The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-08-15
nov. 8. cnANrLAND, OF GEORGIA.


Of some letter writer, in relation TO the votes
he gave on the questions Of The Mississippi
contested election, and the sub-freasury, thus
expresses his views;
The Washington correspondent has thought
proper to arlaign before the public for what he Is
pleased 10 call my political sins. What are they 2
He alleges that my vote on the Mississippi election,
and my opposition TO The Sub-tfeasury scheme are
IN violation Of my duty 10 my party There is,
however, in my opinion, duties which the Represen-
lative owes 10 himself and 10 his country paramount
TO any due to party These 10 do justice, and to
vote on questions that come before him with indie
pendence, according 10 the best dictates Of his udg
ment--aciing with his party whenever he can do so
conscienfionsly but when he cannot do this lei his
course be such as 10 secure his own sefesteem.
entertain The opinion that the Governor Of Mis-
sissippi had no legal authority TO order election
for members Of The 25lh Congress. Apparently con-
scious Of this himself, bul wishing 10 have his State
represented in the extra session, end being unwilling
10 incur the expense Of calling the Legislature To-
geher TO pass an act for the purpose he issued his
proclamation, ordering an election 10 be held for
members 10 serve In The extra session. The House
OF Representatives during that extra session, de-
cided that Messrs. Claiborne and Gholson (the mem
bers elected for that session only were entitled 10
hold seats during the whole Of The 25lh Congress
say ill the 4th Of March, 1889 In November fol-
lowing, Qhe time fixed BY law for eiecting members
OF Congress IN Mississippi) Messrs Prenliss and
Word were returned as duly elected members Of the
10Th Congress. They accordingly presented their
commissions and claimed their seats IN December
last. Here then was question 10 be setied-not
mere party question; but one Of high order--a le-
gal or constitutional one. Claiborne and Gholson,
relying on the decision Of the House in their favor
were not candidates al The November election, and
but few of their friends voted for members Of Con-
gross Early in this session, he decisioi in their
favor made in October, was reversed and the cleo
ton sent back 10 The people voed for The reversal
and also against The right Of Prentiss and Word
that Is, for new election on these grounds because
the first election was, in my opinion, Illegal; and
the second not fair one, the people Of Mississippi
having been led into by the improper decision
Of the House For these votes, no honest man
censure me. But the Washington correspondent
thinks, suppose, that ought 10 have voed for my
party, without regard To law or insiicethst should
have cast my vote in favor Of MessIs Claiborne and
Ghoison, right or wrong, without reference to the
merits Of The In This, beg leave 10 differ with
him, II he had been in my situation, would he have
perJnred himself To serve his party 7 Whatever he
may be capable Of doing no such avowal will be
made by him.
am opposed to the Sub-treasury scheme, because
believe lis operation would be niudicious TO the
country The clause of the bin requiring the pay
ment Of the public dues in specie | consider par
ticularly Objectionable. Denmark and Sweden,
Russia, Austria, and nearly the whole Of despolic
Europe-a century behind the spirit OF the age--are
what are called hard-money governments The
condition Of their people Is as wreched as their
forms OF government are obnoxious TO us. In agr-
culture commetce, manufactures, and internal i'm
provements, they are as far behind those of Great
Britain, where banking institutions prevail, as they
are inferior to them in general intelligence.
The specie circulation of Great Britain Is estima-
ted NJ 500 900 900, and that Of France at nearly
Ss600,00O,0O0. The Bank capital of The former is
about s60 600 600 while that Of the latter is only
$40 900 0C00. With this Great Britain, BY means
Of her bank capital and issues OF paper, ou,s,rps
France in commerce and manufactures, and keeps
even pace with her in agriculture. The French
Government, aware Of this, are rapidly increasing
their banking companies. Its Minister Of Finance,
in 90 order recently issued to The collectors OF the
public revenue, says: My views are, that banks,
legally constituted, should receive all those develop
m ns, and enjoy that success, which shall enahle
them 10 afford TO commerce end industry me adVan-
tages contemplated by their institution = and he ac
cordngy instructs the public officers TO receive bank
notes specie Thus, when France, which has
heretofore had a currency chiefly metallic, is en-
eonraging the increase Of her per crcu lion, our
Government is aiming 10 curta il not TO discredit
j.. Suppose the Stale Government, as well as the
General Government, should refuse to receive the
notes Of specie paying banks for public dues and
taxes would not HE people also refuse them in
payments TO one another, and require specie In
what condition would this place all who are in
debt, especially If the banks required as they would
b. compelled 10 do, prompt payments from their
debtorS2 The bnk notes in REGULATION are suii-
cenl TO paylhe debts due III the banks BY individuals
and where would the specie be got to discharge the
balance II would afford the stockholders in banks
as good an opportunity they could desire TO buy
property at neutrality-suspicious. for less than half
its value. @:.#.
During our last war with Great Britain, when the
credit OF the Government was almost annihialed
and Treasury notes generally re fused especi-
ally at the South, the much abused ate banks afford
ed The means Of ciTTving IL 10 glorious tcrmi-
nation. Throughout Mr. Mpnroe's admini<r; lion,
the Government afoTded 10 the banks its encourage
ment and aid in resnming specie payments, after the
suspension caused BY the war In report made by
Mr. Crawford, as Secretary of The Treasury, ii is
proved that the losses to the Government by the
pnyment OF banks fiscal agents, were then half Of
one per cent. in collecting three hundred and fifty
millions of public revenue The present Secretary
OF the Treasury, Mr. Woodbury., in his report Of
1884, says: Individual agents, (Sub,ireasurers,)
will probably be found less responsible, convenient,
and economical" than banks For these reasons,
am unwilling to trust individual agents with the
keeping of the public treasure in preference 10 in
stitutions with capital ten times large any
curly that could be given by Subtreasurers.
Again he says:
II is commended, however, BY the friends Of the
hard money scheme that the blnkS have forfeited all
confidence. now and forever, by ceasng TO pay Spe-
Gle. This was the necessary consequence oil their
too great issues Of paper for which admit they
blameable; bur they are not without excuse and the
Government itself should bear It's full share of the
blame, for having stimulated them 10 make loans
on the public money deposited with them for safe
keeping
MIR. q. says:
I was one of those who preferred the keeping of
the public moneys special dcposic in The soundest
banks Of The country--no allowing them 10 use il,
bu, paving them proper compensation for their
trouble. The advocates OF the Sub"ireaSury bill,
and the friends OF Nation b tk we're, in the
general equally opposed ID this measure-he safest
and best, in my opinion.
Mr. G.. in quoting from General Jackson's
message Of 1886, the following, has fur
nished evidence which comes somewhat in
conflict with his special deposite views. Said