Newspaper of Burlington Free Press, August 30, 1839, Page 2

Newspaper of Burlington Free Press dated August 30, 1839 Page 2
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From I lie Veimunt Watchman ami Slaie Journal. "SMI L1I' AND DA NIC REFORM." Tlin I'ntrioi has. eked out several columns on this subject , u ml Iho mm nml Mibstoncc of it nil is this i Nathan Smille. nt divers times did propose an nmomlmciit l sundry bank charters, and a mnjority (composed of Whigs and Van Iluren men, il Hie I'ntriot would ndmil. Ihe truth,) refined In adopt it. That amendment is in ihu folio wing words s "That the primip properly of die I'lPiddent di rector mid nlocklmtilcrs nf h'iiM cniponillim, rli.ill lie liolden to redeem ihu bill, or miles hy llicm iiined, nnd be mlijccl lo miiirlimcnl, on mono trocoes, henccr eaid :oi ior.uion Mi. ill mpcnil, or refuse payment, in void nod rilver coin, for :iny of its nulcj, IjiIIj or obligations." Aside from ihis, nnd nnnllicr amendment which is uttnrly unimportant except to stockholders, (to cnnlilu theui to back nut of a bnnk whenever it (.'''Is in be in bad odour !) nil the oilier stuff in the four num. liors of "Nathan Smilie" is but mens wind. This, then. is the grand uwa-ure of rol'orm, tipon which the loco loco lender endeavor 1o make up the issue : lor t ht.-, thry would induce the people to di.-cnrd rvery oilier matter or thing touching tho iiitorcts of thu Mate: for I In?, thry wou'd oust officers of the Male government, ngainM whom even they c.mnnt bring one muiiuI ntiji-ction ; for this, thry would put n man in luo Exa cutivo ofiice who can bring neither charac ter, talents, rxpeiience. nor dignity to the tJaiinn; and for ihi, ihev would c von for fflr that the frci'inen of Vermont have the bghtest itKY.rest in the nfl'nrs of the nation, or in the triumph ordeleatof n vaM scheme to perpctuato Hie power of the Executive tor twenty years to come ! Indeed, Nathan Smilie's amendment must be n very momen tuns affair; nr. if it id not after all, llmse who would turn tlie world upside down nbnut it, must certainly bu said to he tun king "much ado about nothing." lint we would not underrate I ho consequence of this bantling of Nalhnn Smilie : it certainly is of some consequence, for the evil which it. would do. Suppose the legislature of 1827 had ndopled this amendment, where, we heg to ask, would have been Hie banks of Vermont, and the people if Fcrmonl, in the universal suspension of specie payments which followed tlio removal of the deposits? That suspension, as every intelligent man of oil parties will ndrnit, was not the! fault of the Vermont banks. The officers of the banks were driven to Fupend ns n mailer of necessity ; nnd they did it also as a matter of importance to the sinte: had they not done it, the suspended banks in other states would have drawn out every dollar of specie in Vermont. The stock holders, too, were innocent of any, the least, participation io bruising about that suspension, But mark the blow which Nathnn Smilie's amendment would have brought upon iliemnll: he private property nf every one nf them would have been sub' ject to nllachment to n forced sale at aire lion lo an immense sacri fine for tosls and feet. And for whose good? Why, no man's fnve the lawyer, the sheriff, and the heartless speculator, who would have bought up bank bills for the very purpose of pouncing upon the property of some honest farmer, or some widow or orphan, who might have invested a few hundred dollars in bank stock. The banks would have been ruinrd by the operation, and ruin, too, would linve been visited upon hundreds nf innocent persons. The bill holders, even, would have received no benefit, for the hanks were solvent, nil hough suspended, nnd did shortly resume specie payments. Such would have been the operation of SrnilieV grand measure ol "reform" then, and such would it be on the recurrence of n swnilnr event. It was in view of rfect8 like these, that the legisla ture of 1827. and almost every legislature since, has rejected this amendment. On this ground solely viz : the demerits of the amendment U has been voted down, nnd would, we venture lo say, be voted down, even in a loco foco legislature. There is upon the face nf it the rankest irjuslice: the farmer, with his single