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I S now receiving at the \ GENEVA CHEAP • -SWRB,\ an additional supply of ' Fall afiid Winter Ctoods, 'consisting fh parf'of BROADCL@THP, CASSIMERES and FLANNELS. Also, a large lot of \CIRCASSIANS which were bought in July before the advance, and will be sold Cheap ; * French and English Meryioes ; SHALLA, a new article for fall dresses ; Merino SH.WW ; Thibet, Wool and • Worsted de-.r A great variety of SILKS, RIBANDS, &C. A splendid style of Printed Thibet SHAWNS, of now patterns ; A large assortment of white, black and slate Worsted Knitting Yarn, with ma- ny other Articles too numerous to mention. All who wish to purchase are invitpd to call, examine, and purchase if they deem it for their interest. Geneva,' Sept. 24, 1833. 07 JVEW ARRIVAL. fHE subscribers have just received an extensive assortment of GOODS in their line of business, embracing Drugs and Medicines, Family Groceries, Crockery, Window Glass, Glass-1 fare, Lookuig-Gtasses, Looking- ' Glass Plates, Dye Woods and Dye Stuff's, Ground and Dry PAINTS, Paper Hang- ings, Brushes, &fc. Sfc. Among which are the following : 4 Tons St'k and Ground LOG-WOOD ; 4 \ \ \ Tamp. FUSTIC ; 3 \ \ '• Hache and Y. 11. NICARAGUA; 25 Barrels pure Ground CAMWOOD ; 1500 Pounds Blue VITRIOL ; 1500 \ ALUM j 4 Barrels best Dutch MADDER : Bengal, Manilla and Flotajit INDIGO ; Quercitron Bark, Cochineal, Oil Vitriol, Muriatic Acid, Grain Tin, Teasl.es , Jacks, Clothier's Brushes, Press Papers, Tenter- hooks, Curcuma, Gum Arabic, Camphor, Opium, Sulph. Quinine, Sulph. Morphine Acetate, do. Ilyd' de'Potasse. Also, N. Orleans, St. Croix and Havana SUGARS; Hyson, Young Hyson, Hyson Skin.and Tonkay TEAS ; Molasses, Cocoa, Coffee, Chocolate, Pimento, Pepper, Rad and Ground Ginger, Soap, Candles, ecc. Likeioise, 1000 gallons Sperm and Linseed fOil; 6 barrels Spirits Turpentine; 1 do. Ol- ive Oil; do. in baskets; White and Red Lead, (dry and ground;) Chrome Yellow, Chrome Green, Vcrrliilion, dry and ground Verdigris, Gum Copal, Gum Shelnc, Gla- ziers'\ Diamonds, Graining Brushes, Blen- ders, &x. &e. All of which they arc determined to sell for cash or approved credit, as low as can be purchased at any house west of Utica. KELLY & HALL. Geneva, Sept. ltf, 1833. GG .. JVEW BOOKS. FTZLAFF'S Journal of two voyages along the coast of CHINA in 1831 & 3i>, with notices of 'Siam, Corea, \and the Loo-Choo .Islands; and remarks on the Pol- icy, Religion, fce. &.c. of China. _^ ^ DICK on the improvement of Society' by the diffusion of useful knowledge : or an illustration of the advantages that would, re- sult from fl more general dissetninatiofT of rational and scientific information among all ranks. PENCIL SKETCHES ; or outlines of Character and Manners, by Miss Leslie. THE CONTRAST, by the Earl-of Mul- grave, author of Matilda, Yes and No, &c. TALES OF ROMANCE, by T. Moore, Esq. Mrs. Hall, C'roker, Lamb, Wilson,-Miss Mitford and others. LECTURES to YOUNG LADIES, com- prising outlines and applications of the dif- ferent branches of Female Education, for the use of Schools and private Libraries, deliv- ered to the pupils of Troy Female Seminary, by Mrs. Phelps. ENGLAND and the ENOLfSH, by Bul- wer. Evidences of Prophecy, by Keith, a new supply. An Elementary practical Book for learn- ing to speak the F'ench'Language, adapted to the capacity of Children, translated by- Mrs. Addic'ks. MEADOW'S French and English pro- nouncing Dictionary. For sale at the Bookstore of J. BOGERT. Geneva, Sept. 21, li?33. NOTICE. HE subscriber having discontinued the Manufacture of Boots and Shoes, and being about to leave the place, earnestly re- quests all persons indebted to him by Note or Book Account, to make (j^f 0 Payment before the 1st day of October next, and save unnecessary trouble to both parties. i\. B.—lie has yet on hand a very good assortment of BOOTS & SHOES, which ] he is selling extremely low for cash. Per- ' sons desirous of getting good work at a ! cheap rate, will please call soon at his Shop in Water-street, or it may be too late. A. EDDY. .Geneva, 16th Sept.\ 1833. 4:6G WJEVf GO OB 8. T HE subscriber has returned from New- York and is now opening a lar<;e sup- ply of FALL AND WINTER GOODS, among which are the following : Blue, black, green, claret, ri/le-green, dark mixt & Cadet mixt BROADCLOTHS ; Blue, black, drab &. stripe CASSIMKHES ; Leopold Oassiiuerc, a new article ; Blue, drab, olive and mixt SATINKTS; French and English Merino Cloths; 100 pieces Merino Circassian ; 100 Merino SHAWLS, all wool borders; 400 pieces CALICOES, new patterns ; Italian, Grodeswiss, & Grodenaple SILKS; Hermani and Thibet Handkerchiefs ; Olympian Handkerchiefs, new st>le; Goatshair and Common CAMULETS ; Baizes and Flannels ; Oil Cloths ; 1 case Leghorn Hats ; 2 cases Tuscany and Straw Bonnets, new fashion ; Sheetings and Shirtings ; Cotton Yarn, Wadding and Batting ; 2000 yards ingrain and stripe Carpeting ; Hugs and Carpet Binding ; Also— Imperial, Hyson, Young Hyson and Hyson Skin TEAS ; - SUGAR, COFFEE, MOLASSES, &c. All will be sold at the lowest prices for cash. JOSEPH THAYER, 3d, Seneca-street. Geneva, Sept. 0, 1R33. 3m05 . WIJVDOW BLEJTDI9, CHEAPER THAN EVER. T HE subscriber has been at great ex- pense in erecting Machinery for Manufacturing WINDOW BLINDS, and is now able to offer for sale a first rate article, cheaper than ever, at his shop, a few doors south of the Bank, sign of the Green Blind. The prices are so much reduced as to put it within the reach of the most economical to furnish themselves with this highly useful and ornamental article. WINDOW SASH, of all sizes, (made by hand,) at factory puces, constantly kept for sale, warranted equal to that manufactured any where. The public generally, and buil- ders in particular, are requested to call. On examination he is confident of giving satis- faction both as to workmanship asd price. WINDOW GLASS, of all si/.e«. kept constantly on hand. Orders thankfully re- ceived. EDWARD P. EARL. Geneva, Aug. 2.S, 1833. L/G3 CARRIAGE *WAH£.YG. TO JLMZT, T HE Three Story Brick STORE at present occupied by the subscriber, situate in Water-st. near the foot of Seneca- st. It is one of the best locations for a busi- ness establishment in the village. Possession given 1st October next if required. Also, the Building north of and adjoining the above described premises. A.:EDDY. Geneva, Sept. 10, 1833. <JI> Infantry