The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-03-08
From M Richmond Enquirer.
TO ALFRED CUTHBERT, ESQ.

oe"dt0f ~ ing y, otfes Jf0hthe Sfote 81 Georgia,
Sm-Your high standing as public men induces
address You the present distressing crisis /
would not now take this liberty bul Tor Tie recent
intelligence ilatihe Sub Treasury bill will certainly
pass your body, and that the proh bes are in ia-
vor Of lis passing the Honse oil Representatives.
This information has greatly aSoniShed me for |
had been assured, that this Bill could not pass the
Senate and II il should Il would meet with certain
defeat in The Hou-e Of Representatives. With this
understanding, | determined TO remain silent and
refrain from every hing which would be calculated
10 widen the breach which now unhappily exists
in our party; bu, Sir, believing that The success of
ibis unfortunate measure will not only be ~ nous
the parry with which have so long acted but that
il will be destructive 10 the best interests Of cur be-
loved country cannot ioibear entering my solemn
protest against IT, Under such circumstances for
beararcs would to be viriue, and silence
would be lIeacheY 70 our parry and our country
Sir The Republican parry, which J. have faithfully
served because thought II The best means Of seTv-
ing my country from my boyhood, is In great dam
ger ], /, on the very brink Of dangerous preci-
pice Pass The Sub Treasury bill, and lis fate will
be irTevocably sealed. i will Lot deiain you with
any Of The many unanSweiible arguments, which
have been IN de in and out Of Congress against i'll
They have all doubtless been thoroughly examined
ami weighed by YOU and Lave no doub; brought your
mind 10 a correc, conclusion. One thing Is cerain,
that this very identical measure was Tepudiaied and
denounced in unmeasured lei ms st three years ago,
by The whole Republican parry, with General Jack
son at their head, and that too In comp risen with
the State Bank depoSile system. We were then told
by authority, that "he proposition Is dioFganizing
and revolutionary, subveTsye OF the fundamental
principles Of our Government, and OF its entire prac
lice from 1859 down to This /" that iii is as pl
p Bile as the SUM- that the efect Of The scheme would
be TO bring the public treasure much nearer the ac-
lual control and custody Of the President than Il is
now. snd expose il 10 be plundered by hundred
hands where one cannot now reach IT, We were
told, that had such suggestion come from General
Jackson, il would have been rung through The Old
Dominion with the reiterated faseho DIS ID VI tic
pr clam s.Ii No
all the aspirations which have been charged 10 the
Hero Of New Orleans. See, Qhey would say0 here
he wishes 10 put the public money directly into The
palms of his friends and paTtiZans instead OF keep
ing il on deposite in banks where il carno be
drawn tor osher Than Iublic purposes without GER
lain detection" In such case, weshoud feel that
the people had just cause for alarm, and ought TO
give their most watchful attention 10 such effort
10 enlarge Executive power and put into his hands
the means of corruption.
Such Sir, was the language held by Gen. Jackson
and his supporters, but few years ago. 10 the Re-
publican ifcemen Of this coun ry on this very sub
Jet. Ii made deep impression on their minds
one, sir, which cannot be removed by the force of
party discipline They will very naturally conclude
that il this measure then so dangerous TO their
liberty is so now; that if its tendency then was TO
increase Executive patronage 10 so dangerous and
alarming extent il is so now THAT il il would then
render the public money unsafe, j will do SO now
What sir Is the assigned for this remarkable
change this sudden wheeling about and going over
to MIR Calhoun and his little band Of Nulli6eTs y
Why, that the banks have stopped specie payment.
Does this change the char cer of the Sub Treasury
scheme9 Does il make it less dangerous 10 the lib
erty of the people, increase the Executive patronage
less, make the public money more safe, or fuinish
less formidable means of corruption than i did in
1884 No, sir, it will not do to say so 10 free and
enlightened people. Besides, the State b; nks had
all stopped specie payments on one previous occa-
sion at least and il would be insult 10 the ntelli-
gence of our leaders to say that, when they selected
the State Banks as repositories Of the public money,
and denounced the Sub Treasury they did not anti
cipae that such event as the Banks STOPPING sre-
Gle payments might occur again. Yes, they must
have anticipated il for il is reasnni BILE osurpoSe
that that which has once occurred may occur again.
II is well known TO be of the evils attending the
Banking system; and perh ps such strong conbi-
nation of circumstances may not occur in The next
fifty years, 10 bring abOut similar state of things.
/ The only question worthy OF consideration now,
is the best TO get the country out OF lis present
embarrassments. And can the Federal Govern
ment const uionally aid in this most de>ir BILE Oh
ject IL will be admitted that nothing is des-
rable than that the banks should resume specie pay
menls-ihat stree the equalization Of foreign ex-
changes, and the consequent reduction Of the prcm
| um on specie, there is nothing Ia prevent large
majority of The b INKS from this resumption but the
want OF confidence in them, and that they cannot
sumo win safely, without restoration OF confidence
in the first place at least partially Now, sir is it
! not in the power of the Federal Government 10 aid
! very much in The restoration OF confidence Would
not promise TO receive the notes Of The banks in
| payment of the public dues as soon as they should
storation Would not this manifestation Of conf
dence in them, by the Govemment-by far the lar
gest money dealer in the country-induce private
dealers TO confde in them, and thus restore the conf
dence OF the whole community On the contrary
will not the refusal of the Government 10 receive
their notes in payment Gifts dues, and its settled po
"The language Of the Globe in June, 1886, is most
remarkable. What reflections does il courc UP
with regard its relations to The STATE Banks
aud TO Mr. Calhoun. as well us Mr. Calhuuns relations
TO the whole subject There is memorable
revolution political opinions in this age Of change
and revolution The following the paragraphs from
| the Globe, in june 1886
The whole opposition in the Senate declared the
experiment must fail ) declared that Il had
faiLed. MIR. Calhoun wished 10 renew the charter of
the United States Bank for twelve years. and Mr. Web
wished eongate' for six years. that the depo
sites might he restored it, aud Tins defeat The
pertinent in other words, disgrace and break down
Gen. Jackson. But the true Representatives Of the
| people put veto on those attempts"
"Has any one of the Deposite Banks, even under all
these circumstances OF 'ngtoious which has been
constantly wsgcd upon them, asked single days
delay pay any the public money in their bands
"The opposition now. after nearly three years Of
warfare upon the system and against the experiment
find that they break il down by warning against
il, and they now attempting, through different
mode. TO effect that object. They seek now TO legs
| late il down. Never did hound follow hare with
more cageness than has Mr.. Calhoun his scheme OF
Gripping by legislation the banks containing The pnblc
deposites Mr. Webster has been little less eager than
/ Mr. Calhoun. Can any ore, who witness OF the
course Of these gentlemen during the last two sessions
1 OF Congress- suppose that either Of them now wish TO
egslate FOR the purpose OF peJectng the system, and
are Welding to its permanency We hardly think
that any friend TO the system can be thus deceived
ave viii 90 with Mr. Webster, TO the amount of