Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-09-24
POLITICAL.
From The Charlottesville Jc6crsonian Republican.
PRINCIPLES AND POLICY OF TIE CON
SERNATlNES-No l.

The position occupied by that portion of the Re
publican patty who have been separated from the
administration, on a leading and fundamental ques
uon oil public policy, aud the course they shall deem il
then duty hereafter To pursue, involve consequences
OF so much Importance Ia the country and themselves
uat pubic attention has been drawn upon them with
an unusual degree oilntrlcst aud curiosity. Unde,
these circumstances, we propose from time To time
/ as our engagements shall permit, 10 address TO oui
/ Conservative brethren throughout the country thu
views which hive occurred to oi the high duties i'm
posed upon them by the public crisis aud their own
principles. The position they occupy is in our opn-
ION, The noblest To which vifuous and patriotic
ambition can aspire. With numbers too few Ia
compass any object OF personal advancement for
themselves, they yet hold the balance of power
between the other cohtendnS parties, and thus
placed situation 10 afbtrdtc every question Inch
shall arse, Tor the real good OF the nation Then
mission is TO watch over aud TO guard the interest
o' me country from every aSsallan; and i'll the terms
oi the greatest lnst coniided TO Roman patriotism,
(dafent opcram ne qnd respubliea dctriment cape
rei) 10 see nat The Hcpabc IN trcnt, sustain anu
deffAmcnL Let them act up to their high calling in
the spiii OF men and OF patriots, aud with the con
sclenlous courage which the occasion demands, and
the day is not distant when in despite of temporary
dennnclaiion. they will be hailed BY the general
voice as the bencactors, II not the saviour. OF then
county.
10 form Just estimate Of the position of the
Conservatives and of The duties and responsibilities
devolved upon them, is necessary ietace events
lot lew years past and particularly the cireuns Ian
ces IN which their distinctive existence had its ori-
GIN. he most prominent feature IN the policy OF
me lae administration, and the rally lng point OF
friends, was opposition to National Bank and sup
port oil the State Institutions. When 1t resoIv ed
TO put end TO the Bank OF the United States, il be
/ question OF the highest Importance To deter
mine what agcnu. 10 Substitute loi that institution
as well TO conduct the Hsca operations OF the
Treasury, as TO supply aud regular, Ii" general cur
tency OF the country. Upon the most ma.n con-
slderaton and the fullest Amusement, the State
banks were determined 10 be the proper and ONLY
practical substitute, and systematic plan for their
employment was devised and organized. They were
confidently pronounced by the highest official au-
tholly to be compecntto every want of the govern
'henl ana the people, capable of supplying better
currency even Than the Bank of the u. :. did aud
above all, recommended by the consideration Of be-
ing exempt from all danger Of political combination
or corrupt influence. The system was accordingly
adopted and went into operation. 1t received the
"afnrst culogIes, year after year. OF President Jack
son III lIis messages Congress- its advantages were
scduionsIy set forth by the Secretary Of the Ttcasu-
~ Ia ms Official reports and il sustained and de-
'eHde1 IN elaborate reports of committees of Con
gfess, as well as in speeches of leading members of
the administration patty. 1t was in ruth the sys-
TEN OF the old Republican party, both in l79i whrn
they alaycd themselves against the establishment of
the flfs Bank of the United States and again in
1871, when they opposed and prevented theIechar-
ter Of that institution. Thus sanctioned and re
commended, II became a touch-sone of Republican
orthodoxy, aud the whole party, friendly 10 Gen.
Jackson's admlnisti aton. united in suppor of the
fiscal employment Of the State Banks as (unJa-
mental measure Of The Darty
" me tnIS was the Administration policy a poi
ION OF the opposition or wing patty brought for
wafn, as an antagonist proposition a scheme for dis
earning me agency OF Banks altogether commit
uhS ne custody OF the public monies to individual
agents and collecting the revenue in hart money A.
iohe--in other words, the scheme which has since
become SO universally known BY the name of the sub
treasury scheme - No sooner was this scheme
preached by Its whig advocates than it was denounc-
cd IN the name and under the authority of the Ad.
inInstration as lraugbt with the alarming dan
ger TO the public liberty "by enlarging Erecuiire
pouer and putting in its hands The means OF rorrnp-
TOMAS transferring the public money "dIeclly
INTO 'e P7tmS OF Executive agents, the friends and
paruzanS OF the President instead of kcepiuo !, On
deposite in Banks, whence il could moi he drawn IN,
other than public purposes without certain dciec-
ton and thus "eXposing it to be pundercd by
hundred hands, where one cannot now reach If i,
These objections, boilomcd thcy were on the
solid foundation of rnth, and appealing to the
sonndest Republican principles and instincts, were
conclusive. The supporters Of the administration,
as party, were rallied by them. with unpreccdent-
ed unanlmity, IN opposition to The scheme; and IN
the meagre vote of SO, in body of 2iO members
then given in favor Of il, but one solitary name, be
This was the state Of the question, during the lime
of the late administration. The whole Republican
party was in favor OF the State Bank system and
stood firmly and nncxlbly opposed 10 the Sub Trea.
suiy scheme.
The present chief magistrate, then the candidate
of the party fof the Presidency, was understood To
be fully committed to these principles. and in several
public declarations Of his opinions, gave a formal
and uncquivocal adhesion to them. Within a few
short months, however, after the commencement of
his administration, a most extraordinary change of
position took place. Taking advantage of some tenn
porary cmbanassments which had fallen on the
Banks, in common with every other portion Of the
business aud commercial world and which were ascrI-
itself few active spirits, supposed have been long
secretly hostile to the established system of public
and private credit, and medtaling the Introduction
OF Treasury Bank, which should be completely
subservien To The uses OF the party power, com
menced a furious denuncatlOu OF the State inslitu-
tons--lie system which had beer nLracea and sun
ported by the whole party, openly condemn
cd aud Withdrawal the rival system which ihey had
lately opposed and resisted dnt-rc puLican TcyOiu-
h0nary and disOrgdhizme, they now velementIy
urged on the country. A wild spirit Of innovation
and subverslon seemed TO be, all at once, put in mo-
ton, which threatened the sober interests of life and
the time tested institutions of society with destruc-
ton The President, unfortunately yielding to the
mpulson OF these elements OF change, Ito the sur
prise and modification Of many OF his oldest and best
riends) forward nj the special session Of Con-
grcss conyokcd by linn, and earnestly recommended
the adoption OF the sub-tlcasuy sysrcm--;hat system
which had been lately emphaiIcally condemned and
unanimously rejected by the whole party. A
majority OF the parry, unable to resist the potent and
mysterious workings of party discipline, but many Of