The Madisonian. [volume], September 26, 1837, Image 5

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introduced by Mr Rivet, showing hi* objections to H,
but declaring that between thai and the Sub-Treasury
scheme, ha should vote fur (bat of Mr- Rives He
would also vom hi favor of the utolMMi ol Mr King to
|xi?4,K)iie ihe IhJI under cwmdaMiMM, aiihouuh he
would prefer thai il bed been ? fUton far indefinite
postponement He hojied Congveae would go home and
fonsull their masters, and coin# back msirucied aa lo
their course.
Mr DENTON railed for the you and nay* on the
oueeUon to poaipoue the bdl till the tirat Monday in
December.
The (jueetion was then taken en the motion to poat
pone, and decided in the eegalrre ae follows : ?
YEA-"?Messrs. Bayard, Black, Clay, of Ky , Clay
ton, Crittenden, Kent, King, of Oa., Knight, M'Kean,
Nicholas. Prentiaa, Robbine, Ruggles, Smith, of Ind ,
Spence, Tipton, Webeter, White, Williams?19.
NAYS?Meaara. A lieu, Benton, Brown, Buchanan,
Calhoun, Clay, of Ale , Fulton, Grundy, Hubbeid,
King, of Ale., Linn, Lyon, Morris, Nilea, Norvell,
Pierce, Preeton, Kivee, Roane, Rohinaon, Smith, of
Conn , Strange, Tallinadge, Walker, Wall, Wright,
Young??5F7.
The hill waa then informally paaaed over.
On motion of Mr. WRIGHT, the Senate considered
A bill to remit duliea on certain merchaudiae, de
stroyed by the recent fire in New York.
A hill making additional appropriation for carrying
on the war in Florida, which were ordered to ? third
reading.
The Senate, on motion of Mr. GRUNDY, proceeded
to the conaideration of Executive business ; after which,
The Senate adjourned.
, HOUSE OF REPRESENTATIVES.
Mommy, Sept li.
After the preeentation of memonala on the subject of
the currency end the annexation of Texas.
Mr Buchanan, from the committee on electione, re
ported upon the aubject of the Miasiaaippi election. The
report ia very long, and ila concluaiou la that Meaara.
Gliolaua and Claiborne are menibera for the whole term
of the 26th Congreaa or not members at all, and that the
restriction by the governor of their term to the extra
aetaion waa illegal; and, therefore, that the election be
ing in other reepecte, regular, Meaare. G ho I son and
Claiborne, are entitled to tbetr aeata in thia Houae, aa
meinberv of the 36th Congress
Mr. Maury, on behalf of the minority of the commit
tee, atated tliat they ahould, when thu aubject came up,
oder a counter resolution aa au amendment to the re
port of the majority. The coinini'tee were divided four
to five. The report waa, after aoine convereetion, poet
poned for the preaent.
Mr. Hakxison moved a call of the House, it being
very thin, and the call waa ordered, and proceeded on
till a quorum waa obtained.
national BANK.
Mr. Cambrklbno, from the committee on ways and
means, reported the following resolution .
"Resulted, That it is inextiedient to charter a national
batik."
Mr. C. said, He did not offer thia resolution for dis
cussion, but for decision. The unanimity of the report
showed, he said, that a dark cloud hong over the pros
pects of the friends of a national bank.
He asked the yeas and naya upon it.
Mr. Evcxbtt, aaid no opponent of the administration,
and uo friend to a national bank, would, think it expe
dient to propoae a national bank until we abould have
a Congreaa fiee-Minb of which ahould be lu favor of
audi an institution.
Mr. Mkbckk moved to lay the resolution on the ta
ble,?Lost, yeaa 89, naya 123.
On motiou of Mr.- Cambkclkxo, the Houae took up
the order of the day.
POST PON CMS NT OP DIPOSITXS.
The House resolved itself into committee of the
whole on the state of the Union, (Mr. Haynbs in the
chair,) and resu;ned the consideration of the bill for the
postponement of tlie 4th inatalineut.
Mr. GARLAND, of Va., rose and addieaaed the
committee upon the aubject of the condition and pros
|>et ts of the country, and the mode of obtaining relief
Iroin the present embarrassments?directing his re
marks particularly against the Sub-Treasury scheme,
and contraating it with the project he had recently
brought to the notice of the House. In the course of
his exordium, he stated that the scheme which was pre
aented to ua by the President of the United States was i
introduced here l.y his immediate predecessor, (Mr.
Gordon,) and it was almost universally repudiated by his
constituents, and by the Republican party in thia House.
He was opposed to that measure ; and he was also one
of those who had voted for Mr. Allen as printer?a vote
of which he had no occasion to repent. For these rea
sons, he bed been dignified by eome of the newspapers,
as the head of a party?a station to which he did not
aspire, and which he had never dreamed of holding. He
had never changed his position ; and he held the same
viewa now, that he did when he first took his seat here.
