravo, generous,
and patriotic people to madness and despair.

Mr. President, unaffectedly indisposed, and unwilling as 1
am to trespass upon the senate, I could not decline complying
with a request addressed to me by a respectable portion of my
fellow citizens, part of i\:i> hone and sinew of the American
public. L.ike the senator from Massachusetts, who has been
entrusted with the presentation of their petition to the senate, I
found them plain, judicious, sensililn men, cli'arly understand
ing their own interests, and, wilh the rest of the community,
writhing under the operation of the measures of the executive.
If I have deviated from the beaten track of debute in the senate,
my apology must be found in the anxious solicitude which I
feel for the condition of the country. And, sir, if I shall have
been successful in touching your heart, and exciting in you a
glow of patriotism. I shall he most happy. You can prevail
upon the president to abandon Ins ruinous course; and, if you
will exert the influence which you possess, you will command
the (hanks and the, plaudits of a grateful people.

The memorial was then referred.

After other business, Mr. Clay ro=e to present the four roso
lutions that follow, and pronounced come, strong observations
in support of them which cannot be made room for:

1. Resolved, That the constitution of the United States docs
not vest in the president power to remove at his pleasure offi-
cers under the government of the United States, whose offices
have been established hy law.

2. Resolved. That, in all cafes of offices created by law. the
tenure of holding which is not prescribed by the constitution,
congress is authorised by the constitution to prescribe the ten-
ure, terms, and conditions on which they are to be holden.

3. Resolved, That the committee on the judiciary be instruct-
ed to inquire into the expediency of providing hy law that in all
instances of appointment to office by the president, by and with
the advice and consent of the senate, other than diplomatic np
pointments, the power of removal shall be exercised only in
concurrence with the senate, arid, when the senate is not in
session, that the president may u&peud any such officer, com-
municating his reasons for the suspension to the senate at its
first succeeding session; and. if the senate concur with him, (he
officer shall be removed, but if it do not concur with him, the
officer shall he restored to office.

4. Resolved, That the committee on the post office and post
roads be? instructed to inquire into the expediency of making pro-
vision by law for the appointment, by and with tin: advice and
consent of the senate, of all deputy postmasters, whose annual
emoluments exceed a prescribed amount.

March 10. Mr. Silsbee presented the resolutions of the le-
gislature of Massachusetts in relation to the currency and re-
moval of the deposites; and, at fonsiderable length and witt
much ability, set forth the deranged state of business in conse-
quence of the proceedings of the executive of the United States.
He said that commission merchants declined not only the
usual guaranty on sales, but refused to make advances. He
mentioned the cae of a cnrao from the south worth 3,000 dol
lars, subject to n freight of 500, in cash, which was surrendered
to the ship owner that he might make hi* freight out of it. He

said that lie daily heard of failures, and that 70 had taken place
in one late flourishing town in Massachusetts. He spoke of the
manufacturers and other working people discharged^ He said
that six months ago, the legal rate of interest for large sums of
money could not be obtained, though now worth from 3 even to
5 percent, per month! [We wish that we could make room
lor this speech of a practical man.]

Mr Webster followed, and observing that his colleague had
left him little to say concerning the resolutions, &c. took the
opportunity to speak of the necessity of rechartering the bank,
for which the committee of finance had agreed upon apian to
be laid before the senate on Monday next; and he gave it
out as his opinion that congress ought not to adjourn until some
measures were adopted to relieve the people.

His idea was that the present bank, with some few modifica-
tions of its charter, should he continued for a short time, and so
as to leave the question open as to the establishment of a new
one; or to renew the charter lor a number of years with other
modifications, among them to prevent the issue of notes of a
less denomination than of 20 dollars, &c. But as we shall have
the plan next week, the want of room will excuse us from
giving a report of his speech now.

Air. Forsylh followed and expressed his surprize at the idea
thrown out, that congress would sit until the distresses of the
country were relieved, by the gentleman's plan for rechartering
the bank. Would the senate compel the other house and the
executive to acceed to his proposition? He expressed an opinion
fovorable to a bank, if the rate of interest was fixed at 5 per
cent, and the power of the state governments over it were duly
secured, and the power of the general government over it was
:nade greater, &c.

Mr. Webster replied at considerable length, and the debate
was continued, by Messrs. King, of Geo. Chambers, Forsyth and
Webster.

Mr. Bell had leave of absence for three weeks. Adjourned.

March 11. Mr. Prentiss presented a memorial from Bur-
ington, Vt. praying for a restoration of the deposites, and spoke
at considerable length on the subject at large; he was lollmved
by Mr. Stcift, who described the derangement of business in
Vermont, and the distress that prevailed, aggravated, as it is,
by tlie failure of the grain crops last season.

Mr. Clay took an opportunity to correct certain things as to
the petition from Troy for a restoration of the deposites. He
referred to Mr. Wright, who, had said, on the information of a
member of the other house that only 100 of the signers were
friendly to the administration. Mr. Clay read a letter dated
the 6th instant, sa\ ing that by a critical examination, recently
nuide, there were at least 400 signers who are, or have been
administration men, &c. Mr. Wright explained he had not
made Hie remark on his own knowledge, and spoke warmly
as to the integrity: of his informant, but supposed that some
nistake may have been made, &.C.

Mr. Freiinghnysen presented the petition of 454 citizens of
Patcrson, N. J. praying for a return of the deposites, on which
occasion he offered a brief statistical state of tne business of
that town, and said that 5,130 spindles, which had annually
consumed 2,200,000 Ibs. of cotton, were stopped, owing to the
pressure of the times. Mr. F. also presented a memorial from
Patcrson and its vicinity, signed by 600 persons, approving of
the removal of the deposites and a long debate followed.

Other business attended to will appear in its course.

March 12. Mr. McKean presented three memorials, one from
a meeting of tin-plate workers, sheet iron workers and copper-
smiths, of the city of Philadelphia, one from the citizens of the
borough of Southwark, Pennsylvania, and the other from a
meeting of citizens of Carlisle, in the same state, on the subject
of the pecuniary embarrassments of the country, which the me-
morialists ascribe to the removal of the deposites from the bank
of the United States, and severally praying for their restoration.
The memorialists, Mr. McK. said, so far as he was able to as-
certain, were highly respectable, and consisted of persons with-
out distinction of party. He asked that the memorials be read,
referred to the committee on finance and printvd; which was
done accordingly.

Mr. Leigh presented the memorial of sundry merchants, me-
chanics, professional men and others, of the city of Petersburg!],
in the state of Virginia, on the subject of the pecuniary embar-
rassments of the country; which the memorialists ascribe to the
removal of the public deposites from the bank of the United
States; and praying congress to take such measures as will af-
ford them redress.

Mr. Leigh accompanied the presentation of the memorial with
some appropriate remarks; after which, he asked that the me-
morial be read, referred to the committee on finance and print-
ed.

The memorial having been read, a debate ensued, in which
Messrs. Forsyth, Leigh and King, of Georgia, took part; when
the question was taken, and the memorial referred, nem. con.
to the committee on finance, and ordered to be printed.

The senate then resumed the consideration of the special or-
der, being the resolutions of Mr. Clay, and the report of the se-
cretary of the treasury on the subject of the removal of the puh-
lir deposites from the bank of the United States; when

Mr. Tallmadfe, who was entitled to the floor, commenced
his remarks, and addressed the senate until three o'clock; nnd
then the senate adjourned.

March 13. Mr. Webster presented a memorial numerously
signed by the people of Brooklyn, New York, and aluo the pro-

SS WILES' REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS.

ceedings of a public meeting of the citizens, asking for a resto
ration of the pnhlic deposited. Mr. W. read me oi" tlie resoln-
fions of the mee-liiiij, containing some Mrong remarks in support
of the constiiinionalily of a hank of the United Stales.

Mr. Sjiraue presented two memorials one I'riini East port
anil the other from Lubec, Maine, praying for a restoration ol
llie de po.-ites, &c.

Mr. Tyler presented two memorials, from the towns of Fal-
moulh and Frederieksbnrgh, anil the proceedings of a meeting
held in Afcomaek, Virginia, with reference to the public dis-
tress, and pi ay ing for a restoration of the deposites. A debate
ensued, in which Messrs. Tyler, BTOWH, Leigh, Forsyth, Web-
ster, Preston and Ewing took part.

The other business attended to will sufficiently appear in its
progress. Adjourned.

BOUSE Or REPRESENTATIVES.

Friday, March 7. The whole of this day was given up to the
consideration of private or local business, and a large number
of bill* for the relief of individuals were ordered to be engrossed
or passed.

Adjourned until Monday.

Monday, March 10. This being the weekly day for present-
ing memorials, ie. and the consideration of the resolutions of
the Virginia legislature, presented last Monday, being the morn-
ing business first in order

Mr. Ghohon, who had the floor, was about to address the
house, but yielded his right for the present, at the request of

Mr. J. Q. Jldanu, who asked leave to present certain resolu-
tions of the legislature of MassachusetU on the subject of the
removal of the deposites, stating, that, if the leave were grant-
ed, he ehould, in accordance with the rule or understanding in
such cases, abstain from any remarks on the subject of the me-
morial, and take some other opportunity of expressing his sen-
timents on it.

Mr. Gholson, (who was entitled to the floor on the Virginia
memorial, lying over from last Monday) signified his assent to
Mr. A's request; but, objection being made by some other mem-
ber, the leave was not granted.

Mr. Ghokon took the floor, and addressed the house, in ex-
tenso, in support of the resolutions of his state, nnd particularly
in reply to Mr. Pattern** argument on the other side.

Mr. Moore,, of Va. followed, in an animated speech, on the
same side.

Mr. Pinckney, of S. C. noil addressed the house, also in sup-
support of the resolutions, and continued to speak until half
past three, when he yielded to a motion for adjournment.

All three of these gentlemen went occasionally into very se-
vere animadversion upon the course of the administration in
reference to the depositrs.

The house then adjourned.

Tuesday, March 11. Many bills of a private nature were re-
ported, and a great deal oflocal or private htmnrsi* attended to.

Mr. Mami, of Mass, asked the consent of the house to pre-
sent certain resolutions of the legislature of his state. Objec-
tion being madp, he moved to suspend the rules for this purpose.

Mr. R. M. Johnson suggested that, if the motion were made
general, so as to admit of the preseiilation of other resolutions
and memorials, it would be more, likely to be generally voted
for.

Mr. Jtiams consented FO to modify his motion.

The question being twice put, and no quorum voting, lie
withdrew his assent to modify, and renewed the motion in its
original form.

The question being once more put, it was negatived ayes
70, noes 56, (not two- thirds.)

Mr. Jlrtker offered, by leave, the following resolution, which
was agreed to.

Rtsolced, That the committee on foreign nffairs be instructed
to inquire into the expediency of purchasing the library and the
official private manuscript pipe/s of gen. Washington, to be
deposited in the department of state.

The army appropriation bill was rend by sections. In the
course of the proceedings

Mr Everett moved an additional clause to the bill, including
$1,825 for surgeon Rcaumont, in performing a series of experi-
ment* on the stomach of a wounded soldier, in illustration of
thr process of digestion. The appropriation had been recom-
mended by the surgeon general. Allowances were made to of-
ficer; of the line for extra services, hut this could not be done to
Burgeons unless by express provision.

Some objection being made by Mr. Polkund Mr. Jone,ofGco.
Mr. Erf reft said, that thii soldier had been placed under the
rare of siirzenn Beaumont; and he had cipended upwards of
5,000 out of his own pocket, in the process of measures by
which hi* life had been saved and prolonged. He might, no
doubt, have Ip.fl the man to die, but because he acted, first from
humanity, and then from the love of science, and had thereby
succeeded, not only in saving his patient, hut in presenting tlie
mot curious and valuable results in aid of the groat objects of
the surgical department f the army, was he to be refused Fiich
it pitiance this, when it was recommended by the head of the
surgical staff?

Mr. McDuffie supported Mr. R's proposition. Mr. Chilian rr-
presed hi hearty concurrence in these views. The house vot-
d thousands upon thousands to reward persons who had killed
men; but in ihi< rx*p. not only hart the life of a man been pre-
served, but facts discovered and plans suggested, which might

lead to the saving of millions of human lives. Mr. Jones still
objected, and s;.id, this surgeon was paid by the month, and had
tixi.-ii niiiuns. \\~as not all he had done included in the duty
lor which he was paid?

Mr. Crockett rose. Gentlemen objected to paying for experi-
ments; but in these days, when we were trying experiments on
the currency, why not try experiments on tlie sciences? Though,
for his part, he thought it was hardly necessary to make any ap-
propriations at nil, lor this, or any tiling else. He had been al-
most ready to go against all appropriation bills, till he knew
where the money was. If one man in the country could take
all the money, what was the use of passing any bill about it? It
was a mockery it was childish, to sit there and appropriate at
all. If one man could take the money, and put it where the
law had not placed it, how did the bouse know where it was?
How could they tell but it might be in his royal majesty's pock-
et, or in the pocket of that imp of famine, his 4th auditor. The
money was not where the law put it, and who knew where it
was? He would vote for one experiment, but he should for cer-
tain vote against the other.

The quesiion was now put, and the amendment proposed by
Mr. Everett agreed to ayes 80, noes 53.

Other amendments being made, the committee rose, reported
progress and had leave to sit again, Adjourned.

Wednesday. March 12. This being the day to which the con-
sideration ot the report of the committee of ways and means, on
the deposite question, and also of the report from the minority
of that committee, had been deferred, and this subject being,
therefore, the order of the day

Mr. Polk rose and observed, that, although the two reports
were printed, and on the tables of members, yet the appendix
to the committee's report, containing certain documents refer-
red to in it, were not yet on their tablet;: and, as he considered
these as essential to a due consideration ol the report itself, he
moved that the subject be further postponed until Tuesday
next.

On this a very long debate took place many distinguished
gentlemen taking part in it. The differences of opinion were
chiefly as to the order of proceeding, and the disposition of ma-
ny bills already before the house. Mr. Polk's motion to post-
pone was adopted.

Mr. JJdams, of Mass, once more asked permission of the house
to present certain resolutions of the legislature of that state.
Objections being made, he moved to suspend the rule; but the
house refused to do so.

Mr. Pott then made a similar request, for leave to introduce
a resolution referring lo the subject vrl'ich had been postponed.

Mr. Jldams objecting,

Mr. Polk asked the suspension of the rule; which was carri-
ed ayes 119, noes 47.

Mr. P. thereupon offered a resolution, in the form of an or-
der, that the report of the committee of ways and means on the
subject of the secretary of the treasury's letter, &.c. he the order
of the day at 1 o'clock on every day, except Saturdays.

Mr. Polk then moved that the rule which requires such a re-
solution to lie on the table for one day be suspended, and that
it be considered at this time.

After some conversation, this was carried ayes 115, noes 56.

So the house proceeded to consider the order.

The debate was renewed with much spirit. Finally, Mr.
Folk's proposition was agreed to, and the house adjourned.

Thursday, March 13. After some other business

Mr. Surges moved to recommit the report of the committee of
ways and means to that committee, with instructions to report
that the reasons of the secretary for removing the deposites were
insufficient.

Mr. Burges addressed the house at length in support of the
motion he had made, and continued to speak till the expiration
of the morning hour; when the residue of his remarks was cut
off by the house passing to the order of the day, (which was
the commutation pension bill). Before the order, however, was
proclaimed from the chair.

Mr. Polk moved to go into committee of the whole on the state
of the union, with a view to take up the appropriation bills,

Which being agreed to, the house, in committee, took up the
military appropriation bill, and finally passed through the bill,
and reported it as amended to the house. Some of the items
caused considerable debate, though their subjects were not im-
portant. Adjourned.

UNITED STATES BANK.

REPORT Or THE COMMITTEE OF WATS ASD MEANS.

House of representatives. March 4, 1834.
Mr. Folk, from tiie committee of ways and means, made the

following report:

The committee of ways and means have had under considera-
tion the letter of the secretary of the treasury of the 3d of
December lat, communicating to concrpss his. reasons for
ordering the public deposite* to he removed from the hank
of the United States; the memorial of the president and di-
rectors of the hank of the. United Plates, complaining that
the "chartered rights of the stockholders" have been violated,
nnd asking redress the memorial of that portion of the direc-
tors of the bank appointed by the United States, making cer-
tain charges of misconduct acrainst the hank; nnrt, also, sundry
other memorials and resolution* from other banks, and citi-
rens in relation thereto, which have brpn referred to them by
the house, and have agreed to the following

NILES' REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS. 39

REPORT:

The secretary of the treasury, in his letter of the 3d of De
cumber lust, mlorins congress. Unit "in pursuance of the powei
re.-Krved to him by the act to incorporate the subscribers to the
bank of the U Slates," he had "directed that the depos-ites o
the money of the U. States shall not be made in the said bank or
branches thereof, but in certain state hanks which had been de
signaled lor thiit purpose, "and he proceeds to lay before congress
the reasons U'hich induced him to uive such order and direction
The hank, in its memorial, draws in question the power o
the secrelaiy to issue such order, and also the sufficiency of his
reasons for the act.

From the language employed, it is apparent that the bank
claims the custody and use ol the public deposiles as a "charter-
ed right," and in case ol a removal lor reasons which the presi-
dent and directors may not deem sufficient, asserts the preroga-
tive of making the bank a party in the transaction. They as-
sume that the "chartered rights of the stockholders" have been
"violated," and demand "redress," as an act of "justice."

Jt is the opinion of the committee, that the question as to the
power of the secretary of the treasury, and the sufficiency or
insufficiency of the reasons for which he may have ceased to
make the bank of the United States the depository of the public
moneys, is one exclusively between that officer and the consti-
tuted authorities to whom he is responsible. To pronounce a
decision upon the act, and the reasons which superinduced it,
appertains exclusively to the government, and is a question in
which the bank has no right to interpose for the purpose of in-
fluencing the decision.

The bank denies the authority of the secretary of the treasury
to issue his order for removing the public deposites from its cus-
tody, and claims possession of these deposites as a chartered
right, because, as it alleges, "the bank has in all things perform-
ed the stipulations of the charter."

The secretary of the treasury, in his letter, affirms that the
bank charter conferred upon him no new power or control over
the public deposites, but was a reservation of a power previously
possessed by him, and one which h:id been exercised by the
head of the treasury department from the origin of the govern-
ment, and that none of the "chartered rights" of the bank have
been violated by the act complained of. '

The ground should be well examined before it is conceded
that a power which essentially belongs to the treasury depart-
ment, and has always been exercised under the responsibility of
the secretary, has been transferred to a cor poration, which claims
to be irresponsible to the government and people of the United
States, except for palpable violations of its charter.

To arrive at a clear understanding of the power of the. secre-
tary to designate and direct the place of deposite of the public-
moneys, it is necessary to trace it from its origin; to show by
whom and how it was exercised, prior to the establishment of
the bank of the United States; and how farit hnsbeen regulated,
modified or transferred, by the charter of that institution. The
continental congress of the revolution, as far as it possessed any
attributes of government, united in itself the powers of every
department. In managing the concerns entrusted to its guar-
dianship, it acted as much in an executive as a legislative capa-
city. The first germ of the treasury department of the United
States is found in a resolution of that body, as early as the 26ih
of July. 1775, to (he following effect, viz:

"Resolved, That Michael Ilillig;ts and George Clymer lie joint
treasurers of the Unilrd Colonies; that the treasurers reside in
Philadelphia; and that they shall give bond with security for the
faith lul performance of their office., in the sum of one hundred
thousand dollars," &e.

In their hands werr placed all the funds of congress, to be
drawn out on the warrants of the president of congress. They
were directly responsible to coneress, settled their accounts
with that body, and held their offices at its will.

Tn various other resolutions and ordinances subsequently
passsed, we trace ihe. process by which the continental con-
gress gradually vested a portion of its executive powers in sub-
ordinate agonts appointed by its vote, and removable at its
will. It began with appointing treasurers over whom it exercis-
ed a direct superintendence. It next vested the superintending
power over that and other offices of the treasury, in a standing
committee of its own body. Next, it was vested in commis-
lioners, a part of whom were members of congress, and a part
not members. Finally, by crcaiirig "civil executive depart-
ment*," of the treasury, war and marine, it separated the su-
perintending power over the treasurer and other subordinate
officers of the treasury, wholly from its own body, reserving
the right of removal; and in case of necessity, controlling the
whole system. The principle on which the department was
organized, was in no degree changed by afterwards instituting a
"board of treasury," for the "superintendent of finance."

It will he observed that in the first instance, the power to
direct the treasurers, in relation to the place where they should
keep the public money, as well as every other portion of their
duties, was vested in congress. This power was afterwards
vested, successively, in the committee on the treasury, the com-
missioners of the treasury, the superintendent of finance, and
the honrd of treasury. The power was expressly conferred on
the "superintendent of finance," and "board of treasury," to
superintend and control the settlement of all public accounts,
and to direct and control all persons ftnplnyed in procuring "*P
plies for the pullir. service, nnij in the npendilirrf of jnMir mo-
ney" and the ordinance expressly provides, that' a treasurer,

&c. shnll be appointed "in aid of the superintendent of Jinan e."
The, superintendent, therefore, had a right to direct him in nil
things, in subordination to the resolutions and ordinances of
congress, which was the head of the executive department.

At the lime the present constitution wait adopted, the treasury
department was managed by the"board of treasury," eowbUnf
of three commissioners, aided by a comptroller, a treasurer, a
register, auditors and a competent riuinbe.r of clerks. The board
had power to direct the treasurer in all his act*, and were them-
selves responsible to congress, the head of the executive depart-
ment in the existing government.

The new constitution took the entire executive power away
from congress, and vested it in an independent co-ordinate de-
partment of the government. U declare* that "the executive
powers shall be vested in a president of the U. Slates of Ame-
rica;" "lhat he shall nominate, and by and with the consent of
the senate, shall appoint ambassadors, or other public minister*
and consuls, judges of the supreme court, and all other officers
of the United States, whose appointment are not herein other-
wise provided for, and which shall be established by law. But
the congress may by law, vest the appointment of such inferior
officers as they think proper, iu the president alone, in the courts
of law, or in the heads of departments."

Thus, by the voice of the people of the states, assembled In
the several sovereignties, was the entire executive power, in-
cluding the power of appointment, and consequently of re-
moval, taken away from congress and vested in the presi-
dent. The ultimate supervision and control of the officers of
the "civil executive department*" was taken from congress and
vested in the president of the United States; and to enable him
to exercise it with the more effect, he was. by the constitution
itself, clothed with authority to "require the opinion in writing
of the principal officers in each of the executive departments,
upon any subject relating to the duties of thtir respective of-
ficrs?" To the president, therefore, was transferred, by the
new constitution, that power of appointment and removal, and
ultimate supervision over all the executive departments of the
government which had before belonged to congress.

The change in the form of government effected hy the new
constitution, made it necessary to reorganize "the civil execu-
tive departments," which existed under the confederation. At
the first session of the new congress, therefore, an act was pass-
ed entitled "an act to establish the treasury department." The
first section of that provides "that there shall he a department
if treasury, in which shall he the following officers, namely: a
'ecretary of the treasury, to he deemed head of the department;
a comptroller, an auditor, a treasurer, a register and an assistant
to the secretary of the treasury, which assistant shall be ap-
pointed by Ihe said secretary."

The duties assigned to the secretary of the treasury, are, in a
great measure, identical with those assigned by the old congress
to the superintendent of finance.

The. offices of comptroller, treasurer and register of the trea
ury department, under the confederation, were retained under
the new system, with similar duties attached to them. The
very language of the old oidinunces in relation to the leading
duties of the treasurer, is copied into the act nf congress of 1789,
establishing the treasury department, viz. It shall lie Ihe duty of
the treasurer to receive and keep the moneys of the United States,
and disburse the same upon t"rrnn's, &.c.

That act was construed at the time of its passage, and hag
bfe.n ever since, as conferring on the secretary of HIP treasury
all the powers which, under the old confederation, had been
exercised by the "board of treasury;" and we accordingly find
that Alexander Hamilton, the first secretary of the treasury,
and all of his successors in that office, down to the time of es-
nblishing the present bank of the United States, constantly ej
ercised the power of directing where the public moneys in thn
treasury were to lie deposited. It was sometimes placed in the
lands of individuals, sometimes in state banks, and a part of it
n tho former hank of the United States. It was never suppoi-
sd, during the period above mentioned, to be the province of
thp treasurer to make the selection, nor did he ever attempt to
exercise the power. It was, by uniform usage and the acqui-
escence of congress and all the branches of government, from
1789 down to 181-6, admitted to be placed by law under the- ex-
elusive power of the secretary, subject to the supervision of the
president as the head of the executive department. Under the
construction given to the same act, and by uniform usage, the
principle was equally well established, that to the secretary of
;he treasury belonged the exclusive power of ordering transfers
of public money from one place of deposite to another, and the
warrants or draughts issued for that purpose, did not tako the
"unds from the debit of the treasurer, and were never con--ider-
>d as drawing them out of the treasury. The public revenue
can never be entirely collected or disbursed ut the same place?.
Tt must necessarily be transferred from the points of collection
o places where it may be needed, and deposited in secure
ilaces for safe keeping prior to disbursement. If, in this ope-
ration, it remains charged to the treasurer on the hooks of the
reasury, although separated into a thons-and parcel?, and in
very P'irt of the union, it is still in the treasury, ready to I
disbursed upon warrants drawn ac< ording to the lawn'. T
'OinmittPP annex to this report, hy way of appendix, va-
official documents, establishing conclusively the pusitio-
\ave here Flitted.

At the period, therefore, that the Charter of tho prf
was granted, the power of the ecretary of the Uf

40 NILES' REGISTER MARCH 15, 1884 COMMITTEE OF WAYS AND MEANS.

this subject was one well known and understood. It bad been
clearly sealed by long ii-nui; and invariable practice under the
act of 1789, and with which the congress of 1816, when they
chartered this bank, were perfectly acquainted, and to which
they must have intended to refer, whtn they speak in general
terms of his power over the public deposites, without defining
or prescribing its limits.

The 16th section of the charter declares that the deposites of
the moneys of "the United States in places in which the said
bunk and branches thereof may be established, shall be made
in the said hank or branches thereof, unless the secretary ol the
treasury shall at any tune otherwise order and direct; in which
case, the secretary of the treasury shall immediately lay before
congruss, if in session, and if not, immediately after the com-
mencement of the next session, the reasons of such order and
direction."

This section grants no new power to the secretary of the
treasury. On the contrary, as far as it operates at all, it is a
reservation of the power which before existed, to select the de-
positories for the public funds. The secretary, therefore, does
not derive his power over the subject from this act.

Being a reservation, and not a grant of power, the secretary
of the treasury retains all the powers over tin- public moneys
he before possessed, except so far as tln*y may bo modified or
taken away by the bank charter. The power of transfer, not
being alluded to in the section, is not restricted by it, atid of
course is possessed by the secretary oi the treasury to the same
extent as before.

Accordingly, transfers have constantly been made, since the
bank charter was granted, as before, not only from one oflice ol
that bank to another, but from that hank and its offices to state
banks. Hereto annexed is a list of numerous transfers from
the bank of the United States to state hanks, taken from a re-
port of Mr. Secretary Crawford to the house of representatives,
dated February 7th, 1823.

The error upon this point consists in considering the provi-
sion in the bank charter a grant of power, instead of the reser-
vation of a power previously existing. Not finding the power
of transfer granted, it has been denied that it exists, when, in
fact, the silence of the section leaves it as it was before.

The effect of the 16th section of the bank charter is, to take
from congress entirely the power to control the public depo-
sites, which that body before possessed. It provides that the
deposites of the moneys of the United States shall be made in
the bank of the United States, without reserving to the legisla
tive authority any power to order their removal, with reason or
without reason.

Whether the congress of 1816 acted wisely in thus divesting
themselves of all control over the places of public deposite ol
the public moneys, for the long period of twenty years, is a
question which it is unnecessary to determine. It is certain
that they did so; and during the continuance of the charter,
therefore, they must have continued to be made in the bank oi
the United States, unless the secretary of the treasury had
otherwise ordered and directed. It was stipulated with the
stockholders that they should h.ive the public deposites, unless
the secretary otherwise ordered, and that the legislative autho-
rity would not interfere to take them away during the continu-
ance of their charter.

This section of the bank charier, although it surrenders the
power of congress over the public deposites for twenty years,
and indicates a legislative preference for the hank of the United
States as a depository, docs not diminish the positive power of
the secretary of the treasury over the subject. lie had the
same legal power after the passage of this act, to order and di-
rect tin: public deposites to be made in other banks, as he had
before. An additional duty was imposed upon him. But how
can this requirement impair his power? Had the clause requir-
ing the reasons to be reported, been omitted, could it have been
doubted thnl the power of the secretary to cause the deposites
to be made in other banks would iiave breri absolute and nn
qualified? And how can the necessity for uivin^ his reasons af-
ter the ac! is done, impair his power to do it? Before the bank
charter was granted, the secretary of the treasury was liable to
be called on by congress for his reasons for discharging one
bank from the service of the treasury, and employing another,
and it was his duty to give them. The change effected in his
position is, that he is now hound by law to give his reasons
without a special call. Hut the giving his reasons now, after
the act is done, can no more affect hi.* power to do it, than giv-
ing his reasons then under a special cull of congress; and his
duty to act only for good reasons, and his liability to be punish-
ed for measure* originating in corrupt or wicked motives, were
just as strong then as now.

That it was intended that this power should be exercised, as
It nhvays has been, by the executive authority, without con-
sulting con,irrs. is proved by the fact, that the secretary is not
required to cive his reasons to congress, even though they may
be in session, until after the act is done. If it had been intend
ed that he should be directed and advised by congress before he
acted, provision would have been made that when coiiL'iexsiirr
Jn session, the reasons should bo laid before them for their con-
sideration and approval before the act was done.

In illustration of the view here taken of the proper interpre-
tation of IhiP provision of the bank dinner, nud the povvpr re-
served by it to in* secretary over HIP public rtj-posiip*, the com
mittee refer to another provision of that chartrr. Dy the 1 lib

section, it was stipulated by congress, in behalf of the United
Slates, with the stockholders of the bank, 'Mhat the bills or
notes of the said corporation originally made payable, or which
shall have become payable, on demand, shall be receivable in
ill payments to the United States, unless otherwise directed by
act of congress." It W!is important for the bank, in order to ob-
tain general credit and circulation for its notes, lhat they should
be received in payment of public dues. The charter provides
that they shall he receivable in all payments to the United
Slates, but upon the express condition that congress reserves to
itself the right to provide by law that its notes shall not be re-
ceived in payment of the public revenue. This was a power
reserved to congress, to which the bank agreed; as was the
power reserved to the secretary to remove the deposiies, to
which the bank in like manner agreed. Now it will not be
maintained by any one, that congress may not at pleasure, with-
out any violation of the charter, or any infringement of the con-
trad with the bank, by law refuse to receive the notes of Ihe"
bank in the payment of the. public dues.

If the secretary of the treasury, without an act of congress,
should attempt to prohibit the receipt of the notes of the bank
in payments to the United States, he would usurp a power
which belongs to the legislative authority; and in like manner,
ifcongress, without the previous order and direction of the se-
cretary of Ihe treasury, were to attempt to cause the public de-
posites to be removed from the bank, they would usurp a pow-
er which does riol belong to them.

The bank would have the same cause to complain, if the ex-
ecutive refused lo receive its notes in payment of public dues
wilhout the authority of an act of congress, as it would have
if congress were to remove the deposites, without the previous
order and direction of the secretary of the treasury, and no
more.

The power reserved to congress to discontinue Ihe receipt of
Ihe notes of the bank in "payment to Ihe United States," is ab-
solute and unqualified, in like manner, the power of the se-
cretary of the treasury, for reasons which he is required to re-
port to congress, to employ other depositories of the public mo-
ney, is equally absolute and unqualified. Neither congress nor
the secretary are required to give any reasons to the bank.
And if congress were, for reasons satisfactory to themselves, lo
pass a law, declaring lhat the notes of the bank shall no longer
be taken in payments to the United Slates, the president and
directors of Ihe bank would have no just ground of complaint
that their "chartered rights" had been violated. Is the case
now presented at all different in principle? Have they any just
ground to complain that their "chartered rights" have been
violated, by the act of the secretary, in the removal of the de-
posiies? The hank charter is a contract between the govern-
ment of the United States and the stockholders. To sen that
the secretary of the treasury acts from pure motives, and judge
whether further legislation be not necessary on the subject,
congress require of him to report his reasons' to them. This is
an arrangement between the legislative and executive depart-
ments of the government, who are jointly one party to the con-
tract, wilh whose arrangement, the bank, as the other party,
has no concern. The stockholders entered into the contract,
in which the government reserved the right to reject their
notes, and discontinue their bank as a depository, the one
through congress and the other through the secretary of the
treasury, wilhout assigning to them any reasons whatever.
Whenever either of these powers is exercised by the agent to
whom il has been reserved, no stipulation of the contract has
been violated, and the bank has no right to complain.

Not only was no stipulation made with the bank that its
notes should be received in payments to the United Slates, and
that it should be employed as a depository of the public mo-
neys, longer than it should be the pleasure of the government;
but any contract of that sort on Ihe parl of Ihe government
would have been indiscreet and improper. To have absolately
bartered away to a corporation, the high powers of both the le-
gislative and executive departments, and left the government
of the people absolutely dependent on a corporation of ils own
creation for the currency in which public dues should be paid,
and the places in which the public moneys should be kept,
would have been an assumption of power on the part of those
who created the bank charter, which the boldest advocates of a
controlling power over the popular will, never dared to main-
tain. Many unforeseen considerations, might render it expe-
dient, if not indispensable to the preservation and protection of
the public interests, within a less period than twenty years, to
sever the connection between the government and the bank,
and no congress has yet been found so improvident as to trans-
fer from the government the power to determine what curren-
cy it will or will not receive in payment of the public dues, and
to select at will tho deposilories of Ihe public funds; much less,
have they imposed on the public authorities, and on congress
theinsi Ives, the degrading duty of giving reasons to a corpora-
tion, for measures they may deem essential to the interests of
llin people, the purity of Hie government, and the preservalion
of our invaluable institutions.

The removal of tin; deposites by thn secretary of the treasury
from the bank ot'lhe United .States, so far from being an usur-
pation of a power liclonzipig to congress, actually restored to
that body a power, of which they hail by HIP terms of the char-
ter divested themselves. Ho far as r<-ards ronsre**, the con-
tract is nhioliiie, that the deposiies shnll be made in the bank of
ihp United Plates, and no shadow of Authority is reserved to

NILES' REGISTER MARCH 15, 1834 COMMITTEE OF WATS AND MEANS. 41

them otherwise to "order and direct." Congress divested itself
of all power or control over the deposites unless the secretary
should first issue his order for the removal. The exclusive
power to issue such order was reserved to the secretary of the
treasury, and hut lor his action, the deposits must have re-
mained beyond the reach of congress uulil the termination of
the bank charter. The moment they are out of the bank, by
the order and direction of the secretary of the treasury, as pro-
vided in the charier, all the original power which congress pos-
sessed over them, reveits to that body. They may by law di-
rect their future disposition. If they think proper to relieve the
executive from all responsibility for the safe keeping of the
public funds, they may, by an act of legislation, designate the
depositories in which they shall be kept. The power with
which, in the opinion of the committee, congress should never
have parted, has been restored to that body by the act of the
secretary, and it is not perceived upon what ground he can be
charged with an usurpation of their powers, by an act which
has essentially enlarged them.

In the section of the bank charter reserving to the secretary
of the treasury the power over the deposites, it is not stated
what reasons may be sufficient to justify him in directing the
money of the United States to be deposited in other banks.
That they ought to be good and honest reasons, there can be no
doubt. Before the bank of the United States existed, he was
equally bound to have such reasons for discharging one bank
and employing another, as well as for all his other official acts.
If they be not honest, he may be impeached by congress, or dis-
missed from office by the president. If they be not good, he
may be overruled by a subsequent act of legislation, providing
for their restoration, or designating some other place of depo-
sit than that which he may have selected. But if they be both
honest and good, the transaction should be at an end, when they
are reported to congress.

It has recently been maintained in argument, that no reason
but a want of safety can justify the removal of the deposites
from the bank of the United States; that the security of the pub-
lic funds was the sole object which congress had in view; that
having confidence in the bank, the act of charter directed the
deposites to be made in it, hut lest, at any time they should be-
come insecure, they reserved to the secretary of the treasury
the power of removing them, with a view solely to render them
more secure; and that, for the same reason, he was required to
assign his reasons to congress, whenever he did order the re-
moval, that congress might review his act.

It is to be observed that the words of the bank charter recog
nizing the power of the secretary to remove the deposites, do
not define the reasons or circumstances which will authorise
him to act; and the necessary inference is, that lie may act, foi
any reasons, which to him may seem sufficient.

If want of safety was the only reason which could justify a
removal of the deposites, why was the secretary required to re
port his reasons at all? If there could be but one sufficient rea
son, congress would have known it as well without being re
ported as with it; and if there could be but one reason, ,wh;
was it not so declared in the charter?

There are good grounds to believe that want of security wa
not the only, nor the chief reason in the minds of congress
when they required of the secretary to assign the reasons of th
act to them. Suppose it to be discovered by the secretary, tha
the bank is in a tottering condition, and on the verge of stop
ping payment, what advantage would the government gain by
sudden withdrawal of its funds? Under the circumstance
supposed, the first effect of such a measure would probably be
to compel the bank instantly to stop payment, and as a conse
quence, its notes would become fatally depreciated. But th
bank charter requires that its notes shall be received in all pay
ments to the United States, unless congress shall by law other
wise direct. All the revenues would then be paid in thei
notes, however much they might be depreciated, for the secre
tary would have no authority to refuse them until congress re
pealed the provision which required them to he received in pay
ments to the United States. To remove the public funds, there
tore, for want of safety, would be to depreciate the currency
which the accruing revenue must be received. Instead of hav
ing a deposite of good money in a doubtful bank, we might hav
one of bad money in ood banks. The bank of the United State
would be more likely to pay the warrants of the treasurer if th
deposites were left in its possession, than it would to pay it
own notes, rceived in payment of revenue, if they were take
away.

Instead of removing the deposiles in such a case, the publi
interest would require every practicable effort on the part of th
treasury to sustain the credit of the bank, at least until conare^
could repeal the provision which makes its notes a tender in n
payments to the government. He would be a faithless secrela
ry who should depreciate the currency he is bound by law t
receive in payment of public dues; and under pretence of pn
ting the public funds already collected in a safe place, resort t
a measure which would inevitably make the currency which h
was bound to receive in payment of the accruing revenue, in
great degree, worthless.

But the cotemporaneons and continued construction of tl;
clause in the charter relative 10 the secretary's reasons, even
the meaning of the word* themselves was at all doubtful,
conclusive to show, not only thni the secretary possesses fn
power to order tlie removal, but that it i* hi* duty to do so (<
other reason* than the insecurity of tlie public funds.

On reference to the correspondence and documents connect-
d with the treasury department, we find that Mr. Crawford,
bo was secretary of the treasury at the linn: tlie bank went
ito operation, in sundry letters, distinctly asserted his power
nder the charter to cause the deposited of puUn: money to be
rule in state banks for various leasons, and that he did aclu-
ly exercise that power during the first year of the bank's ex-
tence, reporting his reasons to congress at the next i-e.-Mon:
nd that he did again exercise it in the year 1818 on both of
'hic.h occasions it was not contested by the bank, and not call-
d in question by congress. We find that in 1819 the power was
xpressly asserted by a committee of congress, and by eminent
icmbcrs, in debate, without controversy; and that at a eubse-
uent period (1824) when Mr. Crawford's arrangements with
tate banks were called in question and investigated, it was de-
lared by a committee of the house of representatives, that there
v;is nothing in them in violation of law, or contrary to the
sages of the department.

The successors of Mr. Crawford in the treasury department,
dr. Rush and Mr. Inghnm, have asserted the power; and it was
dmilted'to exist for other purposes than the security of ihe
ublic deposites Uy the committee of ways and means of (his
ou.se, as late as 1S30.

The grounds on which it has been asserted the power may be
xercised, have been, to equalise the benefits resulting from the
eposites among the bank community; to aid the state banks in
jaintaining their credit; to induce them to resume specie pay-
ments; to prevent a pressure on their debtors; the refusal of the
>ank of the United States to receive as cash the notes of banks
vhich it was deemed the interest of government to receive from
Is debtois; the public convenience; the misconduct of the bank;
ts interference in politics, and the use of its pecuniary power to
iroduco injustice and oppression. These several grounds of
iction, suggested sometimes by the secretary of the treasury,
sometimes by committees of congress or its members, as well in
mblic documents as private correspondence, were never decla-
ilared to be illegal or invalid even by the bank itself; nor does
t appear ever to have been maintained or suggested, that the
want of security was the only good reason for the action of the
secretary, until since the removal by order and direction of the
>resent incumbent. The committee consider the point too clear,
nider the words of the law and the practice of the government,
to be now seriously called in question. Extracts of letters and
reports are given in the appendix to this report, which fully es-
.ablish the positions here asserted.

It has also been objected to the act of the secretary, that con-
eding to him the power to remove the deposites, and to direct
them to be placed in state banks, that yet he had exceeded his
authority in entering into contracts with the new depositories,
prescribing the terms of deposile and the duties and services
which they should be required to perform for the government,
! n consideration of the use of the public moneys.

The committee are of opinion that there is nothing in this ob-
jection. Money of the United Stales could not be placed in
their keeping without a contract with Ihem. If there was no
written agreement, the law would imply one. It would imply
a contract on the part of the deposite bank to pay; and if they
refused to pay, the United States might sue and recover the
money.

If the secretary, by depositing the money in a state bank, may
make an implied contract, by which the bank would be bound
to pay, surely he may make an express one. The objection,
therefore, that he may not enter into a contract, although he has
a right to deposite the money, is wholly untenable. If tho state
banks are selected lawfully as agents, and their duties not de-
fined by law, they must necessarily be defined by contract, and
the United States have the same right to take care of their inter-
ests in this respect as an individual.

In making these contracts, the present secretary has but fol-
lowed the example of his predecessors, and has manifested an
anxious care to protect the interests of the United States; and
so far from being justly subject to censure, deserves rather to be
commended for his vigilance, in guarding the public treasure
as far as possible from danger of loss. Rut suppose all that has
been urged by those who rely upon this objection to be true;
suppose the contracts to he in fact void; still the public money
is not Ifiss secure i?i ihe stale banks ihan il would have been if
no contract;! had been made. In any view, therefore, the com-
mittee are of opinion that the objection is utlerly fulile, and de-
serving of no consideration. Il has been the constant practice
of the treasury to make such contracts with the banks selected
as tho public depositories, examples of which may be found in
official letters of Mr. Gallatin and Mr. Crawford, hereto an-
nexed.

The commitlce are of opinion, therefore, that the secretary
possessed the power to issue his order for the removal of the
depf)ites, and they are further of opinion that none of the char-
tered rights of the stockholders of the bank have been violated
by it.

The bank in their memorial allege, " that in consideration of
a full equivalent, rendered by them in money and services, they
were entitled to the custody of the public deposites." To this
proposition the committee do not assent. It appears by the 20lh
section of the act of the charter, that the bonus of a million and
a half of dollars was paid by the bank in "consideration of the
exclusive privileges and benefits conferred by this act upon the
'snid Ivnik." This was the only money paid by the bank to the
United Stales, and it was paid, nol for the use of the public de-

42 WILES' REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS.

nosites, but for the exclusive privilege and bunefit of banking
conferred by the charter, and especially by the pruvi.-iun con
taincd in the 21st section, viz:

"That no other bank shall be established by any future law
of the United Stater duriiii! the continuance ot the corporation
herd* created, fur which the faith ot Hie United States is here-
by pledged."

The only services which the bank stipulates to perform for
the government, are, "to perform the several and respective du-
ties ot the commissioners of loans for tin- several states, or of
any one or more of them, whenever required by law;" and to
"give the necessary facilities for transferring the public funds
from place to place, williin the United Slates, or the territories
thereof, and liir distributing the same in payment of the public
creditors, without charging com missions, or claiming allowance,
on account of difference of exchange."

It no where appears in the charter of the bank that these ser-
vices were to be performed by the bank in consideration of the
use of the public deposiles; hut if it did so appear, it is evident
that so soon as the public deposites are withdrawn, the bank,
not 'having possession of the public funds, can no lunger be re-
quired to perform those dutirs. The committee think it much
niote likely that the consideration for these services in the
minds of those who enacted the bank charter, was, that the
United Statee agreed on their part to receive the notes or bills
Of the bank in payment of the public revenue, thereby enabling
the bank to give general credit and circulation to their paper.
Mr. Dallas, the secretary of the treasury at the time the bank
charter was granted, in a letter addressed to the " committee on
the national currency," dated the 24th of December, 1815, con-
firms this opinion, in that letter Mr. D.illas states, " It is pro-
posed that in addition to the usual privileges of a corporation, the
notes of the national bank shall be received in all payments to
the United States, unless congress shall hereafter otherwise pro-
vide by law; and that in addition to the duties usually required
from a corporation of this description, the national bank shall
be employed to receive, transfer, and distribute the public reve-
nue, under the direction of the proper department." Congress
adopted this suggestion of the secretary, and hence we find, that
by the 14th section of the hank charter, congress agree to receive
the notes and bills of the bank in payment of public dues, and
by the loth section immediately following, the bank stipulates
to transfer and distribute the public funds from place to place,
without charge to the United States. In the same letter, Mr.
Dallas negatives the idea that the deposites constituted any
part of the consideration either for the bonus or the services sti-
pulated to be performed by the bank. He states that, "it is pro-
posed that a bonus be paid to the government by the subscri-
bers to the national bank, in consideration of the emoluments
to be derived from an exclusive charter during a period of twen-
ty years." This suggestion of Mr. Secretary Dallas, was also
adopted by congress by a -irovi-ion to that effect contained in
the 20th section of the bank charier before recited. In thosame
letter, Mr. Dallas holds the following language in relation to the
"depo-ites and the distribution of the public revenue," viz.
"Independent of the bonus here proposed to he exacted, there
re undoubtedly many public advantages to be drawn from the
establishment ofthe national hank; but these are generally of an
incidental kind, and (as in the case of the deposited and the dis-
tribution of the revenue) may be regarded in the light of equiva-
lents, not for the monopoly of the charter, but for the reciprocal
advantages of a fiscal connexion with the public treasury." It
thus clearly appears that the ground assumed by the bank, that
it had rendered l: a full equivalent" in "money and services" for
the use ofthe public deposites, is erroneous, and is not sustained
either by the bank charter itself, or the opinion of the head of
the treasury department who furnished the plan, and largely
contributed to found the present bank of the United States.
Upon this ground, therefore, the committee think the bank can-
not justly complain, that any of the "chartered rights of the
ttockholders" have been violated by the late removal of the
public deposites from its custody.

The committee proceed to consider the sufficiency of the rea-
sons assigned by the secretary for the exercise of his power in
the case submitted to them by the house for their examination.
These reasons may be classed under two general heads:
1st. Those which have relation to the public interest.
2d. Thoe which have reference to the conduct of the bank.
The first reason given by the secretary is Ihe fact that the
charter of the hank of the United Plates will expire on the 3d
of March 1836, and Ihe probability that it will not he renewed.
He ha not undertaken to decide that the hank will not be re-
chartered; but he has said he has no right to presume that it will
be. He has said that he must act under the law as it exists, and
not as it may by possibility be changed or altered by the action
of congress hereafter. He has said that the hank chartrr will
expire by its own limitation in the year 1836. and that lie would
not be justified in acting upon the supposition that the charier
will he extended beyond that period; he has said further, that in
his judgment, the presumption was very strong, that Ihe charter
would not be renewed. In the opinion of the committee, he
was warranted in coming to this conclusion. What are the facts
upon which an opinion on this point is to be formed? The cor-
poration itself had made the renewal of its charter the leading

stepped into the arena itself, and resorted to unusual means to
give information to the people "relative to its nature and opera-
lions." Although, in addition to its own strength, it was MIS-
tained in the conflict by a combination ot 'powerful political ele-
ments, it was signally defeated, and the president triumphantly
re elected. This result could not be otherwise conidered
than as a verdict of the people in favor ofthe veto, and against
the bank.

If any doubt had existed in relation to the decision of the
people on that point, we may confidently appeal to the elections
of members to the present congress for its solution. Ofthe many
expressions of public opinion, through the more numerous re-
presentatives of the people in the stale legislature:-, presented
to congress and referred to this committee, during the present
session, in relation to the bank, not one has recommended its
reclnirter, while most have declared it unconstitutional.

That the bank would ever be rechartered, there was, there-
fore, when the secretary gave his order to remove the deposites,
but little reason to believe; and there is less now.

Nor was there any reason to believe that a substitute for the
present bank could be provided by congress. Of all the schemes
suggested, none seemed to have met with any considerable por-
tion of favor from the people. There were, therefore, abundant
reasons to believe that the government would be under the ne-
cessity of resorting to the employment of state hanks, in the
same manner as before the present bank of the United States
was created.

The transfer of the public deposites from the bank of the U.
Slates and branches, to the state banks, at some period, was
therefore inevitable. The only question was as to the time.
Ought they to have been made in the bank ofthe United States
to the last day of its existence, or to have been changed at an
earlier day? and if so, how much earlier?

The public deposites continued substantially a part of the
, .ipiial of the bank, and enabled it to maintian an extension of
business which would have been impracticable without them.
If the deposites had remained in Ihe bank until the close ofthe
charter, that institution must either have commenced its curtail-
ments at a preceding period, and locked up from the use of the
community a large amount of funds, or the contraction of its bu-
siness at the termination of its charter, to meet the demands
from the public deposites, pay overits private deposites, redeem
its returning circulation, and re-imhiirse its stockholders, must
have created a most appalling pressure upon the country. It
was certainly wise policy to divide this operation, and save the
community from being overwhelmed by all these demands at
once. A withdrawal of the public deposites was calculated to
produce that result. A part of the private dejyosites would na-
turally follow the public; and it was reasonable to suppose, that
when the effective, capital of the bank was curtailed, and it
ceased to be the disbursing hank for the officers of the govern-
ment, its circulation would be diminished. These consequences
flowing gradually from a gradual removal of the deposites,
would make it necessary for the bank, by gentle degrees, to call
in its loans, and restrict its business, so that, at thn termination
of its charter, its demands on the community would he less,
and the pressure lighter. These views, which appear to have
been entertained by the secretary of the treasury, seem to have
been verified by results.

The bank has proceeded to call in its loans, and has already
wound up its concerns to the amount of about fifteen per cent,
of all it had under discount. The manner in which this opera-
tion has been conducted, will be adverted to in anolher part of
this report, as will also the effect produced by it. It is sufficient
to remark here, that if embarrassment has been produced by it,
(which could not have been its necessary effect), it rather
proves the prudence and wisdom of the measure, than its im-
providence or hastiness. And if the mere removal of the d"-
posites so long before thn termination ofthe charter, has caus-
ed the public distress which is now alleged to exist, how over-
whelming must it have been if that operation had been delayed
until the expiration of the charter, when other inevitable de-
mands to a large amount would have been superadded! Il is
only by dividing the evils which this bank, in its last moment",
has power and seems disposed to inflict upon the country, that
they can be made tolerable. And it is wise in the government
so to conduct its policy, that they shall riot be brought upon it
fit once. A new sy--tem of collection and disbursement cannot
be introduced and put inlo operation throughout t'>is extensive
country at. once. Local and temporary causes will be likely to
interfere with its introduction, which it will require time, pa-
tience and labor to surmount. In some places, it mny he dif-
ficult at first to find safe and willing agent- to transact the busi-
ness of the treasury. By introducing the new svstem before the
old sj-Ftcm is out of existence, the former agents may continue
to he employed in such places until th" difficulties he overcome.
Rut if the removal were delayed until llie moment the old sys-
tem censed to exist, such might he the influence or power of its
advocates, nnd their resolute determination to force its con-
tinuance, that they might make it impossible for Ihe govern-
ment, upon the emergency, to employ suitable, agents. To
obviate those difficulties, which might create great embar.is-
meut. to introduce and put into harmonious operation all the
machinery of a new system throughout a country so extensive,
cannot surely require lea* tj me than has been taken by the se-
cretary of the treasury.

There Appear* also to be much force in the considerations
urged by the secretary, connected with lb currency of th

NILES' REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS. 43

country, and the domestic exchanges. The notes of the hank
of the United States must necessarily in a short time be with-
drawn from circulation. The principal currency of the country
for many years to come, will he liank notes, there is no reason
to doubt, ami it. is certainly good policy to foster the state hanks
which furnish them, in measures tending to give them as ge-
neral credit us has been heretofore attached to the notes of the
United Stales hank and branches.

That the natural and ascertained course of trade, circulation
and exchange, connected with the interests of banking institu-
tions, will ultimately produce this result in relation to the notes
of the principal Mate hr.nks, there is every reason to anticipate;
but their employment in the business uf the government, hy
awakening them to their capacities and interests, is calculated
to hasten the consummation of so desirable an event.

It was a matter of no small moment, to encourage and hasten
the banks in maturing their system of circulation and exchange,
so that at the termination of the charter of the bank of the
United States, the trade of the country might not encounter at
the same time the loss of a general currency and the entire
breaking up of the domestic exchanges, a partial intenuption of
which, by that bank is now producing such serious incon-
venience. By the latest returns of the banks employed by the
government, it appears that they are already rapidly taking the
place of the hank of the United Slates in the exchange opera-
tions. Upon all the points hitherto considered, there is room
for a difference of opinion, as to the time when the public de-
posites should have been shifted to the state banks.

It is evident that it would have required one, two or three
years, to realize the result which the public good required
should be brought about before the termination of the bank's
charter; but whether the greatest or least of those periods, men
may differ according to their views of their several operations.
But there was another consideration connected with the public
good, which, in the opinion of the committee, made it the im-
perative duty of the secretary to act without delay. Without
waiting for the final decision of the secretary, the bank of the
United States, early in August last, although then in possession
of specie to an amount exceeding ten millions of dollars, and
receiving a rapid accession to the public deposites, commenc-
ed a system of severe curtailment, and before the. end of that
month took large sums in specie from the state banks. Be-
fore the 1st of October there was a pressure upon the money
market, and serious apprehensions for the future. The hoard
hoarded up the deposites it had received, and at the same time
made a rapid curtailment of its loans. The secretary has ac-
curately set forth the accession of public deposites, and the
curtailment of loans during the months of August and Septem-
ber. The former amounting t $4,066,146 21, and the latter to
$2,268,504 11, showing the whole amount abstracted from the
use of the mercantile community, chiefly in the commercial
cities, during these two months to have been no less than
$6.334,650 32. In consequence of the change in the tariff,
which threw into the lalter part of the last year the payment of
two sets of duties, the old credit and the new cash duties, the
public deposites were accumulating in the Atlantic cities with
unprecedented rapidity, and it was apparent that the business
of the cities could not long bear the double drain of bank calls,
and public revenue, without some return.

As the bank had commenced this course in anticipation of a
removal of the deposites, it could not be expected to change it
until all idea of that measure should be abandoned. Had it, been
postponed until the first of January, if i? not to be imagined that
the hank would have relaxed its rigid policy upon any other
consideration than a disposition in the executive to abandon
the measure, or in the legislature to overrule him. It cannot he
doubted that the government would have been forced from its
position, or that a scene of ruin and distress would have been
produced by the unfeeling cupidity of the bank, and its determi-
nation to force a recharter.

If, under the circumstances, the secretary of the treasury had
delayed the execution of his order for the change of the de-
posites to the first "of December or January, he would, in the
opinion of the committee, have been culpably regardless of the
great public interests intrusted to his superintendence. But,
independent of these considerations, it was the undoubted duty
of the secretary of the treasury to order and direct the tranfer
of the depositps whenever, in his opinion, it was required by the
public interests.

It is proper to observe, that in expressing the opinion that it
ii the duty of the secretary to change the place of deposite,
whenever the public interest or convenience require it, the
committee have no reference to interests which are not im-
mediately connected with the financial concerns of the country,
or the conduct of the hank as the fiscal agent of the government.
Beyond these limits, the secretary of the treasury does not and
has not claimed the right to interfere. The reasons upon which
he appears to have acted are fiscal merely, and am confined en-
tirely to the condition in which the government and people
would he placed hy the state of the currency on the termination
of the charter of the hank, and to the misconduct of the bank
in its character of fiscal agent of the government.

He does not claim for himself, nor do the committee claim
for him, the right to regulate the currency, nor to influence by
hi power over the depositog any political movements affecting
either our internal concerns or foreign relations. But it is un-
questionably his duty to look forward to the condition in which
>he currency will in a short time be placed, by the existing

laws, when the charter of the bank expires; and it is clearly
his duty to examine also into the conduct of the agent which
has been placod by law under his supervision; and to inquire
whether its money or corporate powers are used in good faith,
for the purposes for which they were given. As the presiding
Officer of the treasury deparlmmt, these subjcctx were legally
under his supervision, and came directly within the range of
his official duties. In acting upon these reasons, it is not the
theory of our system, nor has it been the practice, to consult
the legislative power in relation to acts which are entrusted to
the direction of the executive; and to ask the sane-lion of con-
gress beforehand, to acts which a sense of dutv require* him to
perform, would be to shrink from his constitutional responsibi-
lity, and throw it upon another department of the government.
With thr: lemoval f the deposiles, and the reasons for it, con-
gress, according to the charter of the bank, have clearly no con-
cern, even if they he in session when, in the opinion of the se-
cretary of the treasury, a removal becomes necessary or proper,
until the act be done and the reasons be reported to them.

