The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-09
From the Richmond Enquire
THE MESSAGE.

We lay before our readers the very i'm
portant Message of the President Of the
United States. Every one must admit that
it is written with great ability-and with a
moral courage, which puts to flight at once
the sneers and SCOTS Of his enemies. There
is not particle of non-committalism in it. 1t
puts forth the boldest propositions in the
plainest possible language. Its arguments are
vigorous-its style clear, dignifed, unimpas-
stoned, and statesman-like. 1t might serve as
a model for such compositions These are
merits, which, we should suppose, no man
who has the slightest pretensions to candour,
is prepared to deny to it. Let us then hear
no more Of the diplomacy, cunning, non-com-
mttalism Of the little magician.
The Message confines itself TO the great
question Of the Currency. 1t explains the
reasons which compelled the President to
call Congress together-portrays the causes
of our present barrassments-ascribes them
mainly to overlooking and over-banking, ag-
grauated as they have been by other causes
and then explains the objects which call
for the immediate attention of Congress. These
arctic regulate by law the sate-keeping,
transfer and disbursement o the public moneys;
to designate the funds to be received and paid
by the Government; to enable the Treasury
to meet promptly every demand upon 1t; to
prescribe the terms of indulgence, and the
mode Of settlement to be adopted, as well in
collecting from individuals the revenue that has
accrued, as in withdrawing it from former de-
positories, and to devise and adopt such fur
ther measures, within the constitutional COM
potency of Congress, as will be best calcu-
l. and 10 ITO
the prosperity of the country" The President
repeats his increased conuiction" and uncom-
promising hostility against National Bank
insists upon divorcing the connection between
the Government and the State Banks-and
assigns his reasons for the opinion at great
length and with great ingenuity. He advo-
Gates the Sub-treasury system; points out its
safe-keeping Of the public funds; shows that
it is not like the State Banks, calculated to
stimulate speculation, and derange the cur
rency-and meets the objections that have
been urged against it-After submitting these
views, he "leaves to Congress the measures
necessary to regulate, in the present emer-
gency, the safe-keeping and transfer of the
public moneys"-and pledges himself to car
ry out the plan which they may devise, con-
sistently with his obligations to the Constitu-
ton.
He then proceeds to investigate the charac-
ter of the funds, which should be received
and disbursed in the transactions of the Co
vernment"-presumes that the receipts into
the Treasury, of bank notes, not redeemed IN
specie on demand, will not be sanctioned
advises that nothing but gold and silver should
be hereafter received-and attempts to de-
scribe the advantages of the system, and an
swer the objections to it.
The President suggests the benefits of
Bankrupt Lap, as imposing a salutary check
on the issues of paper money-He submits
to Congress the propriety of further post
ponement of the Merchants Bands, which
have been laid over till the lst October.-He
mentions the deficit which will occur in the
revenues of the year-as equal to about 0
millions, after reserving a millions In the
Treasury; and recommends, that instead OF
making it up by loans or taxation, the last or
October instalment of the Surplus Revenue
should be withheld from the States.-He OBJ
serves, that " Until the amount can be col
lected from the (depositc) Banks, Treasury
notes may be temporarily issued to be gradu-
aly redeemed as it is received"
The Message closes with some general re-
marks on the limited character of our Consti-
tution-and the necessity of its abstaining
from any interference with the private pur-
suits of the Citizen.-It insists that the dis
tresses Of the times, however great they may
be, are limited in their extent, and rapidly re-
mediable by the great resources of our coun-
try-that the proceeds Of our great staples
will soon furnish the means of liquidating
debts at home and abroad"-that the "perlod
must soon arrive when all (thc State Banks)
that are solvent will redeem their issues in
gold and silver and concludes his rehcc
tons with the appropriate remark, that, "Com-
ing directly from the midst Of them, 1.-THE Peo-
ple,) and knowing tho course of events in
every section of our country, from you may
best be learned as well the extent and nature
OF these embarrassments, as the most desira-
ble measures Of relief" ], is impossible FOR