The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-01-20

DEMOCRATIC REpUBLIcAN DOCTRINE,
FROM THE NEW YORK Address.

FROM THE NEW YORK ADDaEss.
We oppose the Sub-treasury scheme, either gene
rally, or la the special depose form suggested as
substitute, not only from the many objections IN prin-
cipe 10 be urged against each shifting the balance
Of the Constitution, but also because 1t Is brought
forward as the great antagonist OF the credit system
and its objects contemplate The destruction Of the ere
dit system.
We are in favor of the credit system because il Is
the peculiar offspring OF liberty, and we oppose the
Sub-treasury hard money scheme, because hard mo-
ney Is the constitutional currency OF all despoic
governments
We support the credit system because 1t is essen
TALLY democratic equal and universal, we oppose
the hard moEey Sub,reasury scheme because solid
wealth il exclusive in lis character and never crcu-
lates among masses,
We support the credit system because it is genial
TO liberty, we oppose the hard money SubtreaSury
subject because il Is aristocratic in lis tendency.
we support the credit system because il gives TO
activity, enterprise and merit an equal footing and
chance Of success with realized wealth, and we OPP
pose the hard money Subreasury scheme because
i would check competition, build up strong, endur
ing and oyershadowing business houses and destroy
the republican features of our government.
We support the credit system because the people
have framed it, and are identified with IT, and we OPP
pose the hard money Sub-treasury scheme becauseit
Is hostile TO the interests and against the expressed
wishes Of the people
We are in favor Of the credit system, because it
is friendly TO The laborer and producer, and scat
tiers its blessings upon the poor as well as the
rich.
We oppose The hard money Sub-treasury scheme,
because II would make large and princely fortunes
for the now wealthy, and degrade the middle and
laborng citizens TO the condition of their slayest
We are in favor Of the credit system because by il
the poor farmer is enabled 10 obtain his lands and
implements OF husbandry the poor mechanic his In
nhAr
his daily wages and constant employment, and every
man who bears a tolerable character, coupled with
industry has certain means OF bs,tering his con-
dition
We oppose the Subtreasury scheme, because it
will cramp the energies and blast the happiness of
our people.
We support the credit system, because il has been
the great lever of our advancement as individuals
and as nation in wealth and prosperity
II has enabled us to pay off an immense national
debt. covered our lands with fertile fields thriving
roads and manufactures; increased commerce and
navigation, and in the short space OF half century,
elevated youthful nation TO equal stallion with
the Kingdoms OF ages in the old world.
| We oppose the hard money scheme, because exam
pies derived from Monarches are not models for
Republican imitation, and while we look upon the
splendor Of Kings, Princes, and Mobiles of Europe,
and the " gold glering through the sEen meshes
of their purses We behold the chains Of slavery up
on their poor degraded people
We support the credit system, because it is part
of the great legacy Of freedom and happiness trans
mitted To us, with our political rights BY
tors, and oppose the Sub-treasury scheme because
it is 'dsorganzing and revolutionary, subverSive
of The principles of our government and Of its entire
practice from 1889 TO this day"
We oppose the Sub,reasury scheme, because it
will plant a new phalanx of tax-gatherers among the
people drawing from them by the strong arm OF Ex-
ecuiive power their hard earnings and hard money,
leaving TO the people on whom they fatten, naked
subsistence, and a broken currency.
We oppose the Sub.treasury scheme, because it
will add another cohort 10 that army Of officers OF the
general government now quartcred upon the people,
disturbing their deliberations in public assemblies,
interfering with and destroying the purity Of their
elections, and attempting TO overawe all expressions
of dissatisfaction with the measures of the federal
government.
We oppose the Subireasury schemebecarse it will
intellectually enlarge The powers of the Executive"
unite the sword and purse in his hands contrary to
the intent and spirit OF the constitution, endanger the
safety of the public money, and expose it TO be
plundered by an hundred hands where one cannot
now reach it.
We oppose the Subtreasury scheme because il is
destructive of the industry, enterprise, prosperity,
happiness and independence Of the people.