The committee come next to examine such of the secretary's
reasons for the removal of the deposites as relate to the conduct
of the hank.

The United States are the owners of seven millions of the
capital stock of the bank, and by the charter are entitled to be
represented at the board by five directors. The charter provides
that "not less than seven directors shall constitute a board for
the transaction of business."

Although the charter of the bank declares, in express terms,
that it shall require the allendance of seven members of the
board of directors to constitute a quorum fordoing business, the
government directors state, and the fact also appears from the
evidence accompanying the report of the committee of investi-
gation. in 1832, and that of the committee of ways and means at
the last session, that, for some time past, all the most import-
ant business of the board has been done by committees of less
than seven, selected by the president, of which he is ex-officio a
member; that these committees seldom report, and many of
their most, important transactions are secret, and remain for a
long time unknown to the board.

This delegation of powerlo committees of the bank, the com-
mittee consider to be a direct arid palpable violation of the char-
ter of the hank. From all these committees, the government
directors, who are appointed to represent the stock, and watch
over the interest of the United States in the bank, slate, in their
memorial, they are entirely excluded. They state that, at the
commencement of the last year, not one of their number was
placed on any of these committees, and although, at a subse-
quent day, two of them were assigned to stations on commit-
tees, they were again, in a short time, excluded from them alto-
gether. Thus were they cut off from all participation in the
most important business of the bank, and know nothing of
what is done except by accident or results. They state that
all important negotiations are carried on by the committee of
exchange, who grant discounts to printers, politicians and others
almost without limit, often upon securities wholly inadmissible,
according to the rules of the board, on extraordinary terms, and
for unusual times. They state that, in one instance, when they
discovered that certain debtors had been permitted largely to
overdraw, and that their paper remained unprotected when due,
and unpaid, they procured the appointment of a committee to
investigate the account, but before that committee could act,
the committee on exchange, in violation of the rules of the
bank, discounted to the same men, certain noies and draughts
(some of which on security of the most unusual kind) sufficient
to pay the over draughts, and take up the unprotested paper; al-
though they were then many times protested on other paper;
and the board, to consummate the transaction, rescinded the
order under which the select committee was appointed, three
days alter it was adopted.

To conform the practice of the hank to the charter, the go-
vernment directors state, that they proposed to restore the bu-
siness of discounts to the hoard of directors; hut this was over-
ruled. To enable them to participate, in some degree, in the
business of the hank, they proposed that the members of the
whole hoard should be selected, in rotation, to form the com-
mittees, in conformity with former practice, and an unrescind-
ed rule; hut this also was refused.

Finally, instead of reforming the practice of the bank, so as
to make it conform to the charter and the rules, the majority of
the hoard of directors changed the rules, and made them con-
form to the practice. Thus, rules made by themselves, are
taken as authority for disregarding the restrictions of the charter
and of the regulations prescribed by the stockholders; and from
the statement of these directors, it appears that almost all the
business of the bank is done by committees of three or five, to
which thr president is attached ex-officio. The board of direc-
tors remain ignorant of the movement of the corporation, which
has been put under their management, and by an entire exclu-
sion of the government directors from the committees, they are
rendered useless for all the purposes, which induced their being
placed in the direction. Under such management, could the in-
terest of the government he considered secure in their hands?
The committee think not nnd that this, with other abuses con-
nected with its management, which will be noticed in the sub-
sequent part of this report, was a sufficient reason to justify the
secretary in the removal of the dcposile?.

The conduct of the bank in the year 1832, in secretly inter-
fering, through the agency of its president and one of its ecrat

44 N1LES' REGISTER MARCH 15, 1834-COMMITTEE OF WAYS AND MEANS.

committees, with the policy of government, whereby they
sought, without (he knowledge or consent of the government,
to postpone the payment of a large portion of the public debt,
denominated the 'J per cent, stock, for a long period beyond the
time fixed by the government lor its reimbursement, was, in the
opinion ol'Uie committee, not only without warrant of law, but
highly reprehensible. The conduct of the bank in this transac-
tion, was fully examined by a committee of the house at the last
session of congress, and resulted in a report from the majority,
and a counter-report from the minority of that committee. To
these reports, hereto appended, the committee refer for all the
facia connected with this illegal and unwarrantable act on the
part of the bank. In neither of these reports is the conduct of
the bank approved. In the report of the majority it is admitted
that "it is due however, to the government, to express the opi-
nion, that the arrangement made by the agent in England for
the purchase of the 3 per cent, stock, and the detention of the cer-
tificates (which measures were subsequently disclaimed by the
bank), the institution exceeded its legitimate authority, and had
no warrant in the correspondence of the secretary of the treasu-
ry." The minority of that committee in their report, present
all the fuels in detail, derived from official correspondence and
documents, and from the personal examination on oath of a
part of the directors of the bank. Ileferring to these official re-
porU of a former committee, of the house, the committee deem
it unnecessary to do more than to call the attention of the house
to them as developing all the facu and circumstances connect-
ed with this transaction.

Hut it has been urged that the conduct of the bank, in regard
to the three per cent, stock, should have constituted no part of
the reasons which should have influenced the secretary of the
treasury in the removal of the deposites, because a majority of
the house of representatives bad, at the last session, expressed
an opinion, by the adoption of a resolution, that the deposites
may be "safely continued in the bank of the United States."
To determine what consideration ought to be given to such an
expression of the opinion of the house, it is necessary to look
to the circumstances under which it was given. By the journals
it appears that the committee reported to the house on the first
March, and on the next day (second March) the minority made
a further supplemental report. The resolution in question was
adopted on the second of March, being the last day but one of
the session. The reports of the majority and minority of the
committee were very long, and were accompanied by a mass of
testimony, upon which they were based, and which it had oc-
cupied the committee many weeks to collect. The reports had
not been printed, and could not have been examined or read by
any member of the house except the committee themselves.

The house, by this vote, did not approve the conduct of the
bank in regard to the three per cents. They expressed no opi-
nion that other causes than the insecurity of the public depo-
sites in the bank, would or would not be sufficient to justify the
secretary in removing them. These points were not presented
for their consideration or decision. The vote, in fact, amount-
ed to nothing more than a simple expression of the opinion of
a majority of the house, that as the deposites had been hereto
fore kept in the bank, for aught that appeared, (the reports of
the committee not having been printed or examined by the
house), they might be safely continued there. This expression
of opinion, given under the circumstances stated, ought not, in
the opinion of the committee, to have restrained the secretary
from the performance of his duty, if, in his opinion, the bank
had become faithless to its trust, or the public interest made it
necessary for him to act.

The next reason assigned by the secretary for the removal of
the deposites, is the unjust and unconscicntious demand on the
part of the bank for damages to the amount of $158,842 77, upon
the protested bill drawn by the United States on the French go-
vernment. A bare statement of the facts connected with this
transaction will show the true character of this demand on the
part of the bank. The bank is the fiscal agent of the govern-
ment, and during the whole period of its existence, has held on
deposite very large amounts of the public money, which it has
used (without the payment of interest to the government, in
loans to the community) and has been thus enabled largely to
increase its profits. From an official statement appended to
this report, it appears that the average amount of deposite of
the public money in thy; bank of the United States, and its offi-
ces, for each month, from the year 1818 to the yrar 1833, both
inclusive, (being a period of 10 years) was $6,717,253 67: the
annual interest accruing to the bank upon this amount of pub-
lic deposites), at 6 per cent, per annum, would be $403,635 22,
and for a period of 16 years, would be $6,448,563 5-7. During
the month of February, 1833, the government were desirous to
have remitted from Paris to the United Stains, the amount of
the first instalment due to the United Stales from France under
the Fieneli treaty of the 4lh July, 1831. For the purpose of
effecting the remittance in the most convenient and least ex-
(ifiiMve form, the government of the United States drew on the
7th of February, 1833, a bill on the French government for
$903,505 89, and sold the hill to the bank of the United States.
The bill was paid for liy the bank, not by cash advanced nnd
paid out of the bank, but hy simply c-uterini; the amount lo th
credit of the treasurer on the books of the bank, ami thuain-
MtiDg by that amount the public depogitca in ih" bank; the
bank continuing in the possession and use nf the money as be-
fore the. purchase, with this difference only, that the nmoiinl
paid for the hill was mibjnct, with the other public money* on

deposite, to be drawn for by the government as the public ser-
vice might require. The bill was sold by the bank in London
and forwarded by the purchaser to Paris for collection, where
it was protested, because Ihe French chambers bad failed to
make provision for its payment, and was afterwards taken up
for the honor of the bank, by its agent. The government im-
mediately paid back to the bank the principal of the bill.

But the secretary of the treasury declined paying the damages
which the bank claimed. In the monthly statement from the
bank of the 3d of June following, and in all the monthly state-
ments since that time, (in each of which is contained, amongst
other things, the bank's account with the treasury), the follow-
ing item is charged by the bank, to wit: "Due by the U. S. for
protested bill of exchange on France, $158,842 77."

What makes this demand the more unconscietitious, is, that
during the whole period, from the 7th of February, the day the
bill was drawn, until it was repaid to the bank, the public de-
positor in bank, and which it held and used without interest,
greatly exceeded the amount of the bill. The bank then did
not in fact suffer any damages, or losses, other than the inter-
est, cost of protest and re-exchange, which the government
promptly, and without hesitation, avowed its willingness to re-
pay, together with the principal of the bill. But the bank claims
more than this. They claim $156,842 77 as damages, not on
the ground that any damages were in fact sustained, but upon
a technical claim of a legal right to damages. Under such cir-
cumstances, the committee consider it to have been the duty
of the secretary of the treasury, not only to decline making the
payment, but to discontinue the fiscal agency of an institution
capable of asserting so unjust a demand, and seeking to enrieh
itself at the loss of its principal. Here was a bank which, for
upwards of 16 years, had had the use of an average deposite of
public money of near seven millions of dollars, without the pay-
ment of interest, deriving a profit from the use of the public
money during that period of upwards of six millions; and ut the
very moment when it has in uss millions of the public money,
is taking advantage of the disappointment of the government
which employs it, and that disappointment too growing out of
an unforeseen contingency, against which the government
could not guard; and seeking, upon what it is pleased to regard
as the strict law of the case, without even color of justice, to
make the government, in whose employ it is, pay in damages
the large amount already stated. No prudent individual, who
had any regard to his own interests or rights, would continue
an agent who would manifest such an utter disregard of his in-
terests. An individual would have taken his business out of
the hands of such an agent. The secretary of the treasury, as
the only authorised agent of the government competent to do
so, has done nothing more, by the removal of the deposites,
than discontinue the fiscal agency of the bank of the United
States.

In the view which they have here presented, the committee
have proceeded upon the supposition that by the strict lair, the
bank might demand the damages in question. If that were the
case, the demand would be most uuconscientious and unjust.

The committee do not, however, concede that the bank has
even a legal right to the damaces claimed. In general, the
drawer of a foreign bill returned protested, is liable for the
amount on the face of the bill, for interest, for cost of protest,
for re-exchange, and for the reasonable expenses which have
been incurred by the dishonor of the bill, and, according to llio
general usages which regulate foreign bills of exchange, he i*
liable for nothing more. There is no general commercial usage
which gives damages of 15 per cent, or at any other rale, on the
return of a protested foreign bill of exchange. Damages of that
description, whenever they are allowed against the drawer, are
either given by statute or depend upon the established local
usages of particular places, and not upon the general usages of
trade. In the United States, the amount of damages, recovera-
ble upon a foreign bill returned protested, varies according to
the local usages or statutory provisions of the different states,
respectively. In Massachusetts the damages are 10 per cent.
JH addition to interest and cost of protest; in Pennsylvania the
damages are 20 per cent, on bills drawn on Kurope, and return-
ed protested. In Maryland 15 per cent. The amount of da-
mages in the respective states being regulated hv statute, there
is no general u*nge pervading all the states, which can miniate
the amount of damages. This hill wns drawn and sold to the
bank at the treasury in the District of Columbia and in that
portion of the district which was before the cession to the U.
Stales a part of Maryland. The risht of the hank to recover
the damages claimed, must depend upon the laws of Maryland,
still in force in Ibis district congress never having passed any
law on the subject since the cession of the territory, and the
exclusive jurisdiction over it lo the United States. The only
statute of the state of Maryland in force in that part of the dis-
trict formerly held by Maryland, is an net passed in 173T>, chap.
33, S. l.by which it is provided, "That upon all hills of ex-
change hereafter drawn in this stale, on any person, corpora-
tion, company or society, in any foreign country, and regularly
protested, the owner or holder of such bill, or the person or ptr-
soni, company, society or corporation, entitli d to the >ame. shall
have a right to receive and recover so mnrh current money as
will purchase a coo*l hill of exchange of the snine lime of pay-
ment, and upon the same place, nl the current evehange of
Kiie.li hi!U, &c.; also, fifteen percent, ilainnae* upon the v line
of |he principal sum mentioned ill soon hill, and co-st of protect,
together with legal interest upon tho value of lliv principal sum

NILES' REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS. 45

mentioned in such bill, from the time of protest, until the prin-
cipal damages are paid and satisfied." The account rendered
by the bank (see letter of cashier of the 13th May, 1833, hereto
annexed), appears to have been made out according to the pro-
visions of this act, and the question is, whether this bill is em-
braced by the act of 1785.

The committee are of opinion that a bill of exchange drawn
by the United States, is not embraced by this act.

The state is never construed to be included in the general
provisions of a statute, unless it is expressly named, or the lan-
guage of the law, or the nature of its provisions plainly imply,
that its enactments were designed to bind the stale as well as
individuals. A bill of exchange drawn by the state would not
have embraced by the act of 1785, already referred to, because
the state is not named in the act, and the whole scope and lan-
guage of the law, shows that its object was to provide for the
dealings of individuals, corporations, companies, societies, and
not to regulate the action of the government by which it was
enacted. The large damages mentioned in the law, are evi-
dently intended for the benefit and convenience of commerce,
and to prevent persons from drawing bills on foreign countries,
where tlie drawer bad reason to believe they would not be ho-
nored. The reason could not apply to the state, and there can
be no ground to suppose that the state, in passing this law, in-
tended to inflict upon herself a penalty, if a bill drawn by her
should be unexpectedly returned protested. If a bill then
drawn by the state of Maryland on a foreign country, and pro-
tested, would not have entitled the holder to the 15 per cent,
damages against the slate under this law, neither can these da-
mages be claimed against the United States, who now stand in
the place of Maryland, in that part of the District of Columbia
where this bill was drawn. But this bill is not embraced by
this law, because a bill drawn by an individual on a foreign go-
vernment, would not be included by the terms of the law. The
language of the law confines its operation to bills drawn on
"any person, corporation, company or society, in any foreign
country," and these words cannot by any fair rule of interpreta-
tion be conslrued to mean a foreign nation, or to embrace a
bill drawn on a foreign government. Neither the drawer nor
drawee then, in this case,seem to be embraced within the pur-
view of this law; but if they were, yet this transaction does not
seem to be one of the description for which it intended to pro-
vide.

A bill of exchange, as known in commerce, is of itself a suffi-
cient authority to the drawee to pay the money, and a proper
endorsement on it transfers the right to the endorsee, and the
bill and its endorsements do not require the aid of any other in-
strument to give them force and authority. The endorsement
of the bill by the payee, in blank, is of itself sufficient to war-
rant the payment to the holder. The bill in question is not an
instrument of this description; standing by itself it was of no
value, and gave no right to the payee or the holder to whom he
might endorse it to receive the money. It was deemed neces-
sary by the parties to this transaction, that there should be
other and higher authority, in order to enable the bank to re-
ceive the money, and this authoiity accompanied the bill.

This authority was executed by the president of the United
States on the same day that the bill was drawn by the secreta-
ry of the treasury, under the seal of the United States, and
countersigned by the secretary of state, whereby the bill was
recognized, and the cashier of the bank (who was the payee),
or his assignee of the bill, was authorised to receive the money
and to give an acquittance to the French government, and the
bill, sustained by this authority, was sold to the bank at the
treasury, and the proceeds placed to the credit of the United
States on their books. The act of the president under the seal
of the United Slates, which accompanied the bill, was the only
instrument which conferred on the bank the right to receive
the money, and the only instrument which enabled them to as-
sign their right to receive it. The government and the bank
both acted with a full knowledge that the bill itself would be
unavailing to accomplish the object in view, and the proper
authority in another instrument was executed for that purpose.
This was a transaction between governments, and the authori-
ty given by the government of the United States to the bank to
receive the money from the French government, cannot be re-
garded in the commercial sense as an ordinary bill of exchange.

By the treaty, the money was to be paid by the French go-
vernment at Paris, "into the hands of such person or persons
as shall be authorised by the government of the United States
to receive it." In order, therefore, to obtain the money, it was
necessary that a person should present himself at Paris, with
the usual testimonials from the government of the United
States, of his authority to receive it. And the evidence of his
authority, according to the laws which regulate the intercourse
between nations, must be furnished by the president of the
United States, through the department charged with our foreign
relations. This was done in the power executed by the presi-
dent, before referred to. It was this power, and not the bill,
which authorised the demand upon the French government for
payment. The bill, without this power, would have been in-
sufficient; but the power without the bill would have been suf-
ficient. If the bill had been presented alone, the French go-
vernment might have refused to pay, without any violation of
its engagements. It was necessary that the person demanding
the money from the French government should have authority
accompanied by the customary testimonials in the intercourse
between nations, to receive it.

This authority the instrument executed by the president gave,
but none such was conferred by the bill alone. ID truth, the
bill of exchange and the endorsements contributed in no degree
to the authority of the holder to demand or receive the money.
His right to demand depended upon the formal power executed
by the president; and the bank, or its assignee of the bill, be-
came entitled to demand it by virtue of thU power, and not by
virtue of the bill or the endorsements on it. The bill itself, and
the endorsements on it, did nothing more than designate the
person whom the government of the United States, by the in-
strument executed by the president according to the treaty, had
authorised to receive it. The government and the bank show,
from the instruments executed, that neither of them regarded
the bill of the secretary of the treasury as sufficient to authorise
the bank or its endorsee to receive the money: for the bill stand-
ing alone, had no authentication which would entitle it to be re-
garded by the French government as sufficient evidence of the
authority of the holder to receive the money. The question,
then is, did the act of Maryland, of 1785 (under which these da-
mages are claimed) intend to give fifteen per centum damages
on an instrument in the form of a bill of exchange, which the
parties to it knew had none of its substance and qualities, and
upon the authority of which the payee himself did not rely? or
did the act mean to give damages on those instruments only
which are recognized and known' in the commercial world aa
bills of exchange, and possessing all the qualities of such instru-
ments? The act obviously alludes to the instruments known and
understood in commerce, when the bill itself, and the endorse-
ments on it are sufficient of themselves to convey the right to
the holder, and not to instruments in the form of bills, which
give no authority, and are merely useful in designating the per-
son on whom another instrument has devolved the power to re-
ceive the money. If the power given by the president to the
cashier of the bank, or his assignee of that instrument, as the
person authorised to receive the amount due to the United
States from France, and the bill had been endorsed to different
persons, jt is very clear that the assignee of the instrument exe-
cuted by the president, and not the assignee of the bill, would
have been entitled to demand the money. The bill of the secre-
tary wa* therefore one of the forms in which, for the sake of
convenience, the government gave its authority to the bank to
receive the money, and it is evident, from the papers executed,
that the bank, as well as the government, so understood it. The
parties to the bill in question, and the bill itself, is not therefore,
in the opinion of the committee, such an instrument as the act
of Maryland, 1785, contemplated, and that the bank is not enti-
tled, as o mere strict legal right, (independent of the manifest
injustice of the demand,) to claim the 15 per cent, damages by
virtue of that law. If an instrument, in the shape of a bill of
exchange, forming a part of such a transaction as this, between
two governments, is not to be regarded as the bill of exchange
known in the usage of trade, then the liabilities on bills of ex-
change will not apply to it, by force of the law which regulates
contracts amongst private persons.

The government is ready fully to indemnify the bank against
loss in this transaction, and the bank cannot, either in law or
justice, demand more. The committee think the bank had for-
feited all claims to be any longer trusted with the keeping of the
public moneys, and that the secretary would have failed to per-
form his duty, had he permitted the public moneys longer to re-
main with the bank.

In his annual message of December, 1829, the president of the
United Slates expressed his doubts of the constitutionality and
expediency of the bank of the United States. This part of the
message was referred to the committee on finance in the senate,
and to the committee of ways and means in the house of repre-
sentative-!; both of which made reports in favor of the bank,
which were ordered to be printed by congress. It appears that
the bank, not content with the circulation of these imposing
documents, through extra copies printed at the public expense,
through the newspapers, and all the usual channels of commu-
nication to the people, applied its corporate funds, and exerted
its corporate power, to multiply and circulate them through
pamphlets and extra newspapers into every part of the union.

In November, 1830, an article on banks and currency, exhibit-
ing great research and much talent, appeared in the American
Quarterly Review, which was by the president of the bank sub-
mitted to the board of director?, with a suggestion as to the "ex-
pediency of making the views of the author more extensively
known to the public than they can be through the means of the
subscription lists." The board, therefore, adopted the following
resolution, viz: "Resolved, That the president be authorised to
take such measures in rcgiird to Hie circulation of the contents
of an article on banks and currency, published in the American
Quarterly Review, either in whole or in part, as he may deem
most expedient for the interests of the bank." Here was no-
limit to the president's discretion, or the amount which he
was authorised to expend. His power was very extensively
exerted.

In his annual message of December, 1830, the president reite-
rated the opinion previously expressed by him in relation to the
bank of the United States. The subject was not agitated in
congress at that session, and that body adjourned on the 3d
March, 1831. The subsequent session of congress was neces-
sarily to be the long session, immediately preceding the presi-
dential election. Onthellth March, 1831, a resolution wag
adopted by the, bank, as reported to the president of tha United
States by the government directors, authorising the president

46 NILES' REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS.

of the hank to cause to be prepared "and circulated, s?uch docii-
nients and papers ,ts may communicate to tin- people iiifnruia-
tin, i in regard to Hie iialure and operations ol' ihe bank." By
this resolution, the president was authorised, not to cause spe-
cific papers to lie printed and circulated as before, but power
was conferred upon him to lure writers, for Ihe purpo.-e of pr
paring documents and papers, without designation as to Ihcir
character or numbers, to employ piintcr.* to print them, and
carriers to distribute them. Neither was there any restriction
as to the amount of luiuls which he was authorised to employ
in carrying into effect this new system for disseminating infor-
mation among the people. A short time alter the passage of
this resolution, conferring upon the picsidenl of the bank such
extraordinary and unusual powers over the funds of the bank, a
negotiation commenced, (as appears by the evidence accompa-
nying the report of the investigating committee in 1832), in re-
lation to a press in New York, in the progress of which Ihe pre-
sident of the bank, on the 26th day of March, 1831, advanced
$15,000, which was not entered on the books of the bank as a
loan until January 2d, 1832 The paper which had before that
time been decidedly oppo.-cd to the bank, imineilialelv became
JU advocate; and in a lew months, the notes discounted for it-
benelil amounted to .$52,975, and at periods of from six months
o five years, the last of which did not fall due until the year
1836, and several months alter the bank chillier would expire.
These were credits altogether unusual in Ihe regular business
of banks. AboHt the same period large sums were advanced to
editor:! of political papers in other parts of the union. During
this period a most unprecedented extension of loans was grant
ed by the bank. For some years, its loans had not varied nine h
ill the aggregate from forlv millions of dollars. In October. 1830,
they amounted to $40,527,523. From that lime they began ra
pidly to extend, and on the 1st of May, 1832. amounted to
$70,428,007. In eighteen months the extension was near thirty
millions, being at the rate of about two millions per month.

Whilst these accommodations to editors, and rhis great exten-
sion of its loans, were in progress, the hank in December, 1831,
applied for a renewal of its charter, which then had upwards of
four years to run. A bill to renew it passed both hon-es of con
gress, was presented to the president of the United States, and
on the 4lh of July, 1832, received his veto.

The president was then a candidate for re-election, and that
question was to he settled in November of that year. The power
givttii to tin- president of the bank by the resolution of the 11 ill
March, 1831, was during that and Ihe succeeding year exerted
with great industry. The fact of the existence of this resolu-
tion, and the expenditures under it, came to the knowledge of
the president for the first time, through the report of the govern-
ment director*, during the last summer. From that report it
appears, that for the last half of 1829 these expenditures were
$3,765 94, giving as an average for the year $7,531 88. In 1830
they increased to ($14,081 47, about $7,000 of which were "for
printing and distributing the reporl of the committee of ways
and means, and Mr. Gallalin's pamphlets." [n 1831 Kiev in
creased to $43,204 79, and in 1832, they were $38,667 88, of
which ,$28,543 72 were incurred in the last half year, including
the presidential election; so thai ihese expenditures continued
to increase from 1829 up to the presidential election.

So far as communicated by the government directors, the do-
cuments and papers printed and distributed with this money,
appear to have been chiefly reports of committees in congress,
and speeches of members friendly to the bank, and generally
opposed to the president; extra newspapers containing similar
matter, and other electioneering matter calculated to defeat the
election of the president; reviews of speeches and of the veto
prepared with the same object; addresses to state legislatures,
and editorial articles in favor of the bank.

It is further stated by the government directors, that for about
$24,UOO of the expenditures, no vouchers whatsoever had been
rendered. The several sinus were paid on the orders of the pre-
sident of the bank, referring lo the resolution of llth March,

1831, as Ins authority to make the expenditures, hut not stating
the persons to whom they were paid, nor the purposes for which
they were expended. Nor does ji appear that Ihe board of di-
rectors, or any committee of the hoard, or any other person, ex-
cept the president of the bank and the parties receiving Ihe mo-
ney, passed upon the claims, or know for what object this large
expenditure was incurred. As the government is Ihe owner of
the fifth of the capital stock of the bank, one fifth of this unwar-
rantable expenditure was the money of the people.

In this narrative of facts are ffiiiiiri ample reasons to justify the
ecrelary in the removal of Ihe ricpositcs. It seems impossible
to resist the conviction, that from 1830 down to November.

1832, the hank was managed with reference to the presidential
election; that all its mighty means and power were exeried to
influence and control the people in ibe exercise of their right of
tiffrage, and secure a reelmrlcr, by filling congress and the cv
ecuhve offices with its friends anil supporters. It was said In
a wie man of antiquity, "that the borrower is the servant of the
lender" and with equal truth it has been reccntlv a~-crli-d.
that "he who controls a bank, controls the d< hi or- of that hank."
No adequate motive <-an be conceived for the unprecedented
extension of the business of the bank from forty to sevent>

millions of dollars ighieen months, but n determination to

make as many debtors to the hank as possible, and thus brin
multitudes of men under its control. Through the f ( -ar of being
pressed too severely for re payment it might have been reasona-
bly expected that inoal of the debtors, and the fuends thy

could influences, would support the bank in a struggle fora re-
charter. While this process ol extension was going on, nume-
rous editors of political papers appear to have received large
.-urns of the bank's money, and were thus prepared to advocate
niea-ures or men, as the ultimate interests or views of that in-
flilulion or its manageis uimhl indicate or require. Cotempo-
raneon.-ly the fund- of thw hank were put at the diposal of ils
president, to he used without limit, ami their expenditure sanc-
tioned without vouchers, as a means of accomplishing Ihe great
design.

Connected with these operations was the conduct of the bank
during the same period, in the three per cent, transaction, exa-
mined by a committee of congress last year, whereby the bank
attempted to baffle the government in its efforts to pay the pub-
lic debt, and secretly sought the aid of foreign bankers to in-
crease Us means to control the government. In addition to its
failhles.snt-.ss to thr government, the bank seems to have formed
a foreign alliance, and procured foreign aid, in its war with the
president of the people. The three per cent, transaction was
condemned by the committee of ways and means last year, as
alieaily staled, and the pretences on which it sought to be justi-
fied, declared lo be unfounded. Of itself, it would have justi-
fied a removal of the deposites; but it seems to have been but
an incident in ,i grand scheme, lo make our whole people and
their government subservient lo this moneyed incorporation.
A scheme, which, if successful, would have left us but the
name of a republic.

lint (he hank a- not content to submit to its fate and exe
cute its duties as a faithful agent of Ihe government, when, with
all its debtors, its presses, iis advocates, ils foreign aid, hired
writers, and extra documents, it received the dicisive rebuke of
the American people in the result of the presidential election.
During the last summer, one of the governmentdirectors, by be-
ing placed on the dividend committee, a tempoiary body ap-
pointed every six months lo ascertain what dividend shall be
declared, discovered in the expense account of the hank, some
of those items lor printing which have since been reported. On
consulting his colleagues, the other government directors, tlmy
deemed it their duly lo inspect thai account. Having done so,
and found that it gave no definite information relative lo large
portions of Ihe expenditure, they brought the subject before the
board, for the purpose of obtaining more certain information and
recinding the resolutions under which it had been incurred.
Nol only did the board refuse to cause the account to be staled
wiih such percision that it could be understood, and to rescind
the resolutions of the ;(0th of November. If30, and Match llth,
1831, but, instead thereof, resolved us follows, viz:

"That the hoard have confidence in the wisdom and integrity
of the president and in the propriety of the resolutions of 30th
November, 1830, and lllh March, 1831, and entertain a full
conviction of the necessity of the renewed attention to the ob-
ject of Ihose resolutions; and that the president be authorised
and requested to continue his exertions for the promotion of that
object."

Thus was the formal sanction of the board given to the acts
of Iheir president under their former resolutions, and he was
stimulated to renewed vigilance in employing writers and pressea
to influence the public mind. Tims, expressly did they approve
of the expenditure of the $24,000, without vouchers, and promise
to their president future immunity and irresponsibility for the
use of any larger sum.

Corporations have no powers bill such as are granted in their
charters, and those necessarily incidental. As tin incident, the
hank of ihe United Slates has an unquestionable right to pro-
cure and pay for hank notes, the necessary blanks and such
other papers as are requisite in the transaction of all business
which it may he expressly aulhorised to perform by ils charier.
When ii proceeds further, and prints documents, speeches,
handbills or newspapers, ii transcends the power granted to it.
The bank of the United States was not created "to communi-
cate to the people information in regard lo" its own "nature
and operation" or the acts of iheir chosen rulers. The people
supposed they understood its "nature and operation" before
they gave it existence, and they tolerated its establishment as a
servant, and not as a teacher. Few would have been found to
advocate ils creation, if it had been a provision of its charter
that it might apply its corporate funds to the printing and circu-
lation of such congressional reports, speeches anil other political
documents, as its managers might deem useful in conciliating
public opinion to its management, and even to the hiring of
wriiers to advocate its interests, and circulating denunciations
against the constituted authorities for their official acts. Cer-
tainly no friend or enemy of ihe bank at that lime conceived
that the bank had a right to employ its corporate funds for the
purpose Of teaching tin- people how to estimate the acts of Iheir
representatives, in either ihe executive or legislative branches
of Ihe government. The idea that such a right was veiled
under the charter, or any of its provisions, would have been
fatal lo ils passage. Is it less alarming that it has now usurped
the right. 9

The conduct of the hank, in this respect, has been attempted
10 lie justified on the ground of self defence. The error in this
point consi-K in considering ihe bank nnd its managers as iden-
tical. The bank has not been attacked. The president of the
U. States, in his messages to congress, has expressed his opinion
that the charter ought riot to he renewed, and has pulhis consti-
tutional veto on a hill puttied by congress for that purpose. But
this was no attack upon the corporation, for, lo a renewal of iu

NILES* REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS 47

charter it had no legal right. None of the chartered lights of
the bank have heeu wr< sled from it; no judicial process ha
been instiluled to vucute Us charier. When such attacks are
made, no man will complain of the bunk lor defending itself in
Uie com is ii\ tlie t'iii|ili>> nirni of coun-i I, and paying their !<.-
out u( Hie corporate funds. But the president and directors of
tlie bank have no right to use thu luini> of the institution in
making publications vindicatory of their own management, or
tending to show that the president of the United Stales lias
been guilty of usurpation of power, or dereliction of duty in re-
fusing his assent to u renewal of its ch.iili r. The.-c are mat
lers winch belong to the loruin ol the public; into the discus-
sion of which the inanageis ol the bank, in common \\itli other
citizens, had a light to enter, not in their corpoiate, bin in their
individual capacities, and at their own expense. The manager*
of the bank, if assailed lor misconduct, may, like every oilier
citizen or olhccr ol ti.e government. ilHrnd themselves, but not
by Hie use ol the uorporale funds or power. They may expend
their own money without limit, in employing w mi r.- ami piess.cs.
to defend them.

What would be said of the president of the United Stales if
be were to expend the money in the treasury in printing con-
gressional rrpoitr, and speeches, hiring writers, employing cili
tors, printers and distributors, for the purpose of defending him
sell and the executive officers against attacks made upon them
from sources official and unofficial? If he were to request con-
gress to put the whole dcpo.-iu-s of the treasury at his disposi-
tion, lor such a purpose, how would it be received? If the se-
nate and house of representatives were to employ their contin-
gent fund in printing and circulating speeches of members, and
articles prepared by hired writers, paid from the same fund,
under pretence of defending the members of the liun.-e against
the attacks daily made upon them, would it be tolerated by the
Aineiican people?

The committee consider this delegation of unlimited and ir-
responsible power to the president of the bunk over the whole
funds of the institution, the most atrocious violation of the bank
charlei,and the most daring abuse oi its power, which lias
hitherto been disclosed.

It is sufficiently alarming that the government directors have
been deprived of all participation in the principal business of the
bank thai, its most important discounts and other business are
managed by committees selected by the president, who seldom
report that the restrictive provisions ol the charter have been
subverted by arbitrary rules, and responsibility to the govern-
ment, which owns a tilth part of its slock, in effect destroyed.

But, in addition to all this, here is a discretionary power
vested in the president ot the hank alone, to be exercised with-
out the responsibility of rendering specific accounts, or vouch-
ers, under which he may apply hundreds of thousands and mil-
lions to operate on public opinion, and through the prostration
of enemies, and the advancement of friends, procure a new
charier. In causing to be piepared and circulated such docu-
ments and papers as come within the scope of the authority
vested in him, he may hire editors, and set up newspapers
throughout the whole union, and by the use of unlimited sums
of money, without appropriation or accountability, he may dis-
tribute a patronage more potent than that of many governments,
because all wielded by Hie same hand, to secure a single object.

When Ihe government directors, as liiithful sentinels over the
public interest in the bank, communicated the fact that this
power had not only been assumed by the bank, hut that its
managers were determined that it should be wielded with re-
newed energy, and lor an indefinite period, the secretary of the
treasury was fully justified for this reason, if there had been no
other, in severing us connexion with the government, and, as
far as he legitimately could, lessening its power.

It will be seen by the views already taken by the committee,
that in their opinion, the deposites have been lawfully removed
from the bank of the United Slates, and the money now in the
treasury has been legally deposiied in the state banks.

In these circumstances, it remains to be considered, whether
any, and if any, what legislation is neces.ary, in consequence
of the change of the deposites.

It is the opinion of the committee that the bank of the United
States ought not to be reclnirtered. The constitutional objec-
tions to it are, in their judgment, insuperable; and if its charter
could be justified by the constitution, recent events have de-
monstrated that the continued existence of such a vast con-
centrated money power, must prove dangerous to the freedom
and purity of our institutions.

And after the greal abuses of which it has been guilty, a re-
charter, under any modifications, would he offering the liigh le-
gislative sanction and approbation of congress, to the various acts
of misconduct detailed in tins anil former reports lo congress.
It is impossible that a corporation, which is proved to have
used its money to corrupt the press, to influence elections, and
control the government, can ever be selected as tlie peculiar ob-
ject of the favor and bounty of the government. The bank
ought nol therefore to be recharted on any terms. And as the
charter ouaht not to be renewed, it is manifest that Ihe de-
posites ought not to he restored to it. For, setting aside the va-
rious acts of misconduct, by which the present corporation has
justly forfeiled the public confidence, it is obvious that the resto-
ration of the deposites to the present bank, to be removed again
in two years, would produce nothing but the most serious evil
and distress to the country, without any possible advantage. The
restoration of the depusites and the recharter of the bank, are,

in the judgment of the committee, inseparably connected to-
gether, and nt iihcr can with any propriety be adopted wuhuut
the. other.

The question then arises, whether Ihe state banks should be
continued a> the fi.-cal agents ol Ihe. government.

The cominitlt-e are saiislicti that the state banks are fully com-
petent to pei IOMII all the services which the general govt inment
ought to require, in tin: collection ami disbursement of the re-
venue; run! to uttord also all the facilities to the intein:.! com-
merce and exchanges ol the country, winch have been derived
fiom the bank of the United Slates.

'I In- collection and disbursement of the public revenue may
be safely placed when, the tages v> ho framed the com million
left it. They ditl nol deem a national bank essential, > ithi.r to
the government they were loiuiing, or to the .-uecessiul admi-
nistration ot ils finance*. The opinion ha- alii ady tieen ex-
pressed, Ihat the Male banks aie competent to pcrioin, all the
liniirs which the government or the public convenience may
requite. And theie are many ciicumstaiices which strongly re-
commend them lo a preieience over Ihe bank of the United
States. No one ol Hit lu can exerci.-e a general contiol ovt r all
Ihe others, and expand anil contract the whole cumin > ol Ihe
country at its pleasure, to favor the private speculation.- of in-
dividuals, or to increase us own profits. And they ca n never
combine together lor political object.-, nor hope to gain posses-
sion of the government, and control us operations. The stale
banks are now firmly interwoven wilh the in.-tilulious of the
country. They are generally under the management ol .citizens
as respectable, as trustworthy, as any directors of the bank of
the United Slates. And it would be unjust, and coiura ,y to the
spirit of our institutions, Ibrcongrefs to sustain a greal i.iom yed
power to overawe and oppress them, and bring ruin uf-un mul-
titudes of our citizens, whenever cupidity or amhiunn shall
tempt them to excrcUe Iheir power. The slock of tlie bank of
the United Stales has fallen lor the most part into the Lands of
the great capitalists of this and foreign countries, who have but
little sympathy for lln- suffering of our people, when tlieir owu
sordid or ambitious views makes il Iheir inteie.-t lo intlii l it.

If it should be niged as an objection lo the state ban \s, that
they cannot afford a general currency, the answer is obvious.
If il were necessary to create a paper curiencv, possessing equal
credit wilh that of the present bank of the United States, the
object can be as well accomplished wilh the stale banks, aj
with Ihe bank of the United Slates. The provision winch has
made the latter current every where, is the clause in the char-
ter which compels the government to receive their notes in pay-
ment of all debt* due lo the public, and a similar provision in
litvor of Ihe stale banks, which might be selected as the depo-
sitories of the money of Ihe Uhiled Stales, would immediately
make their notes equally current, and t nMire for them equal
confidence in any part of the United States.

But the committee are not prepared to recommend the adop-
tion of such a measure. They are convinced that all which
public convenience requites, in this respect, will soon be ac-
complished by arrangements among the banks themselves; and
that there ought to be no legislation of congress lor the purpose
of establishing a currency of paper.

The main object of legislation should be, to enlarge the basis
of specie, on which the paper circulation of the stale banks is
lo depend for support. And Ihe committee are persuaded, that
by the adoption of the stale hanks as the fiscal agents of the ge-
neral government, and a judicious course of legislation founded
upon it, thai a sounder state of the currency than now exists
would soon be attained, and the couniry rescued permanently
from the dancer of those sudden expansions and contractions of
the paper currency which have been constantly succeeding each
other, since the bank of the United Stales was established,
which have brought such severe and extensive evils upon Ihe
country. The aid and co-operation of the several slates may he
relied on. to banish giadually the smaller nous, and introduce
in their place silver and aold, for ordinary domestic purposes,
and the convenience of travel between distant places. Such a
reform if strongly called for by sound policy, and the best inler-
ests of the couniry, ami the accomplishment ol an object so de-
sirable, may be mainly accelerated by laws passed by congress,
adjusting the standard of value of our coins, and repulalina the
deposites and collection of Ihe revenue. If gold and silver were
hioiiL'lit into common use, and the small notes banished from
circulation, pa> infills of small sums would probably be made in
specie. The sreal objeci is nol to diminish Ihe amount of ihe
ordinary circulating medium, hut lo give il a broader and firmer
foundation on the precious metals.

Wilh Ihese views, the committee are of opinion that the state
banks oiisht to be continued as the depositories of the money of
the United Slates, and dial measuies ought forthwith to be ta-
ken, to regulate by law the manner in which they shall be se-
lected, and lo ensure the safety of the public money.

According to the Inw, as it now stands, the duly of selecting
the banks, and of prescribing the securities to be taken is de-
volved upon the secretary of ihe treasury, under the supervision
of the president. This power has been In relolore exercised by
the head of the treasury department, and in a manner advanla-
ifs lo the public, nnd it is not doubled, if the law should con-
tinue unchanged, thai it may anil will continue lo be so exer-
cised by the head of that department yet il is ihe opinion of ihe
committee, that discielionary power should never be Riven, in
any case, to any officer of the government, where it can he re-
guiated and defined by law. They think that it would be moro

48 WILES' REGISTER MARCH 15, 1834 COMMITTEE OF WAYS AND MEANS.

consistent with the principles of our government, for congress
to regulate by law, the mode of selecting the fiscal agents, the
securities proper to be taken, the duties they shall be required
to perform, and the terms on which they shall be employed.

In accordance with these views they accordingly report for
tbe consideration of the house, resolutions declaring that the
bank of the United Slates ought not to be rechartered, and that
tbe sttte banks ought to continue to be employed as the fiscal
agents of the government, under such regulations as congress
shall prescribe.

Before they close this report, the committee consider it to be
their duty to stale, that in their judgment, a necessity exists for
AH imnediate examination into the conduct of the bank, and
they pioceed to state ihe grounds which make il absolutely ne-
cessarj, that a strict and rigorous scrutiny should be instituted.
They think such an examination necessary in reference to the
security of the interests which the United States as a stockhold-
er hav in the batik, as well as to correcl as far as practicable,
the atases of which it has been guilty, and to prevent it from
using is corporate power and money for purposes of corruption
and Digression.

Numerous memorials have been referred to the committee,
compliining of embarrassments in mercantile transactions, some
attributing them to the removal of tbe deposiles, and others
chiefly to the subsequent conduct ot the bank of the United
States. That serious embarrassments exist in many of the com-
inercul cities, cannot be doubted, and it seems necessary clear-
ly to ascertain Ihe cause before an altempt be made to prescribe
the resiedy. The powers possessed by the committee are in-
adequate to that object, and they are unable to do more at pre-
sent, tian to submit the facts which have come to iheir know-
ledge, with the course they seem lo suggest. That the simple
transfer of e sum of money from one bank of deposite to ano-
ther, could have produced the commercial embarrassments com-
plained of, is impossible. The public deposites have not been
annihilated; nor have they been transported from the country;
they ate still in the country, and in the use of the community.
It lain vain that they look for the cause of embarrassment in
the sute of our markets, or the operations of trade. Our agri-
cultural productions, and manufactures generally, bear a good
price; foreign exchange is at its lowest rate; the balance of trade
is decidedly in our favor, and the precious metals are flowing
in upon us from South America, Mexico- and Europe. None
can doubt the power of the bank tocreale embarrassment when-
ever its managers deem it expedient. In four months, com-
mencing with August last, and ending with November, it called
in $9,707,245 of iis loans. .As ihe state banks could not com-
mence extending until they began lo receive the public depo-
sites in October, and from that till December could not, in their
extension, keep pace with the curtailment of the bank of the
United States, it is evident thai such rapid curiailmenl by ihe
bank of the United States must have created some sensation in
tbe commerce of the country. But it is easy for the bank of the
United States to produce universal embarrassment, without any
aggregate curiailmenl of its accommodations, by calling in ra-
pidly one month, letting out the next, and calling again during
the third; while il loans out in one place what it curtails in ano-
ther, and in this manner, fulls upon all the commercial cities in
rotation, il may more effectually embarrass trade than by a stea-
dy curtailment. When the policy of the bank is unsteady and
capricious, producing a scarcity of money to-day, and an abun-
dance to morrow, lo he succeeded by a greater dearth the next
day, it is impossible for merchants lo conducl business with
safety, and prudent men will restrict or discontinue their ope-
rations. The bank has long enjoyed a large portion of ihe bu-
siness ef domeslic exchange, and whenever il chooses to cut
off ihe supply in any or all direclione, embarrassmeni and diffi-
culty naturally ensue.

There is much reason to suspect that the bank has been ma-
naged, for Ihe last six monlhs, with a view to embarrass the
community, as a means of operating on public opinion, and con-
trolling the action of government.

In the proceedings of the bank, in relation lo domestic ex-
change, as far as known, are perceived indications of a dispo-
sition to use the power il possesses Ihrough that branch of its
business, for the purpose of producing excitement and distress.
The government direclors inform us, in Iheir memorial, thai
on tin 1 Kith of August last, two weeks before the Ireasury agent,
returned from hi* mission to confer wilh Ihe state; banks, and
five weeks before Ihe determination of Ihe execulive was an-
nounced, Ihe board of direclors adopted a resolution, declaring:
"Thai the bills of exchange purchased at the bank, and all
the offices, except the rive western offices, shall not have more
than nineiy days lo run. That the five western offices be in-
structed to purchase no bills of exchange, except those payable
in the Atlantic cities, not having more than ninety days to run,
or those which may he received, in payment of existing debls
to the bank and the offices, and then not have more than four
months to run."

The government directors inform us, that on a subsequent
day, a series of resolutions were adoptrd for reducing Ihe bu-
siness of the institution, and authority given to the committee on
tke officct to modify (Hem at pleasure, and although a strenuous
effort was made to require them to report such measures m
might he directed by them lo the board, the proposition wot cot-
td rfo.cn.

Thu, in direct violation of the charier, and in defiance of nil
prudence and propriety, was the whole power of thi* vast and

powerful corporation to relieve or to oppress vested in a com-
mittee, who are not subjecl lo the responsibility of even making
reports lo the board of directors. A few irresponsible men, is-
suing secrel orders from Iheir private chamber, possess more
power to distress tbe American people, than any department of
their government, or all departments, by an act short of a de-
claration of war. What the resolves and orders of this potent
body have been, we have no means of knowing. The president
of the bank who is ex officio a member of this committee, and
undoubtedly directs its operations, is also clothed wilh unlimit-
ed power to set the press in motion for the purpose of promot-
ing the views of Ibe bank. For monlhs, those presses which
are known to have been sustained by enormous loans, and those
which have received the most liberal allowances for printing,
have been incessantly engaged in an effort to spread alarm and
dismay throughout the land. Il is impossible nol lo suspect
that the secret management of the bank, and the use of its funds
by its presidenl, are in perfect concert with their dependent
and devoted presses, all aiming to create a general panic, and
produce the same result. That result is the restoration of the
depositee, and, iis certain consequence, the recharter of Ibe
bank.

If any thing was wanting to confirm, these suspicions, Ihe al-
leged refusal ol this bank lo co-operate wilh the state banks in
their laudable efforts to relieve the existing pressnre upon the
community, in Ihe larger commercial cilies, is sufficient to re-
move all doubts from the minds of the most incredulous.

It is due to Ihe country, thai Ihe source of Ihe embarrass-
ments which oppress a porlion of its commerce shall be laid
bare. Should they appear lo spring solely from Ibe manage-
ment of the bank, wantonly and wickedly directed lo produce
Ibem, il may become Ihe duly of congress to resort lo all the
means wilbin Iheir constitutional authority to check its career.

If it shall appear that the bank, by means of its money and
the papers under its control, has wilfully and intentionally pro-
duced Ihese embarrassments; and if iis power has thus been
abused, it cannol be endured that for two years longer it shall
be suffered wantonly to excite alarm in the counlry, lo direct a
pressure first on one point and Ihen on anolher, enlarge at one
place and contract in another, for the purpose of continuing lo
ihe end of its existence the evils which there is too much rea-
son to believe it has already inflicted on the community. If,
upon examination, it shall be found that il has been guilty of
such offences, its charter cannot be too soon terminated, and a
scire facias would be imperatively demanded to put an end to
'ts machinations against the peace and interests of Ibe people.
The government owns seven millions of its stock, equal to one-
fifth o! the whole amount. It is the duty of congress to see
that it be not used lo oppress the people and subvert the princi-
ples of our government. Of every hundred thousand dollars
spent by the president of the bank, or distributed to advocates
under the name of loans, and forever lost, $20,000 belong to the
people of the United Slates. Thai Iheir property may not be
wasted, thai the cause of their distress may be ascertained and
a remedy applied, and above all, thai iheir own funds, and the
money and power of this corporation may not be employed to
subvert the principles of Iheir government by controlling their
elections the committee deem it necessary, that there should
be a thorough investigation into the alleged abuses and corrup-
tions of that institution, and particularly into the details of its
management for the last six months. To this end, they propose
a resolution lo invest a committee of the house with power to
make such investigations.

1. Resolved, That the bank of ihe United Stales ought nol to
be rechartered.

2. Resolved, Thai ihe public deposites ought not to be restor-
ed to the bank of the United Slates.

3. Resolved, That the state banks ought to be continued as
the places of deposite of the public money, and thai il is expe-
dient for congress to make further provision by law, prescribing
the mode of selection, the securities to be taken, and the man-
ner and terms on which ibey are lo be employed.

4. Resolved, Thai, for Ihe purpose of ascertaining, as far as
practicable, the cause of the commercial embarrassment nnd
distress complained of by numerous cilizens of Ihe U. Stales,
in sundry memorials which have been presented lo congress at
the present session, and of inquiring whether the charter of tbe
bank of the United Stales has been violated; and, also, what
corruptions and abuses have existed in its management; whe-
ther it has used its corporate power or money to control tUe
press, lo interfere in politics, or influence elections; and whe-
ther it has had any agency, through its management or money,
in producing Ihe exisling pressure; a selecl committee be ap-
pointed to inspecl Ihe books and examine inlo the proceedings
of the said bank, who shall report whether the provisions of ihe
charter have been violated or not; and, also, what abuses, or
nial practices have existed in Ihe management of said bank;
and that the said committee be authorised to send for \ter-
sonsand papers, and to summon and examine witnesses, on oaih,
and lo examine inlo the affairs of the said bank and branches,
and that they are further authorised to visit the principal
hank, or any of its branches, for the purpose of inspecting the
books, correspondence, accounts and other papers connccled
with its management or business; and thai Ihe said comniitltie
be required lo report the reull of such investigation, together
with the evidence they may take, at as early a day as practica-
ble.

NIL.ES' WEEKLY REGISTER.

FOURTH SERIES. Ne. 4 VOL. X.] BALTIMORE, MARCH 22, 1834. [VOL. XLVI. WHOLE No. 1,174.

THE PAST THE PRESENT FOR THE FUTURE.

EDITKD, PRINTED AND PUBLISHED BY H. N1LKS, AT $5 PKR ANNUM, PAYABLE IN ADVANCE.

Iu our account of the proceedings of congress we a
compelled to omit notices of many things which we ha
been accustomed to record; but this is of less important
than usual for very few important things will beattem
ed to or fully disposed of, until after the great subjec
under discussion are, in some way, put aside.

In conformity with the strict rule of impartiality th
we profess, with regard to what may be esteemed pe
sonal matters, at least, we have made room for the lette
of Mr. Taney, and the address of Mr. McKim, in co
sequence of certain statements contained in the report
the Baltimore committee, charged with the memorial
the citizens praying for a restoration of the public depo
sites. We have added the "card" of Mr. Georg
Brotvn, and shall give the response of the committee, i
our next.

The committee have fully replied to Messrs. Tone
and McKim, in a well-written address of considerab]
length, published in yesterday's "Chronicle." It make
three columns; and yet, with an earnest desire to give a
the papers belonging to this matter together, it mus,
therefor, be postponed. We could easily put it into type
but the character of the contents of the present numbe
is such, that, if we excluded every article over which
discretion might be exerted, the room for it could not b
obtained. We cannot, as the newspapers may, "mak
room," for we have no advertisements to lay aside, an
so relieve our pages.

The gentlemen reaffirm, in the most decided manner
the strict verity of all that they stated in their report
and of every word used by them. They reject, wit
much severity, the idea that any part of their report wa
founded on private or confidential communications wit
Mr. McKim saying "they have not stated one word
nor referred, by the remotest allusion, to one expression
used by JUr. McKim any -cohere but in their oivn rnom, '
when Mr. McKim paid them a visit, after their call upon
him, and remained two hours with them, conversing o
the subject of their mission, Sec.

We have some later news from Europe. The detail
are not of much interest and we can make space oulj
for the British king's speech on opening the session o
parliament on the 4th ult.

It will be seen that Mr. Webster was prevented, on
Monday last, from presenting his project with relation
to the bank, by an extraordinary discussion and proceed-
ing in the senate but that he olfered it on Tuesday.
Public opinion seems much divided as to the expediency
of this proceeding, at the present moment. Mr. W.
however, no doubt, has viewed the whole ground, and
thought it best to have some object a-head to aim at.
There is a report that Mr. Wilkins will, also, present a
plan for a bank, which may have the support of several
of the leading friends of the administration in the senate,
and it is probable that Mr. Webster's purpose was to draw
out one from the other party, by taking his new position.
We wish that something could be done to relieve us of
the pecuniary embarrassments which beset the people,
at large, and almost banish the hope of a reward for labor
performed; even the products of the earth, including the
most substantial and necessary articles for food and cloth-
ing, have fallen 25 per cent, in price, within the last four
months. This may help the consumers, but is hard on
producers, who have made engagements that were gra-
duated by the higher or general price of their commo-
dities. The diminished money-value of the bread stuffs
and meats, or live cattle, cotton, wool and tobacco, is of
an enormous amount. Flour at Wheeling has been sold
for $2 12 the barrel, at Alexandria for $3 75. Wheat,
at Frederick, Md. 75 cents, and so on. Let us- offer a
rough statement with relation to this subject.
Vot. XLVI Sis. 4.

If the general money-value of the bread-stuffs and
meats, of all sorts consumed, be equal to only 30 cents
per head per week, the aggregate value will amount to
-00 millions per annum. Three-fifths of these, perhaps,
are consumed by the producers of them, and the markct-
value of the remainder, at late prices, would be, sav

$80,000,000

Crop of cotton, at fair prices 35,000,000

Crop of wool 20,000,000

Crop of tobaceo 8,000,000

$143,000,000

If the reduced price is only at the rate of 20 per cent,
the money-value lost, in the whole year, would be nearly
30 millions, on these few leading artick s, to the growers
of them. The consumers would receive the benefit of
this, provided the price of -mages -were kept up, and em-
ployment could be obtained. Instead ol 30 cents per
nead, for an example, bread and meat mig^ht be had, at
the reduction supposed, for 25 cents; but it wages declin-
ed from 100 cents a day to 50 cents, or at that rate, the
loss to the laborer would be as 300 cents a week, for 5
cents gained, and so on.

The counter report of the minority of the committee
of ways and means fills a large portion of the present
sheet. Its length, as was the case with the report of the
majority, has much interfered with the general business
of the week. We hope for a little more variety in our
next paper.

The minority in the legislature of Virginia have pub-
lished a sixteen-column address to the people "on the
deposite question, and the present condition of the coun-
try." It is signed Joseph S. Watkins, chairman, and
Hugh .#. Garland, secretary, and earnestly calls upon
:he citizens of the state not to ''desert the present ad mi-
listration," and ''betray the best interests of their coun-
ry" "commit an act of treason, and deserve the bitter
curses of their children," &c. It is a discussion of mat-
,ers and things in general, but especially about the bank,
ind the removal of the deposites.

Several extracts from JViles' Register of 1818, are in-
roduced into this address. They consist chiefly of
jome remarks on a project then supposed to be entertain-
:d, of making "a paper currency a legal tender instead
if coin" to relieve the bank of the United States, and
Certain of the local banks, from the pressure caused by
heir own imprudent proceedings and, certainly, ntver
was business more wildly conducted than for some time
fter the establishment of the bank named, and in vari-
us respects, to say nothing of the great speculations in
'hieh some persons were engaged, and the frauds in
'Inch others soon after involved a considerable number
f our banking institutions. To all these things we
tood resolutely opposed, and, perhaps, had a degree ot"
ifluence, (in the freedom with which we spoke of them),

check their progress, and finally to restore the bank to
ic purposes of its establishment which was not for the
enefit of some twenty or thirty huge speculators, but to
irnish the people with a sound and uniform currency^

d on that occasion, we said, "Give me to live under
ly despotism but that which springs from the command
f money for it is the most base and unprincipled of
1." We thank the addressers for the honor conferred

1 quoting us. We took no ground then that we would
ot take now, in the existence of similar circumstances;
ut do not perceive how the matters stated in 1818 can be
ought to bear upon the real state of things, and actual

ontlition of the currency, at the time of the removal of
e deposites, or since so far as the bank of the U. S.
concerned. Money was abundant, and the bills of
at bank better than coin, as exchangeable eommo-
ties, because convertible into coin at the will and

N1LES' REGISTER MARCH 22, 1834 MISCELLANEOUS.

pleasure (if its holder, and prosperity abounded; all the
great pursuits of industry, in agriculture, manufactures,
commerce, and the mechanic arts, flourished and the
internal trade and business of the whole country was ot
a mighty and yet "onward" amount and success in all
these kept down the exchanges on Europe to rates that
were below real par, though the importations of foreign
goods were heavy. But how stands the case now? The
"command of money" assumed by the president of the
Tjnited States, has caused so great a want of paper redu-
cible into coin, (though coin is more abundant than it
was in years past), that there is not enough of it in cir-
culation to perform the ordinary business of the people,
and the banks hold fast to the coin which they have to
save themselves, if it be possible, in the ruin which
seemingly impends, through the loss of public confidence
HIM! a wide-sweeping bankruptcy; and the demand for
labor is immeasurably diminished, in the uncertainty of
a reward for it. Bills on Europe, too, are much lower
than they were a few months ago, being realty nine or
ten per cent, below par, not from tlie. successful in-
dustry of the American people, but in the want of it, and
the severity of the demand for money, not for new

enterprises, but to fulfil old engagements hence there

is a depreciation of the value of property, and a state of
embarrassment, which causes some men (though not yet
consenting to make paper a "legal tender") to be nearly
prepared, in the desperation of circumstances, to desire
a suspension of specie payments by the banks!* This is
a fearful state of things, but not the most fearful that
others apprehend will, or may, ensue before the close of
tlie present year if present projects are persevered in.

