The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-05-19

thredlened!" The Globe OF the l7th, IN an
article headed "nhe truth brought 10 light"
makes the following assertions as facts which
it says had birth in political frenzy here"
Referring back to about year past il says,
The specie was exported--the banks were
stopped--business was struck down--lhe Co
vernment funds in the banks suffered confsca-
tion-the means relied on by individuals were
annihilated."'
The Government funds IN the banks suf-
Jered confscaiion" Was there ever more
barefaced, impudent misrepresentation uttered
or published than this The statement is dis
proved, by the truth and the facts-by the Off
cial statements and reports Of the Secretary Of
the Treasury and other documents which have
been published in the columns Of the official.
The Banks, when they suspended specie
payments, held on depose, thirty-two million
dollars Of the public money. By an official
report from the Secretary Of the Treasury,
made some weeks since; they had paid all,
but between five and six millions. About four
and half millions Of that, had then been, or
was in the course Of being amply secured,
payable in instalments with interest, under the
act of Congress Of October last and the ba-
lance was available, to meet the wants of the
government as drawn for; excepting about
fifty thousand dollars, in Boston. which if any
part shall ultimately be lost, is chargeable
alone to the indiscreet action Of the Secretary
of the Treasury In the face Of such facts
and truths as these, it is announced to the
world, through the columns Of the official or
gan of the Government, that THE GOVERN
MENT FUNDS IN THE BANKS SUFFERED
CoNFIscATIoNm
The Globe Of the 18th inst, in speaking
ofthe drafts upon many Of - the former de-
posite banks" boldly declares, that many Of
them mere paid at greai loss 10 the holders"
This statement is dsproved by truth and the
facts--by the Secretary's report, and we
think, also, by the message Of the President.
We put the question emphatically to the
administration to answer, whether it approves
Of this reckless, anprincipied course of its
official organa Until frank and open dsa-
yowal is made, onits part of either sanctioning
or approving such course, and discon-
tinuance from all future employment, the con-
clusion will be inevitable, both at home and
abroad, that the columns of the Globe but
speak the feelings and indicate the policy of
the administration.
For ourself we are convinced that war
Of an extirmina,ing character is resolved upon
and already commenced. That in the COM
ing fall elections, the cry will be, Dorn ,cith
the banks! Doton icith the Janks--and, the
declaration thathas already gone forth through
tho official organ, will be the watchword,
" The dynasty Of banks, both great and small
approaches It's end" Such we are satisfied,
is the plan Of the campaign already marked
out, The attempted overthrow and final de-
struction Of the banking interests of the coun-
try is determined upon. We warn the banks
as they regard their own safety, not to wait
supinely looking on. They should unite to-
gether, make one common cause, put forth
their whole force and power in self protection
and in self defence. To all those who advo-
cate the doctrine Of" divorce" apply that prin-
ciple, by forcing them to pay up their debts to
the banks, and in hard money. Let this poll
cy be adopted and rigidly enforced, and be-
fore many months pass over, those GorHs and
VANpALs, who would PROSTATE the best
interests OF this fair land will be defeated in ac
complishing their nefarious schemes and pur-
poses.