The Madisonian. [volume], November 17, 1837, Image 1

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

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THOMAS ALLEN.
iditoi ANB rior?i?TO?.
Tul UiDiiovux i? published Triweekly during the
and Sc.,.-weekly during the le
*? -? M
No .uWrip</o? ?? "k?" {?'
month. ; nor ui?I?? p?'d for ?" adrutue.
puck or adv**ti?ino.
Twelve line., or lew. three .nmt.on., - ??
L'ach additional maertion, ? *
Unaer advert.w.m i.u at proportionate r?tM.
A liberal discount made to thuae who advortise by
' ' Il^/'subacribcra .nay remit by mail, i;jbJU?[$[*?
;::,k-'r;rr.tv suS;
has been duly mailed. r ,
V liberal d,.count wUI be made to cou,pamr. of
on .ubicription. generally ; the term, being fulfilled
litters and communication, intended for the esta
blishment will not be received unle.. the pottage if
paid.
prospectus.
Tub Maduoxum will be devoted to the .upport ol
the urincipja* and doctrines of the democratic party, a.
dt'luieatedWMr. MadisOn, and will aim to consummate
that poltliau reform in the theory and practice of the
national government, which ha. been repeatedly indi
cated by the general .ufferage, a. aswutial to the peacc
and prosperity of the country, and to the perfection and
perpetuity of its free in.tttution.. At tin. tune a lingu
lar state of affair, is presented. The commercial in
terests of tbe country are overwhelmed with embarrasa
monetary concern, are unu.u.lly disordered ;
every rain.lication of society U invaded by dl.trea., and
the social edifice teem, threatened with di.orga.iiz.tion;
every car is filled with prediction, of evil and the mur
muring of despondency; the general government is
boldly assailed by a large and respectable portion of the
people, a. the direct cau.e of their difficult.? ; open
resistance to the laws is publicly encouraged, and a
spirit of insubordination is fostered, a. a necessary
defence to the pretended usurpations of the party in
posver; some, from whom better thing, were hoped, are
making the " confusion worse confounded, bv a head
long pursuit of extreme notions and indefinite phantom.,
totally incompatible with a wholesome state of the
country. In the midst of all these difficulties and em
barrassments, it is feared that many of the lea. firm of
the friends of the administration and supporters of
democratic principles are wavering in their confidence,
and beginning, without just cause, to view with distrust
those men lo whom they have been long attached, and
who?e elevation they have laboured to promote from
honest and patriotic motives. Exulting in the anticipa
tion of dismay and confusion amongst the supporters of
the administration as the consequence of these things,
the opposition are consoling themselves with the idea
that Mr. Van Duren's friends, as a national party, are
verging to dissolution ; and they allow no opportunity to
pass unimproved to give eclat to their own doctrines.
They arc, indeed, maturing plans for their own future
government of the country, with seeming confidence of
certain success.
This confidence is increased by tbe fact, that visionary
theories, and an unwise adherence to the plan for an
exclusive metallic currency have unfortunately carried
some beyond the actual and true policy of the govern
ment ; and, by impairing public confidence in the credit
svstcin, 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
secin to indicate the necessity of a new organ at the
seat of government, to be established upon sound prin
ciple., 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 ol it. sup
porters. The necessity also appears of the adoption of
more conservative principles than the conduct of those
seeins to indicate who seek to remedy abusea by de
stroying the institutions with which they are found con
nected. Indeed some measure of contribution is deemed
essential to the enhancement of our own self-respect at
home, and to the promotion of the honor and credit of
the nation abroad.
To meet these indications this undertaking has been
instituted, and it ?? that ?? >?ill the
of inspiring the timid with courage, the desponding with
hope, and the whole country with confidence in the
administration of its government. In this view, this
journal will not seek to lead, or to follow any faction, or
to advocate the views of any particular dclachmcnt of
men. It will aspire to accord a just measure of sup
port to each of the co-ordinate branches of the govern
ment, in the lawful exercise of their constitutional
prerogatives. It will address itself to the understanding,
of men, rather than appeal to any unworthy prejudice,
or evil passions. It will ?>ly invariably upon the prin
ciple, that the strength and security of American insti
tutions depend upon the intelligence and virtue of the
people.
This Madisonian will not, in any event, be made the
instj-ume.it of arraying the north and the south, the east
and the west, in ho.lile attitudes towards each other,
upon any subject of cither general or local interest. It
will reflect only that spirit and those principles of mutual
concession, compromise, and reciprocal good-will, which
so eminently characterized the inception, formation, and
subsequent adoption, by the several States, of the con
stitution of the United States. Moreover, in the same
hallowed spirit that has, at all periods since the adoption
of that sacred instrument, characterized its defence
by the people, our press will hasten to its support at
every emergency that shall arise, from whatever quarter,
and under whatever guise of philanthropy, policy, or
principle, the antagonist jiower may appear.
If, in this responsible undertaking, it shall be our
good fortune to succeed to any degree in promoting the
harmony and prosperity of the country, or in conciliating
jealousies, and allaying the asperities of party warfare,
by demeaning ourself amicably towards all; by indulg
ing personal animosities towards none ; by conducting
ourself in the belief that it is perfectly practicable to
differ with others in matters of principle and of cxpe
ieney, without a mixture of personal unkindness or loss
reciprocal respect; and by "asking nothing that is
not clearly right, and submitting to nothing that is
wrong," then, and not otherwise, will the full measure
its intention be accomplished, and our primary rule
for its guidance be sufficiently observed and satisfied.
This entcrprize has not been undertaken without the
approbation, advisement, and pledged support of many
of the leading and soundest ininds in the ranks of the
dcmocractic 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 as a political organ, and interesting as a journal
of news. Arrangements also have been made to fix the
establishment upon a substantial and permanent basis.
The subscriber, therefore, relies upon the public for so
much of their confidence and encouragement only as the
fidelity of his press to their great national interests shall
prove itself entitled to rcceive.
THOMAS ALLEN.
Washinotox Citv, D. C. July, 1837.
EXCHANGE HOTEL.