If he waa one. of those who were to be " shot as de
sertera"?the question would be what he had deserted.
He stood fast on the spot where bis constituents origi
nally planted him, and others had deserted him.
Vve forbear giving a sketch of this very able and in
teresting speech, as we shall, in a few days, be able to
present it in full to our readers.
I Messrs. RARIDEN, WILLIAMS, of Tennessee,
and CUSHING followed, and Mr. C. was on the floor
when we went to press.
A well informed friend, recently from Washington
says : " The course of President Van Buren towards
his old and consistent friends who differ from him i n
relation to the expediency of the Sub-treasury system,
is that which might be expected from a knowledge of
his character. No alienation or eatrangeinent is observ
able in his sentiments to his dissenting political friends,
but every mark of cordiality and kindness that ever
characterized his intercourse with them, is still fully ex
hibited. In this dignified course he is, we regret to
say, not imitated by all his followers ; for certain syco
phantic pretenders lo exclusive democracy at Washing
ton, swelling with importance, are endeavoring to decry
those conservatives who act with the groat inaas of the
party and faithfully reflect their seutimenta.
'I o all our fitm friends who act with us, we say that
these self-constituted dictators have no countenance
from head quarters, but, fortunately for the prospects of
the party, are as powerless as malignant. The whole
democracy of nuinhera are abjuring the loco-foco doc
truiea, and those who expect to retain the confidenc e
ol the people and the people's President, must, if the y
persist in error, at least treat those who go with the peo
ple with courtesy and respect. " The signs of the
times" arc portentious, and cannot be mistaken, and we
advise the radical friends in our ranks to no longer
bring the good cause into disrepute by their ill-judged
zeal without knowledge.?N. Y. Times.
VV x commence to-day the President'a Message. It
will doubtless attract general attention. It is a per
spicuous, bold, and powerful document. Of its doc
trines we shall say little, as they will speak for them
selves. We will, however, say that the public liberty
of the country ia not to be endangered, during this ad
ministration, bv being placed in the reach of the talons
ol a National Bank, i'be President is against auch an
'nation, ill every form, o* constitutional grounds.
hatover our friends may think in regard to the collec
tion, Mfekeeping, and disbursement of the revenue, we
are, nevertheless, atire that all will say the message is
eminently creditable to its distinguished author on ac
count of the elegance of its style, and its republican,
patriotic, and independent spirit. Our differences, if
any should exist, in regard lo the employment of State
l>anks, or sub-treasuries, will arise upon a mere point of
expediency. Collision and discussion, among friends,
arc but the trial of reasons and conclusions. United in
principle we never can be permanently separated, or
estranged from one another, by shades of mere expe
diency, whilst wo have to guard against the insidious
assaults of a party seeking to infuse into the meaaures
ol the Government, the odious principlesof Hamilton.?
narrenton Jcjersoman.
GOLD COINS.
^mher ,9? IW.-Mr. Bxnton sub
mitted the following statements, showing the coins?
and import, and export, of specie during the year
1887, which were ordered to lie printed
Gold cotnage at the Mint of the United States ,n 1837
January None,
?bruary #36,500
Msrrh 108,380
Apnl 181,000 .
268,000
?ju"e 46,250
J"'7 * ? - - ? 104,490
August - i - . . . iio,805
ft $853,825
Statement of imports and exports of specie since 30/A
September, 18)6, as per returns reeetred at the
Treasury Department to the 19/A September 1837
inclusive.
Jin ports .... *10,288,876 .
Exports - - . . 6,164,882
,r ? McCutrrocic Yorxo.
treasury Department, Sept. 19, 1837.
THE MADISONIAN
"WASHINGTON CITY.
TUESDAY, SEPTEMBER it, 1827.
OFFICE I SIBEBT, BETWHEH NINTH AMD TENTH.
In thmi tmi nu? which abh essential, lit thbbb
BB UNITY IN NON-BS?BNTIALS, LIBBBTT, AND IN ALL
THINUS CHABITT*? Augusttn.
THE DIVORCE OF BANK AND STATE, AND
THE EMPLOYMENT OF PERSONAL
AGENTS.
"In thb bboulatiMb which Conobbm hat PRE
SCRIBE RESPECTING THB CU8TODY or THB PUBLIC HO
NBY, IT IB DESIBABLB THAT U LITTLB DI8CBETI0N AS
HAT BB IMCBH90 C0N8I8TBHT WITH THBIB BAFB EBRP
INO, SHOULD BB OIVBN TO EXECUTIVE AGENTS No
one can bo more deeply impressed than I Bin with the
soundness of the doctrine, which reatrsins and limits,
by ?|>o< ific provisions, Estcultee ditcrelion, aa far aa it
can be done consistently with the preaenalion of ita
constitutional chUMM*. In rttpccl lotke control over
Ike publ tc money, ikitdaclrtne is peculiarly applicable
?Geo. Jackaon'a Message, Due. 1835.
