The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-05-29

this sweeping denuncalion is ushered forth against
all the CONSERVATIVES and their distinguished lead
erSl The Administration faulllesS, guililess! The
Conservatives and their leaders, are The enemies 81
me 0daiaiaration-he enemies Of epeoptc" These
| are no light charges They ought not TO be lightly
passed over They shall not be. The contrast be-
| tween the Administration and the leaders Of the
Conservatives is marked. Nothing could make ii
stronger than II is here drawn-nothing place the
parties in more anagoniStieal positions.
These leaders now stand ont the canvass in their
true. coors," says the Constellation. The Conserve
tive leaders and party do exhibit their true eOiorsi
| such as they have not and will not change. They
exhibtthe same coors now, they did in 1884 They
stand now exactly where they did then They support
the same policy now, they did then, which thatime
was the policy Of the administration. The Conserve
tyes repudae now, the policy they repudiaied them
the administration has adopted now the policy il
pudiaed then. Who has changeda Not the Con-
servatives.
In 1888, the President employed State banks as
fiscal agents Of the Government, and removed the
depoSiies from the Bank of the United States. In
1884, the friends of the Administration were sum
moned to the support OF that measure. That policy
became the established one of the Administration
Ii was adhered TO- in the absence of all legislation on
| the iubect an administration measure, until
June, 1886, when final action by Congress took
| place In relation to which MIR. Van Buren, suisse
quently said: The passage Of The deposite bill iciH
beregardedby The people pledge from all parties to
gre 10 The erstiae system phfch prccldes he idea OF
| a National Bank, a fair trial." In this, Mr. Van
Buren, committed himself in favor of the State Bank
system before the people Of the republic.
| This system, which commenced in 1888 continued
until May 1887. The principles on which il was TO
be carried out and the duties deyoving on the Go
vernment towards the people, in afiording facilities
to the public BY the use Of the revenues of the Go
vernment, were fully set forth by General Jackson,
in the paper read to his Cabinet ON The 18th Of Sep
TENDER, before and preparatory to the employment
OF State Banks as fiscal agents Of the Government.
| He then said: The funds of the Government will
! not be annihiiated, by being transferred They will
be Immediately issued or The benefit Of trade" Again
said he: 1t should also be enoined upon any banks
which may be employed that it will be expected Of
them TO- facilitate domestic exchanges for The beneft of
commerce; 10 grant all reasonable facilities to the
payers Of Tic public rerenne; to exercise tie utmost
| h5erality totrards the 0thcr State Baaks.n
Thus he admitted nay announced il to be the
duty Of the Government not TO lock up the moreys
collected from the people through the public reve-
benefit; as well as that, the duty of the Go
vernment 10 supernend through its agents. the re-
gulaon of the domestic exchanges.
To this system as well before as after its regula-
ton by legislation both General Jackson and his Sc
creary Of the Treasury, in their annual messages
and reports for three successive years, bestowed ap
probation in terms unqualified The system had
worked well; every thing had been accomplished
under il that had been expected as fiscal agents. in
collecting, keeping disbursing and transferring the
public moneys; and, also, in regulating and pre-
| serving uniformity in the domestic exchanges.
Such was the system in operation when Mr. Van
Buren, succeeded General Jackson, in whose "foot-
steps, he had pledged himself TO the American peo-
pie in 1885, when looking to them for their suffrages
generally, 70 tread" Has he redeemed that pedge7
We think not, We will will give our reasons for
so thinking. @
In six months afler Mr.. Van Buren, succeeded 10
the Presidential chair. he recommended an entirely
different and opposite course of policy in regard TO
the financial cysem of the government from that
originated perfected and left in successful operation
by his ilustrious predecessor. Mr.. Van Buren,
commended an entire separation between the banks
of the country and fiscal affairs of the government.
lie recommended that the public revenues should be
thereafter collected kept transferred and bisbursed
by the federal officers only. He recommended that
bank notes should be rejected altogether, and gold
and silver be employed solely in the receipts and dis
bursements of the federal revenue. These recon-
mendations tended directly TO annihilatc the public
moneys SO far as they could be used TO benefit the
people or commerce Of the country by being loaned
out when not required to meet the immediate wants
OF the government; policy that General Jackson
seemed exceedingly anxious to relieve the minds of
his Cabinet and the country from the apprehension
Of before the removal took place. AT the same time
Mr. Van Buren, stated it as his opinion that the Gene
raj Government ought not TO interest itself in regu
lating the exchanges ofthe country. How opposite
the policy and principles contained in these recon-
mendaions from the declarations contained in the
Cabinet paper of General Jackson's of September,
1888 There is nothing to be found in these re-
concentrations of a character corresponding with
the pledge made by Mr.. Van Buren,.
And why these recommendations Because says
Mr. Van b., of " rerulsioa; in which, at length,
they, (he depositc bankS,) in common with the other
banks, were fatally involved" This new
circumstance. He informed us that it had occurred
on 1.-TWO occasions previously" This, General
Jackson was well aware Of, when he adopted the
system as his own measure" Mr.. Van Buren, was
we'll aware of it when he said, the people of the
country considered all parties pledged to the system
by the passage Of the deposite bill All who support
ed the measure and the administration in 1884 were
aware Of il also. .-4a. .a
Upon Mr. Van Burens own principles, we will
show that this pretext will moi bear him out and,
his recommendations founded on it, stand condemned
BY himself. In his inaugural address, he said,
Overlooking partial and temporary erils insepa-
rablc from The practical operation Of all human inai