Equipments. OR Sale, several articles of the Uni- form of an Infantry Officer—among whiph arc an elegant SWORD, EPAU- LETTS, a Valise, elegant Saddle Cloth, Spurs, &.C &.c. Apply at this Office. Glnera, Aug- ~7. Permanent Remove ! JONATHAN HUDSON, \AS Remo- ved his Ge- neva Watch and Jewelry Establish- ment, from No. 30, Seneca-Street, to Water-Street, one door south of S. ,Chapin's Store, &• • tJrtnaclAy in ir^rfX ol', David S. Skaats', where his customers will find him ready to do their work perso'nttlly, and with despatch. Thankful for past favors, he will endeavoi UNITED STATES BANK. From the Washington Globo. REMOVAL OF THE PUBLIC DEPOSITE^. • it-has been generally known for some\ months past that the propriety of withdraw- ing the public deposites from the Bank of the United States was under consideration and engaggdTnTOtrel' the attention of the Presi- dent and of the different members of his Cab- inet, all of whom had been called upon by the President to assist him in his deliberations on this subject.^ After a very* full and care- ful examination, the President came to the conclusion that the public deposites ought to be changed to t-he state banks, and his opinion was communicated in writing to his Cabinet on Wednesday last, at a meet- ing held specially for that purpose, and the facts and reasons on which it was founded. As public attention has been drawn to this subject, it is deemed proper, in order to pre- vent misunderstanding or misrepresentation, to lay before the people the communication made by the President as above mentioned, and a copy has been furnished to us for that purpose, jwhich we now proceed to publish. i [Read to the Cabinet on the 18th Sept. 183-3.] Having carefully and anxiously considered all the facts and arguments which have been submitted to him, relative to a removal of the public deposites from the Bank of the United States, the President deems it his duty to communicate in-this manner to his Cabinet, the final conclusions of his own mind, and the reasons on which they are fou'nded, in order to put them in durable form, and to prevent misconceptions. The President's convictions of the dan- gerous tendencies of the Bank of the Uni- ted States, since signally illustrated by its own acts, were so overpowering when he entered upon the duties of Chief Magistrate, that he felt it his duty, notwithstanding the objections of the friends by whom he was surrounded, to avail himself of the first oc- casion to call the attention of congress and the people to the question of its recharter. The opinions expressed in his annual mes- sage of December, 1829, were reiterated in those of December, 1830 and 1831; and in that of 1830, he threw out for consideration some suggestions in relation to a substitute. At the session of 1831-2, an act was passed by a majority of both houses of Congress, reehartering the present Bank, upon which the President felt it his duty to put his con- stitutional veto. In his message returning that act, he repealed and enlarged upon the principles and views briefly asserted in his annual messages, declaring the bank to be, in his opinion, both inexpedient and uncon- stitutional, and announcing to his country- men, very unequivocally, his firm determjnj^ ation never to sanction, by his approval, the continuance of that institution, or the estab- lishment of any other upon similar princi- ples. There are strong reasons for believing that the motive-of the Bank in asking for a re- charler at that session of Congress, was to make it a leading question in the election of a President of the United States, the ensu- ing November; and all steps deemed neces- sary were taken to procure from the people a reversal of tjje President's decision. Although the charter was approaching its terniiiifffion, and the Bank was aware that it was the intention of the government to use the public deposite as fast as it accrued, in the payment of the public debt, yet did it extend its loans from January, 183J, to May, '33/''from $42,402,304 24 to\$70 72, beting an increase of $28,025,700 48, in six- . _ „ »»_.-™„« tern nrotrtfca. *t*» tmriWwrdy taAtetSCfl xhap^^t.a^gj^rf^n.ihe^^^^^ueycs, •u i j- i.- . <• .i-- • .. • ! reasonable ground for expectation that the leading object of this immense extension I . *> . = ,.., T , .. , ,., . of its loans was to bring as large a portion of the people as possible under its power and influence ; and it has been disclosed, that it is. Neither the one nor the other is ne- cessary, and therefore ought not to be re- sorted to. . On the whole, the President considers it as conclusively settled that the charter pf -the Bank of the-United States will not he renewed,, and he has no reasonable ground. ored requires him to encounter; and it bet- ing the duty of one of the executive depart- ments to'decide in the first instance, .subject to the future action of the legislative power, whether the public deposites shall remain in Jha Bank of the^ United J3tates until the end ofhVexistence, or be\ withdrawn sometime' -~ •• --tr-- •-yju'.. *—**» to merit their continuance by diligence and some of the largest sums were granted on T HE subscriber having entered into Co- ' partnership with Lr.vi C. BOYRDMAN, the Carriage Making business, in all its bran- ches, will hereafter be conducted bv them under the firm of ROSE & BOARDMAN, who will endeavor to keep constantly on hand, or make to order, CARRIAGES of every description, which will be warranted to be made of the best materials, finished in good style, and sold low for cash. fljP* All persons indebted to the subscriber are requested to settle the same with as little delay as possible. S. II. ROSE. Geneva, August 12, 1833. 61 attention to business. His assortment of WATCHES, JEW- ELRY and PLATED-W'ARE, is offered for sale very low. Silver w ork kept on hand, or made to order, and warranted to be as fine as dollars. Watches and Clocks cleaned and Repaired and warranted. Geneva, Sept. 2, 1833. G4 TAIEORI.TG. T HE subscribers, successors of J. Back- I tcr enstose and Son, having formed a con- nexion in business antl purchased a large Stock of ready made Clothing, Trimmings, &<\• offer th.