" Individual agents will probably be found LBaa bb
SPONMBLB, aAPB, CONVENIENT, ANDECONOMICAL," ('*??
bank* ]?Mr. Woodbury'a Reoort, Drc. 1834.
"TifB proposition (the " Divorce'") la disoboanii
1NU AND BBVOLVTIONABT, SUMVBB8IVB Of THB FUNDA
HBNTAL FBINCIPLB8 OB OOB OOVBBNHBNT, AND OB 1TB
BNT1BB PBACTKE, FBOH 1789 DOWN TOTHIB DAT."
" It it at palpable at Ike tun, tkat Ike if eel of Ike
tckeme would be la bring Ike public Mature MUCH
NEARER Ike actual' eutlody and control of Ikt Fre
tidtni,' ikan it it now, and expoce it to bb plundebeu
bt a hundbed handb, wkere one cannot now reach it."
?Globe, Nov. 30, 1834
" Had buch a BoaflEarioN cohb fboh Gbn. Jace
aoN, tl would karc been rung through Ike Old Dominion
with the reiterated falsehooda about the proclamation
and the proteat, aa coucluaive proof of all the aapira
tiona which have been charged to the Hero of Orleana!
** Skb, (they would aay,) hbbb hb wishes to pct thb
PUBLIC HONBY OIBBCTLY INTO THB PALMS Or Hia
PBIKNDa AND FABTIXAN8, INBTEAD Or BBBPINO IT ON
DEPOSITE IN DANES, WHENCE IT CANNOT BB DBAWM FOB
OTHBB THAN FUHLIC PURPOSES, WITUOUT CEtTAIN DE
tbction." Ill such a caae, we ahould feel that the peo
ple had just cauae for alabh, and ought to give Iktir
ntoti watchful attention to tuck an effort to bnlabgb
EXBCUTITB POWEB, AND PUT IN ITB HANDS THB HEAN8
or cobbuption. And art these the principlea upon
which Mr. Leigh expects to return to the Senate from
Ike land of Jtfferton !"
" Mr. Leigh knowa that the Pbe?ident himself ta
oppoaBD TO THE pbojbct which kt atcrtbtt to kit tup
porter t, and tkat kit fritndt in Watkington, wketker of
Ike Cabinet or n<v, heartily concur with kim in Ike
courtt of policy it it expedient to purtue."?Globe.
??The country will sustain the Executive arm of the
government in the experiment now making to substitute
the State lntiiiulmnt for the Bank of the Uuited
States."?Mr. Wright, Jan. 1834.
" The State Banka are found fully adequate to the
performance of all services which were required by the
Bank of the United Sutea, Quite aa promptly and with
the tame rhcapnrtt."?Gen. Jackson's Meaaage of 1834
" By the use of the Slate Bankt, which do not du
rive their chartera from the general government, and are
not controlled by ita authority, it it atcerlatned tkat the
moneys of the United Slatet can be collected and du
burtcd without lott or inconvenience, and that all the
wants of the community, in relation to exchange and
currency, are aupplied aa well as they ever have been
before."?Message of Dec. 1835.
" It should be constantly recollected that the owners
and managers of banka, when properly regulated by
legislative provisions in their charters, are, like other in
dividual, uncreated to transact business securely ; are
desirous of making and not losing money ; and that
these circumstancea, wilh the prefertneo in case of
failure belonging to depositors and holders of their ball*
over the atockholders, united with the security. if not
priority, given to the government, render them, in point
of safety, generally huch bcpebiob to .individual
ag k n't a or tiie United States."?Mr. Woodbury'a
Report, 1834.
" It is gratifying to reflect, that the credit given by
the government, whether to bank paper or bank agents,
has !>ecn accompanied by smaller losses in the experi
ence under the system of state banks in this country at
their wortt period, and under their teverctl calamiliet,
than any other kind of credit the government haa ever
given in relation to ita pecuniary transactions."?rib.
In the same report, it ia stated, that the loss by one
merchant had been greater in amount than all that had
been lost by the banka.
It is proven in Mr. Crawford's Report, that the losses
to the government by the employment of corporations
as fiscal agents, have been but 45-100tha of one per
cent, in collecting three hundred and fifty millions of
general revenue.
" Banks cannot be dispensed with, except at
THE SACBIPICE OP ALL JUSTICE IN BEQARD TO THE CON
TRACTS MADE UNDER A NIXRD CUBBENCV, NOR WITHOUT
A VIOLATION OP THE FAITH PLEDGED IN THE LEGISLA
TION (WHERE HONESTLY OBTAINED) BY WHICH THEY
WERE ESTABLISHED. THE SUBJECT HUST BB LEFT TO
GBADUAL REFORM, TO WHICH THB PEOPLE OP THB RE
SPECTIVE STATES ABB FULLY ADEQUATE."?Globe.
