The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-03-31

the business and prosperity OF The country Tor years TO
come, their scheme Is undoubtedly well calculated TO
accomplish the object,
Among the great OF The present embarrassment
Of our country, hear much said by the Sub Treasury
attorneys in caucus, OF the excessive importaons by
merchants aud the speculaons 10 lands and lots
May not be safely asserted that the late administration
encouraged these nportstons, to the preu.
dice Of American manufactures. II our government
have said the manufacturers aud operatives in foreign
countries, we prefer purchasing your wares and mer-
chandze to protecting our own industry al home, shall
merchants be blamed for importing largely But
the Indebtedness to foreign countries for their goods
said to be nearly paid of-so that we owe less TO Eng
land than have for many years past-and still busi-
has not yet revived ~ the United States. The
banks have less paper IN circulation than they have had
for many years past The rag money not now so album
dan as 10 be greatly offensive to some OF It's opponents
specie has not been exported Of lale freely as It has
been imported the government have enjoyed rare
opportunity OF distributing the precious metals among
people willing to receive them, and still gold and silver
does circulate and business has revived Again,
told year ago, by way Of encouragement, that
pressure was then felt throughout the world, and that
the working classes here might assured that misery
would have company to the end Of the chapter: II there
any unusual distress ia England then, Of very
short duratonand yet the better currency does not fill
the purses oil working sud business has not re-
yiyed. Will the friends of the people, who declaim IN
caucus, tell what amount Of the four or FIVE hundred
millions capital Of the country has been employed Ia land
and lot spccuatlons. Perhaps they give some in
formation how deeply the government officers have been
engaged IN these speculsons II is certain that their
transactions 10 that business have been very extensive,
and that SGb.Treasurlos would be as convenient for
ther accommodation banks have already been The
people have not, probably been enabled TO lay hold OF
than per cent of the capital Of the country for
such purposes certainly not that amount above former
dealings in that line Specuations IN lots, do not, like
excessive lmportaons, send money out OF the country
The nation not greatly poorer for this class OF specu
laons Where then, shall we look for the chief cause
Of the embanassmens. Is not the long continued spe
cuatlon and experiment of the administration The
currency, an hundred fold greater and more disastrous
TO the interests OF the people than the excessive mpor
tations and lot speculaions Does the pecuniary
distress of the people arise mostly from experiments by
unsklllul hands, on system which was remarkably
sound and healthy when the attempt was made by the
Executive 10 render 1t better
/. To show what opinion was entertained or Gen jack
ssns experiments by gentleman who has since thrown
in his adhesion to the Executive will and goes the
whole length for the Sub Treasury system, will here
cite the sentiments expressed by official individual
before National Republican meeting, held at the Coun-
~ House IN this city, October, 1882 1t was stated
IN city paper, that
Charles A. Ingersol Esq, was peculiarly happy in
his remarks. He took survey OF the public acts OF
Gen Jackson and dwet with marked emphasis upon his
despotic exercise of the veto power 1.-The General had
hardly commenced the violence thenl and eo-
sage. He showed that though Mr. Jefferson and the
other lnstrous predecessors Of Gen. Jackson signed
many bills which they did not approve they could not
dared not exercise this power OF monarch against the
deliberately expressed will OF the majority OF the nation
he showed that the -four five bills which had been We
toed during the torfyfre gears preceding the admins
tratIon Of Gen. Jackson returned TO Congress,
mot pocke,ed the ground Of supposed unconst,u-
tioaaityno on the ground Of expedlency- no Pre-
sdent before Gen Jackson, ever assumed that he had
right bill OH the ground OF expediency,
and thus prcsumptuousy up his opinion against the
congegaed wisdom Of the peoples representatives.
After showing that Gen Jackson was the President OF
party the President Of the country-by signing
bills for internal improvement, which bills would benefit
certain sections Of the country wherein his party was
located, and vetoinn that would have conferred
blessings other sections, which, however, would not
bow down TO him who was born to command Mr.. i.
turned to the great statesman OF the west and most eo-
quenty described his character and qualifications for the
Presidency IF Henry Clay must perish, said he, i
perish with him, ! had rather far rather,
be driven into insignificant and abused minority with
Henry Clay, than be successful partisan OF this adj
mnistration Give me, said Mr.. l.. Henry Clay dead,
rather than the living Andrew Jackson Mr. l. sat
down amid an animated burst Of applause"
Two DAYS after the above sentiments uttered by
Mr. IngerSol he acted as President Of the State Con-
vention of Wing Young Men at Hartford and addressed
that body in speech which was greatly apPauded at
the me repeating his preference OF "lienry Clay dead
which Senator Niles never has and will forgive
But mark how chaugeable Is During the session
of Congress in the winter OF 1856, the Hartford Times
came out with an abusive article upon Senator lomin-
son, and among other things told hun to obey his M
sructons regard to the expunging operation come
home dared 10 express the opinion in the Register
that the members Of our Legislature IN 1888 were never
instructed by the people TO instruct Mr. TO vote Tor
deacng the records OF the Senate, merely to Crafty the
Executive WILL and encourage further acts OF usupation
81 rnIIa thn ntC Mt
Mr. 10 decide what should be done, for evident
that did not like the faithful men OF the party fear John
NJ. Niles regard the will Of one man above that oil
the nation / told the fifteen keepers OF democracy
present that had doubt the people were with me on
that question, they had been on many othcrs-and
being conscious that had always earessy stood by the
rights of the middlns interest and working people, and
never favored the nonopozng propenstes oil lawyers
and political managers, had fears OF the consequences
OF rebukng the impotence OF the Hartford lines ihs
committee finally adjourned without striking my name
from the rolls Some of tho council threatened repe-
tton of the instructions at the approaching session of
the Legislatures but like the gold currency, did not
come; and now, after little sober reflection, many
expungcrs begin 10 doubt the democracy of that ope-
ration. H..
Here let me allude to another proposed experiment
of the political quacks The New York Evening Post,
old violent federal print, which came to Jackson
democracy eight nine years ago, with some thousands
OF the most unprncped of the federal party, has been
urging, Tor months past me necessity oil lssseihg inc
circulating medium OF this country, that dollar
will purchase what it requires three or four TO do now.
Some other administration papers, and certain office
holders, have embraced this sound doctrine. This
system might be sport for the receivers general and
salary OF all professions but it would be death to
the poor frogs Suppose the currency reduced, and the
wages OF men reduced to one third fourth the
amount they have been IN the habit of receiving, will
they be able TO purchase provisions and all other con-
venieuces of life price equally reducedl Let them
try It; but first let them ask tho poor Chinese how the
system works in his country lie receives the gold