* same for sale at their shop on M\L\'-STREET, (recently occupied by Backenstose &. Son,) lower than formerly for ready pay. | Tailoring in all its branches, will be done I ] in the neatest, and most fashionable manner, i Those favoring them with custom may de- pend upon having it done in the best style, i and on reasonable terms. | CUTTING done on short notice. j By a strict attention to business, and a faith- ful perl'orunutee of all encasements, they hope to receive a share of public pntromge. CAREY ccGl ST1NE. Geneva, Aug. 11, 1833. Gl HE partnership heretofore existing be- tween the subscribers, in the Practice of the Law, is this d.iy dissolved, with mutu- al consent. Debts due the Lite firm may be paid to either of the late partners. H. II. BOOERT, G. J. GROSVENOR. Geneva, July 1, 1833. N. B. The subscriber will continue his professional business at his loom in the Post Office building, Go G. J. GROSVENOR. JYOTICE. T HE subscribers, Attorneys at Law, and Solicitors in Chancery, having form- ed a Copartnership under the firm of STANSBURY & DIXON, in the Village of Penn-Yan, Yates Co. y. T. will give prompt and personal attention to all business entrusted to their care, in any of the Courts of Law or Equity in this State. Agencies connected with their profession will also be attended to. JAMES W. STANSBURY, GEORGE G, DIXON. Penn-Yan, 5th Aug\ 1833. 60 NOTICE. HE subscribers having purchased of Ames & Ileadly their entire stock of BOOTS, SHOES AND LEATHER, now offer the same to the public at their old Stand, on as good terms as at any other es- tablishment in the village. MITCHELLS & HAYWARD. Geneva, April 3, 1833. 42 Temperance, .Almanac. J UST received and for sale by the dozen or single, at the Bookstore of J. Bogert, the Temperance Almanac for the year 1834. Geneva, Sept. 4, 1833. A LL persons having unsettled Accounts with the late WIMAM TILLMAN, are requested to call and adjust the same with the subscriber. JAMES W. TILLMAN. 6«B»Y», July 30, 1833. [50] Assignee. very unusual terms to conductors of the | public press. In some of these cases, the ; motive was made manifest by the nominal I or insufficient security taken for the loans, t by the large amounts discounted, by the ex- traordinary time allowed for payment, and especially, by the subsequent conduct of those receiving the accommodations. Having taken these preliminary steps to obtain control over public opinion, the Bank came into Congress and asked a new char- The object avowed by many of the advocates of the Bank, was to put the Presi- dent to the test, that the country might know his final determination relative to the Bank prior to the ensuing election. Many docu- ments and articles were printed and circula- ted at the expense of the Bank, to bring the people to-a favorable decision upon its pre- tensions. Those whom the Bank appears to have made its debtors for the special oc- casion, were warned of the ruin which awaited them, should the President be sus- tained, and attempts were made to alarm the whole people,, \by painting the depression in the price of property and produce, and the general loss, inconvenience and distress, which it was represented would immediately follow the re-election of the President in opposition to the Bank. Can it now be said that the question of a j recharter of the Bank was not decided at j the election which ensued I Had the veto I been equivocal, or had it not covered the whole ground—if it had merely taken cx- , ceptions.to the details of the bill, or to the , time of its passage—if it had not met the j whole ground of constitutionality and expe- j diency, then there might have been some I plausibility for.,the allegation that the ques- i tion was not decided by the people. It was to compel the President to take his stand that the question was brought forward at that particular time. He met the challenge, wil- lingly look the position into which his ad- versaries sought to force him, and frankly declared his unalterable opposition to the Bank, as being both unconstitutional and inexpedirnt. On that ground the case was argued to the people, and now that the peo- ple have sustained the President, notwith- standing the array of inlluence and power which was brought to bear upon him, it is too late, he confidently thinks, to say that the question has not been decided. Whatever may be the opinions of others, the President considers his re-election as a decision of the People against the Bank. In the concluding paragraph of his Veto Message he said: \ I have now done my duty to my country. If sustained by my fellow-citizens,\i shall be grateful and happy; ir not, I shall find in the motives which impel me, ample grounds for contentment and peace.\ He was sustained by a just people, and he desires to evince his gratitude by carrying STR*I\* CATTLE. S TRAYED or Stolen from the pasture of the subscriber, at the foot of the Lake, near Geneva, on the 6th inst., two Milch COWS, red, with white faces; one large, with high, horns, the tips bent back ; the other a middling size, with short horns, one of which is a little longer than the other. Also, two red yearling STEERS, one hav- ing a few white spots in the face. Also, two . 0 _- -j j—„ red heifer CALVES, one white face and the ! lnt0 efr ' >< ' t tlleir decision, so far- as it depends • - - - - upon him. other with some white in the face Any person returning said Cattle, or giving information where they may be found, will be handsomely rewarded ; and, if stolen, $5 in addition will be given for the apprehen- sion of the Thief. JAMES NARES. August 14, 1833. \ tf:fil REWJiRB. ' TRAYED from the farm of the subscriber, a two year old HEIFER, of the Durham breed, dark red color. Of all the substitutes for the present Bank which have been suggested, none seems to have united any considerable portion of the public in its favor. Most of them are liable to the same constitutional objections for which the present Bank has been condemned, and perhaps to all there are strong objec- '^5L? n the score of expediency. In rid- ding the country of an irresponsible power, which has attempted.^ control the govern- ment, care must be taken not to unite the same power with the Executive branch. To give a President the control over the cur- to believe that any substffute will be estab- lished. Being bound to regulate his course by the Jaws as they exist, and not to antici- pate the interference of the legislative pow- er, for the purpose of framing new systems, it is proper for him seasonably to consider' the means by which\ the services rendered by the Bank of the United States are to be per- formed after its charter shall expire. The existing laws declare, that \the de- posites of money of the United States, in places in which the said Bank and branches thereof may be established, shall be made in said Batik or branches thereof, unless the Secretary of the Treasury shall at any time otherwise order and direct, in which case the Secretary of the Treasury shall immediately lay before Congress, if in session, and if not, immediately after the commencement of the next session, the reason of such order or di- rection.