The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-09-22

VIII Sink or SWIM r. w nat Wouid our
opposition to the Sub Treasury--the REcEv-
ERs GENERAL--the increase OF Executive
patronage be worth, while we should support,
at the same moment, the individual who de-
clares he will sink with them, if they cannot
swim and be adopted! Would il not present
an anomaly
We differ from the Enquirer, as to what it
states to be the true issue. The Enquirer has
stated il to be, Mr. Van Buren, and no National
Bank. The Sub-Treasury is kept out Of the
question. Thai is made the most prominent
question at issue, by nearly all the thorough
going supporters Of Mr.. v. B., from the off,
cial organ down to the penny sheet.
In our opinion, Mr.. Calhoun was right
when he said in March last, 'there are three
questions inuolped in the present issue; shall
ace separate the Government from Banks, or
shall zoe repiue the league Of State Banks, or
create National Bank" We oppose both
a National Bank, and the Sub-treasury, which
is to separate the Government from banks.--
We 60 for the "league Of State Banks" as il
is reproachfuly termed. il would be utterly
impossible to form " league" if the Govern
ment wished it, Of twenty or twenty-five State
Banks, situated in nearly as many different
States, directed by men wholly unknown to
each other, influenced by different interests
and Of different politics. 1t would be impos-
slble to unite these banks with the political
power Of the country Beyond what might
be necessary, for the security Of the public
money and the faithful performance Of their
duties as fiscal agents Of the Treasury, il
would be utterly impossible for the Govern
ment 10 exercise control over them, so as to
form them into "league'' for the accom-
plishment Of any political purpose whatever.
Not so with the Sub-heasury or National
Bank. The former would be great engine,
placed in the hands of the Government, to be
used for political or other purposes. Ma
tional Bank would concentrate all this power,
and such an institution would generally ally
itself to the Government We repeat what
we have often said before WE GO FOR MEA-
suREs NOT FOR MEN.
From the Enquirer of the 9th inst. we ex-
tract the following:
AS little truth is there in the ridiculous charge
which the Madisonian makes against the friends Of
the Sub-treasury, that they will become clamorous
In favor OF National Bank and that will be the
M says, that if they find by the result of the cleo
tons the approaching fall that they cannot carry the
Subreasury, we believe 1t is their present intention
then to come out for National Bank This is all
stuf-mere leather and prunella.'"
We will remark to our respected friend, that
we make no assertions on light grounds. We
can write the names Of number of members
of Congress who voted for the Sub treasury
bill at the last session, who, during the SEES
sion, declared their preference for National
Bank, and expressed their belief that it would
be the resort in case Of failure to carry the
Sub-treasury.
A sound circulating medium and an equali-
cation the Domestic Exchanges the people
will have. The Sub-treasury will contribute
not the least in establishing either. Twenty
State Banks, acting as fiscal agents Of the
Treasury Department, properly arranged, and
with an efficient head Of that Department to
direct them, will be equally efficient in pre-
serving a sound currency and regulating the
Domestic Exchanges as National Bank with
twenty Branches acting as agent Of the Trea-
sury; for, after all, the collection, keeping
and dsbursing of the public money is the
great machinery that controls the whole.
Mark our predictions One or the other
the people will have. H.: