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and subsequently goading the country to civil war on some abstract question of Indian rights. This party, so furious for a re-charter of the United States Bank, would have been equally furious against the Bank, if the Government had wished to re-charter it. Even so void of political principle is this party, that General Jackson, whom they pourtray as a demon, might become their candidate for the next Presidency, if he would only commit some act that would lose him the confidence of the country.

The enemies of the President assert that opposition to the Bank rests with the President alone. This is untrue. He is but vigorously executing what the people have decreed. And now that he is periling his all to accomplish. our own wishes, shall we desert him for his faithfulness? In the execution of our own plans, shall we, because difficulties are discovered, make him our scape-goat, and join. in the cry to crucify him? Worthy of all infamy must that man be who would act thus; and especially any citizen of a State, whose voice alone, speaking in 1811, through George Clinton, pronounced the death of the former Bank -an event which demonstrates that we, at least, date our hostility to such institutions beyond the commencement of General Jackson's era.

Up to the present pecuniary distress, the people were opposed to a re-charter of the Bank. What has occurred since, to make the Bank more lovely in our eyes? Are we, like spaniels, to be whipt into affection? No; if the people have become willing to re-charter the Bank, the change has been produced by coercion. Like a man with a dagger at his throat, thousands may be willing to comply with the wishes of the hand that holds the dagger; but Andrew Jackson is not one of these.

History seems to prove that Providence exerts a more

than ordinary care of us. During the Revolutionary War it gave us a Washington. During the last war, and the aggressions which led to it, Providence placed successively at the head of our nation Jefferson and Madison, who, in a degree almost superhuman, enjoyed the confidence of the country, and thus enabled us, against a disordered currency, an empty treasury, and internal treason, to cope with the naval power that had subdued all Europe, and with the armies that conquered the foremost man of all the world. And now when every faction, rushing from every quarter, is striving to produce a whirlwind that shall destroy all credit, all confidence, all property, all enterprise and all prosperity, unless the will of the people will yield to the will of a minority, Providence has placed at the helm of State a man who, unlike Ulysses of old, is not compelled to stop his ears, lest he should be swayed from duty by clamor; nor, like the same Ulysses, forced to beg his friends to sustain him, lest he should desperately yield the government to destruction, but standing on the energy of his own purposes, is able to sustain not only himself in this trying moment, but to sustain his friends, and to hold back even the nation, should it be inclined to bow its crest at the bidding of a creature of its own bounty.

Our immediate representative in Congress has well said in his place: "Perish credit, perish commerce, perish the State institutions, give us a broken, a deranged and a worthless currency, rather than the ignoble tyranny of an irresponsible corporation." But we honor the Bank over much, if we suppose such sacrifices are necessary to quell its power. Let people who desire relief, cease from memorializing Congress for a restoration of the public deposits, and for riveting the Bank on the nation by a renewed charter. As well may such petitioners attempt to quench

fire by pouring on it oil, as attempt to allay the fears which exist in Congress against the Bank by petitions, which show that the Bank is able to coerce such multitudes into its support. Every petition is a new monument of the power of the Bank, and an additional argument against its continuance. Rather than this, let the people of every State call on their Legislatures to remove our pecuniary difficulties. New-York alone has but to will what it wishes, and the wish will be accomplished. With an ability to create, at a moment and without cost, a stock that is equivalent to gold and silver, let the State not stand idly by, while an infuriated enemy is ravaging the country. The ground on which the Bank advocates stand, in at least our State, will be thus removed from under them, and they will be left suspended as monuments of disappointed malice.

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THE BANK PANIC AND PRESSURE.†

How wonderfully the goodness of Providence, in the abundant harvests of the past summer, contrasts with the wickedness of man in the afflictions of the last winter! Heaven, by a dispensation of more than ordinary general health, tranquillity, contentment and prosperity, seems to rebuke the imprecation of war, pestilence and famine, which an infuriated statesman dared once to utter, and which the events of the last winter sought to produce, as

*On the 19th day of the ensuing month, the Legislature of New-York passed an act to raise six millions of dollars on State Stock, and to loan the money to the people of the State. The aid thus furnished was of essential service in restoring public confidence.

+ Published October 6, 1834, and addressed to the Hon. Nathan Williams.

far as mischief so gigantic is placed within the power of

man.

The cruel acts under which the country suffered, may have been commenced without concert, but they resulted in a daring conspiracy to obtain, by a sort of Sabine rape, the suffrages of the people. An organized party became as intent to rule or ruin, as a band of mutineers who should hold a torch to fire the powder magazine of a ship, if the captain would not yield to their control. We beheld a reversal of the common principles of human nature. Men rejoiced at their own embarrassments, and merchants proclaimed commerce at an end. Notes of the most solvent Banks were denounced, in the same breath that cried, like. Sarah of old, "give us money or we die!" Bankruptcy no longer excited pity, but undisguised gratification. The more meritorious the victim, the louder was the shout of triumph; the more stable the fabric that sunk before the storm, the more diffused became the exultation. Malignity emulated death in its love of a shining mark.

While these events were transpiring within every man's observation, falsehood and exaggeration filled the opposition newspapers, and made terror and distress epidemic. A sort of friendly cross-fire was carried on between distant cities. The North published lies in aid of the panic at the South, and the South published lies in aid of the panic at the North. A run on banks for specie was recommended, and for the avowed purpose of producing ruin. Like skillful Inquisitors, who are said to know the parts of a human body that are most sensitive to torture, editors directed the panic with equal skill to the Banks and individuals which were the most accessible to injury.

A more infuriated moment no country ever exhibited. Mechanics dismissed their journeymen for exercising a

freedom of opinion, and merchants dismissed their laborers. A sloop load of wheat was willfully precluded a market in the city of New-York, and willfully returned to Albany. Multitudes of men, under the name of Committees, were poured into Washington to intimidate the President, and to debate, personally, with him on the discharge of his constitutional duties. Legislation in Congress ceased, and the speeches of the members were directed to the people. Its sittings were declared interminable, and the country was declared in a state of revolution.

So systematic were the efforts which I have barely enumerated, so furious was the onset, and so specially was our State the object of attack, that great and general interests escaped unscathed by only the majestic efforts of the State itself-which nobly opened its veins to our exhausted mouths, and revived credit at its expiring gasp; and this, too, while tumult and multitude, ravenous for our destruction, clamored, like disappointed demons, at the act which was snatching us from their grasp.

We had all heard of the power of money, but, till last winter, we possessed no conception of its actual power. We now understand why, in every nation, political power has ever existed on the side which preponderated in wealth. We understand why the Commonalty of England (the richest private individuals that the world ever saw) is more than a counterpoise to the King and Nobles. The potency of money was as unexpected a discovery to our enemies as to us. They found it pertaining to the Bank, as accidentally as Aladdin discovered the power which pertained to his magic lamp. The use which our enemies made of the discovery we have seen, but what use shall we make of it? This question gives to the approaching election its importIf we shall be defeated in the coming contest, poli

ance.

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