The pilot. [volume], April 02, 1840, Image 1

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Vol. I.
THE PILOT,
EDITED BY
DUFF GREEN.
Ts publiihed at No. 11, Water Pt. Baltimore, nearly opposite
Cheapside.
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tisements ordered in till forbid, will be charged fifty cents for
each subsequent insertion.
RICHARD J. MATCHETT. PRINTER.
GENL. HARRISON.—When four years
ago Geul. Harrison was nominated for the Pre
sidency, the mere politicians of both parties had
but little idea of his strength with the people.
Men, who make a business of politics, are too
apt to become heated partisans and thus over
look the elements of popular confidence. In
•the first place Genl. Harrison is the son of a
Virginia gentleman of the old school, when
Virginia had many sons, fit to associate with
Washington, Jefferson, Henry, and Madison,
and was educated under the strong impulses
of the Revolution. From Virginia, and these
revolutionary scenes and impulses, the young
Harrison was transferred to the great West,
where nature is exhibited on a scale calculated
to call forth the nobler qualities of man, and
teach him that where God has given so much
to promote his comfort and happiness, man
himself is bound to do his part in harmony
with the Creator.
Called at an early age to preside over a ter
ritory, an empire in extent and natural re
sources, he carried into the discharge of his of
ficial duties, the sympathies, the feelings and
principles which yere the natural growth of
his early associations; and which by assuring
liberal justice and good faith, made liirn a pa
rent to his own people, and the beloved, even
of his savage neighbours. Of his treaties and
his influence over the Indians, and the wise
and humane policy by which it was acquired,
we will speak hereafter. It is of his claims to
to the confidence and support of the people; ol
the elements of his popularity that we would
speak now. None but those who have lived in
the frontier—none but those who have studied
man, released from the arbitrary restraints of
•denser communities; —none but those who have
seen man, the avenger of hit own wrongs, can
appreciate the talents and administrative qual
ifications of the youthful governor, who by the
force of his own character; by an equal and
impartial administration of har
mony and good will, peace and quiet, and a
ready acquiescence in all the salutary restraints
of the law; and whoso discharged the arduous
and responsible duties of his office, as to silence
all complaints in the feeling of respect, confi
dence, and aflectiou, which hallows the remem
brance of his deeds, even unto the present
day.
When we look back to this early period of
his history,and remember that he carried with
liim into the camp, and into the field of battle,
the same regard lor justice—the same sympa
thy for his fellow, the same firmness and moral
courage, we will at once see the sources of that
popularity which, in the present trying emer
gency, qualifies him to be the candidate of the
people, in the effort they are now making to
rescu.' the government from the unfaithful and
corrupt public agents, who have reduced the
country, in times of profound peace from a
state of unexampled prosperity to a condition
of the deepest distress. His popularity is not
the accident of the times. He is not the mere
conquering hero. He is beloved in private
life, the efficient and faithful public servant.
"THE AVAILABLE CANDIDATE"
The Globe and its echoed would disparage
the People's Candidate by insinuating that his
chief recommendation is his " availability
It is true that a most strikingsign of the pre
sent times is that individual ambition is silen
ced under the feeling that every patriot should
contribute something towards the rescue of the
country. The conduct of those who,forgetting
or foregoing their own preferences, have united
on Gen. Harrison as the available candidate,is
a most striking proof of their disinterested con
viction of the necessity of sacrificing something
for their country; and so far from its being an
argument against -him that he is supported by
men and parties of conflicting interests and
opinions; that single fact speaks, volumes
THE PILOT.
"POWER IS ALWAYS STEALING FROM THE MANY TO THE FEW."
BALTIMORE, THURSDAY, APRI L 2, 184©
against the misrule of those,whose maladminis
tration has been such as to drive into a com
mon support of thp opposing candidate, men
so much opposed to each other. And it is an
argument in itself unanswerable, in behalf of
Gen. Harrison, that all these conflicting ele
ments unite on him with a common confidence,
and give him their voluntary suffrage, with no
other commitment on his part than, the histo
ry of his public service, and no other guaran
tee, than his unimpeached patriotism and in
tegrity. These are indeed, signs as encourag
ing as they are gratifying—encouraging be
cause they are an earnest of success—and gra
tifying not only because they are an earnest of
success, but because that success will be a tri
umph over the selfish and sectional feelings
which tend to sever those who should be united
m the maintenance of that independence and
public liberty, which was purchased by the
blood of our fathers.
