The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1838-07-21

those , nearest arou1sl ], Rejecting
minds, as they advance and improve by ex-
perience, take broader ken, examine ques-
tions of policy and scIItinize principles Tor
themselves; and with conscientious sinceri-
ty adopt the course of policy their hearts
and judgments approve. Such was the
course Of Madison, who, when first i'll pub
lie life, co-ncided with the Conservatives;
but his pure heart and deep reflection soon
led him to unite whh the Republican party
as the supporter of popular rights, of which
he was so long the safe guard and distin-
guished ornament.-Such, too, was the
course Of the eminent statesman, the honor
and pride Of PENNSYLVANIA, James Buchanan,
whois destined we hope to promotion COM
mensurate with his mind and ability. His
wisdom is looked ID as among the safest
guides of our august NSenate, where his elo-
quence commandsA lause and his courte-
sy and virtues ins - confidence and es-
TEEN. Popular rights find in him one of
their most warm and able supporters. All
improvement impMs change; end l would
earnestly invite all our young men especial
ly, whatever may have been their way Of
thinking heretofore, to Join the popular par
ty, combine with the sons of freedom, and
contend with us for the great and whole
some principles of Democratic liberty. A
mong the earliest battles in which Madison
took the lead in behalf of popular rights,
was in 1871 and 2, when Hamilton intro
duced the funding system. 1t WILDE whole
some for our young men to understand this
matter, and ! will briefly state it. The
federal party proposed that all debts due
from the public growing out of the Revolu-
ton, amounting to one hundred million Of
dollars, should be funded at par, and for
which stock should be issued by the gov
ernment chiefly bearing interest. Now it
SO happened that'from the close of the war
in 1888 to 1901, the government was total
ly destitute of money, and the soldiers
holding certificates of debt, the price of
their services-of their blood---and their
slflerings in the-army, were without bread
and in want of all the necessaries of life,
literally starving, andthey were compelled by
dire necessity TO sell their certificates of debt
to speculatdrs at two and six pence on the
pound one-eighth of their value; thus
getting but one years pay for eight years
service. Many millions had thus been
bought up by spectators, sharpers who
lived then as they live now upon the mise
rles Of the poor. Hamilton proposed to
pay the whole amount of these certificates,
in whose hands soever they might be, at
their face. att in full. "No," said Mr..
Madison, ''thay would neither be just to
the public, to the speculator who has given
only IL cents for a dollar, nor to the poor
soldier who is entitled to his pay at your
hand. Let us divide this thing--pay the
speculator one half; he will then get two
or three hundred per cent for his money,
and we will allot the other half TO the poor
and meritorious soldier who so hardly earn
ed It," Is it not obvious that this would
have been just? Was not this noble el-
fort in behalf of popular rights Though
it failed, yet the effort rendered the name of
Madison dear to ever true lover of Justice
and freedom, and was one of the corner
stones of that beautiful edlice of character
and patriotism that raised him to the station
Of President of this Republic.
The contest of the aristocracy, the spec
ulator, the money changers on one side,
and the advocates of popular rights is still
and ever going on, though upon new ground
and this hour demands all your zeal and
all your vigilance.
The encroachments of avarice, ambition,
and power, like time never cease their on
ward course; and are often the most dan
gerous when nois less. Their commence
ment is often minute as the flanent of the
silk worm grows to thread increasing
from twine cord, until at length the commu,
nifty Of themselves bound like the strong
mans bands that resist their power to sever.
Thus it has been with Corporations. In the
early part of the Republic, asked for evi-
IDENTIFY beneficial purpQses-lor turnpike
roads, or the carrying on some manilestly
useful work. Soon private interest and
grasping avarice, see the advantage that may
be made to result; and private charters
are sollcited---charters or Coal Com
panies---charters. for manufacturing
charters especially for banking--great
monied corporations; corporations that do
in effect coin money, build marble palaces,
hold the destinies of half the business pop
ulation in their hands, and therefore by the
unerring laws of nature holding in meas
ure the control over their independence.