Mar 19, 1834.) Lycoming county (Pa.) Memorials. [H. OF R. After adverting to those facts which clearly show that to pay, has since that period been taken by another produce brings about the average price that it has done house in this city. A Baltimore loan for a large amount for the past five years, what becomes of the allegation has also been taken on favorable terms. We have heard that it has fallen from 25 to 50 per cent., or, to use the of no failure for any considerable amount, either in Phillanguage of one of the memorials from Northumberland adelphia, Boston, or New York, for the last thirty days. county, "the farmer and mechanic have not only been The notes of our best houses are more readily discounted threatened by the aspect of distress in which the com- in bank, and paper that sixty days ago flooded the marmercial class of our citizens has been involved, but a dimination in the value of their products of 50 per cent. or more, has taken place?" &c. ket and was offered at two per cent. a month had dis appeared from the broker's change. In short, the shock has in a great measure gone by-the storm has spent its When this sentence was penned, there may have been fury, and there is comparatively a calm in the money a temporary depression in the market; for those honora- market. We do not mean to say that money is more ble, intelligent, high-minded men who signed that memo- abundant, or that good paper is readily discounted at the rial, and with whom I have been intimately acquainted usual and legal rate. Far from it. We believe there is for twenty years, would not place their names to a paper as great a scarcity as ever, but most of those who were which they did not believe to be correct; but I am happy in delicate circumstances, who were not prepared to to find that their forebodings of ruin have not been realized, and that the prospects promised to the farmers, at the housing of an abundant havest, have not been blighted, but that they can and do obtain a fair and adequate price as the reward of their industry. thus: stand a sudden and unexpected crisis, have gone by the board, while others have contracted their business, gathered up their strength, and paused until the panic has subsided, and the sunshine of prosperity and enterprise bursts forth again. With regard to the assertion made by the friends of the "The Western business, too, that is, the business with bank in Lycoming county, that "hundreds of citizens are the West, has been unusually brisk the present season. A thrown out of employment," I beg leave to read an ex-great number of merchants have visited the Atlantic tract of a letter received a few days since from a highly cities--have bought largely and paid liberally. We conrespectable business man in that county. It reads versed no longer than yesterday with one of the most extensive wholesale dealers of Market street, a first rate "Mr. Webster stated that the memorials from Muncy business man, and one, too, who has made an immense set forth that great distress and scarcity of money pre- fortune in the trade with the West. 'Well,' said we, vailed in this part of the country; that the price of pro- Col. P. how is business with you? Never better,' he duce, of all kinds, had fallen one-fourth; that hundreds of replied. 'Since I have been in Market street, more than our citizens were thrown out of employ! and that times, sixteen years, I have never been so occupied as during stead of becoming better, appeared to be going from the present season. For the last ten days I have been bad to worse.' These statements were so gross and pal-unable to eat a dinner with my family, and have frequentpably false, that every person cried out, shame; and even ly been compelled to remain at my store, packing up, unthe bank men almost blushed when they were pointed out til 12 o'clock at night.' 'Indeed,' we exclaimed. It to them. The facts are the very contrary. The prices is true,' he added. But, for all this, money is scarce-of produce were, at that time, as good as they were a year very scarce, and it will continue so until the panic passes ago. Wheat was selling at near $1 00; rye, 56 and 624 away, and confidence is restored.' cents; oais, 31 and 33; corn, 50, &c.; and some of those men who signed these memorials were selling flour at $550 per barrel; and as for our citizens being thrown out of employment, there is not the semblance of truth in it, as the whole neighborhood can testify. I do assure you that it is false, and I ought to know, having had hands employed all winter; and I know that any person who wished to be employed during the winter, was not at a loss amongst the farmers. Such gross exaggerations have done the bank party more injury than all the efforts of their opponents." And when will it pass away, and how will it be restored?' we asked. "He took off his hat, drew his chair by our side, and said--Not until the newspapers and politicians cease fomenting excitement--cease throwing into circulation suspicions and speculations as to the credit of this bank and that bank--not, in short, until confidence is restored between the Government and the capitalists of the country. The war between the bank and the administration has been a sad one for the people. I do not take sides with either. I believe both have acted unwisely, foolishly; but As great pains have been taken by the advocates of both are human beings, and influenced by the weakness the mammoth bank to induce the farmers, the merchants, and prejudices of human nature.” circulating suspicions and speculations among the people; that business was never better in Market street, and the Western trade unusually brisk, and, in fine, that the shock has gone by, and the storm spent its fury. the manufacturers, and, in fact, every class of the commu- In this article we have the truth without disguise, that nity, to believe that they were ruined and undone beyond the panic is caused by the newspapers and politicians, by redemption, and that nothing short of the downfall of Jackson and his administration could save the country from bankruptcy, and the people from utter destruction, I will read an extract from a paper, which the men of all arties, alias, the opposition, will admit to be good authoty, as it never has been suspected of any particular friendship for the administration. I allude to Bicknell's Reporter, printed in Philadelphia. On the 9th instant, it uses the following language: The course pursued by certain politicians here, reminds me of an anecdote I have heard, in relation to the effect of panic on the imagination. To ascertain whether conceit would kill, certain physi cians (not Senators) entered into an agreement, to try "THE TIMES.