What we said in 1818 we say still. We still fear the
command
polisms.

polism but failed; and a reformation was effected.
Since then all has been peace and quietness, and the cur-
rency remained as steady as it was possible to keep it
for, on account of high or low prices of commodities, of
excessive importations, and, for many other reasons,
there must needs be occasional contractions and expan-
sions; and, perhaps, no better evidence can be offered of
the good conduct of the bank than the good will of nearly-
all the local institutions, though rivals in the business of
money lending. Yet the bank had the "command of mo-
ney" a dangerous command, which we would not con-
tinue, nor is it probable that the batik itself wishes it, to
the extent given in the present charter. But what is the
new "command of money" doing' The power which
laid dormant in the directors of tlie bank, has been grasped
and used by the president, "on his own responsibility,"
and the effect is the misery of which the people now so
generally complain, and the losses which they are daily
sustaining. The price, as above stated, of necessaries
has suddenly fallen from 20 to 25 per cent, and many
hundred persons who were solvent, and, indeed, some of
them rich, at this time last year, have become bankrupts,
in a presidential exertion in the "command of money."
The power to do this is that which was and ought to be
feared in the bank; but is not the less grievous when ex-
ercised by "the government." T/te principle is the same
the effect the same. And a retracing of false steps, as
to the "command of money," is just as necessary now
by the president, in our opinion, as it was by the bank in
1818. The withdrawal of the public deposites, with re-

of money as the most dangerous of all
The bank, as we believed, attempted thii

des-
is des-

c ep

spect to their amount, is a matter of small consideration.
The bank has made many times more heavy payments,
on account of the United Slates, in the same |>eriod of
lime, and without any material derangement of business,
unless for a short season; but it is the general Mat 61
confidence thereby produced, and the absolute necessity
cast upon the bank to preserve itself against the "com-
mand of money" in the hands of "the government,"
which forbids its heretofore confident operations, and
keeps the local banks, also, continually on the "look-out
for squalls!" Had the bank been permitted quietly to

tain the favor of the government in a renewal of its
charter, would not have apprehended the hostility of "the
^overiuntnl" in measures adopted to wind up its affairs,
ll is the abominable of this business, that transient political
barty has entered into the consideration of matters so im-
portant as the currency of the country.

We have seen accounts since our last publication, of,
we think, about one hundred meetings of the people for
and against a restoration of the deposites! Most of them
will, probably, be briefly noticed in our sketches of the
proceedings of congress, and that is all that we can do
with them.

It may be mentioned, however, that there has been one
great meeting at Albany, at which, it is said, that 3,000
persons were present, against restoring the deposites
and about 3,000 signed a call for a meeting to adopt
resolutions in favor of restoring the deposites. [This
meeting has been held, and said to have been attended by
from 4 to 6,000 persons.]

Monday last was appointed for a meeting of the stock-
holders of the Girard bank, of Philadelphia, for the pur-
pose of considering the propriety of declining to receive
the public deposites. This matter caused a mighty ex-
citement in that city, an immense crowd filled the streets,
and the rooms and passages of the bank were crammed
with persons, and great confusion ensued; for it was ren-
dered impossible, by the press, for the stockholders them-
selves to attend to the business about which they had as-
sembled. It appears, however, that each party to the
subject passed a set of resolutions and that each claims
the majority! We gather from the proceedings, how-
ever, that means have been taken, (by the party in favor
of giving up the deposites), to ascertain with whom the
majority rests, by receiving the signatures of the stock-
holders.

There was to have been a general meeting at Phila-
delphia, on Thursday afternoon last, of those opposed to

he removal of the public deposites, at which the differ-
ent classes of persons and trades, were to appear with

heir badges and banners and the papers have been fill-
ed with notices of the preparations making or made for

.his assembly. It is probable that we may be enabled to
add a few lines, if the mail arrives in season.

The Delaware committee made a report of their pro-
ceedings, with an account of their interview with the
president, &cc. to a meeting of the people of New Castle
iouuty, on Saturday last.

Sales of 170 shares of U. S. bank stock, at New York
stock exchange on Tuesday last, 105@105^.

There are many rumors as to the substance of the mes-
sage of the president on a renomination to the senate
of certain gentlemen for directors of the bank. It is said
to contain a declaration that he will name no others
and added, that an appeal from the senate to the people
will or may be made. We hope this is a mistake. It
relates to a matter in which the senate has a perfectly
concurrent right and power with the president standing,
indeed, in a more lofty position than the executive itself.
The nominations of the president generally are, as they
ought to be, treated with the greatest respect; but so
should also the disapprovals of the senate. In such things
it is not easy to believe that the latter has acted on what
may be called party grounds. Fora striking example,
Mr. Henshaiu, the collector at Boston, a gentleman re-
markable for his party zeal, but who is reported an ex-
cellent officer, received every vote of the senate on his
nomination for reappointment. A majority of the senate
believes that the late "government directors" of the bank
are enemies of the bank committed, in fact, to carry on
a war against an institution in which seven millions of

die a natural death, it is our serious belief that not a
tithe of the present evils, or those which are expected,
would have ensued; for the bank, though not able to ob-

*Thi, indeed, lias keen broadly thrown out, as to the *afriy
fund banks of New York and tbe authority of the legislature
invoked to Biulain the proceeding, "to uphold the president and
truth the monitor'."

the money of the United States are invested and the
fitness of the gentlemen, surely, the senate may and
should be careful to ascertain. Mr. Suyard, though
as decided a friend of the administration as either of those
renominated, was promptly approved by the senate; and
so would others, we presume, if well known as opposed
to a renewal of the charter of the bank, but untrammelled
by former proceedings.

NILES' REGISTER MARCH 22, 1834 CONGRESS.

The legislatures of Maryland, VirginiumA Ohio, have
recently adjourned lUe house of delegates, of the for-

without opposition. The charier, or town elections, in JV*.
York are contesting with unusual activity. The array of
the contending parties in Virginia is more resolute than
it has been for many years, each party seems sanguine of
success, and both have addressed the people at much
length. I I

_ to Monday.

The "National Intelligencer" of Thursday last con- March \1. The .nee president submitted certain resolution.

Mr. Poindexter reported a bill j.r> -crilnu^ the manner and
time ill' advertising Hie sale* of tlie public lauds; which wan
read and ordered to a second reading.

Mr. Poindexter gave notice that he would, to morrow, auk
leave to introduce a resolution authoring the committee on
public lands to employ a clerk to take down the testimony of
witnesses summoned in appear before xaid committee, touch-
ing the alleged frauds in the sales of public lands.

The senate then resumed the consideiulion of tlie gperial
order of the day, being the seeietury of the treasury's reason*,
&c. for the removal of the dtpoites; when

Mr. Tallmadge resumed his speech, but before he concluded,
e gave way to a motion to adjourn and the senate ailjourned

in reply;

rial of Worcester county, signed 8y 6,207 of his fellow I part of the people of his state, he spoke in terms of lofty praise

_ . _ny difference ot opi;

linson's, in the senate, introductory to a memorial ot the them and himself.

people of Bridgeport, Con. signed by 380 legal voters of Tlie chair communicated a paper containing the proceedings

that town, which contains but a few more than 400, in all. antl resolutions of a meeting of citizens of York county, Pmn-

In ordinary times, all of these speeches would have s ^ an ' :l ' frl ?"' ls , of ll "; ^''""'strmion, in favor of the removt

J , . .' . T1 ,, ot the deposites from the bank ot the united slates, and against

been registered but they cannot now be, by us Mr. Polk tne rechl | rter of , llal itl , litiuiori; ahd> it , invil , B bce \ t rea ,i_

undertook to lecture Mr. Jidams because ot the freedom Mr. Wilkins moved that it be referred to the committee oh
of his remarks when commenting upon the resolves of finance and printed.

Massachusetts, which produced from the latter the fol- (J^-This matter produced a debate which lasted all day irt

lowing very severe remarks and quotation: which a majority of the senate took part. We caniiot do mine

After Mr. P. had concluded I l ' uin briery notice its cause, and shew a few of the principal

shall nerer be disposed to interfere with any member following extract "from what it contains concerning one of the
who shall rise on this floor and pronounce a panegyric | One word in conclusion: Daniel Webster, how a senator

upon the chief magistrate.

"No! LET the candied tongue lick absurd pomp,
And crook tlie pregnant hinges of the knee,
Where TUUIFT may follow fawning!"

and a champion of the bank was, at its creation, a member of
the house of representatives. Then the bank was not his client)
and he was opposed. to it. His unbiassed opinion, as a repre-
sentative of the people, was in direct opposition to \vhai rie nb*
holds; but cow he is 'concerned for the bank,' (in legal phraseo-
logy), and no doubt finds it a good fat client, as it has already
J. W. Bouldin has been elected (o congress from the I disposed of more than fifty thousand dollars in the shape of fees;
Charlotte district, Va. as the successor of his late brother ' 1816 > lle was alarmed at the dangerous powers such an rri-

seat. This is the third election, held in that district for the world abroad, and that, in the present stale of the worldj
the same session of congress. J. \V. B. is friendly to the there could be no other currency.'

administration, and against the bank. Before presenting the paper, the vice president directed the

_ attention of Mr. Wilkins to the preceding and other objection-

WP havp a list nf the TTnitpil Vlnte* oiKsrnm IIOIKSP nfli- able P :lssa s es ) "n' 1 the latter was ready to take the responsibili-
VXT v i ' U r" eU **** Ft ? ' ty of striking th< in out, to which also Mr. McKean, with indif-

cers at New York, and ot the corporation officers of that femice as to tne subject, asscnted-and they were so marked
city, with the amount ot the compensation received by as not to be read by the secretary to the senate. Aftrrthe read-
each person. The number of tlie first is 323, the amount ing, Mr. Webster rose and stated that he had been advised of the
of their compensation 340,000 dollars! The number of character of these proceeding?, which he stated, on ihe ihibr-
the second is 171, and, including the watchmen, 719, and m!llio " . f I J , er * " ? of . lhe 1 1 li 1 - lle ^ t respectability, some of whom
. .- ., . . a ,,, ,,_ , ,, he named, tmn boon issued by Ihe minority of the meeting held

the amount ot their compensation 2*8,337 dollars toge- jn York , a ' nd he offeree! a protest against them winch had" been
ther 1,0*2 persons, and 588,337 dollars; and the corpora- sent to him; he also read a l.-tter from York which concluded
tion officers, besides, disburse very large sums, and have with saying "there are enough administration men woo iiav
many hundred persons in constant employment. When changed to revolutionize tins state if they u-ill stay cftnngcd."
we get a table also of the State and other officers of the After the names attached to the resolutions had been read,
United States in that city, we may present a view of the Mr - Proton asked "how came this paper before the senat. ?>
n/hnl*. tno-pthpn Tlle vil>e president answt red that he had received it in a letter

1 " addressed to himself, which was read; and in explanation, the

'""""' I vice president stated the facts as to the suppression of the ex-

We are not "panic makers" but duty requires us to ceptionable paragraphs, as miefly noticed above. Mr. Preston
say, there are strong reports that two of the deposite then asked Did the chair mean id state that UIH obliteration
banks in the south had stopped payment in one of which took l' lilcc aftfir the paper was in the possession of the senate,
"the government" had about a million of dollars. * nd TO* f" ?'. le wilh , th . e knowledge of the vibe present,*

To which the chair assented.

~* After some further remarks of Mr. Webster, in which he said

TWENTY-TlllRD CONGRESS FIRST SESSION. that he had felt it his duty to notice this "miserable Maieinent,"

SENATE. though for himself he would rather have permitted Mich idle

March 14. Mr. Wright presented the proceedings of a meet- and ridiculous scandal to have passed unnoticed by him

ing of the inhabitants of the town of Brooklyn, N. Y. and also Mr. Preston rose, and warmly denied the right of any person

a memorial on the same subject from the same town, approving to alter or mutilate a petition the right to petition being a sa-

the removal of the deposites, and pronouncing the chartering of cred one and he protested against the alteration made after

a national bank unconstitutional, N.C. this paper was In the custody of an orlirer of that house. Mr.

Mr. Prentiss presented the proceedings and memorial of a Wilkins explained Ihe part that he had taken in this maltfr. It

convention of delegates from the several towns and counties of I was obvious, he said, on Ihe face of the fact, that Ihe striking

the state of Vermont, disapproving the removal of the public out matter which tvas individually offensive to a member of the

deposiles and praying a restoration thereof to the bank of the senate, could not have proceeded from any improper motive}

United States. and it did not . i:hangt>, in any es.-entinl point, wti;it the people

Mr. M^Ke.in presented the proceedings of a large meeting of York had presented: and hf added that there was ahothef

held ia the city and county of Pbiladelpbia, approving the ac- paragraph in the proceedings which ought not to be there. H6

tion of the executive government in reference to the removal of then spoke of the protest against the proceedings of the meet-

the public deposites. [The matters stated in the three preced- ing, and .made light of it, and concluded by saying "AS

ing items, were read, and referred and ordered to be printed.] I to the erasure, it might have been unjustifiable, as he bad bi:-'

NILES' REGISTER MARCH 22, 1834 CONGRESS,

fore said, but it was made entirely out of delicacy to the mem
her assailed. If this motive was not sufficient to justify th
act, it ought, at least, to excuse it."

Mr. Preston replied, and insisted that the mutilation of tl
paper had changed its character and that it was wrong, b
cause that paper was in the possession of an officer ofthe houi
individual senators might do what an officer should not d
&c. Mr. Clay followed, and said that the conclusion of Mr. 1
was a just one il was evidenl lhat if a right existed in an of
cer to make an erasure, there was also a right of insertion; ai
he asserted that the paper had lost its "identity" it was not '
genuine document." Atler he had concluded, the vice pres
dent stated the question, "shall the petition be received?" ai
a long debate followed, the various questions raised being di
cussed by Messrs. Kane, King, of Geo., Preston, Wright, Leig]
Bibb, Poindexter, Manguin, McKean, Black, Calhoun, Claytoi
Webster, Forsylh, Brown, Sprague and the chair. The dcba
lasted until hall" past 5 o'clock, and was listened to by one i
the most closely packed auditories that ever filled the g:\llern
ofthe senate. Finally the senate refused to receive the con
muiiication* presented by the chair, by the following vote:

YEAS Messrs. Benton. Brown, Forsyth, Grnndy, Hemlrick
Hill, Kane. King, of Ala., King, of Geo., Linn, McKean, Mai
gum, Morris, Robinson, Shepley, Tallmadge, Tipton, White
Wilkins, Wright 20.

NAYS Messrs. Bibb. Black, Calhoun, Clay, Clayton, Swing
Frelinghuysen, Kent, Leigh, Moore, N.iudain, Poindexter, Po
ter, Preston, Robliins, Silsbee, Smith, Southard, Sprague, Swil
Tomlinson, Waggaman, Webster 24.
The senate then, soon after adjourned.
March 18. After other proceedings Mr. Webster rose nn
presented a protest against the reeent measures ofthe executiv
in the removal of the deposites, &c. signed by 6,841 voters an
tax payers of Boston, which had just been brought to these;
ofthe national government by a most respectable committee
Mr. W. proceeded, at length, to shew the character ofthe sign
ers, and referred, with much force and beauty, to limes Ion
past, and he commented on the proceedings ofthe executive a
much length and with great freedom. We can only make root
for the following paragraphs:

"They thought that the effect ofthe measure was to produce
to augment, the rapidity of certain tendencies which they be
lieved had attended the government for some years past, an
that was the tendenr-y to increase power and influence in th
executive hands. They were of opinion, that the substraclioi
of the public revenue from a custody where it was under th
eye of congress to a custody where il was only under Ihe eye
ofthe secretary ofthe treasury, was one great proof of the ex
islence of that tendency to increase power. Were they no
right? Where were the public Ireasures of Ihe United Slates
No man in that senate knew; no man in the other house knew
The last time that the senate had heard of" them they were de
posited in certain banks not created or fixed by its will. Tliej
might be changed, for aught the senate know, within the las
half hour, to some other place, which it knew not. What war.
(said Mr. W.) the condition of the treasure six months ago;
Was it situated as it is now? Did not every member know
where the money was then? and had not congress an account
of it, and could see that it was all there? Had congress any
such right now? Had that house, or the other, the) power to go
to the bank ofthe Metropolis, or to the Manhattan bank, in or-
der to see that the money deposited in those places was safe?
The executive had now the preservation ofthe public treasure,
and congress had no control over it.

"It was a fact not to be denied, that every dollar ofthe pub-
lic money ordinarily eight or ten millions between the mo-
ment of its receipt at the custom house and the land offices
from the moment of its appropriation under the authority ol
Jaw, was under the entire, exclusive government of the secre-
tary of the treasury congress knew nol where congress de-
clared not how."

He was followed by Mr. Silsbee who made a few remarks on
the competency of the signers lo form correct opinions on the
subjects presented by them; and Mr. S/>rgt/e, more ill length,
bore a like testimony, and with reference to Boston, said

"II was from the same source; it was under the same roof, a?
has been so well remarked by the gentleman from Massachu-
setts, that memorials, protests and petitions, were transmitted
to the British parliament. Those memorials, proieM.-* and peti-
tions, denounced, at thai lime, an act of political poiver, s> i/.ing
their money without the consent of either [hem-elves or their
representatives. The descendants of those people come now,
and protest against an act of political power, also seizing their
money without their consent, or the consent of their represen-
tatives. The memorials, protests and petitions .sent to the Bri
tish parliament were contemned. He trusted tlt.it a different
fate awaited those which were now sent to conuress. The
memorialists had come hither because they thought that they
lived, or ought to live, under a government of laws. They have
come here with faith in law, and in the national legislature, and
ask for relief and for redress.

"It has been remarked, that they did not go to the executive
mansion, they did not pass by the halls of congress to lay their
complaints at the feet ofthe executive. They believed that the
executive had no right to interfere: and the manner in which

ing

So called in the motion -as being the proceedings of a meet-

the other committees who had come hither, were treated* &y flrtf
chief magistrate, had prevented them from exposing themselres
to similar treatment. Their behaviour to the chief magistral*
in the city of Boston, shows that they know Jw>w to respect tn
official dignitaries ofthe county: their refusal now to go to him?
shows that they know how to respecl themselves."

The memorial was then read; and referred to the committee
on finance, and ordered to be printed.

Mr. Wtbster then rose to introduce the bill, of which he had
given notice, and which is as follows:
A bill to continue for the term of six years, the act entitled "an

act to incorporate the subscribers to the bank of Mie United

States."

He it enacted, Sfc. That the act entitled "an act to incorporate
the subscribers to the bank of the United States," approved on
the tenth day of April, in the year one thousand eight hundred
and sixteen, shall continue in full force and effect for Ihe tertu
of six years, fiom and after the period therein limited for its ex-
piration, to wit: the third day of March, in the year one thorr-
saiid eight hundred and thirty-six; and that all the rights, iih-
terests, properties, powers and privileges secured by the same
aet, with all the rules, conditions, restrictions and duties therein
pi escribed and imposed, be and remain alter Ihe said third day
of March, in the year one thousand eight hundred and thirty-
six, during the said six ye;us, as if Ihe said limitation in the
said act, had riot been made; provided, nevertheless, that so
much of the. said act as declares that no other bank shall be
established by any fature law of the United States, during the
continuance of the corporation thereby created, shall not be
continued by this act; but that it shall be lawful for congress,
whenever it shall see fil, to establish any other bank, to come
into existence and operation at any time, on or after the fourth
day of March, one thousand eight hundred and thirty-six.

Sec. 2. And. be it further enacted, That all the public mo-
neys accruing to the United States, and becoming payable from
and after the passage of this act, in places where Ihe said bank,
or any of its offices, is established, shall be deposited hi the
bank ofthe United States and its offices as heretofore; provided,
That, at any time after this act shall have been accepted, con-
gress may, by law or joint resolution, cause such moneys to be
withdrawn and removed to any other custody or place of de-
posites.

Sec. 3. And be it farther enacted, That, in consideration of
the benefits and privileges conferred by this act, the said bank
shall pay to the United States the annuity or yearly sum of two
litindrcd thousand dollars, which said sum shall tin paid, by the
said bank, on the 4lh day of March, in each and every year,
during the said term of six years.

Sec. 4. And be it further enacted, Thnt congress may provide
->y law, that the said bank shall be restrained at any time after
the third day of March, in the year one thousand eight hundred
and ihirty-six, from making, issuing or keeping in circulation,
any notes or bills of said bank, or any of its offices, of a less
sum or denomination than twenty dollars.

Sec. 5. And, be it further enacted, That, any time or times
ivithin the last three years ofthe existence of said corporation,
is continued by this act, it shall i>e lawful for the president and
lirectors to divide among Ihe several slockholders thereof, such
lortions ofthe capital stock ofthe said corporation as they may
lave withdrawn from active use, and may judge proper so to
livide.

See. 6. And, be it further enacted, That so much of any act
ir acts of congress, heretofore passed and now in force, sup-
ilementary to, or in any wise connected with, the said original
ct of incorporalion, approved on the tenth day of April, in the
ear one thousand eight hundred and sixteen, as is not incon-
istent with this act, shall be continued in full force and effect
uring the said six years, after the third day of March, in the
ear one thousand eight hundred and thirty six.
Sec. 7. And, be it further enacted, That it shall be the duty
f the president and directors of Ihe said bank, on or before
IP. first day of the next session of congress, to signify to the
resident of the United States their acceptance, on behalf of
!ie bank of the United States, of the Irrms and conditions in
lis act contained, and if they shall fail to do so on or before
ic day above mentioned, then this acl shall cease lo be in
jrce.

Previous to the introduction of the bill, Mr. Webster address-
d the senate at some length, expounding Ihe situation of the
ountry, the opinions of the committee, and his own views, in
ic presentation of this measure.

Mr. LeijA then gave the reasons which would compel him to
ote against the prolongation ofthe charter of this bank, or the
larler of a now one; at the same time he threw out the idea
hat a condition of things might be developed which would
tanan both ihe views of the state of Virginia and his own, on
ie subject ofthe bnnk.

On motion of Mr. Wright, who then expressed a desire to
ve some views, the senate adjourned.

March 19. Mr. Tomlinson rose and presented the memorial
'Hie merchant.*, manufacturers and other citizens ofthe town
"Bridgeport, iii Connecticut, signed by 380 voters, against the
inoval of the deposites. Mr. T. stated that there were but
)() legal voters residing in the town; and entered into a very
K:restiii2 history of the place, and testified in the strongest
rms to the high character of the memorialists.
Mr. McKean presented the proceedings and memorial of 700
binet makers piano foite makers and olhcr mechanics ef the

NILES' REGISTER MARCH 22, 1834 CONGRESS.

city of Philadelphia, also opposed to the removal of the de-
posiles.

Mr. Mbb presented similar proceedings of a meeting of the
Citizens ol Madison comity, Kentucky.

Mr. Waggaman presented the resolutions and memorial of a
meeting ol the merchants of New Orleans, al.so opposed to the
removal of the deposites.

Mr. Alangam presented a memorial signed by 250 citizens of
Plymouth, North Carolina, of a similar character to the above;
he stated that the voters of the place were about 450.

All the above memorials, resolutions, &c. were read, referred
to the committee on finance and ordered to be printed.

Mr. Preston reported the bill to increase and regulate the pay
of surgeons and assistant surgeons in the army of the U. State*,
without amendment.

On motion of Mr. Webster, the bill from the house of repre-
sentatives making appropriations for the support of the army of
the U. Slates, for the year 1834, was taken up, twice read by
unanimous consent, and referred to the committee on finance.

Mr. A'ing reported a bill making appropriations for the repairs
of the military road to Mars Hill, in Maine, which was read and
ordered to a second reading.

The chair then announced the special order of the day, being
the unfinished business of yesterday, the bill to continue for a
limited time the charter of the bunk of the United Stales.

Mr. Webster said, as the gentleman from New York. (Mr.
Wright) had expressed a wish to say something on this subject,
and as the senator from S. Carolina also wished to say some-
thing on it, he would move to lay the bill on the table, and thus
give the other senator from New York (Mr. Tullmadge) an op-
portunity of continuing his remarks on the other speeial order,
the removal of the deposiles. He would make this motion now,
at the same time giving notice that he would call up the bill at
an early hour to morrow.

The motion was then agreed to.

The chair then announced the second special order, being
the report of the committ.ee on finance, and the resolutions of-
fered by Mr. Clay; when

Mr. Tallmage resumed his observations commenced last
week, in defence of the removal of the deposites, and in vindi-
cation of the power exercised by the executive, and continued
until near 5 o'clock, when he concluded,

And, on motion of Mr. Clay, the senate adjourned.

MarchZQ. The chair communicated a report from the war
department, transmitting copies of the Army Register for 1834.

Various memorials, petitions and reports, were presented and
made, on private claims, and referred and disposed of.

On motion of Mr. Webster the senate resumed the considera-
tion of his motion for leave to introduce a bill to continue, for
a limited lime, the charter of the bunk of the United States;
when

Mr. Wright, Mr. Webster and Mr. Leigh successively address-
ed the senate on the subject, and, on motion of Mr. Cal/ioun,
the senate adjourned.

HOUSE OF REPRESENTATIVES.

Friday, March 14. Ntaily the whole of this day was given
Up to the consideration of private or local business, and a large
number of bills for the relief of individuals were considered, and
ordered to be engrossed or passed.

The consideration of the resolution of Mr. Mardis, on the
subject of ihe deposites, being the unfinished business of the
morning

Mr. Burges resumed the course of his remarks in opposition
to Ihn resolution, and continued to speak for some time, though
in a state of indisposition, when he save way for a motion to
postpone the further consideration of the resolution to to-mor-
row.

The army appropriation bill wa< then considered, amended
and ordered to be engrossed f-.it a third reading when the
house adjourned.

Saturday, March 15. Tbe resolution of Mr. Mardis respect-
ing the public deposites, vas taken up.

The speaker informed the house that he had received a letter
from Mr. Buries, stating that he was prevented by indisposition
from attending the luiuse to day, and requesting that the const
deration on the resolution be postponed till Monday.

On molion of Mr. WIMlesey, of Ohio, the further considera
lion of the resolution was postponed till Monday.

The army appropriation bill was read a third time and passed.

The house proceeded to consider a joint resolution for the
purchase of certain books, for the use of the new members, Ihe
question being on the amendment reported from the committee
of the whole, for the purchase of additional copies of Gales &
Seaton's debates, which amendment liein" agreed to, the reso-
lution, as amended, after an.animated debate, which lasted till
near 4 o'clock, in which several gentlemen took part, was
agreed lo, and the house adjourned.

Monday, March 17. The consideration of the Virginia reso-
lutions on the removal of the deposites beins; the unfinished bu-
siness of the morning, Mr. Pinckney, of S. C. who was entitled
to the floor, at the request of Mr. Mams, of Mass, waived his
right, in order to allow the presentation of memorials.

Memorials favorable to the restoralion of the deposites were
then presented by the following persons:

By Mr. Jarvis, of Maine, from inhabitants of Eastport; by
Mr. Evans, from inhabitants of Lubec, Maine; by Mr. Gorkam,
frosi nearly 7,000 citizens of Boston, all of them voters in that

city; by Mr. Lincoln, from 6,207 citizens of Worcester, Mass.;
by Mr. Everett, of Vermont, from delegates from all the towns
of Wiridham county in that state; and by Mr. f'illmore, from
729 citizens of Bulfalo, New York, all praying for a restoration
ol the deposiles, which were severally read, ordered to be print-
ed, and referred to the committee of ways and means. Mr.
Jldams presented the resolutions of the Massachusetts legisla-
ture, also disapproving of the removal of the deposites, and
applying to congress lor relief. On presenting them Mr. A.
went very much at length into an explanation and commentary
on the several resolutions, which he read in succession, and
moved that they be referred to a select committee, and that hia
motion and the resolutions, for the present, he on the table.
He withdrew his last motion al the request ol

Mr. Polk, who replied to Mr. A. in defence of the adminis-
tration. Mr. A. made a brief response.

After several other petititions on various subjects had been
presented and disposed of, the house adjourned.

Tuesday, March 18. Mr. Binney reported a bill to remit the
duty on locomotive engines heretofore reported, and to allow
their future importation duty free.

Mr. Leavitt reported a bill appropriating 150,000 acres of land,
in addition to Ihe quantity heretofore appropriated, for the a-
lislaciion of bounly land warrants.

Mr. R. M. Johnson reported a bill for the erection of an ar-
mory. on the western waters.
Tbe above bills were twice read and committed.
A message was received from the president of the U. States,
suggesting the expediency of extending the term allowed for the
settlement of the claims under the late treaty with Naples;
which was referred to the committee on foreign relations.

Mr. Pinckney obtained leave, and submitted the following re-
solution:

Resolved, That the documents communicated by the presi-
dent of the United States, in relation to the trade between the
United States and the islands ot'Cuba arid Porto Rico, be refer-
red to the committee on commerce; and that said committee be
instructed to inquire into the discriminating duties referred to
by the president in his message, and into lt~,e expediency of
adopting countervailing measures, for vhe protection of Ameri-
can merchants and ship owners. Agreed to.

The house then proceeded to the consideration of the resolu-
tion of Mr. Mardis, of Alabama; when

Mr. Surges look the floor and continued his speech in oppo-
sition thereto, until one o'clock, when he suspended his re-
marks; and the speaker announced the special order of the day,
being the resolutions reported by the committee of ways and
means on the removal of the deposites, and the house proceed-
ed to consider the same; when

Mr. Wilde said he would now proceed to offer some observa-
tions to the house, unless the gentleman from Tennessee desir-
ed to speak.

Mr. Polkhavinn signified that he did not wish lo speak,
Mr. Wilde look the floor, and offered the following resolution
as a substitute for the first resolution reported from the com-
mittee of ways and means:

Resolved, That the reasons submitted by the secretary of the
treasury for removing the pi>'olic deposites are insufficient and
unsatisfactory.

Mr. Wilde, after speaking nearly Ihree hours, yielded the
floor, without concluding, to a molion lo adjourn; when, on
motion of Mr. Williams, the house adjourned.

Wednesday, March 19. Mr. Elhha Whittlesey, from the com-
mittee ofcla'ims, reported the following resolution, viz:

Resolved, That the committee of claims be instructed to in-
quire into the expediency of providing by law for referring all
claims for buildiiig? burnt and deslroyed by the enemy during
the late war, because they were in the military occupation of
the United States, by an order of an officer, or agent of the
United Stales, as places of deposile, or as barracks, to the
third auditor of the treasury department, on principles that
have been heretofore prescribed in the settlement of such
claims, and thai they further inquire into Ihe expediency of
providing by law for the settlement of all claims arising
from the loss of property in the military service of the United
Stales, by contract or employment, and for horses lost during
the late war also, during Ihe war with the Seminole Indians;
and the late war with the Indians commanded by Black Hawk,
on such principles as have heretofore been prescribed in such
cases.

Mr. WhUtlesey explained the reason why the commissioner of
claims had not acted on these cases, which was understood to
be, a limitation as to time in the their presentation, and con-
tended that no such limitation should be interposed. The re-
solution was agreed to.

The house then proceeded to the consideration of Mr. Mardis'
resolution on the deposites, when,

Mr. Buroes resumed the floor, and continued his speech in
Opposition to the resolution, until 1 o'clock, when they were
again cut short by Ihe expiration of the morning hour.

The house then went into the consideration of the report of
the committee of ways and means on the removal of Ihe de-
posites, when

Mr. Wilde again took the floor, and concluded a very animat-
ed and sarcastic speech, in support of the amendment he had
offered declaring the reasons of the secretary insufficient and
unsatisfactory. He closed at half past three o'clock, when, OB
motion of Mr. Pinckney the house adjourned.

54 NILES' REGISTER MARCH 22, 1834 BANK OF THE UNITED STATES.

Thursday, March 20. Mr. Clay reported a hill authorising the
jEonstruelioij of rail road* and can-alt, through lands of the Unit
ed States.

After various other business of a private or local character,
Ihe house took up tin; unfinished business of the morning,
which was the consideration of Mr. Mardis' resolution on lh
deposites, when

Mr. Surges once more addressed the house in opposition to
the resolution, and held (he tlnnr until the expiration of the
morning hour, w'iien his remarks were suspended.

The house tin n proceeded at one o'clock, to the orders of
Ihe day, viz: the consideration of the report of the committee
'of ways and mean-; wbeu

Mr. Pinckney, of South Carolina, rose and addressed the
house at large, in opposition to the resolutions with which the
rjx>rl concludes, and which it recommends for adoption.

BRITISH KING'S SPEECH.

House of lords, Tuesday February 4.

His majesty this day opened the sessions of parliament in per-
son.

At half past 1, the lord chancellor took his seat on the wool-
lark.

His majesty, attended by the usual ministers of state, entered
the house at a quarter after 2 o'clock. His majesty, we are
Jjappy to say looked very well. He appeared to be in excellent
health.

The pommons having been summoned, ttbout 200 of them,
headed by the speaker, immediately presented themselves at
the bar, when his majesty proceeded to read, in a distinct and
audible voice, the following gracious speech:
My lords and gentlemen:

"In calling you again together for the discharge of your high
dti'iex, 1 rely with entire confidence on your zeal arid diligence,
on y;"r sincere devotion to the public interests, and on your
firmness j^i supporting on its ancient foundations, and in the
Just distribution of its powers, the established constitution of the
state.

"These qualities eminently distinguished your labors during
the last session, in which more numerous and more important
questions were brought under the consideration of parliament
.lhan during any former period of a similar duration.

"Of the measures which have in consequence received the
c-Tirtion of the legislature, one of the most difficult and import-
ant was the hill for the abolition of slavery. Tim manner in
which that beneficent measure has been received throughout
.he Bnti?li colonies, and the progress already made in carrying
ji in,;o execution by the legislature of the island of Jamaica, af-
ford just Grounds for anticipating the happiest results.

."JIhriy other important subjects will still call for your mos
attentive consideration. The reports which I will order to he
laid before yon from the commissions appointed to inquire into
the state of the municipal corporations, into the administration
and effects of the poor laws, and into ecclesiastical revenues
;nd patronage in England and Wales, cannot fail to afford you
jnudi .useful information, by which you will be enabled to
judge of the nature and extent of any existing defects an
abuses, and in what manner the necessary corrections may, in
due season, be safely and beneficially applied.

"It has beep the constant aim of my policy to secure to m;
people the uninterrupted enjoyment of the blessings of peace. l'
.this I have been much assisted by the good understanding whic
has been so happily established between my government an
that of France; and the assurance which I receive of the friend
ly disposition of the other powers of ti:; continent give me con
fidence in vh'e continued success of my endeavors.
' "I have, however, to regret that a final settlement betwee
Holland and Belgium has not yet been effected, nnd that th
civil war in Portugal still continues. You may be assured that
shall he careful and anxious to av:iil myself of any opportunil.
which may afford me the means of assisting the establishment o
a state of security and peace in countries the interest of whic
are so iniirnalely connected with those of my dominions.

"Upon the Heath of the late king of Spain I did not hesitate t
recognize the accession of his infant daughter; and I shall watc
with the greatest solicitude Ihe progress of events which ma
affect a government, the peaceable settlement of which is o
the first importance to this country, as well as to the genera
tratiqiiility of Europe.

"The peace of Turkey since the settlement that wn.-s mad
with Mehemet Ali, has not been interrupted; and will not,
trust, he threatened with any new danger. It will be my ob
ject t" prevent any change in the relations of that empire wit
other powers, which might affect ;ts future stability and indi
pendenre..
Gentlemen of the house of commons:

I have directed the estimates for the ensuing year to be la
before you

Thfv have been framed with a view to the strictest econom
and to such reduction as may not be injurious to the public se
vicr.

I am confident that f may rely on your enlightened patrio
ism, and on llir cheerful acquiescence of my people for xnpph
ing the menn* which may he. required to uphold the honor'
Biv crown and the imprest of my dominions.

The account- wliieh will he h'nd before you ofthfi state of tl
revenue, as compared with the expenditure, will be found rno
satisfactory.

i/ lords nnd gentlemen:

I have to lament the continuance of distress amongst the
oprietors and occupiers of land, though in other respects the
ate of the country, both as regards its internal traiiquility, and
< commerce and manufactures, affords the most encouraging
ospects of progressive improvement.

'The acts passed in this last session, for carrying into effect
arious salutary and remedial measures in Ireland, are now in
leranon. and further improvements may be expected to result
om the commissions which have been issued for ether import-
nt objects of inquiry.

"I recommend to you the early consideration of such a final
djuslment of the tithes in that part of the United Kingdom as
lay extinguish all just causes of complaint, without injury to
IB rights and property of any class of my subjects; or to any
nstilulion in church or state.

"The public tranquillity has been generally observed, and the
ate of all the provinces of Ireland present, upon the whole, a
mch more favorable appearance lhan at any period during the
ast year. But I have seen with feelings of deep regret and
ust indignation, the countenance of attempts to excite the peo-
le of that country to demand a repeal of the legislative union,
'his bond of our national strength and safety, I have already
eclared my fixed and unalterable resolution, under the bless-
ngs of Providence, to maintain inviolate by all the means in
ny power. In support of this determination, I cannot doubt
zealous and effectual co-operation of my parliament and
ny people.

"Te the practices which have been used to produce disaffec-
on to the state, and mutual distrust and animosity between
ie people of the two countries, is chiefly to be attributed to
lie spirit of insubordination, which, though for the present in
great degree controlled by the power of the law, lias been but
oo perceptible in many instances.

"To none more than to the deluded instruments thus perni-
ionsly excited, is the continuance of such a spirit productive
f the most ruinous consequences, and the united and vigorous
xertions of the loyal and well affected in aid of the govern-
lent, are imperiously required to put an end to a system of ex-
ilement and violence, which, while it continues; is destruc-
ive to the peace of society, and if successful, must inevitably
rove fatal to the, power and safety of the United Kingdom."
London, Feb. A. We have received by express the Paris pa-
pers of Sunday, together with letters from Madrid of the 21st
ind 22d ult. The particulars of M. Dulong's funeral, which
ook place on Saturday, occupy a considerable fpace of most
of the Paris papers. It appears that there were 30,000 men un-
der arms, for the purpose of suppressing any movement which
might have threatened an emruie.

THE WEST INDIES.

James McQueen is the name of a well known writer of va-
rious pamphlets and letters in behalf of the West India proprie-
tors, and hostile in the course of the British ministry in relation
to the West India colonies. One of his recent letters, since the
adoption of the emancipation bill, contains a large amount of
statistical information with respect to the population, progress
and production of the islands belonging to the several European
powers. Some of the items are interesting to Americans, and
they are believed to be, in the main, accurate.

The island of Cvta is first noticed. The whole value of the
property in the island, in 1830, is put down at 562,191,730.
The exports of that year were $49,662.000, and the consump-
tion 50,776.200. The total imports in 1829, were $14,300,000.
of which $4.100,000 were received directly from the United
States, and $3,200,000 indirectly. From all' other sources the
imports were $7,000,000. From 1821 to 1830, inclusive, the
United Slates received from Cuba upwards of sixty millions of
dollars in return for exports, chiefly of provisions. The annual
amount of actual produce, bona /Me of the United States, taken
by Cuba, is averaged at $8,000,000.

Porto Rice exported, in 1630, to the value of $3,491,805, and
in 1832, $5,095,996. About one-half of the imports of the island
are received through St. Thomas. One-half of all she exports
is carried directly to Ihe United Plates. Thirty thousand tons
of shipping owned in the United States, nearly one-half of the
shipping of the island, were engaged in the direct trade with
this country, and a large part of the remaining half, engaged in
the trade belween Ihe island and Spain, nlso beloved 10 Ame-
ricans. The revenue of Cuba in 1829 was $9,150',COO, and of
Porto Rico in 1832, $1,000,000.

Hayti presents a miserable account. The year 1826 is Ihe
last for which correct return? have been found, and Mr. Mc-
Queen presents some strong evidences of the decay of the island.
The value of the produce of the French part of the island, in
1791, was upwards of7,000,000 sterling. In 1826 it did not ifx-
ceed 1 ,000,000 for the whole island. In 1789 the trade em-
ployed 1,700 vessels, or 237,800 tons; in 1822 only 947 vessel*, or
162,693 lon of every description and from all 'nations. Two-
thirds of the whole were from the United States. The popula-
tion in 1790 was about 750,000; in 1826 it was a little more than
420,000. [Bolt. dm.

-*--
BAXIC Or TI!F. UNITED STATES.

March Mh. 1834.

At a meeting of the hoard of directors held thin day. Mr. Eyre,
from the committee on the offices, presented the following re-
port, which was read.

NILES' REGISTER MARCH 22, 1834 THE BALTIMORE COMM ITTEE, &c. 55

REPORT.

The committee on the offices having now ascertained by an
experience of several months, the progress of the reductions in
the business of the bank ordered by the board on the 8th of Oc-
tober last, avail themselves of the monthly returns of the bank
and all its offices, made up for the month of March, to present
a statement of those reductions.

The desian of the board in directing them was to protect the
institution, and to provide the means of paying the deposites of
the government, so as to press with as little injury as possible
on Hie community. How far that purpose has been accomplish-
ed, will be seen from the following detailed statement of the
amount of the loans, deposites, specie and circulation of the
bank, from the 1st of October, 1833, to the 1st of March, 1834.
1833. Discounts. Domestic bills. Total.

October 1 42,226,275 42 17,867,927 51 60,094,202 93
November 1 41,062,813 94 16,147,790 44 57,210,604 38
December 1 38,780,567 49 15,672,537 18 54,453,104 67

1834.

January 1 38,609,069 46 16,302,392 24 54,911,461 70
February 1 37,544,252 82 17,098,720 82 54,824,973 64
March 1 37,381,131 86 18,786,698 00 56,167,829 86

1833. Public deposits*. Private deposites. Total.

October 1 9,868,435 58 8,008,862 78 17,877,298 36

November 1 8,232,31118 7,285,04188 15,517,35306

December 1 5,162,26063 6,827,17310 11,989,43373

1834.

January 1 4,230,509 63 6,734,866 06 10,965,375 69

February 1 3,066,561 72 6,715,312 60 9,781,874 32

March 1 2,604,233 62 7,343,129 92 9,947,363 54

1833. Specie. Circulation

October 1 10,663,44151 19,128,18951

November 1 10,342.160 46 18,518,000 57

December 1 9,818,529 25 18,650,912 90

1834.

January 1 10,031,23773 19,208.37990

February 1 10,523,385 69 19,260,472 90

March 1 10,385,430 15 18,523,189 00

From this statement it will be perceived that from the 1st o

October to the 1st of March, the total reduction in the line o

local discounts wag 4,845,143 56

While there hag been an increase in the domestic

bills of 918,770 49

Making the total reduction of loans 3,926,373 07

During the same period the reduction of the public deposites

was 7,264,201 96

And of the private deposites 665,732 86

Making a total reduction of deposites of 7,929,934 82

During the same time the specie of the bank lias diminished

278,002 36

And the circulation of the bank 605,000 5'

The comparison of the two periods will be more obvious fron
the following tabular statement:

Loans. Deposites.

October 1, 1833 60,094,202 93 17,877,298 3i

March 1, 1834 56,157,829 86 9,947,363 5

October 1, 1833
March 1, 1834

3,926,373 07
Circulation.
19,198,189 57
18,523,189 00

7,929,934 8

Specie.
10,663,441 5
10,385,439 1

605,000 57 278,002 3

The general result of the operations of ths bank during th
last five monlhs has been

1st. That the reduction of tho loans has not been, by upward
of four millions of dollars, as great as the reduction of deposites
and

2d. That the withdrawal of nearly eight millions of dollars o
those funds on which the bank had based its accommodation
to the community, has not yet been followed by a reduction o
accommodation equal to one-half the amount of funds with
drawn.

3d. That from the 1st of January to the 1st of March, the in
crease in the line of domestic bills amounted to nearly two mil
lions and a half of dollars.

4th. That during the same period there has been an actua
increase in the total loans of the bank of 1,256,368 dollars 1
cents.

The committee cannot regret the smallness of this reductio
during the last five months, nor even the actual increase of it
loans lince, the 1st of January; because both have arisen fron
the strong desire of the bank to give every relief to the commii
nity consistent with its own safety. But they cannot forbear t
express their deliberate conviction that these reductions ar
much less than are required for its security during the presen
unsettled state of the currency; that it has now become the du
ty of the bank, gently but steadily, to diminish the amount o
the claims upon it by continuing to lessen its business.

Whereupon, on motion of Newkirk, the following resolutio
was unanimously adopted:

Resolved, That as much misapprehension appears to exii
throughout the country in regard to the reduction of the loar
of the bank since the removal of the government depogites, th
foregoing report be published for general information.

Extract from the minutes. 8. JAUDON, eaikitr.

BANK COMMITTEE AND MR. TANEY.
From the Baltimore Republican of March 14.
We copy from the Chronicle of yesterday morning, the fol-
owing card, giving one side of the account of the conversation
etween the committee of the memorialists in favor of Uie bank
ml Mr. Taney.

TO THE PUBLIC.

Our attention having been directed on Monday, the 10th in-
tant, to an editorial article in the Washington Globe of that
orning we, the same day, addressed the annexed note to Mr.
aney, and not having heard from him, it becomes our duty to
n: community, as well as to ourselves, explicitly to repeat,
hat the conversation between Mr. Taney and us, wan correctly
tated in the report of the committee.

WM. CRAWFORD,- jr.
G. BROWN.
J. VV. PATTERSON.
Baltimore, 12</i March, 1834.

Baltimore, 10th March, 1834.

The undersigned, (Mr. Gaithcr being absent) the member* of
.he Baltimore committee, who had the interview with you, and
responsible for that part of the report made at a public meeting
on the 5th inst. having seen by the Globe of this morning, that
he editor of that paper asserts that he has your authority for
saying that that part of the report which refers to our conversa-
tion with you is a misrepresentation, we deem it necessary to
ask of you whether the editor had your authority for his asser-
tion. We are respectfully yours,

WM. CRAWFORD, jr.
GEO. BROWN.
J. W. PATTERSON.

To R. B. Taney. esq. secretary of the treasury, Washington.
It strikes us that the committee were rather hasty in publish-
ing this letter. It was written, it seems, on the 10th instant,
and could not have been received by Mr. Taney before the llth.
Had he been entirely disengaged, he could not have answered
it before the 12lh. But with the multifarious duties he has to
perform, it was unreasonable to suppose that they should he
laid aside to attend immediately to such a matter. And yet,
because the answer was not received by the return mail, they
seem to have taken it for granted that none was to be expected.
It is a trite saying that one story is good until another is told.
And here follows the answer. The public have now the whole
matter before them, and will decide according to the evidence
of the case.

To the editor of the Republican.

March 13, 1834.

SIR I transmit to you for publication a letter which I receiv-
ed the day before yesterday from Mr. Taney. Understanding
yesterday that a portion of the committee that recently visited
Washington, had addressed a note to him in relation to an edi-
torial paragraph which appeared in the Globe, I had determin-
ed not to publish the letter at present; but the card of Messrs.
Crawford. Brown and Patterson, in the Chronicle of this morn-
ing, appears to me to render its publication proper. I therefore
avail myself of the authority which the letter uives. and desire
you to insert it in to-morrow's Republican, with the request
that the editors of other papers who may have published the
card of those gentlemen, will republish from the Republican Mr.
Taney 'a letter. Very respectlully, your obedient servant,

U. S. HEATH.

Washington, March 10, 1834.

Mv DEAR SIR: I have read with much surprise the report
made by the committee to the meeting at Monument .Square,
in the city of Baltimore, on the 5th instant. The report does
me great injustice, and does not present the opinions which I
expressed to the members of the committee with whom I con-
versed.

I must begin by observing that Mr. Birckbead, Mr. Shaw, Mr.
Graham and Mr. Ilowell, whose names are signed to the report
were not present at any part of the conversation, and can have
no personal knowledge of any thing that was said. I did not
see either of them while they were in Washington. Mr. Pat-
terson came in near the close of the interview, and was in the
room but a few minutes.

The only persons who were present throughout the conver-
sa.tion were Messrs. Brown, Crawford and Gaither. My ac-
quaintance with the two latter was a vrry slight one. But cir-
cumstances had often brought Mr. Brown and myself together
while I lived in Baltimore, and we had, for several years past,
been on terms of familiar and friendly acquaintance. He intro-
duced the conversation soon after they came into the room by
giving me to understand that they had called on me n* members
of the committee, and that they wished a free, and friendly con-
versation with me, not only in my official character, hut as a
citizen of Baltimore, and as one who could not he indifferent to
the welfare of a community of which I had so long been a mem-
ber. It never entered my mind that a conversation so invited
by Mr. Brown was designed for publication; much less that de-
tached expressions wore to be selected separating them from
the connecting observations, so as to create an impression en-
tirely different from the one I intended to convey.

The common principles of fair dealing between man and man
would seem to require that when such a design was entertain-
ed, I should have been warned of tlu 1 intention, in order that
others might be present to hear what passed, an well as the per-

56 NfLES' KEG ISTER MARCH 22, 1834 THE BALTIMORE COMMITTEE, &c.

FOHS, who, it now serins, were secretly awaiting some phrase
or expression winch Ua-y uiigiit note down and publish to do
me injury.

The conversation was chiefly carried on between Mr. Brown
and myself. The others occasionally look part in it. He re-
probated the conduct of the liank ot'lhn L'niied States in strong
terms. lie said that it had abused its powers by wilfully op-
pressing the community, and that it ought not to be recharterud
mi any trims. He iidinitu-d that tin; deposits ought not to he
restored, and that the restoration would not relieve the pressure
which he stated to exist. But he and (he other persons present
with him drew a strong picture of ihe distress in Baltimore, Bud
represented that the commercial community there was in dan-
ger of general bankruptcy unless something was done by the go-
vernment to relieve it. His plan of relief was a new bank, and
tie lelt with me a draught of his project. He u rued me to con-
sider it, saying it was iht* plan of one of my friends, in whom
he knew 1 hud much confidence. Bui he did not name him.

In reply to llie.e .-lateim-nts 1 told them that I was opposed
to the recharter of the present bank on any terms and that if
it succeeded in its present altempl to coerce the renewal of its
charter, the government of the country would, in eft'ect, be sur-
rendered into the hands of a money corporation that I was
opposed to any hank of the United States, anil h.-licvod such an
institution wholly unnecessary that the stale banks, 1 had no
<louiit, were fully competent to perform the duties ol fiscal agents
and that notwithstanding the efforts to embarrass their opera-
tions and to discredit them, I had found no difficulty in carrying
on the operations of the treasury, ami placing money wherever
it was needed for public use and that I was satisfied they
would be uble to afford all the facilities in the domestic ex
changes which the interest of thu- country required, and upon
terms as favorable as any hank of the United Slates that the
pressure, of which they had spoken, had been designedly creat
d by the hank of tin; United States for the purpose of compel-
ling the people to yield to the demands of the bank but it was
greatly aggravated by the panic which had been got up to aid
the bank in its attempts to bring distress and ruin on the coun-
try that the newspapers in the commercial cities, which were
understood to belong to the bank, or to be under its control,
had teemed, for months past, with groundless reports of fai-
lure?, arid bankruptcies, and predictions of the approaching
ruin of the mercantile community, and the stoppage of specie
payments by the state banks that the merchants themselves
bad, by their own conduct, and meetings, and resolutions, and
deputations to Washington, contributed greatly to increase the
excitement and alarm, and by that means disabled the state
banks from loaning as freely as they would otherwise have done
that ifthe mercantile community of a commercial city chose
to proclaim itself on the eve of bankruptcy, every body would
fiaturally believe them, and be unwilling to trust them, and that
embarrassment and distress would unavoidably follow the de-
struction of credit..

That if they expected to drive the administration from its
course by such measures they were mistaken, that the govern-
ment was not responsible for evils which merchants, or any
other class of individuals voluntarily brought on themselves for
political party purpo.-es; and it could not be expected to change
its course on that account. And if by persisting in fostering
the alarm they had excited, and increasing the panic, they
hould produce the geimral ruin which they said was about to
foil An HID city, it would not change the measures of the admi-
nistration that the evil would be the work of their own hands
for winch the government was in no degree responsible; that it
WAS 111 their own power to produce or avert it, and they could
not justly charge, upon the government, the evils which they
themselves should voluntarily occasion.

I do not profess to give you the whole conversation between
us which lasted more than half an hour. But I give the opi-
nions distinctly stated by me, to which the passages mentioned
in the report, (if I used such expressions) must have had refer-
ence.

I cannot undertake tn say whether I dirt or did not use the words
imputed to me. But, if they were used, they were applied to
the general ruin which the mercantile community should wil-
fully bring on itself by creating a panic for party purposes. The
committee have reported my language, as if I hud expressed a
cold and callous indifference to the sufferings of Baltimore.
Nothing could be more unjust. I was endeavoring to impress
upon them trie folly of co operating with the bank in exciting
an alarm for political objeot, and ruining the credit of their
whole community to give political power to the hunk. I wished
to satisfy them, thai while il endangered the happiness and com-
fort of innumerable industrious and valuable citizen*, it would
fail to produce the political object it was intended to accomplish.

To you, my dear ir, this explanation U, I know, unnecessa-
ry. Yon have often heard me express my opinion on the sub-
ject, and would at mice see the unjustifiable use made by the
committee, of certain expressions, which they say I used. But
I am not willing to be misrepresented to the people of Balti-
more. Aud in a community in which I lived so long, and
where my (irinciples, feelings and opinions are *o well known,
I tru>t Hint not even the sanction of the names attached to the
report can persuade the people that I could express that heart
less indifference to their sufferings which this report imputes
to me.

A I have already naid four of those whose names are signed
to toe report never beard a word of the conversation alluded

to, and I did not even see them while they were in Washing-
ton, and one of the others heard but a small poriion of it. And
without meaning any disrespect to others, 1 most say that I am
as well known to the people of Baltimore, as the four gentle-
men who were present at the conversation, and I am willing to
leave it to the community in which we have all lived, to de-
cide from their knowledge of us, whether more sympathy
would be likely to be felt for the sufferings of our citizens by
Mr. J. W. Patterson, Mr. George Brown, Mr. George R. Gai-
ther and Mr. Win. Crawford, jr. than by myself and whether
either of these four gentlemen would be expected or disposed
to make greater personal sacrifices to alleviate and relieve them
than I would.

I commit this letter to your friendship and discretion. Use
it as you think right to vindicate me from the unjust imputa-
tions contained in the report.

I am, dear sir, with great respect and regard, your friend and
obedient servant, R. B. TANEY.

Ujiton S. Heath, esq. Baltimore.

P. S. I have not deemed it necessary to give more of my
conversation with the committee, than was required to vindi-
cate myself against an imputation calculated to do me personal
injury with the citizens of Baltimore. But il must not be under-
stood that I admit that my opinions are given in the report
with ordinary fairness in other respects. On the contrary, the
conversation is garbled by the committee in such a manner, as
to misrepresent me most grossly in other instances, in which
they profess to give the opinions I expressed to them.

R. . TANEY.

From the Baltimore Patriot of Match 18.
A CARD.

It is with regret I find mysell compelled to appear before the
public, to shew the injustice done me in the letter of R. B. Ta-
ney, esq. secretary of the treasury, under date of the Itlih inst.
addressed to U. S. Heath, esq. and published in the Baltimore
Republican of the Kith inst.

Mr. Taney says, that I "reprobated the conduct of the bank
of the United Slates in strong terms, said that it had abused its
power l>y wilfully oppressing the community, and that it ought
not to be rechartered on any terms, that I admitted the depo-
sites ought not to be restored, and that the restoration would
not relieve the pressure."

How he could have so entirely misunderstood my expressions
in regard to the bank, I cannot conceive, never having enter-
tained them; such a view expressed by me would have been
completely at variance with the object of my visit to Washing-
ton; and with the sentiments I .-till entertain. Mr. Taney
would be correct in saying, that I admitted there were objec-
tions to the present bank charter, and I admit that I also said it
might be questionable, whether it would be prudent to direct
the immediate change of the public money now deposited in
the state banks; but I gave it as my decided opinion, that if the
public revenue were in future deposited in the United States
bank, it would restore confidence and relieve the public dis-
tress. The views I intended to convey were decidedly in favor
of a renewal of the present bank, or the establishment of a new
bank with a modified charter, and I left with Mr. Young, his
chief clerk, an outline of such a bank as would, in my opinion,
remove many of the objections now entertained against a na-
tional bank, and requested him at bis leisure to look at it.

For the correctness of this statement, I confidently appeal to
the other gentlemen who were present at the time and heard
the whole conversation. In concluding these remarks, I need
scarcely add, that nothing was stated in the report as regarded
Mr. Taney, but what was deemed necessary to show his decid-
ed determination against the object of the mission, and that hi*
views were no further detailed than were considered necessary
to the discharge of a public duty. GEO. BROWN.

