The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-21

Heretofore, had been taught that the preservation
Of our system Of in IL constitutional action,
while il was by far an object Of higher interest and
more universal concernment than any othoF 70 every
citizen at the same time, The first and hghest duty
Of patriotism Language Of the kind, 10 which he had
alluded; had unfortunately been too common among
certain political party in this country the effect Of
was to produce dissatisfaction In the public mind and
prepare the WY for the overthrow OF our system OF
government by inducing the impression that there y no
IDENTIFY Of nteresfs between the people and their own
Government II was not the part OF American states
man. IN his humble Judgment, 10 language calcu-
lated TO bring the Government into disreputc At home
and 10 degrade Il in the estimation Of foreigners abroad
Az 70 the idea OF Legislative relief to the country, Of
which much has been said in the course Of this de-
bate he must confess he had but little faith ~ H.
was true that Congress might, and probably would,
grant indulgence to such Of The merchants as were debt
10 the Government and required and mignt sdop
some other measures Attending some mc'ashtal oeen'
DIV 10 relieve il from its endorsements, was, IN ms
opinion not only impractcable, but at variance win
he principles of our Government. What, we would
ask did gentlemen mean by the rehef which they nad
so often spoken Of in the course o. me debate Mss
that men should be egsated out Of debt who had mos,
,,lproyidentiy plunged into gambling specuiasions
Was IL that banking corporations should IN some way
be favored by legislation, At the expense OF puo'c
rights They had not spoken out as 70 the measures
Of relief on the virtue Of which they seemed 90 much TO
rely He ventsed TO predict, however, whenever these
measures Of relief proposed although they mgh.
he brought forward protesting 10 DO IN the name ana
for the benefit Of the people, they would turn out 70 DC
plan to relieve certain closses at the expense OF inc
great mass OF the people The true doctrine under our
system he had rightly compchendcd i, was Tor TO-
yernmcBt TO extend its powers no further than to pro-
tect individuals their personal rights ana lawful sc
QUESTIONS Of property against fraud and violence leaving
each in the enjoyment OF the rewards OF MS own NOUS
try and TO pursue his happiness in his own way
| When Government undertakes to do MORE and 70 IN
tererc in the private pursuits Of men, must oil neces
s.y. in endeayoring to relieve one class vioate INC
rights Of another, by doing at their expense ouch
was the doctrine that had been taught Ivy the highest
and most revered names on the list Of our statesmen
He therefore, repudated the doctrine Of legislative nos
truns to relieve classes who were embarrassed, ana
believed that such things must mainly work out then
own cure that being the only sure and eiectnai WY
| OF remedying the evil,
in their censue against the measures proposed oy he
administration they had condescended IN the pieni
dc Of their skill curing diseases o. state 70 propose
the panacca which they were ever ana anon opscuisiy
| Inning at Without intending to dictate course OF
public conduct to them, he must be allowed to say that
when gentlemen condemn freely the policy and plans
OF others they thereby obligation. as faithful
representatives Of their constituents, TO furnish better
and not to confne ihemelves simply TO line OF con-
demnaiion
He (Mr BY did not see in the condition Of the coun-
try the alarming symptoms and dangerous crisis which
had been described in such dark and gloomy coors and
which, however well intended the motives doubtless
were that prompted the were but little ealcIla'ea y
the present tremulous and sensitive state Of public con-
fdence aay the evils arising from pecuniary embar-
rassment He did not believe that the nation had fallen
into the slough Of despond" as the gentleman from
| South Carolina, (Mr Preston) had said II was true,
that embarrassment had been severely felt in the COM
mercal community, and among other classes who had
overtraded and engaged in runous specuations; but
the great Of substantial citizens agrculfursts and
Others he believed unaffected, except by the banks
having suspended specie payments, which they had
done with, he believed larger aggregate proportion OF
specie than they had at any time before possessed.
Looking to the condition Of country in contrast with
Others he saw no to despair but much to con-
graduate ourselves With national debt weigh
on resources, with population possessed TO an I'M
exampled degree Of the means Of human subsistence
and happiness with country OF unlimited capacity Tor
the production Of every thing essential TO supply its
wants and comforts, and above all, remembering that
free and noble institutions yet survive, who does not
feel that stand in proud and gratifying contrast with
any other nation
Checked in its prosperity. il might be, for short
time by the causes which had operated on both sides oil
the Atlantic to produce mprudent extension OF the
credit system but he denied that the substantial re-
Of the country even touched by the events
which had happened in the last six months Many IN
divduals in commercial and other pursuits, had fallen
beneath the pressure Of the times others perhaps would
share the same fate property had and would, no dd
not doubt, IN very many more lnstdhccs CnaHSo Pio
prictors but it would still remain IN the country ieav-
ing us in possession Of all the substantial elements Of in
diyidual happiness and national greatness. He saw
nothing in the present crisis to produce dependency,
but much animate hopes, in looking through the
perspective OF the future No country EARTH he be-
eved possessed in higher degree, the faculties OF self
recovery. Its onward course might be retarded for
very short period but could not be arrested by the causes
| now operating.
He could not admit that the country so ABSOLUTE
ly dependent on banks for its prosperity was sup
posed by some. As citizen Of this Republic, he should
feel Inundated to make such admission. The true
sources Of its prosperity to be found in the enter
prise and industry Of our citizens in the inexhaustlbe
natural resources in which abounds, and IN our free
government which, by protecting each citizen IN the
enjoyment OF the fruits Of his labor, quickens enterprise,
and invgoraes exerton notwithstanding these views,
he was, however, far from either expecting wishing
the abolition of the paper system the most that could
be effected to subject it to sautary restrictions by
lcssenng it's capacity do mischief and to nnse into
it greater proportion Of metallic currency These cor
could be applied only by the joint agency Of the
States and the General Government which were de-
handed well by the public voice, the best interests
Of the country He repeated, therefore, that he saw
nothing in the condition Of the country to inspire alarm,
nothing that the public virtue and intelligence were not
fully able to meet, and in short time TO overcome.
For this had the best guaranty in the abundant ca
paciiy which the nation had shown above all DIFF
hculties, in seasons infinitely trying than any to
be found in its present condition.
| From The Nrp York Daily Ners.
| nppocrcroN u-o MEDruA NTS