THE SUBSCRIBERS, having leased the Exchange
Hotel, (late Page's,) and having fitted it up in first
rate style, will be prepared to receive visiters on MON
DAY the 9th inst. The location of the house, being with
in a few minutes walk of ihe depot of the Baltimore and
Ohio, W'u.slungton and Baltimore, ami Philadelphia Rail
roads, as well as the Stcamlsiat to Philadelphia, Norfolk,
and Charleston, S. O., makes it a desirable place to all
traveller, going to either section of the country. This
HOTELattacned to the Exchange Buildings in this city,
has been erected and furnished at a great cost by the pro
prietor*, and is designed to lie a first rate hotel. It is
the intention of the subacriliers to make it for comfort, re
spectability, Ate., equal to any house in the United
States, 'fhe undersigned flatter themselves that liny
need only promise to all who may patronise the establish
ment, that their (>est efforts shall be exerted to please, and
at charges which they hope will meet their approba
ioni,
JEVVETT & DE BUTTS.
Baltimote, Oct. 7, 1837 . 4 w21
HOUSE FURNISHING GOODS.?We have for
?ale?
50 pieces ingrain carpeting, which we w ill sell low.
50 do Brussels.
02 do 5-4, 6-t, 10-1, and 12-4 Linen Sheetings.
UK) do 7-4, K-4 Barnslv Diapers.
8-4, 10-4 and 20-4 fine Table Cloths.
Napkins to match.
I bale Russia Diaper.
1 bale wide ('rash.
Also, 50 Marseille. Quilts.
a BRADLEY CATLETT.
Se p 9?3tw2w
THE MADISONIAN.
VOL.1. WASHINGTON CITY, FRIDAY, NOVEMBER 17, 1837. NO. 33.
p
FOR SALE, OR BARTER, for property
in the citjr of New York, or lands in Illi
ll?l|L noil, the following valuable property in the
!!zH| villnxeof Oiwmo:
MHjESm Ur The rapid growth of Oswego, it* un
surpassed advantages great prospects, are too well
an,(loo generally known to require a particular doscrip
tion. V
[|7 A very minute description of the property is deem
ed unnecessary us it ia preaumed that purchasers living
at a distance will coiua and aee, before they conclude a
aargatn. Suffice it to My. thai it ia among the very beat
ha the plm v
II r noiw imt tanrts mi ?ne flrrt quality, with a perfectly
near title, and free of incuuibr ace, will be taken in ex
cb
1!_/* L<eueia pom paid, aitdreaaed to the aubacriber, at
Oawugo, will meet with prompt attention. An ample de
scription of the property offered in exchange is requested.
Ik East Oswaoo.?The Eaglo Tavern and Store sd
loining, on First street, with a dwelling house and stables
on Second street, beiag original village lot no. 50, 0t? feet
on First street, running east 200 feet to Second street.
The south half, or original village lot no. 44, being 33
feet on First street, ninningeast '200 feet to Second street,
with the buildings erected thereon.
The north-east corner of First and Seneca (late Tau
rus) streets, being 99 feet on First, and 100 feet on Sene
ca streets, with the buildings erected thereon?comprising
| part of original village lots nos. 41 and 42.
Three lots, each with a dwelling,fronting Second street;
the lots are 22 feet w ide by 100 deep, being part of original
village lot no. 41.
Lot, with dwelling houae, [original village lot no. 26,J
Item* 66 feet on First street, running west about 250 feet,
across the caual into the river, so that it has four fronts.
In Wkst Oiwkoo.?Lot comer of Fifth and Seneca
(late Taurus) streets, opposite the public square, being on
Seueca street 113, and on Fifth street 198 feet, with dwell
ing, coach houso, stabling, and garden. The latter is well
stocked with the best and rarest fruit, ornamental shrub
bery, flowers, iic. _
A lot adjoining the above, being 78 feet on rourth street
by 58 feet in depth.
Six lots on First street, each 22 feet in*\
front, running east 100 feel to Water
street, w ith the buildings thereon. fty Compris
The Wharf and Ware houses on W a- ing the original
ter street, opposite the foregoing, being /village lots no.
132 feet on Water street, and running 3 4
east about 110 feet to the river. [This '
wharf has the deepest water in the inner
harbor.]
I.ot corner of Seneca and Second streets, being 24 feet
on Seneca, and 66 feet on Second streets. Five Lots ad
joining the foregoing to the east, each being 22 feet on
Seneca street, by 66 feet in depth. The abovve being part
of the original village lot no. 36. .
The north half of block no. 63, being 200 feet on I tica
[late Libra] street, by 198 feet on Third and Fourth
streets.
On Van Bukbn Tract.?Lot no. 1, Montcalm street,
oeing 200 feet deep, and running north along Montcalm
street several hundred feet into the Lake. ___
Lots no. 2 and 3, Montcalm street, each 66 by 200 ft.
12 " 13 " ? "
13, 14, and 15,being 345 ft. on Bronson st.
210 on Van Buren st.
300 on Eighth st.
North 3-4ths of lot no. 25, corner of Van Buren
" .id Eighth streets, being 200 feet on Van Buren, apd 148
t eet on Eighth streets.
Lot 82, south-west corner of Cayuga and Eighth streets,
66 by 198 feet.
Lots 83, 84, 85, 86, 87, on Cayuga st. 66 by 198 ft.
88, s. e. corner of Cayuga and Ontario streets, 198
by 104 feet.
89, s. w. corner of do, 198 by 195 ft.
70, on Seneca St., 66 by 198 feet.
58, s. w. corner of Seneca and 8th sts., 66 by 198 ft.
50, n.e. corner of Ontario and Schuyler streets, 198
by 104 feet.
59. on Seneca street, 66 by 198 feet.
75, s e. comer of Seneca and Ontario streets, 198
do. Mljt 130 ??
64, n. e. comer of do. 198 by 104 ft.
40, 47, 48,49, on Schuyler St., 66 by 198 ft.
The incumbrances on the whole of this property do not
exceed sixteen thousand dollars, which may either re
main, or if ilesircd, can be cleared off. ^ bjtrcKI E
Oswego, N. V., Aug. 22. 1837. Jim"
..LUMBER'S BUSINESS.?The subsc.nl.er, from
L Baltimore, takes this method of informing the citixens
,.f Washington and viciuuy, that ho will remain a few Jays,
and make arrangements for undertaking any of the follow
ing kinds of work in his line of business, viz. The erect
ing of Water Closets, Force or Lift Pumps, Baths, hot or
cold, fitted in a superior manner, the conveying of water
from springs to dwellings, awl through the different apart
ments, draining quarries, or any kind of lead work. He
can be seen at dr. Woodward'.. ^
N B?He has with him a few Beer and Cider Pumps,
to be seen as aliove. . , _ _
CLEMENT WOODWARD,
Bcrween 10th and 11th sts., Penn. Avenue.