Baltimore, March 18, 1834.

In corroboralion of the correctness of the statement made by
Mr. Brown, and as a proof that he never could have expressed
himself as represented by Mr. Taney, we also publish the letter
of Mr. B. as president of the Mechanics' hank of Baltimore, in
relation to the removal of the deposites from the U. S. bank;
which must satisfy every one that Mr. B. never did approve of
the removal, and never could have expressed himself in the
terms expressed by Mr. Taney.

Mechanic*' bank of Baltimore, 31st July, 1833.

SIR: Your letter of 30th, stating that you have been appoint-
to confer with such state banks as you may think proper, in re-
lation to the future deposite and distribution of the public reve-
nue, and inquiring whether this bank is desirous of undertaking
the business of the government as now transacted by the branch
bank of the United States, has been submitted to our board of
directors.

I am instructed to inform you, in reply, that, although grati-
fied nt brini! considered worthy of so high and important a trust,
we are nnu ilting to n.-sume it.

Our capital is not large, and we find that all our means and
resource* are actively and profitably occupied. We are appre-
hensive that the facilities and accommodations which govern-
ment will require in the prompt payment and transmission to
different quarter* of large sums, &.c. kc. could not always be
afforded by a stale bank, without much embarrassment and
difficulty. I am, verv respectfully, vour obedient servant,

G. BROWN, pr't.

Amot Kendall, etg.

NILES' REGISTER MARCH 22, 1HS4 COMMITTEE OF WAYS AND MEANS 57

MR. MoKIM AND THE COMMITTEE.
From the Baltimore Republican of March 17.

TO MY FELLOW CITIZENS OT THE OTH CONGRESSIONAL DISTRICT.

The great principle upon winch every representative' in this
free government is hound to his con.itiluents by a responsibility
to them, for the purity of hi- motives, and the integrity of his
public course (directed by tlieir interests and instruction) brings
your representative before you, Cor justification or condemna-
tion of that course, under circumstances of unusual provocation
and necessity.

It must be known to all of you, that I have been wantonly
assailed by a committee opposed to the present administration
of the government deputed in a great part, from a neighboring
congressional district, and that at a public meeting convened
without the limits of my district, upon the report of this game
committee, without even the means or opportunity of a hearing
on the part of myself or friends, that meeting has pronounced
me subservient and unfit to be the representative of n free and
enlightened people. This denunciation it will readily be per-
ceived, affects you as well as myself, and if they generously
concede to you, thesame measure of light and freedom of which
they boast themselves, it will follow that, I am not worthy of
the higli relations in which I am placed to you, and that the
judgment pronounced on me is just, provided the facts and pre-
mises upon which they are based are true; and here you have
precisely the issue between these gentlemen and myself, as it is
my intention to show to you, that where they even stated any
thing that approached the truth, they have managed to distort
it, and that in other instances, they have stated what is entirely
unfounded.

In this appeal of necessity and self-defence OB my part, I
make no claim upon your known generosity. I appeal to a loftier
and more moral feeling your sense of justice; and upon the
statement of facts I shall now lay before you, compared with
their own report upon the subject, decide, between these gen-
tlemen and your representative. I was elected by you, as a
friend of the administration of gen. Jackson, and as an oppo-
nent, of the existing bank of the United Slates. It cannot be
assumed, that this was unknown to any of those gentlemen. It
must likewise be borne in mind, that I hud the strongest indi-
cation of the sentiments of the people by the vote of a meeting
in my district, convened without regard of party, approving the
course of the administration in the removal of the deposites
from the bank of the United States. All this was matter of
publicity in Baltimore; none of the committee were ignorant of
it; and the first intimation I had of their arrival in Washington
was through Mr. John B. Unwell, who with his friend Mr. Shel-
ton, from 0:<ba, on Monday evening the 10th February, called
to see me at my room, Gadsby's hotel, and were received in the
roam in which the ladies of my family and myself were. After
Ihe usual salutations and inquiries, 1 asked Mr. Howell, if the
committee from Baltimore had arrived: he answered in the af-
firmative and said, that he wished to confer with me on the
subject of presenting the memorial. I told him, that as the
greater portion of the signers to the memorial resided in the
district represented by Mr. Heath, it might be deemed improper
on my part to present it, particularly as I understood that Mr.
Heath concurred in the views of the memorialists and would
support Ilium, and that as I believed a majority of my constitu-
ents were opposed to the bank, I could not give it my support;
yet, if the committee of which lie was a member, wished me to
present the memorial, I should certainly do so; that I should
feel it niy duty to say to the house, on presenting the memorial,
that the signers were respectable and incapable of stating any
tiling, but what they believed to be UUP; that [ could not in dis-
charging what I considered to be my duty, give the memorial
my support. At this Mr. Howell seemed to be somewhat sur-
prised, under an impression, on his part, that rny mind had not
been made up on the subject submitted by the memorial. I re-
minded him then, that my election had taken place after the
order for the removal of the deposites, and by a majority of
those opposed, as I believed, to the bank, that I therefore con-
sidered myself bound to carry the will and wishes of my con-
stituents into effect; that I should be a traitor to them, if, hav-
ing been elected to support the president and his administration,
I could abandon the solemn pledges I gave to do so; and 1 did
intimate, perhaps warmly too, that I would risk my life and for-
tune rather than betray the trust which they had delegated to
me. These are, I am sure, the sentiments expressed at that
time. Mr. Howell beiim an old friend and neighbor, I invited
him and his friend Mr. Shelton (who was present, and as I pre-
sume heard the conversation), to dine with me the next day;
which invitation they accepted, and took their leave.

On Tuesday morning, February llth, at 10 o'clock, captain
Graham, the only member of the committee from the district I
represent, called at my room, I received him as an old acquaint-
ance and townsman, and invited him to join Mr. Howell at din-
ner, which he declined. He took occasion to say to me, that
a gr'eat many of those who had voted (or me had signed the me-
morial. In reply I reminded him of the large meeting which
had taken place at White hall at which resolutions had been
adopted acainst the bank, and in support of the administration
in its course with regard to the deposiles. He appeared to re
card this meeting as of little importance. I do not recollect
that capt. Graham said a word about presenting the memorial.
Being myself under engagement to meet the committee of ways
and means that morning, at 10 o'clock, capt. Graham left me.

At that moment Mr. Hugh Birckhead, another of the com-
mittee came into my room, said his visit was intended for the
ladies, and while 1 remained with him, not a word was said
about presenting the memorial. I also requested Mr. Birckhead
to dine with me that day, but he said In; \v;i under a prior n-
ganeineiit. I then went to the committee room, and immedi-
ately afterwards into the house.

Mr. Howell and Mr. Shelton, dined with me agreeably to ap-
pointment, and I trust that I shall be excused from relating the
conversation that passed at dinner. 1 am quite,sure however,
that there was nothing said about the memorial. Mr. Howell
and Mr. Shelton having expressed a desire to wait on the pre-
sident, 10 o'clock Wednesday morning was appointed, and I
was to introduce them.

As during my absence in the morning, the committee had
left their card, lor me, I deemed it proper, as a mark of respect,
to return the call, on the same day. I did so in the evening,
and on calling at their room, I found Mr. Crawford, the chair-
man of the committee. This was the first time I had seen
him, since his arrival in Washington. Mr. 1'atterson and capt.
Graham, of the committee, were in the room, and gen. Cham-
bers and Mr. Maxcy, as visitors. The rest of the committee were
absent. General Chambers and Mr. Maxcy soon look leave,
when I had some general conversation with Mr. Crawford, and
the other gentlemen present, about the slate of the money mar-
ket but not a word to my recollection was said by the chairman
about presenting the memorial. Some other visiters to the com-
mitteee then came in, as also Mr. Brown, Mr. Gaither and Mr.
Shaw, members of the committee. To the two last named gen-
tlemen, I was introduced, and with them, I conversed separate-
ly on the subject of the bank and the pressure in the money
market, but I do not recollect a word being said about present-
ing the memorial. After remaining about an hour, I took my
leave.

The next morning, Wednesday, 12th February, about 11
o'clock, 1 went with Mr. Howell and Mr. Shelton to the presi-
dent'?, and after paying our respects there, we visited the vice
president, and then wenl to the secretary of state's office. Dur-
ing this ride, a variety of free and familiar conversation passed,
and we returned to Mr. Gadsby's. This terminated all the in-
tercourse I had with any members of ihe committee, from their
arrival until their departure on Wednesday, the 12th February,
about 2 o'clock. I have no recollection of having mentioned
the name of Mr. Bibb in any manner, to any member of the
committee, and shall/or the present, content myself with a posi-
tive denial of that assertion.

This is the history, to the best of my recollection, of what
took place between the committee and myself, in relation to
this subject, and upon which, they have felt themselves au-
thorised in making the report, which denounces me as ntb-
servient, and unfit for the station in which you have placed me.

I have deemed it rny duty to lay the facts before you at the
first moment my official duties permitted in my own name, lest
my silence might be construed into an admission of the correct-
ness of any part of lhat report which relates to myself. Of the
justice and propriety of this proceeding on the part of the com-
mittee, the public will now be able to judge. I have only to
add, that I utterly deny having said any thing to any member of
the committee which could warrant them to infer for a mo-
ment, that I was willing to surrender my own opinions and in-
dependence, or violate my duty as a representative, under the
influence of official power, or to subserve any political or party
purpose whatsoever and to those who know how Httle I could
gain by such a course, and what I must lose, it is scarcely ne-
cessary to make this denial. For what purpose then, some of
those gentlemen upon the list, with whom I never exchanged a
word upon the subject of their mission, have by their names
sanctioned those misrepresentations of me, I leave to others to
infer, and to their sense of honor to approve if they can my ob
jecl has been to discharge my duty according to my own sense
of what is right, and best calculated to promote the interests
and wishes of my immediate constituents and that, regardless
of consequences to myself. This was what I meant to impress
on those of the committee with whom I conversed on this sub-
ject, and without some design to injure me, I could not have been
otherwise represented. It may be proper in conclusion to say,
that however these conversations may have been regarded by
the members of the committee with whom they were held,
garbled and distorted as they have been, I never for my own
part considered any of them official, and if the use that has
been made of them is conformable lo the moral and social code
of this committee, I am not yet prepared to become a convert
to the system. ISAAC MeKIM.

Baltimore, 15th March, 1834.

P. S. The editors of papers who have published the report
and proceedings of the committee, will please publish this.

UNITED STATES BANK.

REPORT OF THE MINORITY OF THE COMMITTEE Of WATS AND
MEANS, SUBMITTED BY MR. BINNEY.

House of representatives, March 4, 1834.

The undersigned, minority of the committee of ways and means,
to which was referred the letter of the secretary of the trea-
sury, communicating to the house his reasons for removing
the deposites of the public money from the bank of the Unit-
ed States, and several memorials upon the same subject, sub-
mit the following reasons for not concurring in the report of
the majority of that committee:

58 N1LES' REGISTEK-MARCH 22, 1834 COMMITTEE OF WAYS AND MEANS.

The removal of the public deposites from the bank of the U.
States is an act upon which the. judgment or' the couulrj' lias
now irrevocably passed. The reasons have been investigated
in boih houses of congress, and by the public press, to such an
extent that it may be fairly deemed i ill practicable to add any
thing to the arguments by which they are cither refuted or
nj-t.imeil; tut being most thoroughly convinced that the act
ot removal was wholly indefensible, without color of probable
cause, a violation of the bank charter, an inroad upon the pro
perty and security of the citizens, and upon the rights of the
legislative department, the undersigned deem it their duty to sub-
mit such a statement as will recoid their personal opinion upon
the subject.

I. The power of removing the public deposite.s is granted or
reserved by the 16lh section of the bank charter, to be exercised
by the secretary of the treasury, for reasons to be communicat-
ed to congress. This power is not absolute or unconditional,
in regard either to the bank or to the country. Absolute and
unconditional power does not reside in any department of go-
vernment. Congress hold their own power under the condition
of conforming to the principles of justice, as well as to the re-
stratnlri of limitations contained or prescribed in the constitu-
tion. They cannot grant an absolute and unconditional power
to any officer of government for any purpose of eove.rnment.
The broadest discretion they can give, must be subject to the
implied condition of beiug exercised in conformity with the
constitution, the laws, the rights of individuals, and the princi-
ples of natural justice. Above all, they cannot, in the absence
of express declaration, be presumed to have given an uncon-
ditional power t an officer of government to affect rights and
privileges conferred or sanctioned by law.

Congress have not granted to the secretay of the treasury any
power over the public deposites that is inconsistent with these
principles. The grant or reservation of power in the 16th sec-
tion of the charter is qualified by the express provision that the
reasons for its exercise shall be immediately reported to con
gre?s, and the sufficiency of the reasons concerns all who may
be affected by the act, that is to say, the bank, congress and the
people especially, who are vitally interested in every act Ilia
invades a legal or constitutional right.

The charter is a contract between the stockholders of the
bank and the United Slates, and all its clauses must receive
such an interpretation as is consistent with the principles o
contract. The United States contracted to allow to the bank
the benefit of receiving and holding the public moneys, unles
the secretary of the treasury should, at any time, see fit to orde
otherwise; in which case he should immediately lay before
congress tiie reasons of such order and decision. "In consiilera
tion oftlie exclusive privileges and benefits Conferred by this act,'
the bank contiacted to pay, and did pay to the United State
one million five hundred thousand dollars; and also encaged t
perform, and has performed for seventeen years, importan
duties, in exoneration of the treasury, at an expense of severa
hundred thousand dollars more. The custody of the public dr
posites is not only a benefit, but, next to the power of exclusiv
banking, it is the principle benefit conferred by the act. It is con
trary to every sound rule of interpretation that has ever hereto
fore been applied to a contract, or to a law regulating a con
tract, that a power like the secretary's, to suspend the enjoy
tnent of a rijitit. for reasons to be communicated forthwith t
congress, should he deemed an absolute and unconditiona
power as it regards the bank. The minority reject this doc
trine as utterly irreconcilable with justice or with law, wit
reason, whether natural or technical, with the meaning of tl
charter, or with the faith ol the nation.

Various suggestions are made to sustain the position that th
exercise of the secretary's power, whether for good reasons, o
for no reasons at all, determine-- the right of the bank to the dp
poites, and leaves the nation free from all reproach of violate
faith.

It is said that he is authorised to act, before he gives his rea
eons to congress; and his act, therefore, has validity, whateve
may be his reasons. The efficacy of his act to remove the dp
posites is not the question. Whether his reasons be eood o
bad, his order is, in the first instance, to he respected; hut if h
il bound to have gnod reasons, and his reasons have not bee
good, the subsequent communication of them will show th
his act was unjust at the time; and if congress do not rescind i
they will sanction the injustice. There are innumerable in
stances in which an order, right or wrong, must be respecte
when it is given; yet when it is subsequently shown to hav
been wrong, the injustice is declared, and the aggressor punisf
ed.

It is further said that the bank has paid nothing for HIP use
the deposites, and therefore has no right to them that may n
be revoked at pleasure, and that the bonus and other expent
tures in the public behalf have been paid by the bank for tl
privilege of exclusive banking, and for the benefit of havin
their notes received in all payments to the United States,
the deposites be a benefit, (and of this there can be no doubt
the 20lh section of the charter shows that the bonus was L'i^i
for that benefit as mnrh as for any other. The language of tl
section is general. The payment is "in consideration of th
exclusive privileges and benefit* conferred by the act," and th
it one of them. Whether the receipt of the notes in puhl
payments is really a benefit to the bank, has been much doub
d. That it ia a benefit at all comparablt to that of having IF

posites, cannot he maintained. The obligation of the United

atestn receive these notes was absolute and unlimited in the

arl.-r of the first bank, which did not pay any bonus at all; and

the present charter, for which a larirr bonus was paid, the en-

gemctit to receive them is subject to the pleasure of congress.

IK great different*; in benefit of the respective charters of the

vo banks is, that in the first there was no stipulation for the

ublic deposiles, and the hank paid nothing for its charter;

hereas, in the present charter, the case is otherwise in both

articulars.

Another suggestion to show that the power of the secreta
.'er the deposites is absolute and unconditional, is, that the
ower of congress to repeal the guaranty of the notes is so.
he difference between the cases is, that the secretary must
ave reasons for his direction, as the 16th section expressly
eclares, whereas the 14th section, in regard to the notes,
akes no sueh qualification of the powers of congress.
It is again said that the power given to the secretary by the
6th section is his old, or former power, which was absolute
nd unconditional as it regarded every depository with whom
he public money was placed, and therefore the present power
lust be the same. If the power given hy the 16th section is
IB old power, the house is possessed of the secretary's opinion
s to the extent of it. The language of the secretary's letter is
s follows: "The treasury department being intrusted with the
dmiuistration of the finances of the country, it was always the
my of the secretary, in the absence of any legislative provi-
ion on the subject, to take care that the public money was de-
osited in safe keeping, in the hands of faithful agents, and in
onvenient places, ready to be applied according to the wants of
IB government. The law incorporating the bank has reserved
o him, in the fullest extent, the power .he before possessed,
t does not confer upon him any new power, but reserves to
im his former authority without any new limitation." It is
.nnecessary to dispute the position that the power in the 16th
eotion is the old power in this sense; for the power in the 16th
fiction is not only admitted, but asserted to go to the very extent
ivhich the secretary claims for the old power, and no further,
lamely, to the extent that the safety of the deposites, and their
listribution in convenient places, require. Such a power is oh
iously neither absolute nor unconditional. But independent
f this definition of his own power by the secretary, it seemi
o have been overlooked by the committee that the present
>ower is to be applied to divest a right, whereas the former
ower was exercised over the possession of depositories who
lad no right whateve-r. The control ofihe treasury department
over the public moneys, until the charter of the present bank,
was universally a question between the treasury and congress;
t is now a question between the bank and congress.

It is finally said that the power of the secretary is absolute
and unconditional, because congress have given to him their
whole power, reserving none whatever to themselves to touch
he deposites uniil he shall have restored their power to them.
This argument begs the question in dispute. The secretary
supposes himself to be an independent judge in this matter,
whereas the minority suppose that he is merely the agent of
congress. His power in the premises is a part of their power
ntrusted to him as their representative. Though he may use
t for sufficient reasons, congress may use it also for the same
reasons. The restraint upon the exercise of his power is im-
posed by the right of the hank, and this is all the restraint that
is imposed upon the right ol congress. If the bank has no
riulit. as the committee appear to assert, upon whnt grouml onn
the right of congress be denied? If the power reserved to the
secretary, by the 16th section, is neither more nor less than the
old power, how is it possible to deny the right ofconzress to con-
trol the deposites, under the charter, if congress had any riuht to
control them before the charter? It is worthy of deep reflection,
that the argument put forward by the committee, to sustain the
secretary's reasoning, has carried them to the extent of assert-
ing that congress abandoned the public treasure to the secretary
and the bank beyond the possibility of recall.

Upon this head the minority state their opinion to the house,
that the power of the secretary over the deposites in the bank
depends for its just exerrise upon the existence of adequate
causes; that the bank had a direct and immediate interest in
them, and is entitled to an impartial decision upon them; that
an unjust derision upon them will be a violation of the charter,
and a stain upon the public faith; and that the secretary's po-
sition, that his power is absolute and unconditional in regard
to the bank, is an unwarrantable assumption of power, instead
of a just interpretation of that which has been civen.

II. In the execution of this power, the secretary was the
agent of congress, and not of the president. He derived the
power from congress; he is to report his reasons for usins it to
congress. The act of the secretary in removinB the deposit?*
is neither actually, nor by construction , the act of the president,
nor are the reasons of the president a satisfaction, either in ef-
fect or form, of the requisition on the secretary to report his
reasons. The exercise of this power affects the ptililir- treasure
which congress directed to be placed in the bank of the United
States. That trea-ure is tin- treasure ofthe. people, the custody
and control of which belongs to the legislature and to the agentx
of the legislature. The custody of the legislature is exclusive
of the executive department. The custody of the hank, aa the
agent ofthe legislature, it equally exclusive. The power of the
secretary is, in like manner, exclusive. The chief executive
magistrate has no constitutional authority to raise revenue, or

NILES' REGISTER MARCH 22, 1834 COMMITTEE OF WAYS AND MEANS. 69

to take it into his official possession when raised, or to direct
who shall possess it, or to ipterfere with a direction or authority
in this behalf, proceeding from congress, any more tlian he pos-
sesses authority to direct by whom the public money shall be
Used and consumed. The secretary cannot he relieved from
the duty of accounting to congresn by any order of the president;
nor can the reasons of the president be imposed upon him as a
guide, nor be offered to congress as an excuse. The discretion
which is given by the charter, is given to the secretary alone.
The order of removal must come directly from the secretary;
and if it came from the president alone, it would be null and
void.

The power of the president to remove the secretary of the
treasury is no reason for holding that the secretary is under the
direction of the president in the exercise of the discretion con-
ferred by the charter. The president may remove the secretary
whether he performs or does not perform his duty. The legal
power to do it is as perfect in the one case as the other. The
mere existence of the power does not consequently imply the
right of direction or control. The constitutional duty of the
president, to see that the laws are faithfully executed, requires
him to see that an officer to whom the law confides a discretion
is permitted fairly to exercise it. A law which confers a discre-
tion upon one officer, is violated, instead of being faithfully
executed, by compelling him to submit to the discretion ol
another officer. If the president has in this matter, directly or
indirectly, controlled the discretion of the secretary, the law has
not been faithfully executed, and his act has been a violation
both of the law and of the constitution.

III. The only adequate cause for removing the public depo-
posites, must be a cause affecting the safety of the public mo-
neys in the bank, or their distribution for the public service
Such a cause alone directly concerns the subject upon which
the power is to be exercised. It is the only cause of which the
functions of his office and his relations to the bank authorise
and enable the secretary to judge, and which is of such a nature
as to require immediate action without a previous reference to
congress. It is the only cause which would justly deprive the
bank of the use of the public moneys after having paid for it
It is the only cause which congress could safely submit to the
discretion of the treasury, without abandoning to that officer
the whole scheme of public policy in regard to a national bank.

1. A cause that does not directly concern the subject upon
which the power is to be exercised, must regard the public mo-
neys as an instrument, and not as an object of the power. To
comprehend such a cause, the charter must be construed to
give the secretary an unlimited choice of the objects to be at-
tained by the custody of the public moneys; for as none are
pointed out by the charter but those of mere custody and trans-
fer, the instant that these cease to be only objects of the power,
we are without any limitation. Whether the purpose of the se-
cretary be local or general, whether it be to make money dear or
cheap, to regulate or disturb exchanges, to promote or retard
public works, to increase or diminish the amount of bank dis-
counts, to excite or counteract political movements, each and
all of these objects must be within the discretion of the secretary,
if any of them are.

2. That the secretary should be entrusted with a power ne-
cessary to protect the treasury itself, or to meet the demands
upon it, is reasonable. If the public moneys are exposed to dan-
ger, he must first perceive its approach, and would be best able
to measure its extent. He also, from his official position, must
know the direction which public engagements require to be
given to the means of satisfying them. The power, which
either danger or the public credit makes necessary, is one that
does not admit of delay, whether congress be in session or not.
The action required, to be effectual, must be in some cases in-
stantaneous. The grant or reservation of such a power to the
secretary of the treasury wa* necessary and proper. Rut if the
public moneys were to be made an instrument for affecting an
ulterior object, no reason can be imagined why the power of
using them should be given to the secretary rather than to the.
president, or why it should be given to cither instead of being
left to the action of congress. That nothing but the safety and
distribution of the national treasure were the lawful objects of
the secretary's power, is conclusively shown by the circum-
stance that the "act to establish the treasury department," the
very moment that the secretary gave the order not to make the
depojites in the bank of the United States, placed them in the
hands of the treasurer, who could lawfully make no disposition
of them, but to keep them securely, to be disbursed according to
law. A removal of the deposites for any purpose, except to
place them in this custody, would he not only a violation of the
rights of the bank, but of the functions of the treasurer as creat-
ed by law.

The minority are aware that an elaborate inquiry into the
histnry and practice of the treasury department has been made
by th6 committee, for the purpose of sustaining the positiot
that the secretary of the treasury has the right, not only to su
perintend the collection of the revenue, but to direct in whose
hands it shall be placed after it has been collected, and fo
What purposes it shall be placed there. The minority do no
entertain the opinion that the inquiry has sustained the position
of the committee. It ought to be a sufficient objection to it
that it gives to the secretary a power which the law Hoes no
give him. The secretary's asserted power is both without lax
and against law. It is a further objection to it, that most o
the precedents of treasury practice referred to, are direction

affecting the collection of the revenue, which, by law, jg under
he superintendence of the secretary. The acts or gen. Hamil-
on, the first secretary of the treasury, are all ol tins description'
hey prove nothing to the pnrpo.-e. Order* to collector* to place
he duty bonds in particular banks tor collection, are strictly
within the legal authority of the secretary. More must be
shown, in make any of the precedents conclusive ort the point
for which they are cited, namely, the existence of a treasury
jractice. But if the practice were, in point of fact, established
10 instance, has been produced, in which the law has sanction-

The language of the 16th sec. of the present charter expressly
confines the .power of the secretary to the making ofan order or
direction, that the deposites of the public moneys shall not' be
made in that bank; and does not give him authority to direct
where they shall be made, or recognise such an authority as ex-
isting in him. It does not authorise him to remove the deposites
already made there, or to select another place of deposite. He is
to order or direct that they shall not be made there, and this order
is not to be executed by himself, but by those to whom the ge-
neral law gives the custody of the treasure, when the place
selected by congress is repudiated by the secretary. Nothing
can afford a stronger argument against the asserted authority of
the secretary to direct in what place the public deposites shall
be made, than the omission to describe his power as that ot or-
dering or directing them to be made in some other place or placet.
Until the law shall give the power to the secretary, whicb it
probably never will do, without regulating its exercise so as
to make it consistent with the public safety, the minority must
be understood as wholly denying the efficacy of any practice
whatever to give it, in violation of the plain provisions of the
act of 1789.

But if the treasury practice was known to congress, what fol-
lows? What is the import of the provision in the charter that
the public moneys shall be deposited in the bank, except that
the practice was thought dangerous to the safely of the public
moneys, and therefore was to be abolished, unless where that
satety itself required a change of the place of deposite? The
question under consideration is, whether any thing but the safe-
ty of those moneys, and their due distribution, authorised the
order: and it is an extraordinary mode of proving the secreta-
ry's power, to show a former practice to that effect, before the
charter was granted, and which the charter provision effectual-
ly opposed.

3. The removal of the deposites must have been regarded by
the congress which gave the charter as a certain loss to the
bank. The hank was to pay for them, and to be at liberty to
employ them according to the usage and practice of banks; hold-
ing itself ready to pay, on demand, whatever should be requir-
ed, in pursuance of appropriations by law. The advantage of
possessing them was great, and the disadvantage of losing them,
after paying for the. possession, was greater. If they were to be
removed on account of their insecurity, or for any breach of
contract by the bank, or to place them where the bank could
not herself distribute them, it is easy to perceive why no provi-
sion is made for an indemnity to the bank; hut if they might be
removed for other causes, particularly if removed to promote
other interests, at the expense of the bank, indemnity would
have been provided, because it would incontestably be due.

4. The decisive reasons, however, against allowing the se-
cretary to order the removal for any other cause, is that the

rant of such a discretion abandons the bank, as well as the
ountry, to the secretary of the treasury, and gives him a sway
ver the nation, which belongs to no other than the legislative
parlment.

It is not to be doubted that the entire removal of the deposites
s fatal to the bank as a national bank. Instead of being the
ank of the nation, the nation, by depositing its treasure else-
where, adopts other banks, and sets them up in opposition.
"his is the certain and undeniable effect of the secretary's act;
nd if he had power to do this, he had power to repeal the hank
barter. If, indeed, the bank had disqualified herself for her
uties, by insolvency or infidelity, the removal of the deposites,
o secure their safety, could only be considered as a renuncia-
ion of the bank, after the bank had renounced the nation; but
a removal for other causes, however honest or good they may
je, curi only be regarded as a removal to destroy the bank.

As to the suggestion, upon which the. committee appear to
>lace some reliance, that safety cannot be the only reason, be-
cause, in case of danger, the removal could not be effected, if it
jroves any thine, it proves that safety cannot have been even
one of the objects of the power, because it was an unattainable
object; and then it prove? too much.

A cause, then, which neither concerns the safety and due
transfer of the public moneys; nor is within the cognizance ef
the secretary's office; nor furnishes a moral justification for de-
priving the bank of a benefit which it has purchased and paid
for; nor can be confided to the judgment and discretion of an
individual, without surrendering to him the. established policy
of the nation, cannot be such a cause as justifies the secretary
in ordering the removal of the public deposites, because it can-
not be maintained that congress meant to give him a discretion
to such an extent.

IV. The secretary's communication admits that the public
moneys were safe in the bank, and that in the transfer of them
from place to place, and in the performance of every duty to the
treasury, which the law requires, there was no ground of com-
plaint whatever against the bank. Thee* facti art admitted,

60 NILES' REGISTER MARCH 22, 1834 COMMITTEE OF WAYS AND MEANS.

because, in a communication which accumulates all the re
sons which have governed the secretary, there is no suaesii<
of danger to the public moneys, or of infidelity in the transfer
them.

V. The causes which the secretary has assigned for the r<
moval of the duposites, miyhl, therefore, if the preceding prop
siliuns are true, be generally rejected as insufficient and illega
since they do not come within the only description of cause
which the minority hold to be adequate. They are, howeve
deemed to be particularly and specially inadequate, and mo
of them for reasons which are independent of any of the prece
ing propositions. Such of them as do not involve any dispute
tacts, are inadequate in law. Those which depend upon sue
matters of tact, are inadequate in law, and also in point of proo
All of them which accuse the bank of violation of charter, an
claim to proceed upon that ground, are themselves in flagran
violation of the charter, and of the constitution of the union
which entitle the bank before the infliction of any penally wha
ever, to an impartial sentence of the judicial department. Upo
these reasons, the undersigned proceed to submit the foilowiu
remarks:

At the head of the secretary's reasons, is placed the expira
tion of the charter and corporate powers of the bank, on the 3
of March, 1836. This is a reason which congress, by the clear
est implication in the charter, have declared to be insufficient
1. By the 15th section, congress have exacted of the bank
whenever required by the secretary of the treasury, to give th
necessary facilities for transferring the public funds from plac
to place within the United Stales, or the territories thereof, an
fat distributing the same in payment of the public creditor:
during the continuance of the act; and also to do and perform th
several and respective duties of commissioners of loans, when
ever required by law, which requisilion was made in terms o
unlimited continuance, that is to say, for the whole period o
the charter, by the act of 3d March, 1817. These provisions o
law are in irreconcilable hostility with the notion that, for th
mere lapse of time, congress authorised the secretary to remove
the public moneys from the bank two years and more before th
charter would expire. The bank cannot give facilities for trans-
ferring and distributing the public funds throughout the Unite
States, in payment of the public creditors, without having the
funds in her possession to transfer and distribute. The duty i,
for the whole period of the charter. The possession is impliei
or the same period. Whatever may be the discretion of tin
secretary as to other causes, be has no discretion to remove tin
deposites for the mere lapse of time, since the 15th section se
cured to the public, for the whole lime of the charter, the per
formance of the duty by the bank.

2. Tills cause has not, and never had any contingency abou
it, nor is the removal on account of it, a remedy for an unex-
pected evil. If there is any evil in permitting ihe deposiles to
remain in the bank until the expiration of the charter, congress
knew that the evil would occur, unless they should guard agains
Hand yet they did not guard against it, but gave the bank a righ
to the deposites for the whole time, and received from the bank
a compensation proportioned lo that time.

3. The cause is not well founded in point of fact. The char-
ter does not expire on ihe 3d of March, 1836. Certain of the
faculties of the corporation will expire at that time, and certain
of them will not; and Ihe very faculties which will not expire
are those whose cessation would atone give color to the remov-
al, upon the ground ofliine. The faculty of retaining the pub-
lic and private deposites, and paying them in such porlions as
may be required, will continue after the 3d of March, 1836, in
as much rigor as before. The bank will continue for two years
after that time lo be a corporation for the purpose of holding
and paying deposites, and of owning and paying her bank notes
in circulation; and what other corporate faculties concern the
security of the public treasure?

4. This cause is founded, moreover, upon an assumption that
it would be the height of extravagance to suppose it was con
lemplaied by Ihe congress which incorporated ihe bank. The
secretary supposes that the charter, "in many of its provisions,
is not warranted by the constitution, and that such a powerful
moneyed monopoly is dangerous to ihe liberlies of ihe people,
and to ihe puriiy of our political institutions;" and ihat he is
required to act upon the mere lapse of time, because he has no
right to assume thai unconstitutional law, and a law dangerous
to the liberlies of the people, will be renewed. But it seems lo
have been forgolleu that Ihe question of removal is not ihe
question of renewal, but a question of the interprelalion of the
charter; and, it this is the true question, can it be seriously al-
leged that the congress which passed this law meanl to include
among the sufficient causes of removal, one that depended on
the assumption that the charter was againsi (ho constitution?
Had the charier conlained an express stipulation thai ii never
should be renewed, inslead of its fallowing as a consequence
lhal the bank ought not to enjoy the privileges and benefits pro-
mised her up to the last moment of her existence, the contrary
would have followed, because the bank could not have an in-
demnity for the wrong in the terms of a subsequent charier.

5. ll U attempted lo sustain Ihe propriely of ihe removal for
this cause, upon the. further ground, thai Ihequealion of renew-
al has been decided adversely to the bank by the last election
of president. But what pan of ihe charier, or of any law of
congress, authorises the secretary to communicate such a rea-
ton to the house? Where is ihe warrant for the secretary's in-
structing congress as to the decision of the people upon a mat-

ler of fulure legislation? By whal channel does ihe secrelary
maintain an intercourse with Ihe people lhal is not open to their
representatives? How does the secretary know any thing as to
the wishes of ihe people, which the representatives of ihe peo-
ple do not belter know themselves? The communication of
such a reason to the representatives of freemen, who are them-
selves freemen, is without a precedent in the hislory of this or
any other representative government. The alleged fact is,
moreover, an assumption, and a mere assumption, without
proof, and withoul ihe means of proof. Il is a political infer-
ence which ihe people of this counlry will never susiain, until
they are prepared lo say that the election of a presidenl is not
the result of a preference founded upon his general qualifica-
tions, opinions and aclions, bul is an adoption and ratification
of bis single will to any extent that he has at any lime declared
it, and even when he may have declared it in contrary direc-
tions at different times.

6. Another suggestion by the secretary, in connexion with
the question of time, is the apprehension of danger to the depo-
sites, by permitting them lo remain in ihe hank until ihe expi-
ration of the charter. The congress of 1816 were but a very few
years removed from a parallel case in the history of our govern-
ment, calculated lo pul to flight every such apprehension. They
had at thai time before them the closing transactions of the first
hunk of the United Stales. They had seen thai ihe first admi-
nistration of Mr. Madison (and it was in his second term of of-
fice that the present bank was chartered) wilnessed Ihe con-
tinuance of Ihe public deposiles in that bank to Ihe last mo-
ineiit of its existence. They had seen that the then secretary
of the treasury, Mr. Gallatin, who had been in office for ten
years, and who had for twice ten years given the strength of
his powerful mind to the investigations of finance, and of prac-
tical banking, had not directed a removal of ihe deposites from
any apprehension of a final default in the bank. They had seen
this, moreover, in the case of a bank whose corporate powers
expired totally and absoluiely on Ihe 3d ofMarch, 1811, so that
all subsequent operalions were lo he conducted by the machine-
ry of a trusl, and by no olher means. They had seen Ibis bank
expire with a circulation then flowing through the country
,'reater than the maximum of ils amount at any previous time,
with Ihe usual extent of deposites, public and private, in its
vaults; with nearly all its canvas of every kind spread to the
asl hour of its voyage, and which the jusl and amicable rela-
.ions subsisting between the administration and ihe bank made
I safe lo spread for Ihe good of ihe counlry. They had seen
Ihe trustees of that bank pay every dollar of its debls instantly
upon demand; and finally, they had seen that demand so much
behind the ability of ihe trustees to meet it, that ils lardy ap-
proaches were quickened by repealed public noiices to come in
ind relieve the trusl, by presenling the notes for payment.
Ami what did the congress of 1816 provide, or mean to provide,
or the occurrence of the same day in Ihe career of the present
>ank? Did "they mean lo provide for an apprehension which
hey knew to be chimerical? Did they mean to give occasion
or aclual apprehension and dismay, by authorising Ibe officer
at the head of the treasury to declare that there was cause for
hem, and by his very declaration to creale Ihem? On the con-
rary, they negalive all such fears and suppositions, by adding
wo years more lo Ihe corporate existence of the bank, for the
/ery purpose of enabling it to liquidate its affairs after its bank-
ng powers were at an end.

The minority deem it expedient to add a summary statement

jf the condilion of the first bank of the United Slates on Ihe 1st

larch, 181 1, two days before the expiration of its charier, and

I two semi-annual periods after the expiration, and to n.ime
lie tables from which' they are derived, that the benefit of the
acts may avail hereafter, if unfortunately they are to be lost to
he counlry 'for all purposes of present good.

On the 1st of January, 1811, the situation of the bank was as
ollows:

Notes discounted and loans $17,759,001

Specie 5,317,885

Public deposites 6,474,402

Private deposiles 3,S5">,402

Notes in circulalion 6,070,153

On Ihe 1st ofMarch, 1811, the same items stood thus:
Notes discounted and loans 1 :,587,134

Specie .4,835,702

Public deposites 2,874,833

Private deposiles 3.583,596

Notes in circulation 6,552,875

On the 1st of September, 1811, ihe same items stood thus:
Amount of discounts and loans 7,152,786

Specie 4,500,527

Public deposites 322,349

Private deposites 448,113

Notes in circulalion 2,963,209

On Ihe 1st ofMarch, 1812, twelve months after Ihe expiration
'the charter:
Amount of discounts and loans 3,792,975

Specie. 6,116,776

Public deposites 81,517

Private deposites 223,442

Notes in circulation 1,070,459

II is unnecessary to suggest Ihe inferences lo which these
alcmenla give rise. By advening to ihe ralio which the ca-
lal of the first bank, ten millions of dollars, bears to thirty-five
illions, th capital of the present bank, and by applying ihe

NILES* REGISTER MARCH 22, 1834 COMMITTEE OF WAYS AND MEANS. 61

ham* ratio to the liabilities and resources or the two banks,
Will be easy to perceive whether the case of the first bank was
or was not, of a character to allay the alleged apprehensions o
the secretary.

1 7. The remaining^suggestion of the secretary, under the hea
Of time, is the necessity or expediency of providing the counir
with a paper currency from ili local banks, as a substitute fo
that of the bank of'ilie untied Stales.

The minority have understood the committee to say that the;
flo not claim for the secretary a power to remove the deposite
for the purpose of regulating the currency. The question i
what the secretary has claimed for himself; and that there ma)
be no misunderstanding about it. extracts from his letter ar
given, that it may be seen not only that the secretary has claim
d this power, but that the effect upon the currency was tht
great public and political purpose of the whole operation. No
thing can be more distinctly and literally avowed. "It is obvi
ous," the secretary says, "that the interests of the countr.v
would not be promoted by permitting the deposites of the pub
lie money to continue in the bank until its charter expired
Judging from the past, it is highly probable that they will always
amount to several millions of dollars. It would evidently pro
duce serious inconvenience, if such a large sum were left in
possession of the bank until the last moment of its existence
and then be suddenly withdrawn, when its immense circulation
is returning upon it to be redeemed, and its private depositors
removing their funds into other institutions. The ability of the
bank, under such circumstances, to be prompt in its payments
to the government, may be well doubted, even if the ultimate
safety of the deposites could be relied upon. Besides, the prin-
cipal circulating medium now in the hands of the people, and
the one most commonly used in the exchanges between distant
places, consists of the notes of the bank of the United Stales
and its numerous branches. The sudden withdrawal ofils pre-
sent amount of circulation, or its sudden depreciation before any
other sound and convenient currency was substituted for it, woulc
certainly produce extensive evils, and be sensibly felt amonj,
all classes of society."

The secretary then adverts to the public agreement to receive
the notes of the bank in payment of its dues, and proceeds as
follows: "But this obligation on the pan of Ihe United States
will cease on the third of March, 1836, when the charier expires;
and so soon as tliis happens, all the outstanding notes of the
bank will lose the peculiar value they now possess, and the
notes payable at distant places become as much depreciated as
the notes of local hanks. And if, in the mean lime, no other
currency is substituted in its place by common consent, it is easy to
foresee the extent of the embarrassment which would be caused by
the sudden derangement of the circulating medium, ft would be
too iate, at that time, to provide a substitute which would ward
off the evil. The notes of the bank of the United States in cir-
culation on the second of September last, which was the dale
of the latest return before me when the order for removal was
given, amounted to $18.413,287 07, scattered in every part of
the United States: and if a safe and sound currency were imme-
diately provided, on the termination of the charter, to take the
place of these notes, it would still require time to bring it into ge-
neral use, and in the interim the people would be subjected to all
the inconveniences and losses which necessarily arise from an un-
tound state of the currency. The evil would be so great, and the
distress so general, that it might even compel congress', against
its wishes, to recharter the bank; and perhaps more effectual
means could hardly be devised for insuring the renewal of tiie
charier. It is evidenl thai a slale of things so much to be de-
precaled can only be avoided by timely preparation; and Ihe con-
tinuance of the deposites can only lie justified by the determi-
nation to renew the charter. The state banks can, I have no
doubl,/urnisA a general circulating medium, quite as uniform in
value as that which has been afforded by the bank of the United
States probably more so. For it is well known that, in some
of the cities, Ihe branches of the bank have been in the habit,
whenever they thought proper, of refusing to honor the notes of
their own hank, payable at other branches, when they were not
offered in discharge of a debt due lo the United Stales. But a
currency founded on the notes of state banks could not be suddenly
substituted for that heretofore furnished by the bank of the United
States, and take the place of it, at the same moment, in every part
of the union. It is essential that the change should be gradual,
anil sufficient time should be allowed to suffer it to make its way by
the ordinary operations of commerce, without requiring a hasty
and violent effort.

"In Ihis view of Ihe subject, it would be highly injudicious to
suffer the deposites to remain in ilie bank of the United States
until the close of its corporate existence. And as they cannot
be withdrawn without the action of the secretary of the treasu-
ry, it must unavoidably become his duty, at some period of time,
to exercise the power of removal."

These are literal extracts from the secretary's letter, and no
one who reads them can doubt that the secretary claims the
right to regulate tin: currency, and that he meant to force one
kind of currency out, and, by means of the state banks, to force
another kind of currency into use. Can any one who has read
his letter, doubt that, if this power is denied by the committee,
they deny the whole case of the secretary? The lever he has
undertaken to use, is one which not only cannot be used with-
out changing the currency, but the secretary has used it for the
express determinate purpose of producing the change. But to
proceed with the reason itself:

The value of the measure, as an operation of finance, to ex-
pel one currency, and to introduce a belter, has been already
tested, in the short time which has elapsed since the order of
removal. The discounts of the bank h.-ivu been partially reduc-
ed, yet the circulation of the batik, instead of being diminished,
has increased. The local bank paper, except for local purposes,
has generally depreciated, and the paper of Ihe batik of the U.
Slates is at par in all pla- ., except where it is above par. But
without adverting further to Ihe incompetency of the means
proposed lo attain the end, it is an imputation upon the congreaa
of 1816 lo say they intended to authorise the secretary of the
treasury to use any means whatever for the attainment of gucb
an end. The avowed purpose of the secretary is to change ihe
currency of the country, and to change it during the very time
in which congress have made a differenl provision in regard lo
it. The purpose is lo be effected by compelling Ihe bank of lha
United Stales to cease lending, arid by enabling the deposite
banks to lend; by compelling the one lo cease circulating bank
notes, and enabling the others lo circulale Ihem more exten-
sively. In fine, by compelling them all to give him indirectly
the management of banks, withoul any law lo warrant it, and
to surrender it themselves, contrary lo ihe laws by which they
are exclusively entitled to it. A power to do this no congress
could lawfully give to a secretary of the treasury, and no con-
gress therefore should be presumed to have given it. It is a de-
legation of the highest powers of legislation, under the form of
ministerial agency. If there i? any legislative power which de-
mands more circumspection in its use than any other, it is that
of regulating the currency. The currency is the measure of
value of every man's property, of his contracts, of indemnity
for the breach of them, and of the revenue of the country; and
without a due adjustment of it, it is a hopeless efforl to distri-
bute in equal proportion among the citizens either the burdens
or advantages of civil society. A deranged currency deranges
every institution of the country that has any relation to proper-
ty. It makes laws, promises, the verdicts of juries and the
judgments of courts, speak unintentionally the language of false-
hood or deceit. It gives a premium to fraud, and strips honest
labor of its scanty earnings, by paying to it half of its just re-
compense in the false and counterfeit name of the whole. Yet
this power the secretary of ihe Ireasury claims lo exercise, by
delegation from the representatives of the people, and he has
proceeded to the exercise of it, with consequences which are
now spreading in a wave of desiruclion over the whole country.
The secretary claims the power to remove the public deposites
from the bank, if in any degree it tends to promote the conve-
nience of the people, that is to say, if it so tends in his opinion;
and his opinion, with this mighty lever of the public revenue,
s, consequently, to sway the universal interests of this immense
leople. And what are the direct evidences that congress meant

give the secretary of the treasury any such power? He is not
>y law intrusted with the cusiody of a single dollar of ihe pub-
ic treasure. His hands do noi legally receive it, and cannot
egally hold it. His duty is to prepare plans for ihe manage-
nent and improvement of the revenue, to prepare estimates of
he revenue and expenditures, to superintend the collection of
he revenue, to decide on the forms of keeping and stating ac-
counts, and to grant warrants in pursuance of appropriations by

aw. The notes of the bank of the United States, against which
his battery is directed, he as bound by law to protect, by requir-
ng all public collectors to receive them in all payments to the
Jniled States. The stock of the nation in the bank of ihe U.
States he cannot sell, nor separale Iheir interest, to the extent
if seven millions, from that of the other stockholders of the
>ank. The payment of the interest and principal of the public
lebt must be made by and throiiah ihe bank, as commissioners
.("loans. The rniliiary pengiom must be paid Ihrough the same
hannel. And thus, while several permanent laws, of congress,
vithout any limitation in point of time, sustain the circulation
'f the bank, the relations between the bank and the treasury,
nd Ihe conlrol thus obtained over the curreney of the country,
he secretary of the treasury, under a provisional clause in the
ank charier, lo order lhal the deposites of the public moneys
hall not be made there, claims the authority to break up Ihe
iresent system, and to substitute another, for regulating the
urrency and properly of twenty-four states, and thirteen mil-
ions of people. The minorily do not believe thai a like attempt
as ever before been made, with or without authority, and all
iresent indications are inconceivably deceptive, if the result
hall not afford a memorable warning against the like attempt
gain.

The secretary's plan is now called an erperiment. The name
adopted, because it would seem only to defer, and not ah?o-
itely to destroy, the hope of ultimate safety. It is adopted, be-
ause it would seem to make those who prosecute it responsi-
le for less, because they promise less. But the change of name
hanges neither the thing nor the responsibility for it.
n experiment, what law, what principle of our civil associa-
ons, authorises the treasury department to try such an experi-
ment? What security does government afford to the property
f the citizens, if the treasury may try oxperimenls wilh il? If
be an experiment, whal authorised its Irial in a day of unusn-

1 prosperity, and when the only rational, prayer to the Civil
uler was, "let us alone?" What justifies its continuance,

.'hen the first test that has been cast into the the crucible wilh
IB precious materialc of human happiness, has nearly decom-
osed them all, and ihreatens to convert them info poisons that
ill corrode and canker the country to its very heart? Il is no

62 NILES' REGISTER MARCH 22, 1834 COMMITTEE OF WAYS AND MEANS.

longer an experiment. It has been tried, exposed, and ought lo i 10 begin lhe traffic? For specie, like other merchandise, is to
be rejected. It is no longer an experiment, unless it would de be bought and paid for; and it must be bought and paid lor by
seive Hie name of an experiment lo try whether life can be sup- something besides paper. And when there shall be a thoiough
ported without vital air, or the laborer and his children without abolition of every kind of paper from use, how will the gold and
Sarfy bread. silver be better than lhe paper we have had hitherto, which gave
il it should finally happen, in the progress of the experiment, us all the gold and silver we wanted, and did not compel us to
that a currency is created such as the secretary anticipates, take it when we did not want it? What will the country have
what is thai currency lo be to the country, and what is the coun- gained, and particularly lhe industrious and enterprising, who
try to be by means of il? This question may be answered by are without capital, and must borrow il in order lo use il the
our own history, as it might be answered without lhe aid of men by whom this nation has been enriched and BUvMflBCIMMii
history. It is nol t' be a national currency, nor a currency What will lhe industrious and enterprising do, after a scheme
partly local, and partly national, maintained every where in shall have succeeded, which, by deslroying paper, will infalli-
the condition of equality, by a universally pervading influence, bly destroy bank credit, and give to the mini of capilal a mono-
bul il is to be a variely of "locnl currencies, subject to local in- poly of the trade and industry of the country? The subject,
flucncc only. The state banks, .-uul the state banks only, are however, need not be pursued. There is a power in the necea-
to furnish it. They are lo furnish it under lhe patronage of the sities of men, which will baffle all such designs, if they shall be
treasury, and with a lull knowledge of the maxims which have seriously entertained; and this the minority do not, in the slight-
been quoted by the committee, "that the borrower is Ike serou.nl est degree, apprehend. If bank paper is not to be wholly ex-
of the Under," and that "Ae who conirols a. bank, controls the tinguished, but only diminished by the substitution of metal for
debtors of a bank," maxims which will be found lo lose none of the smaller denominations of notes, this, indeed, is admitted to
their force when state hanks shall feel the eJV.-ct of llieir posi be an ohjecl of greal importance, and mainly for the reason
lion as borrowers of the treasury, and debtors sijall feel it also that, in case of an unusual call upon banks for specie, they may
as borrowers of stale banks that are under the control of the be able the more readily to repair their resources from the chan-
trtasury. | iiels of the country. Hut, if this design is to be carried into ef-

It w,l, be a currency wholly removed from that restraint

targe profit* shall tempt stale banks to extend their issues be ' ''
yond that measure which experience has ascertained to he lhe

Anolner rcason of , he gecretary for reinovin g ,|)e depo-

every where, and lurnishing a sumard of comparison every UHlieces ,. lr * Heveri lv er debtors, of whi eh the y have seen

where. Whe.e, again is lo be found the necessity as well as uvidunc j llle bauk ' slall(ls exciued before the world by the ,

the power, of applying the corrective? 1 his corrective is lo be courge rf ^J treasury department. The act of removal has not

found in an in.m.Hion winch issues that national paper, and *

not as good as us own, such an m.titii ion cannot leceive it, ||e d UHS nas ,, ot to this ( , been made known to

because it cannot account lor it every where to government, in , b fc b ^ ()fficja| communication flora the treasury; no

&n equa amount of its own paper or of specie. II il cannot be t , vid( , I)CK certainly of such a communication has been sent to

received by the national, inxiituiion, it must return lo Ihose who . , A|1 ^ f , mh September, 1833. by lhe secre-

assue it, and the corrective is at oiict applied. lary w lhe presidt . nt of the uallk lo ' Mivn ' lo IM( , collector at

The system of local banks, of which those to be employed by Philadelphia all bonds to the United Stales, payable on or after

the treasury are lo form a part, is, therefore, defective in this, the 1st of October, was the only annunciation to the bank in

that their circulation will be local. They will be constantly Philadelphia; and this, by the collector's letter of the 28th,

endeavoring, al leasl in a great many ea.es, to send out their would seem to have been communicated to the bank on lhe 30tli

paper to excess, and there cannot be the regular application o( of September. Yet il is now known that the removal of the

the corrective, that will as constantly prevent it. Il may be re- deposiles was a foregone conclusion a considerable lime before
pressed in some instance;*, in an irregular way, by sound state
banks: it may also be partially repressed by demands from other

states; but the effort to do it regularly, will be without induce-
ment, and will not be sustained by lhe requisite ability. Ex-
cess will creep upon the country until it is universally diffused;
and when an accidental state of lit*; balances shall lurii the cx-
cess suddenly back upon the banks which have issued it, dis-
honor will come, and with it universal alarm anil bankruptcy.
This is lhe history of lhe past, and a lesson for the future. A
confederation of slate banks, sanctioned by lhe laws of lhe
tales, is a scheme which the minority do not think il necessa-
ry to combat, until some one shall propose ft and present its
outlines. An attempt to regulate the currency by the opera-
tions of *tate banks, through private compnels, with oach other,
or with the treasury department, will probably fail, however
often repeated, as it has failed already. A partnership of differ-
ent corporations, for profit and loss, or for mutual guaranty,
with independent boards of direction, is as str.miie ;i contrivance
for the security of stockholders, us it is for the control and re-
gulation of the currency. When the question of providing n
regulation for the currency shall be deliberately considered, the
minority have no doubt that lhe project of employing stale
banks for national purposes will be universally rejected as mi
practicable.

The hope of obvinling all these difficulties by the final substi-
tution ofa metallic currency in exclusion of bank paper of eve-
ry kind, is a mere delusion. No one who reflects upon Ilie sub-
ject at all, ran either set; how it is to hit effeetecl, or what it in
to do but harm, when it shall lie etl'eeted. Throu!>h wlml pro
cess ant Hi,- state hiinki! to be extinguished, as well as the U.
Sl(U' hank? If tliey continue, how is their paper to he super
ledcd: If their paper is to remain, who is to exchange a pro-
ductive capital for specie to serve HO currency, when paper,
which costs nothing, will answer the same purpose? Who is

that.

The times and amounts in which the depositcs were to be
drawn by the treasury, were not only not made known, but
were concealed from the hank. The treasurer had been for
years in the practice of sending daily lists to lhe bank of every
draught drawn upon it, staling both the date and the amounts,
without the names of the holders; and he also sent weekly lists
of the draughts, with the particulars in every point. These
were the suggestions of amity to assist the bank, by the fullest
information of lhe treasury purposes. But as soon as the policy
of the treasury department was altered, and a hostile attitude
assumed, tin- practice of daily and weekly lists was continued;
but they did not speak the whole trutii. Draughts to an im-
mense amount were withheld from the li.-ls, t(, be used accord-
ing to contingencies, and al points where the hank might or
might not be prepared to meet them; and the daily and weekly
lists consequently became instruments of deception to the bank.
The bank was left to ascertain and prepare for the treasury de-
mand, with deceplive information as to its extent. The mino-
rity annex hereto the correspondence between the treasurer
and the cashier of the bank upon this subject.

And even now, when the cry is still that the bank is oppres-
finz the country, rumor zivits out, with her thousand tongues,
that it is the purpose of the treasurerlo reject lhe whole mass of
bank drauahls at present in circulation, amounting probably to
more than live millions, and to force them hack upon the hank,
by refusing in receive them in payment-" to the United States.
The hnnk is left to ascertain the truth of this also, and lo pre-
pare for it as she mav.

Can il he ju-tly said that the bank has. nt any time, done
more than \va< neeesvary for hrr protection, when the treasury
department has made it impossible for the bank to know whe-
ther any thing short of defence, at all points and in every form,
would give protection.

NILES' REGISTER MARCH 22, 1834 COMMITTEE OF WAYS AND MEANS. 63

What is tin- position in which the removal of the deposilea
has placed thu bunk ot the United States? Before that removal,
the bunk collected ;uid disbursed the public revenue, facilitated
the domestic exchanges by means ot it, and kept in order HIK
currency of the country every where. The hank then owed
these duties to the whole nation, and her obligations to the
stockholders were secondary. She is now deprived of the
means of performing them, and her obligations to her stock-
holders and creditors have become primuiy. The bank of the
United Slate* is now a private bunk, forced to become so
against the will of her directors and stockholders, not sustained
but opposed by the irea.-ury, and therefore lett to sustain her-
self. What is to measure her loans to the community, but the
sense of her own safely. What is to be the judgment she is to
form of the experiment now on trial, but her own judgment?
She considers, and, according to the report of the coimitt< e,
she is hound to consider, that the sentence .of death has gone
forth against hei; and it this be so, what principle compels her
to put the capital of her stockholders at lisk upon the issue of
an experiment?

The alleged pressure by the bank in August and September,
1833, with a view to coerce a rechaner, requires to be particu-
larly considered, for two reasons: first, because it is believed
that the reason of the secretary is not in this instance sustained
by evidence; and, secondly, because it is also believed that
what the bank has done, is doing, and will probably be forced
to continue to do, is in perfect coincidence in all its parts with
the plan which the secretary intended, by the removal of the
deposites, to force upon the bank and the country.

