Staunton spectator. [volume] (Staunton, Va.) 182?-183?, 1832-05-04

but they must be good, sound, thoroughgo-
ing, orthodox republicans" whatever the
test or standard republicanism may chance
to be-for the time being. They must be
stamped ''genuine" in particular quarter,
which will not stop now 10 designate.
These republican" commissioners take
good care, of course, that the stock Of the
new bank does not get into bad hands and
the Farmers and Mechanics Bank of AL
bany, which my honorable colleague (Mr
Koot) has not appropriately denominated
the "mother bank" comes in for goodly
share, as brood of country banks, and
particularly the Broome county bank can
testify. There is now about twenty millions
OF bank capital under this safety fund sys-
TEN, with the power Of issuing forty millions
of paper currency, and discounting TO the
amount of fifty millions.
Now, sir, approve of the fundamental
principles OF the Safety fund system should
like 1t much better, if the people-the Dor
rowers-did not have TO pay the whole eX-
penses of maintaining it, and this high pre-
MUM for instance, by being compelled TO
pay z, instead Of pre- cent. upon all loans
and better still, if it were not made, as it is
easy to perceiveit may be, most powerful
political machine in the hands of party.
The present bank commissioners are men of
intelligence and integrity, but they are party
men, governed by party principles, and
mingling in party warfare. And by the
way, sir, my colleague near me Cdr. Cam
breleng), has inquired what has become of
the old federal party? The leaders are prin-
cipally provided for He will recognize at
least one of them, among these very bank
commissioners-ior ''the party pay very
promptly with US, and the new converts,
1 n rHyifh -, 10
republican vineyard, although coming in at
the eleventh hour, receive q every man his
penny"
1t will be manifested, sir, that under such
a system, this combined moneyed influence
will necessarily diffuse itself, more or less,
into every department of the government
ana, without intending any possible disTe-
spect 10 the legislature, no man can shut his
eyes TO the fact, that with personal and polit-
lcal friends about them, in the CITY and
country, who are presidents, and cashiers.
and directors, and attorneys, and stockholders
In our own local banks, who have a common
interest IN excluding the competition of an
institution restricted 10 six per cent, and
leglslatlng as they do, in the very centre Of
this moneyed power at Albany, il must
have some influence in their action upon this
particular subject. But, sir, there is super
added TO this, the force and influence of par
| ty discipline, which has been brought TO
bear upon this legiSlature-a power, rigid,
absolute, deSpotiC, and controlling land which
requires of all, that they should 90 with their
party, Fright or wrong''-a complete sys-
tenn ofpassive obedience and non-resislance
There is still another influence, equally po-
lent, which was dexterousiy applied in !his
case-and that is the force of" public opin-
ION" do not mean, sir, the opinions of
citizens examining the subject. and in hon
est sincerity forming unbiased opinions for
themselves. No, sir, | mean the " public
opinion " manufactured 10y interested politi-
Cal managers, and constituting part and no
inconsiderable part, of their machinery
which, perhaps, the house may be curious
TO understand. We have, sir, only ONE real
genuine, orthodox, g republican - paper in
the state, and that is the state paper at Alba
ny. We look TO the columns of the Argus
TO know from day TO day what is republican.
| Whatever opinion is TO be found there, upon
men or measures, pro or con, is, for the day
rePublicanism--pure, genuine, unadultera-
ted EepuDllcaniSm. The party have
neither the trouble nor responsibility ofiorm-
ing opinions for themselves The " public
opinion is supplied after this wise An
article, expressing the desired opinion, is
sent by the manufacturers to branch repub
lican paper, say at Lockport, another to
Utica, another to CooperstOwn, another TO
OlC Chenango," and so of other places,
and these appearing, without apparent con-
cert, are carefully transferred and collected
IN the Albany Argus, under the imposing
title OF public opinion" and thus, while
the adroit managers seem TO follow, they
are, in truth, controlling, and are the manu-
lecturers OF public opinion" Now, sir,
respect the opinions of a party majority in
| the Legislature of the state OF New York
just so much as II is proper or possible TO
| respect the opinions Of just SO many respeCta-
bic men, acting under the combined inlu-
ence OF this local bank power, the discipline
OF party land this delusion about the " public
| opinion" At the same time, wish TO be
understood, as in all similar cases, must
act according 10 the dictates of nv own
Judgment. do not derive my power from
that honorable body, nor am responsible TO
them am only responsible to my own i'm
mediate constituents, and ] am willing TO
abide by their judgment in this, and upon
other matters, where / shall be called upon
TO act
Sir, il is not perhaps 10 be wondered at
that my honorable colleagues feel a LITTLE
sensitive upon the subject of New York
politics. We all do and while some com
plain of unfounded calumnics and SANDERS
Of all sorts, j confess, for one, that think
nothing is more provoking or unpalatabIe
than the truth, upon points where one feelsa
little vulnerable. | very much admired
therefore, the tact Of my honorable colleague
over the way (Mr. Angel, upon this point.
Like skilful and praciised advocate, he
touched lightly-very lightly-upon the