share, would be liable lo lose every dollar of his private property ; nnd no menm for procuring indemnity from hw brother stockholders is ofTered him. The largest stockholder could 6nfTer nn iimre. This injustice is palpable lo every man of common sense; nnd so palpable, lhat rvr n the most sturdy clamorcrs for "bank relorm ' cannot get over it. Let us prove our assertion from 1 ho columns of ihe Rifornwr and Democrat. Wo quote the following Irom n communi cation signed "Onn of the People," dated Orange County the author being, as we have unequivocal evidence in the commu nication itself, the loco loco n prcsciiuuve from Strafford, in the yenr '37: "The ni xt propohition of reform dial 1 would nm ire, is, llui iIip private property, of die nock linlileis of all Imnhs, slionlil lie Imlileo, to a certain extent, for the leilemplioii of llieir tnlls. VVIirn I My iIihI piivule propeny fliull tie Imldeo, don't mean that if an individual happens to have a few shares of bank stock that all his private' property, whether much or lilllf, shall be holdcn. rillS MUST HE UNUKASONAllLE; but I do s.iy, ihui private piopcrly sufficient lo en-uro the fiileiy of the public, iiguiiiH lo;?, fliould bo pledged in some form or oilier peih.ips nn amount rrpoil to ihe amount of citpinil flock nnulil In sufficient. Looses, by hunk failures, seldom ex ceed tlio amount of cii'piml," &c. &c. Hero, then, is loco foco uulhurily, clear lt if a little singular iliat w faithful, honest, and impartial historian, who li.n wriue i ihe I'a. tiiol articles fiom 'Nathan Smilie No 1, to dllln "Nn. 4," inclusive, should lime entirely ovei looked the n's nnd nner, taken in 1S27, on i he ciy nmendtnent which rniifiiiiitpi the entire grim of Nathan's eventful polilic.tl life 1 T'eili.tpa tliera was a re.ifon for it and no oilier than this : that ihe ery men who wero then, or are now, leaders in ihe' loeofacoparty.VOTED AO A INS I' Smilie's amendment. Wo Imc consulted iho njca unit noffc in '27, nnd find that ihe following members voted against the amendmenl : (D'Sclh Cushinati, (CWyllys Lyman, Ul'Thomas Eniotson, 13 Win. A. Palmer, (D'Jonathan Jennoss, 3"John S. Pcllibone, (D-John Smith ofSt.Al.7John Slarkweathor lETSilas H. Jcnlcon, tlio Whig candidato for governor, voted fur tlio amendinont. Again in 1030, llm Houso ndopled tlin amondmonl sub silentio, and a motion was inado to reconsider it, whieli was ngrred to, nnd Iho amendment was rejected, Tlio fol lowing prominonl men in Ihu loco foco pally volod to reconsider : John Kellogg, John Iluckmastcr, tnrI. . Tucker, Cpjohn Woodbury, Bj'D. A. A. liuck, I'cter llurbank, Luther S. Uurnham, Truman Chittenden, Alvnn Cartor, inpAuguslino Clark, rr'Jaraul Goodwin, IJj'Jolm Brnilli of Si, A. nnd conclusive, ngauifit Nathan SmilieV auiciidmeiit : that amendment roct hohl"n the private property, whether much or little," ol every individual who happens lo have n few shnres of bank stnek s it is, therefore, nnd it must be, "UNitUASON ABLK." Thu m the truth oboul the nml tcr ; nnd this is thu grand reason why it has been, nnd over will be, rejected by fnithlul otnl honest, representatives of Ihe people. They will never consent to con. nivo ot n heartless robbery ol ihe innocent ; even under the plea ol bank reform. Nn. than Simlie. must In? not ho. n marvellously proper mnn for Governor if, m thu dis. ctissions of eleven years, ho has not found out that his darling; amendment is worthy only the derision ol n loco loco! GROSS MlSltKtIUJSHNTATIONS. The Von Huron Tory papers in iheir hv pocrincal Unities upon Bank Reform have assumed it n n fact that ihe VvhigH of the last Legislature were in favor of chartering nntl re-chartering Bnnk, in nny number, and without ndtling to their charters such further restrictions as expenenco tenches to be nccemary, and llm public safety re. quires. This asuined fuel, is false and n libel upon the Whig members of the Leg islature. Because a majority of iho Whigs refused lo add such amendments to char ters as would enable bank men, and ihosc who proposed tlio amendments, to rob Iho public by authority of vested rights such as hail been tried m other Smies nnd proved to be but facilities lo cheat Ihe people ns lo llio men who wero their authors, and who secured t heir adoption by hurraing for "bank