1. The imputed design of the bank to coerce the renewal of
its charter, is an inference from the mere fact of its reductions.
There is nothing else suggested to justify the imputation, and its
propriety is consequently not to be made either more or less
clear by argument. If such was the design of the bank, it is
impossible to imagine any plan that could more effectually
have promoted it, than that of the secretary. The fact of pres-
sure and distress in August and September, 1833, is however
now known to have been assumed as a motive for the removal,
without sufficient evidence or consideration. Pressure and
distress are, it is true, terms which indicate comparative rather
than absolute difficulty, and, then-fore, it is not easy to prove
that the payment of debts to a bank is not always the occasion
of some pressure and distress to those who are compelled to
pay. But such as are sufficiently at ease to consider what was
the condition of the country during the sixty days which pre-
ceded the removal of the public deposites, and to compare it
with that which it has assumed in the course of the last two
months, will admit that the state of the country, up to the
hour of removing the deposites, was a state of comparative
beatitude. In the now established sense of pressure and dis
tress, the commercial cities and the country, up to the lemova
of the deposites, were wholly exempt from every appearance o
either. That justification of the secretary's motive fails there-
fore entirely in point of fact. Had any such pressure existed
the intention to remove was so justly apprehended for months
before it was executed, and the reductions by the bank of the
United States in August and September were so indispensable
to her safety, in the extraordiuary relation in which the treasury
was about to' place her, that few persons, who consider the sub
ject dispassionately, would he inclined to infer a purpose o
coercion from that which could be so much more natural!;
traced to the motive of self-protection.

2. But the conclusive answer to the secretary's reason is

that what the bank did, is doing, and must continue to do, was

and is, and will continue to be, the inevitable effect, as well a

the declared purpose, of the secretary's plan. That plan seem

of late to have been put aside for the more satisfactory occupa

lion of censuring the bank. It deserves to be recalled to the

consideration of the house. It is to be recollected that the se

crelary assumes as a postulate, that the notes of the bank, a

soon as the charter expires on the 3d of March, 183(3, "will los

the peculiar value they now possess, and the notes payable a

distant places become as much depreciated as the notes of loca

banks; and if in the mean time no other currency is substitute

in its place, by common consent, it is easy to foresee the exten

of the embarrassment which would be caused by the sudde

derangement of the circulating medium." The secretary the

proceeds to say, that "it is of the first importance to the inter

ests of the public, that these notes should all be taken out o

circulation before they depreciate in the hands of individual

who hold them; and they ought to be withdrawn gradually, an

their places supplied as they retire, by the currency which wi

become the substitute for them." The secretary then immed

ately inquires, "How long will it require for the ordinary ope

rations of commerce, and the re/luction of discounts by the bani

to withdraw the amount of circulation before mentioned, with

out giving a shock to the currency, or producing a distressii

pressure upon the community?" The secretary answers h

own question "I am convinced that the time which remaine

for the charter to run after the first of October, (the day on whi<

the first order for removal took effect), was not more than wa

proper to accomplish the object with safety to the coinmunit

and if it had depended on my Judgment at an earlier period,

should have preferred, and should have taken, a longer time.

Here, then, is the secretary's plan distinctly announced. T

bank was to be compelled to withdraw nil he* notes from circ

lation before the 3d of March, 1836, and was to begin forthwii

the whole time that remained was not more than wa*
ough. The secretary would have taken more if he could,
id the hank, by tukin; the two month.., before the removal, did
ul assist the design of the secretary. The secretary liinu-elf
rceives that the bank c.m effect the recall of the notes only
1 rediiciiii! the discounts. His plan, therefore, was to compel
duction forthwith by reniovii:i! the deposited. This is demon-
lahly plain. It admits of no doubt whatever. The extent of
duclion necessary to produce this effect, was consequently
e very extent of reduction which the secretary meant to force
ion the bank, and any reduction short of it i le> than he m-
nded. Now, it is equally clear thai nothing could call in the
hole ciiculation, but calling in all the durounls and cloning
le bank. With tht: first il,. -count the first l.n.ik note went out.
lie last note may be expected to come m tvi.'h the last loan
at shall be repaid. The secretary's plan, to take all the riotvi
ut of circulation before the 3d of Match, 183G, was thereloie a
an to call in all the discounts before the same day; and in
hat way sixty-lour millions of discounts, the amount in Au-
ust, 1833, could he called in, in thirty one month.-, at a legs
ate. than two millions per month, remains to be shown. It it
ipoiblc to show it. The bank has not, in fact, called in ten
illioti.s in six months; and more than what she has called in
as been taken away from her by public and private depositor*.
'he rate of reduction has been less, consequently, than the se-
etary's plan required, and there must be more reduction if the
ink does not mean to defeat the plan of the secretary.
One alternative only is then presented to those who object to
le reductions ot the bank. Either the bank has not yet reduc-
d enough, for she has not been able to (educe her circulation
t all, or the whole scheme is exploded the in.-tant it is subjecl-
d to practice. It is obvious that the only measure which the
ecretary deemed repugnant to the interests of the country was
le extension of discounts by" the bunk, or the continuance of
leir amount as it stood at !; time of the removal. Reduction
/as the agent and the only agent that he intended to use. If
ne plan of the secretary is to be defended and maintained, com-
laints of reduction by the bank, far greater than she has order-
d, will be without color of justification, since far greater re-
lictions will be necessary to effect his plan. If, on the contra-
v, the plan is to be abandoned because it is utterly impraclica-
le, it ought to be wholly abandoned, and the path of wisdom
s well as of justice will then be found in a return to the point
('departure. The fact unquestionably is, that the removal of
lie deposites, the reduction of discounts, and the consequent
eduction of the bank circulation, have been considered witu-
iil the slightest reference to the complex state of pecuniary
elations existing in the country. The whole process has been
egarded as a mechanical affair, of which all the details would
.11 icily come out as necessary results of the first measure. No
.llowance has been made for the consequences of confidence
roken up, of the interruption of that regular series of receipts
and payments, by which the resources of the creditor and bebt-
or are alternately repaired, of exposing to trial, or even to sus-
licion, the fragile virtue of those state banks that are able to
ive upon tiMir reputation merely because it is not questioned,
tnd of attempting to take out of a powerful machine, while it is
n full operation, the wheel that balances and regulates the
whole. No allowance has been made for any of these conse-
quences, by those who have led to their occurrence; and now
when we are surrounded by them, and cannot escape from
hem, even the plan which has caused them is forgotten in the
censure of the bank for conforming to it. -The bank is but tra-
velling in the path which the secretary prescribed, and to which
the removal of the deposites, and the collection of the revenue
:hrough other banks, must inevitably confine her. Her resour-
ces for general relief have been taken away, and given to those
who cannot use them. Her ability to secure the return of what
she lends in the sound currency in. which she lends, is also
gone. The whole country perceives that what is wanted is se-
curity for the future; and while the plan of the secretary shall
be prosecuted in any of its parts, the people will not believe
that a single day of the future is secure. This universal dis-
trust and apprehension, and not the operations of the bank, will
be received by the dispassionate observer as the solution of the
difficulties which now surround us; and whatever will remove
this distrust and apprehension, and nothing short of it, will
provide the remedy. The return of the deposites is, in the
judgment of the minority, an indispensable part of this remedy,
due by public faith to the bank, due also by public policy as a
declaration of peace between the treasury and the bank. But
they cannot regard the mre return as affording the promise of
a radical cure. The eyes of the nation are now intently fixed
upon the currency. If the present bank is not to be recharler-
ed, something to regulate the currency must be provided in its
place. The plan of the secretary gives over the regulation to
state hanks, which will themselves be promoters of the disor-
der. The country requires something which will regulate the
state banks. Until this i* effectually provided, the minority
have no expectation that distrust and apprehension will disap-
pear, however they may be diminished.

VIII. The remaining reasons of the secretary may be classed
under two heads: acts by the bank in violation ot" its charter,
and an act or acts of unfaithfulness in the execution of its duty
to the treasury. Under the first must be included the constitu-
tion of the exchange committee of the bank, the alleged exclu-
sion from that committee of the directors appointed by the pre-
sident of the United States, and the expenditure of money for

64 N1LES' REGISTER MARCH 22, 18 34 -COMMITTEE OF WAYS AND MEANS.

printing and circulating pamphlets. Under the second, no fact
is particularly noticed by tlie secretary, but the case of the
French bill.

1. In relation to all the operations of the bank included under
the first head, it must be answered, that whether the bank has
been right or wrong, her board of directors assert the legal right
to do whatever has been done. Her American stockholders
also, who, with the fullest knowledge of all the circumstances,
have repeatedly elected the same directors, assert the same
right, arid approve the acts which have been done in execution
of it. If these acts are not in violation of the charter, they are
mere acts of administration or management of the bank, which
the United Stales as a stockholder have agreed to commit to
the discretion of the board of directors.

The directors appointed by the president have no veto upon
the resolutions of the board. The president has no such veto.
If the resolutions are lawful, the charter, and all the stockhold-
ers, public and private, as parties to it, must be considered as
Jiaving committed to the directors the entire discretion to make
and execute them. They may have been inexpedient, and if
they have been, the corrective is to be sought in the annual
elections. They may have been deemed inexpedient by the di-
rectors appointed by the president, but if they have been, the
law has determined that they are legally bound by the voice of
a majority of the board. Upon questions of administration
within the legal competency of the board, there is no more jus-
tification of an attempt to tear the bank to pieces, by a pnrt of
the directors, or by the treasury department in support of them,
because the voice of the minority is not respected, than there
would be for an attempt by a state or states, for the like reason,
to sever the union. All the parties to the compact have ared
that questions of administration within the lawful competency
of the legislature, whether of the bank or of the union, shall be
decided by a majority, and if they require correction, that they
shall be corrected by a majority, and in no other way.

Upon the supposition, then, that these measures of adminis-
tration by the bank have been lawful, the minority take it to be
free from doubt, that the secretary's dissatisfaction with them
is not one of the causes which authorised him to remove the
deposites. The management of the bank has not been com-
mitted to the secretary. He has no right whatever to inspect
its management, or even its condition, except in a limited way,
for the purpose of ascertaining the security of the deposites.
To have given him the power of removal in any case, in which
he should deem the management wrong, would have been to
give him effectually the management of the bank in every par-
ticular. The charter removes all such causes from his cogni-
zance by committing the management of the bank to the direc-
tors, under such powers and restrictions as the charter and by-
laws determine.

If, on the other hand, the acts thus questioned are violations
of charter, the objection* to the secretary's act are equally
plain. In the first place, he is not the officer to whom the
charter has confided the authority to direct a prosecution for a
violation of charter; in the next place, it has expressly confided
tbat authority to others; in the third place, the bank is entitled
- to be heard before any judgment of violation is pronounced;
and lastly, that judgment is to be pronounced by the judicial
department only.

The secretary's power to arraign the bank for violation of
charter cannot be asserted. Ft is a power of the most delicate
and critical nature, and the 23d section of the charter commits
It to the president and to congress only. That the secretary
should be iinpliedly authorised to decide the whole question,
and to remove the deposites at once upon that ground, when
the charter does not give him authority to issue a scire facias to
hare the question tried, cannot be maintained. Those who
have authority to direct the prosecution, have no right to try it,
or to give judgment on it. The judicial power is not in con-
gress or in the president, and they cannot exercise it without
themselves violating the charter of the bank, and the constitu-
tion also. The bank is not even charged with violation of char-
ter. When charged, she will be entitled to a hearing; when
heard, she will have the benefit of trial by jury; and when the
first judgment shall have been rendered, she will be entitled, i
it be adverse, to a review in the supreme court of the union
In the mean time, in the sight of the nation and the law, all her
charter rights remain in their original vigor. If the want of suf
flcient time to try the question is a reason for deciding it with-
out trial, it is one that prostrates all the barriers which the con-
stitution has raised between the assertion of arbitrary power,
and the life, liberty and property of the citizens. The spirii
which frowns upon the temperate and deliberate inquiries of
the judicial magistrate, and demands its victim in anticipation
of the tardy and unaccommodating sentence of the law, is nol
the spirit of the constitution, nor of the law abiding people of
the United States.

The bank then has a legal ritjht to .say, as her directors have
said, that she has not been guilty of any violation of charter,
and congress have not the legal right to adjudge the contrary.
If they cannot adjudge the contrary, they cannot lawfully de-
prive the bank of a single privilege or benefit conferred by the
charter, upon the ground that she has lost them by violation of
charter. Every hem-fit of the charter is a right of property, and
it would be infinitely better for the constitution and for the peo-
ple, that congress should at once hold the public deposites to
b< removable without cause, rather than assign the cause of
violation of charter, and enforce the sentence of forfeiture to

the extent of a dollar, upon the ex parte report of a committee.
The minority do not mean, so far as they are concerned, to im-
pair the chartered rights of the bank, by attempting an investi-
gation of the law and the facts before a body that is not consti-
tutionally authorised to try them.

The exclusion of the directors appointed by the president is
nowhere shown to have been ordered by the board, or by the
president of the board. They have not been appointed on cer-
tain committees, and this is all that can be said, and the same
may probably be said of many directors appointed by the private
stockholders. It depends upon the pleasure of the board, and
is a matter of administration. Whether theie was any thing in
the capacity or dispositions of the individual directors referred
to, to make their appointment upon certain committees proper
or improper, it might be deemed invidious in a paper of this
kind to inquire, particularly as it is understood that the senate
of the United States have not advised their re-appointment to
office, and they therefore do not at present stand in the position
of public servants, whose acts require further investigation.

The expenditure of money for printing and circulating pam-
phlets has not been questioned by the stockholders. They have
been fully apprised of it, and they have more than once re-
elected the directors who have authorised it. The right to print
and publish is a constitutional right. It belongs to corporations
as well as to natural persons. It cannot be previously restrain-
ed, and it cannot be subsequently punished, except by the sen-
tence of a court, when it is proved to have been done in viola-
tion of law. If it has been necessary to defend the directors of
the bank from aspersions upon their characters for what they
have done as directors, or to prevent the credit of the bank
from suffering by imputations upon its solvency, or the integrity
of its administration, the charge of the expenditure belongs
properly to the bank, because it is in vindication of the opera-
tions of the bank. As to such expenditures, the stockholders
are 'the ultimate judges, and all the stockholders are bound by a
vote of the majority ratifying the expenditure, as much as they
would be by an order to incur it. The subsequent ratification,
by the re election of the directors who ordered it, is equivalent
to an original command. Whatever printing or publishing has
been done by the bank, has been done openly, without cover or
disguise. It has been done in the asssertion of a right, and the
public have known it. Whether an influence equally public,
and equally innocent, has directed and supported those attacks
upon the bank, which have thrown upon the in.-aiiutron the ex-
pense of resisting them, it does not belong to the minority of
this committee to inquire.

2. The case of the French bill, as upon a claim for damages
by the bank, is not before the committee of ways and means.
If the bank should make a claim upon congress for the satisfac-
tion of that demand, it would probably be referred to a different
committee. It is before the committee of ways and means upon
the question whether the act of the bank in making such a
claim to the secretary of the treasury, is a reason for dismissing
the bank as a fiscal agent of the nation, and the majority of the
committee have decided that it is. The minority are willing to
leave this question to th-e decision of the house and of the coun-
try. It is a principle which, if rigorously applied, will possibly
economize the time of the house, and the labor of the committee
of claims. If it is understood to be the opinion of the house
that every agent or officer of the nation, who makes n claim
upon congress or upon the treasury, deserves to be dismissed
from his office, it will probably put an end to alt claims that are
not thought to be worth more than the office, to the person who
makes them. No one can by possibility doless than the hank has
done in the prosecution of her claim, and therefore safety rs to
be found only, in not making claim at all. This objection doe? nol
unfitly close the test of the secretary's reasons. It is a case in
which there was no agency in the b.ink, and no unfaithfulness
in any one of her steps, from the time when the bill was bought
from the treasury, to the time when it was returned under pro-
test, and the treasury refunded the amount. The bill was
bought, paid for, and duly forwarded by the bank, duly present-
ed, duly protested for dishonor, duly returned, and duly notified
to the treasury department. It was notified with n claim for
damages, in the same manner in which the United States have
for forty-five years notified similar claims to the drawers and
endorsers of dishonored bills, and enforced them also with-
out any exception. If this notification of a claim is sufficient
to deprive the bank of her right to the public deposites, the
minority are not unwilling that the character of the other rea-
sons shall be inferred from that of their associate.

The minority are upon the whole of opinion that none of the
reasons assigned by the secretary in his communication to con-
gress are sufficient to justify the removal of the deposites. They
are also of opinion that it is due to the bank to return them
without regard to the sentiment of the house upon the subject
of recharter. They are further of opinion that the situation
of the country requires immediate action by congress, to restore
public confidence, and to prevent a derangement of the cur-
rency. And they express to the house their settled conviction
that these objects will not be attained if the public deposits
are left in the state banks. They think, besides, that the uni-
versal voice of the country requires that something shall be im-
mediately done for public relief, and that the resolutions pro-
posed by the committee, will only aggravate the existing evils,

nstcad of providing a remedy.

R. H. WILDE,
BEN. GORHAM.
HOR. BINNEV.

FOURTH SERIES. Na. 5 VOL. X.] BALTIMORE, MARCH 29, 1834. [VOL. XLVI. WHOM No. 1,175.

THE PAST THE PRRSEITT FOR THE FUTURE.

EDITED, PRINTED AND PUBLISHED BT H. JflLES, AT $5 PER ANNUM, PAYABLE IN ADVANCE.

The reply of the Baltimore committee to Mr. JVLcKim'a
address, published in our last paper, will be found in the
present.

The proceedings of a great meeting held at New York
a few days ago, with the report of the "union committee"
raised on the llth ult. fill a large part of our sheet. We
had nearly resolved not to enter upon the publication of
any more long articles on the subject to which this re-
port refers but the importance of the facts generally
offered, and the power with which they are presented
to the public mind, have caused us to regard it as a do-

cument of great value, for present or future use.
the work ot Mr. Gallatin.

It is

On Monday last, 24th inst. the people of Baltimore
were thrown into a state of high excitement by the pub-
lication of the following notice, in two of the morning
papers of that day:

TO THE PUBLIC.

Bank of Maryland. 24th March, 1834.

The board of directors of this institution have ascertained,
with surprise and deep regret, equal to any that the community
will feel, that this institution is unable to proceed with its bu-
siness, and they have resolved to transfer all its effects to a
trustee, for the equal benefit 01 the creditors of the bank.

The board of directors hope and trust that the assets will be
sufficient to discharge the debts of the institution, and their de-
termination to stop its business at once, is from a conviction
that to continue it longer would only be attended with loss to
the community. Their advice to the creditors, founded upon
the best judgment they are now able to form, is, not to sacri-
fice their claims. The debtors of the institution will hnve the
privilege of paying their debts witb the notes and certificates of
deposite, and the open accounts due by the bank, and these
alone they hope will enable the note holders and depositors
speedily to realize nearly all if not the entire amount of their

small deposites were fclso withdrawn but the resource*
of the bank were ample. On Tuesday there were light
demands on most of the banks, and a considerable press
again at the Union but the alarm rapidly subsided,
and, perhaps, the specie in the banks, (generally) that
evening, was greater than it had been before the "run"

credits. By order,

R. WILSON, catfiier.

[This notice was left at the offices late on Sunday even-
ing, the 23d, though dated on the 24th.]

When this news reached the morning steamboat for
Philadelphia, some of the intended passengers rushed
on shore, "as though she had been on fire," as a gentle-
man present remarked to us and, by 8 o'clock, A. M.
South street, (in which the bank of Maryland is, or was,
located), was filled with an anxious and distressed mul-
titude, some of whom were females! The crowd in-
creased but 9 o'clock arrived, and the door remained
shut. This batik had heavy deposites on certificates
bearing interest, and we think it probable that a larger
amount of its notes were in the local circulation than
the aggregate of all the rest of our banks, though its ca-
pital was only 300,000 dollars! and it is very possible
that from 25 to 30,000 dollars in its bills were paid
away, in wages to working people, last Saturday even-
ing, when they were offered and received in good faith!
A large crowd remained before the door until even 10
or 11 o'clock at night, chiefly of the poorer classes of
the people; and yet, to their lasting honor be it said, no
act of violence was attempted, though "curses loud and
deep" were uttered against "the experiment" which is
now going out As soon as the other banks opened,
"runs" were made upon them all, for small sums in coin
which were promptly and good-humoredly satisfied;
and hundreds of persons were seen in the streets carry-
ing-on" parcels of specie. The press at the Union bank
was by far the greatest there was a constant crowd be-
fore the door until about 4 o'clock, when, all who pre-
sented a claim against that bank being quieted, the
doors were closed and the people retired, peaceably.
This is the deposite bank; but, like the rest of the hanks
of this city, (except the Susquehannah and the Mary-
land, which have failed), had a small and well-guarded
circulation, compared with its means; but a belief was
generally, (though erroneously) entertained, that it had
some close and intimate connexion with the bank of Ma-
ry land, and would be involved in a common fate. A few
VOL. XLVI SIB. 5.

commenced, many persons who held quantities of coin
freely depositing it and the office of the bank of the
United States behaved nobly, being willing to extend the
use of its means on the emergency for the demand on
this bank was insignificant; and, at some of the other
banks, " Uncle Sam's money" ica preferred to coin'
On Wednesday, though many gloomy i'aces were seer*
in the streets, there was no general excitement extra
demands for coin were still made; but many returned on,
deposite that which had been previously withdrawn.
Some engagements were violated, however, that would
have been kept, if the bank of Maryland had not stop-
ped payment; but the amount was not large. On Thurs-
day extra demands for specie were still made but no
new difficulty has since occurred, or is just now expect-
ed so far as we are informed.

The bank of Maryland had an extraordinary circula-
tion! and enjoyed an uncommon degree of the public
confidence; perhaps, for one reason, that its stock, the
par value of which being only 300 dollars, was steadily
quoted in the newspapers at 500 dollars! This may be-
come a subject for future remark for it presented an
appearance of things which had no substantiality in it.
But this bank held a large amount of the money of wi-
dows and orphans, small dealers and thrifty persons, me-
chanics and others, for interest was allowed even on tran-
sient deposites; and the manners of the president were
popular, and his accommodations liberal. Perhaps the
failure of any other three of our local banks would not
have so immediately affected the classes of society refer-
red to all the means of many being lost to present use,
unless sold at ffty per cent, discount. We have heard
of many cases any one of which is enough to make a man's
heart ache but "perish credit" is proclaimed in con-
gress, and "the experiment" is to be persevered in by
"the government." We lost nothing by this bank.* It
was manifest to us that the circulation of its notes was
violently forced; and, since the "experiment" began, we
steadily, but quietly, acted towards that bank as though it
might fail within the next twenty-four hours and if one
or two of our friends, to whom we confidentially, (and for
theirownuse only), stated our fears > had acted upon them,
they would have been belter off than they are; but no-
thing had openly happened that could have justified us in
throwing those fears before the public and no disposition
existed to injure the credit ef the bank, or embarrass its
operations. A good deal could be said on these matters,
but we shall refrain.

The effect of this failure is yet to be seen. Those who
have charge of hs affairs ought to publish an exact state-
ment of them as soon as possible, and, no doubt, wit) tfo
it. The notes of the bank, and the certificates of depo-
sites issued by it, it is posted up at some of the brokers'
offices, will be exchanged at 50 per cent, loss to the hold-
ers of them! But it is expected that all these, at least,
will be ultimately paid; and more may be done, if the
debtors of the bank do not give way.

There is a large amount of bills issued by the "Union
bank of Tsnnessee," made payable at the bank of Mary-
land, in circulation. We think that the Tennessee bank
cannot be held accountable for the amount of these bills
unless they are formally protested, the demand at the
bank of Maryland not being satisfied.! These notes, as

'Being also sorry to Bay thai we have but little "money," just
now, to lore!

fThe (B8ltirnre) American of yesterday says We kwiK.
from an unniwikmable source, that large remittances from the
Union bank of Tennessee have been received witlyj&afcw <teys.

NILES' REGISTERMARCH 29, 1834 MISCELLANEOUS.

well as those of the last named bank, have a wide "range
in th south and west.

We shall close this article by taking leave to say, that,
in our serious opinion, the Baltimore banks, (with llie
exception of the Susquehai.nah bank and the bank of Ma-
ryland), are in as good a condition as those of any other
c'fty and that we regard every one of them trust -worthy.
If we thought otherwise, we dare say it and, surely,
would not mislead any o.ie on this subject. We have a
great stake in the soundness and uniformity, and suffi-
ciency, of the currency; but no other particular interest
in any bank than proportionally belongs to those who trap
beaver in the regions beyond the Roeky Mountains. We
do not hold one share of bank stock, nor feel ourselves
under a sense of favor to any bank. Our litile account
has been kept in the Uniiin bunk of Maryland many-
years, without a single jar or hard thought, so far as we
know, between the parties and it will yet remain in that
bank, only regreltii.g that the balance on our side is very
small, iii this season of pressure, excitement and peril.

In the afternoon of Monday, the following was pub-
lished

At a meeting of the officers of the several banks of ihe city,
conveued at llie Union bank of Marylarid, in consequence ol a
n.mce luceivcd from the piesident of tbu Union bank ul Mary-
land, to t.iki: into consideration the state of affairs arising from
tin- cl'isiiij.; of tin.' biiMwss of the hank of Maryland, the follow-
ing presidents and cashiers were present:

William Lonnan, president of the bank of Ballimoiti.

Philip Moore, of llie Fianklin.

Wm. tiohn, of the Coiniu.rciul and Farmers.

Nicholas .Price, of the Fanners and Merchants.

Wm. If. Murray, cashier of the Mechanics.

J. Kier, cashier of llie Marine.

William Lorman was called to the chair, and W. Bric.c acted
as secretary. Amongst other proceedings the following took
place.

The president ( the Union brxnk informed ihe mei-'tinjr that
the bank of .Maryland li.ul made a deed of trust, which they
were prepared to deliver, conveying all the property of the.
bank to him in trust, for the pnnerul and equal benefit of its
creditors that he had nut as yet read it, nor accepted it, and
declined doing so without the advice and concurrence of the
other hanks interest! d in the distribution of the funds, and that
this meeting was called to lay the subject before them for their
direction concerning it.

It was then by the meeting, unanimously resolved by the pre-
sidents and cashiers present, that in their opinion it is advisa-
ble that Mr. Ellicott accept the deed of trust proposed by Ihe
president and directors of the bank of Maryland, and that they
therefore unite in recommending him to do so. it being under-
stood among other tiling* of detail, that the different banks shall
trijin time to lime hi: informed of the progress of the trust, and
that their several officers shall have free access to every infor-
irmtion that they may require until its close.

And on Tuesday afternoon the following, addressed to
the public by the president of the bank of Maryland, and
to the editors of the newspapers by the trustee botli
which had a cheering effect, especially the last:

TO THE PDBLIC.

In consequence of the extreme pressure upon the money
market, and the unprecedentedly severe demands upon the
bank of Maryland, I regret deeply, with my fellow citizens, that
it has been compelled to stop its business.

The suspension has been sudden because it has occurred at
nt the very first moment it appeared that the interest of the cre-
ditors of the bank required it if efforts had been made to sus-
tain the credit of the institution at the expense of heavy sacri-
fices of property, the result would have still been questionable,
but the certainty of loss would have occurred. Under all cir
cuin.-tancc.-, it has been deemed best by the soundest judgment
to which we conld have resort, to adopt the course which has
been adopted, viz: to place in the hands of a suitable trustee,
under the direction of the honorable Stevenson Archer, and the
honorable Thomas B. Dorsey,or such person or persons as they
may appoint, all the effects of the bank, to be kept together.
collected and faithfully distributed among the creditors, a
speedily as it can possibly be done.

My confident opinion is, that the bank is able to pay all its
obligations, but to obviate any difficulty whatever, and to -"ati--
fy the holders of the notes and the special certificates of the
bank, I hereby pledge my whole private estate, whether real,
private, personal or mixed, to redeem any deficiency that the
means of the bank may by any possibility ho unable to redeem.

afar.* 85, IBM. EVAN POULTRY.

for the redemption ot its notes made payable at the bank of Ma
ryland, and that thHse f.md-1 have been forwarded to Philadel
phia. I is potable that nrrH IH;l .ments will goon be made for
their proper application in Baltimore.

Von are requested to state in your paper, for the information
of all parties who have notes or other securities deposited for
collection in the bankof Maryland, that they will have the same
returned to them on application to 11, Wilson, eaq. cashier,
)rovided that such notes or securities have not been deposited
is security, or the depositors thereof are not indebted to the
bank on notes, bills, or other iwponsibilitiei which have be-
come due or otherwise such notes not being considered as any
part of the assigned fund. THO. ELL1COTT, trustee.

It would be well, indeed, if the enemies of the hank of
the United States would agree upon some course for that
institution to pursue! In the first place, its ability to meet
its engagements was doubted by the highest authority
and now, by the same party, its power to maintain itself
subjects it to be called by many hard names. In the se-
cond, when, because the business of the country was large,
and the general price of commodities high, requir'nig a
greater sum in money to carry on the exchanges, it was
charged with a design to corrupt the people by the libe-
ralitv of its accommodations and, though four or five
years ago, as appears by the president's messages, the
lime had arrived when it should look to a closing of its
concerns, it is abused for causing the present pressure
on the people by the curtailment of its discounts. In the
third, it is said that such curtailment is wantonly oppres-
sive, and yet the sober Tact is that the reduction does not
exceed the reduction of its deposites. In the fourth, it
is blamed for making money scarce, though its circula-
tion lias been increased about two millions, which is as if
added to the specie of the country, to enable the state
banks to pay their debts ! In the fifth, it is imperiously
said that it must and shall wind up its affairs, and then it
is denounced for retirements from its discount line which
have a less amount than the retirements from the line of
its deposites. In the sixth, it is threatened, in "high
places," with "runs" for payment of its issues, and abus-
ed, in the same, because it holds on to its coin to satisfy
all reasonable or unreasonable demands upon it ! So we
might pass to the fiftieth place, and present similar con-
trasts. NVill it please those in power to lay down some
course for the bank to pursue, that the people may he re-
lieved of an oppression which we really fear may make
them "mad?" For the old proverb says "oppression
maketh a wise man mad."

Considerable political importance has lately been at-
tached to the ward elections for constables in the city
of Philadelphia. At that held last year 11 "Jackson"
and 4 anti-Jackson men were chosen; but at that held on
the 20th inst. 13 anti-Jackson and 2 Jackson men were
chosen; and similar changes have been made in some of
the adjoining districts. For instance, the Jackson can-
didates were defeated in each of the four wards of Spring
Garden. It would be difficult to describe the excitement
which prevails in Philadelphia and its neighborhood. It
may, however, be partially esteemed from the fact that,
by .the lowest calculation, 25,000 men of the city and county
assembled^ with banners, in Independence Square in the
afternoon of the 20th instant, and passed certain resolu-
tions, &c. some account of which must be recorded; but
we cannot make room for it this week.

We have recently heard a great deal about "panic
makers;" but gov. Marcy, of New York, in our humble
opinion, has done more than any other person to make a
panic by his message to the legislature of the state on
the 23d inst. which, we regret, cannot now be inserted.

After speaking of the "rapid curtailments" of the dis-
counts of the hank of the United States, and manifesting
much hostility towards that institution, and assigning,
also, several other reasoi.s for the pressure on the money
market, and saying that the safety fund banks have re-
duced their circulation three millions of dollart since the
1st of January lant! he proceeds to the consideration of
other subjects, and proposes, as the best means of obtain-
ing relief, the creation of a state stock of four or five
millions, to be loaned to the state banks in the city of
New York (for which he thinks money may be borrowed
in Enrufit;\ that these banks may relieve the other banks
ot the state, etc. which the deposite and use of several
millions of the canal fund, with the deposites of the U.
States, has not been able to accomplish !

NILES' REGISTER MARCH 29, 1834 CONGRESS.

With a resort to the trial of such remedies, the pros-
pect a-head is really awful.

It is now understood that the United States deposites
in the Girard bank, at Philadelphia, will be given up.
At a late meeting of the stockholders, the noise being on
one side, some sober citizens thought, and the shouting
ones believed, that the question was doubtful, if not decid-
ed according to thenprouriousness of the latter parly; but
the other side took sure and quiet means they opened
a paper, and invited subscribers; and it now appears that
17,500, out of the 30,000 shares, have been signed for, to
give up the dcposites; and it is well known, (say the Pbila-
phia papers), that several thousand shares are not availa-
ble for uses of this kind bo-ing held, perhaps, in distant
places, or in Europe. It is added, that the officers of the
bank approve the measure, though they have not taken
any part in bringing it tibont. From this it appears that
ft very large majority of the stock is in the hands of per-
sons opposed to the removal of the deposites, though
placed in their own bank as was the case in Virginia
and, perhaps, would be elsewhere, if the matter was fairly
tested.

The Philadelphia Gazette asserts that 8,000 shares are
held by persons in Europe, and 2,000 by the directors,
and 20,000 by the citizens so that of those who have
acted on the present occasion seven-eighths are for giving
up the deposites.

The official "Globe" of Monday, speaking of the Gi-
rard bank, says '"That bank ought, and no doubt will,
in pursuance of its contract, be required to pay every dol-
lar of deposite on hand the moment it refuses to receive the
accruing revenue. Not the indulgence of a day, nor an
hour, should be given to an institution which deserts the
post it has voluntarily assumed," &c. and then suggests
that the deposites may be removed to New York ar Bal-
timore, or locked up in the vault of the custom house.
Tlte spirit of this article is of a horrible kind. An exer-
cise of the right of opinion, and by those most interested,
is to be followed by swift ruin, if possible, for desertion!
Why was not the batik of VIRSINIA so threatened? But
the agreement between the secretary of the treasury and
the new deposite banks, left each party free to retire from
the contract, at discretion, the secretary being required
to give reasonable notice of his intention to remove the
public money. "JVoits verrons!"

In our congressional proceedings will be found a brief
abstract of a speech of Mr. Clay, in the senate, on the
25th inst. respecting the Union bank of Maryland, in
which Mr. Taney is a stockholder, Sec. with a copy of a
note published by the directors of the bank appended.
Intending to present all such tilings fully, we think it
right to add, that the "Globe" of the 27th has an article
saying, that, for some time past, Mr. Taney had held,
and held when the deposites were removed, "six or
seven" thousand dollars of stock of this bank that, on
this account, he requested the president himself to select
the deposite bank in Baltimore, saying "however" that
he thought the capital of the bank of Maryland was too
small to make it a suitable depository that he has not
bought or sold any bank stock since the removal of the
deposites that he never was a director in the Union
bank, though once elected, without his knowledge that
no treasury draught has been given to the Union bank
since October last, and that this bank had not asked the
aid of the department to sustain it 'that the secretary
has never doubted, and does not now doubt, that the
Union bank is perfectly able to sustain itself against any
attempts that may be made against it.

In the same degree of fairness it is proper to observe,
that it was commonly said and currently believed, that
Mr. T. held 25,000 dollars worth in the stock of this
bank, and that the aid spoken of had been afforded.

Orj=Since the preceding was written, we have seen the
following in the "New York American" of the 2Gth, as
an extract of a letter from Baltimore, speaking of the
'bank of Maryland" and also an article of the same
purport in the Commercial Advertiser of the same date

"This bank has been circulating vast numbers of its notes in
the west; last week a draught from the west for $150,000 was
presented through the branch bank the president, Poultney,
asked one (fay. It was granted an express was sent to Mr.

Secretary Taney, who drew on the branch fur $200,000, thui
the draught on the Maryland bank was paid, and the other
$50,000 wore deposited in the pet bank, the Union, which has
done every thing in it* power to sustain Poullney'g bank, but
nil in vain, tliou^li aided by the government ill Hie bum of
150,000."

And the "Commercial" observes '"There are cir-
cumstances connected with the failure of the Bank of
Maryland, which will require an immediate investiga-
tion by the senate. The bank of Maryland was latterly
a political b:mk. Having extended itself, through the
patronage of the government, it has at last met the coil-
sequences of a dependence on executive wisdom and in-
terference with the currency," i*cc.

We [Register] had not before heard any thing of this
transaction* but, if the facts stated are true, it will only
shew that the likeness of the names of the bank of Ma-
ryland and of the Union bank of Maryland, has caused
another mistake the latter having been charged with
making a loan of $50,000 to Mr. Barry, P. M. G. which
had been made by the iormer.

TWENTY-THIRD CONCRESS-FIEST SESSION.

SENATE.

March 21. After some other business

Memorials were presented by the following member! praying
for the restoration of the deposites, &.C. by Mr. Clay from up-
wards of 3,000 persons, clerks of mercantile men, and others
engaged in trade, in the city of New York; also by the same
from a large number of traders from ten different slates on the
valley of the Mississippi, who happened lately to be in Phila-
delphia, laying in their stock of goods for the season; five by
Mr. Southard, one from three of the banks of New Jersey, and
the others from the counties of Monmouth, Gloucester and Huu-
terdon; and three by Mr. Kent, from the banks of Frederick and
Washington counties. All which were severally read, referred,
to the committee on finance and ordered to he printed.

Mr. Ewiny submitted the following resolution:

Resolved, That the committee on (he post office and post roads
be instructed to examine and report upon the present condition
of the post office department, and that they have power to send
for persons and papers to take testimony for that purpose; and
that the secretary of the senate shall, on application of the com-
mittee, appoint a clerk lo attend them.

[This resolve lies on the table.]

The chair communicated a report from the state department
shewing the number of American seamen registered up to the
last quarter of ilje year 1833.

The senate then proceeded to the consideration of the order
of the day, being the bill to continue for a limited time, tbe
charter of the United States bank; when

Mr. Callioun addressed the senate at large upon the question!
brought into view hy the bill. After he concluded, Mr. Benton
addressed the senate, until near 4 o'clock, when, without con-
cluding, having yielded the floor, the senate adjourned.

March 22. Mr. Poindexter presented the petition of John
Cumrnings, of Oliio, praying to be relieved from lossea sustain-
ed by him in consequence of a fraud committed by one of the
United States land officers; which was referred to tile commit-
tee on public lands.

Mr. Webster presented the proceedings of a large and respect-
able meeting of the citizens of Franklin county, Pennsylvania,
also a memorial from the inhabitants of the same county signed
hy upwards of 1,800 voters, complaining of the distress caused
by the experiment of the government, and asking a restoration
of the deposites, &c. Mr. W. in presenting the above made
some eloquent remarks descriptive of the character of the sign-
ers of the memorial, the productions of the county, and of their
depreciated value, &e.; and amongst other things stated that it
contained 10 or 12 forges; that there were upwards of 4,000 pel-
sons engaged in the manufacture of iron; that, in addition to
these manufacturers, there wrre others engaged in paper mak-
ing; that all had been compelled to dismiss or decrease their
hands; that the agriculturists had also comn in for their share
of loss; that corn and rye could hardly be got rid of at Cham-
bersburgh ,tt any price; the loss on wheat, the great product of
the county, wns 30 cents per bushel; and that clover seed ano-
ther great product, had fallen from 46 1 -IN P^r bushel.

Mr. Forsytfi presented the memorial of 300 citizens of Peters-
burgh, Va. approving the removal of the deposites.

Mr. Leih boro testimony to the respectability of many of the
signers of the memorial, but doubted whether there were as
many as 300 voters in Petersburgli; he then presented the me-
morial of the citizens of Princess Anne county, Va.

Mr. JlolMns presented two memorials against removing the
depo-=ilps, one from Newport, the other from Smithfield, R.
[sliuirt. The above proceedings and memorials were severally
rend, referred and ordered to be printed.

Mr. E>Hn reported a bill to settle the boundary line of the
state of Ohio, which was read and ordered to a second reading.

*Nor as yet (Fiiday evening) have we heard the stalemnt
either affirmed or denied. We have, however, rensons to be-
lieva that the whole is a mistake, as to rime and circumstance! ,
at least.

NILES' REGISTER MARCH 2-9, 1834 CONGRESS.

The senate then proceeded to the order of the day, being the
leave on Mr. Webster's bill for continuing the charter of the
bank of the United States, when

Mr. Benton resumed his remarks, and concluded about a
quarter past 3 o'clock; when

Mr. White rose and said he wished to express his sentiments
on this question, and would do BO then, or on Monday next as
might be the pleasure of the senate.

Mr. Wright stated there was much business of an executive
nature before the senate, and expressed a wish that the senator
from Tennessee would defer his remarks till Monday. After
some remarks by Messrs. Clay and Webster, on motion of Mr,
Wright, the senate went into executive business; and after the
doors were reopened, the senate adjourned.

March 24. Mr. Webster presented a memorial signed by 900
inhabitants of the town of Lynn, Mass, remonstrating against
the removal of ilia deposites, and prnying for their restoration
to the bank of the United States. Mr. VV. said that the town
of Lynn was beautifully situated, is highly industrious, and
had been hitherto prosperous and flourishing. With a popula-
tion of 8,000 souls, its great business was the manufacture of
hoes; that 3,000 persons, men, women and children, are en-
gaged in this manufacture. They make and sell ordinarily, two
millions of pairs of shoes a year, for which, at 75 cents per pair,
they receive 1,500,000 dollars; that they consume half a million
of dollars worth of leather, a large portion of which was pro-
cured at Philadelphia and Baltimore. The largest number of
votes ever known to have been given in Lynn was 1,060, and
900 had signed the memorial. He staled that the manufacturers
of Lynn sent their articles to every state in the union; for the
proceeds of the sales they draw their bills on lime, discount
them and receive the cash. They had heretofore found no dif-
ficulty in caching their bills at three fourth* of one percent.
though drawn on the most distant places. But the executive
government has broke up all this, and these manufacturers sell
their bills now at a discount of three per cent., thus losing two
dollars and a quarter in every hundred by losing Hie former fa-
cilities of exchange. Jn the present state of things, the manu-
facturers are unwilling to buy stock, and afraid to enter into any
new engagements. They cannot therefore employ labor as for-
merly, and a slate of confusion and embarrassment has conse-
quently ensued. Three hundred hands have been dismissed
from employment, sines the date of the memorial, and others
must be dismissed. "When (asked Mr. W.) will this foolish
experiment be abandoned?" All men may commit errors, but
wise men. and candid men, will retracl them, so soon as they
see them to be errors. They will not adhere to errors in spite
of experience, and grow more obstinate and more angry, in pro-
portion as that error becomes more and more manifest. The
country, said Mr. W. must be saved; and the people must save
it by compelling those who have adopted ruinous measures to
retrace their steps.

The memorial was then referred, and ordered to be printed.

The chair presented the proceedings and resolutions of a
meeting held in York county, Pa. approving the conduct of the
executive in removing the deposites from the bank of the Unit-
ed States. The chair stated that this was a printed paper trans-
mitted to him by the committee appointed by the meeting; thai
it was the same paper which had been presented to the senate
ome days since, with the exception of the preamble which had
been expunged, and which the senate had refused to receive.
The committee, (the cAair said) had expressed their regrets
that they were not authorised by the meeling lo make any al-
terations in the proceedings; and the senate would, therefore,
be left to decide whether the paper was proper to he received.

Mr. Clay inquired of the chair whether the paper was couch-
ed in respectful language, and such as was proper to be pre-
ented to the senate?

The chair would not undertake to decide that question.

The reception of ihe paper was then opposed by Messrs.
Clay, Webster, Calhoun, Poindexter, Ewing and Southard, and
seconded by Messrs. King, Wright, Preston and Kane.

The ground on which the reception of the paper was resisted
was, that it was incumbent on every person, under the rules
which govern deliberative bodies, in presenting a paper, to state
that its language was respectful, ami such as might be received;
and that the cAatr had expressly declined giving any statement
as to the contents of this paper.

On motion of Mr. Frelinghuysen the paper was then Inid on
the table.

The senate resumed the consideration of Mr. Webster's bill
to continue the charter of the bank of the U. Stales, when

Mr. White, of Tennessee, addressed the F enate until half
past 3 o'clock, without coming to a conclusion, when he yield-
ed the floor and the senate adjourned.

AfrcA25. Mr. Mangum presented a memorial from HIP vil-
lage of Wilkesboro, in the western part of the state of North
Carolina, complaining of the violation of law and assumption
of power by the executive, in the removal of the deposites. On
the authority of a letter he slated that nin* tenths of the me-
alists had recently been Ihe friends of the administration
and tn favor ofgeneral Jackson.

He also presented a similar memorial from the citizens of Ha-
lifax county, North Carolina. Both memorials were read and
rcfcrren.

Mr. Clay rose and .aid that he had heard, and he presumed
that every member of the lenate had heard, that yesterday the

bank of Maryland, situated in Baltimore, had stopped payment.
He stated further, that he had heard, that, in consequence of a
connection, supposed or actual, between that bank and the
Union bank of Maryland, one of the banks selected by the trea-
sury department as a depository of ihe public revenue, Ihere
was, yeslerday, a run on the latler bank to obtain metallic cur-
rency for the paper in their hands. The connection between
the two banks seemed so intimate, that great danger was appre-
hended as to the stability of the Union bank. He also staled
lhat by ihe official returns made by Ihe treasury department, it
appeared that the secretary of the treasury was a stockholder to
a considerable extent; that he had heard' the slock held by the
secretary in that institution constituted a considerable part of
his property. He expressed a hope it would turn out that the
Union bank was in a safe condition, and lhat there were no
just grounds for the apprehension which existed as lo jis safety,
and hoped it would also appear that the secretary of ihe treasury
was not a stockholder in this bank to any extenl which would
authorise an impression tlmt he had suffered his own interests
to enter into the considerations which led him to select tbia
bank as one of the depositories of the public money.

He had also heard this morning that a treasury draught or
treasury draughts, to the amount of.150,000, had, in ihe courts
of a few days, been furnished to the Union bank of Maryland,
by the secretary of the treasury. He, therefore, considered it
the official dut* of ihe senate lo inquire into the facts, whether
there was any danger to the public interests likely to result from
the circumstance of the public money being in that institution.
And to that end submitted the following resolution:

Resolved, That the secretary of the treasury be directed to re-
port to the senate what amount of public money is now on de-
pome in the Union bank of Maryland, and on what account it
was deposited; and whether any treasury draughts, contingent
or other, have been, during the month of March, 1834, furnished
to the said bank, to enable it to meet any demands which might
be made upon it.'

This motion lo consider the resolution requiring the unani-
mous consent of the senate-
Mr. Forsyth objecting, it was laid over until to-morrow.

Mr. Clnyton presented certain resolutions of a large public
meeting of silversmiths, watchmakers, jewellers, &.C. of the city
of Philadelphia, praying for the restoration of the deposites
which was read, referred and ordered to be printed.

The senate then look up ihe bill fur the continuation of tire
Cumberland road in the states of Ohio, &.c. as in committee of
the whole, which, after being amended, was laid on the table.

The senate next proceeded to the consideration of the special
order, being the leave asked by Mr. Webster to introduce his
bill continuing the charier of the bank of the United States:
when

Mr. White resumed his speech and concluded at 4 o'clock:
when

Mr. Clay obtained the floor, bpt yielded to

Mr. Webster, who rose and said, that he had seen with regret
a disposition to enter into a wide debate upon the whole merits
of the conduct of the administration, upon a mere motion for
leave to bring in a bill; the effect of which course of proceeding
would be, to put off the vote on Mr. Clay's resolutions. He
could not concur in promoting that object, and as he had now
answered his own purpose, which simply was to present a spe-
cific measure for Ihe consideration of congress and the country,
he should move to lay it upon the table, that Mr. Clay's resolu-
tions might be acted on, and accordingly moved thai his motion

*The Union bank, on ihe 26th inst. after quoting Mr. Clay's
speech, of which the preceding is a brief abstract, issued the
following notice:

"There is no foundation whatever for the rumor that any other
connection has ever existed between ihe bank of Maryland and
the Union hank of Maryland, than has existed between the
Union bank of Maryland and other banks in the city of Balti
more.

"It is not a fact lhat, 'in consequcnre of any (supposed) con-
nection between the Union bank of Maryland and the bank of
Maryland, a treasury draught or treasury draught? to the amount
of $150,000 (or forany other amount), have, in Ihe course of the
last few days, been furnished to the Union bunk of Maryland, by
the secretary of ihe ireasury:' No such draughts having been
received aince Oclober lasl. Nor has Ihere been any occasion
for such funds; ihe means of the Union bank being amply suffi-
cient to discharge all the claims against it, as they may be de-
manded.

"The board feel reluctanl thus to appear before the public; but
find themselves compelled to do so, by a sense of duty to the
stockholders, at a time when unfounded rumors are in circula-
tion, in prejudice of the institution.

(Signed) THOS. ELLICOTT, president.

LUKE TIERNAN,
HENRY PAYSON,
WILLIAM E. MAYHEW.
JAMES CAMPBELL,
JOHN H. B. LATROBE,
JOHN Q. HEWLETT,
DAVID M. FERINE,
ISAAC TYSOV,
THOMAS A. \ORRfS,
WILLIAM F. MURDOCH."
[See also page 67.J

NILES' REGISTER MARCH 29, 1884 CONGRESS.

or leave be laid on the table, giving notice that he should agair
call it up on the first Monday in May.

Mi. Forsyth asked for the yeas and nays; which were order-
ed; and the question was taken and decided as follows:

YEAS Messrs. Black, Calhoun, Clay, Clayton, Evving, Fre
linghuysen, Hendricks, King, of Geo. Mangum, Moore, Nau-
daiii, Poindexter, I'orter, Premiss, Preston, Kobhin*, Silst'ee
Smith, Southard, Sprague, Swift, Tomlinsori, Wagguman, Web
ster 24.

NAYS Messrs. Benlori, Brown, For>>yth,Grundy, Hill, Kane,
King, of Alabama, Morris, Robinson, Shepley, Tallinadge, Tip-
ton, White, Wilkins, Wright 15.
So the motion wan laid on the table.
Mr. Clay then asked if the senator from N. York, Mr. Wright,
desired to say any thing on the subject of hi* resolutions, if not
that he should say a word or two in reply to those who had spo
ken.

Mr. Wright answering in the affirmative, the senate adjourn-
ed.

March 26. Mr. Southard presented the proceedings of a meet-
ing of 5,000 young men of Philadelphia, opposed to the course
of the secretary of the treasury in removing the deposiles.

Mr. Preston presented the proceeding of 4,627 young men of
the same place, in favor of the restoration of the deposites.

The special order of the day, being the report of the commit
tee on finance on Mr. Clay'i resolution upon the removal of the
deposites, was then taken up, and

Mr. Wright rose and spoke at large, sustaining the secretary.
When he had concluded,

Mr. Clay obtained the floor, and intimated that if it was the
wish of any gentleman to address the senate, he would yield
the privilege. No senator rising, Mr. Clay moved an adjourn-
ment, but gave way to Mr. Poindexter, upon whose motion the
senate went into executive business; and after some time spent
therein adjourned.

March 27. Mr. King, of Geo. presented a memorial signed
by about 400 persons, citizens of Augusta, Georgia, praying for
the restoration of the deposites to, and for the recharter of, the
bank of the United States.

Mr. Clay presented a similar memorial from the citizens of
Lexington and the county of Fayette, Kentucky, signed by up-
wards of 1,200 persons.

Mr. Clay, in presenting the memorial, said, that the memorial
ists were composed of numbers of his friends and neighbors;
some of whom he had known for forty years by individuals
embracing all the various callings of life, mechanics, manufac-
turers, farmers, merchants, and the great body of men of busi
ness of those places.

It was true that the memorialists did not speak of any great
present pressure in their portion of the country; they spoke of
the approach of great distress, and expressed their apprehen
sions that it would increase.

After paying them an eloquent compliment, he said they had
their apprehensions excited by what they deemed an assault on
the constitution and laws of the country. If, said he, there be
a spot in the union liktly to be exemptfrom the calamities that
had afflicted the others, it would he that region aliont Lexing-
ton and its immediate neighborhood. Nowhere, to no other
country, has Providence been more bountiful in its gifts. He
stated that it yielded from 60 to 70 bushels of corn to the acre;
but there were 6,000 lal bullocks remaining unsold because the
butchers could not obtain the usual facilities from the banks to
purchase thus $100,000 worth of this species of property re-
mained on hand.

The above memorials were read, referred and ordered to be
printed.

Mr. Webster gave notice that he would call up his bill extend-
ing the charter of the bank of the United States, on the 21st of
April.

Mr. Wilkin* presented the proceedings and resolutions of a
meeting of citizens of the town and county of Beaver, Penn
sylvania, praying for a recharter of the hank, with certain mo-
difications, foi a restoration of the deposites, and disapproving
of the late message of governor Wolf, commending the con-
duct of Mr. Duane, and censuring that of Messrs. Wilkins and
McKean.

Mr. Wilkins paid it gave him pleasure to present these pro
ceedings, though they rapt him arid his colleague over the
knuckles, and though he dissented from their opinions.
The proceedings were referred and ordered to be printed.
Mr. Wilkins, reported the army appropriation bill without
amendment.

The senate then proceeded to the consideration of the report

of the committee on finance on Mr. Clay's resolutions, when

Mr. Clay arose and addressed the senate, and, after speaking

two hours without concluding his remarks, IIP gave way to a

motion to that effect, and the senate adjourned.

HOUSE OF REPRESENTATIVES.

Friday, March 21. Various bills of a private nature being re-
ported and disposed of.

The bill to continue the Cumberland road from the Missis-
sippi river to Jefferson, in the state of Missouri, and the bill to
continue the same road from Vandalia, in Illinois, to the Mis-
sissippi river, were read, respectively, and referred to the com-
mittee of the whole house on the state of the union.

The resolution of Mr. Aforrfi? was further discussed by Mr.
B urges, until the expiration of the hour, and then the considera-

tion of the report of the committee of ways and means, 4.C. was
taken up.

Mr. Gilmer, of Geo. then addressed the house in opposition
to a restoration of the deposites. and concluded at half pant 2
o'clock, when no motion of Mr. Clay, the house adjourned.

Saturday, March 22. Motions were respectively made to sus-
pend the rules of the house to take up certain bill*, which fail-
ed, or were withdrawn.

The bill to return the duties on certain pieces of sculpture,
the capitals of the columns of the exchange at Philadelphia,
was then read the third time, and rejected by a vote of ayes 45,
nays 135; and the house adjourned.

Monday, March 24. The order of the morning being the
consideration of the Virginia resolutions, the house took up
the same, when, Mr. Pinckney, who had the floor, being absent,
the resolutions were laid on the table and ordered to be printed.

The chair then resumed the call of the states for ihe presenta-
tion of petitions and memorials; when

Memorials, petitions, proceedings of meetings, Sic. were pre-
sented in favor of the restoration of the deposites and the re-
charter of the bank, by the following persons by Mr. Hard
from citizens of New York; by Mr. Selden from 600 citizens of
Brooklyn, New York; by Mr. Fillmore from the citizens of Buf-
falo, New York; by Mr. Shinn from the president and directors
of tin.- state bank of Camden, the Cumberland bank of Bridge-
ton, and the Farmers bank of N. Jersey; and from the citizens of
Gloucester county, and another county, in New Jersey; by Mr.
Lee from a meeting of the citizens of Cumberland county, New
Jersey; by Mr. Wagener from citizens of Northampton county,
Pennsylvania; by Mr. Miller from citizens of Cumberland county,
Pennsylvania; thirteen memorials by Mr. Heister from about
750 [additional] citizens of Lancaster county; by Mr. Chambers
from a meeting of the citizens of Franklin county, Pennsyvania;
from the inhabitants of tile township of Washington in the
same county, also from other inhabitants of the county, t-igned in
all by upwards of 1,800 voters; by Mr. IHnney from a meeting of
building mechanics of the city and county of Philadelphia; by
the sau;e from a meeting of tin-plate workers, sheet iron work-
ers and coppersmiths of the city of Philadelphia; by the same
from a meeting of cabinet makers, piano forte niaki rs, chair
makers, upholsterers, fancy fuinishers, fringB makers, carvers,
gilders, varnishers, turners, lamp makers, coach makers, aud
others engaged in furnishing materials and labor connected
with these arts, in Ike city and county of Philadelphia; by the
same from authors, editors, booksellers, publishers, printers,
look binders, paper makers, paper dealers, stationers, en-
gravers, copper plate printers, type and stereotype founders,
Hinting press mukers, and ink manufacturers, in the city of
Philadelphia; by the name, the proceeding! of a meeting of
young men of the city and county of Philadelphia; by Mr. Banki
from a meeting of inhabitants of the county of Beaver, in the
slate of Pennsylvania, by Mt. Henry King from farmers, iron
na-iters, storekeepers, mechanics and others, residing in the
ower part of the county of Schuylkill, Pennsylvania; by Mr.
fVatmoui>h from a meeting of citizens of Oxford, Lower Dub-
in, Byberry. Moreland and unincorporated Northern Liberties
if the county of Philadelphia; by the same from a meeting of
he citizens of the third congressional district of Pennsylvania;
>y i he same from another meeting of citizens of the same dis-
trict. Mr. H'atmough presented, also, a memorial of citizens
>f the third congressional district in the state of Pennsylvania,
complaining of a misrepresentation attending the presentation
o the house, on the 3d of March, instant, of a memorial from
certain citizens of said third congressional district, as to the
lumber of signers, and representing that many hundred of said
signatures were duplicates. The said memorials, so presented
on the 3d, though stated by Mr. Sutherland to contain 4,000
signatures, upon strict examination were found to have but 1,497
names in all; of which, 467 were duplicates. So that the teal
lumber of signers, instead of being, as alleged, 4,000 was, in
reality, but 1,050. Mr. W. laid a synopsis of these signatures
>efore the house, and moved for its printing, together with the
nemorial he presented. Mr. Sutherland, having obtained h-ave
o reply, gave the authority on which he had made his former
statement, but admitted that there must have been some mis-
,ake. The duplicate signatures he accounted for from different
copies of the memorial having been circulated, and the signa-
ures to each, by accident, put together. To show how easily
this might occur, he referred to about ninety names in the me-
morial presented some days since by Mr. Binney. which were
o be found in similar succession in two different portions of
.he roll of signatures. Some further explanations took place,
which we do notunderlake to give in detail, but which resulted
n a request from Mr. Binney that Mr. Satforiand would send
to the clerk an exam list of the names he had referred to, as
tfr. Watmough hail done in reference to the memorial present-
ed by Mr. Sutherland. By Mr. Anthony, two memorials from
Lvcoming county, Pennsylvania; by Mr. Harper from a meet-
n'g of silver smiths, wateh makers and jewellers of the city
and county of Philadelphia; by Mr. Stewart the memorial of
nhabilanls of Brownsville and vicinity, in Pennsylvania; by
Vlr Galbraith from inhabitants ofCrawford county, Pennsylva-
lia- by Mr. Barnitz, (a protest from 70 citizens of York county,
aainM.tht" proceedings of a meeting held on the 4th March);
)V Mr. Wist from citizens of Northampton county, Virginia; by
the same from citizens of Arcomac county, Virginia; by Mr.
Mfon from merchants, manufacturers, mechanics and other
citizens of the town of Peterbtugb, Virginia; by Mr. Loyal! from

70 NILES' REGISTER -MARCH 29, 1834 THE BALTIMORE COMMITTEE, &c.

inhabitants of Princess Anne county, Virginia; by Mr. Palton
from inhabitants of the towns of Fre.dt-rick*b;irch and Falmoulh,
Virginia; by Mr. Cage from inhabitants of Wilkinson county,
Mississippi, by the same from inhabitants of Adams county,
Mississippi.

