Newspaper Page Text
. d t t o ?
T- ll? ^jfSSSS^Stfi -
?tiling* of CongreM. ?n month., ??.
c.m * ?? ???"'? J jk.u for . term .hurl of
No tubicripiioi) will w
mouihs ; ..or uulw. P?"l f<" ? ?*??*??
pairs or ad*mti.iku
Twelve line., or leM, three iii?rlion?, * ?> J?
Fach additional insertion, - *
Longer ^.MtiwnmU .t ^rtUe by
A literal dwcouot made ?o those who aaier j
the year . . ^ in bin, of ?olvent
V J"Tr.2; provided it .hall ap
^ b>72SS2^' certlie.te, th* such remittance
^ri.UL^-w,.l bo madoto comp.nie.oMM
of more MlMf " ?ur
?ralu for every *. .Mg fulfilled.
"tended L Ihe e.U
UbCS will not be received unle- the ?
rr vi will be devoted to the support o?
u puJm and doctrines of the democratic p.rty, ??
deZeTby Mr M.di>o.i, ...d will ...n to consummate
fhit uolutc.l reform in the theory ?nd practice of the
. i ??vcrniueiit which h.. been repeatedly indi
XrttXL* ,..Me..ti.rto the peace
SftiSpeni? of the country, .nd to the perfection .nd
DcrDetuiiy of iw free institution.. At thi. Ume . .ingu
Kt Title of affairs it presented The JJJ"
terests of the country .re overwhelmed w th emb.ir.M
mcnt; it. ?*eury concern. ?
every ratification of society u mv.ded by di.tre.., .nd
the soc i.l edifice teem, threatened with di?org?nil?tioii,
every e.r i. filM with prediction, of evil .nd the mur
muring* of despondency; the general government i?
kuldiv ^.sailed by . I.rgc .nd re.uect.ble portion of the
SmS, .s the direct c.use of their difficulties ; open
fZtUace to the laws i. publicly encouraged, .nd .
spirit ef Mi.ub.r4in.tWn i* fo.tered, as . necess.pr
defence to the pretended u.urp.iion. of the party \n
pewcr; .oine, from whom better thing.>were toped, ??
making the " confu.ion worse confounded. by . head
lohtr pursuit of extreme noliona .nd indefinite phantoms,
toullv incompatible w.ih . wholesome state of the
country. In the midat of .11 these difficulties and em
barrassment., it la fe.red that many of the lewrtrm of
ihe friend, of the .dmini.tration and supporter. of
democratic principles are wavering in their <f?? Je?ce.
?nd-beginning, without just cause, to view with distrust
those we. to whein they h.ve been long attached, and
whose elevation they have laboured to P?ol?
honest and patriotic motives. Exulting in the
tion of dismay and confusion amongst the supporters of
the administration aa the consequence of these things
the opposition are consoling themselves with the idea
that Mr Van Buren's friends, as a national party, are
venting to dissolution; and they allow no opportunity to
pass unimproved to give eclat to their own doctrine.^
They are, iudeed, maturing plans for their own future
government of the country, with seeming confidence ol
This confidence is increased by the fact, that visionary
theories and an unwise adherence 10 the plan for ail
exctuiiM metallic currency have unfortunately carried
some beyond the actual and true |>olicy of the govern
ment; *ud, by impairing public confidence in the credit
system, which ought to be preserved and regulated, but
not destroyed, have tended to increase the difficulties
under which the country is now labouring. All these
st*iu 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 the administration, and the true sentiments,
measures, and interests, of the great body of its sup
porters. The necessity also appears of the adoption of
inure conservative principles than the conduct ol 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 ?elf-respect at
home, aud to the promotion of the honor and credit of
the nation abroad.
To meet the.e indications this undertaking ha. been
instituted, and it is hoped th.t it will produce the eftect
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, thi.
journal will not seek to lead, or to follow any faction, or
io advocate the view, of any particular detachment of
men. It will a?pire to .ccord . jurt 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 understanding,
of men, rather than appeal to any unworthy prejudice,
or evU pa.siotia. It will rely invariably upon the prin
ciple, th.t the .trength and security of American insti
tution. depend upon the intelligence and virtue ol the
Tut Madisohian will not, in any event, be made the
instraiaerrt of arraying the north and the south, the east
and the west, in ho.tile attitude, toward, each other,
upon any .ubiect of either general or local interest. It
will reflect only that .pint and those principle, of mutual
concession, cempretaiae, and reciprocal good-will, w
?o eminently characterised the inception, formation, ^
subsequent .doption, by the ?everel States, of the c
.titution of the United States. Moreover, in the sain
hallowed spirit that has, at all periods since the adoption
of that saered instrument, characterized it. DSPKNca
by Tint people, our press will hssten to its support at
every emergency that shall ariso, from whatever quarter,
?nd tinder whatever guise of philanthropy, policy, or
principle, the antagonist power may appear.
If, in this rcsjM>naible undertaking, it ?hall be our
good fortune to succeed to any degree in promoting the
Earinonv and prosperity of the country, or in conciliating
iealousies, and allaying the asperities of party warfare,
by demeaning ourself amicably towards all; by indulg
ing personal animosities towards none; by conducting
ourself in the belief that it i. perfectly practicable to
differ with others in matters of principle and of expe
diency, without a mixture of personal unkindness or loss
of reciprocal rcspect; and by " asking nothing that is
not cletriy 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 enterprize has not been underUken without the
approbation, advisement, and pledged support of many
of the leading and soundest minds in the ranks of the
democractic republican party, in the extreme north and
in the extreme south, in the east and in the west An
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 aa 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.
p THOMAS ALLEN.
Washington City, D. C. July, 1837
WINES, tie.?J. B. MORGAN & CO. are now re
ceiving from the Robert Gordon and President, a
fine assortment of wines, <Vc., partly as follows .
