The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-08-26

been the practice OF licensing the to which they
owed their elevation, and such Spectators would pay
handsomely for the privileges 10 issue strips OF silk paper
money they and their conedeates have been allowed
10 engross nearly all the lands, and houses and Wealth
OF the state, without having contributed The value OF
single broomstck the wealth OF any man, They have
also drawn interest from society the whole amount OF
money they owed the society They and their conieder-
aes have thus robbed nearly the whole OF the working
classes Of all the fruits of their industry and must
now decide whether they shall be suffered continue their
game, or TO retain their plumber.
The foregoing is mere rant based on no argument
whatever Every one knows that bank cannot be
ted without actual capital paid in fixed by law.
Ii any has money to invest in this manner, he can
become slockholder il not, he is prepared, accord
ing to loco foco ethics to pirate banker merely I'm
der the present system, the banks restricted their
issnesa fund.- beyond their CONTROL but to which they
obliged to contribute, Is created for the redemption
of their bills and supervision Of their concerns had
by the officers appointed by the state for that purpose
That they arc licensed by oicc-hoders for pay, too
absurd TO require denial and FAR from robJiag the
laborng classes they have IN the language OF the adj
dress Of the Albany committee, "extended our com
merce over the whole world-peopled the wilderness
built our cities and viages-founded colleges, and
established our schools They have given national
wealth and individual prosperity and fthey have brought
evils in their train, they not for moment to
be compared with the advantages which have album
dainty realized"
"Our present laws have slso given full scope to that
great of the human formerly called usury
increase but better known by the terms iaeresf
and speculation This mode OF robbery, the
OF which such that only be pracSed by the pos
OF wealth agans, the poor and needy has proved
the ruin Of hundreds OF empires and received the attention
of the best and earliest lawgves, If thy brother be
waxen poor and fallen in decay with thee, then thou
shalt relieve him; yea, though he be stranger,
Journcr Take thou siTy Of hm or Increase but fear
thy God that Thy brother may live with thee Thou shalt
not give him thy money upon us nor lend him victnas
upon increased Lev XIV, &C. )Ezekie classes the
Fathers
OF the Christian Church spoke of him wrecker draw
ing ament from human misery and human tears and for
more than thousand years usu was reckoned through
out Chrsendom, not less criminal than other species OF
cannbalism Yet has this sin been tolerated to such
extent thatt has little left but the starved
Carcass OF the laborcr To feed upon"
II the Of interests were not legazed or if tho
usury laws repealed, have repeatedly shown,
on former occasions, that there would he limitation
to usury and oppression The legislature of the
opinion at the last session. and when the question
OF repeal came before the senate there but two
votes in its favor But If no interest whatever could be
obtained for money! which bait thrown into shallow
water, allure fish still moro shallow, how would it be
possible TO proceed with any branch Of business The
rich. surely are not gong TO give away their money
neither will they if deprived of banks other places of
investment, loan il without compensation In the
pension then, OF business necessary consequence,
the poor and the laborng classes would be the first
suiier Besides the prohibition In the Mosaic law rea-
tive to interest applied to the Je,cs exclusively Unto
stranger thou mayest lend upon usury, is perms-
sion given in Deut %, 20 The servant, too, who hid
his Lords talent and did not put it that he could
receive, at his coming, his own with usury, was
out as unproftablc, that there is not much scrip
ture authority for loco iocoism.
Probably the best mode Of completely destroying both
the curse Of paper and the OF would be-
simply, 10 lei credit alone 10 leave each mans credit
stand solely on its bottom, without any attempt to
strengthen weaken by legislation and by our con-
s'tution, 10 perpeuay prohibit the law from
iens IN any shape with any contract Of debt, either
enforce or annul H. This measure would make all debts
contracted after lis adoption what all debts should be,
debts Of honor. II would prevent the Of doubtful hon
csy, whatever might be his wealth. from obtaining very
extensive credit; and it would enable the honest man.
however poor;to olialn much credit he ought II
would subject the who should be guilty OF trusting
Speculation or knarc 10 the just punishment Of loosng his
debt andit would cause single dishonest blast
IT'S perpetrators credit wherever ne should be known
The beneficial effects Of such will appear he
more complete and extensive the it is examined
and would have the great OF being SIMPLE efficient
and just"
What process for collecting debts Even with our
presca wholesome laws and the restraints which they
impose, 1t is oftcnmes difficult to the payment
OF honest dues, and to guard against nnumerable frauds
But with every barrier removed and resort to honor
merely as an arbter to determine how far debts should
he lndatcd. or contracts enforced, who does
that anarchy and crime would predominant, and pros
tution Of our evil compact ensue There is a bold
IN the proposition more BETTING tc character of
ie'otoh'st tnah Ola supporter oi our republican IN
stltuions.
a. reform Of the judiciary system would naturally en-
gagethe attention Of the convention propose four
Judges TO have the power Of drawing their decisions
from lniernnae fosbank Of laws, and precedcns and
dead mems opinions they ought be made nearly
responsible TO the people who compelled pay their
wages and TO submit 10 all their decisions"
10 carry out the doctrines previously advanced re-
form in the Judiciary would follow as n matter Of course
or rather no judiciary at all would be requisite Hon
would supcrsede the necessity Of Judges any re-
crencc to the legal decisions the wises and best men
OF this or any other country.
"Thc practice of preserving the public lands for the
benefit OF spectators and Wild beasts while thousands Of
Gods childen have where lay their heads and the
practice OF stripping poor child Of his natural,
nallcnable right To share Of the bounes OF
faiher that he may he compelled TO shortened
existence in the of so,h and luxury are subjects
that should at this time be considered with serious ac
tion and acted upon with deliberate caution by whole
people. should he borne mind however, that these
wrong things come within the province Of conscience
than within that law"
1t is no, true that the public lands have been reserved
for the benefit of spectators Then we are free to
admit that it would have been more conducive to the
public good and that much Of the present pressure
would have been avoided had the sales been confined
to actual settlers still could furnish payment
therefor, has the right of purchase been denied At
present extensive sales h. ceased and is altogether
probable that law will he passed at the session
OF congress. restricting the number Of to be
vcyed to each individual
1t would be both announcement and unnecessary to ad-
wort to all the subjects that might be submitted TO the
sidcron of the proposed convention What ourselves
wish is, a NEW CONSTITUTION, based not upon un-
compromise not upon any Of temporary OK
pcdcncy but upon the broad and eternal basis OF RIGHT
We wish aw to become the echo Of conscience We
wish that should hereafter he privileged 10 do
unto others that which he would not have others do
HIM, from others thi which he would not have
others exact from him. And this is all"
This caps the climax constitution which shall
make law the mere echo Of conscience The idea is
too absurd to warrant serious comment II is how
ever, the ofloco focoism A proposition of the
present compact--of all law and order-and the cree
ton on their ruins of system which shall strip one of