The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-19

iration In the support Of that administration,
republicans throughout the country were
taught to believe that the use OF local banks,
through gradual reform Of their currency,
and with proper restrictions, could enable the
people to dispense entirely with an institution
upon national scale, from which influences
dangerous to the liberties of the people would
be forever inseparable. They were taught by
this same administration to believe, that the
very weaknesses of the local banks made
them preferable to the mighty powers of
National Bank, and yet would not impair their
efficiency in supplying sound currency to
the nation under the fostering influences Of
the federal government. They were not led
TO suspect that these same weaknesses would,
at the first favorable opportunity, be taken ad-
vantage Of by the very mouths that were COM
mending these institutions 10 the people, and
be made by them, in turn, the victims Of some
new experiment, to answer any purpose Of
Executive power or party policy. And we
are even still confident in the opinion, that
Mr.. VAN buren, himself means not to be I'M
derstood as attaching such en- importance to
the policy Of dispensing entirely with both the
agency of local banks, and the use of their
notes, in the management fthe Governments
relations with its creditors and debtors, as to
urge its adoption at a sacrifice Of the unity and
ascendancy Of THE REPUBLICAN PARTY. In
his message he frankly dsclaims every thing
like a welded obstinacy to it, With the spi-
rit of forbearance and Of compromise that be-
comes sagacious and patriotic statesman, he
acknowledges the great respect that is due to
the diversity Of opinions that prevail in com
munity on this subject; and in like spirit of
frankness he avows his own willingness to
accede to whatever decision the wisdom of
Congress-the constitutional umpire in all
such matters-shalI direct, if free from en-
croachment upon the high and sacred princi-
Piles of constitutional duty, imposed upon him
self by his Office. Listen to him in his
Message.
"With these views Ileave to Congress the measures
safekeepng and transfer of the public moneys In the
performance Of constitutional duty, have stated to
them, without reserve the result Of my reflections
The subject is Of great importance; and one which
we can scarcely expect to be united in sentiment
in interest, 1t deserves full and free discus
sion, and fail to be benefited by dispassonate
comparison of opinions. Well aware, myself Of the
duty OF reciprocal concession among the coordinate
branches OF the government can promise reasonable
spirit Of cooperation, far it be INDUCED in
without the surrender Of constitutional objections which
| believe to be well founded Any system that may be
adopted should be subjected the fullest legal prov
sion. to leave nothing to the executive but what
is necessary to the discharge Of the duties imposed
him. and ,chatepcr plan may be ultimately established
my part shall discharged TO i1c fair
trial, and the best prospect Of success"
The issue, therefore, upon which Mr. VAN
buren, plants himself, and invites his friends
to stand, is not to be found in these PROPOSE
tons relative to the mode of collecting, keep
ing and transferring Of the public money But
it is to be found in the great question of BANK
or No BANK. Upon this he neither tenders,
it as subject admitting of compromise. tits
not question of expediency, but one of
PRINCIPLE; and principle, with an honest
mind admits Of no compromise. On this point,
let us once more advert to his Message, which
says .a will
ave have for nearly half century, that those
who advocate National Bank, by whatever motive
they be influenced constitute portion Of our com
mnnity too numerous 10 aiioo 10 hope for early
abandonment Of their aporite plan. On the other hand,
they indeed form an erroneous estimate of the in
To nd If
pose that they have continued, slight insufficient
grounds. their perseverng opposition to such nsttu
ton or that they be induced by pecuniary pres
sure, by any other combination Of circumstances to
surrender principles they have so long and nexiby
maintained. ...
have been repeatedly and unreservedy announced my
fellow citizens who with full knowledge of Them con-
ferred upon me the two highest Offices of the Govern
ment On the last Of these occasions, felt it due 10
the people to apprize them distinctly, that the
OF election, lconid not be able to cooperate The
establishment of National Bank To these sentiments
have only to add the expression of increased
conviction, that the re-estabshment Of such bank in
any o,m whilst it would not accomplish the beneficial
purpose promises by its advocates, would impair the
rghIl supremacy Of the popular will njure the cha
racter and diminish the influence Of political system,
and bring into existence a concentrated mo-
neyed power, hostile to the spirit and threatening the
permanency of our republican institutions" a
Thus has Mr.. VAN buren, advised his
friends what constitutes the GREAT ISSUE
He admonishes the people, that they need
not hope to see the opposition abandon their
fauortte plan" of A NATIONAL BANK. Why
then allow the friends of the administration
to friter away their ascendency and strength
upon this great issue, by divisions among
themselves upon false and unnatural issues,
and by new, alliances of antagonist spirits