All the above memorial?, proceedings, &c. were read, refer-
red to the committee ol ways and means and ordered to lie
limited, with the exception ot the one presented by Mr. Barnitz

Mr. Ellsworth, of Conn, took the floor and spoke in opposition
to the secretary of tlie treasury's reasons unlit past 3 o'clock,
and having concluded,

Mr. Choate obtained the floor, and the house adjourned.

THE BALTIMORE COMMITTEE AND MR. McKIM.
delegation appointed to visit tbe city of Washington,

i, .

Iron, York county, Pa. which was ordered to In- primed and j to presein the^mc-mm.*! ol^ the citizen* of Baltimore, in favor
laid on the table, and those by Mr. Cae, from MissisMppi, which

were simply presented and not disposed of.

Memorials, petitions and resolutions against a restoration of
the public deposites to the bank of the U. Stales, and against
a renewal of the charter of said bank, were presented as fol-
lows, viz:

By Mr. Page from inhabitants of the couniy of ptsego, New
York; by Mr. McVean from a meeting of inhabitants of the
county of Montgomery, New York; by Mr. Dickenon from ma-
nufacturers, mechanics, merchants and farmers of Pateison
and its vicinity, New Jersey; by Mr. Lee from a meeting of citi-
tens of Cumberland county, New Jersey; by Mr. Miller from a
meeting of citizens of Carlisle and vicinity, Pa.; by Mr. Suther-
land from citizens of unincorporated Penn township, Pa; by the
same from a meeting of citizens of Philadelphia; by Mr. Gal-
braUk from inhabitants of Ciawford county, Pa.; by Mr. Mason
from inhabitants of the town of Petersburgli, Va.; by Mr. ll'tsc
ironi a meeting of inhabitants of Matthews comity, Va.; by Mr.
SLytle from a convention of inhabitants of Hamilton couniy,
Ohio; by Mr. Leavilt two memorials from inhabitants of the
" itate of Ohio; by Mr. Parker sundry resolutions adopted by the
general assembly of Now Jersey adhering to the resolution?
passed by them on the llth January last; by Mr. Jiarnitz cer-
tain resolutions passed at a meeting held in York, Pa.

All the above memorials, &c. were read, rcf.-rred to the com-
mittee of way* and means and ordered to be printed, except the
last which was ordered to he printed and laid on the table.

Mr. Peyton, of Va. moved a resolution calling upon Hie secre-
tary of war for all the correspondence since March 4. 1829, rela-
tive *o a removal or change ol the pension office from the bank
of the United States, and its several branches, to any of the local
banks.

After attending to various other matters connected with posi
routes, or of a private and personal character, there being but
.forty-seven members present, the house adjourned.

Taetday, March 25. Mr. Chinn reported a hill to complete
the improvement of Pennsylvania avenue.

Mr. Ashley, of Missouri, having obtained leave, presented a
memorial from certain merchant*, citizens of the western slates
convened at Philadelphia, praying fur a restoration of the de
polite* and a rcchartcr of the hank.

Mr. Burget, who h>id the floor on Mr. JfnrJts' resolution on
the subject of the depoi<e<, waived his right, in order that Hit
tales might be called for memorials and petitions.
The house Having granted leave,

The chair resumed the call of the states, commencing with
Mississippi.

Mr. Cai;e moved tint the resolutions which he presented yes-
terday from certain citizens of Mississippi be laid on the table
and be printed.

Mr. Plummer asked leave to address the house, in order to
express hi* dissonl to the doctrines of the resolutions.
Mr. Cage withdrew his motion to lay them on the table, when
Mr. Plummer moved to commit the resolutions to the com-
mittee of ways and means, with instructions to report adverse-
ly to the prayer thereof; hut the resolutions having, by mistake,
been sent to the printer, Hie motion of Mr. P. was laid over un-
til the next petition day.

Tbt chair laid before the house a letter from lieut. Levy, of
the navy, presenting to the U. States a colossal bronze statue
of Mr. Jefferson, which on motion of Mr. Pattern, of Va. was
referred to the commitiee on Ihe library, and ordered to he
printed.

The house th:n took up the order of the day, being the con-
sideration of the report of the committee of ways and means on
the subject of the removal of the denosilcs, when

Mr. Clay, of Ala. took Hie floor and spoke till 3 o'clock, and
tbfn, on motion of Mr. Srhlai, of Geo. the house adjourned.

JPeJnetHay, March 26. The resolution submitted hy Mr.
Murdit, of Ala. relative to the public deposited was taken up,
and

Mr. Burgei resumed and concluded his remarks on the sub-
ject, when

Mr Chilton Jlllan obtained the floor.

At one o'clock the house proceeded to the considciation of
the resolutions reported by the committee of ways and means.
tc.

Mr. Schley, ofGao. took tin- floor and addressed the house in
support of tlie .eertary. When Mr. S. concluded,

Mr. ElUtrorth obtained l!ic floor, and moved Hint ihe lum^e
adjourned, which motion was negatived; but the motion to ad-
journ being renewed by Mr. Me Co me.?, nfler some explanations,

th<- hmisc adjourned

v, March 27.

>iution of Mr. Mnrdti on the

subject of the pnhtic dwpiifites WN Ukcn up, when

Mr. CMHon *9lltm xridrcsgril the house, in opposition thereto,

until the hour expired without concluding, when

The houe resumed the consideration of lite report of the

-ewmmutee ot ways and means, and

I' the restoration of the deposites, who made their report at
he meeting in Monument square on tin: 5th instant, have found
he.inselves compelled to appear again before the public, in
answer to an attempt that has been made by the secretary of
he treasury and one of ihe representatives from the city of Bal-
imore, to discredit the statements contained in the report re-
erred to.

The delegation, consisting of individuals who have never
coveted the honors of political preferment, who have for the
most part but little mingled in the strifes and contentions which
lave unfortunately so much agitated our country, and whose
ives have been engrossed in pursuits thai left them small lei-
sure and less desire for public affairs, were not prepared to
expect thai Ihe duties they had reluctantly assumed, in visiting
Washington, wure to be subjected to such harsh imputations,
as would put the delegation upon the necessity of vindicating,
before their fellow citizens, their personal veracity and honor.
In the excited stale of the times, they had, it is true, good
reason to believe that party exasperation would supply much
severe comment upon the motives of the memorialists and upon
the conduct of the delegation; and as citizens charged with an
important trust, they were willing to abide the spleen of those
who inis-ht be offended. But Ihey did not suppose that facts,
solemnly asserted under the responsibility of their names,
would be flatly denied. This extreme, however, they have
already encountered from various quarters, in forms so authori-
tative as to compel them in their own defence, to throw them-
selves before their fellow townsmen, with such a statement as
they hope will, amongst all who are acquainted with the dele-
gation, leave the question of fact, at least, beyond controversy.
The unusual circumstance of appointing a special delegation
to visit the seat of government in order to present the memo-
rial, indicated the deep and momentous concern which the
citizens of Baltimore felt in the pan and in the pending mea-
sures of the government. The memorial itself expressed the
language of extraordinary present distress and of anxious fear
for the future welfare of the nation. In every quarter the dis-
turbed and dismayed condition of the people, the frequency of
public meetings, the intensity of the public discussions, and the
sad forebodings which the wisest and best men in the nation
had openly expressed, showed, too clearly to he mistaken, that
sreat interests were at hazard interests that involved some-
thing more than the personal calamities of individuals, and re-
lated to the permanency and integrity of our government. In
such a slate of thine?, the delegation were selected to proceed
to the city of Washington. It was their duty, as they under-
stood it, not only to present the memorial with which they were
charged, but, also, to ascertain, as accurately as their inquiries
iniiilit enable them, whnt were the sentiments of the prevailing
party, both in and out of congress, in reference to the increas-
ing distress of the time", and whnt were the hopes of change.
In this interpretation of the purposes of their mission they
could not neglect the obvious duty of holding communication,
not qnly with members of both houses of congress, but. nlso,
with such portions of the executive, as mieht be supposed to be
able to communicate the authentic views of that parly in whose
hands, alone, the power to redress the people resided. They
felt that, as American citizens, representing a large and res-
pcclahln portion of the constituent body, they had a right to
this information: thai the genius of our government defied the
concealment of Ibe principles hy which the public functionaries
were regulated; and that as the halls of congress were open to
petition, so should the executive department be open to the
access of every citizen who respectfully approached it to make
known the actual stale of the country, and the influence of the
public measures upon the welfare of the pcopl.-. With this
persuasion the delegation felt no delicacy in holding an inter-
view with the president and his secretary of the treasury; and
having done so, they reported the rcsuli of these interviews to
Iheir fellow citizens, as accurately ns they are able to recollect
them. And here they lake leave to observe, that they do not
recognize the doctrine that any public functionary," in this
countiy. can. consistently with the principles of our govern-
ment, claim to consider his communications to a commiiree.
of the people, in rmttors rclntint: to great and important public
measure.*, in the liaht rif confidential disclosures, which they
are not at liberty asain to repeat and more particularly is this
remark applicable to the represcntntivcs of the people, in their
relation wilh Iheir own rnntiturnts. Our's is a government
lne.h professes to nove in the light of public scrutiny. To
ciiiiiine.nl upon tin- principles of those who administer if. whe-
ther in nr out nf congress, is a boasted prerogative of the peo-
ple; and if the representative entertain docltines, or i? governed
by motives of which his constituents arc igm>rani. the conceal-
ment of them is ntiu-iirihv of his station. If they be of evil
tendency, he is not fit for his place if Ihey be good, there can
be no private reason to withhold them.

Wilh these preliminary remarks, the delegation proceed to
examine a letter, addressed by the honorable Roger B. Taney,

NILES' REGiSTEll MARCH 29, 1*34 THE BALTIMORE COMMITTEE, Sic. 71

secretary of the treasury, to Upon S. llenlth, esq. of this city,
dated the lUtli instant, and lately published in the newspapers
of this city; an answer to which, it is proper to say, would have
been sooner laid before the public, but for the absence of two
of the delegation from the city.

Mr. Tancy, from the particularity with which he remarks,
that four of the gentlemen of the delegation were not present at
the interview with him, seems to infer that the report had con-
veyed a different impression to the public: but it will be seen,
by reference to the report itself, that the statement there given
is, that "a part of the delegation" only called upon liim. He
complains that, in the conversation to which he was invited
by Mr. Brown, one of the four who visited him, he had no
reason to expect that it was designed for publication. He then
proceeds to detail the substance of the conversation which he
held with Mr. Brown, and with Messrs. Crawford and Gaither,
having previously remarked that Mr. Patterson did not come
into the room until near the close of the interview.

That part of the conversation, as detailed by thn secretary,
in which he ar.serts that Mr. Brown expressed himself opposed
to the restoration of the depositeg, the latter gentleman has un-
dertaken to answer for himself, and expressly denies, (what
would seem to be sufficiently incompatible in itself), that he
who went to Washington lo ask for a restoration of the depo-
sites, should have declared himself opposed to such a measure.
The contradiction may be reconciled by adverting to the fact
stated by Mr. Brown in his separate publication, namely, that his
opinion was, that the future ileposilei should be made in the
United States bank, an opinion which the secretary's statement
does not controvert, and which may be assumed to he the com-
mon wish of the great mass of the people of the U. States, who
are at present petitioning for their restoration. The fact also
that Mr. Brown desired to see the charter of the bank modified,
or a new bank erected in its place, is conformable to the known
sentiments of that gentleman, though a matter of no interest to
the mission upon which the delegation proceeded to Washington.
It is a fact, however, which may serve to show that the mea-
sure of restoring the deposites is not so inseparably connected
in the minds of the people with the renewal of the present bank
charter, as the public have been taught at Washington to be-
lieve.

Thus disposing of such part of tho secretary's letter, as re-
fers to Mr. Brown, the delegation cannot perceive much dif-
ference between the statements of Mr. Taney and those given
in the report; and it will perhaps relieve the secretary fiom his
suspicion that the confidence invited by Mr. Brown, has been
violated, when the delegation assure the public that they have
reported nothing that was not uttered after Mr. Patterson came
into the room. The object of the delegation was in no respect
unfriendly to Mr. Taney, nor did they seek to cast a censure
upon him, nor expose him, in any degree to public animadver-
sion. His sentiments had been already given in an official form
to the nation, and had been so largely canvassed that no one
could be supposed to be ignorant of them. It was, therefore, not
a subject of their concern, to repeat Mr. Taney 's views as declar-
ed to Mr. Brown, in regard to his conceptions of the danger and
abuses of the powers of the bank. The principal objsct of their
visit to the secretary was to communicate to him their own
knowledge of the public distress, of their conviction of the source
from which it sprang, and to learn from him whether, with these
evidences before his eyes of the unpredicted and fatal conse-
quences of his own error of policy, this department of" the exe-
cutive still adhered to the determination of maintaining the un
fortunate position ithad previously assumed. His answer to this
communication was all that it interested the signers to know,
and it was to this point, accordingly, that they directed their
attention. Mr. Taney was informed, by the chairman of the
delegation, in what capacity they visited him, and they cannot
but feel surprised that the secretary should have supposed Hint
an answer so pregnant of interest to the nation should not be
duly and faithfully reported. They have so reported it. Mr.
Taney had spoken to them of the experiment although his
letter does not admit this phrase and had said that it would be.
continued regardless of the present difficulties; upon which Mr.
Patterson, conceiving this to be the great and paramount ques-
tion before the people, addressed the remark to the secretary
"Sir, if this experiment should he persisted in. and some relief
such as we do not now anticipate should not be given, a
large portion of the trading community must fail." The se-
cretary's reply was "If all did fail the policy of the govern-
ment "would not be changed." To the verbal accuracy of this
language, on both sides, the gentlemen of the committee pre-
sent, now, after mature deliberation, give their most solemn
declaration. And they bep ngain to repeat that all that is con-
tained in their report was, in "substance, communicated to them
by Mr. Taney, at that stase of the conference at which Mr
Patterson was present this gentleman now affirming to his re
collection of all therein contained.

In making this communication, the delegation think trie cili
zens of Baltimore will perceive that there is no substantial dir
ference between their report, and the admitted views of Mr
Taney, as declared by himself although the secretary ha.
somewhat softened the import of the language used by him. Hi
still, however, does not deny t'.mt he may hnve u?ed thn exae
expressions imputed to him by the delegation and with tliii
explanation the delegation are willing to dismiss the subject
taking the occasion at the same time, to protest, that they neve
iupposed they were violating a private confidence, in repotting

what they heard and aUo, to assure Mr. Taney that tiiey ap-
proached him and left him with sentiment* of private respect
unchanged by the intervinw regarding the communication he
had made lo them, as the deliberate arid approved course of
the executive, guided, doubtless, by its own sense of the public
good, and of the importance of ils policy.

The delegation proceed to consider the letter addressed by
Issac McKim, esq. to the citizens of Ihe fifth congressional dU-
iriol, daled on the 15th instant.

This letter, they a.re sorry to remark, indicates a drgrcp of
temper on the part of the writer, lhal has led him inlo imputa-
tions upon the delegation, which, perhaps, in a cooler moment
he will regret. The duty of a representative to submit to a
scrutiny of his public character, conveys un obligation too vital
to the lilierly of the people, lo justify the exhibition of resent-
ment against any constituent who demands the inquiry. The
representative is entitled lo personal respect to fair examina-
tion and to impartial judgment he is entitled lo be protected,
as in this community he mosl assuredly would be, against false
accusations and misapprehension; but he is not entitled to the
veil of secrecy to cover his opinions, or screen his acts from
public review. The people and, especially, in limes whan il
IR important that their voice should be truly heard in the public
councils have a right to inquire, and to speak; and commen-
surate with their right to inquire, is it the icpreatntalive's duly
lo submit io the investigation.

The delegation make these observations, because, In the part
they have had to perform, it has been their misfortune to incur
from Mr. McKim, the imputation of a <fcsin to injure him. To
this they reply, thai some of them have been long in Ihe en-
joymenl of social relations with that gentleman, which had won
from Ihem Iheit private regard, and that it is doing violence lo
their personal sentiments, when Mr. McKim attribute!, to them
any other motive or impulse, in making iheir reporl, than Ihose
which strictly belong to their regard for truth, and lo their sense
of duty to the citizens, by whom they were deputed to visit the
seat of governmeril. Their veracity, however, havinz been
most uncourieously challenged by Mr. MeKim, they feel no
lesitation in encountering his letter with a statement which
hey feel assured Ihe citizens of Baltimore will not discredit
ind, in the beginning, they earnestly reaffirm Ihe entire and
icrupulous truth of Ihe statement heretofore submitted to the
>ublic.

Before the delegation enter upon the examination of Mr.
McKim's letler, they will pause to dispose of one objection
which, from the phraseology used by him, would seem to imply
an exception to the right of the signers of the memorial to ex-
peel from him eilher accountability to them as a representative,
>r his aid in presenting tke memorial to congress. His letter
i addressed lo the citi/.ens of "Ihe fifth congressional district,"
nrludinc a portion only of Ihe citizens of Baltimore; and he
peaks of being "wantonly assailed by a committee opposed to
the present administration of the government, deputed, in treat
part, from a neighboring congressional district, and that a public
meetingconvened without the limitsnfhif district." It is scarce-
ly necessary to say more to this objection, than thai a very re-
spectable number of his own immediate constituents had Finned
the memorial, and that two of them, caplnin Graham and Mr.
Hubbard, (the latter of whom was prevented by his 'engage
ments in the city council from accompanying his colleagues),
were appointed on the delegation. To this fnct may be added,
Mr. McKim's notification to Ihe delegation that he was expect-

:TI I . ifurvnn S>UI?IIIIL. n ia<-i iu^_ . - _ .

the objection intimated above. The delegation now purpose to
xamine the statements contained in Mr. McKim's lellcr.

By that document it will be perceived that Mr. McKim's in
terviewa with the members of Ihe delegation, are described as

terviews WHII me menioers <>i uiu ueiegBiwu, urc
havinz taken place, firsl in his own parlor, anil secondly, in
the parlor of the delegation. The individuals of the delegation
present at his own parlor interviews are stated by him lo be
Mr. Howcll, on the night of the 10th, and Messrs. Birckhead
and Graham separately on the morning of Ihe lllh. By the
same statement, his visit to the delegation in their own room
took place on the night of the llth and lasted about nn hour, he
pays the person there present were Mr. Crawford, Mr. Patter-

72 NILES' REGISTER MARCH 29, 1834 THE BALTIMORE COMMITTEE, &c.

e pro-

one conclusion namely, that the gentlemen referred to ap-
proached him under the mask of friendship, artfully insinuat-
ed themselves into the secrets of his bosom, and whilst ac-
cepting the hospitality of his table, or the privileges
family sanctuary, wsre conspiring to betray him, hy th
roiilg.ilion of falsehoods to the public. It will be seen before
this reply is concluded, with what propriety these insinuations
are thrown out.

Mr. McKim purport* to give what he calls the "history" of
wti.it took place between himself and the delegation meaning,
of course, (as, in such circumstances, it was liis duty to give),
a faithful narrative of every thing that he could remember. It is
upon this narrative lhat he invokes the public judgment; and,
in the beginning of his letter, confesses that if the repoit of the
delegation be true he is "unfit to be the representative of a free
and enlightened people." It is upon this issue that the delega-
tion now present themselves to the public.

The delegation take this occa.-ion earnestly to remark, that,
in the report made by them to the citizens of Baltimore, they
have not stated one word, nor referred, by the remotest dilution
to one expression used by Air, McKim any where but in their owi
room. Mr. Howell, who visited .Mr. McKim in his parlor
was not requested to make that visit, nor wa- lie commissionei
to speak the sentiments of the delegation. \o report was made
by Mr. Howell to the rest of the delegation, except a casna
remark, importing that Mr. McKim did not wi.-h to present the
memorial a remark that was not repented in the report. His
visit was regarded by the delegation us entirely private, and he
did not feel himself at liberty tn detail, especially for the public
ear, any thing that was there uttered by Mr. McKim.

It is true that capt. Graham, bring Mr. McKmi's immediate
constituent, was deputed with Mr. Birekhead to call on .Mr.
McKim, on the morning of the llth, and inform him that ttie
delegation had arrived; but nothing that passed between these
gentlemen and the representative was incorporated into the re-
port. Indeed, so great has been the reluctance of the delega-
tion to say any thing of Mr. McKim's opinions, except as they
referred to the immediate subject of their mission, that they
have in their report scrupulously omitted many particulars
which, although properly subject to public remark, were of
such a nature as to indicate a want of due reflection on his
part, and for that reason alone were withheld from the report.

VVHh this statement it cannot but be seen how very unjust h
the attempt of Mr. McKim to enlist the public sympathy in his
favor, by endeavoring to cast upon the delegation the implied
offence of violating the confidence of his fireside. He has,
however, in bis letter, broken this seal of confidence, and pub-
lished to the world for the first time, the conversation he had
iicld with Mr. Howell. As this conversation is now referred
to, somewhat in the light of an official answer to an official
communication a character which Mr. Howell certainly never
gave it, it is proper to say that it is in general n true statement,
except that Mr. McKim (according to Mr. Howell's recollec-
tion), instead of saying that "he would risk bis life and fortune
rather than betray the trust which his constituents had delegat-
ed to him" remarked lhat he would encounter this risk "ra-
ther than abandon the course of the administration" a remark
which he reiterated in the room of the delegation. The delega-
tion repeat that no part of this conversation ever entered into
the report.

From Mr. McKim's "history "of the case, it would seem that
(the only occasion on which he had any conversation with any
members of the delegation regarding the immediate object of
their vi'it to Washington, was in his own parlor; since he de-
elates *bat when he visited the delegation in their room on the
night of the llth, (where he remained, according to his own
statement, mn hour, and, according to that of the delegation,
upwards of two hours) he had only a general conversation
About the etate of the money market, the bank and the pres-
sure but not a word, that he can remember, "about presenting
the memorial." If this be correct, it is a littlo strange that Mr.
McKini should consider the communication he had in his own
parlor relating to the presentation of the memorial, confiden-
tial, since it is, according to his own testimony, the only occa-
*.-ja on which the subject was opened to him by any member
of the delegation. Mr. McKim, however, the delegation affirm,
is altogether in mistake and as his "history" is written to ena-
ble the public to decide the important issue which he himself
has tendered, it might naturally be expected that a little more
particularity should have been indulged as regards the conver-
sations and eventt of this visit.

As it was at this visit to the delegation in their own parlor,
that Mr. McKim expressed himself in the language ascribed to
him in the report, the delegation feel themselves authorised to
refer to so much of the conversation lhat passed there, as may
be necessary to recall to Mr. McKim, more explicitly than they
have heretofore done, the subjects that were then brought into
discussion. And as Mr. McKim is not only silent in his letter
us to what pasxed on this occasion, but also expressly negatives
the statement heretofore made by the delegation, they take the
opportunity to reaffirm, in the most impressive lancuage, the
perfect truth of that statement, and to declare that all (here re-
ported and much more, was uttered by Mr. McKim at this visit;
find consequently that the visit was not of so informal and un-
important a character as the letter would leave the public to
0uplJse.

When Mr. McKim entered the room of the delegation, he in-
quired for the chairman. It is true, an Mr. McKim .states, that

the chairman did not introduce the subject of presenting the
memorial because, from what Mr. Hon-ell had intimated .the
night before, the delegation were led to believe that Mi. MoKiin
did not wish to present it. But Mr. MeKim himself introduced
tin; subject, and gave the reasons for not presenting the memo-
rial already detailed in the report. It may iivsfet hi.- memory

I to recall this circumstance, so strenuou>ly denied by him, to re
fer to a fact, the announcement of which particularly stiuck
the attention of the members of the delegation to whom it was
addressed: Mr. McKim stated to the chairman, amongst other
reasons for not presenting the memorial that it was the cus-
tom, on such occasions to make a long speech that this would
be expected of him by the delegation, and therefore h would
have to make one, which he could (Jo, but he had been advised
not to make speeches, because it would hurt his influence in
the house. He further remarked, as an additional reason, that
he would be called on to present the counter memorial, which
he expected in a few days: and he said other things bearing on
the same subject, which the delegation do not choose to repeat,
being too confident in their own recollections, to allow them-
selves an instant of doubt as to the accuracy of their statement.
Mr. McKim has, by his silence, also denied his opposition to
the policy of the removal of the de|X>siles. The delegation, in
addition to the statement in their report, say, that Mr. McKim
had his attention drawn to this subject, when he candidly
avowed his opposition to the measure, and said that he had
written letters against it, which were read in the cabinet; and,
moreover, that in Baltimore, he had urged Amos Kendall not
to do it at all events, until after his election. These remarks
were followed by ni.s declarations relating to his influence with
tlie executive, as detailed in the rnport; and also of his own
knowledge of th distress existing in Baltimore, which, he said,
he had not made known, as he thought it might injure the city
illustrating his remark, at the same limo, with a proverb
which it is not necessary to repeat and declaring, as a further
mason, that lie was not going to admit the distress to the Yan-
kee members of congress. His expression, at this interview, in
regard to Mr. Bibb, of which, "for tlie present, he contents
himself wilh a positive denial" the delegation now emphati-
cally reassert, as made by him, on this occasion, to Mr. Patter-
son anil the chairman Mr. Crawford.

These remarks were made by Mr. McKim during the inter-
view, to portions of the delegation, as the conversation respect-
in!: the objects of the mission led to these topics; and although
not all heard by each member of the delegation, yet they were
sufficiently general to remove any pretext for Ihe supposition
lhat they were intended to be confidential, or to express any
other than the public sentiments nnd opinions of the represen-
tatives, and too explicitly declared to admit of the possibility of
misapprehension.

The delegation regret that they should be put so distinctly
upon the defence of their own veracity, as to make it necessary
to repeat assertions heretofore given to the world under their
own hands. But they trust their fellow citizens will perceive
that no alternative was left them but to take up the is.ue pre-
sented to them by Mr. McKim. In doing so, they have exhi-
bited the case so strongly as, for the present, it is necessary to
do. They have shown that Mr. Kim is entirely mistaken, in
supposing any confidence of private friendship has been violat-
ed, that the interview with him was upon his own call, in the
parlor of the delegation, and that he has not given in his letter
any particulars of the conversation which occurred there,
whilst he has filled it with conversations which the delegation
did not report: that his memory, as to what occurred in the par-
tor of the delegation, is treacherous and cannot he depended
upon: whilst the recollection of the several members of the de-
legation of such parts of the conversation as fell within their
hearing, is accurate and fresh, and warrants them severally, in
giving the most solemn avouch to the public, of the truth of
their previous report, and of the facts herein added to it.

With tiiis explanation they desire to take leave of the sub-
ject, confidently relying upon their credit and character with
their fellow citizens, to whom they beg permission to add, not-
withstanding recent attempts to discredit other parts of their
report, that upon a deliberate review of the whole of that do-
cument, they are willing to pledge their honor and reputation
for its entire and unexaggerated truth.

WM. CRAWFORD, jr.
HUGH BIRCKHEAD,
J. W. PATTERSON,
GEO. R. GAITHER,
W. C. SHAW,
WM. GRAHAM,
JOHN BROWN HOWELL.

P. S. Since this reply has been prepared by the delegation,
Mr. Brown, conceiving from the special manner in which he
tias been singled out by Mr. Taney for remark, and believing,
from his being the only member of the delegation with whom
Mr. McKim had no conversation, that he is the person referred
to in that gentleman's letter, has thought it his duty to annex a
separate reply in his own name.

For this reason, alone, Mr. Brown's name does not appear
with the rest of the delegatioa, his separate reply being snb-
oiucd.

CARD.

Tn addition to the notice published on the 18th inst. of the
statement made by Mr. Taney respecting the conversation re-

N1LES' REGISTER MARCH 29, 1834 NEW YORK REPORT.

ferred to by him, as having taken place between him and my-
KclfiH Washington, I consider it also my duly, under existing
Circumstances, to suy, that so far as concerns my interview
with Mr. McKim, if lie alluded to me, IK; is correct in stating
that I Imd no conversation with him as I came into the com-
mittee room where he was when the interview between him
and the delegation was nearly closed. But it is my duty fur
ther to state, that although I had not an opportunity myself to
tiear his remarks, yet trout the representations of my colleagues
imim'iliately afterwards, and from my entire confidence in their
veracity as gentlemen, 1 cannot entertain the slightest doubt of
Hie statement made; mil I do now, as I did wlien I signed the
report, hold myself responsible in common with them, for the
truth of every word therein stated. I have thought it necessary
to make this separate statement, because I am the only person
of the committee to whom Mr. McKim's remarks could apply,
and I cheerfully submit my course to the public decision.

GEO. BROWN.
Baltimore, 19th. March, 1834.

REPORT OF THE "UNION COMMITTEE" OF N. YORK
Appointed by the meeting of the signers of the memorial to
congress, held on the llth day of February, 1834, at the Mer-
chants' Exchange, in the city of New York.
The "vniou committee" appointed by the meeting of mer-
chants and others (signers of the memorial to congress) held on
*he lltb day of February, 1834, at the Merchants' Exchange of
New York, submit the following report: in which as the only
means in their power of inducing a reconsideration of the sub-
ject by the state legislature, the committee have embodied their
views respecting the removal of the public deposites and a na
tional iiank.

The committee, anxious in the first instance to ascertain the
situation of the state banks and of the branch bank in this city,
and the probable amount to which their accommodations might
be extended, applied to them for that purpose. The banks
have, almost universally, cheerfully complied with that request,
although aome delay has necessarily taken place; and the state-
ment annexed to this report which exhibits their situation on
the 1st of October, 1833, and the 1st of February, 1834, respec-
tively, shows that, so far from any curtailment having taken
place, the accommodations given by the banks have, during
that period, been increased more than five millions of dollars,
and on the 1st of Feb. amounted to almost forty millions of
dollars.

On the 1st of October last the loans and discounts
of the three banks, which have since been se-
lected to collect the revenue of the U. States,
amounted to $9,189,593

Those of the other 16 banks, then in operation to 18.953,183
.And those of the branch of the United States 6,180,833

$34,323,609

$13,769,552

19,494,185
6,458,540

On the 1st of February last those of the three se-
lected banks amounted to

Those of the 17 other city banks then in operation
to

And those of the branch bank to

$39,722,277

It was evident from that statement, that the city banks had
extended their loans and discounts to the utmost extent con-
sistent with their safety. The liabilities of the eighteen bank*
of which we have complete returns, including the aggregate
amount of their circulation and public and private deposites,
and deducting that of their own notes and checks drawn upon
them, in the possession of the several banks, and not returned
and exchanged till the ensuing morning, amounted on the 1*1
of February last, exclusively of the balances due to the banks
out of the city, to $15,500,000; and the aggregate amount of spe-
cie in their vaults to 1,652,000 dollars. This proportion is
known from experience to be sufficient in ordinary times, and
will prove so now, so long as the amount of public deposites
shall not be materially diminished; and especially at a time
when there is not and cannot be any foreign demand for specie;
but this amount of specie could not be sensibly lessened with-
out, endangering the safety of the banks.

Even if willing to encounter the risk of still further lessening
the ratio of .specie to liabilities payable on demand, it is not in
the power of the banks to do it at pleasure; since the ability to
extend their discounts beyond the amount of their capital, de-
pends entirely on that of Iheir circulation and deposites, and
these are regulated by the wants of tho community, and not by
the operations of the banks. Should they, by a simultaneous
effort, increase at this time their discounts by two millions of
dollars, they must to the same extent issue an additional
amount of bank notes, or open additional credits on their books
(commonly called deposites) in favor of those whose notes they
might discount; and by far the greater part of this excess of is-
sues, or book credits, beyond the amount wanted to effect the
payments of the city, would be almost instantaneously return-
ed upon them, either by transfers of the surplus amount toother
cities, or in some other way.

In the present state of public excitement and apprehension,
the slightest incidents may produce fatal effects. An unfound-
ed alarm as to the sitiiatio'n of the country banks, has sli.nvn
the necessity imposed on those of the city to husband tUtir re-

sources. In that instance, we are gratified to find that the
measures of relief which were immediately adopted have been
attended with complete success; and that the banks of the in-
terior by a salutary though painful curtailment of their issues,
and by judicious measures for the redemption of their notes,
enjoy now the same confidence as heretofore.

The preceding observations are strictly applicable to all the
city banks which rely exclusively on their otv n resources. The
late great increase in the amount of loans ;md discount* be-
longs almost entirely to the three hanks M lect^d to colltct the
public revenue, and is due partly to the increase of about one
million of dollars in the amount of public dcpusiies in this city,
since the first of August last; but principally to the fact that the
selected banks have increased their discounts almost to the
whole extent of the public moneys in their hands. Whether
they will be able to continue their accommodations to the same
amount depends on a contingi-iicy, which it is not yet in their
power to ascertain, viz: whether their receipts derived from the
United States revenue, which may be collected during the en-
suing months at New York, will be equal to the amount of the
treasury draushts for the public service during the same period.

The city of New York has had no reason to complain of the
curtailments made here in its discounts by the bank of the
United States. Notwithstanding a decrease of more than four
millions of dollars in the amount of the public and private de-
posites in the New York branch since the first of August last,
the loans and discounts here do not vary essentially fiom the
amount allowed, either on the first of August or the first of Oc-
tober, 1833. But it was presumed that the same reasons which
had induced the bank to strengthen this important place, had
lost nothing of their force; and it was the opinion of Hie com-
mittee that the capital of two millions and a half, originally as-
signed to the branch of this city, which is but one-fourteenth
part of the whole capital of the bank, was much less than is
now due to the principal centre of the commerce and moneyed
transactions of the country. Strong representations were
therefore made for the purpose of obtaining from the bank posi-
tive assurances, that no diminution at least of their discounts,
or in the purchase of bill* of exchange, should take place in
this city, arid that the forbearance in calling for balances due
by the city banks, should be continued to the same extent as
heretofore, during the two ensuing months.

A disposition to comply with this request was early manifest-
ed, but an intervening incident induced the bank to postpone a
definitive answer, which was not received till yesterday. It
will be seen by this, that the bank of the United States accedes
to the course proposed by the committee of correspondence,
"that no diminution up to the first of May next, be made in the
present amount of loans and discounts in the city and state of
New York, and, if practicable, that an increase be made in the
line of domestic bills of exchange, discounted at the office in
that city, and that the bank will not call for the payment of such
balances as may become due to it by the city banks up to the
first of May next," it being understood that, in case the bank of
the United States should become indebted to the city banks, a
similar forbearance on their part is to be observed. The ar-
rangement to be subject to be changed by the bank, in case of
further hostile action of the executive, or any unforeseen event.

Upon the whole, the committee entertain a confident hope
that the accommodations now given by the banks will not be
lessened during the ensuing months; but cannot hold out the
expectation of any material increase. The only mode by which
some relief can be obtained from that source, without increas-
ing the liabilities of the banks payable on demand, which sug-
gests itself, is some uniform plan for an increase of special de-
posites, bearing a moderate rate of interest, and not to be with-
drawn before stated periods according to agreement.

The object of this measure must not be misunderstood. It
cannot bring into action any considerable portion of inactive
moneyed capital, since there is hardly any which is not at this
time actively employed, either directly or indirectly, as ordina-
ry hank rieposites. Its only effect would be to substitute, for
the private credit which from want of confidence is now with-
rirawn, bank credit in the shape of certificates of deposite, which
the holders might negotiate. Post notes would be more conve-
nient, but seem to be forbidden by law. That plan has been
successfully adopted in Massachusetts, and several foreign
countries. The eity banks are the only proper judges of its
practicability, safety and utility, here, and at this time; and
they have accordingly been requested to take it into considera-
tion.

In other respects the committee could recommend to them
nothins mnre than to take also into consideration the propriety
of the following measures:

An 8remnnt between the several banks, founded upon equi-
table piinciples, not to demand from each other, for the pre-
sent, payment in tpecieofthe balances which may respectively
become due to any of them; unless such balance should exceed
a certain sum in proportion to their respective capitals.

A uniform and efficient plan for the redemption of country
notes in this city, together xvilh such means as may be devised
for the purpose of facilitating, at this time, the country remit-
tances.

An application to our representatives in congress, urging the
necessity of passing immediate! v the hills now before that body,
for making the silver coins of Mexico and the states of South
America a legal tender, and for raising the vnlue of the gold
coins to their market price; suggesting, in reference to the laet

NILES' REGISTER MARCH 2!), 1834 NW YORK KEFOKT.

subject, that, fur the sake if uiiiformiiy, and of avoiding delay,
the same rule should be adopted as in the estimation of duties
on foreign importations.

An application to congress for n moderate and permanent ap-
propriation, which may enable tin' mini 10 p.iy in Ann-iican
coins, without delay or expense, for the gold ami silver bullion,
or iincurrent foreign coins which may be brought to [hat estab-
lishment.

Since it was obvious that the pressure on the money market

which this flate of things must he ascribed.

The causes which have been suggested as more specially
affecting this city, are the effects of the tariff, and of Hie pur
chase of foreign slocks on its capital. Public opinion amigne
the removal of the deposites and the curtailment by the bank of
the United Slates, as the general and immediate causes of the
present crisi.- throughout tlie whole country.

I. It was found impracticable during the last session of con-
gress to arrange the existing differences on the subject of the
tariff, by an net that should embrace all the details pertaining
to that iniricaie subject. In order to remove a pressing and im
minent danger, it became necessary to discard all the details,
and resort to a compromise embracing only general principles.
It could not but be expected that defects might be discovered,
and consequences ensue, not perceived or contemplated at the
time when the act was passed. It is believed that the great un-

i nat facrince inns most neaviiy on mat cuy in wuicu more
than one-half of the revenue is collected. The duties did not,
under the old system, become payable till about the time when
the importer was paid by the consumer. At present, the New
York importers not only collect as heretofore, but in fact ad-
vance to government one half of the whole amount of duties on
importations, which is ultimately paid by the consumer.

Without entering into a critical analysis ot the subject, it is
sufficient to observe, that an additional amount of capital, equal
to that of the duties, is now required, in order to carry on the
same quantity of business in articles on which the duties are
now payable in cash, or at much shorter periods than formerly.

The committee are unanimous in the opinion, that the prin-
ciples of the tariff compromise ought to be strictly respected,
and no modification? proposed but suuh as are consistent with
iu true intent and spirit. A warehousing system, founded on
the principle, that the time at which the duties shall be paid
shall be computed from the time when the merchandise is with-
drawn by the importer from the warehouse, and not from the
date of importation, the committee believe to be entirely ol
that character, similar to that adopted in every other commer-
cial country, and absolutely necessary for the protection ot
commerce. As a bill having that object in view is now before
congress, a sub committee has been appointed, for the purpose
of collecting all the information connected with the subject,
and of corresponding with the representatives of this city ii
that body.

2. New York has become the principal centre of all the mo-
neyed transactions of the United States. Large amounts ol
locks, principally from the south west, have been purchased
here, with a view, in a great degree, to their sale in the English
markets. This has not of late answered the expectations ol
the contractors. They may indeed have been enabled to bor-
row abroad to a considerable extent on the credit of those
stocks; but it cannot br. doubted that a large amount remains
on hand, and has absorbed a corresponding portion of the capi-
tal or credit of this city. For this there is no remedy. But a
still greater evil has crown out of the speculations on some of
those and several other stocks foreign to the city. Ceasing to

of artificial and sudden lalls in the price of stocks, ruinous I
innocent individuals, and generally to those engaged in it; an.
which has tended at this crisis to increase the want of confi
dence. The committee has thought it its duly to pass a resolu
tion, earnestly recommending to the board of brokers to dis
continue the practice, and has requested the co-operalion of tin
banks to carry that measure into effect.

In approaching the subject of the removal of the public de
posites, the first observation that occurs is. that tin- measure
considered only in its connexion with the fiscal arrangements
the currency, commerce and public, or private crudit of th
country, was at least wholly unnecessary and uncalled fur
Abstaining from the discussion of any question, either concern
ing the rights of the hank, or ai issue between the a<l,imn-tra
tion and that institution, or reUting to the respective powers n
tlW executive, legislative and judicial departments of the govern
ment, it is only as they are of a commercial and fiscal naluie
that the committee intends to examine the masons assignee
by the secretary ofthe treasuty for the removal.

The first reason was, that, judging from the past, it was high
ly probable that '-the public dcponites would always amount to

everal millions of dollars; and that it would evidently produce
ins inconvenience, if such a large sum were Ictt in posses-
ton of liie bank until the last moment of in existence, and
hen he suddenly withdrawn, when its immense circulation
voiild lie returning upon it to be redeemed, and its private ile-
nors n 'moving their funds into other institutions." It may
observed in the first place, that no inconvenience was felt
n March. 1811, when the charter of the former bank of the U.
States expired, from the fact, that as late as the first of January
filial year, the public moneys in thai institution exceeded six
iillMns, and on the day of the termination of the charter
mounted to iwo and a half millions of dollars. But the ec-
retary of the treasury, in his annual report on the finances,
stimates '-the balance that would be left in the treasury, (that
to say, the whole amount ofthe public deposites). on the 31st
Jecemher, 1834. at less than three millions of dollars; and that
he receipts of 1835 will be less than those of 1834." The se-
vetary could not, on the 28th September, when he removed
he public deposites, have hern aware that such would be the
esult of his further investigations, and that since the public
deposites would naturally and gradually be lessened between
he 1st of October, 1833', and the 31st December, 1834, from
near ten millions to less than three millions of dollars, and
would probably be liable to a still greater reduction during the
'ear 1835, it was quite unnecessary lo order an immediate ro-
moval, in order to avoid the danger of their magnitude in the
pring of the year 1836. This single fact, thus officially an-
nounced the natural and gradual reduction of the public de-
tosites, in the course of Ihe present year, to less than three
nillions of dollars refutes all the arguments, of every descnp-
:ion, urged in justification of that measure.

The second reason assigned is, however, of a more complex
nature. Th secretary is of opinion, that Ihe superior credil of
:he notes of the bank of the U. States is occasioned altogether
ly the provision in the charter to receive them in all payments
to the United Stales; that they will be subject to an immediate
depreciation at the expiration of the charter, and ought to be
previously and gradually withdrawn; and that the same engage-
ment in favor of the notes of any state bank wouM give them
equal credit, and render them equally convenient. And he
considered the immediate removal of the public deposites ne-
nessary for the double purpose of preventing the inconvenience
of the sudden withdrawing of the whole circulation of the
hank of the United Slates, when its charter shall expire, and
of preparing in time the substitution of an equally sound and
uniform currency to be furnished by the state banks.

The committee is of opinion that the superior credit enjoyed
by the notes ofthe bank of the United Stales is due principally
to the general confidence in its management and solidity; lhat
they have occasionally, in the interior districts of country, a
greater value than the notes of specie paying local banks; not
for local payments hut as remittances to the sea ports; ami
that the principal'effect of their being received every where in
payment of debts due to the United States has been to enable
the bank to increase the amount of its notes in circulation.
Those notes alone may, at the expiration of the charter, ex-
perience a depreciation, which being payable at distant places
in the interior, may at that time be found in the sea ports, un-
less the hank, as is probable, should find it their interest to pay
Ihem wherever Ihey are presented.

Rut the obvious mode to lessen the gross amount of thee
notes would he a repeal by congress of the provision which
makes ihem receivable in payment of debts due to the United
States. The removal ofthe public deposites, by compelling the
hank to curtail it discounts, and only on that account, has an
immediate effect on the amount of its private deposites, hut
cannot alone have the slightest on the circulation of its notes.
We find, accordingly, that while the individual deposites of the
bank have been lessened between the 1st of August. 1833. and
the 1st of February, 1S34 by a sum of near three n, illjons and a
half dollars, the nett circulation, as appears by the following
table, has remained the same.

Loans and piMie inrfirM'/ nett

rfic*f.s. rfrp'ts. rlrp'ts. rirciilntinn.

1833, 1 Aug. ,(54. 160,000 $7,600.000 $10,153,000 $18890000
Sep. 62.653.000 9.186.000 9.457.000 18.413,000
Oct. r.O.OO^.nOO 9.869,000 8.009.000 19,128,000
Nov. .VT.-1IO.OOO 8,233.000 7..5.0i)0 18518000
Dec. ft4.453.000 5,109,000 6.827,000 18651000
1831, Jan. 54.911.000 4.Q30.000 6,735,000 19205000
Ffb. 54,843,008 3,126,000 6,715,000 19,260,000
No effect whatever ha.* been produced by the withdrawing,
between the 1-t of October, and the 1st of February, public do-
pnsilcs to the amount of 0.743,000. If the removal can in no
way lessen tlie cirrulation.it was certainly unnecessary to re-
sort to that measure for that purpose, fiut it is worthy of
notice, thai at the very time when the curtailments by the bank
were alleged as a eau-e for the immri'iatp removal ofthe public
deposite^. the attempt should have been made to justify tint net,
on the ground thnt it was necessary for the purpose of les-i -ning
the hank circulation; and thereby compelling it lo le*sen still
more the amount of it discounts.

T|H> committee, will not. discuss here either the propriety or
the prartirahilily of the substitution, for a national, of an t exe-
cutive li:iiik, formed by the association of state bnnks, selected
for that purpose hy the treasury. Put if, an the secretary as-
sert?, the privilege of being received in piymenl of nil debt*
due to the United Sates is sufficient to render Hit notes of stale

N1LES' REGISTER MARCH -29, 1 834 NEW YORK REPORT.

result will be

Discounts on 1st August, 1833,

banks equally convenient, and entitled to the cairn- credit, as
those of the bank of tin; U. States, there was certainly no ne-
cessity for intermediate preparation. It was quite unnecessary
to remove, for that purpose, the public deposits, which at all
events must, within a year, according to the treasury estimates,
have been reduced gradually and without effort to a very mo-
derate amount. The state hank notes are nlwayst abundant
and ready; mid an act investing ilium with the privilege of being
received every where in payment of debts due to the United
States, and passed the month before the charier expired, would,
if the opinion of the secretary oftlie treasury is correct, at onee
brim; them into circulation, and effect the contemplated sub-
stitution. But if preparation were requisite, the removal of
the deposites was still unnecessary. There is nothing to pre-
vent, and the proper and obvious mode of effecting the object been discovered, a
is, an early act of congress to the same effect. It is not quite come undeniable,
certain that the executive is not of opinion that this may be
done by his sole authority, and without any legislatives action.
An anxinus wish and design to concentrate all the powers of
government in that department, and to snhj'-ct the public purse,
the currency and the commerce of the country to the will of
one man, is apparent through all the arguments and acts of the
administration in relation to that subject.

The curtailment of its discounts by the bank of the United
States, during the months of August and September 1833, ap
pears to have been alleged in justification only of the immediate
removal of the deposites. Those curtailments were evidently
made in anticipation of the proposed removal, and would have
ceased, of course, had the plan been abandoned. But it is ne-
cessary to observe that the pressure, which the secretary states
to have become so intense before the 1st of October in the
principal commercial cities, and the presumed curtailments by
the state banks, had no existence in the city of New York. It
appears by returns of the bank commissioners that the loans
and discounts of the fourteen city banks, under the safety fund,
amounted on the 1st January, 1833, to $20,742 ; 000; and on 1st
April ensuing to 21,180,000 dollars. On the 1st of October of
the same year, they amounted to 21,766,000 dollars: and the
increase of capital in operation between the 1st of January and
the 1st of October was only two hundred thousand dollars,
this being the amount added to that of the Butcher's and Drov-
er's bank. He was equally mistaken when he supposed that
the balances due by the city banks to the branch in the city,
would, on the 1st of October, amount to $1,500,000; and that it
was apprehended that the immediate payment of that balance
would be insisted on by the branch. The balances due on that
day to the branch by the city banks amounted to less than
602,000: and the apprehension of an immediate demand for
payment proved entirely groundless.

It must be kept in view that in nil that precedes, the com-
mittee hag assumed the position asserted by the secretary, that
the bank could not be rechartered. It is in that view of the
subject, and on that supposition, thnt the reasons assigned for
the propriety or necessity of a removal of the public deposites,
prior to the expiration of the charier, appear wholly insuffi-
cient.

It has indeed been suggested, that there was an intimate con-
nexion between the immediate removal ofthe deposites and the
non-renewal of the charter; and that to suffer them to remain
in the bank implied an obligation of rcehartering that institu-
tion. This assertion is purely gratuitous and altogether disprov-
ed by positive facts.

At this moment the state of Virginia expresses its opinion
that the bank is unconstitutional, and ought not therefore to he
rechartered, and reproves at the same time, in the most ex-
plicit terms, the previous removal of the public deposites.

A president avowedly hostile to the whole of our hanking
system, and particularly so to the former bank of the United
States, and whose term of office expired only two years prior
to the termination of its charter, never intimated a desire thai
the public moneys should be withdrawn from it, although there
was not at that time any law directing that the public moneys
should be placed in that institution.

Those deposites remained in that bank to the last, moment of
its existence. This circumstance did not prevent the refusal hy
congress to renew the charter, and was not alluded to, by any
of those who were in favor of a continuance, as a rcasun why
the bank should be rechartered.

The committee can see nothing in that assertion, but. an at-
tempt to divert public attention from the true question at issue,
and the admission that the removal of the deposites cannot be
defended 0:1 its own merits.

A curtailment of its discounts by the bank of the United
States was a necessary consequence oftlie withdrawing of the
public deposites. The author of this measure is responsible for
II the effects that may have flowed from the curtailments. It

the relations between the government and the bank, no one

foresaw the extent of the evils which have ensued. In the net
we only blamu UK; boldness of having minuci:- n :irily tampered
with the paper currency and eredii m the country. This hii-
porlant view of the' subject seems indeed to have entirely es-
caped the notice ofthe executive. Among the inquiries which
pieceded the removal, we see none that might huve elicited the
opinions of practical men on the probable effects of that mea-
sure on commerce and on the community at large. The in-
quiry was confined to the laudable, but secondary object of
ascertaining what conditions might br. imposed on the state
banks selected for collecting the revenue. Hut, if there is an
excuse Tor want of foresight, no apology can be found for ob-
stinately persevering in an erroneous course, after the error had
been discovered, and the fatal effect* of the measure had be-
onte undeniable.

The gross amount of curtailments made by the bank has not
in the whole much exceeded the decrease in its public and pri-
vate deposites. There are fluctuations depending on the sea-
son of the year and the course of trade. The fairest mode of
computation is a comparison of similar periods of the year.
The preceding tabular statement shows that the decrease in the

discounts amounted during the year to

$7, 01 0,000

and the decrease in its public and private deposites to 6,822,000
If the comparison is instituted between ihe l*t of August,
1833, when the discounts of the bank had reached the highest
point and it began to curtail, and the 1st of February, 1834, the

$64,160,000
on 1st February, 1834, 54,843,000

Decrease,

$9,317,000

Public and individual deposites on the 1st Aug. 1833, 17,752,000

1st Feb. 1834, 9,781,000

Decrease, $7,971,000

But the curtailments ofthe bank commenced in August, and
continued till the 1st of December, when its discounts had
reached the lowest point; while the revenue did not begin to be
collected by the state banks before the 1st of October; from,
which time the public deposiles have been gradually withdrawn.
The bank, therefore, did not decrease its discounts at the same
rate and in the same proportion as its deposites were with-
drawn. A comparison between the 1st of August and the 1st
of December shows the greatest amount of difference between
the respective decrease of each.

Its discounts were, on the 1st of August, 1833 $64,160,000

On the 1st December, 1833 54,453,000

Decrease $9,707.000

Public and individual deposites on 1st Aug. 1833 $17,752^000
1st December, 1833 11,989,000

Decrease only $5,763,000

The bank had in fact curtailed their discounts more than four
millions between the 1st of August and the 1st of October. It
cannot be doubted that this measure produced a derangement
in the business of certain sections of the country, and had its
share in producing the distress which afterwards ensued. But
that curtailment began only after the agent of the treasury ap-
pointed to make the preparatory arrangements for the removal,
had commenced liis inquiries. The object of his mission was
one of public notoriety; and it was a natural course on the part
ofthe board of directors, when they had lost the confidence of
the administration and were threatened with an early withdraw-
ing ofthe large funds belonging to the public in their hands, to
prepare themselves for the event, and provide in time Die ne-
cessary funds. It may be that the precautions were carried
farther than may now appear to have been strictly necessary.
The decidedly hostile altitude assumed by the executive, and
the necessity of protecting twenty-four branches against attacks,
which, if not intended, were at least threatened, under certain
vague contingencies, and, at a later period, the contingent
draught? and other circumstances, were calculated to impose
on the bank the necessity of effectually providing for its own
safety. The committee is perfectly satisfied that the executive
is wholly incapable of having countenanced any plan for disho-
noring any of the branches of the bank; nor do they know the
circumstances which led to the sudden call of more than 300,000
dollars in specie on that of Savannah. B.ut the fact is a matter
of great regret; and they must be permitted to say, that if this
blow had been successful (or if a similar one had been aimed
one month ago, at the country hanks of this state, and before
they were, prepared for the present state of things), it would
have IH-CII most fatal and might have been attended with a ge-
neral suspension of specie payments. Any premeditated at-

is Idle to sav that they have been greater than was expected, or tempt of that kind, on whatever pretence and by whomsoever
made'at a different time, or in a difivrpnt manner from what had made, must originate in gross ignorance of the system of credit

been anticipated. If it was impossible for the executive, or for
any human being, to foresee what the bank, under those circum-
stances, might be compelled or inclined to do, and the effect?
which its acts might have on the currency and commerce of
the country, that was a sufficient reason for not adopting with
precipitation a measure in itself wholly unnecessary. Rut we.
are quite satisfied that the result which has taken place was
not and could not have been anticipated by the executive. And
we believe, that although general apprehensions were enter-

which connects all the moneyed interests of the United States,
and in the detestable maxim, that the end justifies the means.
The banks selected for collecting the revenue after the 1st of
October, commenced immediately to extend their discounts;
and from an examination of their returns, it appears probable,
that the whole amount of discounts by all the banks in the U.
Plates, including that of the United States, has not in the ag-
gresate been lessened at any time more than four millions of
dollars since the, 1st of August, 1833. The committee is confi-

ined of the effect which might he produced hy that change in 1 dent that there has been no very sensible diminution since ilia

NILES' REGISTER MARCH 29, 1834 NEW YORK REPORT.

first of October, that it could not at any time have amounted to
six million?, that there has been a gradual increase since the
1st of December, and that the aggregate of bank discounts and
loans, including the purchase by banks of bills of exchange,
through the United Stales, is at this tune nearly, if not altoge-
ther, equal to what it was on the 1st of August, 1833.

These facts and all the symptoms of the present crisis clearly
prove, that it is not in the amount alone of lessened accommo-
dations of the bank?-, that we are to seek for the immediate
cause of the general distress; and render it highly probable that
the previous state of the commercial transactions and of com-
mercial credit made it liable to be disturbed by what may ap
pear comparatively slight causes.

Credit is indispensable to commerce, and to every species o
active business. To the proper use of credit, in supplying th
want of an adequate capital, the United States are in a grea
degree indebted for their truly astonishing progress in naviga
lion, commerce and the manufactures; for their stupendous in
ternal improvements'; for the stimulus given to agriculture, am
the price obtained for every species of agricultural produce; fo
the employment and adequate compensation of labor. But tin
abuse of one of the most powerful elements of its prosperity if
in this energetic and enterprising country, almost unavoidable
Successive years of prosperous enterprise hardly ever fail to
produce a further extension of business beyond the actual capi-
tal; and it may be that this was the case during the period which
immediately preceded the present crisis. There were, how
ever, no apparent symptoms of what is generally designated b>
the term of "over trading;" and the state of the foreign ex
changes has not given any indication in an excess in our im
portations. Still, and at all times, in no country, has the ex-
tension of credit, in all its forms, been carried farther than in
the United States. The currency of the country, founded on a
pecie basis generally too narrow for the superstructure, rests
almost exclusively on the confidence placed in the solidity o
the notes discounted by near four hundred banks of issue. A
similar disproportion is to be found between the actual capi-
tal of merchants, manufacturers, mechanics, and of almost
all men engaged in the active pursuits of life, and the amount
of their business. All those men are at the same time debtors
and creditors for sums generally far exceeding their respective
capitals. All depend for the ability of punctually discharging
their engagements, on the punctuality of each other.

The increased facilities of communication and inland ex-
changes have, within the last years, multiplied to an extent
heretofore unknown, the transactions, contracts and responsi-
bilities, between the several cities, and between the cities and
even the most remote parts of the country.

