The Madisonian. [volume], November 03, 1837, Image 4

About The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845

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THE MA J) IS 0 N I A N
WASHINGTON CH"I?
FRIDAY, NOVSMtt^H 3. 1W7.
~ orrlc? "l . ? .??T, liTWlw'*. ?TU T.MTE
In tmo*? 7h7NUT^hT^ a?? l?t rn??
,? CS.TV-I* IMMWMMWU". L.M.TV, A.XD IN ALL
tiiiko* chabitv.?Aufuttm.
r *, Persons wishing to subscribe lo this |?l'*r will
' bj.ir in mind, tbal we invariably require jxiyuuiU in
advance. ?
? But mv zeal for his service is superior to neg
lect; and, like Mr. Wilkes'patriotism, thrives by
persecution. Yet his majesty i? much addicted to
useful reading; and, if l am not iH
honored the Public Adterltser with particular auen
tion."?Junius.
THE GLOBE.
" You will not question my veracity, when I assure
vou that it has not been owing lo any particular re
spect for your person that I have ibitained Irom vou
J, ion" Besides the distress and danger with which
ih<- press is threatened, when your lordship i, party,
and th- party is to b_-judge, 1 confess I have b*-n
deferredVy the difficulty of the task. The language
has no term of reproach, the mind has no idea of de
icstation. which has not already b-ten happily ap
plied lo you, and exhausted. ?Junius Letters.
We regret that we are agiin under the ne
cessity of inflicting upon our readers a com
mentary upon the Globe newspaper. The
position we occupy imposes the painful task
upon us, and we desire to perform it as le
niently. but as justly as possible.
In the midst of a general calamity a pro
position has been suddenly proposed to
change the entire practice of this Government
from "the beginning, in a most important par
ticular. It was a proposition, totally unex
pected by the party from whose head it pro
ceeded, and for which the people were less
prepared. A natural sagacity anticipated
differences of opinion in regard to it, but by
no means an alienation of feeling. It is a part
of the Republican creed, to tolerate differences
of opinion, and to conciliate feelings engen
dered by them. It was the misfortune of
many distinguished members of the party in
power, that their minds could not conscien
tiously agree in the conclusions to which il
seemed that of the Chief Magistrate had ar
rived. They took upon themselves the re
sponsibility of expressing the views which
had impressed themselves upon their own
minds, and resorted to the privilege conceded
by all parties of discussing, fully and deli
berately, the subject at large. In so doing
they may have crossed the path of personal
ambiiion, or endangered the schemes of pri
vate interest, but it has not and cannot be de
nied, that they acted in strict consistence with
the law and the Constitution, and with the
canonized precepts and acknowledged prac
tice of the democratic republican party.
But for this, the Globe has presumed to
take them to task, in a-spirit, illy calculated
to strengthen what little confidence the pub
lic may have reposed in that print. We do
not undertake to follow it minutely in the exe
cution of its office. The two main points it
endeavors to establish would be sufficient to
indicate its course, if not its design. These
are, that those who differ from it in opinion
are inclined to a severance from the demo
cratic party ; and 2dly that they are identical
with the federalists of this country, and the
conservatives of Great Britain who seek to
perpetuate the English Monarchy. Nothing
could be more palpable than the distance of
these two assumptions from every shadow of
truth. Their reckless injustice, places
them below the dignity of argument.
Who is it, that the Globe seeks to identify
with the enemies of the Republic, for the
purpose of rendering him obnoxious to the
censure of his countrymen ?
A pupil and friend of Jefferson and Madi
son, in whose charge a distinguished States
man * would fain have reposed'the honor of
Virginia ! A man, every impulse of whose
heart, is prompted bv the loftiest patriotism,
and the most sincere devotion to those free
institutions, in whose influence we glory, and
under whose protection we live?a statesman
of unrivalled sagacity, extraordinary talent, un
wearied industry and extensive acquirements?
an orator of surpassing fluency, eloquence and
power?a diplomatist, who won for the late
administration its earliest triumph, and se
cured to the American people, whit multi
tudes had failed to accomplish, indemni
fication FROM THE PLUNDERERS OF EU
ROPE?a politician, whose whole life and en
ergies have been eminently devoted to the
democratic republican party, and whose own
mind has but improved the lessons imbibed
from the apostles of its creed.
Such is the man ! And does the official
organ of the Executive look with so much in
difference upon his services or his friend
ship, as to carelessly upbraid him in the face
of the people whom he hath so faithfully
served, for a mere difference of opinion upon
a paltry matter of expediency ? To what
length will this unbridled audacity cast itself?
Are such too as Tai.lmadoe, Kixo, Le
oare, Gari.and, Ci.ark, &c., all good men
and true, to be cut off for the same cause and
by the same unmerciful Shibboleth ? Would
he finish his sweeping courae till the whole
party is mowed down around him?
If it differed from those gentlemen in opi
nion, it would seem that the difference might
have been exhibited w ithout an ostentation of |
war. A liberal spirit of toleration, especially |
where reason was left free to combat error, |
would better have comported with that dignity
of conduct which should be expected from
an organ claiming the exclusive confidence
of the Executive, than a descent to personal
allusion and denunciation suffered to be in
spired by passions of, we will not say, petty
revenge and jealousy. ' Whatever may have
bren its private mortifications or feelings, re
spect for its position, respect for the country,
and a regard for the general principles of
the party in power, should have secured it
* John Randolph.
from the torture* of enry and the disgrace of
personal malice.