Wines of the Rhine? Hockheimer, vintages 1831, 1827,
J825 ; Rudcshciiner Cabinet, 1834 ; Johannesberger, 1827,
1834; Marrobruncr, 1827, 1834 ; Steinwein, 1834 ; Stein
berger, 1827. With a number of low-priced Hock wines.
Champnrne*?Of the Cabinet, (this is said to he the
best brand of Champagnes imported.) Anchor, Grape,
Bacchus, and Heart, brands.
Cardial*?Manschino, Curacoa, Abscynthe, Stomach
Bitter, and other Cordials.
Sherritt?Pale and llrown, very superior
Maileirai?From Blackburn & Howard, March (Si Co.
Otard's Pale Brandy, very superior.
London Porter, Brown Stout, and Scotch Ale.
Sardines, truffles, anchovy paste, French mustard,
pickles, &c. 20,000 superior Havana Segnrs.
We have about 20,000 bottles of old wines, Madeiras
and Sherries, most of them very old; with every variety
of wines and liquors in wood.
All orders from abroad punctually attended to, and no
J.B. MORGAN * <?<>
THE New York and Boston Illinois Land Company
will offer at public auction at their ollice in the town
of Quincy, Adams County, Illinois, on Monday the 2?tli
day of Novemtier next, 100,000 acres of iheir Lands situ
ated in the Military Tract in said Slate.
Lists of the lands may lie hail at the office of said Com
pany in Quincy and at 44 Wall Street, New York.
A minimum price will bo affixed to each lot at the time
it i. offered.
JOHN TILT,SON, Jr
Agent for the N. Y. & B. 111. L Co.
Aug. 25, 1837.
THE MADISON IAN.
VOL.1. WASHINGTON CITY, THURSDAY, OCTOBERS, 1837. NO. 19.
PENSION 3T BOOLE franchise ET AN
GLAlSE.?Madame DORMaN hw re-open her
French and English Boarding and Day School. Bhe
teaches herself the French school, and a very competent
voting lady from New York tenehea the English school?
situate on 10th street, (oar duura from the AveauS.
CoNfKBBMCBS 4MP CONftlMTMIU IN PBBKCM.
Madame Dob mam will devote three hour* iu the even
ing lo Conferences and Conversations iu French, foe the
improvement of ladies of mature yean, and of young |
ladies who atudy or have studied thia language, aa it is the
beat way to remove and prevent the objections that tboee
who have learned thia language by atudy are seldom able
to converse it. At the North, Conferences and Conversa
tion rooms, such as Madame Dorman proposes, are always
crowded; thia manner of instruction being both pleaaing
Ladies wishing to attend theut will please apply to
Madame Dun nan.
Sept. 12. 2aw3wll
STOVES I SToVehT AN 1)~URATE8
I HAVE just received from the North a very large sup
ply of Stoves, Grates, and double Block Tin Ware:? I
Coffee Biggins, Dressing Boxes,' Jtc. 1 hare Stoves of
almost all kinds, suitable for wood or antI. In the Ami [
place, I have the Kolary Cooking Stove* of all the differ
ent sises, No. 0, 1,2, and 3. Ten Plate Stoves of all the
different sises, both for cooking und plain. Franklin
Stoves of all the different aisea. 1 have some very splen
did Parlor Stoves for burning wood or loam. Coal Stoves
of all sises. Dr. Sjioor's Cool Stoves, fancy and plain
tops, from No. 1 to 5. Coal Stoves of other kinds. Dr.
Spoor's Coal Stoves and the Globe Shoves are most suit
able for Public offices, large hslls, churches, stores, aid
steauibouts, or any apartment where you wish a strong
best In fact I have Stoves that will heat any place, either
with wood or cool. 1 havtj the. latest fashion Mantle
Grates, both low snd high fronts, very cheap?and if 1
have not a pattern of Grate on hand that will suit, 1 can
make it at the shortest notice, to suit say fancy, i am
fully prepared to do any kind of 'I'in, Copper, Sheet Iron,
Stove, Urate, Lead or Zinc work, at the sliortest notice.
Any person or persons buying Stoves or Grates from the
subscriber, or any other thing in'his line, will hsve them
sent home in gotid order, free of any extra charge. Stoves ,
will be put up ready for use, free of sny extra chsrge.
All the aliove articles will lie sold very low, and ull or
ders thankfully received and punctually attended to, with
despatch, as I shall have a number of firsjt rate workmen.
Five doors East of I). Clagett's Dry Good Store, next
door to E. Dyer's Auction Store, Penn. Av.
Sept. 9. (Intel, snd Globe.) 3t8
1IA.NK OF WASHINGTON.
29th August, 1837.
AT the regular meeting of the Board this day, present, j
the President and nine of the Directors, it was una
Resolved, 1st. That on and after the first of September
next the notes of this Bank lie redeemed in specie.
2d. That all deposites remaining undrawn, (the same
having neurly all been received since the suspension of |
specie payments,) and all future deposites, other than
such as may be made in specie, and be at the time so en
tered, be payable in notes current in the District of Co
3d. That all collections for Banks and individuals, and
all curtails, be received in notes current as above ; and
that all sums so collected be psid iu like funds.
W. GUN TON, President.
JAS. ADAMS, Cashier. 6tdod6
/Congressional documents, journals,
LAWS, AND DEBATES?GEORGE TEM
PLEMAN has for sale at his Book snd Stationary Store,
opposite the General Post Office, all the Journals of Con
gress, from 1774 to 1837. Gales and Seaton's American
State Papers in 21 folio vols., from the first to the 24th
Congress inclusive, or from 1789 to 1823.
The Regular Series of Documents in royal 8 vo. vol
umes, as published each Session, from the 18th to the
24th Congress inclusive, or from 1823 to 1837. The Laws
of Congress, in 8 vols, containing the Laws from the first I
to the 22d Congress inclusive, or from 1789 to 4th of 1
March, 1833; the seiies is made complete to the 4th of
March, 1837, by the pamphlet Laws of the 23d and 24th
Congress. This is the edition used by Congress and the
Story's Laws of the United States, in 4 vols, from' 1789
to 4th of March, 1837. The 4th vol. contains an index to
the four volumes.