There are some iruths about which there is
no dispute—Even Mr. Grundy and Mr. Bu
chanan admit that a scarcity of money will re
duce wages—ls money scarce and are wages
low? If these questions are answered in the
affirmative, we would then ask the laboring
man why is it so ? Why is it that he cannot
get employment? Why is it that no one now
thinks of building a house; and why are the
willing hands idle all the day long?
Is thik affliction sent upon us for our sins' Is
it because the people have worshipped the idol
which they set up, as the work of their own
hands? Who can read the eloquent appeal of
the Prophet Isaiah and not feel how applicable
it is to our condition as a nation? He says;
Hear, O Heavens, and give ear O earth, for
the Lord hath spoken, I have nourished and
brought up children, and they have rebelled
against me.
The ox knoweth his owner, and the ass his
master's crib, but Israel doth not know, my
people doth not consider.
Ah, sinful nation, a people laden with ini
quity, a seed of evil doers, children that are
corrupters; They have forsaken the Lord, they
have provoked the Holy One of Israel unto
anger, they are gone away backward.
Why should you be stricken any more? Ye
will revolt more audjnore; the whole head is
sick and the whole heart is faint.
From the sole of the foot even unto the head
there is no soundness in it; but wounds and
bruises and putrifying sores: they have not
been closed, neither bound up, neither mollified
with ointment,
Your country is desolate, your cities are
burned with fire, your land, strangers devour
it in your presence, and it is desolate as over
thrown by strangers."
And again, pursuing the same subject hesays :
"Wash you, make you clean; put away the
evil of your doings from belore mine eyes;
cease to do evil; learn to do well; such judg
ment, relieve the oppressed, judge the father
less, plead for the widow. Come now and let
us reason together saith the Lord: Though
your sins be as scarlet, they shall be as white
as snow; though they be red like crimson they
shall be as wool.
If ye be willing and obedient, ye shall eat the
good of (he land :
But if ye refuse and rebel, ye shall be de
voured with the sword, for the mouth of the
Lord hath spoken it.
How is the faithful city become a harlot: it
was full of judgment; righteousness lodged in
it; but now murderers.
Thy silver is become dross—thy wine mixed
with water;
Thy princes are rebellious and companions
of THIEVES, everyone lovtth gifts, and fol
lowetli after REWARDS: they judge not the
fatherless, neither doth the cause of the widow
come unto them.
Therefore saith the Lord, the Lord of Hosts,
the mighty one of Israel, Ah, 1 will ease me of
mine adversaries, and avenge me of mine ene
mies :
And I will turn my hand upon thee, and
purely purge away thy dross, and take away
all thy tin:
And 1 will restore thy Judges as at the first,-
and thy Counsellors as at the beginning; after
wards thou shalt. be called, the City ol Righte
ousness the faith!ul citv."
The Globe of February 3d. 1840 speaking of Mr.
Buchanan's speach says:
"There was a bold position taken by Mr. Buch
anan which us he was then the only representative
for Pennsylvania, we were proud to see him take.—
It was that the Bank of the United States had for
feited its charter, and that the state should at once
be delivered from it. He said that the Bank had
been guilty of several palpable violations of its char
ter, —that it was at the mercy of the Legislature,—
that it had prononnced its own doom, and that it
remained for the Legislature to execute the sen
tence.—This we hope it will soon accomplish by a
repeal of the law which the bank on its part has in
effect abrogated by its violations.—But if the Legis
lature should fail to perform its duty, we rejoice to
find that Mr. Buchanan holds it to be the duty of
the Executive to put an end to tho Institution
through tho "agency of the judicial tribunals."
Comment :
It has been a matter of surprise to us that this
outrage on propriety should have been passed over
without a word of censure. —So far as we have seen
not a press has spoken of the of the Globe
in thus commanding the Legislature of Pennsylva
nia to repeal the charter of the Bank ! And who
is it upon whom the accomplished Senator and the
Globe wage this war of extermination ?
UNITED STATES BANK.