Oct. 18?23
CHINA, GLASS AND QUEEN'S WARE.
MOSES POTTER,
46 South Charles St., Baltimore,
HAS just received and is now opening, five hundred
and forty pack,of the above description of goods,
adapted for the Southern and Western markets?Con
stantly on hand, English, Iron Stone, and Granite China,
suitable for extensive hotels and steamboats?all of which
will bo sold on as favorable terms as can be bought in any
city in the Union,
Oct. 10. tf22 ,
SAMUEL HEINECKE informs his friends and the
public, that he has taken a room four doors north ol
Doctor (..union's apothecary store, on ninth street, where
he will carry on his business. He ferls confident, from
his long experience in cutting all kinds of garments, that
general satisfaction will be given to such as may favor
hiin with their custom. sep 23 3taw3w
PROPOSALS for publishing a Second Edition of the
Military Laws or tub United Statics, by
George Templeman. The first edition was compiled by
Major Trucinnn Cross, of the United Slates Army, and
published under the sanction of the War Department in
1825. It contains the most important of the resolutions
of the old Congress, relating to the Army, from 1775 to
178'J?the Constitution of the United States, and all the 1
acts and resolutions of Congress relating to the Army and
the Militia, from 1789 to 1824. |
The second edition, now proposed to be published, will
contain all the matter embraced in the first, carefully re
vised, together with all the laws and resolutions of Con
gress, bearing .upon the Army, MHitivand Volunteers,
which hnve been enacted from 1824, down to the close of
the present session. The corrections and additions will
be made by Major Cross, the original compiler.
Officers of the Army and Militia, and others, w ho have
used the first edition of this work, have testified to its
great usefulness.
In a country like ours, where the authority of the law is
paramount, the necessity of such a work.is at all times
manifest; but it is especially so at present when a large
and mixed force of regulars, volunteers, and militia are
called into active service.
The vork will lie of royal octavo size, and w ill be fur
nished to subscribers at $2 50 per copy, bound in law
sheep.
MKS. PAGE'S BOARDING HOUSE, on Pennsyl
vania Avenue, opposite the Centre Market. Per
sons visiting Washington can lie comfortably entertained
by the day or week. * <
Oct. 5. _____
VALUABLE PROPEKTY FOR SALE.?By virtue
of a deed oft rust, executed by Duff Green, and bear
ing date the tenth day of July, in the year eighteen hun
dred and twenty-nine, wtll lie exposed to public sale on
Wednesday, the twenty-second day of November next,
the valuable real estate described in said deed as I icing
" that two story brick house or tenement on part of lot
numbered six, (6.) in square numliered three hundred and
seventy-seven, (377,) in the city of Washington, lieing the
west house of tnrcc houses formerly built on said lot by
Charles Cist, deceased;" "and also the part of said lot
appertaining to said house, extending back due north
from E street to a public alley, and also the whole of
lot number (7) in the said square." ?
The terms of sale will lie one-third cash, and the ba
lance in two equal instalments of three and six months,
with approved security and on interest from day of sale.
The sale to take place immediately in front of the pre
mises, on E street, at eleven o'clock in the forenoon of
the day aliove mentioned.
For the Bank of the Metropolis : ?
JOHN P. VAN NESS, President.
Oct 30?2 aw
Gi LOVE.4riuspiENI) E RS, STOCKS, WOOLLEN
r SHIRTS, AND DRAWERS ?We have to-day
opened?
30 do*. Suspenders, liest kind.
50 do. superior Gloves.
50 do. Stocks, best make.
50 pieces Silk Pocket Handkerchiefs.
50 doxen Gentlemen's Ribbed Woollen Drawers.
50 do. do. do. do. Shirts.
6 do. Raw Silk Shirts.
Al.so,
50 pieces Irish Linens.
' 200 do. Sea Island Cotton Shirtin.s.
BRADLEY At CATLETT.
I Sept. 8. 3taw2w8
A LKTTBK VHOM MR. HMITH,
mkmukk or coNuncaa nom Maine, in vindication
or urn voire *uainst tub mlb-tulasiky bill,
lkttbh iu.
/ o the Editor of the Eastern Argru.
Str?A.? first in im|>ortaiice among the idvinlim
l lhe Fx'bl'c were ussurtd, by ('resident Jackson and
His supporters, of realising from local bank agenciea, was
that ol having the pul lie money continued as much
within the reach of all classes of enterprising citizens,
/orthe benefit of trade," as it ever had been, or ever
could be, under a national bank system of agencies.
' he P'inciple and policy of strengthening and extending
the sinews of commerce and enterprise, and of encou
raging popular induatry, by such a disposition of the
moneys drawn from the pockets of the people, to cart*
on the operat ons of government, as would least abstract
it from the daily uses of the people, were most fully
recognised, adopted, approved, and maintained by Pre
sident Jackson's administration and all its supporters.
1 his was pointed out and boosted of by ua all, as a dis
Linguiahiiig feature of our beneficent government, under
a wise mail s administration, and signally illustrative of
Us identity with the comfort, convenience, and pros
perity of the people. The idea of locking up in stkono
bo**?, or placing an armed sentinel to watch over the
millions of dollars that are requisite to the operations of
the government, from the periods of their collection to
those of their disbuiseinent, ai d the idea of both collect
ing and disbursing these millions in hard coin, and
therefore paying out of the Treasury the identical com
that was paid m, as if all human integrity between the
I citizen and his government had come to an end, so that
i one could no longer be credited out of sight by the
other, or as if government officers were no longer capa
ble of making transfers of public funds by figures and in
writing, but must iu each instaoce have the hard sub
stances """ted out, one by one, to satisfy his compre
hension that all was right and safe, even as might be
expected to have been the case iu the rude days of
human association, before letters or figures were known ;
?such ideas of conducting the financial affairs of the
Rational Government had no place iu the policy of
President Jackson, or of his supporters iu any part of
the Union. On the contrary, it was both his and their
policy, to make the government of this grest nation rest
as lightly and fell as little iu the nature ?f a burthen
upon the enterprising citizen, as the increased liberality
and intelligence of the age would admit. And to this
end it was their united purpose to abstract as little frout
the fiscal means of the people for the purpose, of go
vernment as could possibly be made to answer the ends
ol government, and to permit even that little to be at
the service of the coinmcrce and enterprise of the peo
ple at all times, when not positively needed for the uses
of Government. Need I fortify this well known feature
m the policy of President Jackson ? Then let me recall
to the political reader's mind, tho emphatic aasursnce
ol i resident Jackson in the document to which I have
ad verted before?I mean the memorable paper read to
his cabinet on the 18th of Sept, 1833, relative to his
new disposition of the public funds among the State
Hanks, in preference to the U. S. Bank.