The pamphlet or Session Laws of the United States
from the 5th lo the 24th Conrsess inclusive, or from 1797
to 1837. Any separate pamphlets can be furnished.
Gales and Seaton's Register of Debates in Congress.
All Documents on Foreign Relations; Finance, Com
merce, and Navigation; internal Improvement; Military
and Naval Affairs ; Indian Affairs ; Public Lands, and on
Claims of every description can be furnished separately
Also, for sale as above, a large collection of files of j
Newspaper* published in Wssbington, and some of the
principal citiss iu the United States.
Aug. 23. tft
OUSE furnishing GOODS?We have for
50 pieces ingrain carpeting, which we will sell low.
50 do Brussels.
62 do 5-4, 6-4, 10-4, snd 12-4 Linen Sheetings.
100 do 7-4, 8-4 Barnsly Diapers.
8-4, 10-4 and 20-4 fine Table Cloths.
Napkins to match.
1 bale Russia Diaper.
1 bale wide Crash.
Also, 50 Marseilles Quilts.
WE have for sale, which w e will have made up in the
20 pieces super, black Cloths.
100 do ribtied and plain Oassimeres.
20 do plain and figured velvet Vestings.
50 do colored and black Silk Vestings.
BRADLEY & CATLETT.
G1 LOVES, SUSPENDERS, STOCKS, WOOLLEN
r SHIRTS, AND DRAWERS ?We have to-day
30 doz. Suspenders, best kind.
50 do. superior Gloves.
50 do. Stocks, best make.
50 pieces Silk Pocket Handkerchiefs.
50 dozen Gentlemen's Ribbed Woollen Drawers.
50 do. do. do. do. Shirts.
6 do. Raw Silk Shirts.
50 pieces Irish Linens.
200 do. Sea Island Cotton Shirtings.
BRADLEY & CATLETT.
Sept. 8. 3taw2w8
SAMUEL HEINECKE informs his friends and the
public, that he has taken a room four doors north of
Doctor Gunton's apothecary store, on ninth street, where
he will carry on his business. He feels confident, from
his long, experience in cutting all kinds of garments, that
Keneraf satisfaction will be given to such as may favor j
im with their custom. sep 23 3taw3w
PHRENOLOGY.?The subscriber has taken an office
for a few days, in Elliot's buildings, near the Native
American Hotel, where he will make examinations and
give instructions in the Science of Phrenology.
All who may wish to put this science, which teaches
that the character and talents of persons are indicated by
the form and size of the head, to the searching test of I
practical experiment, or to obtain correct and minute de
scriptions of their own characters, are invited to call.
Each examination will be accompanied by an extensive
work upon the subject, presenting a full view of Phreno
logy and also preserving the description given.
I?7lmlividuals will be waited upon at his office, and |
select parties and families at their dwellings.
IS ALONZO BARTLETT.
THE SUBSCRIBER wishes to procure a Lot of
ground of about 20 or 25 acres, intended for Wheat
or Rye, this season, as near the Capitol as possible; for
the purpose of exhibiting during the present session of
Congress, his Patent Revolving Harrow, JSic. As a proof
of the superiority of this implement over the common drag
harrow for pulverizing the soil, and the destruction of
weeds, he is willing to lake one half of the field with three
good horses, to be worked abreast by one man, against s,x
common drag harrows, each two horses and one iiinii; in
doing which, he pledges himself, that the earth shall In
put in as good, il not better order in the same space of
time, which may I* rf*c|uircd with the six common harrows.
After the work is done, disinterested judges will he se
lected onthe spot to examine the same with a four pronged
fork or rake, to enable them to decide correctly which of
the implements is best calculated for preparing the soil
for the reception of the grain. And as a further proof of
the value und superiority of his Kotary Harrow, the grain
will be turned in by it on one-half of the field, and the
other half in the usual way by the drag harrow. When the
grain is reaped, threshed and measured, he does not hesi
tate to insure an increase in the crop of 10 per cent., over |
that hall" which may be cultivated by the common harrow .
Where farmers are in the habit of ploughing in their grain, j
hi- will take 5 pecks to the acre, and produce 10 per cent,
more by Rotaty Harrow, than 6 pecks turned in w ith the
JAMES D. WOODSTDE,
Near the West Market.
SeptlG Wanhmgtim, D. C.
WE HAVE FOR 8ALE?
10t) pieces Black Silks, superior mako
50 do Figured Blue Black do
150 do Colored Figured Silks
100 do Plain do
The above will be sold low.
BRADLEY & CATLETT.
ro? THK MADISONUN.
THB TSKAIVBV MOT**.
Tb? notes conformed M? the provision* of the bill as
it has |n"~< the Senate, will be somewhat different
from the description given of ihem in my laat Utm.
Still however, they will not come within the acbpe of a
fair and unexceptionable exerciae of any one of ihe par
ticularly enumerated powera conferred on Congrea* by
the federal conatitution.
Th* notes which the bill authoriaea are to bear an in
terest which may be six per cent.; transferable only by
endoreetnent; to be paid at a day certain ; not re issua
ble; not to be iasued of leaa denomination than ?100, i
to be cancelled when taken up; and upon them the Se
cretary of the Treasury is to raise money, U? wit, gold
and silver, by loaning them.
Such are the chief constituents of their character, and
the main object* of their creation. They are not in
tended to represent actual capital, but to create ficti
tious capital! Their nature doea not conaort with can
dor and freedom of action. It is in consistency with
that spinl which contrive* the ?upertwtoUcalltio
trade. They " partake at once of the character of notes
discounted in bsnk, and of bank notes in circulation,
and a well i ng the mass of paper credits." The effect of
creating this mass, to wit. ten million* of fictitious capi
tal, will be to increase " that specie* of traffic, wbicb,
the President's message says, " instesd of being up
tield, ought to be discountenanced by the Government
and the people."
