The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-01-27

Al meeting in Augusta and resolution passed the
same meeting, aud Published IN The Age
"The recent acts Of neighborng State render IL
particularly proper call the attention OF The people 70
the subject. We have seen tho Legislature Of New
York taking away al OF suits from the holders OF
bank notes who may wish prosecute their legal rights,
turning them over TO the highest Court which y the
most diatory aud expensive, and taking away all the
penenates which accrued 10 their benefit. They hare
robJed Inc honest bill holder Of all those SECURITIES upon
lrhIeh he Relied al the pery tne ThfA those seeuriies
became i,nporiaH 10 him This law at which the pIa-
teal Dyaa Of Alpiers would have hcstated was,
are informed by Il, friends, matured in conelaye Of
Bank Directors and passed with The most indecent
haste and unparalleled nnanlmity. This enactment
which would shock the moral sense oil the veres rob-
Der upon the high seas, dsgaees The Statute Book
OF negbboring State and Is every where received with
exultaon aud triumph by the friends OF banks Nor Is
the spirit which produced that law confined to the State
of New York Your Committee have reason TO know
that an attempt 10 convene the Legislature OF this Safe
for the same purpose, only prevented by the re-
ons,rsnces OF The most sagaelous, who better under
stand the inconupblc justice OF the honest yeonanry
Of Maine and who well know that their Representatives
instead OF trampng upon the rights Of property, anil
prating upon the rights Of bill holders, would have IN
tcted punishment where II was due, and taken away
the charters ofevery non-specie paying bank"
"a Resolved, That we consider the adopted
by the New York Banks TO be desperate effort 10
trcale spectators from ruin brought on by their own
imprndence and folly at the expense OF the more
tiona portion Of the community who preferred living
within the means TO living without the means"
BY the terms OF the charters Of the New York banks
part Of them forfeited their charters Immediately by
suspension, part in ten days, and part IN three
months, and without the suspension law, they must
have passed into the hands Of tho law officers TO be
wound up Aud yet we see this law, passed by lte-
publican Legislature and signed by Republican Go
.al Ia, he pIlas
reckless and indifferent to the interests OF the people
have the Loco Focos become.
The evidence Of hostility to the banks and deter
mnation to annhilate them, although coolly denied
if swords hut wind" might If necessary, be
multiplied TO volume, For the present purpose, we
shall take few extracts from the Age, some Of them
copied from other papers, and others editorial.
g And how can settled confidence in that system
[the banking sysem] ever-be attained while the de-
mocracy of the country deny its constitulionalily
and are bent on It's overthrow Their wisdom would
be- to fall in with the growing sentiment Of the poo
Pile and thus exert their proper share Of influence
in modelling change which they cannot resist =
~. " Post.
The following resolutions were passed at a meet
ing of the Equal Rights party in New York, who, to
show their respect for equal rights lately mobbed
Republican meeting in the Park
Resolved That the people be earnestly request
ed TO cndeavor by all possible means, TO retain The
specie they may have in their possession, TO the end
that il may not be used TO resuscate the Banks and
again entail misery and distress upon them.
Resolved, That the language reported by the Bank
press TO have emanated from our able and honest
Congressional Representative, the Hon. G. 9: Cam
breleng that the people have the banks on the hip,
and should keep them there, is the language OF the
Equal Rights Party; and we regard il as The wish
not only of that patriotic man-who has of main
tanned the equal rights of the peopebut as the reli
gious desire of all honest men 10 the utmost limits OF
the nation"
at will be seen that the President has issued his
proclamation to convene Congress on the hrSt Mon
day of September next. Doubtless this course was
taken as being deemed necessary for the protection
of the Government in its financial affairs against the
rottenneSs of the banking system. The federal and
bank party will take occasion 10 attempt to force up
on the country National Bank. But they will not
succeed. We believe that Congress will stand firm
and in addition 10 that the people have just elected
Chief Magistrate who is pledged TO resist it with
the check which the Constitution has placed in his
hands. We have no fears that he will shrink from
the responsibility.
The Wing President [Biddlel and his coaduors
have mistaken in this move, as in every other, the
indomitable spirit of the American people The
failure of the local banks TO fulfil their duties rs de-
positores of the public revenue will not force them
into the arms OF central monopoly with more pow,
er TO do evil and little ability TO resist general
prosration of credit The result must be total a.
rOrcenieRt of The G0rerRaeRt from all connection irt
BankS-a general currency Of geld and stfcer-a re-
fbSat on The Government 10 continuance or sanction
in ann icau a paper cHrreRcy-dRd erentuak{y dis
continuance Of ercry incorporated bank in The country
Tothis end will the people direct their efforts. The
fraud pracliced upon The Government and the public
by the bSnks and the monied aristocracy, will force
together in union of effort, which nothing can re-
sst that great mass of the community TO whom paper
money has ever proved curse, and whose rights
and Interests imperousy demand permanent and
substantial currency, above the control of any class
in the community, and unsolicited to the fluctuations
andexplosions of the bubble of mercantile credit =
Age.
Will not the performance Of the spirit manifest
ed in the above extracts, abundantly account for the
reverses of the Republican party at the late cleo
tionsl Was it not necessary for the well being OF
that party that those should be speedily cor
rected-that we should return from our wanderinSS
within the ancient landmarks where all may unite
and act in concerto This is the only course where
by we can retrieve our fallen fortunes. In union
there is still tower of strength, which the enemies
of democracy will in vain aSsail.