\ The power of the Secretary of the Trea- sury overthe deposites is unqualified. The provision that he shall report his reasons to Congress, is no limitation. Had it not been inserted, he would ha^e been responsible to Congress, had he made a removal for any* other than \good reasons, and his responsi- bility now ceases, upon the rendition of suf- ficient ones to congress. The only object of the provision, is to make his reasons ac- cessible to congress, and enable that body the more readily to judge of their soundness and purity, and thereupon to make such fur- ther provision by law as the legislative power may thiijk proper in relation to the deposite of the public money. Those reasons may be very diversified. It was asserted by the Secretary of the Treasury without contra- diction, as early as 1817, that he had power \ to control the proceedings\ of,the Bank of the United States at any moment, \ by chang- ing the deposites to the State Banks,\ should it pursue an illiberal course towards those institutions: that the \Secretary of the Treasury will always be disposed to support the credit of the State Banks, and will inva- riably direct transfers from the deposites of the public money in aid of-their legitimate exertions to maintain their credit;\ and he asserted a right to employ the State Banks when the Bank of the United States should refuse ^to receive on deposite the notes of such State Banks as the public interest re- quired should be received in payment of the public dues. In several instances he did transfer the public deposites to State Banks, in the immediate vicinity of branches, for reasons connected only with the safety of those banks, the public convenience, and the interests of the Treasury. If it was lawful for Mr. Crawford, the Secre- tary of the Treasury, at that time, to act on these principles, it will be difficult to discov- er any sound reason against the application of similar principles in still stronger cases.— And it is a matter of surprise that a power which, in the infancy of the Bank, was free- ly asserted as one of the ordinary and famil- iar duties of the Secretary of the Treasury, should now be gravely questioned, and at- tempts made to excite and alarm the public mind, as if some new and unheard of power was about to be usurped by the executive branch of the government. It is but a little more than two and a half years to the termination of the charter of the present Bank. It is considered as the decis- ion of the country that it shall then cease to t, i°f|d.n%\^\ .the.IJ*a<4<i«m*-t»olitfVeS, n&S lomrmeground for expectation that any other Bank of th e United States will be cre- ated by Congress. To the Treasury' De- partment is intrusted the safe keeping and faithful application of the public moneys.— A plan of collection different from-the pres- ent, must therefore be introduced and put in complete operation before the dissolution of the present Bank. When shall it be com- menced ? Shall no step be taken in this es- sential concern until the charter expires, and the Treasury finds itself without an agent, its accounts in confusion, with no depository for its funds, and the whole business of the gov- ernment deranged? or shall it be delayed until six months, or a year, or two years be- fore the expiration of the charter ? It is ob- vious that any new system which may be substituted in the place of the Bank of the United States, could not be suddenly car- ried idto effect on the termination of its ex- istence without serious inconvenience to the government and the people. Its vast amount of notes are then to be redeemed and with- drawn from circulation, and its immense debt collected. These operations must be grad- ual, otherwise much suffering and distress will be brought upon the community. It ought to be not a work of months only, but of years, and the President thinks it cannot, with due attention to the interests of the peo- ple, be longer postponed. It is safer to begin it too soon than to delay it too long. It is for the wisdom of congress to decide upon the best substitute to be adopted in the place of the Bank of the United States; and the President would have felt himself relieved from a heavy and painful responsibility, if in the charter to the Bank congress had reserv- ed to itself the power of directing, at its pleasure, the public money to be elsewhere deposited, and had not devolved that pow- er exclusively on one of the Executive Departments. It is useless now to in- quire why this high and important power. was surrendered by those who -ire peculiar- ly and appropriately the guardians of the public money. Perhaps it was an oversight. But as the President presumes that the char- ter to the Bank is to be considered as a con- tract on the part of the government, it is not now in the power of Congress to disregard its stipulations; and by the terms of that contract the public money is to be deposited in the Bank, during the continuance of its charter, unless the Secretary of the Treasu- ry shall otherwise direct. Unless, therefore, the Secretary of the Treasury first acts, Congress have no power over the subject, for they cannot add anew clause to the char- ter, or strike one out of it without the con- sent of the Bank; and consequently the public money must remain in that institution to the last hour of its existence, unless the Secretary of the Treasury shall remove it at an earlier day. The responsibility is thus thrown upon the Executive \branch of the government, of deciding how long before the expiration of the charter, the public interest will require the deposites to be placed else- where. And although, according to the frame and principle of our government, this decision would seem more properly to belong to the legislative power, yet as the law has imposed it upon the Executive Department, the duty ought to be faithfully and firmly met, and the decision made and executed up-1 called upon to meet The above reward will be given for the re-„> reocy and, the power over individuals now turn of said heifer or for information where • possessed by the Bank of the United \States she may be found. i even with the material difference that he is JAMES BARNES. | responsible to the people, would be as ob- Seneca, Juty 9, 1833. 