The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-23
From the Utiea IN. " Observer.

From the Utiea IN " Observer
We are glad to see that the Albany Argus
is frank and explicit in disavowing all con-
nection and fraternity with the loco-foco inte-
rest, and denomces that band of destructives
in round and Just terms. The editor says:
1--WE are not conscious Of having entertained MT
tered the views opinions Of that faction in single in
stance, or in any manner" aa
Upon the Presidents Message the Argus
makes these remarks:
"The Message Of Mr.. Van Buren, is asssiled by
concerted movement Of the wings as locd-foco."
is obviously part Of the game Of the opposition
to insist that the message is locofoco They hope TO
alarm the public mind, and to seize upon any prevalent
apprehension for their political advantage Il IS nan-
rail- as party expedient, and especially with party Of
expedents, that they should insist that the President the
Message and the friends Of the Executive, were loco
foco and that their design PROSTATE the banks
and erect in their stead the mpracticabe scheme Of
an exclusive metallic currency" a
In relation to the great questions which may be sup
posed TO claim the attention Of Congress, the message
stands upon the old democratic Notwithstanding and
maintaining principles co-eya with the foundation of
the Government and by right construction Of its pow
ers and duties but by assalng the state nst
tutons subscribing the ultra and dangerous sent
| mcnts that would strike them out Of existence"
These are sound principles, put forth in
! decided and unqualified terms the democra-
tic party can stand upon them. We are most
happy to seem them thus put forth by the able
editor Of the State paper.
| No one we trust, desires to see banks, their
creation or their support, made test of demo-
cratic principles ;--and on the other hand, we
trust no sincere Democrat wishes to see
their DESTRUCTION made such test. We
,lo hat, -, 81
mad enough to believe. or base enough to pre-
tend without such belief, that the interest Of
the country, or any part Of 1.-THE interest of
the entire population or any part Of it--of any
or every class or description Of persons
would be promoted by the destruction of ex-
listing institutions and the humiliation Of all
paper currency. The Democratic party is
not a bank party, nor is it party arrayed
against and intent on destroying all banks
and all bank currency. Such scheme may
prove man mad, but would very liatle prove
him to be a republican of the jefferson school
or any other school.
The condition of the country is deplorable
enough, but is it to be improved by an annihi-
lation Of four-ffths of the currencyl How
would debts in such case be paid What
prices could property command in such state
Of things 1t may be fashionable to rail
against debtors as outlaws who have forfeited
all rights |; but can sober community desire
to see crusade Of determination got up
against debtors, and their property sacrificed
at nominal prices, to pay their debts ! The
ioco-f ocos strike at al banks--at all currency,
except the pure metals; thus carrying down
all debtors in irretrievable ruin. What good
object would be effected by such course
The poor would be where they now are 1.-The
middle class, the business interest-always
more or less in debt, though generally with
ample properly to pay at any thing like the
usual prices they would be the sufferers
would be absolutely overwhelmed; and the
already overgrown rich--those who have
boarded treasures--they alone would profit