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Newspaper
American Union
Location
Morgantown, West Virginia, United States of America
Date
Jan 03, 1838
Page
2
A speaker argues against heavy dependence on the State and banking power, warning that debt burdens families and endangers liberty. He urges federal restraint, state independence from the Treasury, and dissolution of links between national funds and banking institutions to preserve liberty and fiscal prudence.
Governor Ritner urges legislature to cap bank dividends at seven percent and restrict note issuance to specie. impose severe penalties for infractions. ban loans to brokers and directors and cap loans to any one firm or person. require profits over six percent to be reserved. fix notes at par in Philadelphia Morrisburg and Pittsburgh. auction stock with premium to safety fund. prohibit operation until two thirds of capital paid in.
Messrs Briggs and Currier of Painesville Ohio have invented a harness stitching machine that unites neatness and def latch and is not expensive or complicated. Baddiers look to it.
The piece details Fletcher's disavowal of his Faneuil Hall remarks amid a heated controversy with Committee members and a Boston Atlas dispute. The Atlas defends its reporting, asserting Fletcher approved the pamphlet edition, while editors reluctantly retract personal criticisms.
The Mint began in 1791 and faced calls for abolition by 1834. Financial reforms under Jackson improved currency, expanded silver coinage, and created new branches including New Orleans to aid exchange. Certificates for bullion deposits could be redeemed in gold at Philadelphia or New York.
The fragment references a treasury, Mindhy, Serena, and competing fields with miscalled terms. It mentions an objection to the establishment of seven or eight items in the United States, citing a party alignment and a perceived miscall in the text.
The article surveys a heated Senate clash over abolishing small notes and shin plasters, noting Mr. Clay and allies opposing action while Administration supporters push for currency reform. It accuses the Bank of the United States faction of hypocrisy, cites yeas and nays, and comments on absent senators and political maneuvering surrounding the engrossment vote.
The scene recalls a tense Senate clash over a national bank bill. Leaders evade and reframe positions as Mr. Clay and Mr. Preston justify sudden absences, while Mr. Wright and Mr. Niles’ notes promise fuller detail to be published later.
From London and New York reports the plan to create a United States Bank agency aims to buy emigrant gold, fund large bond issues, and use notes to guide currency and commerce. It notes Biddle's maneuvering with Jaudon and Cowell, the Bank of England link, and fears mercantile upset.
The excerpt notes that the government will not allow specie payments and relies on a manipulated credit system to run six mercantile operations. It highlights Mr. Biddle's bank tendering a refusal to adopt specie payments, blaming the government rather than Biddle for the decision, while the bank will resume only if the government acts.
Washington December 21 House proceedings open with Mr Slade urging journal amendments. Mr Patton moves a peace offering resolution to curb slavery debates, Adams objects claiming constitutional violation. a heated clash erupts, leading to order by the Speaker as voices cry out in the chamber.
In Senate during December 22 1837 discussion on restraining small notes in the District of Columbia. Members Morris Preston Clay Wright Brown Strange Hubbard Roane Wall and others debated committee referrals and vote on commitment with 30 against 9 and 21 to 16 on amendments.
The President discusses the Bank of the United States as a potential threat to constitutional authority and suggests ideas to limit its power. He warns a strong central bank could dictate peace or aid, and proposes preserving debt by using government funds directly and reducing dependence on private banks. Author unknown, dated by Secretary of State Joan A. Dix.
In the House the resolution passed 122 to 74 as debate over constitutionality divided members from the North and South. The Senate plans to take up the matter next Tuesday while the House discussed the President's Message in a Committee of the Whole with remarks by Messrs Adams Ewing Duncan Underwood Mallory and others.
The letter shows Jefferson warning against a National Bank and the risks of tying local banks to government to advance private speculation. It notes the plan aligns with what the current executive favors, aiming to keep political institutions free from undue financial trammels.
A Washington correspondent reports two thirds of the Senate and a majority in the House oppose a National Bank after the recent extra session. The piece notes a likely, unprecedented Supreme Court opposition to a bank's constitutionality, complicating efforts by federalists and Mr. Bippie to push a National Bank upon a conquered government and people.
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