reform" because Hie Wlngt would not consent to such nefarious schemes, they are declared to he opposed ton whole., some regulation ol Banks. I Lot us look ot thu mailer. Did the Whigs of the last Legislature desiro nn improper increase cf Bank-? If they hod entertained such n desire they could have gratified it. for lliey were in Ihu majority! in both branches. And whnt did ilipy? Of the several petitions for new banks and for tlio ru chnrler of old banks. ONK only was granted ihe bank of Mnutprlicr was re chartered, with the nddit ion of checks nnd restrictions, such as were considered idcqualu for Hie protection of the public in any contingency . All others were passed over. Now, if the Whigs were for "crea ting monopolies" why did they fail, with -10 or 50 majority in tlio House and 10 in the Senate, lo answer all other applications for banks.' It is further enn'ended thnt Ihe Whigs are opposed to n judicious reform in the banking system. This we deny. Let u? look at Ihe qucitioo. Early in the session the House passed a resolution, introduced by Mr. Fairbanks, of St. Johiisbury, declaring lhat it would not charter or re-charler nny banks unless large restraint'! and checks were imposed beyond those before existing. This reso lution was supported by the Whigs, nnd opposed or evaded by the Van Huron mem. hers of the House. According lo the spirit and intent of this resolution, the following principles:, as im provements, wero agreed upon by the Whigs of Hie House, but io most instances they were OPPOSED by the Van Burcn mcmbpts 1. Jinking all charters subject to the ac Hon of any future legislature. 2. Making them subject to the provisions of a General Banking Law. 3. That law which was passed) provides Hint Directors if banks shall not be indebted individually in a greater amount than 3000. 1. That nn stockholder shall borrow on the pledge if his sloth. 5. That the banks shall not choose as heretofore, a part if Ihe Hoard if Commit doners, but that the Commissioner appointed by Ihe Legislature shall make rigid and frequent examination if the concerns nf the bunks and publish Ihe same. 0. .Making Ihe excessive issue. ,f flilh by he Officers nf banks, a Slate Prison nffeme. In the face of these principles, set'ilcd by the Whigs of Hie last Legislature, the Van Boron papers over that the Whigs ore opposed to securing ihe public against loss by the bank. Il will bo noticed that ihe-e amendments go direct ly lo secure Iho bill holders by nulling off ihe privilege of the Directors ami Stockholders of using hank facilities not allowed to others. Had these resirotnts been imposed on the Wind sorBank, the public would not have suffer ed iIip loss of n cent by the fionccrn. Wo ask people to examine candidly the above principles and inquire if it js not go log as for us tho safely of the public do mands in one vear. And what rolinnce can be pieced in Iho prom'ue.s of n parly, whose papers and lenders declare over and over again, lhat the parly in the Legisla ture lhat establishes ihe provisions1' and principles quoted above, is opposed to a proper reform of the Banking system? Away with t,ucii a parly down with tho demagogues who ore attempting io ride into power by tho aid of misrepresentation nnd hypocritical promises Caledonian. Til B BANKS! THE BANKS ! ! This is the constant cry of our opponents, and one might soiiipI noes almost be led to believe lhat ihev were onoosed in hnnhe Irom principle. But il they will recollect n mntneni nicy win Know mot it is no such thing, and that the pretence lhat ihcy are opposed lo banks is only the last humbug, which they have got up to cheot the people. In WHO, a democratic President and Congress charlpretl tho National Bank. Martin Van Buren nnd the democrats ol New York got' up tho great system ol Safety Fund Banks, nnd chartered most of tho Banks in that State. David Henshaw and the principal leaders of ihe Jackson parly in this and tho other Slates, when tin; charier of Hie old United Slates Bank, of thirty five 'milli -ns was about, to expire, petitioned for a new one of fifty millions. When Jackson vetoed (ho chnrler winch wns pasfed by Congress, ho elated that if they hod applied in bmi ho would hove furnished a plan for a bank which he would sign. Jackson, Woodbury, and tins party for n whilu exuhed