The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-11-07


State rights republican who would deny t) IL neces-
sarily follows thai system OF bankruptcy emanating
from federal power, by which the Stale banks may
not only be arrested in their operations but swept
out Of existence upon The happening OF sueh conn-
gencies as might be prescribed Is clearly unconsli-
iutious and dangerous. IL the federal government
has this power II may, in lis wanton exeieiSe enec-
tually paralyze and destroy The power OF the States
create such institutions, by obstruciing their oPe-
rations and sweeping them out OF existence we
regret that the President has changed his views upon
this question from those which he entertained 10
1928, but We rejoice that Congress did mol respond
10 this recommendation by enaciing u INTO law
BY this scheme The Stale banks would not only nave
been left al The uercy of the federal government but
host OF federal officers in the OF commission
eIs OF bankruptcy would have been introduced INTO
all Of the States Of the Union 10 the great enlarge
mcnt OF the patronage of the government, and IN
crease Of public expenditure. We ask the friends
Of the State governments and oi Stale rights, whs
Their they are willing to surrender into The hands OF
federal power already so fearful this mighty engine
Of destruction, to this important right With the
control OF the immense revenues Of the nation, and
this power over the monetary institutions OF The
States, what is il that money can achieve that may
not be achieved by federal power We Tor one are
not pre- pared 10 submit to this claim Of power not
wirhsianding the high respect We entertain for the
President for atho' II might be harmless in his
hands, i may not be in those of his successors
Another pendant upon this mighty engine Of fede-
raj power was the proposition TO authorize the Sc
cretary Of the Treasury 10 appropriate TO the pur-
chase Of eaiag State stocks all surpluses Of the pub
lie money exceeding four millions OF dollars. II this
scheme had been adopted, the broadesi AMI most d.
rect road to The corruption Of the States and the peo
Pile, would have been opened which has ever yet
signased federal legislation. II held out the very
strongest temptation 10 The accumulation OF hrneS,
for The purpose Of purchasing power and influence
over the States, which human ingenuity Rheiled by
ambitious aspirations, could invent The people
would have submitted the taxation from the delu
sive hope of benefit from the appropriation until
they would have been bound BY letters which they
could not have broken. We, are gralihed that This
scheme was not recommended by the President, and
that il was promptly rejected by the Senate. Yet II
reported in the Sub-treasury bill, and serves to
expose in all the nakedness OF its deformity, what
some Of the immaculate and exclusive republicans
Of the present day would do. We will not offer any
argument Of our own to prove the horrid deformily
of this proposition but will content ourselves with
quoting the following passage upon this subject fIom
General JackSon's second annual message:
Eziraet from. Gen. .,aekson's second Message
"In speaking Of direct appropriations, mean not
to include practice which has obtained to some
extent, and 10 which have in one instance, in
different capacity, given my assent-hat OF snbscrib-
ing 10 the stock Of private associations Positive
experience, and more thorough consideration Of
the subject, have convinced me of the improperly
well as inexpe iency Of such investments. All inn
provemenls effected by The funds OF the nation Tor
general use should be open to the enloyments Of all
our fellow-citizens, exempt from the payment OF
tice OF thus mngling the concerns OF the govern
ment with those Of the States or Of individuals is
inconsistent with the object of its institution and
highly impoliiic The successful operation Of the
federal system can only be preserved BY combining il
TO the few and simple, yet important objects for
which il was designed A different practice, if al
lowed to progress, would ultimately change the cha
racer of this government by consolidating into one,
the general and Stale governments, which were in
tended to be kept forerer distinct. cannot perceive
how bills authorizing such subscriptions can be
otherwise regarded than as bills for revenue and
consequently ect TO the rule in that respect pre-
scIibed by the constitution II the interest OF the
government in private companies is subordinate TO
that OF individuals, the management and control OF
a portion of the public funds is delegated 10 an au-
thority unknown 10 the constitution and beyond the
supervision OF constituents; If superior, its Of
cers and agents will be constantly exposed TO impu-
taons of faroritiSm and oppression. Digect preju-
dice TO the public interest, alienation OF the
affections and respect Of the portions Of people, may,
therefore, in addition 10 the general discred result
ing 10 the government from embarking with its con.
Stituens in pecuniary speculations be looked for
the probable fruit of such associations. II is
this objection 10 say that the extent of conse
quences like these cannot BE- great from limited
and small number of investments: because expe-
rience in other matters teaches u.s. and moi
liberty 10 disregard its admonitions, that unless
entire stop be put TO them, il will be impossible 10
prevent their accumulation until they are spread
over the whole country, and made TO embrace many
OF the private and appropriate concerns OF indiV.
duals, The porer which The general government
would acquire within the several States by becom-
ing the principal stock holder in corporations control
ling every canal and each sixty or hundred miles Of
every important road and giving Proporttorafe
r0ie in all the elections is almost ineonce1rdbe, and
in my view, dangerous to The liberties o The people
This mode of aiding such works is also, in its ma
ture dcceptire and in many cases conducive to i'm
providence in the administration of the national
funds. Appropriations will be obtained with much
greater facility and granted with less security TO the
public interest, when the is thus disguised
Than when dfaite and direct expenditures are asked
for. The interest of the nation would no doubt be
better served by avoiding all such indirc1 modes of
aiding particular objects In government like
ours especially should all public acs be, as far
as practicable simple andsgMfsed and iatcug
they may become fiji subjects for the appreciation
onimadrcyaon of the people"
But perhaps may be irdiscreet in thus refer
ring to any ofthe doctrines Of General Jacksons ad
ministration; for it seems that although then, they
were strictly republican, aop they have become
odiouS federalism. and in still urging their orthodoxy
we NAV subject ourselves 10 the charge of desrti0n
reachcry 0postacu, and political ieeathereo cksm by
the unchanged and anchang eabie priests, who have
usurped and now minister in the pupits of The
orthodox republican church, and who are SO buSily
employed in the work of communication against
heretcs, TO forget that there is God 10 whom
they owe obedience and ar0rship-and TO whom they
are responsible. Who does not, at glance perceive
that this scheme, however gilded in appearance is
most fatally delusve, and like the dead sea fruits
"Tempt the eye, but turn to ashes the ps!"
Who, with half an eve, does not perceive the
power which 1t would have conferred on the federal
and the danger to which il would have exposed the
State governments We feel confident that the
people will fully appreciate the jealousy which was
excited against a scheme accompanied with such
deusive and dangerous attendants as these, and
which prompted such decided opposition on the part
Of those SO much prosecuted, denounced and abused
Conservatives, who ardently and effectively OPP
posed 1. Although scheme m