The Secretary of the Treasury is to raise money on
theui by loaning them: and there is no doubt that
lenders will present themselves, and that the whole ten
milliona may be borrowed in gold and ailver, just as fsst
as the Government shall want it! So say the advocates
of an issue of the Trcasury notes. It is in this way
the Government is to mistify and disguise its chsracter
of a borrower to prevent and mianse its power to bor
row money ! ! If the Government must borrow, in the
nsine of magnanimity, let it be done openly.?Let the
Government become an avowed and undisguised bor
rower of as much as it may need of the eighty millions
of gold and silver, which the lack of general confidence
now consigns to idleness in private cheats, and in special
bank deposites. This would be the clean thing. 1 Ins
would comport with the candor and the intelligence of
this enlightened community. This teould br for the
Government to avail itself of its expressly granted pow
er " to borrow money on the credit of the United
One of the objects of the Treasury notes, say the
advocates of the bill, is to relieve the late deposite
hanks from an immediate press for six millions In,
deed! It will directly tend to deprive the State
banks of all chance of gelling possession of any portion
of the gold and silver for which the Treasury notes may
be loaned, and on which, if the late deposite banks be
left a fair opportunity to get it, they will soon enable
themselves to resume specie payments. If the Govern
ment intends not, by degress, to kill the late deposite
banks, let ihcm be spsred this wondrous measure of re
lief. Instead of creating a fresh supply of paper issues
to raise money on. let the General Government, (if in
deed it would extend relief to the late deposite banks.)
by law, consent to take the notes of these banks, at
such discount (if it must be) as will enable it, without
loss, to raise on these Stste bank notes the amount of
specie wanted. This, clearly, would look more liko a
rOR THB *ADlSOWAW.
Our country has. for some months past, presented a
curious, if not an alarming aspect. We find scattered
around us a great number of banks, which required for
their creation the open, direct, and unequivocal support
of a majority of tho representatives of the people of the
different ststes in which they have been established.
Owing in a great, though secondary degree to advanta
ges derived from the banks, our country has prospered
and flourished for a series of years beyond precedent.
Facilities for intercommunication, in the ahape of roads,
rail-roads, canals, dcc. have been made and multiplied
in the country to a very great extent, facilitating com
merce and intercourse, promoting general prosperity,
and cementing more firmly the bonds of union between
the varioua and remote sections of our great common
The advantages of banks and bank credits seemed to
be seen, felt and acknowledged by all. Their benefits
were not supposed, or asserted to be confincd to the
lenders or the equally or more willing borrowers, nor to
both these. The industrious, but cautious farmer and
mechanic, whose efforts of gam were limited lo their
usual and more appropriate vocations, from the resdy
sale and advanced prices of their several productions,
have harvested the surest, though not always the lar
gest gains. Still many a farmer and mechanic availed
themselves, advantageously of bank credit for supplying
the means of establishing themselves in business or ex
tending their operations. " Times were brisk," indus
try was stimulated, and inducements to crime were les
sened in number, and weakened in force by offering
employment to all, and liberal rewards to landible ex
ertion. Tho interests of all producing classes were
never better promoted, while those engaged in com
merce and speculation seemed also to prosper.
But he need not live long to bo disappointed, who,
in our latitude, forgetting in spring the past winter, and
the regular succession of seasons annually produced by
the revolution of our earth, should delude himself into
tho expectation of perpetual uninterrupted verdure and
bloom. So he deservfcs little credit for sagacity and
forecast, who, in a time of general prosperity, shall flat
ter himself into the hope of living long, and meeting no
interruption to such a state. And the statesman who
would effectually guard against all fluctuations in the
price of tho products, and tho occurrence and recur
rence of revulsions in the business of a country, must
not confine his efforts to the destruction of its banks, to j
the establishment of a national bank, or to a change in I
the administration of its government; but he must
crush all that spirit of enterprise, which so proudly and
particularly distinguishes our citizens, and must effectu
ally close all the avenues of trade and business against
The best and swiftest horse is limited in his strength
and speed ; and, no doubt, he might endure longer if he
were never to exeit himself to the full extent of his
power. But what credit would be given to the horse,
that, despite the goads and whip, of rider and drivers,
walks or shuffles on a steady pace, while those of his
kind around are competing for the prize of superior
speed ! Or where is the purchaser who gives a highor
price for such 1 The banks were on all sides beset by
borrowers of all partiea and classes, all eager to parti
cipate in the advantages of the general rise in price of
property, "deriving its first impulse from antecedent
causes," to which each successive purchase gave new
impetus and force. This again simulated and increas
ed the demands for further extensions of bank credits
loo crest a compliance with which, no doubt, enlarged
the foundation for subsequent embarrassments, as the
nutritious, healthful and innocent productions of the
farmer may bo made to minister, to a vitiated appetite,
the means of sickness or even death.