in, nnd praised their plan of managing thu Truasurv. bv tho amwiru nf eighty banks. Wo concludo that tho present outcry against banks is not from principle, but only because they nre not financiers enough to maiiago llicm for the ndvantngn of t he pcopie or inc pnriy,U)sex uazetie, I FOR GOVERNOR, FOR LIEUTENANT GOVERNOR, FOR TREASURER, HENRT F. JANES. SENATORS FOR CHITTENDEN COUNTY, FOR TOWN REPRESENTATIVE, CAR LOS BAXTE K II 1 1) A Y M O It N I , G , AUGUST 30 TO THE VOTERS OF CHITTENDEN COUNTY. Wc beg leave to remind those of the Administration party in Chittenden County, who are honestly opposed to banks on tho present system and in favor of reform, that NATHAN B. IIASWELL, tho man for whom they will be called upon, next Tuesday, to cast their votes for the state Senate, is now, and has been for five or six years past, a Director in the Bank of Bur lington, that he has (ilwmjs

bean opposed to Mr. Siniliti's prinafc property amendment and in favor of Banks on the present "IkkespoiNSIble Sys tem." TO THE FREEMEN OF BURLINGTON. Let the Freemen of this town, who are honestly opposed j to the present system of Bank ling and in favo- of reform, I remember, when they come to the polls to vote for Town Representative next Tuesday, that WYLLYS LYMAN, the candidate of the Van Bu ren party in Burlington, is both a Director and Stockholder to a large amount in the Farmers' and Mechanics' Bank, that he is void, and always has been opposed to Mr. Smilie's private property amendment, and that, when a member of the Legis lature in J 832, ho reported, as chairman of the Bank commit tee, in favor of rechartering every Bank which wtis refer red tO him (jON THE I'UESKNT 1 'I RKESFONSl LB S YSTE M." KEEP AN EYE ONTIIE BAL LOT BOXES. fjtLot the Whigs be careful to examine the ballot boxes before any votes arc deposited, lest Loco Foco ballots should be smuggled in as they were in this town last year. The Tories will resort to every species of jugglery lo socurc the triumph of their party. luffiMumniiwiu M0 CAMP. TO THE WHIGS OF VER MONT ! Next Tuesday the Freemen of Vermont will again be called upon to pronounce one more verdict upon an administration which they have annually condemned for ten successive years. It is now too late to attempt, by argument, to win over to our cause the doubtful and the wavering or to infuse the light of truth into the benighted minds of the Loco Focos to strive to per suade them to abandon the miser able schooner, which bears the pi ratical flag of the Plunderers and embark on board the noble ship, manned by gallant Whigs, at whose mast head floats, all bright and glo rious, THE B.VNNKR OF THE CONSTI TUTION. The time has past when such an effort can successfully be made. If after the acknowledged violation, by the Government party, of every principle upon which it came into power; after its open prostitution of executivo patronage to electioneering purposes ; its shameful proscription from ofiice of all who dated to oppose its ruinous and destructive measures and filling their places by thos3 who have im poverished the National Treasury by plundering the People ; if, after it has augmented by nearly thirty millions of dollars the annual ex penditures which it had solemnly promised to reduce ; after it has, in unnumerable instances, appointed lo olfice members of Congress who have dared to sustain the executive against the manifest interests of their constituents and in defiance of their positive instructions ; if, after its relentless warfare upon the cred it system, sustained for a series of years, with unequalled fcrocityjiintil it finally terminated in universal bankruptcy, and its cool assurance to the citizens when called on to redeem its pledge of giving them a "Hotter Currency," that "all who trade on borrowed capital ought to break," and that the "People took to government for too much ;" if, lastly and above all other things, after it has continued in ofiice De faulters to Government in enor mous amounts and obstinately re fused to remove them, until, grown rich by their acumulatcd millions, they have actually sent their resig nations to the Pacsident, thus ma king him an accomplice in corrup tion ; if, wo say, after all these and a long list of other outrages ab solutely too tediaus to recount, any