Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1832-07-24
THE vETo-AND THE PRESIDENT

L.
We have not seen this trumped up Document any
where more happily described than in the Frede
rick Herald. The Editor says
''rhe first popularity in this state paper, which
will strike the sagaeious reader is the manifest and
constant effort displayed in every sentence to mi.
mister TO the most unworthy popular prejudices
The artifice OF the demagogue IS exhibited in every
line, but In disguise thin that the moral sense
of the community must revolt with indignation
and disgust at the attempt which has been made to
entrap them into the support Of the putatiye au-
thor of this message. The spirit of Jack Cadeism
is visible throughout. The first column of the
message is only liberal paraphrase Of the speech
IF the would-be reformer ofthe days of Henry vi.
"There shall be in England seven halfpenny loaves
"sod for penny; the three hooped pot shall have
'ten hoops; and will make il felony to drink small
"beer; all the realm shall be in common, and in
"Cheapside shall my palfry go to grass. And when
81 am King. as King will be, there shall DO no
"money; all shall eat and drink my score; and
twill apparel them in one livery, that they may
"agree like brothers, and worship me, their Lord"
oarray the poor against the rich, has been the
device of the demagogue, from the time of Cade to
that of Andrew Jackson. But both the poor and
the rich of the present day too intelligent to
be deluded by the unworthy means now made use
of to disconnect their interests, which, instead of
being adverse TO each other, mutually de-
pendent, that the depression of the prosperity of the
one, is certain destruction to that Of the other.
Nothing is so much to be deplorcd in a republic
as tho prevalence of such feeling between the
different CLASSES of society, it is the design of
this message to provoke and foster. 1t is the fruit
ful source of all that jealousy, dstrust and want
OF harmony, whose slow but certain operation is to
dissolve the cement of society, to form clans and
widen distinctions among mon, and ultimately to
ALLEVIATE the affections ofevery member of the com
Jnunlty, from every other member who NAV have
become richer than himself"
Jack Cadeism! Never did pathological mint coin
q more appropriate and expressive phrase. Let us
look little into the Message for samples of Jack
Cadeism-and first tho following
"Eyery monopoly and all exclusive privileges, are
granted At the expense of the public, which ought
70 receive fair equivalont.-The many millions
which this act proposes to bestow the stockhold
ers or tho existing Bank must come, directly or in
directly, out Of the earnings of the American pco.
pie 1t IS due to them, therefore, if their Govern
fnent sell monopoles and exclusive privileges, that
they should at least exact for them as much they
are worth III open market. The value Of the mo-
DoPoly an this may be correctly ascertain
cd The twenty eight millions of stock would
probably DC at an Advance Of fifty per cent. and
command IN market at least forty two millions of
dollars, subject to the payment of the present bo-
nus.-the present value of monopoly, therefore, is
seventeen millions of dollars, and this the act pro-
poses 70 sell for three millions payable in fifteen
annual instalmcnts of 100000 cachp
The notion that to re-charter the Bank, would
be to bestow on the Stockholders as gratvitv, the
sum which the whole amount of stock is now
worth over and above par valuo is so enormous and
extravagaDt an error, that it is difficult to imagine
that even Jacksonan ignorance could give it enter.
tanmcnt. To give it even FEASIBILITY, it must
first appear that tho present Stockholders are the
original Stockholders, that all the Stockholders
purchased at one hundred dollars share. Bank