But so it in. It must be confessed (hat un
der the auspices of the Globe, the exercise
of charity is exhausted, and the hope of unity
fails. History, customs, facts and re?soil
ing. fall so ineffectually upon its car, that the
inference is, it is either defective at heart or
infirm in its understanding. If it plumes it
self upon its ingenuity, it certainly is not ad
mired in the same degreo in which its incon
sistency is detested. Of the latter we have
M collected tl.e scattered sweets till iheir uni
ted virtue tortures the sense." Of the former,
we will only say, that, ?cunning, like bad
money, may be current for a time, but it will
be soon cried down." ?? An honest man like
?he true religion, appeals to the understand
ing, or modestly confides in the iuternal evi
| deuce of his conscience. The impostor em
ploys force instead of argument, imposes si
lence where he cannot convince, and propa
gates his churacter by the sword."
If the Globe had been consistent in its
course there would have been less justice in
our severity. Hut a politician, who is 44 ev
ery thing by turns, and nothing long," with
little intelligence and no discretion, attempt
ing to rally a party whoso principles are
eternal and immutable, under a banner guided
neither by sincerity nor stability of purpose,
must cherish a very mean opinion of human
nature, if he supposes they will follow such a
lead.
We need not speak of the various phases,
evolutions and revolutions of the Globe, to
furnish the reader an application of these re
marks. Its efforts to deceive the public in re
lation to the vote of the House of Represen
tatives on the unfortunate Sub-Treasury bill,
and Mr. Garland's amendment, and the vari
ous pictures we have heretofore presented
from its own drawing, must slill smell from
the Globe to Heaven. It is sufficient now to
say, that ; fterall the confidence that has been
reposed in it by the democracy, as their cham
pion against the field of opposition, it now
stands forth, as the herald and sponsor, under
the flag of John C. Calhoun, trumpeted as ad
ministration leader of the 44 Senatorial cohort"
in a 44 revolutionary and disorganizing" cru
sade to 44 subvert the entire practice of this
Government, from 1789, down to this day."*
Forgetting and forsaking the old friends of the
late President, who stood by him on the side
of the Constitution against Nullification ; who
stood by him in his efforts to 44 regulate the
public deposites with the State Hanks," and
who adhered to him throughout his eventful
career, it courts the alliance of their bitter
est enemy and reviler! It applauds his efforts
and those of his coadjutors as wis j and patri
otic, while it turns upon the pillars of the ad
ministration, and, with a suicidal hand, aims
to beat them down as dangerous and deceptive
obstructions in the way of its party's triumph !
Strange infatuation !
Is it not enough that it has driven some of
the earliest and ablest friends of the late Ad
ministration from the party, and lost Tennes
see ? Is it not enough that its course has
secured the defeat of the Vdininistration in
Maine, Rhode Island, New Jersey, Ohio, In
diana, and Georgia ? Is it not enough that
it lias cursed the party through out the coun
try with apathy and indifference ? Must it
still persevere in its work of "revolution and
disorganization?" Would it endanger the
stability of the party in New York, and drive
Virginia in disgust from the support of the
Administration ? Let it persevere in the
course it is pursuing, and these ends which
it seems really to desire, will be inevitably
and effectually secured.
* Sec Globe, Nov, 20, 1834.
THE SUB-TREASURY AND ITS
SPONSORS.
Our labors, thus far, have been directed faithfully
to the bast interest of our common country, and for
the unimpaired supremacy of those great principles
which have ever distinguished the Republican party.
It has been our aim to soar above all factious feel
ings, and to keep far from us the spirit of illibsrality.
We have brought the habits of our life, which have
been these of patient investigation and study, to aid
us in deciding on our course of duty, and in sustain
ing us in our defence of that course. The result of
this investigation, we regret to find, has brought us
into political conflict with some, with whom it would
have been our pride to have harmonized in thought
and action; but every claim of independence and
every obligation of duty have made this difference
inevitable.
The Sponsors of the ill-omened Sub-Treasury
scheme are disposed to cling to it still, if we mistake
not the signs of the times. We can but lament this
infatwition, after the signal defeat of this measure by
that branch of Congress which represents imme
diately the will of the people; and, when we find
S.ate after Slate pronouncing their decided negative.
We regret it, because it is urged in violation of all
the warnings of experience, and against nil sound
doctrine. \V e have consulted every authority, whose
opinions we have heretofore been taught to regard as
fundamental and orthodox, and all, all are against
the measure. Wc regret it. not because we fear that
it wijl ever have legal authority, but because it is
pushed with a jiertinnriiy, and defended with a zeal
not the best calculated to harmonize all the elements
that enter into the controversy, and which belong
together from affinity. We regret it, because its
friends are disposed to make it a trst question of
fidelity to the Administration; and because they are
disposed to deal harshly with those Mho will not
yield their honest convictions, their right of opinion,
and their sen?e of duty to the mandate of arbitrary
authority. We regret it, because Virginia, New
York, Georgia, South Carolina, and Illinois, will
never consent to see their Rives, Tallrr.adgc, King,
L"gire, Garland, Clark, and May, ostracised for
their able, dignified, and patriotic stand against a
novel measure, which they think strikes directly
ai the ro.,t of the highest interests of the country.