56tf I jectionable and as dangerous ae to leave it a* on the best lights that can be obtained, and the best judgment that can be formed. It would ill become the executive branch of the government to shrink from any duty which the law imposes on it, to fix upon others the responsibility which justly belongs to itself. And while the President anxiously wishes to abstain from the exercise of doubtful powers, and to avoid all interference with the rights and duties of others, he must yet, with un- shaken constancy, discharge his own obliga- tions; and cannot allow himself to turn aside in order to avoid any responsibility which the high trust with which he has been hon- \before the. President has felt himself bound to examine the question cafefuljy and de- liberately in order to make up his judgment oinhe subject-t- -and-Hv4Ms opmiou-thaJiear approach of the termination of the charter, and the public considerations heretofore mentioned; are of themselves amply suffi- cient to justify the removal of the deposites without reference to the copduct of the Bank, or their safety in its keeping'. But jn the conduct of the Bank may be found-mother reasons very imperative in their character, and which require prompt action. Developements have been made from time to time of its faithlessness as a public agent, its misapplication of public funds, its interfer- ence in elections, its efforts by the machine- ry of committees, to deprive the Government Directors of a full knowledge of its concerns, and above all, its flagrant misconduct as re- cently and unexpectedly disclosed in placing all the funds of the Bank,' including the money of the Government, at the disposition of the president of the-Bank as a means of operating upon the public opinion and pro- curing a new charter without requiring him to render a voucher for • their disbursement. A \brief recapitulation of the facts whichjus- tify these charges, and which have come to the knowledge of the public and the Presi- dent, \gjll , ho thinks, remove every reasona- ble doubt as to the course which it is now the duty of the President to pursue. We have seen that in sixteen months end- ing in May, 1832, the Bank had extended its loans more than $28,000,000, although it knew the government intended to appropri- ate most of its large deposite during that year in payment of* the public debt. It was in May, 1832, that its loans arrived at the maximum, and in the preceding March, so sensible was the Bank that it would not be able to pay over the public deposite when it would be required by the Government, that it commenced a secret negotiation without the approbation or knowledge of the Gov- ernment, witli the agents, for about $2,700,- 000, of the 3 percent, stocks held in Holland, with a view of inducing them not to come forward for payment for one or more years after notice should be given by the Treasury Department. This arrangement would have enabled the Bank to keep and use during that time the public money set apart for the payment of these stocks. ^ After this negotiation had commenced, the Secretary of the Treasury informed the Bank that it was his intention \o pay off one half of the three per cents -on the first of the succeeding July, which amounted to about -$6,500,000. The President of the Bank, although the committee of investiga- tion was then looking into its affairs at Phil- adelphia, came immediately to Washington, and upon representing that the Bank was der sirous of accommodating the importing mer- chants at New York (which it failed to do) and undertaking to pay the interest itself, pro- cured the consent of the Secretary, after consultation with the President, to postpone the payment until the succeeding first day of October. Conscious that at the end of that quarter the Bank would not be able to pay over the deposites, and that further indulgence was not to be expected of the Government, an agent was despatched to England secretly to negotiate with the holders of the public debt in Eurane. and induce Abam l>y tLv=<^»=r ofan equal or higher interest than that paid by the Government to hold back their claims for one year, during which the Bank expect- ed thus to retain the use of $5,000,000, of public money which the Government.should set apart for the payment of that debt. The agent made an arrangement on terms, in part, which were in direct violation of the charterof the Bank, and when some incidents connected with this secret negotiation acci- dentally came to the knowledge of the pub- lic and the Government, then and not before, so much of it as was palpaply in violation of the charter was disavowed! A modification of the rest was attempted with the view of getting the certificates withoutgpayment of the money, and thus absolving the Govern- ment from its liability to the holders. In this scheme the Bank was partially success- ful, but to this day the certificates of a por- tion of these stocks have not been paid, and the Bank retains the use of the money. This effort to thwart the Government in the payment of the public debt, that it might retain the public money, to be used for their private interests, palliated by pretences no- toriously unfounded and insincere, would have justified the instant withdrawal of the public deposites. The negotiation itself ren- dered doubtful the ability of the Bank to meet the demand's of the Treasury, and the misrepresentations by which it was attempt- ed to be justified, proved that no reliance could be placed upon its allegations. If the question of a removal of the depos- ites presented itself to the Executive in the same attitude that it appeared before the House of Representatives at their last ses- sion, their resolution in relation to the safe- ty of the deposites would be entitled to more weight, although the decision of the ques- tion of removal has been confided by law to another department of the Government. But the question now occurs, attended by other circumstances and new disclosures of the most serious import. It is true, that in the message