" The depositee of the public money will enable you
to afford increased facilities to commerce and extend
your accomodationa to individuals. And as the du
ties WHICH ABE PAYABLE TO THE GoTEBNHENT ARISE
FROM THE BUalNESB AND ENTEBPBISE OP THE MEB
CHANTS ENGAGED IN FOBEION TBADE, IT 18 BUT SEA
SONABLE that tubt should be pebfebbed in the ad
ditional accommodation, which the public depoaites will
enable youT institution to give ; wherever it can without
injustice to the claims of other classes of the commu
nity.
Mr. Taney't letter to the Girard Bank, Sept. 26,
1833.
The poor ghost of the defunct Bank of the
United States, again disturbs the visions of
the Globe, and,
" Walks unrevenged amongst us."
Nurses sometimes subdue the murmurings
of children, by alarming their imaginations
with bugaboos ; when a senator presumes to
assume the attitude of an independent legis
lator, the fancies of his colleagues and com
patriots are directed to the tomb-stone of the
Bank of the United States. We had been
taught that Congress was a co-ordinate, inde
pendent, branch of the government; but it
seems an independent opinion cannot be ex
pressed therein, without producing a bank
resurrection, and a threat of ostracism. Un
less one abuses the memory of the Bank, in
every paragraph, he is harboring the enemy ;
and if ho contravenes the verba magistri, he
is an heretic.
Mr. Rivks, believing that nothing had been
presented to the consideration of the Senate,
calculated to meet those expectations which
must have been excited in the minds of the
people by the convocation of Congress, offered
a bill having at least a tendency of that sort,
and which he very reasonably hoped might
have been favorably received, from the fact,
that it passed both Houses of Congress at the
last session, by a vote sufficient to make it a
law, even if the President had withheld from
it his constitutional sanction. It is believed
that nine tenths of the American people ap
proved the bill. It is again presented, with
a modification, which is intended to address
itself to the true interests of the Banks, and is
calculated more than any other measure to
effect a restoration of confidence, and that
great and universal desideratum, a resump
tion of specie payment.
Is there the slightest tendency to relief in
the counter proposition, which proposes to
grasp all the specie in the country and lock
it up in the vaulls of the Sub-treasuries ? On
the contrary, it ia a withdrawal of confidence,
a withdrawal of specie, and calculated to ef
fect greater calamities than already afflict us.
It is calculated to postpone forever, the re
aumption of apecie payment by the banks,
and therefore involve those institutions im de
struction. Is it fair for the administration to
pursue such a policy towards those institu
tions ? By whose policy is it claimed, that
thirty millions of specie were introduced into
this country during the last four years ? Did
not every dollar of that form the besia of is
sues of from three to five of paper, to one of
specie ? Were nut the banks that issued them
created for the most part by legislatures of
states, friendly to the administration T Is it
fair then, for the administration suddenly to
abandon to summary destruction, institutions
created by a policy which it is pledged to
carry out ? The Sub-treasury scheme in ef
fect, aims to abstract the apecie from those in
stitutions, and to debase and discredit the notes
they had issued upon its basis.
Mr. Rives' bill proposes to receive the
notes of banks which shall resume payment
in specie by a given dsy in discharge of the
public dues. The notes of those banks which
shall not resume by that day, shall be exclud
ed.
The objection urged agaiust the bill was,
that it would operate as a compact, by which
the government would be compelled to give
preference to those which should be able to
resume by the day stated?that the strongest
banks would be favored, and the weaker
crushed by it. There is no force in the ob
jection, because every bank in the country
worth preserving would be able to resume
Bpecie payments, by almost any given day in
1838. In this belief we are supported by
the Corresponding Committee of the New
York banks. The New York papers state
that several banks in that city are ready to
resume at this moment. The better opinion is
that the resumption of specie payment will
be effected by a concerted and simultaneous
movement throughout the country. The bill
addresses itself to the whole bauking inte
rests of the country, and we believe that an
early resumption of specie payment would
be the consequence of its becoming a law.
" The issue sttained in the debate," there
fore, is a fictitious issue, and was the result
of a digression from the main direction of the
discussion, to drag in by the "head and
shoulders'1 the Pennsylvania Bank of the
United States, for the purpose of frightening
Senators with a bug-bear. That bank lias no
more to do with the issue than any other state
bank ; it is not a party in the bill; it did not
enter the mind of its author, and would be no
more likely to profit by the passage of the
bill, than any other State bank. It has no
more power by reason of its relation to
England, its extended issues, and various
investments, to control other banks, than the
banks of Boston and New York possess to con
trol it. It might be inferred from the answer
of the Philadelphia banks to the proposition
for a convention, that they were either des
ponding, or less prepared to resume specie
payments than most other banks in the coun
try. The Deposite Bonks of Georgia, we
believe, have never stopped specie payment,
and there are many banks in various parts of
the country, that hail stopped and have re
sumed. We can view the issue, therefore,
thus attempted to be made between " Mr.