They will never consent that an arbitrary standard
?i! iTk"' 'k"* created, by which these men
S * " out P'lle of the political church,
and branded as apostates, for lhf. purpose of foisting
over their heads the father of NULLIFICATION,
with all his heresies thick around him. Thev will
never consent that this outrage shall b- pirated
against their faithful representatives for defending
the doctrines of Jefferson, Madison, and Monroe,
and the opinions of Dallas, Crawford, and Chcves.
No ! the people will never consent that their vigilant
sentinels, rich in intellect and proud in honor, shall
bo driven from their sphere of usefulness, for re
pudiating iite flimsy inventions of an objure Tyro,
whu, at this enlightened age of the world, comes out
wuh a meager pamphlet, to show that all the stand
ard works of political economists, nnd the healed
principles of statesmen in Europe and this country,
and ail the experience of ages, upon the subject of
Aoance and banking, have been nothing more than a
ttAsue of errors, fallacies, and oppression f f!
It is not in the power of all the factitious aid that
can b ' brought to carry out the visions of this feeble
pamphleteer, that can subvert the settled doctrines of
republicanism; that can revolutionize the stable
principles of political economy; that can disregard
the wise counsels of experience, and force the coun
try to swallow the "gilded" nostrums of this revolu
tionary Snngredo. They are destined to sink, dis
honored, before the clear vision of an intelligent
people. And we firmly believe that the day is not
distant, when some of the advocates of these strange
doctrines will b_- ashamed that they were Gouged by
such weakness and folly.
Proud should we be, if we could see the honored
functionary who has adopted these indefensible
measures, too weighty for him to carry, and too un
seemly for his plastic hand to fashion into comli
ness, "throwing them like a loathsome weed away;"
and by so doing, give to all his friends reconciled
fellowship; and to his administration, a popularity
that would spring from a happy country and a grate
ful people.
" OPINIONS ABROAD."
The above, is a part of the caption of the leading
editorial of the Globe of the 3lst ultimo. That arti
cle gives its own views, under five heads, as to what
" the opinions of the London editors as to the proba
ble efleets of the system recommended by the Mes
sage, for the collection and disbursement of the pub
lic revenue," will tend to produce. It then says,that
in all the views "there is much truth and justice,"
and " that tiiey are precise!.y tub result* that
OUGHT TO BE DESIRED."
1 he Globe, it would seem, has found foreign ad
juncts, to aid in carrying out its views and doctrines.
Nou let us show what the London Morning Chron
icle says, from which the Globe gives more than a
column. From that column, quoted by the Globe,we
quote ; and its language is clear and distinct. It
cannot be changed by perversion. In reference to
the recommendations in the Message in favor of the
Sub-Treasury scheme, and establishing the Govern
menl currency of gold and silver only, it says, that, if
( ongress acts on his (tic President's) rieirs, tiif. im
mediate consequence will, no doUt, be much-additional
embarrassment." This, according to the Glebe, is a
result that "ought to be desired"! Again?It says,
" It will bring the paper System abruptly to a close''!!
This is another result " desired" by the Globe.
Again, it says, "the policy recommended by the
President will, however, meet with great opposition.
The number of public bodies and influential indivi
duals whom it will affect is very great; and I hey
will struggle against the ruin with which they are
threatened. The President has, no doub', the law
on his side ; but a rigorous enforcement of it will in
volve the commercial world in great confusion. In
fact, every debtor will find himselt burdened with a
heavy addition to his incumbrances, and all property
will fall in nominal value."
A measure which will cause a very great number
of tiultcidiials and public bodies to " struggle against
THIS RUIN WITH WHICH THEY AIJE THREATENED,"
which will involve the commercial world in
giieat conrision"; and, finally, to cause property to
fall in nominal value; are, according to the Globe,
" precisely the results that ought to by desired !"
For the sake of humanity and for the honor of the
American name, we trust in God, that there are few
to b^ found amongst us, who are hardened enough to
utter, much less to advocate, a measure,fraught with
so much evil; and to be followed to such ruinous re
sults as the London Journal (quoted by the Globe)
says M ill attend the adoption of the recommendation
in the Message to which it refers.
Against measures leading to such devastating and
ruinous consequences; and against those who advo
cate them, we declare open warfare; we draw our
sword, vowing to fall, if we do fall, with that in
[ hand; or never return it to the scabbard until they
are vanquished. Which is conservative, or which
destructive ; the opinions of the Globs, or our own">
The London Times exhibits a wonderful depth of
penetration in the following paragraph, quoted by
the Glob?.