of the President, which produced this inquiry and resolution on the part of the House of Rep- resentatives, i|, was his object to obtain the aid of that body in making a thorough ex- amination into the conduct and condition of the Bank and its Branches, in order to ena- ble the Executive Department to decide whether the\public motley was longer safe in its hands. The limited power of the Secre- tary of the Treasury over the subject, disa- bled him from making the investigation as fully and as satisfactorily as it could be done by a committee of the House of Represen- tatives, and hence the President desired the assistance of Congress to obtain for the Treasury Department a full knowledge of all the facts which were necessary to guide his judgment. But it was not his purpose, as the language of his message will show, to ask the representatives of the people to as- sume a responsibility which did not belong to them, and relieve the Executive branch* of the Government from the duty which the law had imposed upon it. It is due to the President that his object in that proceeding' should be distinctly understood, and that he should acquit himself of all suspicion of seeking to escape from the performance of his own duties, or of desiring to interpose another body between himself and the peo- ple, in order to avoid a measure which he is But although as an act decTde, and must act accordingly; and he is bound to suppose that such a course-tm-his part will never be regarded by that elevated body as a mark of disrespect to itself; but that they will, on the-contrary, esteem it the. strongest evidence he can give of his fixed resolution consctenrioTisry-to- -discharge- his duty to them and to the country. A pew state of^hingS-has, however, aris- en since the close of the late-session of Con- -grass., and .evjugnge has since beenj.aid be- fore the President, which he is persuade^ would have led the House of Representa- tives to a different conclusion, if it had come to their knowledge. The fact that the Bank controls, and in some cases substantially owns, and by its money support's some of the leading presses of the country, is now more clearly established. Editors to whom it loaned extravagant sums in 1831 and 1832, on unusual time and nominal security, have since turned out to be insolvent; and to oth- ers apparently in no better condition, accom- modations still more extravagant, on terms more unusual, and sometimes without any security, have also been heedlessly granted. The allegation which has so often circu- lated through these channels that the Treas- ury was bankrupt, and that the Bank was sus- taining it, when, for many years, there! has not been less, on an average, than six mil- lions of public money in that institution, might be passed over as a harmless misrepre- sentation ; but when it is attempted, by sub- stantial acts, to'impairthe credit of the Gov- ernment, and tarnish the honor of the coun- try, such charges require more serious at- tention. With six millions of public money in its vaults, after having had the use of from five to twelve millions for nine years, with- out interest, it became the purchaser of a bill drawn by our Government on that of France, for about $900,000, being the first instalment of the French indemnity. The purchase money was left in the use of the Bank, being simply added to the Treasury deposite. The Bank sold the bill in Eng- land, and the holder sent it to France for collection, and arrangements not having been made by the French Government for its pay- ment, it was taken up by the agents of the Bank in Paris, with the funds of the Bank in their hands. Under these circumstances it has, through its organs, openly assailed the credit of th'e Government; and has ac- tually made, and persists in, a demand of j fifteen per cent, or $158,842 ^77, as damages, when no damage,, or none beyond some tri- fling expense, has in fact been sustained, and when the Bank had in its own possess- ion on deposite, several millions of the pub- lic money which it was then using for its own profit. Is a fiscal agent to the Government, which thus seeks to enrich itself at the ex- pense of the public,* worthy of further trust ? There are other important facts not in the contemplation of the House of Representa- tives, or not known to the members at the time they voted for the resolution. Although the charter and the rules of the Bank both declare that \not less than seven directors\ shall be necessary to the transac- tion of business, yet the most important bu- siness, even that of granting discounts to any extent, is intrusted to a committee of five members, who do not report to the board. To cut off all means of communication with the government in relation to its most impor- tant acts, at the commencement of th§ pres- ent year, not one of the-Government Direct- ors was placed on any one-committee. And although since, by an unusual remodelling of those bodies, some of those directors have been placed on some of the committees, they are yet entu-e\i- »»••>'«<ieurrom the com- •wtctcc or exchange, through which the great- est and most objectiouable loans have been made. When the Government Directors made an effort .to bring back the business of the Bank to the Board, in obedience to the charter and the existing regulations, the Board not only overruled their attempt, but altered the rule so as to make it conform to the practice, in direct violation of one of the most important provisions of the charter which gave them existence. It has long been known that the President of the Bank, by his single will, originates and executes many of the most important meas- ures connected with the management and credit of the Bank, and that the Committee, as well as the Board of Directors, are left in entire ignorance of many acts done, and cor- respondence carried on, in their names and apparently under their authority. The fact has been recently disclosed, that an unlimi- ted discretion has been, and is now vested in the President of the Bank to expend its funds in payment for preparing and circulating ar- ticles and purchasing pamphlets and news- papers, calculated by their contents to ope- rate on elections and secure a renewal of its charter. It appears from the official report of the Public Directors, that, on the 30th of November, 1830, the President submitted to the Board an article published in the Amer- ican Quarterly Review, containing favorable notices of the Bank, and suggested the expe- diency of giving it a wider circulation at the expense of the Bank : whereupon the Board passed the following resolution, viz: \ Resolved, That the President be author- ised to take such measures in regard to the circulation of the contents of the said article, either in whole or in part, as he may deem most for the interest of the Bank.