The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-03-17
NO. 81.

The proofs on this subject are brief but ,bey a,s
clear direct and plenary IL is impossible for any On
biased mind to doubt for moment about them. You
SIR, will be surprised, when shall array them before
you, at their irresistible force The first that shall
offer 10 extract from Mr.. Van Buren's letter OF ac.
ceptance Of the nomination Of the Baltimore conyen.
ton, dated May 23d 1885 In that letter he saws
content myself on this occasion, with saying that
consider myself the honored instrument selected by the
friends Of the present administration 10 carry ou ii,
principles and policy; and that well from inclination
as from duly shall, if honored with the choice of the
American people. endeayor generally 10 follow in the
footsteps OF President Jaeksonhappy il shall be able
perfect me cork which he has glonously begun"
Mr., Van Buren, announces that he was the honorcd
instrument selected by tho friends Of the present adj
minsrsion TO carry out IFS principles and policy The
honored instrument That word, according TO the
most approved definition, means TOOL He was then.
Inc honored tooi-to do what to promote the honor
and advance the welfare, OF the people of the United
States and TO add TO the glory OF his country! No no.
ms country was not in his thoughts. Party, party
hed mo place IN his bosom which country should have
occupied. lie the honored tool 10 carry out the
principles and policy of General Jacksons adminstra
ton; and, If elected he should as well from inclination
Us from day, endeayor, generally TO tread in the foot
steps OF General Jackson-happy if he should be able
20 perfect the work which he had glorously begun
Duty to whom TO the country, TO the whole people of
the United States No such thing; but duty to the
friends Of the then administration and that duty re-
CURED him to tread in the footsteps Of his iusrons
predecessors and to perfect the work which he had be-
gun! Now, the Senate will bear in mind that the most
distinguished features in General Jacksons admnistra-
ton related TO the currency; that he had denounced
the banking institutions of the country that he had
ovenrown the Bank Of the United States that he had
declared, when that object accomplished, only one
hall the work completed that he then commenced
war against the State banks ia order finish The other
hall that he constantly peiseyered and never aban
doned his favorte project Of great Government Trea
sury bank; and that he retired from the Office Of Chief
Magistrate, pouring out in his farewell address, anshe
mas against paper money, corporations and the spirit of
monopoly When all these things recolected, it is
impossible not to comprehend clearly what Mr. Van
buren, means, by carrying out the principles and policy
Of The late administration. No one can mistake that
those principles and that policy required him TO break
down The local institutions OF the States, and dis
credit and destroy the paper medium which they issue
no one can BIO alta loss TO understand that in follow
ing N the footsteps Of President jackson, and perfect
ing the work which he begun, Mr. Van Buren, means to
continue attacking systematically, the banks Of the
States and to erect on their ruins that great Govern
ment bank begun by his predecessor and which he is
the honored INSTRUMENT selected to complete The next
proof which shall offer is supplied by Mr. Van Buten's
inaugural address, from which request permission OF
Inc Senate TO read the following extract 9 In receiving
from the people the sacred twice confded to nv
isous predecessor, and which he has discharged SO
faithfully and SO WELL know that cannot expect to
perform tho arduous task with equal ability and success
but, united as hare been in has eonnscis daily wit
unsurpassed
countrys welfare, agreeing irh him in scai,ne MS
which his countrymen have warmly supported, and per-
united TO parakc largely Of his confidence, may hope
that somewhat of the same cheering appreciation will be
found TO attend upon my path"
Here we find Mr. Van Buren, distinctly avowing. |
what the American people well knew before that he had
been united the counses of General Jackson that he
had agreed with him III sentiments, and that he had
paaken largely OF his confidence This intimacy and
confidential intercourse could not have existed without
the concurrence OF Mr. Van Buren, in all these leading
and prominent of his friend which related
the establishment Of government bank the overthrow
OF The Bank of the United States the attack upon the
State institutions, and the denunciaton Of the paper
currency, the snrt Of nonopoy. and cornorations Is
entertained all these sentiments, without Mr. Van Blu
rens participation! t..t
proceed to another point Of powerful evidence, in
the conduct of Mr.. Van Buren,, in respect TO the IA
Treasury order, That order had been promul-
gated, originally in defiance Of the opinion Of Congress-
had been continued in operation in defiance OF the wish
and will Of the people, and had been repealed by
bill passed at the last ordinary session of Congress, by
overwhelming majorites The fate of that bill is well
known. Instead of being returned TO the House in
which it originated according to the requirement OF
the Constitution, sent to of the pigcon-hoes
Of the Department of State, to be filed away with an
opinion Of a convenient Attorney General always ready
prepare in support Of executive encroachment
On the 9Th Of March last, not doubt was entertained,
as far as my knowledge belief extends, that Mr. Van
the Senator from Missouri, who sits near me, (lr
Inn) the Senator from Mississippi who sits arthes
from me, (Mr Walker to the Senator from Alabama.
(Mr Kng,) and 10 the whole of the administration
Senators, If such not the expectation Of all Of them
Was there ever an occ asion in which adminstra
ton had so fine opportunity to signalzs its com
mcncement by act OF grace and wisdom, demanded
by the best interests and most anxious wishes OF the
people But Mr.. Van Buren, did not think proper to
embrace it He had shared too largely in the conf
If ala prpler "A
his counsels to rcsclnd order which constituted so
essential part Of the system which had been debe-
ratoly adopted to overthrow the State Banks.
Another course pursued by the administration, after
the catastrophe of the suspension OF specie payments by
the banks, demonstrates the hostile purposes toward
them Of the present administration When a similar
had occurred during the administration OF Mr..
Madison, did he dscredt and dscountenahce the issues
Of the banks, by refusing to receive them IN payment
Of the dues to them, respectively! And II Tredeema-
bic bank notes good enough for State Governments
and the people, they good enough for the Federal
Government OF the same people by exactng specie,
in all payments to tho General Government that 60
vernment presented i'll the market as powerful aud
formidable competitor with the banks demanding specie
at a moment when the banks making unexamp!ed
struggles strengthen themselves and prepare for the
resumption OF specie payments. i he extent oil TINS
government demand for specie does not admit OF exact
ascertanment but when we reflect that the actual ex-
pendures of the government were at the rate, incnd
ing the Post Office Department, oil about thirty three
millions OF dollars, and that its income, made up either
OF taxes or loans must he equal sum- making ,oge
Their aggregate Of sxty-six millions 1t Will be seen
that the amount Of specie required for the use OIL 60
vernnent must be immensely large II cannot be pre-
cisey determined but would not be less probably than
fifteen or twenty millions of dollars per snnum. Now,
how is it possible for the banks coming into the specie
market competition with all the vast power OF IN
/ fuence of the government, to provide Themselves Win
specie in reasonable time to specie payments
That competition would have been avoided, II upon the