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The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, August 30, 1837, Image 1

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THE MADISONIAN.
THOMA8 ALI.EN,
IU1TOI *"?? PB0riU?T0*.
T*MS
Semi-weekly, per an 00 I Weekly, per an. f 3 00
" " months, 3 00 | ?' m months, ^ 00
No subscription will U> taken for a single copy of
cither edition, lor a term abort o! si* months , nor un
its* paid for ?? advance.
PRICK OF AnVK*TI?IMO.
Twelve linea, or less, tlircc insertion*, - |J?
Kach additional insertion, "
Longer advertisements at proportionate rate..
? . A liberal discount made to those wUO advertise by
''V/'subsciibers may remit by mail, in lulls of solvent
banks, pottage paid, at our risk ; provided it abaU ap
pear by a postmaster's certificate, that such niiuttai
has been duly mailed. , ,
A liberal discount will be made to companies of Ace
or more transmitting their subscriptions together.
Postmasters, and others authoniod, acting a
agents, will bo entitled to receive a copy o the rent
^u/u for every five subscriber, or, at that r?U cunt,
on subscriptions, generally ; the terms Ib^fuWU*
Letters and coinniunicalions intended for the esta
blishmeiit will not be received unless the posluac
paid.
prospectus.
Thk MaiiisONUH will be devoted to the support of
the principles and doctrines of tho democratic party, ?.
delineated by Mr. Madison, and will aim to consummate
that political reform ill the theory and practice of the
national government, which has. been repeatedly indi
cated by the general sull-rage, asassential to the peace
snd prosperity of the country, and to the perfection and
perpetuity of its free institutions. At this time a singu
lar slate'of atlairs is presented. 'I he commercial in
terests of the country are overwhelmed with embarrass
inent; Us monetary concerns are unusually disordered .
every ramification of society is invaded by distress, and
the social edifice seems threatened with disorgoWMtion;
every ear is filled with predictions of evil and the mur
muring. of despondency; the general government is
boldly assailed by a large and respectable portion ol the
people, as the direct cause of their difficulties ; open
resistance to tho laws is publicly encouraged, and a
spirit of insubordination is fostered, as a necessary
defence to the pretended usurpations of the party in
power; some, from whom better things were hoped, are
making the "confusion worse confounded,' by a head
long pursuit of extreme notions and indefinite phantoms,
totally incompatible with a wholesome state or the
country. In the midst of all these difficulties and em
barrassments, it is feared that many of the less firm of
the-friends of tho administration and supporters ol
democratic principles are wavering in their confidence,
and beginning, without just cause, to view with distrust
.those men to whom they have been long attached, and
whose elevation they have laboured to promote from
honest and patriotic motives. Exulting in the anticipa
tion of dismay and confusion amongst the supporters of
the administration as the consequence of these things,
the opposition are consoling themselves wuh the idea
that Mr. Van Huron's friends, as a national parly, aro
'verging to dissolution ; and thev allow no opportunity to
pass unimproved to give eclat to their own doctrines.
I'hey are, indeed, maturing plans for their own future
government of the country, with seeming confidence of
certain success.
This confidence is increased by the fact, that visionary
theories, and an unwise adherence to the plan for an
exclusive mrlalhe currency have unfortunately carried
some beyond the actual and true policy of the govern
ment ; and, by impairing public confidence in the credit
system, which ought to be preserved and, regulated, but
noi destroyed, havo tended to increase the difficu.ties
under which the country is now labouring. All these
seem to indicate the necessity of a new organ at the ?*
seat of government, to be established upon sound prin
ciples, and to represent faithfully, and not to dictate, the
real policy of ihe administration, and the true sentiments,
measures, and interests, of the great body of its sup
porters. The necessity also appears of the adoption of
more conservative principles than the conduct of those
seems to indicate who seek to remedy abuses by de
stroying the institutions with which they are found con
nected. Indeed some measure of contribution is deemed
essential to the enhancement of our own self-respect at
home, and to the promotion of the honor and credit of
the nation abroad.
To meet these indications this undertaking has been
instituted, and it is hoped that it will produce the effect
of inspiring the timid with courage, the desponding with
hope, and the whole country with confidence in the
administration of its government. In this view, this
journal will not seek to lead, or to follow any faction, or
to advocate the views of any particular detachment of
men. It will aspire to accord a just measure of sup
port to each of the co-ordinate branches of the govern
ment, in the lawful exercise of their constitutional
prerogatives. It will address itself to the understandings
of men, rather than appeal to any unworthy prejudices
or evil passions. It will rely invariably upon the prin
ciple, that the strength and security of American insti
tutions depend upon the intelligence and virtue of the .
',ct'iik Madisonian will not, in any event, be'made the
instrument of arraying the north and the south, the east
and the west, in hostile attitudes towards each other,
upon any subject of either general or local interest. It
will reflect only that spirit and those principles of mutual
concession, compromise, and reciprocal good-will, which
so eminently characterized the inception, formation, and
subsequent adoption, by the several States, of the con
stitution of the United States. Moreover, in the same
hallowed spirit that has, at all periods.since the. adoption
of that sacred instrument, characterized its pkvksck
by TUB PKOP1.K, our press will hasten to its support at
every emergency that shall arise, from whatever quarter,
and under whatever guise of philanthropy, policy, or
principle, tho antagonist power may appear.
If, in this responsible undertaking, it shall lie our
good fortune to succeed to any degree m promoting the
harmony and prosperity of the country, or in conciliating
jealousies, and allaying the asperities of party warfare,
by demeaning ourself amicably towards all; by indulg
ing personal animosities towards none; by conducting
onrself in the belief thai it is perfectly practicable to
dill'er with others in matters of principle and of expe
diency, without a mixture of personal unkindness or loss
of reciprocal respect; and by "asking nothing that is
not clearly right, and Submitting to nothing that is
wrong," then, and not otherwise, will the full measure
of its intention be accomplished, and our primary rule
for its guidance be sufficiently observed and satisfied.
