Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1839-11-09


/ We extract the following vigorous pas
sage from the speech of Mr.. Rives a
/ Louisa courthouse, and regret that oul
limits preclude US from publishing the
1 speech entire.
| From the 8. one feel swoop" of mil
lion and quarter of dollars, by the
New York collector, to the petty-lar-
cenies of some village delinquent, what
have we seen, continued and mortify-
| ing spectacle Of official peculation, and
dIIapidation, the public funds Hard
ly day passes that does not add some
new defaulter to this already swollen list
Of infidelity, and public robbery.
s. The ear is panied,
The soul is is sick with every days report
OF wrong Or fraud with hich the land is filed
But painful and provokin as are these
fruits of the sub-treasury policy while
yet in $ the green tree" too, and but We
ry partially put in practice, they hard
ly deserve a moments consideration,
compared with those extensive and des-
olating inroads upon the public prosper
ity and liberty, which must inevitably re-
suit from its operation, when the entire
system shall be fully organized. and set
in motion by law. If you desire, fellow
citizens, TO see these ruinous consequent
ces portrayed with a pencil of light,
and from a source of the highest au-
thority and impartially, let me recon-
mend to your calm consideration a most
able letter upon the subject written by
President Dew of William 81 Mary
College, to a friend in Alabama, and
which, though not intended for pubica
ton. has happily, for the cause of truth
and the public instruction, found its way
to the press. That profound and poll
teal economist, whose opinions on this
subject will surely not receive the less
consideration from the fact that he who
is removed from the arena, and exempt
from the bias of party politics, has analy-
sed and laid bare in the letter to which
/ have referred, the operation of this ia
tai system, with force of logic and
learning combined, which cannot as it
seems to me, be resisted by any candid
mind. He has shown that the system is
Incompatible "with the civilization of
the age in which we live''-that " it is
decided movement back ward iowa rds the
ages of barbarism''-that it is :. an open
declaration of war against the establish
lished credit system of the country
whose overthrow cannot be accomplish
ed without laying in ruins, by the same
blow, the most important interests of so
ciety-and that so far from exerting a |
salutary influence, as has been pretend |
ed, on the currency and the commerce of
the country, it would inyolvesthe one In
g constant fuctuation and Insecurity t
and subject the other to = violent con-
and embarrassments,p enhan-
cling at the same time, the weight of
public taxation, and putting in the hands
Of the E.recutire a moneyed engine of
he most formidable power On this last
point, he uses the following emphatic
language Give the President of the
j. States the b-Treasury hemmed in
ind guarded by all the devices which
he wisdom OF a man can contrlye, and .
will venture the prophecy that not one |
generation will pass away, before the {
rammeIs will be removed, every obsta- 4
lie be overcome, and your sub-treasnry
will stand forth, confessed to the world. | !
colossal Banking Institution, controll- /
d and directed by the Executive and his Z
ninions,n and s.wo TO that country which l(
ball ever witness the consumation of so S
an alliance ~ Shall we. fell q
Nv citizens, in the hcadIong career Of !
scnseless party spirit, turn deaf ear |,
these warnings Of far seeing and Ii,
atriof philosophy, coming in aid of the 4
lstinctIye suggestions Of our own com a
on sense And yet my refusal to blind Il
follow the lead Of the President, ini Il
Ippart of system 50 characteristic by II
o united voice Of reason and philoso-
y, and conden5ed in advance by fi1e b