Biddle and the Government" as entirely ficti
tious, disconnected from the subject, and in
volving an insinuation in regard to " Mr.
Biddle's bank" as it is called, destitute of any
foundation in truth.
Mr. Calhoun condemned the bill, as an
attempt, on the part of Mr. Biddle, to recap
ture the Depositee. That honorable Senator,
in 1815, was one of the warmest advocates of
the,United States Bank. In 1834 he brought
forward a bill to recharter that institution, and
most zealously engaged his energies to restore
to its vaults the government deposites. All
this time Mr. Rivrs was a firm and unflinch
ing opponent of that Bank, and justified the
removal of the Deposites, because he believed
it io have acted faithlessly. Now, Mr. Cai.
houn seems to occupy a different ground, and
from his lofty position charges Mr. Rives
with aiding and abetting Mr. Biddle in an
effort to recapture the Deposites! And the
Globe quotes its hitherto bitter opponent, to
sustain the unjust insinuation against one of
the friends of the administration !
If the Pennsylvania Bank was excluded
from the common benefits of the bill, wo have
no doubt, with the Globe, that the Opposition
would vote against it, but for a different rea
son ; such a discrimination would be uncalled
for, and ought to defeat the bill. The whole
argument about this Bank is ad captandnm.
The selection of bank depositories is left to
the discretion of the Secretary of the Trea
sury.
[The above is intended aa a commentary upon the
article from the Globe, beaded "The main isxue attain
ed in the diacuaaion," which, by inadvertence, ia placed
on the first page.]
It is but a short time since we were told
that nobody was in favor of an exclusive me
tallic currency, and such a scheme was de
clared by those to whom it was imputed, im
practicable and impossible. We were satis
fied. How is it now ? A mixed currency
which for fifty years has answered all the
purposes of government, and the business and
commerce of the country, is denounced as
absurd as the South Sea Bubble, and we are
again told that nothing should be tolerated in
the community in the shape of currency, but
gold and silver, or paper issued by the go
vernment itself. Instead of receiving and
paying back the notes of the people which
answer all their purposes, the servants of the
people, propose to supersede the popular cur
rency, and issue promissory notes of their
own, and force their masters to take them.?
And why T For the alledged pnrpoa# ef re
ducing the currency to a motollic standard,
and forcing the people to pny their aervants
in gold and ailver or its equivalent. All thin
u Car the benefit of the government. Ia any
encouragement held out to the people to em
ulate this laudable project, in bringing l^*,r
currency to the specie standard ? Ia there
any prospect presented thai the currency ot
the people is ever to come up to the standard
of that of the government ? la there any in
ducement held out to the banks to resume
specie payments ? No. The government
exact the better currency for themselves, and
leave tho people to get along as well aa they
can with the baser currency. The Sub-trea
surers would seek to absorb all the specie in
the country, to be u salted down" and looked
up in their vaults, and the government would
send its promissory notes among the people
as an equivalent. Take things aa they have
existed. Seventy millions of specie in the
country, fifty required by the revenue offi
cers, and twenty-five necessary to the wants
of the government. Twenty millions of spe
cie and ten or twelve millions of Treasury
notes are to constitute ihe currency of fifteen
millions of people, trading, manufacturing and
agricultural. Fifty millions are to be " di
vorced" from the peOple, lest they should con
taminate and corrupt themselves by ita ?luv,
gerous use, twenty-five to be shared among
the servants of the people, and the residue to
be buried without interest, lost to the uses
and profits of the country, until Congress shall
direct the disposition of the idle and corrupt
ing mass, unless perchance Sub-treasury de
faulters, or thieves, should have beforehand
ran away with the whole.
Already have Mr. Ri*?a of tho Senate, and Mr. Gas
land of ihe House, from Virginia, abandoned the mten
tion of requiring the Government to receive the note,
of non-?pecie paying banka for public due* ?Globe of
tht SI if.
Messrs. Rivks and Garland have never
entertained "the intention of requiring the
Government to receive the notes of the non
specie paying banks for public dues," and
therefore have not " abandoned" it. They
have not abandoned it; they will abandon
nothing, either of expediency or principle,
essential to the great interests of the country.
They occupy the ground, upon which they
have always stood?that occupied by the ad
ministration of General Jackson and they
have abandoned no position, no policy, no
principle.
MR. KING,
Of Georgia, addressed the Senate on Sa
turday, about three hours, in opposition to the
Sub-Treasury scheme, and the collecting and
disbursing the public funds in gold and silver.
Although there may be differences of opinion
in regard to some of the topics of his dis
course, yet we listened to it with great interest,
and felt highly instructed by his views upon
the subject of exchanges particularly. Upon
the subject of the currency generally, he was
clear, sensible, and practical?and his effort
is unsurpassed in ability or effect.