' ^',e fund? ?f 'he government," said he, " will not
be annihilated. They will immediately bo issued for
THE bbneht ok traiib. And if tfco Bank of the United
Mates curtails its loans, the State Banks,STRENGTH
ENED BY THE PUBLIC DEP08ITES, trill extend
theirs. VV hat comes in through one bank, will go out
through others, and the equilibrium will be preserved."
Following up this policy, President Jackson, through
his Secretary of the Treasury, in a letter addreased to
iooJ [ B*nlt Philadelphia, on tho 18th Sent
1833, thus enjoined it as the duty of local bank deposi
tories : '
, " lhe,d^?Ai.tf.8.of the Public moneV will enable you
to afford INCREASED FACILITIES TO COYf
MERCE, AND EXTEND YOUR ACCOM MOD A
TIONS TO INDIVIDUALS. And asT dut^
which are payable to tho government arise from the
business and enterprise of the merchants engaged in
foreign trade, it is but rtasoneble that they should be
preferred in the additional accommodation which the
public deposttes will enable your institution to give."
.Similar instructions were given to the other deposite
banks, to lend tho tnonev to the people. Thus in a
.'??/ 1? o 6 Plan,8,r?' y,ank- ?? Natchez, of Oct. 9,
1833, the Secretary. Mr. Taney, said :
" The deposites of the public mouey will enable you
to afford increased facilities to the commercial and
other classes of the community ; and the Department
anticipates from you the adoption of such a course
respecting your accommodations, as will prove accepta
ble to the people and safe to the Government."
In his message of December, 1833, the President
thus spoke of the good effects of this liberal policy to
wards the people, in regard to the use of the public
money;
" I am happy to hear that, through the good sense of
our people, the effort [of the U. S. Bank J to get up a
panic has hitherto failed, and that through the increased
accommodations which the Stale Ranks have been ena
bled to afford, no distress has followed the exertions of
the bank."
In a speech of Mr. Polk, on the 19th Feb , 1835, this
policy was thus triumphantly eulogised :
" The country, then, has been prosperous; but she is
indebted for that prosperity neither to the Bank of the
United States, nor to panic; but to the new impulses
springing out of the employment of State Banks, as
fiscal agents of the Government."
The argument of Mr Polk, on tho 30th of December,
1833, in the House of Representatives, and the justness
ol which all republicans in the House assented to and
indicated by votes and speeches, was this :
"If the State banks had, as they probably wouldfliave
done but for the transfer of the deposites, curtailed their
discounts in the same proportion with the Bank of the
United States, the whole curtailment in the four months
[Irom Aug. 1 to Dec. 1, 1833.] would not have fallen
much short of nineteen millions of dollars. Tho Go
vernment deposites in the State banks, however, hare
enabled them, pro tento [to that extent] to mitigate the
pressure." '
Again h? says:
" What is the effect of the transfer of the deposites ?
Why, you do diminish to a certain extent, the ability of
the defiosito banks ; but at the same timo that you do
it, you enhance the ability of a bank across the street to
case the pressure."
In fact, it was made a matter of exultation and boast
ing, as well by tho President of tho United States, and
by his sustainers, as by the administration orators in
Congress, and by all republicans and republican press
es out of Congress, that tho local banks could bo made
to outstrip the National Bank itself in its business ope
rations, and accommodations to the people, by the pow
erful aids extended to them by the government depo
sites. In the special report of the Secretary of tho
Treasury to Congress, in Decumbcr, 1834, it is exult
ingly said :
" This Department has evidence, in the returns on its
files, that only three of the selected banks in the West
and Southwest were performing a business in domestic
exchanges, early in September last, of nearly a million
more than all the seven branches of the if. S. Bank,
situated in that quarter of the country,"
In the speech of tho Chairman of the Ways and Means
on the 10th of Feb., 1835, this same feature in the ope
rations of the local bank system is most triumphantly
urged upon the attention of Congress and the .country.
And who is there note in the republican ranks, who then
called himself a republican, does not recollect well what
a hearty response he gave to this alleged characteristic
of tho then administration policy, bv which the p iblic
money was l?eing made as useful to coinmcrce, enter
prise and industry throughout the country, as it ever had
been while the national bank system had charge of the
public funds 1 We planted ourselves as a party upon
this lofty eminence, and defied our enemies to gainsay
us. Whose feelings would not have then revolted, even
against Jacksonism itself, popular and beloved as that
was and may atill be when consistent with itself, had
the purpose been avowed of abstracting ten milliona
of public funds from the moneyed necessities of the na
tion, at the time of the removal of tho deposites from
the U. S. Bank, and of locking them up in strong
boxes, after the proposed fashion of the Sub-Treasury
bill, instead of depositing them with other banking in
stitutions, where they could, to use Jackson's own
language already cited, " be issued for the benefit of
trade." No party would havo stood by such a policy,
It was proposed in 1834, in opposition Jackson's policy.
