Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-09
MORNING HERALD.


Progress or the Revelation.
The agitation in political circles u incrsasing every
hour The Presidents message reduces the q'os'"''
70 two points-banks or no banks-to '~o 'u0
Locofoco or Conservative. For several DAYS past ga
the parties and factions throughout the Guy nave
been busting busy The wings, the iocSioo0s p,
per, the natives and the democrats, "n' nv" 49,
and rally under their separate banners. IN oo"s'pss
!, annears from our Washington correspondence 'na'
.A'I:- s.u,no into the ranks Of the Conserva-
-. 20 ,hus forming two distinct bodies, actuated
~, desrsn, and opposite principles The same len
haa;, n dcyelope themselves here. On
srs..~.J,v ,h.re was terriblerow at Tammany Hall
,rLs ron,m;,tee met TO take into consideration the
Message. For one hour they fought like bull dogs
A, ,,st the Conservatives turned tail and fled and
then the Locofocos passed resolutions approving the
Message.
We learn that the locofocos are preparing to unite
heart and SOUL with Tammany-to ABANDON tnef
own organization and return to their ola nead quar-
tiers, under the mantle of the recent Message on
the other hand, the " Old Mems Committee and the
q Seven Hundred" are determined 10 JON any party
hostile to the ocofoco principles of the President
union. is therefore maturing between the wings and
the Seven Hundred, under the general name ef"Con-
seryatves" The title of Wing is to be dropped, and
that of Conservative assumed.
IF these divisions and unions come TO pass as now
marked out the fall elections will be the mostinterest-
inc that ever took place in this country we snail
have only two tickets in New York, and, for the first
tine we shall know the difference between the prnci-
pies for which parties contend.
From this time, up to November, the present SEES
sion of Congress will be devoted 10 the agitation Of
the understanding distinguishing
The issue is now fairly and fully made up, and each
pary knows the principles for which it is contendlng
The Locofocos declare hostility to all banks and pa
Der money-and profess, openly that their ultimate
object is to destroy the incorporated banking system
and TO establish on its ruins free banking, under
general lao, open to all and erery man. On the
other hand the Conservatives in taror Of iacor-
porated state banking Of a ne,o National
Bank and clearly Of opinion that to Congress be-
longs the po,rer to regulate the exchanges
These we believe are the general views OF the two
parties in which the country is dividing ITSELF
This contest involves mighty principles-mlghty
interests and mighty consequences The conflict VIII
he terrific both in Congress-in the State Legislature
and at the polls. 1t embraces in its discussion the
whole theory and practise Of banking from the earliest
day to the present moment 1t means radical revo-
luton in our social, commercial, and monetary sys-
TENS.
In the present confused state Of the country It IS
difficult to predict with accuracy what course the
great masses will take. The President puts himself
at the head Of the mighty movement and carries with
him all the enthusiastic feelings which naturally ac-
company revolutionary outbreaks. We much fear he
will be successful in the end Revolutions never go
backwards"
The whole question will turn on the conduct of The
hanks contrasted with that of the administration
During the last year hebanks have made them
selves obnoxious to the whole country, mercantile,
agricultural and mechanical. They now reduced,
by their own acts to faithess, rredeemable insttn-
tons, without character reputation, standing. The
administration, and especially Mr.. Van Buren,, are
equally 10 blame. TO the policy of Mr. Van Buren,
and his friends in the States are we indebted for the
multiplication OF these very banks and heirconsequent
needless expansions. He is the father OF the Safety
Fund system, the great parent of the mischief.
But even with all these facts before the people, it is
very doubtful whether they W not unite more readily
against the banks than against the President This
erperimen, yet to be made in Norcmber. Let US
watch and report progress