The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-02-13

They saw The manner in which the Sub yea aI'Sr
was urged at the extra session. They saw H. ~
official organ that aferilwas defeated in the Hon.
u was again 10 be forced upon Congress al The pre
sent session. and they clearly now thai ils ado
iion, at this time, will be fatal 10 the banks as,
blnkTupl law would have been before lis adonlio"
would prevent the resumption OF specie payments
VI II the banks should resume, ii would eomnsi
them TO stop again. Or IL they continued 10 nav
specie, u would be merely nominal thing and ibny
could do no business Ifihis were The proper oces.
SION, would undertake TO demonstrate these propo
sihons 70 The satisfaction Of every rational man
But did not rise for that purpose Suffice il n s,,
that u deliberate plan had been formed for the a.
tai destruction Of the mixing system OF the Who'll
county, - eoulu MOI nave been more skilfully de-
yised What was the process by which II waste he
accomplished Isl. By inducing the Legislature
not 10 interfere. I'd BY bankrupt law. al Re-
The Subireasnry scheme which is The only propoS.
tion now under consideration. Under H. The bapts
cannot resume; and ifthe Legislature grants no ar.
Their indulgence, their concerns must be closed nm
II they do resume, they will be compelled 10 sion
again, and they will be in The same situation as IF
they had mol attempted il. II they do moi stop viii
be because their circulation is all called in and thew
continue because they do business In This event
the stockholders will wind them up, for The reason
that they cannot afford 10 have an investment which
produces no income. In either case the result iS
The same-the destruction Of The banks. | have al
ready shown the disastrous consequences 10 the
whole community, from such a stale of lhings-spd
Twill add in the same language which ! EMPLOYED
The country that tornado or an earthquake should
spread It's desolalion around than that we should
have this scheme inflicted upon us"
Mr.. President these were some OF the causes
which produced the results OF The late elections in
New York. There was another. The people saw
the treatment which those received who opposed
these measures They saw some of their Repre-.
senaiives here pursuing The straight forward track
Of principle, and maintaining the ancient and ho-
nored creed Of The party; they saw them turning
neither TO the right TO the left crafty the amb
lion OF any man, or 10 court The favor OF any faction
they saw them maintaining The same principles
which the whole party maintained but short peri
cd before, and refusing to iurn about at the word of
command they saw them opposing measure
which the whole party, with General Jackson at
Their head, opposed in 1884, and which the official
organ OF the administration then pronounced " dis
organising and revolutionary" and manfully resist
ing the executive mandate 10 swallow the Subtrea-
sury scheme now, which they all repudiated then :
they saw l',m standing in their places, and with
that moral courage and undaunied frmness which
should evereharacerze the Representatives Of free
people, resisting the encroachments of Executive
power; they saw them, with an independence wor-
thy OF. the better days of the Republic, combating
the heresies and interpretations which were attempt
ed to be introduced amongst the ancient canons of
their political faith; they them endeavorng to
revive the dropping energies of the country, to re-
suscitate its trade and commerce, TO stimulate its
industry, TO invigorate its enterprise to give hope
and animation and life TO its benumbed and palSied
faculties, and TO pour consolation into the wounded
and broken spirits of the mercantile community
They saw all this; and they also saw, that far all
this, their Representatives were DENOUNCED AND PRO-
sCRfDED by the official organ of the admin isTaion
They saw the despotism which had been introduced
by the discipline of party They that neither
party men, nor The party press dare speak ,heiI sen
Executive will They saw the manner in which
the machinery party was brought into requsition
10 manufacture public opinion, to sustain that will
when il was once made known. They saw that
was M nd of ora f actiO
within the sphere of Executive influence. They
saw, in short, established at the Seat of Govern
ment the most perfect despotism on earth, THE DEs
PcTisM OPINION
Sir, this system of dctation, cf prescription and
denunciation commenced during the second term of
General Jackson's administration He would not
tolerate difference OF opinion on any subject in
which his feelings enlisted hope il was the
infirmy of age. might instance the Distribution
Bill, the Specie Circular and the Currency Bill In
all these measures the great body Of his friends in
both Houses were opposed 10 him. STILL the official
organ did othesitate TO maintain the Executive WILL
and to denounce the action and opinions OF those
who constituted the legislative branch of the Govern
ment
The present Executive on entering upon the du-
ties of his high station, promised 10 follow in the
footsteps of his luStTious predecessor" This Sub
treasury scheme is the darling project of the late
President I; and, ! presume, in pursuance of the
above pledge, IL has been brought forward for
consideration. To my mind, this is its only merit
and would be more DESTROYS than myself of
gratifying the feelings of that ilusrious man, and
Of smoothing the path Of his declining years, by the
did not tell me, il would be at the expense of the
great and paramount interests of the country. If he
himself were here in the zenith of his power he
perhaps, might see his way more clearly. But
when his successor attempts TO initiate his great
strides, he will follow him, as Iulus followed Eneas
from the flames Of Troy, baud passibus esais
Sir, my colleague (Mr. Wright) has spoken of
that portion of the friends of the administration who
nnDnS he nh.'V'r req chprnn oil
and with seeming reproach, has kindly extended 10
them his charity; and more than intimaes that they
ought to give up their opinions TO the majority Of
their friends Sir that small party are maintaining
the same principles which the whole party main
tanned but short time since; and the difference
between them being a matter Of principle, cannot
be compromised II is, indeed, small party, and
should on that account have been protected from the
apparent sheer Of the Senator from New Hamp-
shire, when he said they had assumed the name of
9 Conservatives" Whether that name has been
assumed by them, or has been given 10 them, will
not stop 10 enquire-Tbis much however, will
venture to affirm that we shall be as well satisfied with
that appellation, the gentleman and his friends
will be with The name of {" Subseyvatires :" with
which they have been honoIed and with how much
Justice leave to themselves 10 determine Sir this
small party has been, not appropriately, called "a
SPARTAN BASD"-and let me tell those gentlemen who
have reproached them with the peculiarly Of their
position, and the raucity of their numbers, that
when they asked 10 lay down their they will
give the Spartan answer" Come and take them"
Sir my colleague, from the peculiarly of his own
position, should have seen the indelicacy of com
menting upon ours The time has been when he
has been left in smaller minority of his political
friends than we are now; but, will do him the
justice to say that his opinions, on all matters in
difference have always conceded with the Execu-
tive And, had the Executive seen fit 10 recommend
the resu citation Of the State Bank deposite system
instead of the Sub-TreaSury, we should have seen
my colleague, with my friend from Virginia and
myself by his side leading on his faithful troops
and instead of the coiden banner under which he
is now fighting agans the institutions OF the States