1 and triumphantly voted down, as has been shown in my
first letter. Hail auch a policy then been avowed by
President Jackson, instead of his Virginia opponents, I
i hazard nothing in saying, that such a removal of the
i depositts would not have been sanctioned by Congress,
nor sustained by the people. Far different was the policy
| then avowed. Far different the policy that my coadju
tort in the republican ciuh, then advocated and sue
tainod. Wc sustained the position and advocated the
doctrine, that our oi>po*ilioii to a n*ttonal hank was not to
operate to render tnc public moneys one iota leas useful
lo, and buay in, the aid of the commerce, enterprise, and
labor of the country. In tho language of Jackaon, we
confronted our adveraariea with the aaaurance, " jhat
the funds of the government will not be annihilated by
our policy. " They unll be immediately issued for the ?
benefit of trade." And if the Bank of the United States
curtail ita loans, the State banks, strenflhtued by ike
public depositee, will extend theira. W hat come. in
through one bank will bo out by otliers, and the equi
librium will be preserved." I waa sincere, I was honest
in maintaining auch a position then, and ever since, and
I am not yet prepared lo tread back and abandon it
for an experiment which all republicans then repudiated
aa " less responsible, safe, convenient, and economical
What a departure from this liberal and patriotic poli
cy, ia the doctrine of the Sub-Treasury system . By
which the nnlliona taken from the people for the (jo
vcrnment's use, ia to be taken in gold and ailvt* only,
and kept locked up in idleness, anu " annihilated until
the Government's creditora are entitled to rescue it
I'rotn banishment. And this heavy penalty la to be in
flicted upon tho commerce, enterprise- and industry of
the country, becauae the same calamity which ha* hap
pened to all the reat of the world *beside. and alike to in
dividuals and corporations (at least on this aide of the i
Atlantic, and to many every where,) has happened,
temporarily, to the depoaite banka?-in ? suspension ol
specie payments! a calamity which it was known when ?
they were adopted, had twice before happened to this .
same class of agents ; but a calamity, after all, which |
neither the Preaident, his Secretary, or any intel'igciit
man pretenda will probably result in the lose of a single |
dollar to tho Government. A calamity, in fact, which j
tho lioverniuent'a own policy?our republican parly s j
oven policy, of urging and requiring theae institutions to
make the moat lilieral loana of the public funds " for the
benefit of trade," as written out in buih President
Jackson's and Secretary Taney's own cited docu
ments, has been moat powerfully inatruinental in bring
ing about. I say it not to reproach myaelf or others,
but to say that while the caae ia our own, let us re
form and not deatroy our syatcm. Is it to be recorded,
that the people of this nation, or of thia Congressional
district, are so little capable of forbearance in regard to the
political calamities that press upon them, as not to inquire
whose, and what policy has induced those calamities?
Or that they are possessed of so little discrimination
and judgment as not to have an opinion of their own, as
to how far the local banks, that arc to be con le.nned
and cast off by the Sub-Treaaury bill if adopted, have
been but agents in the hands of Government and of the
people in bringing about the present state of things, and
how far they have acted as principals in the affair .
Will not republicans theinaelves pause and inquire with
me in candor, as well as from a aenso of justice to these
institutions, whether the very agency we have imposed
upon them has not been pushed too far at our request,
and whether fro.n this cause the present diseased crisis
in our favorite system of local bank agencics does not
owe much of its'severity! If ao. ought we not to in
quire. whether prndcnce may not restore it seasonably
to ita desired usefulness, before resolving to cast it oft
for ever, and "fly to ?? know ?f] lf lh.c, ***'
ton itself be all that we promised or had promised to us
bv Jackson, Van Buren, Tansy, Benton, W right,
Poik Paiton, Cambreleno and other recognised
i iminaries OF DEMOCRACY, and has become deranged
from our own abuse of it-from our having pushed it not,
designedly but imprudently, too far in Ha ,nfancyj. j
,o ind wisdom as well as due regard to the welfare of |
the people require us to blame and correct ourselves in
the use of the system, instead of exchanging it for one
that comes up discredited out of our mouths, .???. re
sponsible, safe, convenient and economical. Such all
experiment, if experiment must be the continued watch
word of the times, would seem most worthy of us all.
who have ao atrongly pledged ourselves by and by
deed for four years past for the success of this effort to
dispense with a National Bank. It would have been
well if we all?who claim an interest in the succesa of
the present national administration?could have been
influenced by as ardent an adherence in practice, as wc
have been by a aincerity in profession, to the policy and
assurances laid down in the celebrated letter of Mr V an
Buren to Hon. Sberrod William*, which I have once or
twice before had occasion to allude to, by way of au
thoriiv, not to be disputed, for the po.t.o.1 in which I
have stood and in irhich 1 noic stand?whether it be a
repuUicau position now, as formerly, or not I lie doc
trines of that letter are peculiarly appropriate to what 1
am now contending for, in my opposition to the new ex
periment upon Ihe finances of tlie nation. Let the
reader, who desires either lobe himself the same sort of
republican to-day, that he was a few days since say
o.ilv h August last, 1836, when the letter cited was
written ; and also the reader who is curious to compare
the difference between the republicanism of Angus) last,
and that republicanism which I am now accuaed of de
serting when I protest against the adoption of the Sob
Treamiry scheme, mark well the following injunctions of
Mr Van Buren's letter to Sherrod W tlliains:
..Tae passage of tho depoaite bill [now to be sup
plan,ed by the Sub-Treasury hiU,] w,U^*0 be rewrded
BY Til* PEOPLE ** A lsL|l\r SYSTEM
TIES TO GIVE THE EMM NG S\SI EM
Which excludes the idea of a National Bank, A FAIR
TRIAL."
Ag?in:
.. So rational plan for the regulation of the fiscal
affairs of the country, can fa,I to succeed, if the mass
of our industrious and enterprising population, without
resiarJ to local, sectional or political distinctions are
oi generally desirous for its auc"*8 TO REM XR
them that things are in this respect TO KLMAN
STABLE and it is not in the nature of things posmble
that thev can refuse their aid and support to that wh.ch
concerns them so nearly, and upon wU thnr prospers
ty, private as well as public, t* ? essentially depen
dant.''
Who could have defined the grou-.d upon which re
publicans stood, no longer ago than August last, in
're significant and graphic language than did Mr. \ an
Buren in the above letter < Who was better authorized
m define it for the republican party than himself.