Freeman is yet so regardless of his duty to his country as still longer to persist in his support of this Ad ministration, then no efforts of ours, no, vol even a voice from the dead, can arouse him from his monstrous delusion ! On such it would be vain to waste a word cither of argu ment or admonition. We will not do it. Wc prefer to leave them in the hands of the demagogues by whom they have been so long de luded. We address ourselves to Wmr.s to the gallant and uncon querable Whigs. To you no ar. gumcnt can be necessary in defence of the noble cause in which you arc embarked. It is impossible that you, who for so many years, have maintained your principles and preserved your integrity when all around you were treacherous and false, should now falter in the gion'ous cause when the sky is bright above you and the victory almost won. Every thing around you is ominous of triumph. The mountain state has never bowed the knee to Jackson or Van Buren, but from her proud elevation, she has nobly braved and defied the corrupt minions of Power, faithful amid the faithless, unwavering, and true to the constitution as the needle to the pole. Come foiuvaud then once moke, Whigs of Vermont ! Let the daily laborer drop his spade, let the mechanic close his work shop and the farmer leave his plough in the furrow Come one, come AIjL, and give one day to YOUR Country ! And just as truly as the sun sets in the West next Tues day night, just so surely will it go down on as Elorious a vinlnrv ns j j ever crowned the efforts of the Whigs of the Mountains. To arms ! then, to your posts ! to the Polls ! ???????? THE REFORMERS. Most of ihe Loco Foco papers in this Staiu havo heco cogaged for gix or eight weeks past, in Fpreading heforo the public in largo capitals, iho names of sundry whig members of tho Legislature who have volpil against Nathan Smilio'rt nine ml- inenl to Bank charters nnd in favor of the Hanks, on what they call, the present irre sponsible eyftcm. By the prwent irresponsible system thry mean the -teui, which is opposed lo hav ing the private properly of the Mock-hold- ern, hold' n to redeem tlio bills of the cor poration. Mr. Smilie's aini'nilmnnt was in favor of this doctrine, that is, it proposed to make the private prrpotiy of ihe Mock. holders liable for tho redemption ofiheir notes. This tho Tory papers say is the 'grnt issue." "AM who nro in favor of Reform will v mr ticket, and all who are opposed to it will go with the Whigs." Now let in test th- sincerity of all this bluster about Rrfirm by a reference to names. Let us look into tho journals of the LegHaiuro and see how iheso redoubt able chonpions of Reform have carried out their professions. It so happens that of tho twenty seven individuals whom the Tories have nomi nated for thu Male Senate, nine have formerly been member of the Legislature. And pray how havo they veiled on their favorite measure reform We answer, CTEVBRY INDIVIDUAL OF THEM. EXCEPT ONE. VOTED FOR THE BANKS ON THE PRESENT IRRE SPONSIBLE SYSTEM. Wo repeat tho list of names which we copied last week from the Watchman. Let every voter read it. JOHN WOODBURY, Loco Foco can didatofor the Setiato in Windsor county. PHILIP C. TUCKER, candidate of tho same parly in Addison county and ISRAEL GOODWIN, Loco Foco candidate, in Washington County, voted in 1(131, in favor of tho Bank of Middlcbury and the Bank of Bellows Falls, on Iho present IRRESPONSIBLE SYSTEM" and against Nathan Smilie's private properly amendment! JONATHAN JENNESS. DANIEL COBB and LEBBEUS EDG ERTON all Loco Foco candidates in Orange county voted for the Bank of Orange county, Iho Bank of Monlpolior, tho Bank ofSt. Albans and Iho Rank of VrrgenncH on Iho present "IRRESPON SIBLE SYSTEM" and against Nathan Smilit's private property amendment ! JOHN S. ROBINSON Loco Foco candidate in Bennington county and EBE- NEZER HUNTINGTON, candidato of tho same parly in W'.nhatn county, voted for iho Bank of Rutland ondUTMex eotm ly Bank on iho present "IRRESPONSI BLE SYSTEM" and ngolnst Nathan Smt Ite'n private property amendmenl ! ! ! Making eight of the nine who have for mcrly been members of the Legislature, Gen. Jonos Clark of Mtddletown being tho solitary one whose name is not recorded in favor of Banks on tho present "mnEspoN stnr.E Sfstem !" and against