The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-08-18
From the Albany Daily Advertiser, July 81:
RANK AND STATE

There has been great deal Of cant put forth in
some Of the Van Buren, presses for year or two
past, about divorce of Bank and Staie"-a sepa-
ration Of the political and the money power. When
The cach-phrase was first started-in the New York
Evening Post lit found favor in few eyes but those
of the editor of that print the democracy" looked
askant at The new conner, as If with an instructive
perception that in time, he would claim, if not usurp
the ascendancy. Mr.. Van Buren,, however has had
great Partially for cap-traps and confidence Of
their influence on the public mind He had suffi-
Client reason indeed with the evidence before him,
of what the cries of" Aristocracy" Bank bought"
Money King" /" Rock of Ages" &c. &c. had
done for his predecessor So he took the Divorce"
under his keeping and forthwith the more devoted
of his followers sung out Justify for Divorce"
Those who saw the falsehood and mischief of the
new project were chagrined and alarmed and many
Of them believing that their Captain had blundered
their craft into sinking condition. abandoned the
concern to the underwriters, and hailed and board
ed The Conservatives"
A precise and philosophical definition Of |" the
Divorce" has we believe never been given by the
adhering Van Buren, editors-lheir readers were
simply told that TO sustain il was Demoeraey'-to
oppose It, g Federalism"
We have met in Southern paper with COM
ment upon this meaningless phrase" a separation
OF the political from the money power"-which is
pleasing and ingenious exposition of the fallacy of
such an abstraction. The writer says,
"A separation of the political and money powerp
What is the meaning of such sentiments What
are the consequences TO which Il looks What is
the political powerl" II is the power relating to
the administration Of public affairs. In whom does
this power reside In the sovereign people. What
is the money power II mus, be the power acqur-
ed by the possession of money. What is money
The photographers define ii 10 be any metal coined
for the purpose of trade or commerce. Commerce
is intercourse, traffic, by which people exchange
commodities. Money is substitute for the commo-,
dities themselves, or the conventional representative
OF value for the greater facility Of intercourse or
commerce. Money may represent, cotton, tobacco,
rice or manufactures and these various commodi-
ties may represent money for either will purchase
the other. Money, therefore, is property. Where
does property reside, and how Is il produced Il
is produced by iabor and is dinsed among the labor
ing classes. Labor, says Adam Smith, Is The only
source ofwealth. The money power therefore
originates with labor, and resides with the laboring
classes Who are the laboring classes They are
the farmers, the manufacturers the mechanics and
the artizans who work with their hands and the va
rous other professions that contribute to the general
result BY the labor of their minds Do not these
classes comprise the bone and sinew of our country
The very sovereigns in whom resides the supreme
political power"--the majority of the people Nv
body can deny It,
Ifthen, both the money power" and the "po-
litical power" reside with the people, how shall
they be separated' Il is an obvious impossibili,y.