"a, b "tm authorized to tel.- Pf'
tv in relation lo iM /?""'? ?"* T,
Lb,ret? Who, more than him, was expected to re
.tnhlr' in the support and defence of the local
S a?n" J. ?Eh ?Et.ted ~h a ^ninei.t <?
in e in the policy and system of his " illustrious prede
cessor," to whose policy and system of administering
i tTair* of the nation ho bo unw|uivociIly pledged
hf. ii van Jural ,oe?.fe I Via. the loe.l bank
system had the "fair trial" of which he apoko ii? Au
IZT If it be true, that the nature of the agency im
..<1 nnon them bv tho sdmiuiatration and party that
S$J&?lZ giving -7-d f.ctoy to -dc .^d
commerce by discounts upon the strength of the public
depositee) was stretched to an unintentional abuse at
the request of ita foster parents, and embarrassment ha
ensued in consequence thereof, this cannot surely be
said to be " a fai? trial" of tho ayatem, by the adminis
tration. I so reasoned, and hence I could not abandon
it for a " less responsible" experiment. ,
I have shown from under President " 0"'j
hand, as well as from under the hand of Mr I aneya. d
others that, to effect increased lo?,s for the benefit of
trade and industry upon the at.cngth of the
posites. was a part of the local tank system adopted by
K late rfo.Jatr.tion And ,t ...
policy that commended it to tho people as a substitute
f?rNoNjusTmInU therefore, can deny, that to the extent
of this policy, the administration, and not the banks
alone, should feel itself accountable for the??
barrasamenU of the banks, I mean ao as to feel an o^ I
cation to palliate those embarrassments as far asipracti
cable, instead of starting o(T upon s new
not but enfeeble the banka still more To excite pub
he pre.ud.ee againat them-to add to that distma o
them in the public mind wh.ch it has been the par of
the advocate, of a Nat.onal Bank to ere. e
means in their power. ^or^'?!H'ZfZZs would
lion of the republican party for the last fi y .
seem to l>e the last policy that might reason, ly be an
ticipnted from a quarter atandmg ... that region to ^h
local banks wh.ch the frienda and party of the ?
present sdministratiooa notoriously have au.lained.
tvery well-informed man knows, that public confultnce
,9 . broader and firmer basis than specie itself, for ?
bsnking in.titution to jKWstsa in our own or any other ,
country. As I me.n to sdvsnce no position iHnatra- |
tive of that one which I myself continue to '?r j
which I have not the most pointed authority ol an ac
knowledged 'repuUican in |K?litica, (that every on y
judge for himself whether it is myself or others that ha
deserted - the good old republican track.") will cite
what must be rrgatdrd aa repnblK-an authority for
position also. In a letter acnt by Mr. Secretary 1 aney,
daled April 22, 1834, we have the worth of S'cm
fidence to banking institutions thus lucidly expressed
circulate and answer all the purpose. 0f money But
the moment that confidence la impaired, they uL their
value aa a part of the circulating medium, and are re
turned upon the bank. for redemption in apec.e ; and
the di.projwrtion between the paper circulation and the
com prepared to redeem it, ia so great, that it ia con
stantly liable to have its chief support?public con/.
dctKc?withdrawn from it." * A
Mr. Cambreleng, in hia apeech, January 14th, 1834
^1?! 1,46 *?"*?.- .hi explicit on'
" Out the credit of the bank doc. not depend upon
Ike amount of thttr specie , ,f it aid, every bank in
would"} T ' 8cotUnd- and the United .States,
Mvmenta t'KU ^r'"?"e'"ly a".pended the,;
L..j ,U-t ^,C depend. upon public conn
...s? rrtsc
wSa.rf*^2s!? ">?
lh,erefo1re' ful|y understood by the admin
" 10 thu fr"' ar,d delicate na
Iww could'T ,n,V'U['?n" " ,U l""? of ,h?" adoption,
how could 1 avoid the conviction tlwit at a period of
preaaur* and calamity upon them audi aa reclmtly oc
curred, it was the moat imperioua obligation of the ad
ministration, if it could do nothing to strengthen p?il,c
Zc^TM" u"' \? rt'fn"" "'"diously from
?Uch a policy a. would either tend to de.troy or weaken
the YuA/V L othw. "????. could any man view
he Sub-lr asury schane, which utteily repudiates all
Stni-T"1"lhe,r prr' 'iid?(SK!!
constant runs for specie to liquidate the government's
light than a declaration of an exterminating war ui?on
them, and ,t the most perilous period of their existence,
the Si I T COU Th uy. "l"? co,n"*<"d tho adoption of
lXoZ:7J\ ' !'ld "Wrd "'<? !*'"* -hen
it was brought forward a. tl* mo.t impolitic one that
could have been hit upon for it, regarding the public
welfare and the importance of those institutions to the
Even if ,?,e government had not stood in the relation
of a putative parent to a jwrtion, at least, of the embar
rassment of tho local banks, from having enjoined
?[H*i them increased loans upon the strength of the pub
: it would have been only consistent with
what has been the practice and policy of many past ad
ministrations, if not all towards the local banks, for it
to have extended to their embarrassment# the utmost
relief in its power?and this relief, as we have seen in
he shape of public confidence would have been as effec
bankVhTv"" C0"f8? 1,0 rnore tha" Ibese
banks have a right to expect, and even demand of the
administration, from the doctrines laid down by the ad
ministration itself, as being the true political theory for
?uch an emergency. And that there may be no mi.ap
prehension that I am in error on this point, let me carfy
0 re*dcr'^rk.|P wllat wa? 8a|d by President Jackson's
Secretary (Mr. 1aney) to Congress, on the removal of
.wo 1^"'te# l,? '? rejiort of Dec. 30,
1833, ho cited Mr. Crawford, while Secretary of the
1 rcasury, to the following eDect
" In a postscript to his (Mr Crawford's) letter to the
President of the Mechanics' Bank of New York dated
February 13th 1817, he say.-" The Secretary 'of the
! rea.ury will always be disposed to sup,H>rt the credit
Of the State Banks, and will invariably direct transfers
from the defiosites of the |miL4ic money, in aid of their
legitimate exertions to maintain their credit "
Mr. Taney adds to this as follows?" Other passages
in the correspondence of Mr. Crawford with the banks
about the period above mentioned, might be referred to'
equally indicating the same opinion ; and at that day no
doubt seems to have been entertained of the power or
of the duty of the Secretary in relation to this subject."