This enterprise has not been undertaken without tho
approbation, advisement, and pledged support of many
of tho leading and soundest minds in the ranks of the
deinocractic republican party, in the extreme north and
in the extreme south, in the east and in the west. Au
association of both political experience and talent of the
highest order will render it competent to carry forward
the principles by which it will be guided, and make it
useful as a political organ, and interesting as a journal
of news. Arrangements also have been made to fix the
establishment upon a substantial and permanent basis.
The subscriber, therefore, relies upon the public for so
much of their confidence and encouragement only as the
fidelity of his press to their great national interests shall
prove itself entitled to receive.
1 THOMAS ALLEN;
Washington City, I) C. July, 1H;17
it sccins to me do not represent tho truepoh
Govcrnmcnt or of the party, nor are their
l countenanced as I fear they are, by presses
bsitions to give authority to their views, cal
Ithor to promote our own self-respect, or cn
k1 credit abioad.
poem calculated to retard the re-establishment
fence and trade, and the re organization of those
pis which give it life and animal,on Mv dpsire
f to adhere to th<" original^aiurmarks, to the re
ism of our fathers, and to check the downward
to radicalism which has been indicated m dif
mts of the country, in shapes sufficiently nl.irin
pprohend. to arouse every patriot, and indeed
(dividual-who has any stakes.in society, to prompt
rient action, in view of the dangers which thii
i even the social co upset. It ii in this view,
lly, hoping, to euUrgi the sources of information,
| inculcate prudence anil moderation in our couu
liil dignity in our conduct, that we would conlit
nr humble aid in promoting the credit of the na
iad, and its prosperity at home, supporting the
istralioii in good faith, endeavoring to promote its
ks and preserve harmony and union in the repub
Janks, and without wishing to interfere in anv man
li'.h the labors and interest of others engaged in the
Igreat cause In all this we seek to be tried only
lour merits Time will not ptrinit me al present
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THE M ADI SON I AN.
VOL. I. WASHINGTON CITY, WED VfESDAY, AUGUST 30, 1837. NO. 5.
OPINIONS OF THE PRESS.
KITKAt TH KHOM A OMIMUTR ATION JOl'KNALS.
From the Charlottraville ( Va.) Jrfferttmtan Republican.
Thk Maduonun.?Wo had intended for our last
week'* paper tlie article below, calling the attention of
our readeri to the prospoctu* of the .Madwoman. We
liavo received two uouiber* of that paper, and we are
highly pleaaed with it* appearance, well a* the ability
and talent* w ith which it i? conduced. And we esn now
truly commend iL to our friends aa a journal devoted to
the intereata of the Republican party, and worthy of
their aup|>ort. A few of our friends in tliia vicinity, who
have had an opportunity of examining it, luve expressed
their decided approbation that such a journal haa been |
established at the seat of Government, and have acnt on j
their names aa suhscriliers.
\\ e are aorry that we cannot present our readera with
senile articles Irom that pajier that we itad intended this
week?we shall have occaaion hereafter to give extracts
from it, and shall not be backward in so doing.
. THE MADISONIAN,
Dcruted to the sup/tort of the measures anil polity uf
the lie publican parly in Convicts.
\\ c have withheld the pros|tectus of this new organ
of (he Republican party from our column*, until we
might lie enabled to ascertain, and announce witti clear
ness to our readera, the real design* of its institution.
It will bo recollected that on its firm appearance, it met
with quite an inhospitable reception from both the Globe
and Enquirer, on account of its being o|K'iilv charged by
the tofmcr, with a covert purjiotic of sustaining the esta
blishment of a national bank This injurious inuendo,
based, as it seemed, on no evidence whatsoever, but
merely springing from a vague and jealous conjecture,
has extensively served its purpose, wo regret to say, in
drawing down upon this project from many democratic
presses, the denunciation of its being "a mere W'iliff
trick " \V nil a clear discernment, on our part, of the
many reasons that exist, for the establishment of another
Republican organ at the seat of Government, and being
at no loss to uecount for the motives of tins charge, we
desired, through a sense of justice, to make enquiries in
the proper Quarter with a view-of ascertaining its cor
rectness. U e could not ungenerously 'credit such a
rumor without some evidence of its authenticity.
1 he result of these enquiries, enables us to assure
the public, that there is not the slightest cause to sus
pect Mr. Allen in this undertaking, of any other designs,
than those which lie frankly uvows hi Jys Prospectus ; |
and, least of all, of any favor towards a national bank, i
W e rely with the utmost confidence, 011 the perfect sin- j
centy with which he has made, and the fidelity with j
which he will redeem his pledge?"to represent faith
fully, and not In dictate, the real policy of the admiuis- i
tration, and the true sentiments, measures and interests i
of the great body of its sop|>ortcrs " It is well known, ;
that the great body of the Republican partv in New I
\ ork, have signalized in recent manifestations, their j
resistance to the ruinous policy of an abandonment by
the general government of the State banks, and a collec
tion of all its revenues in the precious inctals. It is ?
believed that such a policy would conduct to three
prominent results, either of which would be sufficient
to Consign it to public reprobation :
1st. A wrongful, and exasperating discrimination be
tween the currency of the uovkkn.mext, and the cur
rency Of THE I'KOI'I.K
2d. A rapid and ruinous depreciation of State bank <
paper, and consequent destruction of private fortunes ;
and
Hilly. A perpetuation for an indefinite period of the
suspension of specie payments. To those republicans,
who heartily eschew this fatal policy, and who witness
? with deep regret and concern, the daily sup|>ort of it in
the columns of the Glolie, it is'perfectly natural, and
proper, that thev should desu'c, and support another
organ for the maintenance of their views All. too, w ho
perceive in this diversity of opinion, the seeds of divi- !
sion 111 the republican party, and are anxious to prevent
it, should regard in this establishment, the best practical
mode of submitting to our executive Head, a full and
authentic view of the real sentiments of the body of i
the republican pertv, whose interests arc, in a peculiar
degree, in his keeping, and of thus striking out a plan of
conciliation and compromise, if, indeed, such may be '
said to exist, or, if not, of at least keeping the President 1
properly advised, through this important channel of pub- I
lie information, of the opinion of his friends. I
| The distinct espousal of these views by the bulk of
I the republican party in New York, has, as we are in
1 formed, given ri.se io Mr Allen's undertaking, and we
have no doubt of hi* .receiving "the support nf many
of the leading, and soundest minds in thr. ranks of the. !