The price of public land, unwisely or unfortunately
fued too low, drew all eyes on them. Those who had
paid Government two, four or more dollars per acre in
tunes past, saw now far tetter lands, and ready cleared
for use, selling for one dollar and twenty-five cents per
acre. Tho cupidity of speculators was excited to mo
nopoly The provident care of parents, farmers, me
chimei and la)toreri>, of all clssses, took alarm at the
prospective and anticipated wanta of children uncrown,
and |K>ei.ibly unborn, whe" Government abould have no
landa to aell, and these objects of a parent'g care must
either be laudlesa, or leud their earnings to swell the
profits of monopolizing ?peculator* Few or none
thought of withdrawing capital from other purauita, on
whicn they relied for supplies to meet current expenses
for aupport, Ac. and very few, comparatively purchas
ed for immediate use. All or nearly all had recourse
to banka for the means of purchaae or ? part thereof
The speculator had no doubt of nuking sales at profit
to meet hia debt. The farmer but anticipated the sale
of hia crop, and tbo mechanic the aale of hia goods and
warea. The known reeponaibility of prioci|>al* and en
doraeri left the banka no grounda for excuse on the
acore of safety or aecurity. Thua circumstanced, and
thua besieged, banks loaned till they dared not loan
more The mere stop in loana which bad been ao long
extending, without any calling in, occaaioned a shock,
auch as felt by a newly tethered animal, when suddenly,
for tike first tune, brought in unexpected contact with
the circumference of the circle, to which his operations
But before this abock, during the season of prosperi
ty, ? war originating, no dount in principle, waged
against the bank of the United States, while it derived
ita being fron the National Government, degenerated
into a scrviU and ainiater war upon the credit and char
acter of a stite institution, bearing the aauie name. As
an offset to tlis, ? wsr equally inauspicious to the wel
fare and interests of tho country, wss wsged and pros
ecuted, by the opposition, with virulence sgainat state
banka gliterally, but more auocially directed againat the
credit tf those aelected aa fiscal agents of the Govern
ment In either esse the greatest prudence and finan
cial ?kifl manifested by the conductors of banks, in hav
ing their fun4s snd credits so disposed ss to be most
useful to themselves and their creditors, affurded nn
protection against the basest sttacks, wherein the be
siegns seemed to bt competing with great zeal for the
homr of hitting upoit some new charge, whose original
ity aid worth sliould be tested by its incapacity of being
tracid to any foundation in fact or juat inference. The
besngers often evinced the rare generalship of turning
therrongest defences of the besieged in upon thein
selv>a. Had a bank credits at places where such cre
dits were worth more than gold and silver in her own
vauta, the aliaence of the meiala. for which these credits
wea more than a substitute, waa trumpeted and lilus
tend forth wiih great "pomp and circumstance." to
these whose vocations and opportunities precluded the
potsibility of profound examination, as evidence of de
preciation in value of their notes. True, the people
wer slow in crediting?though they sssisted in circu
lating these slanderoua charges against the crcdit of
biinVa, while thev daily saw those most vehement in
thefr charges and complainta, receiving, with avidity aa
nwiey, the notes of the banks thus charged and com
pinned of. But at this juncture the " Treasury Or
dir," an exercise of disputed authority, a measure of
qiestionable policy, and attempted to be justified by a
lav of doubtful expediency, came m to the aid of the
btsiegers on both aides. With the motives or policy
wiich prompted the passage of the law referred to as
miking the "Treasury Order" necessary, or with the
natives which induced the order for the "Treaaury Or
dir," I have no concern. I speak of them merely as
ccistences affecting the subject under consideration,
vliich owe nothing to me, and over which I have no
cmtrol. The effects of this order upon the money cir
cilation of the country were two-fold ; it reduced the
qiantity, and narrowed the apecie basis of that which
The war upon banks had fostered, in the bosoms of
iiany, a latent miserly feeling, which regarda money as
Ue chief good, to be hoarded and kept as auch, and
vhich induces a distinction between money for circula
ion and money for hoarding. The " Treasury Order,"
ended further to arouse this feeling to action. Perhaps
a reference to the rash and ill-timed attempts to aup
press the circulation of bank notes between the denom
inations of one and five; and, in aome instances, ten,
twenty, fifty and even one hundred dollars, a* giving
nourishment and activity to thia feeling, should have
taken precedence of the "Treasury Order,*' without,
however, " standing on etiquette," all combined to
subject the vaults of banks to the double draught of
those who wanted for purchasing lands, and those
grown anxious to hoard. Under the influence of these
circumstances, the deposite with the statea, of the eur
plus revenue, in itself a good meaaurt, haa been pro
ductive of much evil, and contributed largely to the
present embairmsfcments of the country. Add to these
circumstances the abrupt and unexpected check to our
credit,and credit facilities ubroad, accompanied by a
ruinou* depreciation in price of our chief staple for ex
portali?i, and it may be considered, at least, problema
tical wlelhcr the aubsequent regulations of the Treasu
| ry and other department of Government, requiring
specie fayinenta for customs and other Government
dues, w;rc necessary to compel a stoppage or suspen
sion of specie payments by the banks.
At aiy rate the banks were by all these circumstances
reducet to this alternative; they must throw their
weight )ti the. side of distress and add immeasurably to
tho exiting embarrassments?to the inevitable ruin of
hundred of their debtors, and to the great hazard of ul
timate l?s to themselves, by attempting to force an im
mcdiatcbollection of their debts to enable thein to meet
the unutial and often unnecessary demand for specie ;
or they must suspend the payment of specie for their
own noes to enable themselves to give further time to
their dettors to make turns and payments at less sacri
fice. 1} choosing the latter, the cormorant feeders on
ruin and distress have been in a manner deprived of a
rich repst; though demagogues and brainless politi
cians lave been suppliod with some new terms and
epithet? with which to give embellishment and greater
variety lo the tuneful changes daily rung for the enter
tainmeit and edification of gaping multitudes, too often
wilhngto manifest their weight uuacrupulous of conse
The people were scarcely allowed to feel the relief
affordri to'community generally, by the suspension of
spccie payments by banks and the consequent relaxation
in their collections, before the campaign against them
was reicwed with additional weapons and redoubled vi
gor mi virulence. They were bandied about by party
organs, from party to party for paternity, like the unhap
py offspring of some unfortunate and unwedded female
in a crowd, where all countenance and relief arcf with
held trim fear of incurring a suspicion of co-operatiou
in its jfoduction. Of the thousands of petitioners for
banks *i their respective neighborhoods, whose requests
gave :ke first impulse toward their creation, or of the
hundreds whose voices assisted to give them being,
none were to be found. At the sudden and unexpected
appearaice of a large and strange wild beast, to a per
son alote and unarmed, often impels him to flight for
safety, and fills the uiind with apprehensions greatly dis
proportioned to the actual strength and ferocity of the
animal; so in this precipitous war upon banks, the ima
ginations of many honest people have invested them
with qualities, of which a closer examination would prove
them quite destitute and harmless. They have been
regarded as having the power, in virtue of their cor|>o
rite privileges, to flood the country with their incon
vertible and irredeemable paper, againat the consent and
aiprobation of community, and without thereby subject
iig themselves to any legal liability" for their rcdemp
ton. To hear many of the arguments with which our
lewspnpers abound, and with which the very air is im
jregnatcd in the neighborhood of an approaching elec
tion, a person is almost in danger of being compelled,
igainst hia judgment and knowledge, to adopt the sup
Kisition, that it is as difficult to close one's h6use, with
out the aid of government, against bank notes, as to
close it against the ants and flics that so annoy our
housewives in summer.
