The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-10-31

land Offices and post offices; aud establish two dis
tincl currencies-god and silver for the Office
holders, and paper for the people, Ulster IN ~
.SeHtinei-
II will BE- seen that the plan to impose additional
duties upon certain officers Of the Government for
the collection of the public revenue has after much
debite passed the Senate TO third reading. The
House will undoubtedly reto It, as they should We
look upon il as more obnoxious than a National
Bank much we are opposed 10 such an instu-
ton Toledo Gazette.
Resolred That we are advocates OF certain and
appropriate infusion OF the precious metals, with
convertible bank paper, in such proportions that the
former shall not exercise depressing and injurious
influence upon the value OF The latter, that the
latter by unnecessary and over issues shall retard
the proper circulation of the former believing that
the union of both Indispensable necessary for
carrying on the varied pursuits oflifc.
Rssolred, That we are firmly opposed to the dis
organising revolutionary and dangerous doctrines
OF the Loco F6eos and Radicals which have for their
object and tendency, under the garb of Democracy,
the total destruction OF all established constitutions,
written laws, chartered institutions and all credit
systems We believe banks NAV b, SO established
BY proper restrictions in relation TO their issues and
security for their full redemption; that they may
confer signal and salutary benefits upon the whole
community and that their annihilation and the sub
stitulion OF an eIciusire metallic currency would
be disastrous in the extreme, by checking individual
enterprise, and internal improvements and by dry
ing up all the fruitful sources of our national pros
perity.-I Resolutions Of Harrsa Conaty,N. Y
The following resolutions were adopted at great
democratic meeting at Kingston, IN, w
Resolved, That in these times of uniried "expedi-
enlsn when great changes in our republican system
proposed, the democracy should recur TO the first
principles, and rgdy adhere TO the sacred doctrines
promulgated by JEFFERSON and MADISON in the Ken
lucky and Virginia Resolutions; and that every
measure lending 10 strengthen the General Govern
ment at the expense of the State sovereignes should
be carefully scrutnized, freely discussed, and, il
found dangerous Of doubtful expediency, resolute
~ rejected
Resolved, That as "the price of liberty is eternal
vigilance care glad to see that the SUB Treasury
Scheme recommended by the President--haying in
view the appointment OF all the receivers OF the Gus.
toms, all the receivers of public land offices and all
the posmasters throughout the country as subtrea-
surershe collection Of all the public dues in gold
and silver, and the locking-up of the precious me-
tails in the vaults or chests of all these officers until
wanted for the payment of their salaries and other
purposes-is receiving futl and free discussions =
that under republican government freedom of
thought and freedom of speech" should be held sa-
cred and inviolae and that even error of opinion
should be tolerated when reason is left free to com
bat It."
Resolved, That however honest or patriotic may be
the motives of Mr.. Van Buren, in recommending
the subreasury scheme, that as this project is de-
signed to be permanent measure, il is the part of
wisdom to look well to the future, and 10 those who
may come after him into the Executive chair lest
union OF the purse and sword in the hands OF the
President may, in the language of the venerable and
sagacious JACKSON, tempt Gnibiti0aP
Resolved That we are opposed to any unneces-
sary extension of the powers of the General Govern
ment and that are not without apprehension
that the sub-treasury scheme would violate State
rights and endanger the welfare Ii not the existence
of State instuons-that il would lead 10 the extern
sion of the patronage and influence ofthe National
Administration il not 10 the creation OF swarm Of
subordinate officers and to numerous populations,
detalcatons and frauds; that it would grievously
perpex and harass the people by drawing utof their
hands the precious metals and leaving them nothing
for currency but paper; and that il would drain
the banks of gold and silver and thus destroy the
only safe basis upon which these indispensable in
stitutions can be founded.
Resolved That with the Hon WILLIAM G. RrvEs
of Va, we believe an exclusive metallic currency,
either for the Government or the people, TO be i'm
practicable that whatever is good enough for the
people is surely good enough for the Government;
that mixed currency Tor both--consisting of gold
and silver for small and specie.paying bank notes
for large, transactions-is unavoidable; and that
We therefore, approve of the provisions of the bill
INTRODUCED BY Mr. Rives in the Senate having these
meatures of relief in view
Resolved, That we admire the firm and consistent
of the Executive against the incorporation of
another National Bank and that we havetoo many
proofs of the dangers resulting from such gigantic
moneyed power to warrant the establishment OF a
similar institution in this free repubic-and that
we in heart rejoiced at the recent quietus given by
both houses Of Congress to the hopes ofthe friends of
another mammoth bank, by the prompt passage of
the resolution declaring it TO be inexpedien to again
charter such an institution.
Resolved That we are decidedly in favor of sus-
tanning our Safety Fund System; that the loca-
ton of our own State banks in our several counties
is far more convenient and advantageous than either
National or Private Banking System; that the
branches of National Bank would be mostly To-
Gated in large cities and would subject Dor
rowers from the country to great risk expense and
loss OF time in procuring their facilities and paying
their notes abroad
Resolved, That we abhor the spirit of Loco-fo-
cosm and Agrarianism, which would strike down at
one blow the present credit system of the State and
demoliSh the availS of enterprise and indusry that
credit is the poor mans as well as the rich mans
capital; that under its nvigorating influence we
have seen the Delaware and Hudson canal construct
ed and village after village built up and that since
the establishment of our local banks, we have seen
business prosper and real estate advance-we have
seen the most beautiful edces in our town erected,
new roads and streets laid out and other correspond
ing Improvements made-far surprising the works
OF century before. #..
The follwng are from the town of WawarSing,
IN W
Resolved, That we view the Sub Treasury scheme
recommended by the President as impracticable and
lnexpedlen-aS giving more power and patronage
TO The EXECUTIVE, than is safe and prudent or was
intended by the founders of our Republic, or the
trainers OF The Constitution; and hatwe believe that
il would ultimately, if adopted, destroy our excellent
credit system by which country has been carried
to unexampled prosperity
Resolved, That we rejoice to perceive that several
of the banks in this State have resumed specie pay
mentS, and that we believe all that is necessary TO
enable them all to such payments, is to con-
time and extend the confidence of the people and of
the government towards those institutions which are
known to be sound and worthy of their confidence.
Resolved, That view with pleasure the mea-
sures of relief proposed by the Hon. William c.
Virginia, and believe that their adoption would ac-
complish the ends for which they were proposed.
Resolved, That we are opposed 10 having one
currency for the government, and another for the
people. ..-- -----