The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-01-03

versaxies, in avenhg such an evil o. the passage %
thai bill would have inflicted on the deb.or banks,
and on certain porifJns Of tketountry. The result
was that the bill was modified before lis passage The
periods of payment extended, for such as chose
toayail Of them, 10 IA, 20 and 26 months. should
be wanting in gratitude, did l not acknowledge The
obligations am under 10 those whose exertions rc-
complished the amelioraion Of the important fca-
lures Of that bill. #ih
Fourth. But the moment they (the Banks)
destroy their character by refusing 10 perform their
sacred obligations, both the banks and Mr.. Whitney,
who represents them here, become prime favoriies"
Had the writer Of the article said thai as soon as
The banks found themselves in situation not TO meet
the payment their notes in specie owing TO the cx
iensiye accommodations and indulgences which they
had given TO the community, encouraged In part by
a spiritto comply with the wishes expressed BY seine
Of those high In Office here exercising supervisory
powers over them in opposition TO the views ofsome
OF the banks, and in spite of the suggestions of Mr.
Whitney 10 the contrary that them both the banks
and Mr., Whitney, who represents them here be-
came Infamous in the estimation Of those with whom
they had previously stood "prims tnrorites," and
were SO treated; il he said this, he would have APP
preached nearer what has been the fact.
Fifth Ellis livelihood depends upon the re-or-
ganzalion Of the system Of pet banks srih iB pocer
TO The public money IN pirate speenlatioas This
would seem TO imply, that unless the pet bank system
is recognized, shall be without the means Of
l"livelihood," and Of course must starye Such an
| idea would seem 10 carry with il singular appear
ance when contrasted with the transcendant talents
and extraordinary genius which the writer OF The
article had previously credited me with possessing
Even should the pet bank system no, be recognized,
| | hardly think that either myself or family will
be driven to beg our bread. The last part Of the
quotation is Etaiieiousiy miscAierous "With power
to use the public money in private speculaionsl r.
Does not the writer know that there did not exist,
and cannot exist, under the State Bank system, any
such powerl He knows il full well The sugges-
ton could have arisen from other motive but to
crafty most wicked and diebolical feeling.
.SixtA (" His efforts arc all directed to preventive
establishment Of any plan by which the banks may
be relieved from the necessity Of employing him
Those, who in every action, look to, and study only
self, cannot comprehend and appreciate disinier-
ested act in others.
avow myself disin;erescd and open advocate
of a well-reguated State Bank deposilc system-a
system which originated with General Jackson was
applauded by him, year after year. answering the
highest expectations he had ever expected it oper
form; and which, but for acts Of commission and of
omission, in ecrtain quarter | am well persuaded,
would have been in successful operation at this day.
and the whole country have now been enjoying the
height Of prosperity under IT,
| as openly avow myself opposed to system
which will expose the moneys of the people, 10 be
plandefcd by a Annared hands, when under another,
single one cannot touch ito system which leaves
the public treasure in the keeping Of officers appoint
cd by the President and remorcattc at his will thus
placing the custody and control Of the public money
entirely in his hands Upon this subject as Thought
in 1884 50 think in 1888, and until am convnc-
ed am wrong in those opinions, shall so continue
both to think and TO act.
1t is with extreme reluctance, that so frequently
appear before the public through the public prints,
but the peculiar circumstances of my case must
| plead my apology. Probably the history of this
country does not present single analogous to
my own. A humble individual, holding no public
Office whatever, whose occupation has ever been
exclusively of pirate nature for upwards of five
years, constant target for those differing with me
| in politics to aim their arrows at The most re-
markable part Of the story comes now to be told 1t
is this. Some of the very individuals who have
acted with me- and with whom Ihave acted-who
assisted in sustaining me, and whom | assisted in
become my assailants. / find myself (and with
smile notice it) between Two fires; mark for both
b.lligcrens. Within the neck, compelled to
appear before the public TO defend myself from the
assaults Of each Of the conending parties made
through or By their organs. This, to one unae-
quainted with the facts, may well appear engmati
cal 1t may be asked what has led to this? Have
| changed my political tcnets and abandoned the
party with which have always proudly acted2 1t
would certainly appear that this cannot be the case
l. now as always have, contend for rigid con-
struction of the Constitution. am an advocate for
reforming the banking institutions Of the country
advocate the gradual suppression Of small bank
notes up to any denomination called for, to give an
ample metallic circulation for all the ordinary trans
actions Of smaller amount; holding to the principle,
that paper and specie of the same denomination can
never circulate together. / am opposed to the esta-
blishmen, of National Bank. ! am a staunch adj
vocate of an carly resumption Of specie payments,
as well as employing the power afforded through
the collection and keeping Of the public revenue TO
prevent suspension in future, and TO preserve a
sonnd currency throughout the country.
am en- advocate for restricting, and am opposed
to charging Executive powers.
! have always supposed, that in the foregoing
embraced the important land marks Of Republican
ism. A new one appears 10 have been brought for
ward within few months by some, who claim to
b, enctusire cxpounders of Republican doctrines
IT rs AFFECT SUBMISSION DISCIPLINE PARTY,
HOWEVER INToLERaNr. If member refuse 10 have
| 'trrammed down his dissenting throat" that, Which
tneither his approves nor his conscience sane
lions" he is TO be Immediately mathematical and
ostraciScd from the party. Under General jack
sons administration such intolerance met with no