Speaking of the early delib-rations of the late
Congress, on the vote for printer, that print says:
" The next step on which parties were measuring
their strength, was on the appointment of printer,
and here the administration party divided among
themselves. For Messrs. Blair and Rives, printers
ot the Government paper, the Globe, 101 members
voted ; lor Messrs. Gales and Seaton, 103; and for
Mr. Allen, editor and printer of the Mndisonian, the
new paper started at Washington in the interest and
by the joint purse support of the Rives and Wrieht
section, 22 only. b
The profound editor really penetrates deeper into
our purse, than we have yet been able to feel! We
have not even seen the gold through the "silken
intersticesI"
Senator King's letter to the editor of the Augusta
Constitutionalist, will bs found in our columns to
day. It is characteristic, but we regret that the stric
tures of a single editor of a newspaper should have
induced him to resign a position which he now a
dorns. We have no doubt, however, that his con
stituents would return him again by an overwhelm
ing majority. *
We copy the following from the last number of
the Albany Argus. We like the spirit and object of
the Argus, and would facilitate if possible its efforts,
in bringing the Globe to its senses ; but we fear we
might as well undertake to '? call spirits from the
vasty deep." We agree that the Globe " has it in I
his power, by friendly offices, to do much towards a
resumption of specie payments, and the restoration !
of general confidence." But to countenance such
"English,"" federal," " feudal"conduct, as a return I
to specie payments by the banks, would be surrender- I
ing the causc to which he has sworn allegiance upon I
the altar of Sub-Treasuryism. "Of his disposition I
to do equal and exact justice, as well to banks as to
individuals," the confidence of the Argus may re
solve itself into " doubt," by reference to the last
three or four numbers of the Globe, where "indl- i
vidua Is" are transferred fr.>m democrats into fede
ralists, and "banks" into "feudatories," and " baro- !
nial' castles. The Argus has no occasion to "re
flect upon the past course of the Globe," for how
severely, in its present remarks, does it reflect upon !
ITSELF! The Argus "simply seeks to secure its co
operation"?" in rescuing our currency and business
from its present derangement," and "to preserve the
ascendency of the republican party." This ;\s seek
ing singular aid. from one who is sworn to destroy
all banks, and in his " patriotism," is only "stimula- I
ted by defeat!''
We have overlooked until to-day. the following well I
deserved compliment to one of the he*t conducted in- |
stitutions in our state ; and from a source, too, whence !
honeyed words are not too freely poured over the b?nks. I
In copying it from the Globe, we take the liberty of
asking from the editor of that paper an inspection and
criticism of Hie Inst monthly returns of the hanks of this
state, and particularly of the hanks of this eitv. He has
it in his power, by friendly offices, to do much towards ;
a resumption of s(icc.ic payments and the restoration of
general confidence. Of his disposition to do equal slid
exact justice as well to banks ss to individuals, we have
no doubt ; and we fearlessly challenge a comparison of
the business transactions, since January, 1*37, of all
our stale institutions, taken together, with those of the
same number of individuals selected from any portion
of the United Staies, however distinguished for their >
prudence, skill, and sound business character
In making this su^eestion, we bv no mesns intend !
to reflect upon the past coursc of ihe (ilobc, or in any ,
respect to detract from the general and <o needed ability I
with which that |>a(>er Iu* Ihm-ii conducted. Wu ?nn- |
ply atek U> Mi uro ua co-opcr-iliou ui wlul we dutiu ?
desirable uiudu ot resetting our currency and bn?mea*
from iu present dt iaii^ciiiiiil, and Uiua lo preserve,
what we buili liMVu near at heart, the ascendancy of the
republican party, and ita legitimate consequence, the
true lulcreata and hooor of the country.
From the Globe, of llu lOlk iuat.
llcit'Mp-rHiN or Spkcii Pa viiENTa?In noticing the
fact of the reaumpliou of specie paymeuta by Uie Canal
and Clinton banka, we omitted to elate that a anuilar
course haa been adopted by,the Mechunica' and Far
ineri' Bank of Albany. The public apirit and great
ability with which llna institution was conducted d jnng
the panica of 1834 and 1837, increase* the gratification
we derive from the annunciation of ? fact ao important
<o the public and honorable to the bank.
Mil. X-IDOI'V SPEECH.
The reader will be interested and instructed by a
perusal of the candid, dignified and forcible argu
ment of the new republican member from Virginia,
which we publish to-day. Its calmness and sinceri
ty will recommend it to every mind, while its clear
ness and strength will not fail to carry convict! in. It
takes very strong ground against the Sub-Treasury
scheme, and hard-money policy. The following is
expressed with remarkable force and truth.
" I lay down, then, this position, and deny any re
futation. That the Governinent must, asa permanent
neceuilt/, deal in that currency in which the people
deal; it is the law of its creation, and inseparable
from ilscondition. It must receive what the people
receive, and pay what they pay?a necessity from
which Government cannot escape it it would?and
ought not, if it could.
The speech will bj issued from this office in pam
phlet form.
THE FLORIDA WAU.
The news from.Florida is more cheering than any
that has been received from that quarter, since the
war bjgan. We trust that the capture of Powell and
his leading confederates will row precipitate the
difficulties of removing the Sjminoles, to a close.
The following is from the Globd of 1st inst.
An official report has bsen received from General
Jmip, dated 8t. Augustine,-22d October, in which
he states that Asseen Yahola (Powell) is his prison
er, with nearly all the war-spirits of the nation.
The chief came into the vicinity, of Fort Pevton on
the '20: h, and sent a messenger to General Hkunan
rmz, desiring to see and converse with him. The
sickly sexson b.-ing over, and there being no further
necessity to temporize, General Jesi p sent a party ol
mounted men and seized the entire body, and now
has them securely lodged in the fort. He has Eina
thla, (Philip,) Ciie Hajo.Micco potokee, and Euchee
Billy, all principal chiefs; Coicoochee, (Wild Cat,)
Asseen Yahola, (Powell,) Chitto \ah>la, "luste
nuckee, and several other imp >rtant personages, sub
chiefs, with more than eighty first rate warriors; and
he has also guides who can lead the army into every
fastness in the country.
