The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-12-07
THE MESSAGE, THE UTICA OBSERVER
AND THE GLOBE.

we take The following nom the PRESIDENTS Mes
sage:
Desiring however, to arrive ut truth and a just
view Of the subject in all its bearings you will at the
same time remember that questions of far deeper
and more immediate local interest, than the fiscal
plans of the National Treasury, were involved in
those elections. Above all, we cannot overlook the
striking fact, that there were at the time in those
States more than one hundred and sixty millions of
bank capital, of which large portions were subject
10 actual forleture-oher large portions upheld on
ly by special and limited legislative indulgerces-
and most of IT, il not ALL TO greater or less extent,
dependent for continuance of its corporate exist
ence upon the will of the Stale Legislatures to be
then chosen Appraised of this circumstance, you
will Judge, whether 1t is not most probable that
the peculiar condition of that vast interest in
these respects the extent TO which il has been spread
through all the ramfcations of society, its direct
connection with the then pending elections, and the
feelings II calculated infuse into the canvass
have exercised far greater influence over the re-
suit, than any which could possibly have been pro-
duced by conflict Of opinion in respect TO question
in the administration of the General Government,
more remote and far less important in its bearings
upon that interest"
We take the following extract from an article in
the last Uaiea en- W Observer, athorough going Re
publican paper, in which we were roundly rated for
limiting at Reorganization of the Republican
party.
To go back no further, the democracy Of this
State have particular reason 10 complain OF the
Just and obnoxious remarks in which the Globe has
INDUCED in relation to the late election. That pa
per OF the 18th inst thus remarks: The late cleo
tions in The State of NeD York hare been cridentiy
carried under The influence Of panic created By a
false issue As the Globe admits that the panic was
created by false issue IL may pertinently be asked
why was that issue raisedl Why should that paper
have labored towards raising it by its mpoltic and
undeserved abuse of banks and all connected with
them, and by its unrelenting denunciaion Of every
man who could not accord with its own peculiar
views. The Globe ought, in charity to bear in mind
that there was time, even in its own remembrance,
when mans attachment to democratic principles
banks nay when 10 sustain those institutions was
but to follow the teachings of the Globe itself
Again says the Globe, "The period of indulgence
granted to the banks terminates in the approaching
May and the fate of these institutions is TO be decid-
ed by the legislature Just elected" 1t is true that the
indulgence alluded to terminates in the approach
ing May; but the Globe exhibits an excusable gno-
raEce of affairs in this State, when it asserts that
the fate Of these institutions is 10 be decided BY the
Legislature Just elected The causes which rem
dered the indulgence 10 the banks proper and ne
cessary step have nearly passed by The banks will
be enabled TO resume specie payments at an early
day, and unquestonaby before the expiration of the
suspension law This was well understood through
out the State, and 1t betrays misunderstanding of
condition to assert the Globe does in effect,
that any one expects an extension of the suspension
law, or that any such issue was presented to the
people. The Globe starts on false premises; its fan
cied false issue has no real existence, and its de-
auctions from that assumed issue are equally un-
founded.