Incompliance with a resolution of tho House of
Representatives, the Auditor General of Pennsylva
nia a few days since communicated the following in
formation relative to the L'uited States Bank.
Statement of the Stock of the Bank of the United
States of Pennsylvania, January 1, 1840.
No. of persons holding Stock to the amount of
5 shares and under, 864
do do 10 " 661
do do 20 " 732
do do 50 " " 994
do do 100 " " 588
do do 500 " " 814
do do over 500 " " 80
Par value of the Stock, SIOO per share.
The number of shares held by -
Females, ... 29,876
Executors and Guardians, - - 4,256
Trustees, - - - 16,248
Benevolent institutions, - - 1,758
Number of Stockholders in Europe and Elsewhere,
excepting U. States,
Great Britain and Ireland, - 1184
France, ... 36
Spain, - - - - 59
Portugal, ----- 6
Germany, - - - 10
Holland, ----- 26
Belgium, - - - - 1
Prussia, - - - - 1
Denmark. - - - - 2
Switzerland, - - - - 4
West Indies, - - - - 52
East Indies, .... 1
South America, - - J _ 2
Mexico, - - - - 3
Nova Scotia, - - - - 2
Statement of the amount of five, ten, and twenty
Dollar Notes, of the Bank of the United States in
circulation on the Ist of January, 1840.
Five Dollar notes issued under the
Bth section of the Improvement
Act, passed July 19, 1839, $ 20,000 00
Ten Dollar notes, 1,831,110 00
Twenty Dollar notes, 1,138,880 00
Statement of the amount of five, ten, and twenty
Dollar Notes, of the Bank of the United States in
circulation on the Ist of April 1838
Fi\e Dollar Notes, none.
Ten Dollar Notes, $2,136,000 00
Twenty Dollar Notes, 1,046,000 00
Number of Stockholders in the United States.
Maine, ----- 16
N. Hampshire ... 23
Vermont, ----- 4
Massachusetts, ... 106
Rhode Island, 40
Connecticut, - - - - - 60
New York, - - - - 230
New Jersey, - - - - 117
Pennsylvania - - - - 1481
Delaware, - - - 51
Maryland, - - - - 289
District of Columbia, - 37
Virginia, - - - 211
North Caarolina, - - - 27
South Carolina, ... 340
Georgia, - - ... 36
Ohio, 22
Kentucky, - - - - - 18
Tennessee, - - - - 4
Indiana, ----- 2
Illinois, ----- 4
Alabama, ----- 1
Missouri, - - - 2
Mississippi, ... - 1
Louisiana, ... - 11
3133
The nobility holding Stock are:
Earls, - 2
Marquises, - - - 2
Counts and Countesses, - 8
Lords, - - - - 2
Knights, Barons and Baronets, - 28
The reader will be surprised as we were to find
29,876 shares of this stock belonging to Females,
4,256 to Exectors and Guardians, 16,248 to Trus
tees and 1,756 to Benevolent Institutions—but that
surprise will cease upon a moments reflection.—
The stock of this bank was considered the best in
vestment for persons of this class.—The widow and
orphan, unable to manage their little capital, the
saving—the hard earnings of a beloved husband, or
the lamented parent, invested it in the stock of this
bank, hoping to receive the means ofsupport ; but
no, —abuse of the Bank was decreed as a party mea_
sure, —the estates of the widow and the orphan
were to be sacrificed to accomplish a party end, and
hence the Senator from Pennsylvania, and the Edi
tor of the Globe, pronounced exparte denunciations
deeply affecting the credit of the Institution and
greatly depressing the value of the estate of tho
Bank in which their bread was placed,—what a
spectacle is here presented ! bow deeply humiliat
ing are the reflections associated with it ! Mr. Buch
anan is a gentleman, aspiring to the respect and
confidence of his country, and yet such are his po~
litical associates that he seeks popular favor by such
expedients.—To say nothing of the ruin and wide
spread desolation whirh the sudden winding up ofthat
Institution would create, what are we to think of the
political morality, which regardless of the tears of
1 the widow and the orphan would purchase exalted
office by nch appeals to the passions and misguid
ed prejudicesof his fellow citizens.