The regularity with which the enormous mass of engagements
resulting from those transactions spread over the whole coun-
try, and all intimately connected together, can be discharged,
depends entirely on an uninterrupted continuance of the ordi-
nary sales, payments, remittances and credits. The whole ma-
chinery, by which business in all its various branches is carried
on, is credit extended lo its utmost limits. Whatever lessens
the general confidence, on which credit it founded, must neces-
sarily produce a fatal derangement and interruption in every
branch of business.*

It is with this state of things, that, without any necessity or
investigation, the executive thought proper to interfere. The
bank ol the United States, from its capital and the ground it oc-
cupies, must, while it exists, act a prominent part in the com-
mercial concerns of the country. The measures which that in-
stitution was obliged to take for its own safety mud necessarily
have caused some derangement in the ordinary operations of
commerce. But the fatal injury inflicted by the executive mea-
sure, was its effect on general confidence.

The threat of the removal of the deposites, and especially
their actual removal, created apprehensions of danger, imme-
diately to the bank itself, and more remotely to all the moneyed
institutions and concerns of the country. Retrenchment at all,
and rigorous enforcements of its claim-; at some points, were
presumed to be indispensable to the safety of the bank; and the
extent being conjectural, was exaggerated l>y timid capitalists,
who, as a class, are perhaps more fearful than men of le.s
wealth. Men raw that the relations between the government
and the bank were thenceforth to be ho-tile; that between it
and the selected banks they were to be those of mistrust, nml
that without a national bank the stability and safety of the whole
monetary system of the country would be endangered. This
was the first instance in the history of our government of a di-
rect interference of the president with one of its officers, in the
performance of the duties which by law devolved exHusivi li-
on that officer. It was the more dangerous, as being made iii
defiance of a solemn vote of the late connress at their ln>! sex
pion; and as if with the intention to forestall the opinion of that

*Some notion of the magnitude of these encasements may be
formed by a view of those of this city. The statement annexed
to this report, shows the amount of the daily exchanges of the
banks, consisting of the daily payments for the 1st of October
and the 1st of February respectively, in the several bank-, in
notes of the other oily hanks, and checks drawn on HP|I I, , inks.
It does not include the payments made in paeh bank in notes of
that bank or in chpeks upon it. The medium of the two davs
about tour millions and .1 half a day nnd nddinc tin- pay-
ments omitted, may \>:i estimated ;lt ( j ve m j||j ollK ,| av or mo
than fifteen hundred of millions of dollars a year

which must meet within sixty days after the interference wa
made, and as if to encroach on its legitimate rights. But no-
thing could be more alarming to men of business, who rely for
the success of their operations, on that stability in those of go-
vernment which can only be guarantied by law, than unexpect-
edly lo discover that ihe commerce, the currency and the mo-
neyed inslitutions of the country, its credit, and their own cre-
dit and fortunes, were thenceforth to depend on the private opi-
nions, the presumed wisdom, and the arbitrary will of one man.
Other minor causes increased the apprehensions, and restricted
more and more the use of privale capital and private credit;
and the alarm became a panic, not dependent upon, or to be
explained as a matter of ordinary reason. The banks, indeed,
protected by the impossibility of exporting specie without loss,
have preserved their credit, and been enabled generally to con-
tinue their usual accommodations. It is private credit which
has been most deeply affected; and the leading feature of the
present distress is the consequent interruption, and in many
cases, cessation of business.

The importers diminish greatly their orders and their pur-
chases of foreign exchange. The intermediate wholesale mer-
chants, fearful to contract new engagements, are only anxious
about the remittances necessary to discharge those already con-
tracted. Those engaged in the exportation of the produce of
the country, doubtful whether they can sell the foreign bills on
which that exportation depends, give but limited orders for it.
The country merchants and the manufacturers are no longer
permitted to draw as formerly in advance on the cities for the
products of the soil or of their industry. Men with small capi-
tals, if at all extended, when disappointed in the remittances
they naturally expected, are crushed. New enterprizes and en-
gagements of every description are avoided, and, in many in-
stances, workmen are discharged, or a reduction of wages re-
quired. We state only what we see and feel. If correctly in-
formed, the effects of the distress are still more extensive in
other places. The actual evils are aggravated by general ap-
prehension, and the alarm may be greater than the true state of
things justifies: in every aspect of the subject, Ihe true and effi-
cient remedy consists in restoring confidence and credit.

It in obvious that the most prompt and effective mode of at-
taining thai object is to remove the cause of the evil; and that
confidence would be almost instantaneously restored, by re-
placing the bank, during the remainder of its existence, in the
situation it had heretofore occupied, and thus enabling it to re-
sums its functions to their usual extent. It is in the power of
the executive to do this at once; and the committee deeply re-
grets to find itself compelled to say that there is hardly any hope
of relief from that quarter. Our reliance is on the representa-
tives of the people in congress, in whom the power of ultimate-
ly deciding the question is clearly vested, and whose acts will
not, we trust, disappoint the expectations of a suffering com-
"nunity.

In the mean while, the committee intreats their fellow citi-
zens not to despair; and to reflect that there are limits to the
njuries which any administration can inflict on the people.
The usual channels of circulation are indeed obstructed; but
the productsof the national industry, though stagnant, are abun-
dant: the actual capital of the country still remains unimpaired,
:hough the nominal value of property is for a time lessened.
There is BO foreign pressure, and the skill and activity of our
iitelligc.nl merchants must, after a while, renew that chain of
operations which has been interrupted. The evil, through a
min fill process, is gradually working its remedy. In proportion
is no new engagement are contracted, the whole mass is daily
essened, and we must, after a period of severe suffering unne-
cessarily inflicted, be placed in a situation better adapied to a
new order of things.

Among the sources from which relief ere long may be expect-
d, the attention of the committee has been naturally turned
owards the bank of the United States. Since the object of ihe
jresidenl was lo cripple an institution which he considered as
pernicious, he must have calculated the extent of the injury
vhich that measure would inflict on the hank; and he mishi
lave anticipated that it would in one respect produce a result,
he reverse of that which it was his object to effect. The ex-
entofthe injury to the brink was to lessen its discounts eight
>r ten millions a year, and to cause a proportionate reduction
n its profits during the remainder of its existence; hut it might
lave been anticipated, and it was predicted by calm observers,
hat, though the bank might be annoyed so long as it remained
table greater treasury draughts than it was convenient (o pay,
he power of the treasury would he exhausted whenever tlie
irocess of withdrawing the public moneys should bi! at an end;
nd thai the hank, though deprived of the public depof iteg,
would still remain with great comparative strength, derived
rom il8 capital, its specie, its branches, and its superiority in
acilitating inland exchnnces. ft might therefore have been
ustly apprehended, that, according to the. opinion entertained
f the hank by the executive, that institution, no longer rpstrain-
d hy HIP fear (.Closing the publie deposit"*, and released frorn
very obligation to government, might exprl its power in a man
er most injurious to the community.

But thai power may also he exercised for the bet of purpov,....,
nd as ihe means of affording relief. Tliat such is the fact is
ow most clearly acknowledged both hy the clamor inppssantlv
lised against the line of conduct heretofore adopted by the
nnk, and by ibe lepeatpil declarations of the prpsident himself.
' It is indeed :i im>..t si n2 ,,| ; , r feature in the conduct of the rvei it-

WILES' REGISTER MARCH 29, 1834 NEW YORK REPORT.

live; after a most express declaration, that one of the avowed
objects of its measure was, to compel the bank gradually to
withdraw its circulation and reduce its discounts, (in order to
prevent the general distress that might ensue if this was not
done in time before the expiration of the charter), that those
who apply for relief should now receive for answer that their
application should be made to the bank; that is to say, that it is
not only in the power of that institution, but that it is bound to
relieve the community by an increase of its discounts. Leav
ing to others the task of explaining this contradiction, the com-
mittee is of opinion, that the time is not far distant, when, after
the remaining deposites shall have been entirely withdrawn, the
bank will find itselfin a state of perfect safety, which will ena
ble it, though with far less efficacy than if they were restored,
to resume to a certain extent its usual operations, and to afford
considerable relief to the commerce of the country: The per-
fect safety of the bank must necessarily be the primary object
of the board of directors. Our opinion, that a moderate exten-
sion of its accommodations, and a fearless application of its
means within proper limits will, at no very distant time, be
compatible with that object, is derived from a view of its liabili-
ties and cash resources at this time, as compared with its situa-
tion prior to the removal of the deposites, and with that of the
other banks at this moment.

The following statements exhibit the situation of the bank, on
the 1st of February and 1st of Aug. 1833, and on the 1st Februa-
ry, 1834; that of the banks selected to collect the revenue at the
last mentioned date; and that of a great portion of the hanks of
the Atlantic states north of the Potomac on the 1st of January,
1834.

Bank of the United States.
1st February, 1834.
Liabilities payable on demand,
Notes net circulation ........................... $19,260,500

Deposites and unclaimed dividends ............... 10,033,500

29,293,000
Capital .......................................... 35,000,000

64,293,000
Apparent surplus 8/943,000

$73,236,000

Cash resources,

Specie $10,523,000

Funds in Europe and foreign exchange 1,644,000

Due by state banks and notes of ditto 3,121,000

15,288,000

Loan?, discounts and bills of exchange 54,843,000

Real estate, banking houses, and sundries 3,105,000

$73,236,000
1st JJugwt, 1833.
Liabilities payable on demand,

Notes net circulation $18,890,500

Deposites and unclaimed dividends 17,951,700

36.842,200

Cash resource*,

Specie 10,024,000

Funds in Europe and foreign exchange 2,148,000

Due by state banks and notes of ditto 2,970,000

15,142,000
Loans, discounts and bills of exchange 64,140,000

1st February, 1833.
Liabilities payable on demand,

Notes net circulation $23,672,400

Deposites and unclaimed dividends 18,021,100

41,693,500

Cash resources,

Specie 9,046,000

Funds in Europe and foreign exchange 3,101,000

"Due by state banks and notes of ditto 2,447,500

14,594,500
Loans, discounts and bills of exchange 61,921,500

Approximate situation of the banks of Maine, Massachusetts , R.

Island, Connecticut, New York, Pennsylvania, Baltimore and

District of Columbia.
1st January, 1834.
Liabilities payable on demand,

Notes net circulation $32,550,000

Deposites 35,150,000

67,700,000

Sundry debts not on demand 12,300,000

Capital 96,076,000

Apparent surplus 5,814,000

181,890,000

Cash resources,

Specie $8,750,000

Due by banks 880,000

9,6JO,000

Loans and discounts 165,860,000

Real estate and sundries 6,400,000

181,890,000

Approximate situation of the twenty-five banks selected to collect
the U. S. revenue, from the latest returns to February, 1834.

1st February, 1834.
Liabilities payable on demand,

Notes net circulation $8,620,000

Public deposites 10,800,000

Individual ditto 9,940,000

20,740,000

29,360,000

Debts not payable on demand 1,200,000

Capital 28, 115,000

58,675,000

Cash resources,

Specie 3,000,000

Due by banks 2,670,000

5,675,000

Loans and discounts 47,711,000

Real estate and sundries 6,264,000

59,650,000

N. B. Various items are so blended in some of the returns,
that in attempting to separate them, some ertors must have been
unavoidable.

The views here exhibited affords on the one hand a conclu-
sive proof of the solidity of the bank and of the safety of the
public moneys while permitted to remain in its possession. But
it also shows that the ratio of the cash resources of the bank to
its liabilities payable on demand, was on the 1st of February
last as 1 to 1 9-10; while the same ratio was on the 1st Februa-
ry, 1833, as 1 to 2 8-10, and on the 1st of August last, as 1 to 2
4-10; while the cash resources of the northern banks to their
liabilities payable on demand is in the ratio of one to near 71-3;
and the banks selected to collect the revenue, and in which all
the power of the treasury is concentrated, are nearly as power-
less, since the ratio is near that of 1 to 5 1-5.

We admit that in ordinary times and with the great uncer-
tainty respecting the renewal of its charter, it would be expedi-
ent for the bank rather gradually to reduce than to extend its
discounts; but the present crisis calls for extraordinary exer-
tions, and the bank of the United States having, though uncon-
nected with government, a common interest with all the other
members of society in its welfare, and the same duties to per-
form towards the community which at such times are imposed
upon every other moneyed institution, will most undoubtedly
alter as far as practicable the course which prudence heretofore
dictated, so soon as it shall see itselfin a state of perfect safety;
ind provided that no new and unforeseen acts of hostility shall
:>e committed by the executive against it.

It i?, however, much less in the amount of increased accom-
modations by the bank of the United States, than in the confi-
dence which the fact that is has resolved to extend Us opera-
lions to a certain extent will inspire, that we look for some re-
lief. The amount itself, so long as the bank continues to be de-
prived of the public deposites and until it shall be able to re-
sume its ordinary functions, can he but moderate. It is evident
thai its discounts cannot be increased without a proportionate
ncrease of its circulation, or individual deposites, or without
es&ening its stock of specie by an equal amount. The increase
either of its circulation or of its private deposites does not de-
pend on its own acts: and, in the present state of things, it is
ibsolutely necessary, not only for its own safety, but for that of
all the state banks, and as the ultimate means of sustaining
through the crisis the general currency of the country, that the
specie in its vaults should not be considerably diminished. The
committee is informed that the bank has taken measures for in-
creasing the amount through the means of its foreign funds. It
does not appear from the situation of the banks appointed to
collect the revenue, that any measures have been taken by the
treasury with a view to that object: and we beg leave again to
nsist on the necessity, in order to render the whole amount of
.he precious metals in the country available, of passing without
delay the acts intended to make all the American and foreign
silver coins a legal tender, and to raise the gold coins to their
real value.

The committee is aware that, in order to restore public confi-
dence, more is wanted than temporary expedients, and is also
aware of the anxiety which prevails concerning the prospective
views of the administration in reference to the currency of the
country.

Without dwelling on the danger of recurring to hazardous
and premature experiments, at the expense of the community,
we will only siibmit some cursory observations on plans hardly
digested and which have not yet been developed in their de-
tails. Two have been suggested; a currency founded exclu-

NILES' REGISTER MAKCH 29, 1834 NEW YORK REPORT.

sively on tin: precious metals, or a paper currency consisting
exclusively uflliat issued by banks incorporated by tlie several
states.

It is not necessary at this time to discus? the respective ad-
vantages and inconveniences of a metallic and of a paper cur-
rency. It is evident tli.il the first could be established but gra-
dually, and at a considerable: expense; since llie purchase of
sixty to eiglity million- of dollars, in gold and silver, would be
necessary to supply tin: place of the existing paper currency.
But tlie banking system and its appendage of paper issues now
p'Tvailt-s every district of the union; and a total change in
the habits of the people must take place, In-run; the plan can
he carried into ett'ect. The impossibility of attaining the ob-
ject through tin: action of the revenue alone is palpable, and
result.-, from the immense disproportion between the mass of
payments for the ordinary and current business of the country,
and those which are etlVcli-d by the general government.

It lias alieady bi-en staled that the daily payments in the
banks of this city mummied to near live millions on the first of
October, and exceeded four millions on the first of February
last. This includes neither tile payments made in each bank
in its own notes, or in checks drawn upon it; nor any portion of
the retail business of the city, or of any of the other payments
made without the intermediate agency of the banks. The daily
payments, in this city alone, amount to at least live millions of
dollars a day. or near sixteen hundred millions of dollars ;i
year. The annual revenue collected in New York cannot now
exceed fifteen millions: and the action of government cannot
extend beyond it.* receipt* and us disbursements, that is to suy,
to more than than thirty millions of dollars, or less than one
fiftieth part of UK- whole. All that government could do would
be to accumulate, an amount of specie equal to the perma-
nent public deposites. It might, at most, establish a separate
metallic currency for government, by compelling importers and
purchasers of public lands to pay in specie, and by paying its
creditors in the same currency. But this metallic currency
would be used for that, and for no oilier purpose. It could
have no control over the general currency of the country, nor
prevent its depreciation, or a general suspension of specie pay-
ments. It might only enable izovernment, if such a catasttophu
should ensue, to preserve through the general confusion, the
public laith towards the creditors of the public. \Ve must
only aim at what is practicable: and the only rational plan, for
the present, must he, without excluding the paper currency, to
restrict it within proper limits.

The objects and expectations of the administration, in the at-
tempt to establish a sound currency through the agency of state
banks, have not been distinctly explained, and are not thorough-
ly understood.

If we recur to the past, we may say that the experiment was
already made in theyear 1811, at the termination of the charter
of Ihe former hank of the United Stales; and no disappoint-
ment, though some inconvenience was experienced in carrying
on the ordinary operations of government, so long as no un-
toward event disturb the ordinary state of things. During the
two or three ensuing years, no loss occurred in the collection
of the revenue, or in the safe keeping and transmission of the
public moneys. Hut the currency had been left to the sole con-
trol of twenty different state lejislatures; the mania of estab-
lishing new banks without restrictions, or under restrictions
purely nominal, pervaded the whole country, and terminated
in that suspension of specie payments, and ihe confusions in-
cident to it, which induced congress, in 1816, to recur again to
a national bank, with what success, for the purposes intended,
the event has shown.

The observation already made, with respect to the hard
money experiment, is applicable to that of establishing a ge-
neral, uniform and sound currency, through the aaency of Mate.
banks, in the manner which seems to be contemplated. The
action of the treasury is confined to Ihe collection and disburse-
ment of the revenue. Through those means, and yupposiii!:
that the plan should succeed, its effect, at the utmost, could
only he to regulate, by some special contract, the currency of
the few selected hank; this could have no control over the ge-
neral currency of the country, or to reslrk-l its amount in the
slightest desree. Hut to the plan itself there arc two insupe-
rable objections.

Although the terms upon which a contract shall be made
wilh any state bank selected for Ihe purpose, may be regulated
by law, the selection of Ihe banks from the necessity of the
case, and, according to the views entertained by the. adminis-
tration, the removal of the public moneys froin one bank to
another, must be intrusted to the discretionary power of the
treasury, or of the president. An executive will he substitut-
ed for a legislative bank, cubject to the abuses incident to arbi-
trary power, increasing the patronage of the executive, and
giving to the administration, not only a power ovr ihe public
purse not intended by the constitution, but even if it chooses,
that of interfering, in the most direct manner, with the private
concerns and interests of nien in buinei. To thai concentra-
tion of power in one man we most decidedly object. It is no
arpuinent to say, that thn power did formerly exist, and was not
mrt. Even U.* n , it proved iiltiumlelv ihe can.-e of a lorn
2! j e ? lwo nr "" {on "f dollars to ihe public, in what is called
the dead money in Uie treasury. We wish ever 1-. live under a
'ernraent oflHws, and not of men. The provision in the act
ornoranng the present bank, which designated the place
where the pablic moneys should be dcpositad, wan in every

e?pcet proper and salutary; not less acceptable to the secretary
if the treasury, who must always wish lo be guarded by law
rather than be clothed witn discretionary powers, than benefi-
cial to the public interests, by guarding against the danger of
the control of the public purse being convened into an engine
of power, if government should eve.r fall into improper hands.
\Ve have only lo lament, that, in order to guard against an
inauinary danger, the provision was expressed in such terms
as to have permitted the act of which we now complain.

But while the selected state banks shall he under the execu-
tive control in the manner above stated, they cannot he regu-
aled by either congress or the treasury, in any point connected
with the currency of the country, that may interfere with their
charters, or not be permitted by the laws of the stale.

The state banks are artificial bodies, deriving their existence
from the several stales by which they have been incorporated,
and subject lo the laws and lo the control of each state respec-
tively. They may, or may not, be permitted to accede lo llie
terms prescribed by congress, or by the executive, for becoming
the collectors and the depositories of the public moneys. If
any state shall think thai a compliance, on the part of the se-
lected bank, with the lesislative or treasury regulations shall
ntcrlVrH \vitli th banking system, or currency, which that
<tate wishes to maintain, it will forbid the bank to accept those
terms. Whether any bank may, on any terms, become a sub-
ordinate branch of the treasury of the United States, depends
entirely on llie will of Ihe several states.

It has been asked, ii the stale banks were deemed necessary
for carrying inlo effect the It-uitimrile powers of Ihe national
'government, whether Ibis was nol an admission that a national
hank was authorised by the constitution? But without discus-
sing the constitutional i]iieslio:i, it is impossible to suppose
that the government of the United Siat.-s is so constituted, that
it cannot perform it* most legitimate functions through its own
officers and agents; that, even for collecting its own revenue, it
is compelled to resort to stale in.-litutions. Why not at once
recur to the treasurers of the several states, and make them
sub treasurers of the United States? Should any one, startled
with such a supposition, charge us with having stated an im-
possible case, we reply thai Ibis is not a supposition, but a fact.
Among the banks selected by the secretary of the treasury ii
the Mobile branch of the bank of the state of Alabama. Neither
in that bank or its branches ia there a single individual stock-
holder. All the funds ar : furnished by the stale; the business of
the bank is carried on solely for the benefit and at the risk of llie
state, whose credit is pledged for the ultimate redemption and
payment of all noles issued, and all debts contracted by said
bank; and it is managed by a president and fourteen directors,
annually elected by a joint vote of both houses of ihe legisla-
ture. Whether the notes issued by that bank of the state are
not to all intents and purposes '-bill* of credit emitted by lhat
slate" it is nol our province to inquire; we only state the fact,
that the secretary of the treasury has selected as an agent of
that department, a branch of a branch of the treasury of one of
tin: states.

It is principally because congress either has not, or will not
exercise the power of regulating and restraining the currency
issued, under the authority of the several states, that resort has
been had twice to a national bank. Until a more direct and
etl'icient mode shall have been suggested, we niusl look to that
institution as the only means through which a sound and uni-
form paper currency can he issued under the authority of the
national government, and as the best instrument for regulating,
though indirectly and but partially, the whole currency of the
country; but no substitute will answer the purpose, unless the
power of congress to regulate the currency of llie states should
be admitted and exercised. We know from the experience of
nearly forty years, lhat so long as a bank of the United States
has hern in operation we have had a sound currency; and that
it was thrown into utler confusion, when left to the control of
lire several stales, each acting according lo iis particular views
of the subject. Experience has shown in what respects the
powers with which the bank was invested may be abused, and
what modifications may be necessary, in order to remove well
grounded objections, and, wilhoul lessening its utility, to adapt
it better to the wishes and the wants of the people. We ab-
stain al Ibis lime from any expression of the views of the com-
mittee respecting the several modifications which have hereto-
fore been suggested, as we believe the discussion would be pre-
mature, and the time unpiopitious for a calm investigation of
that important subject. In the mean while, and while the
question whether congress shall ultimately charter a national
bank remains in a state of uncertainty, "the intention of the
committee has been forcibly turned towards the banking sys-
tem and the currency of this state.

It is ineontestihlc, that the defects in the laws of the several
states on thnt subject, the excessive issues of paper by some of
the slate banks, and the consequences felt or apprehended to
ensue, furnish the strongest argument in favor of a bank of the
United States. It is highly probably that if at the termination
of the charier of the former bank, the several states, instead of
indulging the mania which prevailed for multiplying unrestrict-
ed bank*, had each passed the necessary laws for regulating
and restraining their own paper currency, the present bank of
th United States would nol hav been called into existence.
We are ready to adroit thnt even with a national bank, the co-
operation of the several elates would be highly useful, for the
purpose of establishing a sound currency throughout the whole

N1LES' REGISTER MARCH a9, 1834 NEW YORK REPORT.

country, so long as the power of congress to regulate it by law,
in a direct itiuniier, shall be either denied or not exercised. In
every view of the subject, it is highly important that the defect?
of our own system .should be corrected. It is not judging by
the result thai we are disposed to think it worse than that of
most of the other states. Tin: disproportion between specie and
issues isassretit in Massachusetts and Virginia as in New York.
But the affairs of our own stale are our own concern; and we
believe that, considering its population, geographical position,
wealth and commercial connexions, its example would have a
happy influence over the other slates.

The first observation we beg leave to submit, is the propriety
of repealing thai law of the stale which forbids every prr.-on or
association of persons, other than incorporated banks, not only
to issue any notes or bills and put them in circulation as money
(a prohibition equally proper and necessary), but which ex-
tends the prohibition to the "keeping of any ollice for the pur-
pose of receiving deposites or discounting notes or bills."
This last restriction on Hie common and legitimate use of pri-
vate capital, is, we believe, peculiar to the state of New York,
and is not to be found in the code of the other stales, nor in-
dued of any other commercial country. Instead of making the
lending and borrowing of money tor commercial purposes an
exclusive privilege, it is the policy of every commercial coun-
try, and far more consistent with the spirit of our institutions,
to set private capital free from any unnecessary restriction, as
the best means of producing competition, and of reducing by
natural means the price paid for the use of money.

We concur also in the opinion of the bank commissioners,
that the number of banks ought not to be increased but with
great caution; that the natural tendency of an increased num-
ber is to increase bank issues beyond what is nece>sary and
proper; that if any additional banking capital is wanted it is for
the purpose of increasing bank accommodations in favor of the
community, and not for that of increasing bank issues and bank
profits, and that for that purpose, the increase of the capital of
existing banks, so as to equalize as far as practicable that of
banks in the same locality, is preferable to the creation of new
banks.

We must add, in reference to that equality of capital between
banks in the same locality or placed under similar circumstan-
ces, that the only reason forgiving to the bank of the United
States its large capital was, besides the extent of territory over
which its operations must be carried, the necessity of investing
it with power urficienl lo check and regulate the issues of the
other banks. And the power was thus given, only because
congress was presumed not to have the authority of restraining
those issues, by laws directly applicable to that object. But
the states are under no such restrictions. They have the full
and unlimited power to regulate and restrain their own bank-
ing system, and the circulation of their own banks, to any ex-
tent and in whatever manner they please. There is, therefore,
110 necessity or reason for Ihe erection by the state, of a bank
with a capital superior to that of all its other moneyed institu-
tions, enabled thereby to govern and oppress all of them, and
obnoxious, without any apology for it, to all the objections
which have been raised against the bank of the United Slates.
Free competition as it now exists between the several banks, is
highly useful; and there are few things more to be deprecated
than a powerful moneyed institution, not merely regulated by
a general law, but kept in its operations under the immediate
control of government, and liable to be used as an engine by
those who administer government.

The laws of the state contain many provisions well calculat
ed to prevent and to punish fraud, and to ensure, so far as it
can be done by legal enactments, the ultimate solvency of the
banks. And the act, commonly called the "safety fund act,"
has provided for annual and intermediary investigations which
we consider as salutary, and which we wish only to see accom-
panied by annual, clear and complete statements of the situa-
tion of every bank subject to the provisions of the act. We see
indeed no reason why every bank in this state, without excep-
tion, should not be made subject to the same investigation and
publicity, and, to all the general laws of the state respecting
moneyed corporations, save only such as may impose the pay-
ment of any money, or render them liable to any moneyed re-
sponsibility, not within the purport of their respective charters.

But although gross mismanagement may produce some ex-
ceptions, it is not the ultimate insolvency of the banks which is
to be apprehended. The great danger to be guarded against if,
that general suspension of specie payments, which both imme-
diately and afterwards when such payments are resumed, is at-
tended with the utter subversion of existing contracts, and with
calamities which effect every class, and none more than the
poorer classes of society.

The fundamental and objectionable provision of the safety
fund act is that which lays" a yearly tax of one-half per cent,
on the capital of all the banks, for the purpose of applying the
pioceeds to the payment of any part of its debts, which any
bank, by its own misconduct, may become unable to discharge.

This tax is unjust, inasmuch as it renders banks responsible
for others over which they have no control: and in that it offers
a premium in favor of misconduct or unskilful management, at
the expense of those which are wisely and cautiously managed.
It is more particularly unjust in reference to this city; inasmuch

*The tax is for six years certain, and contingent for the en-
suing years until the charter expires.

as the lax is laid in proportion to the capital and not lo the cir-
culation. It will be seen by the report ol the bank commission-
ers Dial Ihe apparent circulation of the cily banks amounted on
tin: fust January la.-i to 4,909,000, and that of the country banks
to 10,500,000 dollars; while the tax being laid mi the capital, iho
city hanks pay annually more than 63,000 dollars towards the
fund and the country banks l.-s than titty-one thousand. The
disproportion would, it is true, be considerably less by includ-
ing the depostles. But the report does not enable us to state
the precise amount ol the aggregate of the circulation and indi-
vidual deposites in the city and country respectively.

What renders the tax still moie unjust, is the total want of
reciprocity. The notes of the city banks did not require the
guaranty of those in the country; and. so far from their circu-
lation being increased by th.tt provision, it has, in fact, been
lessened, within the city ilM-lf, by Ihe introduction of country
paper, to which the guaranty of the city bunks ha given an
artificial value.

It is this, last circumstance which, apart from its injustice,
renders the system unsafe and dangerous to the community at
large. Instead of suffering the circulation of each hank to rest
on the confidence lo which il was naturally entitled, each one
has been enabled to extend its circulation as far as its local si-
tuation permitted, without icgaid lo its capital, its resources,
it.s management, and to the degree of confidence to which il ia
entitled by all those circumstances-, and solely on account of
the artificial confidence aiising from the guaranty of more re-
sponsible institutions which has been created by the law. Hence
the extravagant issues of some of them, the disproportion be-
tween their specie and their issues, and the imminent danger of
suspension of specie payments which threatens the whole sys-
tem, whenever any untoward event, such as must necessarily
occur in the course of human affairs, may dislurb the ordinary
state of things. It is perfectly natural that every bank should
avail itself of the advantages derived from its situation, whether
natural or bestowed on it by the laws of the land. Each will
naturally try to increase its profits to the utmost limits;. We
find. .accordingly, by Ihe report of the bank commissioners of
the lOih day of March, 1833, thai, while the average dividends
of thirteen city banks amounted to little more than six percent,
those of seven of the banks in Albany and Troy were nearly at
the rale of eighl percent, and the average of the thirty-lwo olher
hanks, included in the report, was almost nine and a half per
cent, on their capitals. It is not to be wondered at that, under
such circumstances, perpetual applications should be made for
new bank.-; that they should be at last considered less in refer-
ence to their utility to the community, than as special favors
granted to the applicants; that there should be a perpetual and
unnecessary increase of new banks, and that, as has been con-
clusively proved by the bank commissioners, this should have
been. attended with a dangerous and immoderate increase of the
bank issues.

We think it, therefore, of the highest importance that those
defects in the existing system, which endanger the soundness
of the currency, and which may render the rechartering of Ihe
bank of Hie Uniled States, on any terms, absolutely necessary,
should be corrected; and the remedies for that purpose are most
simple and obvious.

They consist merely in restricting the amount of the loans and
circulation of each bank, by substantial, and not by nominal,
restrictions. The suppression of notes of a less denomination
than five dollars, we believe, is generally demanded. It will
have, among others, the great advantage of causing all small
payments, those for articles daily brought for sale at market,
and those for the daily compensation of labor, to be made in
specie, and of lessening the injury which the suspension of spe-
cie payments, or failure of any bank, always inflicts on the poor-
er classes. But this measure will ati'nrd but a partial remedy
against the general danger. The amount is variously estimat-
ed at one fifth or one fourth part of the whole circulation: but
no inconsiderable portion of this would be soon again supplied
by five dollar notes. We repeat, that the tru* and efficient re-
medy is only to be found in a substantial restriction on the is-
sues and loans of the banks.

According to the existing laws, the loans are restricted to
twice and a half, and the amount of bank notes to twice ths
amo -lit of the capital. The first restriction is insufficient; and
the last can hardly be called a restriction. There is no bank
which may not divide more than six per cent, if its loans are
limited to" twice the amount of its capital. Under proper ma-
nagement a much smaller amount is sufficient. The total
amount of notes issued by all the banks of the northern states
is less than one-third part of their capital. It will be seen by
the last report of the bank commissioners, that the gross amount
of all the notes issued, that is to say, the whole of the apparent
circulation of the hanks under the safety fund amounted to
15,400.000 on a capital of 22,700.000 of dollars. The dispropor-
tion between the liabilities and resources is to be found in the
extraordinary amount of issues by some of the banks. Il is not
for the purpose of enabling stockholders to make extraordinary
profits, but for the public good, that banks are instituted. We
are perfectly satisfied, that a restriction which would limit the
issues oOvi-ry bank to two-thirds of it capital, would be amply
sufficiPiit lo secure to each a dividend of six per cent, and, in a
great degree, to Ihe stale a sound currency, independent of the
acts of any other legislative body.

By the inetruction given to the committee at the public meet
ing, by which they were instituted, il became their duty to en-

NILES' REGISTER MARCH 29, 1834 NEW YORK REPORT.

deavor to effect an union of the chamber of commerce and thi
board of trade. This subject has been committed to a sub-corn
mittee, and has been brought by them to the consideration o
those associations. It is understood that no definite plan o
union has yet been agreed upon; but the committee trust, tha
as there are so many objects of great and mutual interest, somi
plan may be devi.-ed by which an efficient action and millet
efforts of both may always hereafter be secured, without th(
loss of any distinctive powers which either may desire to retain
ALBERT GALLATIN,
JOHN G. COSTER,
HUBERT VAN WAGENEN,
RUFUS L. LORD,
JONATHAN GOODHUE,
NATHANIEL WEED,
D. W. C. OLYPHANT,
JOHN P. STAGG,
JOHN W. LEAVITT,
PHILIP HONE,
THOMAS BROOKS,
EDWARD G. FAILE,
DAVID LEE,
JOHN HAGERTY,
FANNING C. TUCKER,
JAMES DOORMAN,
GARDNER G. HOWLAND,
CHARLES H. RUSSELL,
ISAAC CAROW,
JOSEPH KERNOCHAN,
JAMES BROWN,
JAMES G. KING,
JOHN A. STEVENS.

Before the preceding report had been read and unanimously
accepted, by the meeting (more than 3,000 in number)

John Ji. Stevens, a member of Hit; committee, came forward,
and, in the name of jilbert Gallatin, esq. their chairman, pre-
sented the report prepared by them. The advanced age and
feeble health of Mr. Gallatin, he trusted, would be a sufficient
apology for the absence of that gentleman, who was particular-
ly desirous on this occasion to meet his fellow citizens, and, by
his presence, bear testimony to the deep interest he took in the
present momentous state of affairs. Philip Hone, after some
preliminary remarks, read the report. Pelatiah Peril, esq. then
offered the following resolutions:

1. Resolved, That this meeting, concurring in the views and
opinions of the committee on the causes of the present distress,
its proper remedies, and the measures of alleviation they have
suggested, approved and adopt this report.

2. Resolved, That the city banks be requested to take into
earnest consideration the several propositions submitted to them
by the committee, and to adopt all the measures founded on mu-
tual forbearance and assistance, and on concert and harmony
of action, which may enable them to afford the greatest relief
to the community.

3. Resolved, That it be earnestly recommended to the board
of brokers to discontinue, in compliance with public opinion,
sales of stocks on time, in the manner proposed by the com-
mittee.

4. Resolved, That the thanks of this meeting be given to
the union committee for the faithful discharge of their duties to
this lime, and that they be requested to continue their patriotic
labors and to report further to a public meeting, or otherwise,
as they may deem expedient.

After some remarks by Mr. Peril, the resolutions were una-
nimously adopted.

Then the following resolutions, sent to the meeting by Mbert
Gallatin, esq. were proposed in his absence by John Ji. Stevens:

1. Resolved, That the removal of the public moneys from the
place where they were by law deposited and declared by a late
vote of congress to be perfectly safe, in virtue of th sole order
of the president, issued only two months before that body was
again to assemble, and with the avowed object of being enabled
thereby to interpose his veto, if congress persisted in its opi-
nion;

The unexampled interference with the officer to whom the
public purse is intrusted, in the performance of duties by law
exclusively assigned to that officer;

The appointment, during the recess of the senate, of a tem-
porary officer, for the special purpose of doing an act, which no
secretary of the treasury regularly appointed with the advice
and consent of the senate would have performed;

Are an abuse of the powers vested by the constitution in the
^resident, and encroachments upon the legislative authority of
congress, upon the laws and upon the constitutional participa-
tion of the senate in appointments to office, which, unless ar-
rested, must give to the president alone, the exclusive control
over the public purse, over the currency, and over private and
public credit.

2. Resolved, That these acts, and others of a similar descrip-
ion; the frequent and indiscriminate use of the president's

veto; his belief in bis own infallibility; his fixed determination
that his will alone shall govern; the avowal that, whatever that
may be, he must at all events, be sustained; or, in other words,
'that the king can do no wrong" the substitution of the worship
of a man for our ancient notions of entire freedom of opinion
and love of liberty, are subversive of the principles of our in-
stitutions, and lend, ultimately, leaving us hardly the name and
"onus of a republic, to convert it substantially into a monarchy.

3. Resolved, That there is a redeeming spirit in our free and
[lorious institutions, which guaranties their perpetuity; and 1 that,
or the true and only remedy, and with a perfect conviction of

ultimale success, we fearlessly appeal to "the people of th U.

States," pur and their own legitimate sovereign.

All which were unanimously adopted.

Hundreds of meetings of the people are yet just held
or holding to adopt various proceedings with relation to
he state of the currency, and effect a return of the public
leposites. They sometimes meet in huge masses. The
anti-bank meeting at Jllbany was succeeded by what is
said to be a much larger one on the other side; and the
spirit of it is running through the west with extraordinary
rapidity and force. Similar meetings are going on, es-
pecially in Massachusetts, Vermont, Rhode Island, Con-
necticut, New Jersey and Pennsylvania, and a good many
n Kentucky, Ohio, Virginia, N. Carolina, Mississippi,
jouisiana, Alabama, with some in nearly every other
state. The movements of the people have no precedent
n our country nor perhaps, in any other; but we regret
o beljeve, that, comparatively speaking, the pressure is
only just beginning to be felt. There already has been
some occasional relaxations, and others, it is to be hoped,
will happen, else "credit must perish, "and one wide
uin over-shadow the whole lnd which ought to be
iright and flourishing and happy, as it was until politi-
cians meddled -with the currency. '

JV1L.ES' WEEKLY REGISTER.

FOURTH SERIES. Ne. 6 VOL. X.] BALTIMORE, APRIL 5, 1834. [Vol.. XLVI. WHOLE No. 1,176.

THE FAST THE PRESENT FOR THE FUTURE.

EIIITED, PRINTED AND PUBLISHED BT H. JULES, AT $5 PER ANNUM, PAYABLE IN ADYANCE.

\JCj*We publish this week a large collection of scraps
illustrative of the present state of the currency and ol'tli
times useful for present notice, and important to th
history of "the experiment" that is making.

An abstinence from the publication of any long articli
this week, has given to the present number of the RE
BISTEII a great variety of articles, though most of therr
relate to the all-engrossing subject the state of the cur
rency, and the pressure on the money market. The spe
cial message of the governor of JVew York the accoun
of the great meeting at PhiladelpJua, and the letter o
Dr. JMacneven, will claim much attention. Dr. Macne-
ven is among the last survivors of the grand rally of the
Irish patriots, and of the associates of the Emmets, the
Orrs, the Tandys, the Keoghs, the Oitrrans, the Samp-
sons, the Tones, the Rowans and the JWoores, and others
a race of giants in intellect, with a purity of principle
and firmness of purpose, worthy of leaders in a sublime
contest for genuine liberty. In early life, we had the
pleasure of being personally acquainted with three or
four of those named, and considered them as among the
most splendid specimens of the human kind that we hac
ever met with. But Dr. JMacneven needs not our hum-
ble testimony of his devotion to democratic principle:
and the power which he possesses to support them, will
be seen in his letter.

It is added that counsellor Sampson, and others of like
high character and standing, agree with Dr. J\facneven.

Baltimore has met wifh two severe losses within a week.
On Monday last, the remains of Talbot Jones, esq. were
returned to the earth, and on Thursday night Alexander
JSroten, esq. died! These were two of our oldest and
most valued merchants persons beloved for their private
virtues, and esteemed for their public conduct. The
first was among the most extensive of our traders with
the interior; the second of the most important in our rela-
tions with Europe. It was the house of Jl. Bro-wn
Sons that took the late loan required by the state of Ma-
ryland of 500,000 dollars, and if he. the deceased, had
not moved in that business, it is said that 1,000 poor la-
borers on the Baltimore and Washington rail road would
have been discharged and, at a time like the present,
to suffer!

We present gov. Marcy's special message to the le-
gislature of New York, and submit it to the cool consi-
deration of our readers whether he is not at the "head
of the heap" of the "panic makers?" What is it? to bor-
roto money, in fact, on the credit of tlie state, in Europe
[!)Cf*foreiffn money!] to lend to the banks in the city of
New York, that they may lend to the country banks, that
they may lend to the people! If "all who borrow money
ought to break" here is a "pretty kettle offish," and a
big one too! And what are the "four or five millions"
proposed to be borrowed? As the "small dust of the
balance!" The banks in the city of Xew York have
lately increased their discounts 3^ millions, and the mo-
ney-pressure increases! And it will, until CONFIDENCE
is restored. We have money enough, and, with confi-
dence, would soon have credit enough.

[We have since received the report of a joint commit-
tee of the legislature of New York, to whom the gover-
nor's messnge was referred, and shall insert it next
week. It concludes with a bill providing for the creation
of a five per cent, state stock, amounting to six millions
of dollars, redeemable in twelve years. Four millions
of dollars of this stock is proposed to be loaned to the
banks in the city of New York, and two millions to be
sent to the loan offices in diffierent parts of the state, to
be loaned when the supervisors of the respective counties
determine that they are in need of such aid. It iilso pro-
vides for a bonnl of officers, See.
VOL. XLVI -Sin. G.

This novel and very important measure has, probably,
been already passed into a law! for the first section of
it was passed by the assembly before certain of the
members had had time to read the bill. For whatever
reason these things have taken plaee, we think thatevrrv
reflecting friend of a sound currency will view them with
alarm. The precedent is dangerous the practice alto-
gether unsound in our opinion; and we think that this
is a subject on which we have some right to have and ex-
press an opinion.]

We have received the officially published lists of
names attached to the petitions from Baltimore, for and
against the restoration of the public deposites. We ob-
serve many mistakes of the printer in spelling them
but they are unavoidable.*

These lists of names have been looked over, and we
note the following facts: to the petition for a restoration
of the deposites there are signed 183 business firms, of
which number 176 are known to us: on the other there
are only six business firms, of which only one is known
to us.

Of the first hundred names on the petition for restora-
tion, eighty-four are those of persons known to us and
of the remaining 16 there are several so misspelled that
we cannot surely identify them. On the other list, of the
first hundred names only twenty-two are identified a
being known to us.

Ot the last hundred names on the first list we know
fifty-one persons answering thereto of the last hundred
names on the second list we can, in like manner, identify
only seven persons.

Each page of the lists contains about 150 names. Let
us see how this sort of knowledge extends to some of
them, taken at random.

On the 2d page of the first petition we know one hun-
dred and seventeen persons and firms, as they are put
down: on the same page of the second list we know only
eleven persons.

On the 7th page of the first list we know 66 persons
on the same page of the second list no more than 8 per-
sons.

On the 12th page of the first list we know 93 persons
on the same page of the second, we cannot undertake to
say that more than three persons are identified bv us
:hough the name of "Martin Van Buren" is on this page!

On the first list one person has made his mark with an
>"i, and six names were "illegible:" on the second, 24
are marked with a cross X, and 27 are reported "illegi-
>le" six being in "German."

The last petition has the names of "Geo. W. Freas,
esq." "Stephen Gates, esq." and "John Freas, e$q,"
We have not the pleasure of being acquainted with either
f these esquires.

Such are the results of a hasty examination. We do
not pretend to perfect accuracy, but are sure that no great
mistake has been made.

We have been doing business in this city since 1798,
nd came hither permanently to reside in 1805, and have
mixed much with the people since the latter period. We
efer to individuals, in both cases, that are personally
inown to us, or whom we otherwise know are in the
'land of the living," and can be found.

If the decision of the question concerning the public
leposites were left to the judgment of the business-men
)f Baltimore, at least seven-eighths would say, restore
hem! And if, with the knowledge obtained through ex-
icrience, they were called upon to decide, shall the de-
osites be removed? we think that 49 out of every 50

It is impossible to (It-cypher many signatures for many, like
r^rlves, have acquired a wrrtehed habit of making certain
rfrs, standing for our names, that are unintelligible to persons
lot familiar with them.

NILES' REGISTER APRIL 5, 1834 MISCELLANEOUS.

would give a loud and emphatic negative. Indeed, ve
can sincerely say t!i;\l we have not met with n single man
who, when pushed ta give an honest answer, that has not
pronounced the measure an unwise one a "mistake;"
but, as it was done, why // couldn't be retired from,
some said; i. e. the party must not -waver in a course ad-
mitted to be unwise, though ruin shall folloio a perseve-
rance in it\ By hus'mess-men we mean merchants and
other dealers, shop keepers, mechanics, of all sorts, em-
ployers and journeymen, artists and trades-people pro-
perty holders and rent payers, anil all persons who have
had a settled home and citizenship with us two years,
excluding however office-holders, who feed at the public
crib, and t!ie miserables who hope to get their share of
the fodder for all these like "mother Carey's chickens,"
lean, lank and hungry, delight in the storm. Il is their
"glory" to be in the whirlwind! they have every thing
to hope tor, and not/ting to lone.

Mr. Me Kim represents the 5th congressional district,
which is composed of the five first wards of the city of
Baltimore, and the county of Anne Arundel. At the late
election the votes stood thus

JMcKim. Stewart.

5 wards of Baltimore 2,049 1,678

A:me Arundel county 1,132 1,114

3,181 2.792

Now an instruction has been forwarded to Mr. jilcKim
that ha shall vote fora restoration of the public deposites.
The exact number is not known to us but it has been
signed by more than 3,300 -voters of the district not per-
sons who appear on an election-day and are not there-
after at all to be found; but individuals who have fixed
residences with us, and probably being not less than
three-fourths ol the business-men, with the same propor-
tion of the stationary and regular working people, me-
chanics or farmers, &c.

The committee who had this matter in charge, are ho-
norable men. They personally obtained most of the names
subscribed, and declare, that, to the best of their know-
ledge, there is not one person on the list who is not a voter
of the district and, as the vote, as stated above, was a
high one, (5,973) it unquestionably appears that there is
a clear majority of several hundred votes in favor of a
restoration of the deposites,* and yet several populous
districts had been neglected by those who had them in
charge. Indeed, we understand that in the 3,300 is not
included any names from the city of Annapolis, and from
a whole election district of Anne Arundel county.

[P. 8. As this paper was going to press we nre told iliat the
figners of lh<: instruction, compared with the whole number of
votet shew a majority of 715! Others lists were expected.]

The New York papers are filled with accounts of ward
meetings, and meetings of different trades, or callings,
to bear upon the ensuing election of corporation officers.
Never before were such movements made in that city!
For instance, a meeting of the carters opposed to the
removal of the deposites, See. was called by 300 or 400
of them, the numbers of whose carts being attached to
their names and there has been such another call and
meeting of landlords and seamen another signed by one
hundred and eighty stone cutters, &c. &c. Powerful
committees have been appointed on both sides for an
example, the anti-Tammany carters have appointed a
committee of twenty to attend the polls of each ward,
(dressed in their frocks), during the whole period of the
election; and it is recommended that the friends of a re-
storation shall close their stores and work shops that they
may attend to the business of the election! The "Tam-
manies" are equally busy. They have the benefit of an old
organization the respect of party for "regular nomina-
tions," an army of officers of the U. States, and of the state
and city of New York of about 1,/itK) men, \\lio have
many dependents, whose persons and fnirtes arc at the
command of the party, and the "spoils arnoant to a mil-
lion of dollars a year! All these will bu on "duty."
Besides this the "Tammanies" have that powerful in-

Wliole number ol votes 5,973 the hnlf of which i< 2,986, or
lp9 by 300 than tin- number of the sign.'rs. Tin} ilisirid- n<>(
heard from might have n#ily furoUhed from 4 to 500 good
namw.

fluence which proceeds from the possession of fomer
majoritiesof about sixthousand votes. Mr. I'erplanck, late
a member of congress from that city, is the candidate of
the "independent democrats" for the mayoralty, and Mr.
Lawrence, a member of the present congress, will be
supported by the "Tammanies." Mr. Lee, the present
mayor, declined a poll.

The excitement is not confined to the city of New
York. Great masses of the people have met at Albany,
Troy. Utica, Rochester, and, indeed, in most of the
chief towns, and warmly expressed their feelings against
the removal of the deposites, &c. , and the local elections
held in Poughkepsie, Hudson, Newburg, Schenectady,
Rliiuebeck, ClaVerack, Lansinburgh, Sic. shew the effect
of this excitement. The first for example, had a "Jack-
son" majority of 150 last year, now of 144 anti-Jackson.

At one of the great meetings lately held in New York,
fifteen associations of different mechanics, &c. connected
with commerce, sent in resolutions against the measures
of the general and state governments.

A friend has asked, why we fixed the commencement
of the "experiment" as the period at which we supposed
it possible the hank of Maryland might fail any day, as
stated in our last say ing that its issues had long before
been excessive. In return, we said, "We also so be-
lieved but until the removal of the deposites, money
was 'plenty,' and confidence great; and, in case of a pres-
sure, it was easy to obtain redeeming funds on good secu-
rity offered: soon after the credit of the best of our citizens
availed little, and money became scarce." We reasoned
on this subject as Mr. Duane had done in his letter to
the president of July last though then we knew not that
such a letter had been written but supposed that every
one who had considered the nature of the currency held
the opinions which we oftentimes freely expressed, and
also acted upon, to a considerable extent. There are
several who will bear testimony that we cautioned them
against entering into new engagements to pav monev,
if rightfully to be avoided until the effects of the re-
moval of the deposites should become manifest to them.

The pressure on the money market does not arise
from any real scarcity of money, nor has it any sort of
connection with the management of the affairs of the bank
of the United States unless local. 1. The specie capi-
tal has, probably, been increased more than two millions
since the 1st October last, and there is no demand for
money abroad, exchange being really 8 or 9 per cent, be-
low par; and besides, the reduced price of almost every
commodity has lessened the want for money to make
purchases, in the amount of tens of millions of dollars.
For instance, a cargo of 1,000 barrels of flour may now
be obtained for 4,000 dollars, which would have cost
5,000, a little while ago and t ,000 dollars less of money,
or credit, is needed to carry on ibis small operation; and
when we regard the diminished value of cotton, tobacco,
rice, lumber, &c. See. it may be easily believed that;no?it/
millions less are now needed than svere required before
the "experiment" began. This is a matter of consider-
able importance, and the political economist will easily
appreciate it. 2. But while the bank of the United
States has increased its circulation, and the line of its
discounts is not reduced so much as that of its deposites,
it appears l>\ the report of the New York committee, in-
serted in the last RKKISTKH, that the banks in that city (for
an example) including the office, have increased their
loans more than 3,500,000 Feb. 19, 1834 being com-
pared with 1st October, 18.33.

Why then is money "scarce'" It is because con-
fidence, the corner stone on which a wholesome cur-
rency rests, has been destroyed by a wild "experiment,"
and the hostile attitude \t hich "the government" of the U.
States has assumed against the bank; wlnrehy industry is
paralyzed, m.-w enterprises abandoned, the Circulation of
money n-ndered a sluggish one, and a thousand bankrupt-
cies happened. And so it is that though money is really
more plentiful than it was in October last, and though
much less of it is needed to carry on the operations of
business, than before the removal of the deposites there
dues not appear to he a circulating medium sufficient to
satisfy the common wants of the people!* We foresaw

'Thi- paradox is sulvcd in the ej/'tcl before us.

WILES' REGISTER APRIL 5, 1SS4 MISCELLANEOUS.

these things they appeared as plain to us as they Ap-
peared to Mr. Duaiie* and on this principle it was that
we thought a failure of the bank of Maryland miff/it hap-
pen on any day since the 1st October, 1833.

By the vote in the senate on the 28th nit. see page 88,
it will be seen that Air. 'fancy's reasons for removing
the deposites would have been pronounced "unsatisfacto-
ry anil insufficient" thirty to eighteen, had Messrs. Hell
and Chambers been present, in the senate! We are in-
clined to believe that never before since the organization
of the government of the United States, has so large a
majority appeared in the senate against any leading mea-
sure of the executive branch of the government. And the
present senate has a decided majority of those who -were
among the powerful supporters of the first election of ge-
neral Jackson to the presidency.

Th history of the existing administration bears an
extraordinary character one that has no parallel in our

*Tlie 4lh letter of Mr. Duanc addressed to the people of the
United States contains a letter from him to the president dated
July 10, 1833, from which we make the following brief extracts
n purl of which we have taken the liberty to present in italics.

"Credit, like female fame, is of such a peculiar nature, that
its blossoms may be blighted even by the breath of inquiry; what
then, might not be the consequence of the blast of the indigna-
tion of government against an agent, in "hose interest it was
itself so deeply concerned? Much more tricial changes than that
proposed by the president, hare produced great commercial con-
vulsions. Such a measure, as is urged, would he regarded by
the hank, so decidedly hostile, as to ati'ord ii an excuse to shake
the fabric of credit, for the purpose of throwing odium on the
government, and producing a persuasion, that in the extension
of the charter would be found the only remedy for the mischief.
That it would not hesitate to do so, the president believes that
it ought not to have an excuse for doing so, the undersigned is
tain.

'It is, indeed, mentioned, in the letter of the president, that
the United States bank will not be able to effect any such pur-
pose. But the undersigned is not satisfied, that an institution
with so large a capital, with branches at so many important

certain.

points, acting with one accord, and for a single end, with specie
equal to half its circulation, has it not in its power to affect the
operations of local batiks, with specie equal to about a sixth o
their circulation only. If the bank is really so harmless as this
part of the president's letter supposes, then the alarm that the un-
dersigned has at all times entertained, at the existence of such a
power, is unfounded, and one of the most serious objections to the
renewal af the charter is obviated. But the undersigned is not
nble to arrive at such a conclusion; he is convinced that it is in
the power of the United States bank, so organized and so se-
cured, grievously to affect the local banks and the community;
the undersigned thinks that the trial ought not to he made.

"Beyond doubt, the power of the United States bank to con-
trol the local banks, and, through them, masses of the people,
and through those masses, some of the constituted authorities
of the country, is of such a character and tendency, as to ex-
cite alarm. But the very existence of such a power teaches ex-
treme caution such an adversary should sain no advantage from
an abortive experiment to limit its influence.

"The struggle, to be made, is not to see, which can do the
other the most harm, the government or the hank. The govern-
ment has hnt one duty to execute, to inform the people and
their representatives of the apprehended danger. It is not call-
ed upon to maim the bank, lest the bank should muster the
country. In any attempt to maim, the aoents of the bank would
be those likely to escape: the wound would he felt in the cottage of
the farmer, rather than in the palace of the banker.

* ; On the other hand, if the suggestion of the president is
sound, that the United Stales bank dare not operate oppres-
sively, because the state banks having government deposites,
might run upon the branches, then there is a check at all times,
in the hands of the government; and the bank, during its legal
existence, will be careful not to do or omit, what might warrant
a total removal of the deposites.

"So that the United States hank is represented fty some of the
local banks as an engine so pan-erf ul as te be tin object of universal
alarm; and, the next moment, so utterly feeble, that by the simple
operation of a treasury order, the entire branches may be broken
u;i one after the other, and the paper flung upon them in masses,
which they mil not be prepared to redeem! Which of these is
the true picture? If a treasury order has such talism.inic in-
fluence, can there he a better pledge for the safety of the public
deposits? But, if it has no such power, is it discreet to com-
mence the war? In nil such calculations, as those referred to,
the flinging back masses of bank paper, and breaking up th^
branches, are items, that seem to have caused no compassion
for the ultimate sufferer*. It appears to have been forgotten
that a larye portion of the ood and pnre people of the Ininl >'-nntr
he ruined and why mined! brcnnp the government of thci
country hnd put the power to ruin them in the hands of corpo
rations, intent alone upon their own nssrnnrJlBoment! Whctlip.
it is wise to make such experiments, the undersigned, with con
fidence respectfully submits."'

nnnals. The vice president, with the secretaries of state,
war, navy and attorney general, and we think, also, the
inst master general, (which takes in ail the "cabinet pro-
per," except the secretary of the treasury), were of those
who most decidedly rejected the "pretensions of Mr.
Jackson"* in 182i but the latter supported them out of
opposition to Mr. Adams, because that he, in the opinion
of Mr. Taney, had deserted the federal party; and, if we
are not mistaken, there is not, in what is called the
'kitchen cabinet," more; than one "original" friend of
the general! The "eleventh hour men" have gathered
the "spoils of the victory" gained. And of the eighteen
senators who voted on ihe occasion above stated, we can
count up five or six, and, perhaps, there are more, (for
we do not know the original opinions of several of them),
who stood in the same hostile position, even at the elec-
tion of 1 824.

And again with the exception of the "force bill,"
which depended on other considerations than such as re-
lated to the support of the executive, (for it was earned
by the votes of the opponents of the administration), only
one favorite measure of the executive (the Indian bill)
has been sanctioned by congress, and that by a weak ma-
jority (obtained we shall not sav how), though in both
houses there were large majorities of loud and lusty pro-
fessing friends of the president. The exercise, however,
of the hateful and despotic power of the veto, a power
which a king of Great Britain has not dared to exercise
for centuries, has placed the will of the senate and house
of representatives at defiance, with respect to certain of
the most important acts ever passed upon by these legis-
lative hodies;t the first representing the states and the se-
cond the people.

Every one may make for himself reflections of the sim-
ple, but singular, facts presented. Never since constitu-
tional governments began has the like happened before
never will they happen again.

With the result above stated, will Mr. Taney restore
the deposites, or retire from the place which he holds?