\ By an entry in the minutes of the Bank, da- ted March 11th, 1831, it appears that the President bad not only caused a large edition of that article to be issued, but had also, be- fore the resolution of 30th November was a- dopted, procured to be printed and widely circulated, numerous copies of the reports of General Smith and Mr. McDuffie in favor of the Bank, and'on that day he suggested th,e expediency of extending his power to the printing of other articles which might sub- serve the purposes of the institution. Where- upon, the following resolution was adopted, viz: \ Resolved, That the President is hereby authorised to cause to be prepared and cir- culated, such documents and papers as may communicate to the people information in regard to the nature and operations of the Bank.\ The expenditures purporting to have been made under authority of these resolutions, during the years 1831 and 1832, were about $80,000. For a portion of these expendit- ures vouchers were rendered, from which it appears that they were incurred in the pur- chase of some hundred thousand copies of newspapers, reports and speeches made in Congress, reviews of the Veto Message, and reviews of speeches against the Bank, &c \-- For another large portion, no vouch- been applied to the objects contemplated bJ those resolutions, as obnoxious as they wl the Board renewed the power already C cJ ferred, and even enjoined renewed attentii to its exercise, by adopting the following w lieu ofnhe proposition submitted by the (fj eminent Krectorspriz-:-,— '' \ Resol'vad,, That the Board have cottl dence in the wisdom and integrity of J Presiuent and in t'hej'propriety.pCt.he.resoli tions of 30th November, 1830,4^11thMatcl T831, 5 and entertaiirrrfulLconvieTibn of it necessity _of a renewed attention to the oM (| of those, resolutions, and that tlje Presided be authorized and r.eqtiestedhto conti n p e u exertions for the promotion of said object* Taken in connection with the nature.1 the expenditures heretofore made, as receJ ly disclosed, which the Board not only \JL erate but approve, this resolution puts' th funds of the Bank at the disposition of th President for the purpose of employing tit whole press of the country in the services i the Bank, to hire writers and newspapq and to pay out such sums as he pleases, What persons and for what services he pit. es, without the responsibility of renderi any specific account. The Bank is thi converted into a vast electioneering engim with means to embrpil the country bj ,j ea ( ly feuds, and, under dover of expenditure in themselves improper, extend its corrui tion through all the ramifications of socieh •Some of the items -fdr which account have been rendered show the construction which has been given to the resolutions am the way in which the power it confers h; been exerted. The money has not been e pended merely in the publication and dist bution of speeches, reports of committees articles written for the purpose of showin the constitutionality or usefulness of tu Bank, But publications have been prepa I ed and extensively circulated, containing thi grossest invectives against the officers ottbi government: and the money which b< to the stockholders and to the public hj§1 been freely applied in efforts to degrade, i 1 public estimation, those who were suppose to be instrumental\in resisting the wishes o this grasping and dangerous institution.-! As the President of the Bank has not been! required to settle his accounts—jio one ta himself yet knows how much more than IM sum already mentioned may have- been squandered—and for which a credit mal hereafter be claimed in his account under thij most extraordinary resolution. With thesj facts before us, can we be surprised at thJ torrent of abuse incessarrtly poured out against all who are supposed to stand in thi way of the cupidity or ambition of the Banl of the United States ?—Can we be surpriBei at sudden and unexpected changes of opta , ion in favor of an institutiou which has hiilJ , lions to lavish, i&nd avows its determination not tQ> spare its means when they are nc-l cessary to accomplish its purposes? TW refusal to render an account of the\ manna in which a part of the money expended hat! been applied, gives just cause for the snsp cion that it has been used for purposes whicl it is not deemed prudent to expose to til eyes of an intelligent and virtuous people.-! Those who act justly do not shun the light, nor do they refuse explanations when thi of justice to himself, he disclaims any design of soliciting the opinion of the House of Representatives in relation to his own duties, in order to shelter himself from responsibili- ty under the sanction of their counsel, yet he is at all times ready to listen to the sug- gestions of the representatives of the people, whether given voluntarily or upon solicita- tion, and to consider them with the profound respect to which all will admit they are just- ly entitled. Whatever may be the conse- quences, however, to himself, he must fi- nally form his own judgment, where the constitution and the law makes it his duty to &c. e'rs whatever were rendered, but the various sums were paid on -orders of the President of the Bank, making reference to the resolu- tion of the 11th M-arch, 1831. On ascertaining these facts, and perceiv- ing that expenditures of a similar character were still continued,,the ^Government direct- ors a few weeks ago offered a resolution in the board, calling for a specific account of these expenditures, showing the objects to which they had teen applied and the persons to whom the money had been paid. This reasonable proposition was voted down. They also offered a resolution rescinding the resolutions of November, 1830, and March, 1831. This was also rejected. Not content with thus refusing to recall the obnoxious power, or even to require such an account of the expenditure as would shew whether the money of the Bank had in fact propriety of their \conduct