Ucmorrahc. Republican party in the extreme north, and
in the. extreme south, in the rust and in the rest." Our ,
readers have seen these subjects distinctly orought to
the minds of the people of this Congressional District by
the letters of its firm and able representative, and we
may emphatically sa>, from every evidence of public
sentiment that ha* reached us, that his views command
the approbation of ins constituents.
Under the influence of these general views, and an 1
entire conviction of Mr. Allen's fidelity to every article j
of the republican creed,- we wclcoinc the prospectus of
the Madisorian to our columns.
From the Utiea (A*. I*.) Obsrrvrr. "
W e have received the first number of '?Thr MaDi
sovuv," n new democratic paper published at the seat
of government, and have been highly giatiticd in perus
ing its contents. Its politics are tlie polities of Jeffer
son am I Mi idi*on,*and it is devoted to the support of the I
present administration. If the first number is a fair
specimen of what it will continue to be, the preliminary
attacks upon its character arc not justified, and the pa
per, 111 our judgment, will b .? approved by the democracy
of the State and of the Union It adopts the princi-.
pies, in the main, of a large majority of the democratic
press. It speaks in fearless and firm language, without
stooping below courteoiisness ; and its temper is in all
respects admirable. On the great questions of credit
and the currency, it is right, and its general views will
be sustained by the sense of the countrv. 'I'hcre can he
no doubt on 1 hiit pom'. I.oco-focoisni jp passing bv,
we trust forever ; and whoever attaches his political
? fortunes to its waning star, is destined to a speedy and
deserved obscurity. It would be well if some two or
three pipers which might be mentioned, would spi ak
out with the frankness and good sense of the Madisouian
on the topics alluded to. The ncoplc are weary of at
tempting to jM-netrate the profundity of oracles; and
'hey are beginning, like the satyr in the fable, to distrust
those who blow hot and cold with the same breath.
Their tnurmurings are already audible, as the extracts 111
j oar column* to-day will show; and as they gather
| strength, they become ominous of a determination to
j set those right who misrepresent their principles, to ex
tort an expression of opinion from those who are silent or
reserved, and to force into boldness those who are wa
vi ring Honest boldness, even in a bad cause, 1.1 far
more respected than indecision and vacillation in a good
one In this country there is nothing like plain, une
quivocatmg speech to satisfy the people. While they
acknowledge no leaders, thev are ever ready to admire
the manor the press that embodies their sentiments and
expresses them unreservedly. If the, Madisouian does
tins, its success is as certain as the triumph of right
principles.
From t\e Poughkerpsie (A". Y) Journal.
I hk M tntsoMAN ?The first number of a new paper
under this title has just been published at the city of
Washington. The name of a paper is generally de
signed to indicate its principles. In tins respect the
editor could not have made u better selection. The
name of Iho illustrious Madison is identified with the
whole history of our government, lie is justly styled,
the Father of the Constitution. That sacred instru
ment was the result of our revolutionary "struggle, and
under Ins guidance it sustained the shock of our second
war of independence. Amongst the departed heroes
and sages of the ^evolution, no one has left a purer name
nor purer principles than James Madison. It is to the
support of such principle* that the efforts of the M.idi
soiiiau will be directed.
In the. present stale of the country, there is a peculiar
propriety in the establishment of another democratic
organ at the seat of government. The evils with which
] the country is no\v beset, are unjustly attempted to he
charged on the administration. These evils have been
2 aggravated by the untiring efforts which have ttcen made
( by " visionary theorists," to introduce new doctrines
into the old republican creed. We are. therefore, pleased
I to see this new; organ based upon the true and long es
rj talilished principles of the party. The editorial articles
Jare written with a force of argument, an clegance of
diction and a versatility of talent, which are not stir-.
passed |,v any of its cotemporaries. We are assnied J
Jby the editor, in lus prospectus, that "this enterprise
has not been undertaken without the approbation, ad
visement, and pUdged support of many of the leading
I and soundest minds in the ranks of the democratic re
I publican partv, in the extreme north and in the extreme
'I soulh, in the eaot and in the west "
It has been urged in advance, that th? Madisonian
woulti go fur a National Bank, and we are not a little
pleased to perceive that it lakes strong ground sgainst
auch an lualituUou.
From Iht Saratoga (JV. V.) SriUintl
The Madisonian, u prospectus for which was issued
some lime since, made ita appearance last week at
Washington. On the subject of the currency, the all
engrossing topic, and relative to which there is so great
a diversity of opinion, it adopts the sentiments of Gen.
Jackson as embraced in his messages to Congress,
and those of Mr. Van Buren as contained tn his letter
tu Sherrod Williams ; and opposes the doctrines of (he
Globe, so far as they urc in hostility to these, but no
farther It is op|K>sed to an exclusive metallic currency,
to a National or Treasury Dank, and to a separation of
the general government from the state hanks in the col
lection of the revenue?the editor behoving that the
views of <leu. Jackson on tliaj subject mav still lie car
ried into effect. It copies, with approbation, the letter
ol Mr. Tallmadge, with the answer, the address of the
Albany- Republican Committee, the message of Gov
Campbell of Virginia, and an article from the Richmond
Knquiror attributed to the pen of Mr. Rivea. It de
clares itself the undeviatiug friend of the present nation
al administration, and so far as wo can judge from the
"first number, promises to he an able auxiliary in the
Republican cause.
From the Virginia RepuUiemu.
The Madisonian, is the title of a new Democratic
paper, recently established at Washington, published
semi-weekly at $5. and weekly at $3 per annum, paya
ble hi advancc. We have received its first and second
numbers, arid, from the style of its editorial, we judge
its editor to be a talented and polished writer. Its typo
graphical appearance is very handsome.