But a close scrutiny into "ascertained facts" will
:onvincc any person that uncounted rolls of bank notes
are ncv?,r forced, by virtue of corporate privileges, on
?"v individual unsolicited ; and that the act of incorpo
ration for a bank does not compel any one to borrow or
receive its notes. Still with as much propriety as a
man would forawear the use of horses, who had loaded
his horse beyond his strength to carry in a difficult piece
of road, without a check to his speed, thousands joined
the cry against banks, who never experienced any diffi
culty from them except the difficulty of getting enough
of their notes. Hundreds who had been pressing ap
plicants for a further extension of their loans, were now
loud and clamorous in their denunciation of censure for
the extravagant issues and extended credits of banka.
The discovery has been made that none are benefited
by bank issues except the hanks themselves and their
immediate borrowers, and therefore any countenance
given to banks by government would be favoritism to
particulsr interests ! Thousands who never thought of
any other obligation upon themselves to pay a debt, than
that created ny law, have had their moral sensibilities
greatly wounded by the want of moral honesty mani
fested by banks in their refusal to redeem their notes
wilh iptciu on demand ! Mtny other* *buhiv? contri
buted to the necessity for auapeusion, use the uiost
eluborata and convincing arguments lo prove, and do
iiiconleatibly prove, that the protntu to pay ? dollar is
nut, in fact, a dollar ! and that an irredeemable and de
preciated paper currency >? w>t equal lo gold mm) ail?M !!
But do these arguments and the existence of a mint
with branches, supply the precious metals from which to
coin tpec.o in sufficient quantity to supply the place
now occupied by this paper circulation 1 Does this ba
lance of trade promise a supply of this metal from fo
reign countries) Or will the most convincing argu
ments in proof of the great inferiority of log cabins to
fine substantial brick or alone houses, and the destruc
tion of the log cabins in our country, supply the (.resent
occupants of those cabin* wilh each ? fine comfortable
brick or stoue house in place of the log cabin you de
stroy 1 It would probably be well to Lry the experiment,
at first, if at all, on a small scale. '
A voice from Qumcy haa proved that the energies of
her diaiinguiahed statesman aro not wholly absorliod in
A nlimasonry and Abolitionism, and has furnished a
plaster, no doubt very acceptable to the consciences of
counterfeiters, by a favorable comparison of 'heir guilt
with that of directors of suspended banks. Ii is sin
cerely to be regretted by those who have nol been able
to divest themselves of a lingering feeling of respect
for a man to whose credit have been placed talents of a
high order, though much abused and prostituted, that he
should not have been able to distinguish between the
moral turpitude of voluntarily contracting a debt with
out intending lo pay, and ihe forced inability to meet a
debt at its maturity, without any attempt to deny or
evade the liability. .
A voice from the Hermitage has spent its killing
force upon the prostrate banks, and relieved the friends
of the Hero, from any apprehensions they may have en
tertained, that by neglecting to continue his illuatrtons
name in conspicuous connection wilh all the factional
and party strifes of the day, he would suffer his fame to <
Klule into the shadow of that of his immediate prede
cessor. The Senator from Missouri has alao held forth
denunciaiions and annihilation to banks. Nothing short
of the shining metal may greet his palm. His spirits anu
prospects suffer no depression from the general embar
rassments around. He sees no cause of alarm so long
as the officers of Government have a fair prospect of
their pay in ' gold and silver ' In the public lauds,
saved by the sagacity of Gen Jackson, and the 1 reasu
rv order, from the grasp of the devouring speculator,
his quick sighted genius haa discovered an undoubted
source of ample supplies for all the wants of Govern
ment The poor and enterprising occupant settlers, for
whom his aym|>athies flow so freely, are invested, in his
vivid imagination, with such an irresistible attraction for
the precious metals, that a current is formed, in pros
pect, to them, and through them to Government,'tn ex
change for lands, sufficient to feed ihesc supplies.
In a retrospect of the action of ihe two great political
parties, into which our almost entire population is so.
nearly equally divided, the profound statesman and true
patriot will view with the greatest pain, that disposition
manifested with such prominence by each, to give to
anv important measure of Government, a party charac
ter and aspect, thereby preventing any friendly union of
energies to promote the general interests of the country, ?
and laving the foundation for that indiscriminate censure
and obloquv which each bestows, in such profusion,
upon the actions and motives of the other, bach is
boisterous in charging over upon the other, ihe cause of
any interrupliona lo a .late of geneial prosperity ; and
in taunting its members wilh any supposed -or real fail
ure of a measure to realize the expectations of its sup
porters. No allowance is made for an honest difference
of opinion ; and ihe dangers thrown around a magnani
mous relinquishment of opinions, honestly embraced?
but found on closer examination to be erroneous?are
as great as those attendant on an attempt to escape
from one army to another, exposed lo ihe fire of both,
during an engagement.