HVIll) MONEY.
We find in a rccent French paper this calcula
! tion:
The money capital of the principal countries of
Europe was recently Jive milliards of francs, equal
to abiut a thousand millions of dollars. Of thik
amount it is estimated that one-fillh hasb'enex
| ported to the new world, and nbsoibed by various
loins, &<\, there?leaving in Europe ubaut 800 mil
lions of dollars. These 800 millions constitute the
bise of 7,400 millions?the estimated floating paper
I d 'b' of Europe; and of all the paper money, com
mercial bills and joint stock, estimated at 4,000
millions more?making an aggregate of eleven tkoiir
i sa >ul Jour hundred millions of dollars, with a specie
btsisoi 800 millions, or a fraction less than one
dollar in coin for Jon rite n of paper.
This is rather a discouraging view for those who
would insist, at all hazards, upon a purely metallic
currency.
It would hardly suit the farmer, we apprehend,
to sell for one silver dolhr, what he now ob:ains
fourteen paper dollars for?nor the journeyman
carpenter, to take 75 cents in silver, for his week's
wages. Yet such would bi the issue of introducing
and enforcing an exclusively metallic circulation.
THE ItirSdVKHAHHA.
As we bilieved from the beginning, the reported
piracy will turn out a hoax. Men who who would
bj guilty of such trifling with the feelings of the
community, as to fabricate such a story, deserve
the severest reprehension and punishment. The
state of anxiety and suspense into which the many
friends of those on bjard the Susquuehanna have
b.*en involved, must have b^en inconceivably pain
ful.
The annexed information from the Charleston
Patriot of Sunday last, will go far to relieve the
public anxiety.
Arrived yesterday, schooner Planet, Smith, New
York, 7 days; *22d instant, at 1-2 o'clock, lat. 38 30,
Ion. 71, saw packet ship Susquehanna, from Phila
delphia, lor Liverpool, steering E. by S.
The Loco-poco's of the city of New York, deserve
the reprehension of every friend of the regular Re
publican parly. They before partly succeeded in
defeating the administration candidates. They will
now, we have no doubt, complete their designs and
defeat the administration in the city by at least 3000
yotes. The spirit prevailing in the interior,we have
good reason to brieve will still preserve the ascen
dancy of the administration in the State.
RESUMPTION OF SPECIE PAYMENTS.
The following letter of the New York Committee
was addressed to tho Virginia Banks :
" Nbw York, October 20, 1837.
"Sir: At a general meeting of the officers of tho
Banks of the city of New York, held on the 19th of this
month, the committees appointed on the 15;hof Au
gust l ist laid before the meeting the communication
received from Banks in the several States, in answer to
the circular of the Committee of the 18th of August
Igllt, t
44 Whereupon it wan unanimously Resolved, That
the banks in the several Stales, he respectfully invited
to appoint delegates to meet on the 27th day of Novem
ber next, in the city of New York, for the purpose of
conferring on tho time when spiecie payments may bo
resumed with safety, and on the measures necessary to
effect that pur|>osc.
" We pray you to communicate this letter to such
other hanks iu your State as you may deem proper:
and leaving the' number of delegjtcs entirely lo your
selves, we onl;* beg leave, to urgo tho importance of
having every State represented.
We have the honor to be, respectfully, sir.
Your most obedient servants,
ALBERT GALLATIN, J
OEO NEWBOLD, > Committee
C. W. LAWRENCE, )
?' Tho objections raised by tho Philadelphia banks,
induced us to wait till after Congress adjourned before
we callcd the proposed Convention. ? e were indif
ferent as lo the place of meeting ; a preference for Bal
timore was expressed by no other banks than those of
Virginia ; and the doubt, whether ihosc of that city
would unite with us, rendered it inexpedient, in our
opinion, to select it for the seat of the Convention.^
To tho President of the Bank of \ irginia.'
CORRESPONDENCE.
, Oct. 28, 1837.
With respcct to Mr. Wcb-ter's doctrine, that the i
General Government has the power to regulate other i
than the specie part of the currency of the country, !
resulting to it from the power lo regulate commerce,
I will briefly refer to other authority ol a negative
character.
Judge "Putter, of Virginia, with pains-taking
minuteness, traces the line of separation between
the jurisdiction*of the Federal and State Govern
ments. He comments on " the commercial power."
He tells of its design, i's objects, anil its consequences.
But he no where intimates that it does or was In
tended to confer on Congress the power to regulate
the paper part of the currency of the country. See
1 Tuck., Black. Cmnm., App. from "217 to *251 in
clusive.
Chancellor Kml, of New York, has given us, also,
enlarged and particular commentaries on "the con
struction of the power of Congress to regulate com- j
merce among the several Siates." Nor does he infer j
trouv " the commercial power," that it is the duty of j
tCooji#*, by r* julating other than the specie part of
he currency of the coun.ry, " (o maintain a currency
suiiuj u> the circumstancci of the times." See 1
K sn.'i Comm., Lect. 19, p. 401 to 418 inclusive.