*r .l *o " In the passage quoted, the superior safety
of the State banks ia by no moans regarded as neceisa
ry to give him (the Secretary) this right to make the
transfer to them ; for ho declares that he will give the
deposites to the State banks on account of their weak
ness. J
In the same report, Mr Taney cite. Mr. Crawford in
cases where he gave local banks the keeping of the pub
lic money, in 1817, " to induce the Stale Banks to re
sume spec ic payment.." How opposite to the policy of
the Sub- rreasury bill towards them at this day ! i
might go on ami cite Mr. Taney to the same point for
many pages?but I have only .pace here to refer the
reader to the report I have mentioned for all he can re
quire If he will turn to Mr. Polk', speech in the House
made on the 30th December, 1833, he will find thesamo
policy, principle and practice of the government elabo
rately maintained by appeals to numerous instances in
the history of the government. President Jackson him
self in hi. before named Cabinet paper of Sept. 18ih
. ' a?c"cd with approbation, as a pait of hi. own
policy, that the Secretary of the Treasury did " m seve
ral instances transfer the public 'deposites to State
Banks, in tho immediate vicinity of branches of the [J
S. Bank for reasons connected only with the safety of
those bunks, the public convenience, and the interests of
the I reasury;" and quoted Mr. Crawford as precedent
that the Treasury ? ALWAYS WILL" do this. But
the policy now attempted to be fastened upon the coun
try by the Sub-Treasury bill is, to abandon entirely to us
fate the paper currency of the country, and to set the
wholtf mighty influence of the national government
against its use. I was not prepared for such a sudden
turu m the policy of the national administration, and I
am yet to be convinced tbat it is judicious or for the wel
fare of any class or order of our countrymen
It was a part of the policy of the local bank system
when adopted, to reform, by the incidental influence of
national legislation, the paper currency of the country,
by inducing the States to suppress small bills, and thus
increase the specie basis. Our doctrine was, that the
people of the States, through their respective Legisla
tures will aid us in it. In his message of Dec. 1835,
President Jackson .said?"The attainment of such a
result will form an era in the history of our country
which will be dwelt upon with delight by every true
friend of us liberty and independence." Mr Van l)u
rcn in his letter to Sherrod Williams, exults in this fea
ture of the national administration, and tells how much
benefit it has done and is doing. He says, " nor have
the States lagged behind in their efforts to improve the
currency by infusing into it a greater proportion of the
precious metals." He then enumerate* thirteen of the
States that bad already embarked in this reform, under
tho lead of the national administration. But who does
not see that the Sub-Treasury bill is a total abandon
ment of this wise and boasted policy of reform in our
paper currency, and of tho States that have thus been
induced to enter upon it in good faith! I have not
space to quote how much importance was attached to
this reform by tho republican party every where, and in
the messages and speeches of the administration. But
let any man turn to what was said by all of us who pro
fessed to be republicans and laboring for the benefit of
thk people under Jackson, and then withhold his asto
nishment if he can, that we can bo brought so suddenly
by any earthly influence, to abandon the whole rffort to
the winds.
When we adopted the local bank system, another
position that we look was that it would diminish the
power of the Executive branch of the government, by
rendering a concentration of its moneyed influence next
to imptacticaltle?an end for which ail true republican,
rule to establish in every government. "Severed from
the government a. political engines," said President
Jackson in hi. message of Dec. 1835, snd not suscepti
ble of dangerous exten.ion and combination, the State
bank, will not be tempted, nor will they have the power
which we have ?een exercised, to direct the public
funds from the legitimate purpose of government." In
his preceding message (1834) he said of them?" being
freed from Executive influence, and without a common
head todirect their operation, they would have neither
the temptation nor the ability to interfere in the political
conflicts of the country."
i ' ,'Wt. q"?'0 pa,fM of wh,t urged in favor of the
local H system on this point, by my political friends
in and-Pn of Congress ; but time and .pace both pre
vent me, snd the notoriety of tho fact a|M render, it
.unnecessary. I yielded to theju.tne.s of the argument
at the time it was democracy then ; and I adhere to it
still, as no le?. sou.td democracy note. And yet, this
advantage in favor of liberty, and against Executive
power, must be abandoned utterly by me, and my party,
were I or they to accede to the Sub-Treasury agency
bill, predicated as it is upon a multiplication of Execu
tive officers, all dependent upon Executive will.
"I he captivating feature of tho Sub-Treasury scheme
?t first blush, consist, in its proposition to collect and
di.burte all this public revenue in gold and silver alone
?the " constitutional currency." But why the govern
mrnt should receive in iu duea a greater proportion at
coin and a leas proportion of paper currency, than (he
respective Slate government a receive iu tbeir dues, or a
greater proportion than our people ara enabled from I he
condition of the country to receive from each other in
their mutual dealings, I am at ? loaa to comprehend.
Let the government be treated as well aa the people
treat each otlier, and the jieople be treated aa well ae
they treat the govemmeut, in relation to all money af
faira. A currency that la good enough for the people, m
good enough for the government Ihe idea ol having
a purely metallic currency for either the government or
the proule is not the policy thai waa avowed by Jack
aon's administration, nor la H euher desirable, if feasi
ble, or leaaible if desirable. Aa t* what ie the beat
kind of currency, we have an eiplicit opinion in a report
of the same high authority, to which all of ua ?# the ad
ininiatraiion parly, including Jackson and Taney, aa wa
have aeen, ?o frequently referred to in illustration of our
common views upon the subject, when wc were urging
the currency reform I mean Mr. Crawford, as Secre
tary of the Treasury. In a report of hia made July 12,
1820, to the House, and reprinted by order of ihe House
Jan. 14, 1834, he aave?
"There can be no doubt, thai a metallic currency
CONNECTED WITH A PAPEll CIRCULATION, CONVKKTIBI.E
into specie, and not exceeding the demand for
facile transmission of money, is the most convenient
thai can be devised."
So I thought under all of Jackson's administra
tion?so all his supporters in and out of Congress
maintained during tne same period. And this was
l the extent of our proposed reform in the currency.
We thought this much to be feasible, in time. My
I oflcnce now is, that ! am of the same opinion UUlt
and that I still maintain, that the whole influence or
ihe national legislation should be brought to bear in
i support of the old policy of obtaining the requisite
proportions of " paper circulation convertible into
specie," from our local banking institutions. So the
republican convention at Gray, in this County, in
August last, must have also reasoned, when they
resolved to have "specie or its equivalent.' ini pay
ment of the public dues. The republicans of Cum
berland hadNiot then frtrayed in search of strange
sods nor of a purely vietallic turreney, even for tne
purposes of the Government. X they have done so
since, I am yet to be informed of it lroin other
sources than have attempted to a*ert it.
