Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-08-09

gives us much satisfaction to know, what
we have learned from the history of the
past, that such efforts cannot be success
ful. That national bank, whose notes
should be made legal currency in the
payment Of public dues, might have tenn
porary effect to alleviate existing embarras-
ments, is possible T; but we believe that the
manifold evils ofsuch an institution would
altogether outweigh every consideration of
its advantages. The history of the late
United States Bank for the few years Just
previous to the termination ofits existence,
holds out in characters of bold relief to
the American people, an impressive warn
ing against the establishment of another
institution. There is too much reason to
believe that had any other man than An
drew Jackson been at the head Of our pub.
lie affairs during that eventful period of our
history, the government of the People would
have been too weak against the government
of the Bank. We mean no disparagement
to other public men when we say, that
it required all the sagacity, the firmness
the popularity and the disregard of conse-
quences for faithful and energetic dis
charge of public duty which distinguished
the Hero of New Orleans, to withstand the
moneyed power which so boldly beset his
administration. And with such an exam
pie before their eyes, the American people
would be recreant to the trust committed to
them by their fathers to be handed down
unimpaired to succeeding generations, if
they should again expose the principles of
liberty for which they fought, to be subdued
and crushed by the power of incorporated
wealth, shielded from responsibility to the
government of the people, by the aristocra.
tic panoply of "vested rights" A leading
statesman of the opposition once exclaimed
in the warmth of a popular harangue, "give
us war, pestilence, famine or any other
scourge than military rule" and with how
much more propriety and justice may the
people of the United States invoke upon
their country all these evils rather than
hazard its subsection to the more ignoble
rule of the irresponsible government of a
bank.
In thus expressing our unqualified disap-
probation of the scheme of establishing a.
mother national Bank, we must not be un.
derstood as waging war against the whole
credit system. This system, which has
grown up to its present strength with our
improvement, has become so closely united
und interviewer with the whole trade end
business of the country, that its immediate
destruction would nhict an incurable and
unnecessary wound upon the prosperity of
our people. 1t is in great measure to the
credit system stimulating the enterprise of
our citizens in the development ofthe vast
resources of our territory, that the West
owes its rapid advances in population and
wealth, and a continuance of the system un-
der proper guards and regulations, will ma
terially promote our future growth and pros
perity. In giving this expression of our
sentiments in favor Of the system, it must
not be understood as our opinion that it re-
quires no modification or improvement.
Our motto in relation to the credit system
is, LET 1T BE PRESERVED and LET 1T BE
REFORMED"