-While the excitement continues in re- what effect they could produce on the mind of a sound, lation to the Bank of the United States, the public de-athletic man. In passing him every morning, one would posites, and the currency of the country, we must be ex- commence with the exclamation, "Sir, you appear ill topected, from week to week, to say a word as to the times, day." The next would accost him with grave looks, and with regard to the money market, and the condition of declare that he was sorry to observe his health was on the business generally. It cannot be questioned that the the decline." A third would assert "that he had strong money market is easier at this moment than it was sixty symptons of disease of a malignant character." days ago. We may mention some facts in proof. The thus, "going from bad to worse," the man actually took Pennsylvania loan of $726,554 44, which, from a pressure to his bed, lost his health, and finally his life. Thus it is in the money market, Messrs. S. & M. Allen were unable with some of our M. C's (not M. D's.) They "cry VOL. X.--262 And H. OF R.] Lycoming county (Pa.) Memorials. [MAY 19, 1834 aloud, and spare not," panic, distress, bankruptcy, and tion to the people, and to aid and assist, to the utmost of ruin; and thus endeavor to persuade the people that the their power, in making me popular at home. whole body politic is on the brink of destruction. Permit me to ask for information (because I cannot conThere is another subject to which I beg leave to call ceive how those gentlemen can bear the expense of sendthe attention of the House for a few moments, and to ex-ing such loads of speeches) whether they pay, as the press my kindest and most heartfelt acknowledgments| friends of the administration do, from two to five dollars to some of my colleagues for their fatherly care and per hundred for them? I observe by the envelope sent watchful protection of my constituents. One of my friends me that clerks are employed to endorse the packets and says, May 3, "I almost forgot to mention how much you write free, and the member has nothing to do but put his are indebted to the bank men in Congress for the care sign manual. This relieves my friends from some trouble: they take of your constituents in sending information to but still, do they pay these clerks? The Government them. The mail is loaded almost every day with pam- finds wrapping paper, folders, &c., and the mail conphlets and papers, sent on by them, and all to Jackson tractors and postmasters do their part of the duties remen, too, franked by Mr. and Mr. of Pennsyl- quired gratis. But still, the question recurs, at whose ex vania." I omit the names of my particular friends, and do pense are those speeches printed? For although I am pleas not wish to flatter them to their faces, for their benevolented to observe the solicitude of my friends for the dissem and kind intentions. ination of what they deem correct principles, yet I fear Another friend writes me, that "this morning most of I shall never be able to repay those kind gentlemen a tithe my friends received McDuffie's and Calhoun's speeches; of the expense they incur in rendering my conduct ac and, from appearance, the mails are loaded through ali ceptable to my constituents, spending both time and money parts, and sent to the true friends of our worthy chief, in their benevolent work of circulating speeches through Old Hickory. my district, and all this, too, to benefit those stubborn friends of the administration who will not give any thanks Altogether inexperienced in legislation, when I observ ed honorable members asking to have the memorials The mail contained scarcely presented to the House printed, together with the names any thing else last evening, and was full. The greatest attached thereto, being in some cases several thousands number were for Jackson men, franked by and I could not, for soine time, conceive what object those Kind souls! Good Jackson gentlemen had in view except to supply a large quantity of what is termed "fat" for the public printer. But the "I enclose you the envelope. Let me know who has been so kind without any thanks." Again: May 7. "The deluge of bank pamphlets still continues in this quarter. -, (my colleagues.) men, I'll warrant." On the 8th, another letter says: "The mail was loaded mystery is now solved, as those names, when printed and this evening; sixty-five packets stopped at one office, ad- laid on our desks, afford great facilities to my colleagues dressed principally to Jackson men, and franked by as well as other friends of the bank, to direct speeches Messrs. and my kind colleagues. A and documents to every village and neighborhood. great number went up the river. It is a most outrageous imposition on the mail contractors and postmasters." On the 9th. When I wrote to you last evening, I mentioned to you how outrageously Messrs. and -- To be serious, does any man doubt that these self-same speeches are printed at the expense of the Bank