From the At to Haven (Cl.) Register.
Thk Madisokiax?We have received the two first
Numbers of a setni-woekly newspaper which started
into existence at Washington city on the 16th instant,
Thomas Allen, Esq editor and publisher Mr. A. is
we believe, from the good old democratic stock in Pitts
li?!d, Mass. where he was connected for some tune with
a newsjtuper. The Madisouiau is conducted with
much talent, and its doctrmea are generally auch us
must commend them to tho conscience of every sober
friend of the country ? We-say generally, because the
editor is almost too lenient towards the state banking
system Ho is, however, right in opposing sudden re
forms in any measure so important to our country as
tliHt of the currency. In this matter we have uniformly
thought ( Jen Jackson was wrong in his course towards
the U. S. Bank If that institution was as bad and
dangerous as represented bv some of keener perception
in such matters than ouraelves, still as (Jen Jackson
had tho nionster'a horns in his hands, he might with
strict propriety have used more moderation ill putting
the knife to its throat; and-we vet believe it might have
been so poked and fettered, as to have, been permitted
to exist with benefit to the country. Mr. A. is opposed
to a National Bank?and so far as the whig proposition
to revive the Pennsylvania mammoth into a national in
stitution is connected with the question, we can go
with him. That bank once out of the way let it never
be revived ; it would be a concession, which the peo
ple should never make to any bank or other corpora
tion ; the creators should stand far above all creatures
If we must have a national bank, (and we honestly be
lieve we must and shall have one at some future day,)
let it be wholly a new fmn, with new stock. The Madi
soman objects to the new doctrine of " separating Bank
and State"?and keeping the people's money in tho
hands of treasury agents throughout the country. '1 Ins
opposition to irresponsible agents is truly democratic,?
No honest and responsible olliee-holder would wish to
J>e the depository of the public moneys?and such as
are not honest and responsible, ought not to hold the
public funds. The Richmond Enquirer, and the poli- j
ticians of the old orthodox state of Virginia, we are glad
to see have taken a stand against the proposition ol
treasury agencies. The Enquirer agrees with the Mudi
sonian, that the treasury department must rely on the
agency of sound state banks until some lietter plan ;
can be devised than that of employing individual agents J
of the treasury.
" Wre infer from the language of the Madisonian, that
the editor w ill not tolerate for a moment the anti-repub
lican cant lately put forth that the " State" or govern
ment, is something greater than the people." Such lan
guage might answer among the slaves ol despots, but it
cannot be allowed of by free. Americans. Here ?e
know of no state or government distinct from the people
?and here the people will frown on any thing which
professes to l>e u "conservative" government, ami yet
dares to talk of a specie currency for the " State," and
foj- people paper money or any tiling else which they can
obtain. The.people will not put up with any thing short
of the people's own best money. The people may sepa
rate, and cast off from them assuming and presumptu
ous statesmen, but they will never consent to be " sepa
rated" frotn the " State."
We are sorry the Madisonian docs not coine out more
decidedly for a gradual " expunging" of the State banks.
We have, us a nation, been lifty years running into
banking sin and misery-T-and it would require 30 or 40
years to reach a healthy condition of the currency, if
the people were to begin immediately to scour up the
pruning knife, and prepare for judicious and steady ac
tion against vested rights to do wrong.
From thr AVit> 1 ork Timrs.
The two first numbers of " TJie Madisonian" have
j been received in Ih:-t city, and the high order of know
I ledge anil talent displayed in the editorial department is
equalled by the sound sense and practicability ol the
1 measures it recommends and avows its determination
j to support If the Madisonian is not " at present dis
tinguished by the favor of the administration," there can
lie no doubt, fro:n its candid and respectful tone and
! conservative principles, that it will be distinguished by
the favor of the people."
From the Frrdrrirk (Mil ) Timrs.
We have received the first number of " The Madi
sonian," (a new paper?friendly to the National Ad
ministration,) published iu the City of \\ ashington. It
j is printed on a largo sheet of superior paper and the
mechanical work is exceedingly well executed. Judg
ing from this number we should conclude, that tho edi
tor is a gentleman of splendid attainments?possessing
talents of the first order, and well versed in the political
principles of the Jeffersonlan school, \V e have not the
1 least doubt hut that he will prove a valuable auxiliary to
the cause of the people in his editorial labors. His
views in relation to the currency question, (which has
absorbed all others,) and the proposed means ol reliev
ing the people from iJictr embarrassed condition, nre in
j strict accord with our own. The Washington (ilttht
and the. Mcultionitiii, in relation to this question, are as
opposite as the poles ; time and experience only cun de
termine which is right. As regards ourselves; we go
for and shall sustain the conservative doctrine of the
party, and the regular credit system. We would re
spectfully commend "tho Madnsoniin'' to tho serious
consideration of the Republican party of tins county
and state,'?s being in our opinion, the legitimate organ
i of the true principles of the National Executive The
prospectus ol the Madisonian sh ill have a place in our
' next number, and from its perusal tho peo'ile will be
enabled to judge of the correctness ol the principles it
intends lo advocate.
From thr Osirego (A. V) Palladium.
Tiik Madisonian.?The firMt number of this pro
. inised new democratic journal at the se it of the General
Government is In-fore ns, and from a hasty sketch of its
contents and tone, we augur much pood Iroiu its esta
blishment. fts i ditorials nre of the first older, exhibit
ing their author us a strong and talcutid writer, with a
mind well stored with |>olitieal and oilier intelligence,
peculiarly calculated to command the patronage and
favor of the politician, and others seeking news which
radiates from the centre of our glorious Union. It will
i support the pohev of the present administration, and the
republican party of the country, with zeal and good faith,
and, we Irnve no doubt, will prove itself lo be an im
1 portant auxiliary to the republican press of the nation
Wo have not room tlus week to make any extracts from
its columns, anil therefore cannot gratify our.reach rs in
that respect, but we shall take occasion hereafter to do
so. It is published semi-weekly at 35 a year, and
weekly at bv Thomas Allen, Esq i editor and pro
prietor. II./ Those who may wish to s'lhscriWfor it
can do so, free of the expense of posfsge, by leaving
their names at this office The first number can also
Ite examined at this office.
