The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-10-05
We find in the NsW York American an ar
ticle quoted with comments, from the Alexan-
dria Phenix, in which we find the following |:

=
dria Phenix, in which we find the following
A"Om Conservatives profess TO be anxious also TO
preserve institutions the only institutions that
We can see which they exceedingly desirous to pre-
serve, are the Banks!
The true bank party Of the country, therefore, are
Mr.. Kiyes, Mr. Garland Mr. Patton, and their political
associaesthe Conservatives as they call themselves
or, rs they should be called, the Bank Preseryers.
They 90 for the banks--the whole banks nothing
but the banks. They, who suffered the PusLIc LBER-
Ty TO be ranped upon by General Jackson throughout
his whole administration, without raising their voice in
its defence now cry aloud and spare not when the banks
are menaeed J"
This article is introduced by the American
in connection with a commentary upon some
remarks Of our own.
From all we have seen, we can scarcely
hope that any professions we may make will
be believed, even though backed by certificates
and affidavits. Whether truths are to be re-
ceived, or the force Of reasoning acknowledge
ed, will, il seems, depend upon the whims or
the interest Of the moment. Whether one
gets any credit for honesty, will depend upon
whether his views square with those who are
to yield it. Triumph seems not to await
truth, but clamor.
Tie state banks have hitherto been en-
ployed as the repositories Of the public funds,
and their notes have formed the actual cur
rency of the country. An unforeseen and ir-
resistble calamity, overlook them, as well as
the whole community, and by common con-
sent they suspended specie payments. One
great source of their credit, was the conf
dence which the Government reposed in them;
that was Withdrawn.
Because we are falsely charged with "suf-
fering the public liberty to be trampled upon"
is ievidence that we are wrong in now sup
porting the banks! But five have neglected
dlty at one time, is tia good reason why we
should disregard all duties, at all times We
do not understand the American to condemn
the defence of Banks" but only to condemn
US FOR defending them, because we are falsely
charged with sin Of omission. This sort of
logic may satisfy the American, but will it
convince the public
We support the banks now, because they
are, if not in the only, in the greatest danger
and because they are among the very earli-
est and most valuable, important, and indis-
pelsable institutions Of the country
4The Madsonian has thus far argued that the Go
verament should receive irredeemable paper Wells
burg (Pa.) Gazette
Those who thus misrepresent us must have
been mapping, or they would hardly have pre-
sumed TO make statement which is so ire
concilaSle to the fact. A single paragraph
cannot Ie found in this paper, in which we
have ether argued" or intimaied such a
policy. Others have argued" the receivea-
bility OF Treasury notes, kind Of paper
which nay be redeemable or irredeemable ac-
cording to the condition of the country and
the Treasury. We have urged the policy of
collecting and discussing the public revenue
:" in the egal currency Of the United States,
or in thenotes Of banks payable and paid on
demand n the said legal currency" If there
is any hqesy in this, then the whole Repub-
lican parry have been heretics ever since the
joint resolution Of 1916, since which time
this policy has been practised. 1t was re-af-
firmed atthe last session, and bill to erclude
small noes would have become a law, but for
the Executive liberty of pocketing bills pass
ed by five-sixths of the American Congress.
Iightcu our darkncss-,chaf, no. "a candle hcreg