Mr. Garland, of Virginia, addressed the
House yeiterday three hours, in Biipport of
the proposition heretofore submitted by him,
and again* the Sub-Treasury scheme. We
had not tie pleasure of hearing it, but under
stand it was marked with the usual clearness
and ability of that gentleman. The speech
will be published in our next paper, and also
issued in j>amphlets.
TREASURY NOTES,
By admitting the article of Publics, on
this subject, to our columns, we do not wish
to .be understood as indorsing his opinions,
especially the one denying the constitution
ality of Treasury notes. If they are not
eonslitutiotaU they have been so long habitual,
that habit fcas become a second nature which
we hold amounts to constitutionality. For
our part, ve should bo in favor of increasing
the amou.t named in the bill, believing that
. the measure will very much facilitate the re
sumption of spccie payment.
City or New York against Sub-Trea
suries.-A meeting in the city of New
York, called by jive hundred and ninety of the
leadiuc Republicans, headed by the honerable
Gideon Lee, was to have assembled last
evening at TAMMANY HALL. The follow
ing notice for this purpose appeared in the
New York Times of the 23d instant, to which
was appended the five hundred and ninety
names wo have alluded to :
"The DEMOCRATIC REPUBLICAN
ELECTORS of the city and county of New
York who disapprove of the Sub-1reasur\
systeCi are requested to meet at lammany
Hall, on Monday evening the 26th instant, a
6 o'clock, to take such measures as may be
deemed expedient at the present crisis ;
We wish we had space to introduce the
long list of signers to the call for this meeting,
that tho true friends of the Administration
abroad, might know how vast a proportion of
the staunchest friends of the President, in his
own native State, oppose the "Expedient
of the Sub-Treasury System.
PUBLIC CREDIT.
At a Ttry important source of strength and security,
chrsisii PCBUC c"D-A#M1NOTONtSep, ,7,1796.
Thr General Government, like an
"k
So?t ere urging the " untried the Alb*
nv (N. Y ) Democratic Republican General Committee
h,?e decided by a vote of 19 to 6. that it i. inexpedun,
to call a public mooting to auatain tho Sub-Treaaury
scheme.
PHRENOLOGY.
Neit to an acquaintance with the human heart, ia a
knowledge of the human head. But how far Phi*"**?
? is able to aid ua in thia inquiry, momt be left to the
unbiaood judgment, of those who ate experimented
Upoo. In a new acicnce, where ao much more must eb i
|,ft to faith, than to dwoonairauoti, wo aha 11 hardly I* |
aspacied I* give the mm far mu huh, Uwm
mucb jfcuk we aught have. In lha present case ew
?hall annply call the attention of oar mien to the ed
vertiacmeut of Mr Dahtlett, (on thia subject) in m
other column, and aecommaud them to auburn thern
eelvee 10 hia " mampelaliona." We ahall be duap
pointed if they ere (beappotirted.
^ THE PRAOUE COMPANY x/"
On 8aturday night we attended the firat inatrumental
Concert given by thia celebrated and scientific company
of foreign inueiciane, couaitiing of nine profeaeora of
ramie, We can truly aay that the execution and eflect
exceeded our moet aanguine expectation. The oniaan
of their performancea ia harmonious in the extreme, and
ia evidence of the perfection which they have attained by
their united eserlione. The execution of the briiliaat
variationa on the violin by Mr. I. Opel waa aurpriaing
and gratifying in the higheat degree ; nor waa the per
formance of Mr. Sobock, on the Clarionet, leaa ao. Ia
deed, the tout enatmblt waa highly effective, and evident
ly imparted great delight to a large and feahionable au
dience.
Among the HningutM preaent waa the Preaklent of
the United Statea, accompanied by the Secretary of
State. It waa ? truly gratifying acene to witnoaa the
Chief Magiatrate of tba Union mixing on thia occaaion
with hia fellow cituena, to enjoy " melody'? aaauaaive
aoonda." No diaeordant note a?aoch aa loo often grate
upon hia ear-?were to be beard. Here " every eating
care" waa lulled by mnaic'a witchery ; every aound
tended to aoothe and aoften the aeperitiee of political
feeling, and verify Armatrong'a linea?
" Muaic exalte each joy, allaya each grie?
Expela diaeaaea, aoftena every pain."
We wteh thia muaical company all aucceea, and are
aatia6ed they will moet with the patronage they ao richly
deserve. Such a galaxy of talent hae never before pre
sented itaelf in our city. H
Flour waa aelling at Cincinnati on tlie 20th mat. fur
?5 56 to 86 76.
Miaprints in tho IV No. of " Publiua"?In the third
paragraph the word right ia twice printed in the place
of the word weight.
roa thk madisomak.
TREASURY NOTES.
NO. V.