1 am a coovert to the opinion, that the attempt oi
the Sub-Treasury bill to collect and disburse the
public revenue in gold and si.ver alone, is in its
nature a proposition that will provide one sort ot
currency lor the Government, and another sort tor
the people. And I will put an illustration of this
truth? such as will enable every one of rny con
stituents to test it for himself. Suppose the Govern
ment makes a law, that it will neither take nor pay
out in any of its operations, any currency but gold
and silver This 'then, establishes o.e currency,
merely, lor the Government, and excladeaa l others.
Can an individualdo the samelI He last*1*8?
right to do the same, most undoubtedly. But can he do
it, in the nature of things as they exist and must"'bt
in our land, where enterprise exceeds fourioldthe
capital of the countrv, and is therefore, of necessity
sustained only by adding credit?a paper currency r
to the power of capital.?Let any individual, mer
chant, mechanic, farmer, lawyer or day laborer
among mv constituents, try the experiment. Let 1
divest himself of all paper currency, and arm him
self only with coin, and at the commencement ot
anv dav' or week imitate his Government in making
the declaration, "I will neither pay out nor receive
in any but specie currency, in my intercourse w ?n
my fellow citizens." How long can hepersist in
this policy I My opinion is, that from the utter in
ability oi' ninety-nine in every hundred cltizej"
around him to reciprocate the same payments, ne
would find that he would neither buy nor sell enough
to obtaiu his dinner one day in seven. If a farmer,
he could not sell his produce. If a day laborer, he
could not hire out a day, upon such ternw?It would
be impracticable for people to deal with each other
upon those terms, at tlfiis day, without immense sac
rifices. To bring, about such a state of things a
long course of stability in the legislation of both
the National Government awl pi the States, such as
was entered, upon by Jackson's administrate!, to
gradually dispense with small bills, and through the
co-operation of the local bank system would be
reuuisite. It is a condition that the nation cannot
be jumped into at once, and much less at a Perie?
universal suspension of specie payments by banks. And
if this be impracticable for the people, even upon a
small scale, and if the people cannot maintain
themselves in taking the same position as the Go
vernment would, in discarding ^{currency but coin,
even upon a small scalc, then to my hund it is estab
lished, that such a position taken by 'he Govern
ment makes one currency for itself, and leaves the
people with a different and inienor currency for
themselves. And not only this, but the inconve
nience and loss of doing this upon a small scale,
will tell every man how difficult and onerous
must be the relation between Government and its
debtors, acting on this policy upon a large scate!
What single town in my district could do thu, at
this early day of our Jackson policy of dispensing
wiih small bills and adding to our specie circulation,
what town could do this, even in conducting its
municipal afliiirs with its own citizens 1 Let any
town attempt it, and learn the cost, ".convenience,
and inutility ot it at this early day, and then judge
what must be the ponderous and insuperable objec
tions of such a system, when attempted to be en
forced upon the broad scale of National Revenue,
wherein millions are to be paid and repaid. Th
" salaried olticers of Government, whose privilege it
teU) receive money of, and not to pay money ro the
Government, would derive an immediate benefit
from it. Members of Congress who recently took
their pay in gold and silver, realised the immediate
benefit of it Those who supported the Sub-Trea
sury bill honestly wished this benefit to be universal
I doubt not. But I do not believe that ihere was one
. of that honorable body who was so paid mho .could
resist the conviction at the moment, that Govern
ment was doing by him, what his constituents could
not do by each other for tirenty years to cowe; that
Government was dealing in one currency, ^hile hi?
constituents at home were unavoidably dealing with
each other in a very dirterent and inferior cH.rr?nc/'
And this was to all, a practical illustration of the fa
voritism ot the exclusive hard currency system ol the
Sub-Treasury bill, and of its operation in placing
the Government and its officers above the pkopl?,
and above the people's clkhbncy. TIil Govern
ment's hard coin only persuaded me more firmly, of
the DNmeasurable distance that such a bill would
" divorce" the Government from the people, as well
as from the banking institutions ol the people. I
knew, I saw, I fell, I lamented, the weight of respon
sibility which I must encounter, in thus firml) abid
ing bythe dictates of my own judgment reason
unon this matter, against the weight ol the powers
that be " towards whom I entertain the most lriendly
feeline and wishes. But I looked to my own heart,
and to the practical interests and welfare ol "J??*1"
1 stituents at home, as I understood them and 11 could
i not be lalse to the one, or risk the other to the dis
posal of the representatives of oiher people. I -
{icve the measure in question to be }n}politic and
pregnant with elements that would not fail to bring
Kin upon the hopes of all who have heretofore
desire/to fortify the people against the neeessity of
a national bank, bv fortifying and improving the
currency of local brinks. \ believe that it would not
onlv tend to discourage the early resumption of
specie payments by the banks, but utterly disable
iliem from sustaining specie payments if once
commenced. Without the bill, 1 had the most con
fident hopes that before the close of the next regu
lar session of Congress, all the sound banks of the
country would resume specie payments?that com
merce enterprise, industry, through all its famifica
lions would resume their wonted and healthy c?ndi
t on of prosperity. Without the bill, 1 believe that
the hostility of State Banks and of State l"s,,'utl""5
towards the National Administration and our Na
tional institutions would be averted, ^ad ofpro
vnked ? and that we should resume our Jackson
nolicy 'of bringing National legislation into a happy
ESSSuSof :Sh
Jackson said would constitute "an wa upon whicn
ilSdtok wtoh " Tc?''<Z?uJr
Kk WffiS1' c?"
JndThe" reJd 'he character, for fidelity,
^^dnromptitode which he still was bound u>
a ward to State ^nsiitutions, 1 was still more at a loss
SStiS wisdom of that policy which would dis
SrtibS in .he
I summary manner proposed b> h ? fhc Se
j Let every man read, and judge for himstH. h ne ae
cretary says:
? It afTords the undersigned pleasure
the completion of their selection after the
n..?<( to the last return* before their suspension, a
E il 'n the circulation as well a. the dia
counta of many of them had taken place, and in seve
ral case* a much larger proportion e*ec>?
nn h, T Indeed, considering the exUaoed.nary amount
???X monev p..d on, bvXm b*ween U;tNov?
|J and May, amounting to near twenty m,lw ^ ^
than their receipt. during the ^ lb?
highly creditablc to their prudent* and sbUity,