is brought into] question. With these facts before him, in ati official report from the Government Directors, thi President would feel that he was not on! responsible for all the abuses and corruption] the Bank' has committed, or may commit but almost an accomplice in a conspiracy gainst that government which he has swot, honestly to administer, if he did not tali every step within his constitutional and power likely to be efficient in putting an en to these enormities. If it be possible, with in the scope of human affairs, to find a re* son for removing the government depositeil and leaving the Bank to its own resource fot the means of effecting its criminal desig; we have it here. Was it expected when tli»| moneys of the United States were directed to be placed in that Bank, ^hat they would be put under the control of one man, em- powered to spend millions without rendering a voucher or specifying the object ? Cm| they be considered safe, with the evidenct before us, that tens of thousands have been spent for highly improper, if not corrupt pui> poses, and that the same motive may lead lol the expenditure of hundreds of thousand, and even millions more? And Can we justi- fy ourselves to the people by longer lenditj to it the money and power of the govert' ment, to be employed for such purposes? It has been alleged by some as an objec. tion to the removal of the deposites, thatfii Bank has the power, and in that event m\l| have the disposition, to destroy the Stall Banks employed by the Government, & brind distress upon the country. It has been tbi| fortune of the President to encounter dangen which were represented as equally alarminf, and he has seen them vanish before resold tion and energy. Pictures equally appalling were paraded before him when this Bank came to demand a new charter. But whit was the result? Has the country been ru- ined, or even distressed? Was it ever mo« prosperous than since that act ? The Presi- dent verily believes the Bank has not the' power to produce the calamities its friends 1 threaten. The funds of the Governmentuilf not be annihilated by being transferred.- They will immediately be issued for the ben- efit of trade, and if the Bank of the United States curtails its loans, the State Baife strengthened by the public deposites, will ex- tend theirs. What comes in through one Bank, will go out through others, and the equilibrium will be preserved. Should the Bank, for the mere purpose of producing dis- tress, press its debtors more heavily than some of them can bear, the consequences will recoil upon itself, and, in the attempts to embarrass the country, it will only bringl loss and ruin upon the holders of its o«> stock. But if the President believed the| Bank possessed all the power which has attributed to it, his determination would antjl be rendered the more inflexible. If, indeeft| this Corporation now holds in its hands th( happiness and prosperity of the American peo< pie, it is high time to take the alarm. If the despotism be already upon us, and our onlj safety is in the mercy of the despot, recenl developments in relation to his designs anil the means he employs, show how necessarj it is to shake it off. The struggle can neve(| come with less distress to the people, orun- der more favorable auspices than at the pre-] sent moment. All doubt as to the willingness of the state banks' to undertake the service of the govern- ment, to the same extent, and on the same terms, as it is now performed by the Bank of the United states, is put to rest by the report of the agent recently employed to collect in- formation ; and from that willingness, thei! own safety in the operation maybe confident- ly inferred. Knowing their own resource* better than they can be known hy others, ft is not to be supposed that they would be wil- ling to place themselves in a situation which they cannot occupy without danger of anni- hilation or embarrassment. The only^on- sideration applies to the safety of the public funds, if deposited in those institutions. And when it is seen that the directors of many of them are not only willing to pledge the char- acter and capital of the corporations'in giving success to this measure, but also their own property and repu tation, we cannot doubt that they, at least, believe the public deposites would be safe in their management. The President thinks that these facts and circum- stances afford a had in human public funds, a system of colle the agency of t From alt the dent thinks tha mediately to be and dishurseme tne funds now Stater dr awn ~< patch. .Thess deposited in tin ed beyond all re lent and natun , to their capital, fis a'subject of Dlepartment wil attention. Th remit,the mon out cfiarge, as now does; mui [that Bank noi overnment a periodical retvj ment with the! Lmust not, in -worse footing t. is happy to pe ^agent, that the <ed have, in g the service on in New-York payments in L than the mere It should ah which may be pected of them ge9 for the ben grant all reas< of the revenui g'erality towards ''do nothing use of the United As one of t the Bank of tl -which it conci in finding othe Treasury, no equally formid ably be impos by any orgar which could b avoid even the would be expe ftt over them, affairs than m: the security o faithful perfor of the Treasu in the politica a view to infli opinion of the an immediate vice. It is the de ^control of the as far as possi .the political as wrested frt ready attempl to its will. I General Gove not to extend stitution, wh \to coin mon of;\ all else people, and ir ion and the i: in conclus: knitted to ren iding-ejuestior the mere trai one bank, to a the charactei come. Shoi to use the pn ment of its 'faithlessness the patriotic of success it and we shal upon our co question of in the prim volves, the to the respc country, refi retary of the siderations v Upon him h tion and the pie, the dutj of the exect ment, and s -executed, trust, it is h those whon \.have made 1 ,tion of the | duties unde It is this rigl be it from h member of t .order, or di ..lieves unlav demns. Fr citizens in \ and support their consci In the re important q of the Tre; respectful d the Pjeside great natiot character a tion; and n President v. ready to re facts now i opinion and /bers of the The Pres his Cabinet as his own, require no i opinion or been assurn .ration and r .the morals ,press, and f vwithout wh iblood and tr in the estal