From the Ca^ugn (A. 1 ) Patti<'
' The "MaOISOXhn," is the title of a new administra
tion paper, established at Washington City. W c have
not vet seen it. but from the notices we have seen ol it.
we think it will prove to lie a highly valuable acquisi
tion to the democratic party. It avoid.-, the ultraisui of
tho Loco Focos od the one hand, and of Whiggcry on
the other Wo copy the following notice of it from tho
Now York Times, and unite with tho Times in the wish
that the " GIoImj would use ita influence to onforc?such
doctrine* " We also agree with the Time# in saying,
if the Madisonian continue to enforce such doctrincs,
?? wo wish it prosperity, for tho welfare of ottr country,
and (he ascendancy of our party depend upon their pre
valence." /
From the llagmUnrn (Md.) Cmuirr and Enquirtr.
Th* Maihsonun?Wo have received the first num
ber uf this paper, and copy a part of its introductory
addrfHa to the public. Froui the style, wo ure inclined
to lift opinion that a master hand wields the editorial
pen. ' In our next we may give the address in full
The following paragraphs give some of the editor's
views on the all-engrossing subject of a bank. I hey
will be read with interest by many of our subscribers.
For ourselves wo are not prepared to venture an opinion
upon the subject of their correctness?but they appeur
lo us, on first blush, a* far more feasible than many we
have heard advanced from other Muurctt.
From the (htoiuinga (N. F.) Stamlaril
The Manisonian.?The first number of a new paper
published at tho seat of the General Government, under
the above Utlo, the prospectus for which has lieen in
serted in our advertising columns for some weeks pa*t,
has been received ; from which wo copy its Address to
the Republican* of the United Stales, to which wo invite
thr attention of our leaders, and its remarks iijioii the
Address of the Albany Republican Committee.
From thf Ulster (A. F.) Sentinel.
A new republican paper baa been established at
Washington, undej the title of the "Madisonian " The
editor, whoap|>ear? to possess uncommon talents, takes
strong ground oeainst a National Hank and in favor of
State Banks. His first number contains the following
remarks on the all-absorbing subject of the currency.
From thr liu hmmul Enquirer.
THE MADISON I AN.
We have received tho two first numbers of
this new paper, established at Washington by
Thomas Allen. It is published on Wednes
days and Saturdays, at $b a year. We have
mutle extracts from it in another part of this
day's paper. It is edited vnith spirit and
talent?and is handsomely printed. Mr. A.
declares himself attached to tho cause of the
Administration, and to tho best interests of
the Republican party. Ho disclaims in the
strongest, terms, the idea, that he is in favor
of a National Hank. He says:
" Our views in relation to a National Hank
are best expressed in the speech of Mr. Madi
son,against the first Hank of the United States,
which we will publish in our next paper. The
name of Madison seems to have disturbed the
minds of some of our cotcmporaries, who have
expressed an apprehension that we mean to
4 revert to the Madisonian era for a salvo for
our disorders.' Let such read that speech,
and learn what it is to be Madisonian in re
spect to a National Hank, of whatever form,
whether a Treasury or an Incorporated Hank."'
The Madisonian " goes with the late and pre
sent Administrations in their opposition to a
National Hank"?but it does not go in a " war
of extermination," recklessly waged " against
the State Hanks and the whole creilit system."
It publishes a Correspondence which the Edi
tor has had with the Chairman of the General
Republican Committee of New York, in the
course of the mouth?in which Mr. A. direct
ly avows the articles of his political creed.
The Whigs are flattering themselves with
the hope of schisms in our ranks, and with a
civil war between the Globe anil the Madiso
nian. It is idle to deny the chances of such
an occurrence, unless ottr jjolilical friends will
practise on the maxim of our correspondent in
Washington, " Hear and Fojrbrar.'
The Alexandria Gazette says, " The lute
Jackson party is evidently split in twain, j
Forewarned, Forearmed.?Shall we permit j
ourselves to be t<plit in twain, and let the
mammoth National Hank pass into the cita
del ? No. Shall we break to pieces, when
the ominous signs in Kentucky and Indiana
are wiirning us of the necessity of union in our
ranks ? No, no. Then, how are we to avoid
it ? IV practising forbearance and harmony.
JJear mi(I Forbear?And be our rallying cry,
No Hank of the United States?AW
. and J'ircver!
I'U HLl C OPI N I ON.
R IT U n I-1 C A N c O N V E N T I () N.
From Mr Utira (A? 1 ?) Ohrrrvrr.
Thr Voire of Oneida ? The proceedings of the De
mocratic Republican Convention, held last week at
Hampton, occupy a large space in onr columns, and
will arrwst the attention of the democracy here, and, we
believe, throughout tlie State. Oneida county, ever
sincc her first triumph in the cause of democracy, lias
been truly regarded as the fast friend of correct princi
ples ; and' the tone and temper of the proceedings of tin
late Convention will show that she is not recreant now,
when the political elements are strangely confused and
agitated. If those who have hitherto acted in trium
phant (yincert, shall not suffer personal interest, and
local excitement to sever their unity, and thus open a
breach for the success of their common enemy. Novem
ber will confirm, through the ballot box, what the dele
gates of the people have proclaimed, as the popular
sentiment in the addresses and. resolutions adopted at
Hampton with great unanimity. I hey speak in no am
biguous or undecided terms, what we believe to be the
views of the great mass of our democratic fellow citi
zens ; views which, however they may be temporarily
mystified, will be sustained by the substantial good
sense of the country, and as surely prevail as the prin
ciples, interests nnd feelings of the people will always
predominate. They adhere to the credit system, while
they do not object to all needful reformation. They
adhere to the safety fund system of this State, until
human ingenuity shall devise a better. I hey repudiate
and condemn the agrarian and radical doctrines of loco
foconin. against which the democrats of Oneida have
set their faces as a flint. 'I here will be no flinching;, no
hesitation, no compromise in this matter. Here old
Oneida is as firm as a rock ; and come what ma>', she
is determined that loco-focoism, in all its moods and
numbers, shall meet with a decided und successful op
position. It cannot abide on the same ground, nor
occupy the same platform, with sense and reason ; and
it is filled, past a doubt, to utter extinction.
