Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1838-05-04


loco Foco leaders to persuade the public, that
1.-THE true issue between themselves and the
Wings is, whether the government shall act
Independently or under the control Of the banks.
With this cover they hope to hide their true
+, design, ofplacing The control Of the public req
~cnues in the hands of the President. To this
all their financial measures tend, and it must
be apparent to every candid mind, that the true
point at issue between the two great political
parties of the nation at this moment is, wHETH-
Err THE PURSE AND THE SWORD SHALL BE
UNITED in THE HANDS OF THE EXECUTIVE
This was the great evil and danger, against
which the old democrats Of the Patrick Henry
stamp, warned the people at an early day
This" said they, "wi be the rock on which
our republic will one day founder, unless II be
scdulously guarded against. The time will
come when some popular and designing man,
holding the sword of the Presidential office,
will seize the public treasure, and when he thus
unites in his own hands the sword and the
purse, farewell to our liberties"
To this end, the measures Of Gen. Jackson
tended with rapid course. But fortunately for
our country and for the cause Of liberty, the
attention of the Wings was soon aroused by
his bold movements, and at an early day they
began to sound the notes Of ALARM Fortunate
" too, from the example of the Father of his
country, President Washington, the term of
the presidential office, had been by common
consent limited to years at the extent; and
although come vf his partsuns broaohcd the
design of re-electing Gen. Jackson, yet it was
not thought prudent to attempt carrying il in
to effect. He was therefore obliged to retire
before his measures were brought to crisis
His successor the present incumbent, did not
possess 1.-THE of the popularity or decision OF
his " predecessor" and the disastrous results
of the " experiments" of the predecessor"
beginning early to develop themselves, the eyes
of the people were opened, and the result has
been one of the mos. remarkable political revo-
lutions to be found recorded in the annals Of
our republic.
While national bank was in existence, which
refused to be made an instrument of party, it
will be at once apparent that it was mighty
barrier against the design alluded to. Hence
its destruction was an object of the first import
ance; and this was for the time being, the
main effort Of the President and his supporters.
Having succeeded in accomplishing this, and
having placed the revenues in the care of banks
controlled and managed by their own partsans,
Notwithstanding the remonstrance and protest
men and party 10 general, the work seemed
about to be accomplished; and but for the dis
astrous commercial effects of the specie circular
and the removal of the deposites, and the des-
truction of the U. S. Bank, deranging exchan-
ges, causing suspension Of specie payments
and one wide spread and general scene of de-
vastation and ruin through all the ranks OF
trade, the plan would perhaps have been con-
summated.
Failing in this course, and having made the
local Banks their tools as long as they could
use them to advantage, the Loco Foco leaders
cast them off and raised the war cry Of /" di-
vorce of bank and state" This was to be ac-
complished by the Sub-Treasury system-one
of the most dangerous measures ever proposed
in our country and an entire novelty among u.s.
To the accomplishment of this measure all the
energies of the party are now turned; and not
less strenuous and untiring are the Wings in
their opposition to this new experiment.
What the result Of the struggle will be it is not
difficult to foretell. New York, Rhode Island,
Maine, Connecticut, Vir., one and all proclaim
that system so miserably adapted to a great
commercial and civilized people and so evident
iy tending to union Of the purse and the
sword in the hands of The executive, will never,
no never, be adopted by this enlightened ma
ton.
As for the Banks, the interests of the Wings
are no father identified with them, than are the
interests OF the country. We believe that such
institutions tceu guarded and managed, are ar
essential convenience in trade and commerce
They are the result of civza ton, and i'm
provement upon the monetary systems of des
potisms and the dark ages. So far from the
controlling the government or being mad,
tools of party, we have always advocated thei
entire separation from the government, except
y to be made use of in the same manner as they
are by business men generally. Ii is the Jack
son-Van Buren, administration which has en-
deavored to marry them to the government
They began with the U. S. Bank, but she de-
clined their addresses. They then wooed ane
won Mrs. Dry Dock, Commonwealth and 9th
ers, but the union did not prove happy on,
and they now petition the people for divorc,
and if they succeed, intend to live the remain
der Of their days in single blessedness; indie.
pendant of the banks, and ultimately of the
people themselves.