of the United States, are circulated by members of Congress de voted to her interests, in every town, hamlet, and neigh borhood, and for the very express purpose of putting down, destroying, and annihilating, if possible, the pres ent administration and all its friends and supporters? And yet we are told that the bank, the pure, immaculate bank does not interfere with politics, does not exercise any power or influence in our elections--that it pursues the even tenor of its way, regardless of any thing furthe than its own rectitude. Let those who can believe suc were abusing the franking privilege, and I hoped they would have some compassion on the mail contractors and postmasters, and cease for a while to load the mail with bank pamphlets. But this evening we were visited with a most appalling and tremendous shower of bank and nullification speeches, forwarded to the good folks of this neighborhood. For the town of alone, there were 270. The mail bag, of course, could not hold them, and I got a two bushel bag and put them assertions do so; but the sober-minded, thinking portion in, which they filled full! I suppose the same game is playing all over the United States. The last load was under the frank of -, and, as far as I can learn, consisted of speeches of McDuffie, Calhoun, Webster, &c. The bank advocates in this quarter are, or appear to be, ashamed of the affair, and some of them exclaim, "it is too bad!" When people are shown the piles, and stacks, and bags full of those speeches and Senatorial Jeremiads, the natural inquiry is, who in the world pays for printing all these things? And this question can be answered by asking another: Who or what is intended to be benefited by scattering these speeches amongst the people? The Bank of the United States, and those who are scrambling to get into power under its wing. I would like to know if there is no remedy for such gross and flagrant abuses. Can there be no limit to them? Why, it is an outrageous imposition on the mail contractors and the country postmasters. And yet those very men who are the perpetrators of the act are amongst the loudest in crying out against the abuses in the Post Office Department, and the mismanagement of it. I wonder where such men keep their consciences?" of the community are not thus to be gulled. Send o your pamphlets--deluge the country with bank speechesload the mails till the next election, and you cannot pur chase the votes of the freemen of Pennsylvania or of an other State. One of my friends informed me, a short time since, tha a colleague of mine who was unacquainted with my com stituents had sent a number of speeches to some person whose names were attached to a call for a bank meeting and as they had never been so highly honored before the postmaster would call some young men in who wer passing by to get their packets. They usually took them but one refused, and said "he did not want any pay fo his signature." I merely mention this to show my co leagues that men's votes are not to be bought with speeche paid for by the bank and franked by them. How far these gentlemen, who thus load the publi mail with documents, are justified in abusing the Po Office Department, I pretend not to decide: they ough however, not to complain while the mail contains scarcel any thing else than their franked speeches. In the memorial sent me by the citizens of Milton an I know not, Mr. Speaker, how to pay the debt of grat- vicinity, they take occasion to censure the patriotic gove itude I owe my colleagues for their kind and generous nor of Pennsylvania for his message to the Legislature interference in my behalf. I have not the least doubt the 26th February last, "believing it to be a docume that it is all done by them merely to give correct informa- calculated to carry out of the State an influence neithe derived from the popular will, nor the state of the case at issue." [H. OF R. aided individuals in their pecuniary arrangements with each other, and especially in the transmission of money to distant parts of the Union." Such were the sentiments of the present governor of Pennsylvania respecting the Bank of the United States after his second election; and to those who are acquainted with that amiable, high-minded, honorable man, any thing which I can say in his behalf is altogether unnecessary. If he has changed his opinion, and now believes that "this powerful moneyed institution is at this time seeking, by all the means of which it is capable, to accomplish certain objects indispensable to its existence; if "all its energies and all its powers have been put in motion to defeat the measures of the national administration in relation to measure, for its disappointments heretofore, and for the failure to obtain its late loan; if the State was crippled and embarrassed in her pecuniary arrangements, and paralyzed for a time in her efforts to complete her great chain of improvements by the depressing policy of the bank, all of which is alleged by Governor Wolf, in his message of the 26th February, he merits the highest meed of praise for exposing to the world the course of conduct pursued by this moneyed monopoly, and his determination no longer to advocate and support an institution so capable, and apparently so ready, in order to subserve its own purposes, "to bring indiscriminate ruin and distress upon an unoffending community." What Pennsylvanian does not know that it was owing to the decidedly hostile exertions of the friends of the United States Bank against Governor Wolf, in the fall of 1832, that he came near losing his election? In 1829, his majority in the city and county of Philadelphia was nearly 11,000 votes, and in 1832 the majority of his opponent, who was the same candidate that ran in 1829, was about 1,20--making the difference of about 12,000 votes against Governor Wolf in Philadelphia