The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-12
POLITICAL.
From hs Richmond Eaqarsr.
THE MESSAGE.

portant Message of the President Of the
United States. Every one must admit, that
il is written with great ability-and with u
moral courage, which puts to flight at once
the sneers and SCOTS OF his enemies. There
is not particle of REORGANIZATION in it. IL
puts forth the boldest propositions in the
plainest possible language. It's arguments are
vigorous style clear, dignifed, unimpas-
stoned, and statesman-like. Ii 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-
mittalism 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 embarrassments- them
mainly to overwhelming and over-banking, ag-
grapated as they have been by other causes
and then explains the objects which call
for the immediate attention Of Congress. These
are" to regulate by law the safe-keeping,
transfer and disbursement Of the public moneys;
to designate the funds to be receiued and paid
by the Government; to enable the Treasury
TO meet promptly euery demand upon a.; to
prescribe the terms of indulgence, and the
mode Of settlement to be adopted, as well in
collecting from individuals the reuenue that has
accrued, as in withdrawing 10 from former de-
positories, and to devise and adopt such fur
Their measures, within the constitutional COM
potency of Congress, as will be best calcu-
lated to revive the enterprise, and to promote
the prosperity of the country" The President
repeats his g increased CONJUNCTION" 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
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" pledges himself to car
ry out the plan which they may devise, con-
sistenly with his obligations to the Constitu-
ton.
He then proceeds to investigate the charac-
ter of the funds, which should g be received
and disbursed in the transactions of the Co
ernment'-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 Bonds, 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 10
millions, after reserving 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 (deposite) Banks, Treasury
notes may be temporarily issued, to be gradu-
ally redeemed as it is received"
The Message closes with some general re-
marks on the limited character of our Consti-
the necessity of its abstaining
from any interference with the private pur-
suits of the Citizen.-lt 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
IL. - hot he id
must soon arrive when all 1.-THE State Banks)
that are solvent will redeem their issues in
gold and silver,"-and concludes his relec-
tons with the appropriate remark, that, "Com-
ing directly from the midst of them, THE Peo-,
ple,) and knowing the course OF events in
every section of our country, from you may
best be learned as well the extent and nature
of these endorsements, as the most deslra-
bic measures of relief" 1t is impossible for
us to do justice to the beauty and force OF this
portion of the Message.
Such is the general character of the inn
portant Document, which we now lay before
our readers. We have read it with every
respect for the abilities and honesty of its au-
thor-with the deepest attachment to the man,
and with every desire to promote the success
of his administration. We have re-examned
the propositions -rc-perused his arguments
and sought to disabuse our mind of all its pre-
JUDGES and prepossessions. In the same
frank spirit in which he has addressed his
countrymen, we respectfully say, that we still
differ from the course which he has chalked
out We shall state our opinions freely,
but briefly; (for we are pressed for room.)
Heaven knows, that we " set down naught in
maliccl" Mr.. Van Buren, himself knows us.
better. We consider it peculiarly unfortunate
at this time, thai all the friends Of the Admin
istration cannot 60 together. The country is
sorely afflicted and the leaders Of the Oppo-
siton are seeking to make the most Of our
J.a..an.o. -. ,v,II ,S of onr diy,o;one Tho