THE ISSUE.—We are indebted to the
Globe of the 27th February for a declaration
of the purpose to be accomplished Iw the Sub-
Treasury; That paper says:
"We received by this morning's western
mail, a letter from the greatest and wisest man
of our country in which he says; 'The passage
of this bill (Independent Treasury) and the
bank of Pennsylvania being put down—its
charier being repealed by the Legislature of
Pennsylvania—will at once give more relief to
the present pressure than any thing that can
be done. Our solvent banks being relieved
from the constant drain of specie by the frauds
and machinations of the directors of this bank.
This will put down all insolvent banks and re
lieve the people from the curse of a depreciated
paper, which we now labor under, and which
I trust we will never again be visited with.
The eyes of the people are now wide awake to
this evil. They will sustain the Government in
putting down the paper credit system, and all
hills under twenty dollars, and / hope ere long,
all bank notes under one hundred dollars."
Here is the distinct avowal, of a settled pur
pose to pet down the paper credit system, and
ALL BILLS UNDER ONE HUNDRED
DOLLARS. Is it not matter of surprise that
with this creed engrafted on the flag of the
party, Mr. Buchanan should declare that he
is not hostile to banking?— What is the paper
credit system which is to be put down? What
else but the Banking system is intended?
For the present we pass over the repeal of
the Charter of the United States Bank, and
meet the proposition to put down all banks by
suppressing all notes under one hundred dol
lars.
In the political clamor against banks and
banking, the end for which banks are created,
and the description of persons who own the
greater part of bank stocks, are overlooked.
In long established communities there is a gra
dual accumulation of capital in the hands of
persons who cannot administer it themselves—
and it will be found, if we analyze the list of
stockholders of most banks, that a large part
consists of females, guardians, trustees and be
nevolent Institutions—because banks are or
should be under the management of intelligent
men, who manage the funds entrusted to them,
so as to give a certain and fixed income—lf
business men, who are familiar with the oper
ations of trade, find it difficult to manage the
banks so as to give certain and lair dividends,
how can the widow and the orphan be protect
ed against loss? The experience of ages has
confirmed the wisdom of such investments; and
it will be found when the losses by banks and
bankers are compared with the losses in trade,
or even on real estate, that the balance will be
in favor of the banks.
It will thus be seen that whatever may be
the character of (he first subscription to banks,
the slock is gradually absorbed by surplus cap
ital belonging to innocent parties, widows, and
orphans, and persons unable or unwilling to
perform the labor of its daily administration—
What a spectacle then is presented when grave
senators make a war of extermination on this
property!! And when appeals are made to the
passions and prejudices of a misguided party,
urging them to deprive the widow and the or
phan of their bread, by destroying the value of
the ban K stock on which they relv for subsist
ence?
But we will be told that the hanks have sus
pended specie payments; that the object of the
party is to compel them to redeem their notes
in gold and silver. Now it so happens, that
wherever the policy of the party predominates,
—there the hanks have suspended,while where
the banks are permitted to issue small bills,
there specie is abundant and tha banks redeem
all their issues in gold and silver.
The war is not only against the paper credit
system, but il is to be gradual — O&'it is to be
continued/or FOUR years; it is to run through
the next presidential term, and to furnish new
food for political agitation. We have been
told from high authority that ii'vve divorce the
government from the banks, agitation would
cease, and business and confidence revive; but
now we have it upon even higher authority,
that the war is to be continued, that the busi
ness and credit of the hanks are to be assailed
until all notes under one hundred dollars are
driven from circulation. This may serve the
purpose of those who enter into competition
in courting popular favor by such means,
but what will be its eilect on the business, the
enterprise, the character, credit and labor of
the country? If this war is to contiuuo another
lour years, will not its effect on business and
labor be the same that it has been for the last
four? If you drive all bank notes, less than
one hundred dollars/rom circulation, will it not
reduce the value of all property, and by de
pressing prices lessen the value of labor? Will
it not ruin the industrious and enterprising
poor, while ,it will enrich no one but the rich
and the creditor classes? As such is the mani
fest effect, will it not put tenfold pmver in the
hands of bank officers and hank favorites,who r
having the control of capital, and of the de
mands accumulated in the banks against their
customers, will be enabled to amass estates at
the expense of the industrious and enterprising?