city and county. Every intelligent citizen of Pennsylvania cannot fail to remember that, in 1832, Governor Wolf's friendship for education, for the establishment of common schools throughout the Commonwealth, his zeal and anxiety for it; if the State of Pennsylvania is indebted, in a great the promotion of our internal improvement system, had Faned him many warm, and, apparently, unchangeable friends in Philadelphia. But the bank, the honest, nonpolitical bank, could not suffer any person to be elected who would, directly or indirectly, be instrumental in the re-election of that tyrant, that usurper, that Cromwell, that Cæsar, that Napoleon, to the Presidency, in November: and thus we find Governor Wolf denounced by the bank party. We see Clay masons, grand masters of lodges, casting off their jewels--throwing to the wind the square and compass-meeting in convention, and abandoning the leader of the "American system"--coming out almost en masse for the anti-masonic candidate for governor; not because he was the decided friend of education and riternal improvement, not because he was the choice of the national republicans, not because he was better qualified than Governor Wolf, but simply because Ritner had sad that he who was hostile to the Bank of the United States had neither a sound head nor a good heart," and our worthy governor would not denounce those of his friends who differed with him as to the propriety and advantages of a national bank, when asked to do so by those who were its advocates and supporters. Had he cringed and fawned for the friendship and influence of that corTrapt moneyed aristocracy, we should not have seen a change of twelve thousand votes against him in Philadelphia. He was a favorite in that city; the liberal and enlightened policy adopted by him had met with universal approbation from all political parties in that commercial emporium. Governor Wolf, like many other friends of the United States Bank, among whom I may be permitted to say I was one, was unwilling to believe that it had lent its aid to political purposes. But he has seen and felt its influence in preventing our State loan from being taken. He has seen and felt the blow which that aristocratic monopoly has attempted to inflict on our system of internal improvements, and which has been so ably exposed by one of the Senators of Pennsylvania; but, thank God, the "Key Stone" is too firmly fixed to be driven from its purpose by the threats and denunciations of the Bank of the United States, and, in spite of her efforts to depress our stocks, we see them rising in the market every day--our improvements rapidly progressing to completion, and bidding fair to yield a rich harvest to the Commonwealth for the immense sums expended in their construction. This much I have deemed it my duty to say in relation But how true it is that "God made the country, and to what has been termed by gentlemen the time-serving man made the town." Ninety-nine good turns were of course" of our patriotic governor. As an honest, incorno avail when he was required to forsake his friends and ruptible, and intelligent chief magistrate, devoted to the throw himself into the arms of Nicholas Biddle. It was best interests of his country, I could not see my friend in vain, he said, I have always been the friend and advocate (and I am proud to call him such) wantonly assailed without of the United States Bank. My message shows my attach raising my feeble voice in his defence. His name and his ment to that institution: I consider the bank of immense conduct have been needlessly brought before this House importance to regulate the fiscal concerns of the country. in debate, and his motives impugned, and, as an excuse The partisans of the bank say this is not sufficient. You for my remarks respecting him, permit me to say- "Absentem qui rodit amicum, Aut non defendit, alio culpante, Ille est niger, hunc tu, Romane, caveto." must go ahead" still further: denounce the President and the veto messige; use your exertions to hurl him fm his seat; come out from among the friends of Jackwa, or you shall feel the force of our power, the weight It is alleged in the memorial from Northumberland our influence. To this cause, and this alone, may be "that the disbelief that the President was opposed to a attributed such a tremendous and unexampled change of United States Bank secured his re-election in Pennsylvania, the vote in Philadelphia from 1829 to 1832. is a fair deduction from the interests the people of the Notwithstanding Governor Wolf was thus most shame-State have in the continuation of the bank." I cannot fully abandoned by the bank party at his election in Octo- permit this assertion to pass without a few remarks; and, ber, 1832, and would have been perfectly justifiable in in order to satisfy those who believe that the bank ques denouncing the political exertions of that institution to tion was not agitated before the last Presidential election defeat his election, we find him, in the honesty and sin-in Pennsylvania, I will ask permission to read an extract Serity of his heart, in his message to the Legislature on from the Lycoming Gazette, a democratic paper printed the 6th of December following, regardless of personal in the town where I reside. It is dated October 24, 1832, tonsiderations, devoid of vindictive feelings, speaking fa- just nine days before the electoral election, and reads thus: Wrably of the bank. He says: "It has certainly done "The Clay convention reassembled at Harrisburg on the country some service; it has established a circulating the 15th instant, after a secret session of nearly two days, am in which the people have confidence; it has determined on withdrawing their electoral ticket, and greatly facilitated the operations of Government; it has adopting that of the anti-masonic party, pledged to sup |