RESOLUTIONS.

duce of this country which ensued, and the commercial
embarrassments consequent upon that depreciation.
5. Resolved, That in the opinion of this legislature,
the act of the Secretary of the Treasury of the United
States, generally known as the Specie Circular, has had
the effect to destroy confidence in the banking institution
of this country; to create an unnatural drain of specie
from the East, where it was necessary to the opera-
tions of commerce, to the West, where it was not neces-
sary for such a purpose, and in a word, to place the
whole of the hanking institutions of the country char-
tered by the States, in their sovereign capacity, in the
power of the Executive of the General Government, to
a most injurious degree.
6. Resolved, That this Legislature regards with dis-
approbation and solemnly protests against the adoption
by Congress, of the proposition made by the President
of the United States, in his two last messages, to estab-
lish a system of Sub-Treasuries; inasmuch as such a
system would produce a positive distinction between
the government and the people, which in the opinion of
this Legislature, are, and should be one; and would also
establish a union of the purse and sword in the hands
of the Executive; which would be contrary to the spirit
of the Government of the United States and dangerous
to the liberties of the people.
7. Resolved, That a copy of the aforegoing resolu-
tions be transmitted to each of the Senators and Repre-
sentatives in Congress, from the State, as expressive of
the views of this Legislature upon the subjects therein
set forth.

No. 78.

1837.

Resolutions relative to the establishment of a Nation-
al Foundry.

WHEREAS, the President of the United States, in
his late annual message, did recommend the establish-
ment of a National Foundry; and whereas, it is im-
portant to the people of these United States, and of
the State of Maryland in particular, that said Found-

Passed Feb. 9,
1838.