Though 1 sjv this authority is of a negative cha
racter, it may b-* fairly considered to be ]>osiiive nega
tion of Mr. Webuer'* doctrine. These commenta
tors, in their respective works, profess totake a com
prehensive survey of all the powers of the Govern
ment, and the exact extent of each. Their omission
to enumerate this as a power resulting from that to
regulate commerce, is equivalent lo a denial of it.
C.
COMMUNICATION*.
ran tiie maduonian.
NATIONAL CI'IIKKSICV * MTATE BANKS,
THE MAR VI.AND PI. AN.
No. IV.
Having heretofore submitted a general outline of
the measure of relief and amelioration .presented in
obidience to an orderof the most popular department
of a sovereign state, as contained in documents No.
6, of both branches of the late extra session of Con
gress, and indicated by the above caption?having
exhibited in brief the nature and details of the sys
tem, and endeavored to demonstrate its avoidance of
all constitutional objection, I will pass onward to the
no less important point of practicability, with regard
to which it mi*rht suffice to refer to the unerring
guide of actual experience whereby the feasibility
of conducting a monetary institution with branches
or agencies in the several S ates and Territories
has been most clearly proved and demonstrated.?
And if such has b.-en th-j fact, under " vicious prin
ciples and limited means,'' with what greater confi
dence might bs anticipated the success of a system
based upon the wraith and credit or the whole n*tion)
guarantied bv tub stated, with a currency receiv
able in all pi'Due payments, and immediately con
vertible into coin.
In the discussion of this essential component of
the proposition, it may be proper to advert to i/uan
tum of currency proposed to be created, and to in
quire into its adequacy for the purposes extended.
As a correct test of an adequate supply of circu
lating medium, properly proportionate to the de
mands of industry and commerce in every civilized
society, the opinion expressed in the lucid view of
the President and Directors of the Bank of the Slate
of South Carolina is here presented in the follow
in? words:
" We may assume it as a principle applicable to
all stages of society, that the active capital of a
country biarsa fair and reasonable proportion to that
which is fixed and permanent whenever real can be
readily sold, or converted into active property at a
fair valuation, or whenever money can b.' easily ob
tained at a reasonable rale of interest oh secure
mortages of real estate. The last may be, proba
bly, the b?st test."
In the hypothetical application of this criterion,
an objection may arise as to Ike apparent paucity of
the proposed supply?in reply to which I will present
an illustration in that regard which shews that "the
national currency is not intended for the common
purposes of money, but as an auxiliary lo Ike specie
basis, and mainly for the facilities of commerce in
large transactions, in aid of the issues of the public
institutions of the several States. And although the
aggregate for the entire union may appear small, the
29,400,000 authorized to bs issued is greater than the
greatest circulation of the late Bank of the United
States. But if that amount should be found insuffi
cient, the demind might bj supplied by a further
emission for general circulation."
A great conservative and protective principle,
with reference to the practical operations of the sys
tem, would exist in the exercise of that "visitorial
and supervisory control over the institutions of the
Slates, and their respective branches or departments,
so eminently calculated to inspire confidence and
insure a compliance with the required conditions and
uniformity of proceedings" throughout the borders
of a great republic of free Slates.
The interest elicited in the proposition as mani
festedby publications in remote sections of the country,
may testify lo i s intrinsic m?rits ; and by inducing
inquiry, may eventuate in the adoption of a si/stem
calculated to effectuate the desiderata demanded by a
CRISIS WHICH THREATENS THE DEMOLITION OP Ol'R IN
STITUTIONS?to restore confidence by giving action to
recuperative energies, and to cement the union by a
diffusion' op benefits in equal,degree to every in- |
TEttF.ST and class of society.
PHILO FISCUS.
Lionel Wakefield : By th: author of " Sydcn
ham." Philadelphia. Republished by Carey, Leajif
Blanchard. 2 vols. 1837.
This novel is extremely well adapted to the times,
as it treats of " Speculations" matrimonial, moneta
ry, moral, and political, legal,literary, and occasion
ally, a little lackadaisical. It is a well written, en
tertaining and instructive book?a mirrour in which
hundreds, nay thousands of readers, will see them
selves most distinctly reflected. In short, it is the
speculator's manual.
For sale by Franck Taylor, at theWaverly Li
brary.
The Hawk Chief, a Tale op thi Indian Coun
try. By John T. Irving, Jr. Philadelphia: Carey,
Lea & Blanchard. 2 vols. 1837.
The very name of the author should entitle the.
work to the favor of the public; but apart from this,
its merit, as an interesting tale, will not fart to se
cure it.
We brspeak a fivorable reception for this
work, as anew and inexhaustible field of fiction and
truth that will prove both interesting and instruc
tive.
For sale by Franck Taylor, of this city.
Mr. Legare's Speech for sale at this office. Price
$3 03 per hundred.
From, the Augusta Constitutionalist.
SENATOR K1NU, OP UBORUIA.
Senate Chamber, Oct. 9, 1837.