Can the friends of the htte administration,
who warred "to the knife" against a United
States Bank, give their sanction to the crea
tion of paper money in any shape or under
any name ??Treasury notes, as low as twen
ty dollars, intended for circulation, payable to
bearer?transferable by delivery only ! Pa
per?promises to pay,?created, by Congress,
to constitute a circulating medium! Confess
edly, without a specie fund to redeem them
with !" Will it be contended this may be done
by those who deny the power to the General
Government to create a corporation clothed
-with authority to do substantially the same
thing ? That the government may do by itself,
what it cannot do by another^ If this be the
sum and substance of their scruples about a U.
States Bank, on the score of its constitution
ality, it is only necessary, in order to over
come and quiet those scruples, to select the
officers of a United States Bank from among
the officers of the United States Government,
permitting thein, at the same time, to continue
to hold their offices in the government!!
Congress pass a law, and the executive
carry it into effect, authorizing the issue of
such Treasury notes ; and yet the govern
ment denied the power to create a corpora
tion to issue bank notes intended for circula
tion ! Where will the advocates of the new
expedient, denying the old one, find a war
rant for the new one ? What clause of the
constitution confers it on them ? Let us see
if they can find it in the 1st clause of the 8th
section of the 1st article of the federal con
stitution. It is as follows:
" The Congreaa ahall have power to lay and collect
taxea, dcc., to pay the debta and provide for the com
mon defence and general welfare of the United Statea."
Does the bill of the Committee on Finance,
to authorize an issue of Treasury notes, fall,
within the scope of that power conferred by
the constitution, on the Congress ? Most
clearly it does not. It lays no tax to pay the
debts of the government, or to provide for the
general welfare of the country. It lays no
tax whatever. It is altogether foreign to the
subject.
No argument can be drawn from the terms
" common defence and general welfare." The
power, aa to these general purposes, is limited
to acts laying taxes for them; and the general
purposes themselves are limited and explain
ed by the particular enumerations subjoined.
The power "to issue Treasury notes" is not
to be found among the particular enumerations
of power contained in the constitution. If,
then, it exist at all, it must be classed among
the incidental powers " necessary and proper
for carrying into execution" some one or more
of the particularly enumerated powers. And
can the advocates of tho bill, to authorize an
issue of Treasury notes, find a warrant for
the passage of the bill in the 17th clause 8th
section 1st article of the foderal constitution?
It is as follows:
" The Congreaa shall have power to make all lawa
which ahall be neceeaary and pro|>er for carrying into
execution the foregoing power*, and all other powcra
vested by thia constitution in the government of the
United States, or in any department or officer thereof."
Is an issue of Treasury notes necessary " to
raise and support armies ;" or "to provide
and maintain a navy;" or " to establish post
offices and post-roads ?" To execute these
and all other expressly granted powers of a
similar character, the Congress is clothed
with the particularly enumerated powers " to
coin money" and " to nay the debts" incurred
in executing them. (laving the powers " to
coin money," and " to pay the debts of the
United States," if tho revenue be not abund
ant, or be not available, to pay the debts in
curred in executing the enumerated powers,
the Congress has the expressly granted pow- i
era " to lay and to collect taxes" w herewith
" to pay the debts." Being clothed with the
power to create and to levy a specified means,
and to regulate its current value, with which
to pay the debts of the United States, can the
exertion of a power to issue Treasury notes,
thereby creating another, besides the speci
fied means to pay the debts with, be fairly
taken, under the constitution, to bo necessary
in executing the enumerated powers ? Clear
ly not. If the specified means be not suffi
cient in executing the enumerated powers,
the (tower to create and use other means must
be first conferred. The essential character
istic of the government, as composed of li
mited and enumerated powers, would be de
stroyed, if, instead of specified means, any
means could be used, which, (aa in the rase
of Treasury notes,) might be considered con
ducive to the successful conducting of the
finances, or might be conceived to tend to
give facility to the obtaining of loans or the
paying of debts. .
Do the advocates of the bill to authorize
an issue of Treasury notes, find their warrant
ia the 2d clause of the Ml section of the 1st
article of the federal constitution ? It ii u
follow*:
" Ths Congrets shall have power to borrow money on
the credit of toe Doited State*."
Is this ? bill to borrow money T It does
not propose to borrow a cent Is theie any
fair construction by which this bill to authorize
an issue of Treasury notes, can be deemed an
exercise of the power to borrow money f The
obvious meaning of the power to borrow
money, is that of accepting it from, and stipu
lating payment to, those who are able and
willing to lend. To say that the power to
borrow involve* the power of creating the
ability, where there may be the willingness to
lend, is as forced a construction of the power
to borrow, as to say that it involves the power
of compelling the will, where there may be
tbe ability to lend.
" If," in the language of Mr. Madison, from
whom 1 have borrowed the foregoing thoughts,
regarding them as strictly applicable to Trea
sury notes, as they sre to bank notes, created
by the direction and uuder the sanction of
the general government?borrowed from the
great ability of his Speech in 1791, although
his after-act may be held to impair his wil
lingness to lend?" if, by virtue of the power
to borrow, Congress can areata the npeans of
lending, and in pvrsnance of these means, can
incorporate a bank, they may do any thing
whatever creative of like means."?They may
even authorise an mime of Treasury notes. But
if the power to borrow does not comprise the
power to create tbe ability to lend, it is evi
dent that the advocates of an issue of Trea
sury notes, can find no warrant in the granted
Etwer u to borrow money on the credit of the
niled States."
