Phenix Gazette

The assertion of the Richmond Enquirer, that it is "a bare faced sophism" to contend that the Bank of the United States may rightfully employ part of its funds to vindicate itself before the people when assailed by the executive, is but an assertion.

We have advanced the opinion thus denounced by the Enquirer, and as we are not in the habit of indulging in sophisms, we choose to put ourselves rectus in curia.

The Directors of the Bank are the agents of the stockholders of the Bank, of the widows and orphans who own that species of property.

They are bound, by every legal and moral obligation, to sustain the institution and advance its prosperity.

This institution thus confided to their care, became an object of dislike and hatred to the President of the U. States, and by his direction, the combined, organized and concentrated action of the government was directed to prostrate its credit and endanger its existence.

Well! was the Bank thus assailed by the Government of the nation, to come to the people for efficient aid to defend it before the people?- rely upon their disjointed, and in many cases inefficient efforts-who might happen to think favorably of it, and commit its cause into the hands of volunteer friends in the press attached to his interest, the Bank might well have left its defence to its volunteer friends.

But the President of the United States himself descended into the arena, and the Bank, had injustice, to follow him there.

No! the correct and proper way was for the Bank to take its own defence in its own hands and to see that it was ably conducted.

What "sophism" there can be in a process of clear reasoning which brings us to such a result, we cannot imagine.

The conclusions naturally follow from the premises.

If the Executive had thought proper to have permitted the attack upon the Bank, to be carried on solely by the partizan press attached to his interest, the Bank might well have left its defence to its volunteer friends.