Denr Sir,?Justice to myself compels me reluct
antly to notice an article in the Constitutionalist of
the 3d insr. In that article you do me great injus
tice. You assail me where I am most sensitive?but
at the same time most invulnerable. If I have anv
pride as a politician, it is the pride of consistency; if
I have any claim to merit, it ?s an adherence toprin
eiples; if I have any benevolent virtue, it is lasting
gratitude to my friends; and F wish no <tthcr distor
tion than that of an honest devotion to the interests of
my constituents. My claims and pretensions beinsr
humble, I assert them with the more resolution, and
hope vou will neither mistake my temper, or mv ob
ject if I call on you to retract or prove some oi' the
charges you bring agarnsi m ?.
I ask, then, what arc " the great principles which
the democratic party profess," which I hare aban
doned. and what " changes of .sentiment'' 1 have un
dergone which plaee me "in opposition to that par
ty," or the " solemn declarations o| the Legislature."
ft imports that I should know this, for it is perfectly
true that I " was twice elected by that party to the
exalted station" I hold ; and with the destiny of that
party 1 have united my own?and shall stand or fall
with it. R^mindin^ me of this generous confidence
was gratuitous ami unnecessary. It can neither in
crease mv gratitude, or add to my obligations. No
one knows b*tter lhan you, sir, that if my honors
were unmerited, they were a Wo unsolicited ; and have
always b *en at the disposal of those, who so gener
ously conferred them.
Bill what " solemn declarations of the Legislature"
have I disregarded ? I Jo you refer to my uniform
opinion on tne subject of the United States Bank?
My opinions on that subject have never been con
cealen or " chansrd," and were well known to the
Legislature at the time they elected me. So were
those of my then gifted cofleanne, wh jse opinions
were in accordance with in*' own. What " change"
then, have I undergone on this subject, that merits
your animadversion 1 I,have done nothing farther
than lo defend myself from unmerited denuncia
tions, and these loo, frequently from the mere popin
jay* of power, who most miraculously "chanced''
their opinions I am not yet a convert io the modern
doctrine (of sv*nc democrat*) of fort inf blnslngs .
upon the people, and I hare neither given, or threat
ened any vole at all calculated to alarm them on this
subject or which ihrowa me " in oppuoitkin" to these
" solemn declarations." In what else have I "re
cently take j a sUnd" in opposition to the great prin
ciples of the democratic party 1 U it my upi*jsii]?.u
to the self-willed follies of the Executive, adopted
and persevered in against the almost unanimous re
liance of the legislative authority of all parties 1
The act which I most condemned was oppt?ed in the
body of which 1 am a member, by a unauimous vote
with the exception of ?w. It had no support in the
cabinet before it was adopted, and was atierward, on
trial, condemned by the people; and again condemn
ed with great unanimity by the whole legislative au
thority. What " change is there here I I, with
my other democratic friends, resisted this measure
fiomthe beginning; and step by step, foretold moat
of the mischievous consequence# that would flow
from it. By unnecessarily and unnaturally embar
rassing the European ir.oney market and manufac
tures, It stuck downthe exportsof our Southern plan
ters 30 or 40 per cent; it did this as plainly as the sun
affords heat and light? iu addition to all the other
mischiefs ii produced. With this conviction resting
upon my mind, it is true that 1 did not join some o
thers in applauding this Executive triumph over the
legislative authority; or obsequiously estimate the
glories of Executive violence fey the misery and mis
chief it produced. I did not know that " the great
principles of the democratic party" required me to
do this: or to consider one man, the party, and anoth
er man the government. Nor did 1 know that my
constituents required me to lick the hand that plun
dered them?and upplaml'the very measures, that I
know to have taken from their mouths, the bread
which their honest industry has earned. If 1 have
mistaken the great principles of the party in this par
ticular, it is obvious that Iain not a nt representative
for it. I shall therefore return home in a few weeks
and surrender a trust, you say I cannot honorably
hold. 1 have from our friends many written eviden
ces, that they still consider drmorracy to mean tki
viII of the people. But it is enungh for me to know,
sir,that tome of my friends are dissatisfied; and I
wish it understood, that I shall not embarrass them
by being a candidate for re-election. By the kind
ness ol my friend.*, I came into office without trouble
to myxelf ; I intend to go out, without trouble to tkem.
That they can select a successor who trill serve them
wi h more tibilitv, I readily admit; that they can
lect one who will feel n more honest devotion to their
interests, I, with confidence, deny. In conclusion, I
hope you will withdraw your charges of inconsisten
cy and apostacy, or do me the justfee to publish this
letter, with gratitude to yourself and other friends for
past confidence, and regret that yon have with
drawn it.
I am, sir, your friend,
And obedient servant,
John P. King.
kITEMS.
Wn.t.tiM S. Pennington, Esq., of Newark has been
elected Governor of New Jersey for the ensuing
year.
The Detroit Morning Post stale* that Governor
Mason has effected a loan of 85,000,000, for the pur
pose of effecting the improvements projected by the
State Government of Michigan.
Bv a statement of the condition of the State Bank
of lilinois, on the 'id of October inst., it appears the
Treasury of the United Slates has no claim upon
it. The specie on hand, #500,512?circulation,
81,530,180. Few banks are in a better condition.
The Great Tunnel on the Railroad at Harlaem
Heights, has bjeti completed, and on Thursday last,
the Mayor and corporation of New York, with a
large body of citizens passed through it in cars, ac
companied by a bind of music. They afterwards
celebrated the event by a dinner.