If the advocates of an issue of ten millions
of paper promises to pay, denominating them
Treasury notes, can find no authority, for do
ing so, in the power " to lay and collect taxes
to pay the' debts of the United States," nor
in that of borrowing money, nor can truly
class it among the direct incidental powers
" necessary and proper for carrying into exe
cution" the expressly granted powers. I ask
in the name of the constitution, and of the
States, and of the people, where do they find
the authority T I pause for a reply, premih
ing, however, that the aarch-eitchanter, neces
sity, which acknowledges no allegiance to the
constitution and laws, should not be appealed
to ; for in that, they may as ftiirfy find and for
tify a disposition and determination to incor
porate a National Bank, authorized to isaue
bank notes intended to constitute a circulating
medium.
PuBi.rus.
From iht CkarUUuvilU ( Va.) Jtffertontan Rtyuhluan.
The Petersburg!! Constellation of the 9th
inst. denounces that portion of the Republi
can party in Congress, who supported Tho
mas Allen for public printer, as the " faithless
22." If by faithless the Constellation meant
that they are faithless te the ultra-radicalism
and Loco-focoism which have of late charac
terized the Constellation and some other of
the " par-excellemee conservative" hard money
men, we admit the truth of the charge ; but if
it is meant to charge them with being u faith
less" to the republican party and the true inte
rests of the country, then we hesitate not to
assert that the charge bae no foundation in
fact.
The Constellation may rest assured that the
" Conservative squad" as they are elegantly
termed, will be faithful to themselves, to their
constituents and te their country, by fighting
against the errors of Radicalism and Loco
focoism, wherever found, on the ono hand;
and United States Bankism on the other?and
whether they are to be driven from the sup
port of the administration or not, depends en
tirely upon the administration and the bulk of
its supporters. The Constellation Becms to
be laboring to produce that result, and if
the " 22" are to be continually abused and
denounced, merely because of their adherence
to the old established principles of the Demo
cratic party, then the Constellation and its
fellow laborers may shortly congratulate them
selves upon the consummation of all their ex
ertions in the overthrow of the party.
We have never admitted that because a
man supports, generally, an administration, he
is therefore bound to support every act of that
administration, right or wrong; nor can we
recognize either the justice or the propriety
of denouncing any man, or set of men, as
" faithless" merely because they will not sur
render their own deliberate convictions of
duty to the dictum of an editor. A man who
could thus act would deserve, and would re
ceive, the execrations of an enlightened com
munity.
We contend that every man is bound to
canvass, fully, freely and fearlessly, every
proposition submitted for his action, let it em
anate from what source it may -r and if it ia
right, approve and sustain regardless of
consequences. The interests of the country
are dearer to the heart of the patriot than tbo
interests of party; and when they come in
contact the latter should be but as dust In. the
balance. A man who acts upon such princi
ples as these, must of necessity act right, and
may confidently anticipate the plaudit, " well
done," from his constituents and the country
at large.
The Constellation thinks that the loss of
the " faithless" will be more than made up by
the acquisition of Mr. Calhoun and the Nnlli
fiers; it may also congratulate itself upon ano
ther acquisition, in the person of the senior edi
tor of the Whig. Now the fact is, that neither
Mr. Calhonn or Mr. Pleasants has come over
to the doctrines of the Republican party, but
some of the latter have taken up tbe doctrines
of the former. Let the Constellation and other
administration presses engaged in lauding
the Sub-Treasury scheme look to it, for thero
is a sting in its tail, depend upon it, and they
will find it so before many months, if it should
pass Congress.
SAMUEL HEINECKE inform* bis fmnde and tho
public, that h? ha* takes a room four doora north of
Doctor Gunton's spotherary store, on ninth street, where
be wiH carry on hia business. Ho feels coafidont, from
hia long experience in cutting all kinde of garments, that
ffar nil satiafsctioa will be given to auch aa may favor
im with their custom. ?*p *3 3taw3w
PHRENOLOGY.?Tbe subscriber has taken an office
for a few dsys, in Effort haiMing*, near tbe Native
American Hotel, where he will make examinations and
giro inatnictiona in the Sconce of Phrenology
All who may wish to put this science, which leaches
that the character and talents of persons sre indicated by
the form and site of the head, to the searching teat of
practical experiment, or to obtain eon*** and minute de
scriptions of their ewn characters, are invited to call.
Each examination will be accompanied by an extensive
work upon the subject, presenting a foil new of Phreno
logy and also preserving the description given.
S7lndividuals wilt be waited upon at bis office, and
select partiea sad families at their owelliiifa.
15 ALONZO BARTLETT.