Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1838-04-27
Tur ADMINISTRATIONS AND rnE BaNrs. We

TIE ADMINISTRATIONS AND THE BANKS. We
pty the men, whether they be editors Of loco
f,co journals, Members Of Congress or in any
other situation, who are callrd TO vindicaie and
defend the course Of the Jackson-Van Buten
party ia regard to the currency and the Banks
Never was party placed in more awkward
and unpleasant position than that in which the
few remaining loco l;bco supporters Of MIR. Van
Buren, find themselves at the present moment.
They set out with a war against the National
Bank, because, refusing ms il did most decided
" TO become party engine, IL Stood directly
in The toay ofihe administration IN their plans
for using the control Of the public money 10
promote the Interests Of their party. The
excuse was that the public funds were unsafe,
and they were therefore transferred to the
vaults of the Pets. These were extollcd by
Gen. jackson and the party to the skies, and
lauded as competent to afford a Far safer, and
more convenient currency than the u. S. Bank,
and 10 furnish equal or greater facilities than
that institution in the negotiation Of domestic
exchanges. The Wings protested in vain
that disappointment and ruin would result from
this " experiment." as they did once in Former
years when similar one was tried A short
trial sullccd to prove the truth Of their proph-
ccies. The great regulator being removed in
the destruction of the National Bank. the der
angement Of the whole currency of the county
ensurd. The pet banks once 81 extpllrd, lei
the way 10 a suspension of specie payments
Immediately, tie almiaist alton and its l;iends
turned about and denounced their own
| rs nj ..f IL. y
rising, aud the cry was soon started
+" down with all banks" let .here b. "
divorce of bank and state" From ih mo-
ment all the encigi,s ol this party Of destruci-
ives were bent upon the entire prnstlaiion of
the banks and the credit system. Ha d money
an exclusive specie currency, was the watch
word Of the party. Bank bills were prose. ID
ed--ihe sub-ireasury system was proposed, aud
M Efforts were spared to accomplish The pur-
pose of placing The whoie rerenue of he eoua-
try in The hands and under The control Of The
administration. But the people by this time
began To see through the policy of the d, sgn-
ing leaders ui the party, and their voice was
heard at the ba!iiings. The plan did not sue
coed. The sub-treasUry scheme " was no go"
the banks mainly Except those which had
been brought within the communicating embra-
ccs uf the government,) survived the shock and
were abb. successfully - resist all the attempts
OF the loco f0cos 10 destroy them All at once
the policy Is changed. The leaders Of the
same party which few weeks since were unit
ing In full chorus IN the cfy i1r " the divorce
OF bank and state" now suddenly change their
tone, and offer all the all uf the u. = govern
ment and that Of the state Of New York Ia the
Banks, II by 50 doing they can persuade them
Ia premature resumption OF specie payments
which should result in another speedy suspen-
sion, which they holei would give the finish
Ing stroke To the credit system. This then is
the present position Of the government. What
their object is, il is not diliicut to perceive
That they have any love for the banks or sim
ceTe desire To aid them we see no proof
The following is most happy Illustration of
the subject.
From the Virginia Times.
The great Prerogaiire Of Strength is mol 10
be AFRAID Of do,ng righL"
Thus saith Mr. Bijdr and with him il
is not u mere saw, Il hackneyed PHRASE
! He acts upon il, aud up TO it, III, refuses.
I p"SNNt'N "bN piuuipiNs w uS NiAti OF ca
Joled INTO a resumption OF specie payments.
until the altered condition OF the country.
and, above all, the altered fpas and temper
OF the Government. jusiiics it, lie saws
= be will no, be driven Into rash and pr;.-
lous enterprises by lae d'ead Of beng thought
Teak"
The Government, with its patronage and
power, It's safes and rs raaiiS, stands array
ed against credit Conscious OF It's power.
it solicits an embrace an interview. But
Credit, perched in a place OF comparative
safety. inaccessible to the hostile approach
es oil her willy and powerful antagonist pru.
IDENTITY retains her position. and disappoints
the sanguinary purposes OF the enemy -
Esop three thousand years ago. furnished
mankind with n fable, (ihe Fox and the
Cock,) which is in some respects the type OF
the scene now enacting:
Fox, passing near farm-yard, espied
fat. well-ieathered Cock at roost, on n
limb out Of his reach REWARD, anxious
to cultivate n closer acquaintance with this
lord OF the barn-yard addressed him thus
Friend, have you heard the glorious news2
| A treaty OF peace and eternal friendship has
been entered into between the Beasts and
the Fowls. Hencciorh, affection and con.
tidcnce will obtain between your race and
mine, and between you and myself pray
thee come down. and let me, at my ease.
give You the particulars Of this most hap
1 Ply reconciliation
The Cock Ia little too wary 10 be