An effort is making in Boston to revive the com
pany for the erection of an Exchange. The corpo
ration is organised, and directors afe chosen; and
by the subscription of a stock of 3300,000, the enter
prise can trj successfully prosecuted.
Mr. Smith, a merchant of Rochester, was robbed
of ?9000 between Albiny and Syracuse on Satur
day last?$2000 in gold, $2000 in Michigan (chiefly
Detroit) bills, and 85000 in Safety Fund and Eastern
bills.
The Legislature of Rhode Island convened 30th
ult. at South Kingston.
The U. States f rigate Independence sailed from
Portsmouth, (England,) on the 28th of September,
for Rio Janeiro.
A New Hampshire farmer recently gathered se
venty-two bushels of fair, handsome apples, enough
to make nine barrels of cider, from one tiee, and
harvested twenty-five bushels of wheat from less
than hall an acre of land planted with one bushel of
seed wheat.?Eastern paj>cr.
A Ml'ROEk.?Friday weelr, Mr. James Not!, a re
spectable farmer, residing near Boonsborough, Md.,
was murdered by William Sowders. The murder
er was subsequently arrested.
Murder and Robbery.?An Irish laborer on Pe
tersburg Railroad, was murdered and robbed on
Wednesday evening about 7 o'clock. Three ne
groes were concerned in the deed, which was com
mitted near the Paper Mill, on the bank of the ca
nal leading to Haxull's Mills after which the dead
b idy was thrown into the canal, w here it was found.
The skull of the deceased was horribly broken by
two severe blows, eiiher of which must have pro
duced immediate death. The negroes have been
apprehended, and have confessed the murder.?
Richmond Compiler.
Mr. F. E Monds, of Hartford country, Md., hung
himself in the woods last week, while deranged.?
He was not discovered till several days afier.
The conservative ladles at Hull mustered 800 at
their late tea party and dance.
Thanksgiving.?1-In Massachusetts, Maine, and
Connecticut, Nov. 30th, and New Hampshire, De
cember 7th.
The Governor of Michigan has appointed the 30th
of November, as a day of public Thanksgiving.
The RoniESTua Murder.?Further intelligence
from R>ehe?ter confirms ihc guilt of the three indi
viduals who had b'en arrested on the suspicion of
b.-ing concerneJ iu the niurderof Lj nian. Thedis
coverv of S400 secreted in a pile of wood at the se
sond depot on the Ton a wanda Railroad?wrapped
in a white linen handkerchief belonging to Barron
?led to his confession. He stales that Philwell com
mitted the murder, and that he himself look the mo
ney. *
[ From iht Rochrtlrr Daily Adv. Oct. 26 ]
Bennett is a tailor?Philw ell a boat builder?and
Barron a jeweller. The two first are aged about 21
?the latter 17 or 1&.
Besides the prisoners, various persons were exa
miued; and evidence of an important character was
developed.
It is apparent, from all accounts, that the pris.mers
are dissolute young men?frequenters of gambling
houses, &c.
They were together frequently during the dav
and evening of Monday?meeting at taverns, ball
alley, &c.
Some suspicions movements induced Mr. A. B.
Buckland, one of our merchants who had arrived
from New York but a few minutes before, to cause
these young men to be arretted.
It appears that Barron was apprehensive of arrest
for some cause ; and lheref?*e procured Philwell to
remove his trunk tot he Tonawanda railroad?while
he (Barron) went ahead. The tone and manner in
which Philwell urged the enrtmart to hurry to the
Railroad, caused Mr. Buckland lo take immediate
measures for following them up. With Mr. Sim
mons to assist him, he went over to lhat railroad,
oflVe, and had Philwell arrested. Barron was told
that he would, b*wanted a witness in their case, and
replied lo an inquiry by Simmons that he wa? not
going away ; but he started immediately afler, by an
indirect route, for the Railroad depot?where the
locomotives are kept. He_was followed and ar
rested.
MRS. PAGE'S BOARDING HOUSE, on Penasjl
vnnia Avenue, opposite the Centre Market. Par
sons visitine Washington can lie comfortably entertained
bv the day or week.
"Ort. 5. _ ?___ tflB
AiT aHI.K PROPERTY FOR SALE? Byvirta*
of ;t deed oft rust, executed by Duff Green, and bear
inr dsle ihe tenth dav o( July, in the year eijrhteen hun
dred and twenty-nine, will l?e exposed lo public aale on
Wednesday, the twenty-second dav of No?cml>er next,
the valuable real estate described in (aid deed as liein<
" that two story brick house or tenement on part of lot
numbered mx, (0.) in square numbered three hundred and
sevrntv-aeren, (377.) in the city of WnshingbMi, la-ing the
west bouse of three houses formerly built on said lot by
Charles Cist, dcce*?ed;" "and also Ihe part of said lot
uppertnining lo said house, extendtnc hnck due north
from K street lo n public alley, and a!?o the whole of
lot number (7) in the smd square."
The. tern" of aale will be one-third cash, and the ba
lance in two equal instalments of three and aix mcotha,
with approved security and wn interest from day of aale.
The sale to lake place nntnedialely in front of the pre
mises, on E street, at eleven o'clock in the forenoon of
the davsbove mentioned.
For ill* Bank of the Metropelia :
JOHN P. VAN NESS, President.
Oct V) -2 aw