EXTRACTS FROM THE PROCEEMNGS.
Kftohnl, That the reasons which operated with the
people to destroy the United Slates Hank are not appli
cable to State Hanks; and that the present effort of
some of the whigs todestrov State Hanks, is only a
part of the plin bv which they wish to force on the
country a new I'nited Stales Hank.
i Rrioirril, That u'f'at as arc the pecuniary nuffertnt'i
1 of thed iv, no evil can befall the country so great as
i whig misrule, dive.-tcd ?s the wIul's have been for years
I of all fixed principles, and governed by no rule but op
position to those whom they stigmatize as the democra
| cy of numbers, nnd whom they would deprive even of
the privilege of voting.
licsolctil. That we do not admit that tho pecuniary
embarrassments of the country proceed from any mis
conduct of the government; but, even should some .if
onr political friends have permitted their zeal for an im
provement of the currency to carry them beyond the
safe inc iliuin between specie and paper, which we be
lieve best conduces t?? prosperity, yet we are acquainted
with no relief so efficient as electing representatives
whose erecd consists in obeying the will of their eon
stituents, and especially in not electing wings whose
creed reje.ws all instructions from constituents, and
deems a representative at liberty #to act on his own in
dividual preferences.
Rrtnlrcd, That the banking system of the State of
Ne w York, approved and commended ie* it has been by
President Van IJurcn and many oilier unflinching de
mocrat*, in more sound, convenient, and sale, than any
other that has as yet been adopted, in this state ;?and.
one which in the opinion of this convention should be
preserved and sustained, at least till a better one can be
substituted in its place. ...
Rrsolrcd, That no |>ortioii of the republicans of this
county or state we trust entertain any feeling in common
with the distinctive views of that faction, originating <?
the city of New York,-known as the Ia?co tocos, ami
of which we have a small number in this county ; that
we regard their doctrines and principles as utterly ab
horrent to all principles of republicanism, of morality, I
and of the good order df society, ami at war with the |
safety of our civil and religious institutions ; and that i
any attempt by any party to court their favor or support
for any purpose whatever, we are satisfied would and I
should produce defeat c.nd disgrace.
The times in which we live are revolutionary in their
chara'cter and tendencies. A spirit of ruthless innova
tion, regardless of the lessons of experience, reckless
of consequences to all that is useful, venerable or ba- j
cred, seeina to be pervading the land. Not indeed to a j
?great extent among the intelligent and respectable ; for i
we yet believe that there is a Providence ruling the j
destiny of this mighty nation, that will not permit its ;
Sun to go down ill darkness. Demagogues have arisen, j
who from their edutation and intelligence are able to in- |
flueuce the more ignorant, to the support und counte
nance of the most ruinous pr.n-:ples.
? ????????
The idea of transaction the three hundred and sixty
live millions of busines* of this country in specie, is pre
posterous. The idea loo, of reducing the cutrency of the
country from3t>5 million* to SO millions (the full amount
of our specie, notw ithstanding ihe endeavors for the last
few years to increase it,) is too ruinous and destructive
to be for a moment indulged. The suggestion of strik
ing out of existence three .fourths of all our circulating j
medium, and thereby depreciating our prope rty to the
extent of three-fourths, and at the same time leaving t
upon us the full amount of our debts, is not for a mo
ment to be tolerated, ll could not be, that the circu
lation should be destroyed, and property not be de- ,
stroyed wU.h it. If indeed no debts are to be paid pr
had been incurred under a different and previous state
of things, so great harm would not ensue. Uut im
mense debts have been contracted, and by legislation, to
alter so far the extent of the currency under which they
had been contracted, would lie gross injustice. The i
individual making a purchase a year since of 81,000, i
paying down three-fourths of the money, and being re- j
sponsible for the residue, would lose the three-fourths
he had paid, the interest on the remaining fourth, and
have a property worth simply the amount of that one
fourth. ,In othei words, property purchased a year
since at its fair value would now be *?urth just one- 1
fourth of that amount, while nil debts must t>? ^>aui at
the sums contracted. This plain and inevitable result j
is so unjust and ruinous in lis tendency, that we can by J
no means approve of it. Neither are we inclined to
welcome the proscription of the other branch of our op
ponents, to wit, the establishment of a National Ilunk.
Already have we lived too long under an institution,
the first moment of whose existence, and every hour of
whose subsequent existence, was a violation of our con
stitution, whose mighty arms extending from the centre
to the remotest [tarts of our country ; withered in their
embrace the business, the interest and virtue of the i
land. An institution whose influence, nothing less ?
powerful than a nation's energy could counteract, ami !
whose operations were above and beyond the control of,
and entirely irresponsible to the people of the States ?
From such an institution we have but just relieved our
selves, and the memory of its injuries is still too fresh
in our minds to allow a thought of its re-creation. I" or
years the whole power of the democracy of this nation i
was engaged in a relentless contest with the LI. States
Hank, and having at length conquered it, though our
selves almost overwhelmed in its dying struggles, we
should be. madmen now to consent to Us re-charter ?
W'e give it our hearty condemnation under whatever
guise or form it may present itself.
The same attempts that were made in 1831 to over
throw the banking system of this state, commencing in
the United States Senate and goiyg to and returning
from the farther |>o;iits of the country, have been re
newed in 1837. The Uanks have been charged with
crimes the most heinous, and offences the most incon
sistent. They arc charged with being insolvent and
compelled to suspend payment, and at the same time
charged with suspending wilfully and corruptly, for the
purpose of selling their specie and buying up their own
notes at a discount. What may be the state of things
elsewhere, we are not able so well to declare, but that
any man should charge the 13auks in this state with
suspending from choice, or buying their own notes or
selling their specie for profits, is an idea loo preposter
ous to be seriously controverted.
