The Rhode Island Republican

From Col. Benton's Speech.

Mr. Benton having resumed his remarks upon the Bank said 'he would take leave to read a paper replete with facts and sentiments applicable to the present attitude of the Bank of the United States, though written thirty years ago, and a reference to which he should have frequent occasion to make. It was a part of a letter from the great apostle of American Liberty (Mr. Jefferson) to Albert Gallatin.'

Mr. Kane, at the request of Mr. B. read the paper.

This institution is one of the most deadly hostilities existing, against the principles and the form of our Constitution. The nation is, at this time, so strong and united in its sentiments, that it cannot be shaken at this moment; but suppose a series of untoward events to occur, sufficient to bring into doubt the competency of a republican Government to meet a crisis of great danger, or to unhinge the confidence of the people in the public functionaries; an institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the Government.

I deem no Government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. What an obstruction could not this Bank of the United States, with all its branches, be in time of war? It might dictate to us the peace we should accept, or withdraw its aids.

Ought we then, to give further growth to an institution so powerful, so hostile? That it is so hostile we know, first from a knowledge of the principles of the persons composing the body of Directors in every Bank, principal or branch, and those of most of the Stockholders; secondly, from their opposition in the measures and principles of the government, and to the election of those friendly to them: and thirdly, from the sentiments of the newspapers they support.

Now, while we are strong, it is the greatest duty we owe to the safety of our Constitution, to bring this powerful enemy to a perfect subordination under its authorities. The first measure would be to reduce them to an equal footing only with other Banks as to the favors of the government. (That is, as to public deposits.)