It is stated in the official "Glohe" that the president
will not receive any more committees, sent by the peo-
ple to carry their petitions to Washington, praying for
relief from sufferings inflicted by the acts of "the go-
vernment." And on this subject the "by authority" pa-
>er, at Philadelphia, the Pennsylranian, observes
"Would not the uses to which the bitter enemies of the pre-
ident pervert every thing which falls from his lips, justify him
n closing his doors against the intrusion of the vulgar herds
that daily infest his apartments?"

Who is the editor of the "Pennsylvanian?" a foreign-
r or a native? We must suppose the former, and of a
resh importation, and hardly naturalized certainly not
civilized. "Vulgar herds'" of the people !|

* Albany Argus.

fAII the great Pennsylvania measures have gone by the
joard

1. Internal improvements;

2. The protection of the national industry:

3. The bank of the United States;

4. The public land bill, as proposed by Mr. Clay.

All which had had the almost unanimous support of the poli-
ticians, as well as of the people of the slate.

The 1st, 3d and 4th were put down by the veto of the presi-
dent the -3d partially yielded because of a justly entertained
belief that the party in power would wholly destroy it.

J Doc tor Franklin in hi* historical review of Pen nsy Ivan in,
holds the following manly and spirited language, in relation to
the refusal of the proprietaries to recieve "deputies from the
people who asked for a redress of grievances.

"No king nf England, ns we can remember has ever taken
upon himself such state, as to refuse personal applications from
the meanest of his subjects. Even sultnns, supines and other
eastern absolute manarchs will, it is yaid, sometimes sit whole
days In hear the complaints and petitions of their very slares;
and are the proprietaries of Pennsylvania become too great to
he addressed by thn representations of the freemen of the pro-
vince? If they tmjel not be reasoned with, because they have
aivfn instructions, nor their deputy because he has received
them, our meetings and deliberations nre henceforth useless,
we have only to know their it-ill and to ofcciy."

Dr. Fra* l;iin concludes his review with the following advice
to thn proprietaries, "that if they follow the advice of Reho-
honm's counsellors, they will, like him, absolutely lose, at least,
Mr nffrrtioni of HIP jirnplc. A hiss, which, however they affect
to despise, will he found of more consequence to them than
they setm at present to be aware of."

NILES' REGISTER APRIL 5, 1834 MISCELLANEOUS.

We are not disposed to find fault but claim, and wil!
enjoy, the right of uttering the thoughts of our heart, in
respectful terms, on all occasions. "Truth is a victor
withont violence."

Is it true that the acting secretary of state, and acting
secretary of the treasury, have not yet been nominated to
the senate? Did it ever happen before, that a congress
had beenybwr months in session, and two appointments by
the president, of officers of such high dignity, remain in
office, nnapproved by the senate? We think not am:
one of these important appointments, at least, would have
been promptly ratified, by the concurrent power, if it hac
been offered for approval.

If we regard lite power of the president, in the recess
of the senate, to appoint persons to office, as being abso-
lute it is not less clear to our mind, that, while the se-
nate is in session, such appointments are only acting, un-
less they are ratified. Such was the principle and prac-
tice of the old "democracy. "

The reduced price of commodities and of wages, with
the discharge of thousands of persons from employment,*
have a powerful tendency to relieve the pressure of the
money market on business-men but at the cost of pro-
ducers, farmers and other working people, in great sa-
crifices of private comfort and of the public good. Wheat,
at Zanegville, Ohio, was 44 cents per bushel, on the 26th
ultimo at Batavin, Ohio, 37^ cents flour at Cincinnati
275 @ 287; and the Hudson, (N. Y. ) Republican says
that two oi the cotton factories at Klnderhook have stop-
ped work that a large quantity of butter which had been
sent to New York from Poughkepsie, had been brought
back, because a market could not be found for it and
that hay had been sold in the city of New York at "two
shillings and six pence," that is, 3lJ cent* the 100, equal
6J dollars the ton adding that a quantity shipped from
Catskill and Athens, (towns on the Hudson river), had
been brought back. Bring back hay one hundred miles?
But such things must reduce the amount of money want-
ed at whose cost?

The state of things at Providence and its neighbor-
hood may be partially estimated from the following brief
notices of a memorial about to be presented to congress
from the mechanics and artizans, a convention of whom
(208 strong) was held a few days ago:

50,000 spindles are already stopped, and so have many
of the machine shops as for example, 2,475 tons of iron
was used in the last year, but the present rate is less than
350 tons per annum 300 men were employed in the fur-
nacesnow only 50. At this time last year, contracts
for lumber amounting to $70,000 had been entered into
now only t,400 dollars. The master builders are now
without contracts, and so sortli.

A profligate idea has been thrown out that if the senate
and house of representatives shall not agree on the time
of adjournment, the president will dissolve the "refrac-
tory" body! If so this is the last congress that will be
held under the present constitution. t

A Canada paper says "Under the monarchy of (England,
the right of petition is held sacred. However tumultuous, or
even danjerous the crisis, the avenues to the throne are kept
open that the voice of complaint may he heard. In Denmark,
we have been recently informed l>y Mr. Whcatoti, the, Ameri-
can charge, where the Government is an absolute monarchy,
the kin? holds open coilrt every Monday, where he receives
petitions and applications for redresses of jrievanees from every
class of the people, from the lowest lo the highest. All ap-
proach his majesty freely, and are received with the utmost
courtesy and attention."

*They ware often discharged by hundreds at a lime.

fMr. John Ciuiney Ad.im, in some late remark* in the house
of representatives, snid, among other thin;:-:

"It has, indeed, been freely surmised around this pnpitnl, and
circulated in whispers within this hall, that con-ire** itself it
not to be indulged with a session iinrca-miably long; but, when
the deliberations of the house shall be sufficiently matured, ac-
cording to the jii'lument of the chairman of the committee,
then, by hi* fiat they art: to cease, and as we have not had er-
nmptes sufficiently signalized with arbitrary power, a disagree
ment is to lie cot ten up between the two houses of congress, in
the result of which this homo the immediate representative
body of the whole people of tt,K union is to he nitide the ser-
vile instrument of ministering to another exercise of royalprc

The Philadelphia papers say We understand that the
Girard bank redeems the notes of the Union bank of
Tennessee made payable at the bank of Maryland; and
that funds amounting to 100,000 dollars have been re-
ceived for that purpose.

We lately published an article on the circulation of
values; and see it mentioned that at the Suffolk [Boston J
bank, the exchanges were eight millions in the last year,
of country notes only.

In former times, the fashion of bank-making was, that
those who had money associated that they might Itnd \\;
but the fashion has latterly been for those who have not'
money to make banks, that they liorroiv its credits! In-
deed, in times not long past, associations of knaves were
made, who, among them all, had not money enough to
pay for the paper and the plates for the purpose of mak-
ing it, until they had in circulation a sufficiency of their
own manufactured rags.' As the beginning of such
banks was rags, so will the end be. Are we not to have
another huge crop of "rag barons?" Well if so, we
are ready to fight them again !

In 1826, Martin Van Bnren, W. L. Marcy, B. F. But-
ler, C. E. Dudley, N. Sanford and others, the chief* of
what was called the "regency," very earnestly petitioned
the bank of the United States to establish * branch at Al-
bany; and, among other inducements, said that the loeal
situation of that city "would, in a great measure render
the bills of a branch established there the circulating
medium of the extensive regions whose produce would!
be brought to that market!" If the bank is an "uncon-
stitutional monster," these gentlemen, surely "commit-
ted" themselves wofully.

A letter from a gentleman of Ohio to the editor of this
paper, after speaking of the general distress, says "I
will state to you a single fact with regard to myself (and
I am only one of thousands in the same situation) I am,
and have been for several years, doing a considerable
business, and have now on hand 5,000 dollars worth of
wheat, at its average cost to me of 57 cents a bushel but
the best offer that I can get for it is 40 cents. The spring
season has arrived, and my means to continue business
are vested in wheat. Now I must submit to a loss of 850
dollars on my wheat, for which 1 have paid out my mo-
ney for no other reason than to gratify the of
persons in power; for no man of common sense can de-
ny that this state of things has been brought about by the
attacks of the government on the currency. But for this,
my business this season would have been as prosperous
as ever. "

Letters from Mr. Black, a senator, and from Mr. Cage,
a member of the house of representatives of the United
States, both from Mississippi, are published in the Nat-
chez papers, and shew the determination of both to op-
pose the administration in its projects concerning the
bank and the currency, kc. but neither of the gentlemen
hold out * hope (hat relief may be expected from con-
gress.

It is mentioned in the Pittsburgh papers, that reports
prevailed in Baltimore prejudicial to the credit of the
Merchants & Manufacturers bank. We had not, before
seeing the Pittsburgh papers, heard of any such reports.
The credit of the bank stands fair in this citv.

rotative. I am not disposed to give credit to idle rumors, of
which, there are, no doubt, now, us at all times, many in cir-
culation without this house, and sometimes within it; bin, from
what I have seen and heard this morning, I cannot but cast,
within iiiyx-ir, ominous conjectures upon the humiliating uses,
of which this house is to be miide the submissive instrument."
Mr. H'tHe, said "In the opinion of his honorable frVnd
"roin Missouri, (Mr. Ashley), that we ought to proceed to the
ippropriation bills, he could not concur. The moment these
iMU were passed, congress was no longer necessnrv lr> tht; "go-
vernment," and there wns n measure which iniehl ho resorted
,o which had been mooted and which would effectually pre-
clude all further disriusion. as the favorite remedy of the ma-
ority for that great evil, freedom ofdebntc. Bt need not be
nore explicit. Every one understood him.-'

NTLES 1 REGISTER APRIL 5, 1834 THE BANKS, CURRENCY, Stc. 85

We have astonishing' accounts of the product of certain
of the gold mines in Virginia! Some of the rock ore of
Mr. Boocker's mine is said to be worth from 250 to 300
dollars a bushel; other parcels weighing 100 Ibs. worth
1,000 dollars! The mining business is also said to be
good in North Carolina, as a regular employment.

The extra allowances made by the postmaster general
to contractors for carrying the mail, though often slight-
ly spoken of, have not yet excited much attention the
public mind being filled with other and more immedi-
ately important matters. The committee of the senate,
however, will soon present as full a view of the affairs of

f ten or

eleven different contractors in Virginia,\\\io have receiv-
ed about $60,000 for extra allowances, on contracts
which amounted to only about $90,000! One of these,
Mr. W. Smith, editor of a paper published in Culpepper,
has three contracts, for a compliance with which he was
to have received 8,100 dollars but the extra allowances
made him are presented in the sum of 9,550 dollars, or
nearly 120 per cent, for extra services!

It will be seen in the proceedings of congress, that Mr.
Elair, of the house of representatives from South Caro-
lina, is dead. He shot himself, in a fit of insanity. He
was one of the stoutest men that we ever saw.

the department as circumstances will permit.
The "Telegraph" of the 28th ult. gives list o

A young Baltimore mechanic named James Mills, made
a beautiful ascent from Federal Hill on Wednesday even-
ing last. It is thought to have been a more splendid one
than either of Mr. JOurant's but we are rather "used"
to such tilings. The balloon, and all the preparations
for the voyage, were made by Mr. Mills himself. He
ascended a little before 5 o'clock, and landed at ihe Bod-
kin 16 miles, in 70 minutes after his balloon was let-go,
without accident or injury.

Canada remains in a very agitated state- -the represen-
tatives of the people resisting and protesting against the I po.-ites:
acts of the governor-general, against whom they were
also preparing articles of impeachment.

Two Austrian frigates have arrived nt New York with
245 Polish exiles. They have come to us in evil times.
Thousands and tens of thousands of our own people are
hard put to it to get a living, and make heavy claims on
those yet able to do deeds of charitv. The Poles at
Harwich, in England, and Havre, in France, and also 212
who lately arrived at Portsmouth, Eng. on their way to
the United States, have obtained liberty of the French
government to settle in Algiers. There is a great field

truth is every where becoming manifest, thai it if the war of
politician! against the Lank of the United States, which hai
caused the oppression under which the people "groan."*

Petitions have been presented to the legislature of Pennsyl
vania, praying for the interference of the slate to prevent gen.
Jackson from assuming despotic power!

The best flour was recently sold at Maysville, Ky. at 2J dok
lars per barrel. Great consternation among the buoinepK men
of the west prevails, on account of the embarraasmeuu and re-
ported bankruptcies at New Orleans.

A committee of the common council of Philadelphia, ap-
pointed to inquire into the effect of removing the deposiles on
the interest of the city, shew a loss of the large sum of 312,304
dollars the cost of various bank and canal stocks in charge of
the city for different public purposes, being compared with the
present jirices of them. They also speak of the depreciated va-
lue of the real estate left them by Stephen Girard. They advise
that the city councils shall petition congress, praying for a res-
toration of the deposites, &e.

We hear of many more manufactories that have stopped
work in others a part of the working people are discharged,
and those who remain have submitted to reduced wages, which
are paid rather in a good feeling on the part of the employers,
than in a hope of profit.

The rates of exchange are rising. "Virginia money" is at 4
anil 5 per cent, in Baltimore, southern and south western 8 to
JO. New York (country notes) 6 to 8 per cent. Ohio (i>nod
banks) 10 per cent. Pennsylvania (interior) from 2 to 5. New
England 2A lo 3. District of Columbia 1 to 2 unsteady.

These rates of shaving are extensively paid, tor the people
must have "Baltimore money" to pay their notes, unless of the
hank of the United States, which is "current," llioush issued
t Portland, in the north, Si. Lour?, in the west, or New Or-
leans in the south.

In an interview of one of the committees, the president, on the
authority of "Henry Horn," of Philadelphia, who, as he said,
"could not lie," declared thai John A- Krown, et-q. of the city
just named, had been "bought up by the U. S. bank, with a
million of dollars." But the matter charged being totally taint,
and without a shadow of foundation, has given rise to a sharp
correspondence whieh will, probably, be soon laid before the
public. Somebody has "lied."

The following arc among the names signed to a petition pre-
sented by Mr. Luinbreleng, approving of the removal of the d-

for honest labor in that country >as well as military em-
ployment, if preferred.

At a great riot among the Irishmen employed on the
canal making near New Orleans, they had the presump-
tion to resort to force, and to fire upon the city-guard
sent out to restore them to order! They were quickly
fired upon in return, and some of them wounded and
23 leading ruffians were made prisoners. They had
committed very great excesses. Such poor men, made
mad by oppression at home 'too often have to be brought
to the necessity of submitting to the law in America. It
is a misfortune that they are employed in masses. Se-
parated, they soon learn to reason if disposed to listen
to its dictates. The time was when every good Jlmerican
citizen considered himself as a special constable to pre-

serve the public peace,
turn to us !

We hope that that time will re-

THE BANKS THE CURRENCY AND THE TIMES.

Among the curiosities, of the present times is the publication
of a letter signed Reuben M. Whitney, in which he denies a
statement made concerning himself by WILLIAM J. DOANI: !

Meetings of the people, because of the embarrassments of
their business and on account of the general ruin which seems
to impend, are yet holding, in undiminUhed numbers, and in
many cases attended by persons who were among the most fir-
dent supporters of the present administration. They assemble
in multitudes. More than three thousand attended a meeting at
Newark, N. J. and great movements have lately been made in
the rich and populous western counties of New York. The

Hilly Crthill,
Tom Noles,
Jim Crow. jr.
Teddy O'Rooke,
Dtift'Green not dcvl,
Col. Pluck,
Black Hawk,
Hurrah for Jackson,
Peter Pocuck,
Peter Parley,

Nick Corshoar,

Peter Goircrow,

Bull Burk, jr.

Port Luvi,

Bryon the Brave, king of Leinster,

James Twaedle,

Jirn Cunnon,

Tim Floomly,

Hugh Toughy,

Peter Scrap.

A Harrisburg paper says "The state loan, of n little more
than $729,000, was taken on Tuesday, by Mr. Most, of Phila-
delphia, acting as agentof tlie.Ro/AscAi/<is, of London. The pre-
mium given, is one fourth of one per cent, or two dollars and
fifty cents for a thousand dollars. The premium promise)] by
Dr. Burden on the same loan, was thirteen and fifty-one
hundredth* per cent. The premium now received, is about
$1.823; makings loss to the state of more than thirteen and a
quarter per cent, or a portion more than $96,564. ll is said lhat
the Messrs. Aliens, who purchased the loan of Or. Buiden,
will pay the difference to the state. Whether they arc obliged
to do it we do not know."

It is added, that the same party has offered to take the two
million loan which is required at one mill above par that is,
one dollar premium on 1,000, or 9,000 dollars in two millions!
The same, at this time last year, would have been gladly taken
at 130 dollars on the 1,000, or 260,000 dollars premium on the
two millions. So works the "experiment" for which the
politicians of Pennsylvania have changed one of the late most
cherished principles of the people of the state, and thrown up
their hats. The difference is nearly 350,000 dollars against the
people of the slate in one year. And yet, on the 21st ult. the
following resolutions passed the senate of the state:

"1. Resolved, That he present bank of the United States
ought not to lie reckaitered by congress.

"2. Resolved, That the government depositet which hare been
withdrawn fioin the bank of the United Slates ought nat to b*
restored."

The first of these wan adopted by a vote of 19 to 13 ihe
second by a vole of 18 to 14. A resolution offered as a suhsti
lute, to the effect that a bank of the United State* ought to be
established during the present session of congress, was lost U
voting for, and 21 against it. Two other resolutions for the r-

*Mr. Forsylh, of Geo. lately said in the senate, when speak-
.ng of the committees who had visitud Washinglon "Certaki
gentlemen who come here complaining of the public distress
may well be compared with a Methodist preacher exhorting bit
congregation groan.' sinners,' groan.'"

NILES' REGISTER APRIL 5, ib34 THE BANKS, CURRENCY,

charter of tlie bank and against the removal of the deposites,
were rejected ayes 10, nays 2:2. Another for making the bank
the depository ol the public funds, was nryalivtd by 20 votes to
12.

The project of establishing a (en million bank has, however,
been promptly put down in llic house of representatives of
i'ennsylvunia.

The "pressure" is only just beginning to be felt, as it were,
in the south-west; and many doleful letters are published from
Louisiana and Mississippi. A considerable amount, in draughts
of the Planters bank of Natchez, on one of the banks of New
York, have been dishonored and returned Hie solvency of the
drawer was not then doubted, but an instant regard to means
forbade accommodations. "Save himself who can, "is the prin-
ciple on winch the banks most commonly act, ami now must
act.

With respect to the petitions presented to congress, Mr. For-
tyth. lately said in the senate of the United States! "Our tables
axe loaded with miserable jietiliuns, got up by miserable means
and for miserable objects, and oiganized iu pot houses."

A large part of our trade will) China has been carried on hy
liills ot'tlif bank of the United Stales, drawn on London, which
were better than dollars, even at Canton, without considering
the risk and trouble and cost of their exportation; and with this
advantage also, that if the ship, wilh all on board of her, goes
to the bottom of the ocean, or is captured hy pirates, Sic. the
amount of sue It bills are still safe for the rightful owners. Such
was the credit of an institution which has been denounced as
an unsafe depository ol the public money!

The effect of the "experiment" on real property may be ap-
preciated from tiie following It is mentioned in the Lancaster
(Pa.) Examiner, that a two story brick dwelling house in that
city, within a few doors ol the court house, \vns offered at pub-
lic sale a short time since, and not a single bid obtained! A year
ago it would have sold readily lor five or six thousand dollars.
The like has pfVibably not occurred befoie since Lancaster was
u town.

It is stated that the work on the fortification, at Newport,
Rhode Island, has been suspended, and a great number of work-
aien tui ned adrift. While the work went on, there was a month
ly disbursement of about $12,000, a great part of which went
into immediate circulation in the town.

From what we see in the various papers received by us, it
would appear that tens of thousands of dollars in draughts,
drawn by certain of the local banks or others, have been pro
tested, within the period of the past month. We frequently see
the notice of fresh incidents of this kind. The stale hanks
cannot carry on the exchanges of the country. The "experi-
ment" has already most miserably and oppressively failed.

from seven to eight thousand spindles have been stopped ou
Fall Itiver.

The economical and, heretofore, thrifty state of Vermont is ir
a high degree ot excitement, on account of the general distress
produced by the measures of "the government." The late th-re
jiurlies in that slate are lapidly uniting into one, in u sense o
common danger.

The official "Globe," lately speaking of Mr. Duane, as secre
lary of the treasury, and with relation to the public deposiles
called him a "REFRACTORY SUBORDINATE," fur not do

ing, at the command of the president, that over which, tlic I,A\\
gave Aim the sole discretion! This is the ne plus ultra of inipu
ence a submission to power that a Russian boor might blusl
M.

H it supposed. that 35,000 bales of cotton less than in the las
year, will he consumed in New England, in the present.

The petition from the 3d congressional dislrict of Pennsylva
nia for the restoration , of the depo*ites, &.c. contained 4,67;
names, and was 240 feet 9 inches long.

One to two pe.r cent, premium is paid in Ohio, in exchange
of coin for the bills of lite, hank of the United States, and fou
per cent, in north Alabama!

BANKS AND THE CCRIlIiNCy MISCELLANEOUS.

| Deferred iicms.J

A late number of the Providence Journal contained ninety

nint applications, to the court of the county for the benefit of th

insolvent laws.

In the present emergency, many of the wholesale dealers o
Boston have entered into an agreement, not to sue for, or tak
security of their debtors, except in r.i.-ei, of clear necessity, an
then only for the benefit of all the parlies so associated.

The "Boston Couriur" with reference to a letter published i
the "Globe" as .if written at Boston, which says the "mom;
pressure is very much exasperated," observes "No accou
can exaggerate it. The types are not yet cast, thai can reprc
sent things worse than they really are."

Many and heavy failures are taking place. We have no hear
to give detailed aeeonnls of them. Tnere is another "sign
tht) times." It seems that the individual frauds of IHiy 20
are about to be revived b> persons in whom much tontidcnc
4ias been reposed.

Seventy piotesu were recorded in one bank of New York,
on the 3d ultimo.

The importation Of foreign goods will, probably, be very small,
this spring many orders have been countermanded, rind some
large lots actually sent back, rather than pay or secure thu du-
es upon them, in the "prospect before us;" and yet all sorts
f goods are very low, because of the appreciated value, and
revailing scaicity of money. Bills on England are U percent.
below par," as it is called that is 438 cents for the sterling,
le legal par being 480, and the average real par, for many years
ast, about 483.

In corroboration of the above, a letter from Manchester, Eng.
ecently published in a New York paper, informs, that "an im-
iense number of countermand orders" have just heen received
lere. These orders foibid the shipping of another piece of
oods and direct the sale of those that arc ready for shipment,
iid adds thai, us money is plenty in England at 3 per cent, the
writer hopes that it may be employed through private bankers
lithe United States. This would be a thriving business just
ow. Several millions sterling might be loaned out on the best
ossible security at 12 per cent, per annum, or more.

Ten new banking institutions with an aggregate capital of
!4,400,000, were incorporated at the late session of the If-uisla-
nie of Ohio. The bank of Kentucky, just incorporated, is lo
lave a capilal of rive millions. Indiana has also established a
tate bank. Very strict conditions appear lo be provided for
he good and safe management of these institutions. A friend
as transmitted to us a very interesting view of the organiza-
ion of the latter, which we shall yet endeavor to make a place

r, at a future day. A ten million bank is asked to be in-
*orporated in New For/c half of the stock lobe held by the
tate. The project is said lo embrace a borrowing of money
from foreigners. Oughl not such a bank to "break?" But if
ill persons who trade on borrowed capilal should break, how
nany dealers would stand firm? The members of the first con-
^re.-s and president WASHINGTON, were the lathers of the credit
system in the United Stales, hy allowing lime for the payment of
luties on goods imported, and the avowed object was to furnish
i borrowed capilal lo favor the merchants and dealers. And
even yel, though the period of the credits on duties has been
considerably reduced, the United States is a great lender of ca-
.lital for the duties pass into the value of the goods when sold
ly the merchant, in the >-ame manner as his own original invest-
ne.ui of money in them.

It is said that the safety fund banks are rapidly reducing their
discounts.

At Boston the tariff of bank notes was as follows on the 10th
nil. Bills of the banks of NVw England (generally) par bf
New York city 1 per cent, dieeou it, others of New York 3a5;
New Jersey 5alO; city of Philadelphia 2; of Baltimore 2; of the
District of Columbia 4. The eastern bankers deserve great cre-
dit for keeping their own notes at par all over New England.
It is not so in any other dislrict of country in which there are
many banks, though "specie paying."

A very large public meeting of the citizens and merchants of
New Orleans was held at the Planters' hotel, in that city, on the
evening of the 19th ult. S. W. Okey, esq. presided. The reso-
lutions, which weie adopted with great unanimity, state that
tin: "people of New Orleans, from a state of high prosperity, are
reduced to one of misery and distress, by the pressure on the
money market, which has depressed the value of produce and
ofrei.i property, and increased the rate of interest lo 18 and 24
per cent, per annum, which is grinding every portion of the
community, and, unless relief is soon afforded, must be produc-
tive of the heaviest calamities" and attribute this condition of
thin j-i to tin: unfortunate collision between the government and
the bank of the United Slates, and more particularly to the re-
moval of the public deposites. The New Orleans Bulletin
states that the assemblage was overflowing, and without dis-
tinction of party.

And a late letter says that some loans had heen negotiated at
five per cent, a month! And adds it is reported that the pay-
ments to be made iu this city, on or before the 3d day of April
next, will exceed two millions of dollars, and tn.it one million
of dollars are due on real estate in the city or suburbs.

A letter from Pottsville, Pa. published in the Philadelphia
papers, dated March 10, says "I have In en in business for
many years, but I never saw such times. There is no business
doing here. About two thousand men are looking for work,
and everything is at a stand. A great many men with their
families have to go to the house of employment to keep from
starving. Hands can be got for their boarding."

Thfi bank committee in the satiate of Massachusetts hava re-
ported that, in thr.ir opinion, it is inexpedient to grant any new
bank charters during the present session.

It is stated that "one bank in N. York \ in possession of two
hundred and forty houses that have suspended payment since
the removal of the public deposites.

The Philadelphia "Commercial Inlellieencer"obsnrves "we
have never been the apologist or champion of the bank of the
United states; but own that we are struck wilh surprise at the
blindness of those who piefer one hundred United Stnt-es hanks,
equally corrupt, and, as organized, far more powerful. Such

NILES' REGISTER APRIL 5, 1834 CONGRESS.

an engine will be enabled to rule the country with a rod of iron;
and it will be in the hands of those who will not leave it unem-
ployed."

The cotton planting states are beginning to feel the pressure,
and are holding many meetings, and petitioning lor relief; say
in Louisiana, Alabama, Mississippi, and some in North Caroli-
na and Georgia.

The N. Y. "Journal of Commerce" has lha following para-
graph We understand that specie has been imported fiom
France, which cost in Paris five francs and a quarter per silver
dollar, and lias been paid for in bills of exchange purchased
here, at a fraction less than five francs and three quarters for
a dollar. This calculation exhibits the actual rate of exchange
as nine per cent, in favor of this country. A favor however
which costs us rather too dear. At this rate a bill of exchange
on Paris which costs one hundred dollars in New York, will
purchase one bundled and nine just such dollars in Paris. Af-
ter deducting all expenses of freight, interest, insurance, &d.
there is good room for profit on the importation. In France at
this time, money is cheap and every tiling else dear. Here,
the opposite is the case; money is near and almost every thing
else cheap; especially ail manufactured articles, whether of our
own or other countries. But few articles in all the range of
fabrics of wool, cotton or silk can either be made or imported
at this time, and sold by auction, without a loss of ten to twen-
ty-five per cent.

JICT cent, yer annum; aiiu me ueinanu was lar irom ueing
lied at that precipitous usance. Fires acyuirit eundol

Doctor Franklin, in his will, providing a fund for loans to in-
dustrious young men, remarks:

[Franklin was a fool! The moment a man borrow
that he may make money, he "ought to break." It in the "un-
pardonable (political) sin" to doubt this and the proof is, that
no small number of the honorable ones who "glory" in this
principle, have acted upon it, and "punished" those who be-
friended and confided in them!]

Hundreds of manufacturing establishments have much redu
ed, or altogether slopped their operations. There would be a
great rise in the price of goods in consequence of such proceed
ings, if the people had the usual supply of money to pay for
them.

There have latterly been many arrivals of specie in the Unit-
ed States, and more may be expected, so long as bills on Lon-
don are nine or ten per cent, below par, and millions may be
safely invested in the United States at from one to two per cent
per month, or 12 a 24 per cent, a year! In this condition of the
country, specie will not be exported nor will itdo us mud
good. Of what consideration is ten millions in specie, comparc(
with the wreck of confidence and embarrassments of the banks
The chief part of the arrivals of specie has been at New Orleans
but the want of money is severely felt in that city and its vi
cinity.* And even treasury draughts on New Orleans have
been sold at 2 per cent, discount at Louisville and other places
on the Ohio; and notes of the bank of the United Stales are
worth from 3 to 4 per cent, advance at sundry places on the
western waters. One could hardly believe in this deranget
state of the currency, unless in the certainty of its existence.

If all who do business on a "borrowed capital ought to break,
the canals of New York and Pennsylvania should be filled up
as having been dishonestly made on borrowed capital, and no
yet returned. Let the wrong be quieted! Nay, the Unitei
States ought to surrender up their sovereignty lo his "most gra
cious majesty, William IV" for that sovereignty was won b>
the aid of borrowed capital. "Perish credit!"

The state of Maryland five per cent, loan of $500,000, bein
the state's proportion of the capital required for the construe
tion of the Washington rail road, has been taken, at par, by th
house of Alexander Brown if sons, of Baltimore; and will, mos
probably, fail into the possession of/oreiners, unless prevente
by the want of confidence in American stocks. Ought Mary
land to break, for thus borrowing money?

A gentleman residing near Carbondale, Pa. in a letter to th
editor of the REGISTER dated March 5, communicates the foi
lowing:

About six years ago, the Delaware and Hudson canal com
pany commenced operations in this valley at that time ther
only stood a solitary log house where now stands Carbondalt
which, last summer, had a population of 3,000 souls; and A
things were lively, and continually pressing onward. To th

*The "Globe" of the 10th has a paragraph which says the
the deposite banks at New Orleans, "in connexion with tl
branch of the bank of the United States," bnve increased the
loans in the ium of 3,189,666 dollars! Why is money "scarce?

ilarged and enlarging business of the coal company, was add-
d a great business doing in lumber, Sic. Now the prospect
In ail i- oppressive in the extreme, and hundreds of laborer*,
iners and mechanics are wandering about, totally idle, and
any of them pennylc-ss. The merchants cannot collect Ibeir
;bti, for the reward of labor is no longer to be found. Would
nt those who have caused thi.i changed aspect of things, (says
e leller) were present to witness the cflecl of their meddling*
illi Hie currency of ihe country.

The various trades connected with the manufacture and pub-
caiion of books are suffering very severely. This has been a
eat business in the United States; and beginning with Hie rap-
n hen-rand ending with the bookseller, probably employing not
ss than 40,000 persons chiefly aduit males and, perhaps,
ubsisting 60,000 free people.

We recently made two walks through Baltimore, and in each
roceeded beyond the closely- built parts of the city the du-
nces, going and returning, (by different routM), being about
ve miles, in the whole of which we observed the building cotn-
enced of only one good house this season, and the cellars pre-
aring for four small ours. One walk was lo the east, the other
est. It is well that ihere is u good deal of work yet to do be-
>re the houses commenced in the !a*t season will be finished.

The secretary of the treasury has reported, in consequence of
le call made upon him in Mr. Poindexler's resolutions con-

rning the transfer of certain deposites Irom Die Planters' bank
f Mississippi. Ii appears that nearly a million of dollars had
ccumulated in that bank, and that the secretory thought it btvt
o Iransfer 250,000. each, to the Commercial bank at New Or-
:ans, and Union bank of Tennessee, al Nashville, to be dis-
uised for the removal of the Indians and other expenses in the

est.

The London Morning Chronicle of January 29th, speaking of
te commercial distress in the United Slates on account of the
resident's hostility to the bank, observes, "while the question
emains under agitation the ino*t serious injniy is inflicted on
rude. Correspondents of mercantile houses here intreal them
ot to make any shipments whatever, as it wns impossible to
oresee to what extent the failures would be carried, and that it
vas impossible to give the usual credit lo those parlies who
lood high in public estimation."

The Manchester (Eng.) Chronicle, in allu-ion to the laborers
mployed upon our canals, rail roads, &c. observes, "thus many
>f the gigantic undertakings, which gave employment to im-
mense numbers of laborers, have been suspended. As no cer-
ain calculation can be formed of the possible extent to which
natters will be carried in the United States, the export trade
las almost ceased, whilst, on the other hand, the natural atixi-
ely of Ihe American men-hauls in turn their goods into money
las occasioned a considerable increase in the amounl of their
or.siiinmenls to England. 1 '

[We hope that the spread of this news by the Manchester
Chronicle, may have effect to prevent the emigration or expor-
.ation of paupers to the United States. We may have quite
enough to do to find employment and food for our own working
jeople.]

Mr. Beardsley, one of the representatives in congress from
Vow York, recently said in hU place "Sooner than extend the
jsistence oflhe bank of the United Stales, let it perish, and ia
Is fall carry down every bank in the union. I say for one, pe-
rish credit, perish commerce, perish the state institutions. Gice
us a broken, decayed, worthless currency, rather than the ignoble
and corrupt tyranny of an irresponsible corporation."

It is stated that one oflhe members of the house of represen-
tatives of pensylvania, had openly said "I would sooner see
every constituent I have reduced to be worth but 24 hours pro-
visions, than to see the United Slates' bank reclmrtered."

And that a person holding one oflhe mosl lucrative offices in
the gill of the United Slates, at Boston, has declared

Were a torch applied to ihe whole line of cities on the At-
lantic coast of the Uniled Stales, and each one razed to the
ground, the loss to the country would be of little consequence
compared with a relaxation of the measures of the executive
against the bank."

The favorite argument of those who advocate the killing of
the United States' bank is, thai if it occasions so much commo-
tion iind distress to wind it up, it is a dangerous institution, and
ought not to be permitted to exist. Now, we all know we must
die, and that when the lime comes there will be a great deal of
grief, and perhaps distress: But who would commit suicide to
avoid these consequences? No man in his senses, certainly.

Seventy notes were lately protested in a bank in Philadelphia
in one day.

[If the condition of things i* not speedily chanced. Mr. BearJt-
ley may be pretty nearly gratified, in the fulfilment of his impie-
cations.]

TWENTY-THIRD CONGRESS FIRST SESSION.

SENATE.

March 28. Mr. Wcbtter presented a memorial signed hy about
2,800 of the citizens of Albany, New York, ascribing the pecu-
niary embarrassments of the country to !he\ removal of Hie pub-
lic deposites from the bank of the United States, praying for
their restoration nnd for their rechartcr of the bank.

NiLES' REGISTER APRIL 5, 1834 CONGRESS.

Mr. Webster accompanied ihe presentation with .some appro-
priate and ibrcilile remarks.

.Mr. H'rigfit, of New York, expressed a wish to reply to the
senator from Massachusetts, in case the tenator from Kentucky
(Mr. Clay), wlio was entitled to the floor, was willing to post
pone the continuation of his remarks to another day. He held
in his hand another memorial adverse to the one just presentee
containing the signatures of 1,700 of the citizens of Albany.

Mr. Clay i said he felt some reluctance to interfere with the
remarks of the senator from New York, but as he was confi-
dent lie shared in the anxiety to go on with the debate on the
resolutions which were the Older of the day, if it met with his
entire approbation, he would move to lay the memorial on the
table, in order to give him an opportunity of making his remarks
to morrow. Mr. C. then made a motion to that effect, whicl:
was carried.

Mr. Forsyth. then suggested to the genlleman from Kentucky
to take up his resolution on the subject of the Union bank of
Maryland.

Mr. Clay said he had intended to call up that resolution yes-
terday, but as the gentleman from Georgia was not in his seat
who he understood wtabed to addror. the senate on the sub
ject, he declined doing so; and that he no\v proposed to call it
up on Monday next.

Th chair then called the order of Ihc day, bring the report ol
the finance committee on the removal of the dcnosites, &c
when

Mr. Clay rose and concluded his remarks.
Mr. McKtan rose, at the moment when the question was
about to he put, and said he should vote against both resolutions
because they were censorious; but that his votes on these re-
solutions were not to be taken as evidence- of what his course
would be when a distinct proposition, granting relief to a suf
fenny community, should be presented.

The question was then taken upon agreeing to the first of the
above mentioned resolutions, in the following words:

Resolved, That the reasons assigned by the secretary of the
Treasury for the removal of the money of the United States,
deposited in the hank of the United Stales and its branches,
communicated to congress on the 4th day of December, 1833,
are unsatisfactory and insufficient.

And the question upon agreeing to this resolution was taken
as follows:

YEAS Messrs. Bibb, Black, Calhoun, Clay, Clayton, Ewing,
Frelinghuyseu, Hendricks, Kent, King, of Geo. Knight, Leigh,
Mangum, Xaudain, Poindexter, Porter, Premiss, Preston, Rob-
bins, Silsbee, Smith, Southard, Sprague, Swift, Tornlinson, Ty-
ler, Waggaman, Webster 28.

NAYS Messrs. Ben ton. Brown, Forsyth, Grundy, Hill, Kane.
King, of Ala. LiriH, McICean, Moore, Morris, Robinson, Shep-
ley, Tallmadse, Tipton, White, Wilkins, Wright 18.
So the resolution was agreed to.

Mr. Clay, then, at the in-Uance of some of his friends, modi-
fied his resolution, so as to read as follows:

Resolved, Tnat the president, in the late executive proceed-
ings in relation to the public revenue, has assumed upon him-
self authority and power not conferred by the constitution and
laws, but in derogation of both.

And the question being taken on agreeing to this resolution,
it was decided as follows:

YEAS Messrs. Bibb, Black, Calhoun, Clay, Clayton, Ew-
ing, Frelinghuysen, Kent, Knight, Leigh, Mangum, Naudain,
Poindexter, Porter, Premiss, Pre.-ton, Robbins, Sil.-bee, Smith,
Southard, Sprague, Swift, Tomlinson, Tyler, Waggaman, Web-
tter '2fi.

NAYS Mrssrs. Beiiton, Brown, Forsyth, Grundy, Hen-
dricks, Hill, Kano, King, of Ala. King, of Geo. Linn, McKean,
Moore, Morris, Robinson, Shepley, Tallmadge, Tipton, White,
Wilkiiii. Wright 20.
So this resolution also was agreed to.

[The absent senators were Messrs. Bell, of N. H. and Cham-
bers, of Md. both of whom would have voted with the majority,
in either case.]

Mr. JFViegnman moved that, when the senate adjourn, it ad-
journ to meet on Monday; but the motion was negatived ayes
21, noes 23.
The senate then adjourned.

March 29. Mr. Webster presented two memorials; one from
the borough of Muncey, Pa. jiid the other from ths township of
Muncey creek, in the same state, against the removal of the de-
posites. Which memorials were read, referred and ordered to
be printed.

Mr. Wehcter also pres-ented the memorial of 312 inhabitants
of Watervliet, New York, of the same character, and praying
that their memorial may be considered as united with the one
|ir< 'nteil from the citizens of Albany, (the day before).

Mr. W ehster said he would not ask for the reading and refer-
ence nf the Watervliet memorial until the one from Albany
fc-hnuUl b* taken up.

Memorials of .1 punilar nature were also presented by Mr.
McKean froru the. citizens of York, Pa. and by Mr. Tyler from
about 300 citizens of the county of Culpeper, Va. which memo-
rials were read, referred and ordered to be printed.

Mr. Kent, of Md. presented a resolution passed by the legis-
lature of Maryland, nnjoining upon the senators from that state
jii use their best exertions to obtain from congress such a liberal
gporopriation of the public funds, in aid of the further construc-

tion of the Chesapeake and Ohio canal, as shall insure its com-
pletion.

Mr. Kent, in presenting the resolution, said he took great
pleasure in laying it before the senate, because the legislature
of Maryland have not approached congress before they had done
something themselves to the purpose. They have not prayed
to Hercules without first putting their own shoulders to the
wheel. They have made a further subscription to the great
work, and they rely on the government of the United Slates,
who is a joint stockholder with Virginia and Maryland, to do so
likewise, and he looked forward with confidence, that when
the proper period arrives, the senate would not disappoint them.
The resolution was read and referred to the committee on
roads and canals.

The lesolution submitted by Mr. Eiving, calling for informa-
tion relative to the post office department; and

The resolution relative to the lands acquired by the trtaty of
Dancing Rabbit Creek, were severally considered and adopted.
Mr. Benton submitted the following resolution, which was
ordered to be printed:

Resolved, That a committee be appointed on the part of the
senate, jointly with such committee as may be appointed on the
part of the house of representatives, to consider and report to
the senate and to the house respectively, what alterations, if
any, aie necessary to be made

Ut. In the value of the gold coined at the mint of the United
States, so as to check the exportation of that coin, and to re-
store it to circulation in the United States.

2d. In the laws relative to foreign coins, so ac to restore the
gold and silver coin of foreign nations to their former circula-
tion within the United States.

3d. In the joint resolution of 1816, (for the better collection
of the revenue) so as to exclude all bank notes, under twenty
dollars, from revenue payments after a given period, and to
make the revenue system of the United Slates instrumental in
the gradual suppression of the small note circulation, and the
introduction, of gold and silver for the common currency of the
country.

Mr- WVtiiru, from the committee on foreign relations, report-
ed a bill extending the time for settling Ihe claims of American
citizens under the late treaty with Naples; wbicb was read and
ordered to a second reading.

Mr. Preston presented the memorial of the city authorities of
Charleston, S. C. praying for the establishment of a naval hos-
pital referred.

Mr. Hendricks presented the petition of the officers of the ar-
my stationed at Fort Dearborn, remonstrating against the pas-
sage of the bill before congress for the creation of a provident
pension fund, &c. referred.

On motion of Mr. Wright, the senate proceeded to the confi-
deration of executive business; and when the doors were opea-
ed the senate adjourned.

March3l. Mr. Bibb offered the following resolution, which
was considered and agreed to.

Resolved, That the secretary of the department of state be re-
quested to lay before the senate, as soon as practicable, all the
information which has been obtained under a resolution of the
senate of the 26th February, 1833, touching the population ef
the United States, of all kinds, native and alien, the militia, and
such other statistical information as the secretary might deem
useful and expedient. And particularly that ha lay before the
senate all the information which has been obtained under the
circulars issued by Mr. Livingston, propounding queries to ob-
tain information, as well on the subjects particularly mention-
ed, as upon the subjects confided to his discretion by that reso-
lution.

Memorials in favor of the restoration of the depositeg, &c.
were presented by the following persons: by Mr. Mangum, from
citizens of the town of Wilkesborough, by the same from citi-
zen* of Mounlsville, by the same from 500 citizens of Beaufort,
North Carolina; as also the proceedings of a meeting of the
county: by Mr. King, of Ala. from citizens of Mobile, who com-
plain grievously ol the embarrassment and losses sustained by
them.

All which were read, referred and ordered to be printed.
Mr. King introduced a bill for the better organization of the
district courts of Alabama, which was read a first and second
time and referred.

On motion of Mr. Clay, the resolution moved some days since
relative to the Union bank of Maryland, was taken up for con-
sideration.

Mr. f'ln.}i then modified his resolution to read as follows:
Resolved, That the secretary of the treasury be directed to re-
port to the senate what amount of public money is now on de-
posits in the Union bank of Maryland, when or on what ac-
count it was deposited, and also whether any treasury draughts,
contingent or other, have been, during the month of March,
1834, furnished to the said bank, or at any time heretofore, to
the bank of Maryland, for any and what purpose. And that he
likewise report what amount of stock in the capital of said
Union bank was held by R. B. Taney, esq. when the said bank
was selected as one of thu banks to receive in deposits the pub-
lic money, and what amount of the said stock he now holds.
The resolution, as modified, was then agreed to.
Mr. Pnindexter offered the following resolution, which was
considered and agreed to:

Resolved, That the commissioner of the general land office be
directed to communicate to the senate the number of patent*

N1LES' REGISTER APRIL 5, 1834 CONGRESS.

in his office prepared for the signature of the president of the
United States, which have not been signed, and the number of
final certificates filed in his office on which patents have not
been prepared for signature.

Mr. Poindexter ottered the following resolution, which lies
one day on the table:

Resolved, That one thousand copies of the journals of the old
congress and of the senate, including in separate volumes the
confidential proceedings, with a compendious index to the
whole, in each volume, be printed for the use of the senate, and
that the same be retained, subject to the further order of the
senate.

On motion of Mr. Wright, the senate proceeded to the consi-
deration of the memorial of the citizens of Albany, in favor of
'the restoration of the deposiles, presented a few days since by
Mr. Webster.

Mr. Wright rose and replied to Mr. Webster, and was follow-
eel by Messrs. Ewing and Clay. The memorial was read, re-
ferred and ordered to be printed.

Mr. Wright then piesented the memorial of 1,700 citizens of
Albany in favor of the removal of the deposites, which was also
read, referred and ordered to be printed.

The senate then took up in succession thirty-eight bills for
the relief of private individuals, which were severally read a
first and second time and referred: and the senate then ad-
journed.

^pril 1. Mr. Wright asked leave to present to the senate a
report from the minority of the select committee on the subject
of the contested election of Messrs. Robbing and Potter, each
claiming a seat as a senator fiom Rhode Island.

After some conversation between Messrs. Wright, Poindexter,
Frelinghuysen, Sprague and Ewing, on motion of Mr. Swing it
was laid on the table.

On motion of Mr. Frelinghuysen, the senate took up the bill
making appropriations for the repair and completion of the Cum-
berland road.

Mr. Hendricks moved an amendment, to apply a portion of
the appropriation to bunding toll gates and toll houses on the
road.

Mr. Poindexter opposed the application of the money to any
purpose but the repair of the road.

Mr. Hcnkricks proposed the amendment because the act of
the legislature of Pennsylvania contemplated the taking of the
road when the toll gates and houses were up.

Mr. Clayton was opposed to the whole bill on principle. The
internal improvement system, was designed as a national sys-
lem; and the proposed cession to the states through which the
road passed, would be destructive of this great principle.

After some further remarks favorable to the amendment, by
Messrs. Ewing and Frelinghuysen, Mr. Hendricks withdrew his
amendment, when.

Mr. Preston offered an amendment, proposing a conditional
cession of those parts of the road passing through the states of
Maryland and Pennsylvania, to those states respectively.

Mr. Wilkins opposed the amendment, on the ground that it
would defeat the bill.

After some further remarks by Messrs. Clay, Ewing and Kane,
the amendment was disagreed to.

The question on ordering to be engrossed, and read a third
time, recurring, it was decided as follows:

YEAS Messrs. Bentoii, Bibb, Clay, Ewing, Frelinghiiysen,
Hendricks, Kane, Kent, Linn, Morris, Poindexter, Porter,
Prentiss, Rohbins, Robinson, Silobee, Southard, Tipton, Wag-
gaman, Wilkins 20. ^j.

NAYS Messrs. Black, Brown, Calhoun, Clayton, Forsyth,
Hill, King, of Alabama, King, of Georgia, Knight, Leigh, Man-
gum, Moore, Naudain, Preston, Shepley, Smith, Sprajjue, Swift,
Tornlinson, Tyler, White, Wright 22.

The senate artjournod.

JlprilS. Mr. White, one of the majority, moved a reconsi-
deration of the vote taken yesterday on the rejection of the bill
making appropriations for the repairs and continuation of the
Cumberland road; and after a short and desultory debate, in
which Messrs. White, Clay, Poindexter, Ewing. Sprague and
King, of Alabama, took part.

Mr. Preston called for the yeas and nays, which having been
ordered, the question was taken, and decided in the affirmative,
as follows:

YEAS Messrs. Benton, Clay, Ewine, Grundy, Hendricks,
Kae, King, of Ala., Knight, Linn, McKean, Morris, Poindex-
ter, Porter, Prentiss, Robhins, Robinson, Shepley, Silsbee,
S.mith, Southard, Spraaue, Swift, Tallmadge, Tipton, Tomlin-
son, White. Wilkins, Wright 28.

NAYS Messrs. Brown, Calhoun, Hill, King, of Geo. Leigh,
Moore, Preston, Tyler 8.

The bill was then recommitted to the committee on roads
and canals.

The following message was received from the house of repre-
sentatives, by Mr. Franklin, their clerk:

In the house of representatives, Wednesday, Jl-pril 2d, 1834.

Ordered, That a message be sent to the senate to notify that
tody of the death of JAMES BLAIR, late one of the representa-
tives from the state of South Carolina, and that his funeral will
,tak place this day, at. 4 o'clock in the afternoon, from the hull
.of the house of representatives.

The message having been read-
Mr. Preston said I am sure the senate will sympathise with
me io those emotions of profound sorrow with which I rise to

propose the customary resolution upon such an event. The
sudden death of general Blair, in the vigor of life, and in the
midst of its most strenuous pursuits, cannot fail to impress all
minds with the most solemn feelings which to us are enhanc-
ed by his association with us in the same pursuits, and by the
fact Ihitl-this is the second instance this .-ie.-sioii (if such nn aw-
ful and sudden dispensation of Providence. We, his colleague*
of the South Carolina delegation, lament his loss not the led
that he has differed with us in some points of public policy.
Such differences have never extended to personal separation;
for each has excused the zeal of the other, by n mutual and
equal acknowledgement of zeal; and God forbid that any such
difference should impede for a moment the sad current of feel-
ing which now passes through my heart. To whatever the de-
ceased addressed himself, he brought uncommon force of cha-
racter, firmness of purpose and vigor of intellect. His country
and his constituents have to mourn the loss of these qualities
at this important juncture of our affairs; and upon me devolves
the melancholy duty of moving the following resolution:

Resolved, That the senate will attend the funeral of the lion.
James Blair, late a member of the house of representatives
from the state of South Carolina, at the hour of 4 o'clock this
evening; and, as a testimony of respect for the memory of the
deceased, they will go into mourning by wearing crape round
the left arm for thirty days.

The resolution was then unanimously adopted; and, on mo-
tion of Mr. Preston, the senate adjourned.

April 3. The chair laid before the senate a message from the
president of the U. S. enclosing a communication from the go-
vernor of New Jersey, on the subject of the adjustment of the
boundary line between that state and the state of N. York.

Memorials, &c. praying for the restoration of the deposites,
were presented as follows by Mr. Prentiss, from inhabitants
of Chittenden county, Vermont; by Mr. Sprague, from the citi-
zens of Bath, Maine. Read, referred and ordered to be printed.

Mr. Benton presented certain resolutions adopted at a meet-
ing held in Boston, adverse to the restoration of the deposites,
&c. Read and referred, &c.

The special order, being the report of the judiciary commit-
tee on the pension funds in the U. S. bank, was taken up, when

On motion of Mr. Clayton, it was postponed until Tuesday
next.

Mr. Wright then moved that the senate go into executive bu-
siness, which motion was negatived.

The bill to repeal the force bill was then taken up, but on
motion of Mr. Calhoun was laid on the table.

Several bills of a private or local character being attended to ,
the senate adjourned.

HOUSE OF REPRESENTATIVES.

Friday, March 28. Mr. J. Q. JiA.ams asked leave to offer the
following:

Resolved, That the secretary of the treasury be directed to
lay before this house, copies of the charters of all the banks se-
lected by him, as depositories of the public moneys in the place
of the bank of the United States and its banches together with
the names of the presidents, directors and stockholders, in the
said selected banks, with the amount of stock in said banks,
held by each stockholder, and the amount of debt due by each
president, cashier and director, of each of the banks, to the said
banks, at the time when it was selected as a depository, and at
this time.

Mr. Polk said, as the information was already before the house,
he must object.

Mr. Jldams insisted that it was not, and he moved the suspen-
sion of the rule of the house to enable him to offer it.

Mr. Williams called for the yeas nnd nays.

Mr. Polk then said, that he would withdraw his objection.

The resolution having been read.

Mr. Eiring rose for the purpose of submitting an amendment,
call in;; for information whether the deposite banks had lawyers
and solicitors employed.

Mr. Wayne said as the resolution must stand over one day
tho amendment was not in order.

After a few remarks from Mr. Speight

The chair explained the rule; when

Mr. Jldams accepted Mr. En-ing's amendment as a modifica-
tion, and the resolution lies over until to-morrow.

James W. Boulrlin elected in the place of Thomas T. Bouldin,
deceased, from Virginia, appeared, was qualified and took his
seat.

On motion of Mr. McKinley, the house agreed to meet, hence-
forth, at 11 o'clock, A. M.

Mr. Patterson submitted a resolution, which was agreed to, in-
structing the committee on Indian affairs to inquire into the ex-
pediency of making an appropriation for the purpose of pur-
chasing the Wyandot Indian reservations, in the state of Ohio,
and removing the Wyandot tribe of Indians west of the Mis-
sissippi.

Mr. Polk asked and obtained leave from the committee of
ways and means to be discharged from the consideration of the
petition of certain sugar refiners of Boston, praying a reduction
of duties on sugar.

The house proceeded to the consideration Mr. Mardii' reso-
lution, when

Mr. Ckilton Lilian, resumed and continued his remarks until
the expiration of the hour.

NILES' REGISTER APRIL 5, 1834 DR. MACNEVEN'S LETTER.

The house took up the report of tlie committee of ways and
means on the deposite question, &c.

Mr. Ckoate then rose and addressed the house in favor of the
restoration; when lie had concluded

Mr. Dickerson. of Xew Jersey, rose and spoke at considerable
length in support of the resolutions of the committee.

Mr. Ilurdinax pressed a wish to speak on tin: question, and, as
he was not prepared with cettain documents, moved that the
house adjourn.

Mr. Mercer requested him to withdraw the motion, in order
to take up the bridge bill.

The motion nut being withdrawn, the question was taken
upon ii, mid it was rejeeird -10 to 56.

The speaker staltd that there was not a quorum, and directed
the sergeant at arms to invite the members to attend.

Mr. llardin then moved that the house do now adjourn, which
was agreed to without a count, and the house adjourned.

Saturday, March. 29. Mr. Jldams, of Mass, a^ked consent to
take up the resolution moved by him yesterday, calling for cer-
tain information relative to the deposite banks.

[Mr. Foster, of Georgia, objecting Mr. -ii/ams moved to sus-
penJ the rule, to enalile him to call up his resolution. On this
motion .Mr. Williams demanded the yeas and nays whereupon
Mr. foster withdrew his opposition.]

Mr. Jldams then modified his resolution by adding the follow-
ing clause:

"And that the secretary ol the treasury be directed to report to
this house, a statement of all the SUNK denominated in the
treasury accounts unavailable fund*; specific-all) designating the
several banks, or individuals indebted to the treasury therefor;
the lime when each debt first became due the time when fail-
ure of payment thereof first occurred; the security, if any, which
the public have for payment thereof at any time, and the pros-
pect of such eventual payment."

Mr. Harper, of Perm, objected to the adoption of that clause
of the resolution which called for a statement of the debts due
by the respective presidents, cashier* and directors of the banks
referred to.

Mr. Jidams should be entirely willing to acquiesce in the
amendment proposed by the gentleman from Pennsylvania, if
such had been the measure meted out on other occasions. Tin
ground taken by the gentleman was precisely that which he
Mr. A. had taken two years ago, on the occasion of an invt-stiga
tion into the affairs of the United States bank; but he had been
overruled. And, aside from this, one of the resolutions re
ported by the committee of ways and means, proposed a simila
investigation on a much more extensive plan, in relation to the
bank of the United Slates.

That measure, which had been meted to one institution, Mr
Jidams was for meting out to others. If in the one case, a!
the accounts of individuals, of every description, especially o
persons connected with the government, members of congress
printers and editors, had, in the one case, been subjected t
scrutiny, (as the affairs of the editors ofthe National Intelligence
hid been, and subjected to numerous public comments), thei
there was nothing but fairness and equity in permitting th
same scrutiny in relation to the CRACK banks, (which he consi
dered a better name than that of pet banks.)

Mr. Wayne acquiesced wilh the gentleman from Pennsyl
vania, (Mr. Harper), in his objection to one of the clauses of in
resolution; besides which it contained two calls which wer
unnecessary. The charters ofthe bunks, and the names of thei
stockholders had already been reported. He contended als
that the resolution called for certain information, which, whil
it might essentially injure individuals, could effect no publi
good. The secretary had no power to demand such information
and, if he had, it ought not to he exerted.
Mr. McKinley took similar ground.
Mr. Speight was willing to allow the largest latitude of in
nuiry. He was particularly surprised at the remarks of th
gentleman from Georgia, (Mr. Wayne), who bad said, if he un
derstood him, that the house had "no right to inquire into th
affairs ofthe hanks selected to receive the deposites.

Messrs. Wilde and Mann addressed the house, the latter gen
tleman concluding his remarks with a request that the gentle
man from Pennsylvania would withdraw his objection.
Mr. Harper expressed his willingness to do so.
Mr. Beardsley rose to address the house, but the hour allotte
to resolutions having expired,

Mr. Polk moved that the rules of the house be suspended fo
the purpose of taking up the general appropriation lull, wliic
motion was negatived.

The house then took up several bills of a private or loea
character, which being severally disposed of, the house adjourn
ed.

Monday, March 31. The house took up the motion of M
Plummer, of Mississippi, for referring the proceedings of
meeting ofthe citizens of Natchez in that state, in favor of tli
restoration of the deposilea, to the committee of ways an
means