The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-10-17
POLITICAL.
STATE OF NEW YORK.
CONSERVATIVE MEETINGS.


The Conservatives OF Bainbridgs at a large meet
ing on the 2ad ul passed the following resolutions
Resolved That the title OF Loco Foco, justly and
legitimately belongs TO the administration party. II
has been earned by It's increasing and bitter opposi
tion the currencyo The regulation olthe deposies
by iaw-to the credit system OF the couniry-to its
commerce, its agriculture, It's manufactures, and TO
its general industry.
The proofs are TO be found, lst In the attacks Of
the Globe the official organ Of the Executive, upon
the commercial men of the country as body, and
upon the State bank institutions The object of these
attacks cannot be mistaken followed up as they have
been by subsequent recommendations of The Execu-
tive. II was 10 destroy the currency OF the States
established by the States and for their own conve-
nience-o place most Of the specie in the custody of
the President without restraint of law, and to bring
to the footstoo of the central federal power, the
sovereignty of the States I'd, In the efforts OF the
Loco Foco party to defeat the suspension law, the
effects of which would have been 10 place in the
hands Of a Receiver in Chancery, TO be forcedlyand
hastily wound up the affairs of all the banks in the
State. The destructive consequences of the com
pnsory collection Of seventy millions of dollars due
from the people To the banks, need not be dwelt
upon. A general and wide spread scene of ruin and
bankruptcy, would have been the inevitable result
Sd, In the recommendation by the President of
bankrupt law as applicable to banks and banking.
Such law at blow would have put into legal
train Of immediate collection some $50 millions Of
dollars OF loans and discounts, due from the people
to the banks would have annihilaed 100 millions of
our currency, would have produced the withdrawal
OF 100 millions OF private deposites, would have de-
srUysa the value o. all y s6a aSX
rism resting ON an exclusive metallic currency
more bold, impatient and unblushing attempt to obtain
possession of the money power and through that the
political power of the country was never presented
70 free, or any other people So eager was Mr.
Van Buren, to control the whole currency of the
country, as he would have done, had bankrupt law
passed. through the hard money fiscal operations of
the Government that he hesitated not 10 recommend
its adoption, Notwithstanding his denuncaion of the
measure as unconstitutional when Senator of the
United States! 4th, In the untirng and factous
opposition Of the administration members of Con-
gress to the resumption of specie payments by the
banks-a measure deemed by every friend OF the
prosperity OF the country of the highest Importance
They would not even vote TO consider resolution
declaring substantially that the Government felt no
hostility to the banks, and would use all its constitu.
tonal power TO aid them in their audabe efforts to
resume 9TH In the obstinate refusal of the Presi-
dent to rescnd the specie circular in defiance of an
almost unanimous vote Of the peoples representa-
tives, thereby showing contempt Of the popular
will, and determination to prevent resumption
9TH, In the recommendation of the Sub-treasury
system-a system which, stripped of its DISCUSSES,
would fasten upon the country a government bank
over which the President through the creatures OF
his will would have the supreme control This was
to have been the ercnean club in the hands Of the
Executive, TO proStrate in Loco Foco dialect the
Hydras OF State banking institutions of State cur
rency, and of State sovereignty With this power
ful engine-with all the State bank institutions in
ruins, II would have crushed beneath II our cons,i
tuition and our liberty To get control of this fear
fu engine, no means were eft untred by the Presi-
dent. Having been thrice signally defeated by the
immediate representatives of the people, he attempt
ed through his confidential adviser, in the Senate of
the United States, Mr. Wright to repeal the deposite
lava law containing many important provisions
for the safety of the public money one of which re-
CURED the banks, on the requison of the Secretary
Of the treasury give adequate security for the
n fprth aap Sf,lt H. S,,L
treasury would have been in full operation in its
most revolving form, and the President would have
been in possession of the public treasure without the
slightest legal restraint
Resolved, Therefore, That Mr.. Van Buren, has
placed himself al the head of party, which seeks
TO build up its power upon the ruins of the best in
terests OF the country. As friends to that country
devoted to its Republican Institutions and sincerely
praying Tor their perpetuity will use all honora-
Bile and constitutional efforts to oppose him and The
mad projects Of his advisers.
Resolved, As the administration press and the
administration members OF Congress, in their ad-
dress TO the people, have appealed from the decision
OF Congress on its verdict against the Subtreasury
TO the people, that Triors Of that appeal we viii
be found in favor OF the people, against the President
ana MS most OF sycophants and oiice-hoders. That
IS now the true issue. The ghost of the defunct
United States Bank is marched across the political
stage, by the wreworkers OF the party 10 brighten
weak men from their propriety." No statesman
proposes to disturb its ashes Il will rest in peace
When the potent voice of public opinion shall speak
its resurrection We republicans obedient to the
declared wishes of the aority, will acquiesce In
the mean time we will not be led by Loco Foco de-
vices from the true issue. Sufficient for the davis
the evil thereof" We will first attempt TO put down
the agrarian and Loco Foco projects of the time
When the period arrives to pass judgment upon
other great national questions, we will be found at
the post OF duty-duty to our country and to the
cause of Republican Liberty
Resolved, That the Spartan Band" Justly so
called, who at the last Congress came to the rescue
OF the country are entitled toshe unqualified praise
and heartfelt gratitude of every friend OF her pros
perty.
Resolved, That the course pursued by the Hon.
G. Clark, (our fellow-townsman,) in Congress, in
regard to the .Subtreasury and other ultra measures
Of the administration, meets with our cordial ap-
proval.
HENRY REDFIELD, Chairman
S. S. NICHOLS, Secretary.
SCHENECTADY COUNTY.
AT meeting of the Democratic Repubican elec-