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Newspaper
American Union
Location
Morgantown, West Virginia, United States of America
Date
May 22, 1838
Page
2
Readers call for timely response to arrears and payments, warning that delays will prevent proper attention. They request mailing notes be addressed promptly to ensure relief and avoid further complications.
On May 2 1838 in the Senate Mr. Bexton condemned a Clay resolution to aid bank resumption arguing it misreads the distress, predicts universal bank stabilization, and warned it would spark a new expansion and crash. He asserted New York gold flows prove distress vanishing and attacked the Bank of the United States agenda as false and dangerous.
The speaker attacks a proposed resolution to publish paper money as government currency and to compel use of bank notes. He traces finance policy from Hamilton to Jackson, warns of ruinous effects on public lands and creditors, and urges committee review before debate. He notes the stakes for hard money, specie diffusion, and the federal treasury.
The Journal of Commerce notes February predictions of a bank resumption without Mr. Biddle proved false. Banks have resumed specie payments, restored solid footing, and mercantile confidence rises. Government policy remains supportive, though full restoration will take time as injuries reveal themselves. Prosperity appears ahead.
The steamboat Juniata from Columbus arrived at Mobile reporting that she saw the steamboat Ouacha on fire near Colemans Landing, with all her cotton floating down the river.
President proposes a remedy to avert default as Treasury notes face reissue limits. Van Buren outlines that twenty eight million deposited with states and fifteen million owed by individuals and banks threaten government duties. He urges early action during the current session to permit fall amount use for the year.
The Treasury Secretary warns of looming fiscal embarrassment due to a prohibition on reissuing certain notes, limited bank payments, and reduced funds. He urges Congress to lift the restriction, restore note reissue, and avert credit damage, outlining current revenues and available balances and the risk to public obligations.
Levi Woodbury warns Congress that without approval of proposed measures or new appropriations, the 1838 budget will face shortfalls. He notes only rapid, effective action can preserve the national faith and avoid severe disruptions to public finance, urging consideration by the Ways and Means Committee.
The article discusses a detailed exemplar of federal professions, highlighting its thoroughness and usefulness to readers seeking clarity about federal employment roles. It emphasizes the breadth of positions and the practical value of such examples in informing the public.
The piece argues that the Whigs cannot escape culpability for a doctrine claiming property as the test of merit. It cites The New York Commercial Advertiser and The Courier and Enquirer as endorsing Sidney’s views on government and federal doctrine, contending that such positions undermine liberal republican principles and the American constitutional tradition.
The Boston Advocate argues the government has not waged war on banks but seeks to curb abuses from an unjust banking system. It urges state regulation of banking, resisting a powerful central money regime to control trade, elections, and governance, predicting a future shift in public opinion.
The Chronicle rebukes a Virginia election summary for listing Federalists by name while excluding several named politicians. It notes the classification reflects two policies: Jeffersonian constitutional adherence versus a funding and banking program. It suggests Calhoun supports the Administration and hopes others join the Republican cause. Globe.
From Quebec accounts up to the 18th, Nova Scotia unsettled conditions emerge. After a brief prorogation the Assembly reassembled and annuls the prior resolutions appointing delegates to correspond with the Governor General. An address to the Crown condemns the new council’s constitution and the Executive in effect.
Several of the hanks in Providence, along with those in Salem and Newport, have begun operations, starting with their small bile and continuing to the Pinteder Hank. The note indicates resemed epe and pay Dente of oil se woes.
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