Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-04-05

a corporation as the Bank Of the United States
and the evil consequences which follow may
warn us Of the danger Of departing from the true
rule of construction and Of permitting Temporal
ry circumstances, or the hope Of better promo
ting the public welfare, to influence in any de-
gree, our decisions upon the extent of the autho-
rity of the General Government. Let us abide
by the constitution us il is written, or amend it
in the constitutional mode if it is found TO be do
fectivc.
The severe lessons of experience, will, doubt
not, be sufficient to prevent Congress from again
chartcring such monopoly, even if the consti-
tuition did not present an insuperablc objection to
il. But you must remember, my fellow citizens,
Tint eternal vigilcncc by the people is the price
of liberty and thlt you must pay the price if you
wish to SECURE the blessing. 1t behooves you,
therefore, TO be watchful in your states, as we'll
in the Federal Government. The power which
the moniod interest can exercise when concentra-
ted under a single hoad, and with our present
system of currency. was sufficiently demonstrate
ed in the struggle made by the Bank of the United
States. Defeated in the General Government,
the same class of intrguers and politicians will
now resort to the states, and endcavor to obtain
there the same organization, which they have
failed TO perpotuate in the Union and with spe-
cious and decsitfil plans of public advantages,
and State interest and State pride, they will On.
deavor TO establish, in the different States, one
moneyod institution with overgrown capital, and
exclusive privileges sufficient to enable it to
control the operations of tho other banks. Such
an institution will be pregnant with the same
evils produced by the Bank of the United States,
although its sphere of action is more confined,
and in the State in which it is chartered, the mo-
ncy power will be able to cmbody its whole
strength, and to move together with undivided
L..
attain You have already had abundant evidences
Of its power to inflct injury upon the agricultu-
raj, mechanical, and laboring classes OF society
and over those whose engagements in trade or
speculation render them dependent on bank ia
cilites the dominion Of the state monopoly will
be absolute, and their obedience unlimited. With
such bank and paper currency. the money
power would, in faw years, govern the State
and control its measures-and If a sufficient
number of States can be induced to create such
establishments, the time will soon como when
it will again take the field against the Uni
ted States, and succeed ia porfecting and perpet-
uating its organization by charter from Con-
gress.
II is of the serious evils of present sys-
tenn of banking that it enables one class of soce-
ty--and that by no means a numerous ona-by
its control over the currency, to act injuriously
upon tho interests of all Others and TO exercise
more than its just proportion of influence in po-
litical affairs. The agricultural the mechanical
and the laboring classes, have little or no share
in the direction of the great moneyed corpora
tions-and from their habits and the nature of
their pursuits, they are incapable of forming ex-
tensivo combinations to act together with united
force.-Such concert of action may sometimes
be produced in single city, or in small district
of country, by means of personal communications
with each other-but they have no regular ac-
tive correspondence with those who are engaged
in similar pursuits in distant places--they have
but little patronage TO give to the press, and exer
else but small share of influence over it-thcy
hope to grow rich without labor, by their counte-
nance and favor, and who are, therefore, always
ready to execute their wishes. The planter, the
farmer, tho mechanic, the laborer, all know that
their success depends upon their own industry
and economy, and that they must not expect to
become suddenly rich by the fruits of their TOLL
Yet these classes of society form the great body
Of the people of the United States-they are the
bone and sinew of the country-men who love
liberty and desire nothing but equal rights and
equal laws, and who, moreover, hold the great
mass of our national wealth, although it is disri-
buted in moderate amounts among the millions
offreemen who possess it, But, with overwhel-
ming numbers and wealth on their side, they are
in constant danger Of losing their fair influence
III bhc ooNttHuicul, liiu WITH ullHCuity hidiituiu
their just rights against the incessant efforts daily
springs from the power which the moneyed inter.
ests derives from paper currency, which they
ara able 10 control-from the multitude of corpo-
rations, with exclusive privileges, which they
have succeeded IN obtaining from the different
States, and which are employed altogether for
their beneft--and unless you become more watch.
full in your states, and check this spirit of mo-
nopoly and thirst for exclusive privileges, you
WILL in the end find that the most important
powers of Government have been given or BART
cred away, and the control your dearest inter-
ests has passed into the hands of these corpora.
tons.
The paper money system, and its natural asso-
ciatcs monopoly and exclusive privileges, have
already struck their roots deep in the soil and
ii will require all your efforts to check its growth,
and to eradicate the evil. The men who profit
by the abuses and desire to perpetuatc them, will
continue to besiegc the hall of legislation in the
General Government as well as in the states, and
will seek, by every artificc, TO misead and deceive
the public servants. 1t is to yourselves you must
look for safety, and the means of guarding and
perpetuating your free institutions. In your
hands is rightfully placed the sovereignty OF the
country, and to you every one placed in authority
is ultimately responsible. 1t is always in your
power to that the wishes of the people are car
ricd into faithful execution, and their will when
once made known, must sooner or later be obey
ed. And while the people remain, as l trust
they ever will, interrupted and incorruptible,
and continue watchful and jealous of their rights
the Government is safe, and the cause OF
freedom will continue to triumph over oil its cne-
mics.
But il will require steady and persevering ex-
erticns your part to rid yourselves ofthe iniqui
ties and mischiefs of the paper system, and to
check the spirit Of monopoly and other abuses
which hive sprung up with il, and of which it is
the main support. So many interests are united
to resist all reform on this subject that you must
not hope the conflict will be short one, nor sue
cess easy. My humble efforts have not been spa
red, during my administration of the Government
to restore the constitutional currency of gold and
silver and something, trust has been done to-
wartds the accomplishment of this most desirable
object. But enough yet remains to require allyour
energy and perseverance,. The power, however, is
in your hands, and the remedy must and will be ar-
piled, if you determine upon it.
While am thus cndeavoring 10 press upon
your attention the principles which / deem Of
vital importance in the domestic concerns of the
country, ought not TO pass over without notice,
the important considerations which should gov-
crn your policy towards foreign powers. II is,
unquestionably, our true interest 10 cultivate the
most friendly understanding with every nation,
and to avoid, by every honorable means, the ca
lamitics of war and we shall best attain this
object by frankness and sincerity in our foreign
intercourse, by the prompt and faithful execution
of treaties, and by Justice and impartalty in our
conduct to all. But no nation, however DESTROYS
OF peace, can hope to escape occasional collisions
with other powers; and the soundcst dictates of