Is it not apparent that this war upon the banks
is but a pretence to inflame popular prejudice,
an effort of political demagogues to use the
people, regardless of their sufferings in elevat
ing themselves to power I Is there any hope of
restoring prosperity to the country, but by
hurling these pretenders from office?
PROCEEDINGS OF THE WHIG YOUNG
MEN OF ANNAPOLIS.
On motion of Alexander Randall, the meet
ing of the Young Whigs was then organized
by calling Thomas S. Alexander, Esqr. to the
Chair, and appointing Edward Thompson,
Secretary.
On motion of Samuel Davis, it was resolved
that the young Wfiigs of Annapolis appoint a
delegation of twenty-six, to attend the Whig
Young Men's National Convention, which is
to assemble at Baltimore in May next. The
following gentlemen were thereupon appointed
said delegation:
Dr. Abram Claude, William Clement Tuck,
Jos. H. Nicholson, George Johnson, Edward
Thompson, Philip Hopkins, Edwin Boyle, Jno.
E. Stalker, Nicholas Brewer, of Jno., Alexan
j der Randall, Thomas Ireland, Thomas Shep
i hard M'Neir, Charles Clarke, Geo. S. M'Kier
i nan, Edw. Augustus Davis, Owen M. Taylor,
Henry Levely, Elijah Wells, Jun'r., Dennis
Claude, Jr., Samuel Davis, George E. Frank
lin, Richard Swann, Dr. Gustavus R. Barker,
George Camden, Richard Purdy, Thomas N.
Pindell.
The meeting was then addressed by Mr.
Johnson, of the State of Ohio, and by Reverdy
Johnson, Esq., of the city of Baltimore.
On motion of Edward Dubois, the following
resolutions were adopted:
Resolved, That we, the Whig young men
of the city of Annapolis, will subscribe to the
Pilot, a newspaper to be published in the city
of Baltimore, by General Duff Green, to sus
tain the election of the candidates of the Whig
parly.
Resolved, That we will endeavor to obtain
other subscribers and contributions for the Pilot
and that we earnestly recommend to the Whig
party throughout the United States, and espe
cially to the Whig young men, to do likewise.
On motion ofOwen M. Taylor, the following
preamble and resolution were adopted:
Whereas, the election of Gen'l. WILLIAM
HENRY HARRISON and JOHN TYLER,
to the Presidency and Vice Presidency of this
Republic, will be highly conducive to its future
prosperity and happiness; and whereas, their
election much depends upon, the zealous exer
tions of the young Whigs—therefore,
Rescued," That "the Kinderhook politician is
'no go' with us," but that we will strenuously
co-operate with our young Whig friends in oth
er places, in their determination to use their
! best exertions at the approaching November
election, to obtain the people's choice—"the
HERO or TIPPECANOE" and JOHN TTJLER; both
democrats of the old school.
On motion of Joseph Phelps, the following
resolutions were adopted:
Resolved, That to ensure the election of the
Whig ticket, unity is necessary; therefore we
pledge ourselves to give it our undivided sup
port; and to make use of every honorble means
to ensure its success.
Resolved, That this meeting do recognize in.
the selection of the two individuals that the
Whig Convention at Harrisburg has made, to
fill the highest stations within the gilt of this
Republic, men of extensive attainments and
unsulled reputation, consistent as statesmen in
their devotion to their country's good, and
eminently meritorious of the support ot the
people of these United States, and that this
I meetinsr, in co-operation with their Whig
brethren throughout the United States, pledge
themselves to use all honorable exertions to se
cure their election. , „
On motion of Edward Dubois, the following
resolutions were adopted:
Resolved, Tfiat we do hereby agree to ap
point five persons to be the Corresponding
Committee of the young Whigs of this city-
Resolved, That the Chair he authorised to
name the said committee.
The Chair then appointed, as said commit
tee,
Messas. Edward Dubois, George Johnson,
Alex. Randall, Edwin Boyle, Nicholas Brew
er, of Jno.
The meeting then adjourned.
THOS. S. ALEXANDER, Ch'n.
EDWARD THOMPSON, Sec'y.
The President has recognized J. A. Van
COOTH as V ice Consul of the Netherlands for
the port of Charleston.
No. 1.