The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-06-09

marks of this paper in regard to Mr.. RIvEs,
it may be proper for US to say that, the editor
is alone responsible for his own opinions
Neither MIR. Rives, nor any body else can be
held accountable, but ourself for the language
we may utter. We wish it to be distinctly I'M
derstood that the Madisonan, is the organ Of
no man or set Of men, but fights like the En-
quirer, ION its own hook We pursue an
independent course, and yield to no influences
in our conduct towards any party, but those
which properly arise from knowledge, expo
rience and reason. r.-1
We contend that it is the duty Of Congress
toprovide uniform currency; and, being
opposed to.a National Bank, we believe that,
in the absence of the precious metals. the only
practicable plan is TO be attained through the
revenue power of the Government, upon the
basis Of a well regulated State Bank Deposte
system. Thatsuc system, well managed,
by a competent head of the Treasury De-
partment, may be made to answer all the pur-
poses Of National Bank, so far as to facili-
tate internal exchanges and supply a uniform
currency, by providing for the reception by
Opposite Banks, wherever situated, Of the
notes of each other, at par, and by the Gene
raj Government, of their notes every where
in payment of public dues. (The notes of
course to be equivalent to specie.) That these
benefits, which are all important objects, can
not be derived from Sub-treasury system, or
its modification, system of special deposites.
That such system, properly managed, would
lead the country to forget the necessity that
ever caused it to clamor for Bank Of the
United States.
That its benefits, uniform currency and a
cheap system of internal exchange, arc de-
manded by the people, and vii! be, sooner or
later, in one form or another, attained and en-
joyed by them. That the only alternative
presented, for the attainment of these Objects
is solely, State Bank Depositc system, or, a
National Bank. That if the former cannot be
established, which is our first choice, it is the
dutysof every patriot, and lover of the peace
and prosperity Of the country, to aid in pro-
curing the establishment of the latter. That
we will support any party that will carry out
these vews-or,i there be no party to carry
them out, that we are in duty bound to support
the party that comes nearest to it. We have no
confidence in the mere politicians of any par
ty-" their great apostle is OFFICE" and
they are indifferent to most considerations
but those best calculated to ensure their own
success. If there be any patriotism still lin
gering upon the outskirts of any party, we
would appeal to it in the name of that political
benevolence from which it springs, to rally in
support Of that democratic system which is
equally opposed to the concentration of an
overshadowing money power on the one hand,
and the accumulation Of Federal omnipotcnce
on the other, and most consonant with the feel
ings and wishes of a republican people, by its
democratic tendency to the more equal distri-
button of money, as well as political power
Placed under the direction of Congress, in
whose hands the money Of the people was in
tended to be entrusted, it would be equally
free from the objections against the increase
Of executive power, as against the dangers of
a National Corporation Of doubtful constitu-
tionality.
We believe that the banking system re-
quires reform, and that the most efficient ser
vice the National Government is capable of
accomplishing in aid of this reform, is through
Its revenue power, as recommended by Gen.
Jackson in his message Of 1895. We believe
that specie ought to supply the place of shin
piasfers, and enter more largely into all the
minor dealings Of society.
But we believe that credit is the lawful and