We deem the banking system of this slate as now
existing and in operation, better than any other with
which we arc acquainted ; the actual payment of oil the
capital of the institution, the Supervision of the Com- L
missioncrs and of the public, over all their concerns, the
limitation of their discounts and issues, and the com
plete security to the bill holders for the ultimate pay
ment of their demands by the Dank Fund, presents a
mass of securities to the public, to be found in no other '
system. Since the operation of the system, there have j
been no failures among the banks, while be fore they |
were frequent and ruinous. As furnishing a safe, con- I
venient ami valuable medium of circulation, we appiove j
of it, and are not willing that it should be sacrificed to j
tho spirit of destruction, now raging among some por
tion of our fellow citizens, a spirit prompted and urged 1
on, we believe, more for the promotion of individual in
terest and private gain, than from any desire to advance
the good of the country Could tins system be pre
served in all its essential features of security, and its
character of monopoly taken away, it would in our opi
nion, be still more desirable. If the business of banking
can legally be carried on by individuals, under such re
straints us shall-entirely secure the creditors of such
bankers, then clearly the business should be open to all
who desire to engage in il It is contrary to the genius
of our country that restrictions should he imposed,
which are n"t necessary fot the public good, or that any
business should be taken away from the community at
large which they may with propriety carry on. Could
a general banking law therefore be devised, which would
be free from constitutional objections, and under which
strong securities and guards for the public should he re
quired, it would meet our approbation.
Having thus, fellow citizens, briefly touched upon
some of the prominent topics before us, the questions
involved are submitted to your decision. With you
it rests whether the unity, harmony, and organization of
the Republican party shall be preserved, or whether
thoac shall bo ftustamrri who m ? k it* overt hrow, am!
their own selfish purposes of aggrandizement. With
you it remains to decide whether the voice of tins great
country shall be in favor of ord.r and the institutions of
the country, or whether you desire revolution and an
archy. For vou it is in part, to detertnu.o whether a
National Hanking institution sliall again place Us foot
upon our necks and again rear Us head in contest with
the government and the people of this land, or whether
we sliall runam with institution* created by ourselves,
under tTnr own control, and whose charters are amena
ble or repealablo by us at pleasure. Confident that
your decision will be such as yourselves and all eood
men will, lijion calm reflection, approve, it is submitted
to your determination.
The republican doctrine is to preserve w ith good faith
the institutions that have grown up nndir the Slate
laws, and that ate intimately connected with the busi
ness of our citizens in all their vuriotif ramifications?
and to this doctrine we shall strenuously adhere. " I y -
siir* ami regulate, bill not destroy "?Hartford (( I.)
I'aii mt.
A few political families of the ( olihett calibre, are
willing and ready to It t down the flood-gates of anarchy
and misrule to carry with them the banking institutions,
and all independent citizen- who are not lit their way of
thinking or acting, but they will lad m their means.
There is a conservative spirit in the democratic ranks,
that will check tins heretofore growing evil, and the
quicker it is manifested the better it will be for tin
cause and the country. The crv of "thus far shall thou
go, and no farther,"' has already resounded from tin
(femoeratic [>osts, and its happy eflects are already bt ing
experienced?Troy(A. Y.) iludgcl.
With buch politicians the republican party can have
no connection ;?they strike at the laliors of the party
would annihilate the fruits of its industry, spurn ihe
wisdom of its sages, and seizing Upon the phras. ology
of the constitution, endeavor to pi rvcrt that r.oble in
strument from its legitimate purposes, and interpose it
as a screen to conceal their assa.ills upon the mstitu
tions of .he country 1! 'rpn.g "1""' a ?I"'','0 c,irf,'ncv
they would have the public believe that audi a currency
i* possible, mwl that loo in defiance of the well known
fact that the mine* of gold and silve^faknot furnish the
necessary medium of exchanges, aa aocillv u now con
stituted. It follows, that, either thi v^? of thi??
would-be reformer* are exycinely Utopian, or society
must he ro-modeled in such manner, u* to inert the
exigencies of the case It requires no argument* to
prove the fallacy of auch rea?ouing ; a moment'* re
flection will convincc any one tlut with but sixty mil
bins of the circulating medium among some fifteen
millions of inhabitant*, but very little l>u*me*a can Iw
transacted.? Waltttuitn (N. Y ) Eagle and Standard.
Public opinion comca in upon us no thick and fast,
that our columns cannot contain it. Ko far a* we have
space, we continue our extract* from the republican
journals, which arc. now exhibiting a healthy action, liiat
cannot fail to be productive of the bejst result*. Let
thi ir progress be onward, and we shall sejpn see the
work of reform marching in rapid strides throughout the
republic, leaving in its train no traces of the radical
spirit which has heretofore been permitted lo disgrace
our councils?1'ouglikccptic (N. V.) Journal.
It is an easy thing to establish a banking system ; but
it is not very easy to get rid of it after it has been soino
years in operation. .The sudden abolition of it would
produce uii entire destruction if private credit, a uni
versal pressure for the payment of debts, and a general
disability to comply w ith engagements Business of
Hourly every kind would be suependi'd, and the lalmring
part of the community would l>c deprived of employ
ment.?(Juuge't Halum of Hanking.
A Skin.?The Utica Observer says : "New York
Safety Fund liills are selling m the western States at a
premium of 5 to 7 "per cent. Emigrants to the west
will do well to carry the safety fund notes with them,
instead of exchanging Ihein for western money. Specie
has been offered for theiu in several instances." The
fact tlut our safety fund bills are w orth from 5 to 7 per
cent, more than any other pajicr money in the Union,
and that at this tnnc, thev are equal in value to specie,
speaks well for the system and tlie statesman-like saga
city of its author, Mr. Van Buren ; and is calculated to
make the |ieople of this State satisfied with it, at least
in preference to an innumerable number of lianking in
stitutious under a general law, the effect of which is
rather too extensively illustrated in different parts of the
State bv the iHsues of private bankers in the shape of
shut plattert. " Preserve and regulate," refurm and
sustain, say we.?Oswego I'alladiuni.