Nathan's private proptrty amendment ! What a capital set of Reformed. They cast tho celebrated "Retrenchment and Reform" Administration ol Jackson entirely into tho shade. But in all sober, iicss, who can place any confidence in tho professions of a party, who, while they aro rending the air with shouts of Smiliu and Bank Reform, havo placed on their ticket for iho Male Senate such men ns these? Freemen of Vermont, will you support ihem? Give your answer, next, Tuesday, ot iho Ballot Box. MR. CLAY AND MR. VAN BUREN, on Democracy VKnsus AntrTocR.tcr. Tho committee, who were appointed by the Loco Focoa of this town lo wail upon the President and escort him from While hall lo Burlmgton on the occasion of ihe recent visit which ho graciously vouchsafed to the citizens of this place, supposed, of course, they would bo allowed the distin guished honor nf dining with tho august Democrat, But what was their surprise to find, that, instead of taking dinner at Whitehall, as is usual with other passen gers, he had determined lo dine privately, on board the boat, wi'h his two sons and Mr. Secretary Poinsett, and leave ihu Vermont committee to whistle about on deck, with their hands in Iheir pockets, until he had finished hia repast. This u Van Buren Democracy. And he not only refused to dine with the Burlington com. mittee, but he continued at table, quaffing his champagne and chatting wild his Sec retary and ihe Princes of the blood until it was lime lo clear Ihe board for tea, thus giving tho "cut direct" to the chosen dele gation of illustrious Loco Focos. So much for modern Democracy. Now look on this picture. When Henry- Ci.av was on his way from Montreal to this place, the Whig committee, who had been appointed to wait upon him and introduce him lo the citizens of Burlington, desiring to consult his pleas ure, enquired of him what arrangements ho woold (ike lo have made for dinner, Mr. Clay replied if they had any renrd to his wishes ho desired them to mkr no ar rangements at nil, but allow him to dine, a'. St. Johns with them, as was usual for other passengers of tho boat from Mon treal In Burlington. And this is BhldU Bank. Blue.light. Hartford convention. Federal Aristocracy ! Mr. Stacy: In the Burlington Senti nel of the 23d inst., wo notice that there is an article selling fori li to the freemen of thu county, the qualifications of Lyman Brgess, of Millon, who stands as one ol the loco foco candidates for Senator from this county. The first assertion made in that article, is that "Lyman Burgess is a farmer, of sterling worth and integrity." Now will you ask the Sentinel in what sec. lion of country Lyman Burgess' farms lie? We know that Mr. Burgess for two or three years past has been farming in Micigan speculations j buying lotp of piuo timber ; and advocating strenuously tho plan upon which iho wild cat banks are established, but wo never knew him to bo what could bo called a farmer of Vermont. Wo know that when ho first camo into the town of Milton, he commenced operations in Ihe mercantile business, and continued in trade so long as he was ablo to draw, from the pocket of tho industrious farmer his heard earned gains, and when this proved too little lucrative, he turned lum ber speculator, in which business ho has been engaged in the present day. The next assertion madu in tho article alluded to, is that Lyman Burgess is a man "of sound and comprehensive vitws." If this be so, why is it lhat the views of Ly man Burgess have never been made known even to his nearest neighbors? Wo know of no political question that has agitated the country for Iho last five or six years, upon which Lyman Burgess has ever given a direct nnd decided opinion, if you will except the banking question. Upon this point, just after his return from Michigan, he very manfully camo out with his decided opinion, that tho wild cat plan for banking, was for all the world, tho verv thing Vermonters wanted. Here then wo havo ono specimen of Mr. Burgess' sound and comprehensive views ; and as tho motto of the hcofoeo party ib, "Smilie and bank reform," wo can judge what port ol reform is contemplated when Lyman Burgess gets to be a Senator of Vermont. From which, oou Lord deliver us. It is nexl assorted in Ilic'Sentinol. that Lyman Burgess is a man of fixed and un-