Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-08-02
From the National Intclligencer.
CHANGING FRONT.

Whatever may be the meaning oft,
the administration has wheeled right
about" and fairly turned its back on
the principle of finance, in the attempt
to introduce which into practice, il has
itself been obliged to stop payment, and
has forced the banks universally, and
almost all the People to do the same.
We need not, we are sure, quote
chapter and verse TO show that, hither-
TO, the public prosperity has been held
as nothing by the Administration in
comparison to the introduction Of a
metallic currency, rs substitute for
the admirable bank currency which
we had heretofore enjoyed. II we were
so minded, we have not time 10 search
the files ofthe Globe or the public rec.
ords for exposilions Of this doctrine de.
livered on divers occasions by persons
known TO possess the entire confidence
ofthe late Executive, and OF course of
"ihe party" But, without taking so
much trouble, il 10 sufficient to state
that, even since the stoppage Of pay
ment by the government, the same doc.
trine has been inculcaied by the official
paper with as much of earnestness and
as much Bipartisan zeal as ever. Elk.
actly sixty days ago, and no more, the
Globe held edtorially, the following
language:
"The difference between silver ard
gold, The true Jackson money, and bank
money, is now well understood by the
People. The value Of the former does
not depend on the prudence or honesty
Of individuals, because it contains with.
in itself the value it PROCESSES to repre-
sent. But bank money has no intrin-
sic value. AT the best il is but the
promise of a corporation, or of an in
dividual, which may or may not be full.
filled. Its value often evaporates while
in the pocket Of the owner" &c. &c.
and, later still, ION the 3lst of May,)
in speaking OF the banking system gen.
orally, the same official journal said
" every patriotic republican in the Uni
on looks to Congress TO deliver the go.
rernment from oil dependence on class
of men hostile to its principles, and who
have contrived TO strip it Of the means
Of meeting the appropriations with
forty million surplus. J"
1t is very clear, therefore, that, up
to the first Of last month the patriots
who rule the Globe looked TO Congress
for deiiverouce from all dependence on
Banks, by whatever means. They
were all MONSTERS" to be abhorred,
warred upon, annihlated, If the party
had power to accomplish it.
With the knowledge of this bitter
and vindctiye enmity Of the party lea
ders to the credit system, carried TO
the extent even of the cruellest calum-
MES against the whole body OF those
who, by the means Of credit, united
with high intelligence, have enriched
their country, and elevated and embel
Eshed it's character, the reader may
Judge of our surprise at finding in the
Globe, at this late hour, the following
admission
/" Banks cannot be dispensed sc,th,
except at the sacrifice of all justice in
regard to the contracts made under a
mixed currency, nor without a violation
Of the faith pledged in the legislation
(where honestly obtained) by which
they were established. The subject
must be left togradual reform, to which
the intelligence of the people ofthe res
pective States is fully adequate"