Among the evils flowing from this state of things,
and bearing directly upon our subject, are the malicious
taunts and jeers of the Opposition, at the embarrass
ments of Government in paying Us creditors, since the
suspension of specie payments by thetwt.ks.whichhas
beguiled many an honesi supporter of ihe Administra
tion from the true democratic position, that Government
should be instituted and administered for the benefit of
the governed, into the recommendation and support
of measures, whose practical effect can be justified only
by the supposition, that the chief end of Government is
to provide\vith certainty for the payment of its officers
and agents, in a currency unsusceptible of depreciation
In the estimation of these it would seem that the highest,
if not the only duties of a statesman concentrated in
contributing to this provision alone, al whatever sacrifice
of other interests. With them it seems only necessary
to provo the aii|>eriority of gold and silver over depre
cated bank paper, to establish the duty of Government
to make its collections in metal only. As tlie supporter
of Mr. Van Buren, I regret this the more sincerely that
his late Message seems to justify the fears, that lie has
been deluded by false expressions of public sontiineni,
and a very strong desire lo fortify the future fiscal
operations of Government, against influence from the
fluctuations incident to individual and corporate opera
tions, into the momentary embrace of the belief, that a
strict construction of the Constitution, and the only one
to which the popular sanction could be obtained, wojild
confine the action of the Government to this object. An
inadequate estimate of the causes of the present suspen
sion by the banks has led to an over ""mate of the
"embarrassments" and "dangers' to which Govern
ment has been "exposed" by its fiscal connections
And an over vigilant desire to avoid >" futur? lh*
" dancers" and "embarrassments to which put tya
tems nave been "exposed," has absorbed wme of lhe
scrutiny which should have been bestowed on that
which is proposed as a substitute. Amidst the appre
hensions excited by the prospect of converting the
" moneys" of Government, " raised for. and necessary
to, the public service," " into a mere right of action
agamst corporations entrusted with the l^ssiou of
them," he seems to have wholly overlooked the fact,
that a ncglcct or refusal of " its own officers to^ pay
over when called on, would convert the amount in their
hands ? into a mere right of action." not againatco -
i.oration*," whose notes, in spite of all the efforts o
Government and individuals to deprecate '^.answer
all the legitimate purposes of money in the commoi
business transactions of the country, but against indi
viduals whose notes for twenty dollar, would not pro
bably sell for five. This oversight would excite no
surprise, if a view of the past furnished no?[ ?
violation of contract, or failure to meet demands, with
payments on demand, cxcept such as were traceable to
In closing this tedious, desultory, and mu.mg article
not at first intended for publication, 1 give the follow g
conclusions as some, to which an examination of the
subiect has borne me, whether they are sustained by the
pr2m.es or not, to wit: That the present pecuniary
embarrassments of the country have been greatly aggra
vated by the impolitic party warfare that ha. been pro
secuted by antagonist political parties, against the
credit and standing of banks, tending to excite unfound
ed alarms as to ihe.r ultimate solvency ; that these
same embarrassments would b* greatly relieved by re
storing to Ihe community the confidence in ?
which they have been so unwisely deprived , that the
refusal of Government to receive in payment of dues o
it any thing but gold and silver, will neither tend to
restore this confidence, nor to improve the credit of
bank paper ; that the resumption of specie payments by
the banks in the face of such action by the Government
would increase existing embarrassments, by making; t
necessary to enforce a speedy collection agamst the*
debtors, who compr.se a large .nd respectable number
of the community, belonging to both political P*"1".
and who, in their turn, have further claims upon other
members of the community ; that a divorce of Oo
vernment from Banks" will not protect the money of
the former against the possibility f bc,nK. r?7suitJ
into " mere rights of action that the right of Mate
Government officers and agents to have then: pay "j
metal, is as valid as that of officers, Ac of thegeneral
Government, and that the assertion of this right by the
former, in pursuance of the example of the latler, would
not still restore confidence m bank notes, nor ?uppjy
metal to fill their places; thai a construction of the
Constitution, consistent with the views of Us a??omy.
will not limit the action of Government to providing f
The payment of it. officer., &c.; that ,t is
unjust ... Government lo hold out strong md-icements
to imprudent extensions of cred.t and embarrassing
speculations, by fixing or continuing the price of pubbc
lands below iheir value, to prove the generosi y of
vernment officers in disposing of that ' .f(] lo
their., except a. a trust; and that, having #|)
such extensions, it i. tyrannical to ?"de""'r to
unnece..ary contraction of .och cr''1'' n th, denomi
force out of circulation bank notes >e whtle such
nation, of five, and twenty, or fi - convenience
attempts are uncalled for by th? or B
oT the community.
t'rvm lAt ClutrUtlun Mercury
TUB llB.TBBill'BV ICUEMI
The establishment of a bard money nystern,
and whether it succeed or fail, tbe acbeme of the
President in, as far a? it go**, tt bard money sys
tem would cramp all the great functions of mo
dern commerce, industry axjdeaterprixe. The
vine and the tig tree are the bek-uiitul but hum
ble emblems which poetry has given to the other
uKe? of prosperity aud luppineh*. It was pros
(x-riiy and happiness of shepherds or thudy scat
tered hordes, who partly clothed tb?iiia?elve? nkiats,
and fed much on (fie spontaneous fruits of the ?artb.
The disutf is the image which represents their in
dustry. The figure confines it to domestic scenes
and the feebler sex. All was little?all was priva
tion?happiness was little more than the abseiMe 01
want ana misery. In the most accomplished nations
of antiquity, (ainong the Greeks and the Romans )
the mass of mankind were degraded and miieraDic.
It was reserved for modern commerce vastly to aug
ment the happiness, enlarge the sphere and elevate
the condition of the great body of mankind. U has
put tbe coulter into the forests of the whole conti
nent, where, but for it, tbe beasts of prey would
have been the lords. It has quadrupled the burthen
of the harvest field?peopled the wide ocean?led
those who were ready to perish, and covered the
poor not only with comfortable, but luxuriant rai
ment. Even the slave, (we hope the fact, tor tt is
neither figure or fiction, will not nauseate the Ad^
litionist, whi?v stomach digests better the miseries
of the race,) is sometimes " clothed in purple and
fine linen." Go where you will iu the tracks of ex
tended commerce, and you will find the condition ot
man favorably contrasted with other ages and other
countries. But extended commerce is.never found
amidst the sterility and paucity of hard money.