There is evidently a disposition in the democratic
party to sustain the integrity of the country at all ha
zards, and give the institutions am] systems that havo
carried us prosperously onward, u liberal support. ? Troy
Budget.
CREDIT.
CBKniT?is the confidence which men put in each
other. It is based upon the intelligence, the honesty,
the capital, and the favorable circumstances which be
long tu the party in whom confidence is reposed. An
ignorant people, a poor people, or a dishonest people,
can never have much credit with each other, or abroad.
An intelligent, virtuous, and prosperous people, will
have confidence in each other, and inspire confidence
8*?*iud If goods are delivered upon a promise to pav
in six niuiiths, the seller believes the buyer will be ablo
and disposed to pay according to the contract; and that
the credit of the buyer thus pledged, is better to him
than the goods. If good* arc delivered u|k>ii the con
dition ihut when taken to the biiyur's store and examin
ed, the money shall be immediately sent back in pay
ment, the delivery is made on credit still, and in the be
lief of the same things which induce the credit of siir
months. If the buyer is permitted to take the goods
into his hands before he pays the money, the transac
tion is still on credit, and upon the same basis as in the
other cases staled. There are some individuals whoso
characters are so bad, that even thi* last pittance of
?credit would not be granted them.
In a virtuous, intelligent, and pros|?erous community,
credit performs all the principal offices of money.- It is
an adage that "trade is only an exchange of commodi
ties." W hen the exchanges arc made directly, the
trade is called " barter." In a very simple and small
community, almost ull transactions may bo in barter,
with the intervention of credit to a small extent only.
In fact, there are many neighborhoods in our country,
where almost no money is used. I he blacksmith shoes
all the horses, the shoemaker all the men and women,
ami even the doctor, and lawyer, and parson, perform
their several duties, und by means of credits recorded
in book accounts, the whole business of the year is
brought round and settled without money. After all
these exchanges arc made, however, a surplus remains ^
which goes to the merchant in payment for his goods,'
and perhaps brings u little inonev into the place. What
is done thus on a small scale, is only the miniature of ;i
nation's business. The result is precisely the same,
though'the number and importance of the agents em
ployed corresponds with the iin[>ortaiice of the business.
The surplus products of every citizen's industry are dis
|H>sed of, and the proceeds are returned m other articles
which his wants demand. Just so many agents and
means of facilitating business will be employed as will
perform the whole in tlio cheapest and best manner, so
as to return lo every man the largest possible amount
ol comfort and enjoyment. By the use of credit, the
money of those who have money to spare, is employed
to furnish those who are deficient in capita!, with the
means of cultivating the earth and carrying on h!I their
occupations. The merchant buys iron on a credit, and
sells it to the blacksmith on a credit, and he makes
ploughshares ami chains on a credit, by means of which
crops are raised, which are handed over to the merchant,
and which he carries to the larger market. Thus the
products of industry arc carried back upon the line of
credit, and the whole line of indebtedness is cancelled.
In all this, there is i>?? money, and obviously no need of
anv. Credit has performed all that inonev could do But
if there were no credit, where would be the farmer, the
product of whose toil was the result of all this credit,
as it was the menus of cancelling it all He could not^
have cultivated Ins ground, but must have hired himself
out to some farmer who had wealth, or at best have be
come' his tenant. It is obvious that the destruction of
' credit would withe r the business we have described, and
plac? every thing in the hands of capitalists. 1 In re
could be no merchants, no blacksmiths, no farmers, but
those who had already sufficient capital to carry on their
business by the use of ready money ; and where would
this rule have left nine-tenths of the men who now cul
tivate the ground and transact the business of the coun
try ! They could have been only clerks and laborers
under the control of the lords of money. Yet in this
land, where the people are praised for the ir intelligence,
they who have little or no money, are called upon to
join in the destruction of the only resource which is left
them, save their naked hands. 'I his, too, in the face of
the fact, that almost ull the individual wealth among us
has beert accumulated by the use of credit. \V orst of
all, they are urged to do this as a measure which will
deprive the rich of their overgrown power, when tlio
certain consequcnco' would be, lo deprive industry ol
all its power to compete with wealth, and put every
thin;? in the of the rich. I o destroy anv of the
facilities by which credit is brought into its most perfect
action, is to do so much to make the many subservient
lo the few. This we may take occasion to illustrate
another time.?A* 1 , Journal of Oomniefcc.
We have just liecn reading the correspondence be
tween Mr I/'igh and some of his Virginia whig friends
m 18.11 In his letter dated Sept. 22, we find the fol
lowingdeclaration : , , ? . ,
?? In my e lion the framers of the Constitution bad
no thought of any bank agency whatever, State or fed
eral, eithe r for facilitating the operations of the 1 reasurv
or for regulating the currency ; and that to administer
the <;orrrnmtnt on the true spirit of the ( ovshtutwn
mid are or ding to the intention of its founders the I rc<m
i,ryouAht to he PlVOKCED/rW* "U ronncet.o,i Villi
Hanks, State or Federal."
We leave this without comment.
[hall Hirer (Mm.) Patnut.
BANKS IN MAINE
The Eastern Argus publishes an abstract from the re
turns of the several incorporated Banks in Mamr, as
they existed on the first Saturday of this month
RKt'Al'ITC l.ATIOX.
Nett profit* "on hand, iflilO Mft
Balances due to other Banks, 21,,?I ?
Cash dejiosited, Ac not bearing interest, t./J."-" ^ '
Cash deposited, bearing interest, * '
Total amount due from the Banks, tf',664,.KIfl M
Gold. Silver, Ac. in Banks, *niCo'11
Heal Estate, Hl'vi't HO
Bill* of Banks in this State, (((|
Bills of Banks e!?r-JwS20>7 !?>
ltae'ioThVBsX" excepting Balances, 6.685,783^7
Total ain't of tltc re sources of tin; Banks, ?6,664,300 36

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