Credit, the happiest and most powerful creation of
modern times, is the inspiring and sustaining genius
of commerce. In magnitude and in beneficence, it
is like tbe atmosphere, and the showers w hich biing
?u> life and cheriali and force to maturity the crop o
the earth. Like them, too, we admit it may swell
into a tempest which shall spread desolation far and
wide, but it would be little less wise for that
reason, to destroy the b ?eficent power, "h?
it would be (could our puny arrogance ?nd? ?
the thought,) to petition the Almighty to shut he
Heavens and imprison the winds, because one of
those awful humcances which we * "
ness, should pour its temporary yl0J*Df V" erf
happy clime and soil. It seems to be a
lure that our greatest blessings, should aI -
time, be the instruments of our greatest aflbctions^_
The effects of the Presidential scheme on the ap
proaching season uf active business, would p o y
be most injurious. This season of business p -
eminently important, and ii not oppres^d andern
birrassea bv unwise legislation, w^n9.^btde^
eminentlv propitious. It ought to pay all the debt
we owe to foreign countries. A vast crop of raw
produce is to be sold. Our importations tcK. ouKht
to be revived. Commerce must not be allowed to
slumber too profoundly. It must be roused from Us
present lethargy. The currency Uowe.er is all
important to these operations, Tho g ? y
sneedilv be made sound, the confidence, that it is in
success^uTprogress to'that happy ?Su?r"e
will be reviving to the public mind. Any inea.ure
5 atimewhose object is to eyrimeat on rt.
would be depressing, and should not be ha/arde .
The leading object of the Executive Government
appears to be, to make safe a deposit of ten,
of dollars, which we have seen to be
dantrer But if our views be correct, this schemc
would be likely to reduce the value <of ^
ticle of our produce (cotton,) in this singl
business, to that amount.
We think then, it apiwars that when the scheri
nrouounded by the message, has been thus nnal>zed,
F,s?ES are found to be eomiamtvMg.
ant, the arguments in support of its specious falla
cies, and its portents alarming. ? done!
But the eternal inquiry is, what is to be done
Ponirrcss has b?en called together, it is said, to pro
K2SSS ? aSi.CSkMi b<V ?
little and certainly not adopt the T^M?r>^he'"e.
We think the Government ought'to cent'?eo
act as it has done since the stoppage of the banks,
with very little variation. Thai it ought not to re
ceive any thing but gold and silver in the collection
of the revenue, until the banks shall laithfully re
deem their paper. That it should declare its rea
diness to employ, as before the stoppage, the agen
rv of the banks as soon as they shall resume their
payments bow fide, and exhibit probebte evidence
bf their ability to continue to do so _ The Govern
ment should disburse its specie as fte tt U stalls
reive it that it may aid in restoring the circulation
to soundness. If the banks shall, at the same time
be reducing their loans, however moderate their
reductions may be, as the crop of the year vnllbe
in the market to pay our fojeign debt, with a con
Unuing demand W specie for paynu-nts on ac
count of the revenue, there will oe little dang
its beine exported. When its specie shall, from
lime to time be exhausted, the Government should
make its payments in drafts on such of g^eposite
banks as shall be in good repute. But these dra
ouirht not to be received in payments to the uov
ernment We anticipate the objection that the
Government ought not to exact better money than
iTnavs to its creditors, but the objection is not
souni The duties were imposed with refere^.c.
a sound currency, and have neither nsen nor fallen
wiih reference to the conditions ot the ^[re"^d?f
this country. Those who have sold their goods,
augmented their prices, it is to be
ing to the conditions ot the currency when they(Sold
them Those who shall in future import, will do
the same They will therefore onlvdischarge their
legal and equitable obligations when they pay in
specie and at the same time the operation will be
eminently beneficial in preparing Re country with
the means, and familiarizing the c.:Y ?
with the habit of specie payments Ol. no conside
nit ion whatever should the vital revenue of the
country be received in irredeemable paper. There
oughtTo be some sure foundation on which o place
th.'lever bv which the currency is to be restr.ed ?
There ought to be some dry land raised above, he
? flood on which the ark may rest. These drafts of
??government, not being receivable inpymenu to
the government, will be received in 'beP?ct'^
currency of the time, will mingle in> the cui-rent
transactions of society, will furnish mean, to the
debtors of the banks of reducing their debts, and
will, no doubt, in many instances, be pa d into the
hmks on which they are drawn, by their debtors
into wh<"e hands they will fall. Thus the govern
ment will be paid, the creditor of the government
will be paid! and the banks will be paid by their
debtor* and be enabled so far to reduce their loans
and "heir issues. The only objector to the measure
if any, must be .he creditor of the governmen. nnd
we will now see whether such objection be well
founded. We must also inauire, whether it will
affect injuriously the credit of the Government It
maypeXps bewid it is unconstitutional, but this
cannot be alledged with truth. Our proposition is,
that the pay me n t shall be offered forthe volunUry
acceptance of the creditor If be refuse, which e
will show he cannot equitablv dto, he will reUin h
claim till the Government shall be able to pay mm
in gold and silver The public ^editor mu^have
his " nound of flesh" if ne demand it, but SAylock:
must not spill the heart's blood of the ooxa^wn itv in
an, it. v
it be constitutional, for the pa> m jt wM
tarily received or not at all, but the eflect.t *111
have on the credit of the crcdlmr The
try. and the equitable claims of th ^ ljl(e
credit of this Government is not ,0onits credit and
that of one whose finance depends ?" the
which must conseguently^epend ^ ^ ^
ways and means of the ye ? no we
must govern the questmn ron1d get them to any
want no loans, and. it we did, rou^dge j
amount, whatever r?''rscmUl "f the country. How
tant question aflcets.h , ^ answer, by restor
will that best be ?>stJ prartlcal currency, and by
ing the soundness ^ ^ accofnplished, and
no other means, is ^ Afrrfoulture will
every thing el* wj|1 ^ rewarded, enterprise will
flourish. (in th^ rthf.r hand, the currency
Sj, ?.i ?? i-vnv. "?<i iW' ??<1