The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-03-02

ana ss.,sm would enlarge the patronage ana Pow
- ,hs General Government 70 an sm S. Gnssrn.
.assr and IL successful, parayze tne on s,.,e
~sn,s by the destruction Of the state PAM. 4.
mem. "a State Institutions But the whole system -
.nar,.cabls. and il is time that the country shoa
up. ,h.t sueh Il the opinion OF the whole sense' 49,
lie sinclc exception Of the Senator nom M'ssou''
SELF
II .vsrv word Of which most heartily Goneus'
and do moi doubt the consequences - his COM
aa;rss~I appeal to this nation, II have no. proved
=, ,hsir entire satisfaction, my own CONSISTENCY anu
sSs,oc The friends with which ACT mere ana tha'
ma. ,ho denounce aud siigmatze us, have, them
hose rhssea 10 the right about and changed their
seNes, as;,;on Were those gentlemen serious IN
own popinions then II they were, how cruel their
;mnutaiions against us now.
Da ,Sssocialed weallh--much about the productive
aUS unproductve classes. The gentleman from
M AM Carolina (Mr Bynum,) In the course OF his
rsmarks few days since, INDUCED much In this
vain Of sarcasm and inveciive. Sir, without aliud-
vs. narticularly to the member from North Carolina
have, in times gone by been much amused with
those gentlemen who claim 10 themselves to be the
ocular friends Of the people. But have generally
found that their friendship consisted more IN pro-
fession than reality and that they IN their peculiar
regard for the people, have always promised more
than they ever performed. We are always, Mr..
Chairman, very deeply interested Tor the people,
when we are seeking honors al their hands, out We
u
ness have been accomplished. always view, with
great jealousy and distrus these loud professions OF
friendship for the dear people, always think, IN
spite Of myself when aear ne" sha .ner soSel
thing at their hands Sir, what is associated wealth
and who are the productive and unproducltve
ciassesq Associated wealth is the combina-
lion Of capital and rs ay " or, 81 a assac;a,;oe
Railroads, canals, manufacturing, mining, and such
like institutions, may be properlytermed associated
wealth, yet their objects SO far from being dan
gerous, are beneficial to the whole community
Would the gentleman from North Carolina (Mr.
Bynum) pull down all these am sure he would
not Banks are but associated capital, and may re-
ceiye beneficial and safe direction. What, then,
properly regulated, would be their danger3 Assoc
ciated capital is as necessary to accomplish many
national and benefcent objects associated power
is necessary to maintain society ITSELF and support
social institutions. These associations, like all
others of human construction may be abused and
perverted to base and improper purposes; but this is
no reason why they should be entirely destroyed.
Judicous legislation may avoid most Of the evils
attending them. The member from North Carolina,
styles the agriculturalist and mechanic the pro-
ducve, and all others as the unproduclive classes
OF society. This, sir is not the true distinction.
Trade and commerce are as necessary to the pros
perity OF agriculture, as agricultural implements
are to the cultivation Of the SOIL Agriculture, TO be
successful, must have vent to the markets Of the
world and il Is through the mercantile interest that
this vent is formed The interest Of these classes,
then, although directed in different channels, are
intimately connected-founded upon the same bot
TOM and are indispensably necessary TO each other.
Why, then, these constant efforts to enlist the feel
ngs and prejudices Of these classes against the
other, and carry them in deep and deadly hostility.
The interest, convenience comfort and feelings of
mankind, direct their pursuits into various chan
nels and SO far as they are congenia TO the general
welfare and sanctioned by law ought to be cherished,
osered, and protected; and every attempt TO excite
their prejudices and ALLEVIATE them from each other
4 nDf n
gerous to the very existence Of society itself In
stead Of exciting discord, our every effort should be
TO promote harmony, and while we eradicate evil,
maintain good principles and practices.
Mr.. Chairman a bill offered in the Senate Of the
United States during its last session by of the
Senators from Virginia, (Mr. Rives) proposing the
continuance Of the State Bank system, and limiting
the number TO be selected, to twenty five, has been
most violently denounced, and unjusy stigmatized,
as dangerous and corrupt "leagne." Upon this,
like all other paris of The deposite question: there
has been most singular change Of opinion, by the
present administration and its friends from those of
the last General Jackson in two Of his messages
subsequent TO the removal Of the public deposftes
from The Bank Of the United States, reiterated the
political combination, and Mr.. Tanev in his report
above referred to- said the thing was impossible In
situations closely watched by the State Governments
having many separate, distinct, and even rival
interests, and holding their charters at the hands Of
the State authorities, are deeply interested in
the security and preservation of the State Govern
ments, that they would not be tempted into any
bnation fatal to their existence. But, sir in order
10 prove that this "kagne" of State Banks was not
regarded corrupt and dangerous by the late ad-
mnstration as it is BY the friends of the present,
quote proposition made by MIR. Kendall to these
banks in August, 1888, under the authority of the
Executive Department of the Government-after
the removal Of the public deposites, from the Bank
of the United States, had been determined upon:
I" L. That one bank be selected in Baltimore one
in Philadelphia, two in New York, and one in Bos-
ton, with right on the part of the Government to
add one in New Orleans, one in Alabama and one
in each Of the Southern Atlantic States, if it shall
be deemed expedient, and if they shall respectively
aecede to the terms proposed; all which shall re-
ceve the public deposites in the States wherein To-
Gated, and be each responsible TO the Government for
The ,chole amount of the public deposites aohercrer
made"
"That these banks shall have the right and shall
be their duty, when required by the Secretary of the
Treasury, TO NOMINATE BANKS to be employed in the
service Of the Treasury at other points in the
United States prouided thai the said Secretary shall
hare an absolute Negative upon such nomination, and
may at any time, direct any bank enloyed to be dis
charged, and another TO designated in lis place"
In relation to this proposition Mr.. Lewis, the able
experienced, and sagacious Cashier of the Girard
Bank of Philadelphia, says
We consider that there is a strong analogy be-
tween The Bank Of the United States and its branch
ees, as at present organized and the Treasury and
lis selected bank agents. when the selection and APP
Pointment shall be fully completed"
Ml. hiveS Dill proposed to regulate this system by
law and did not contain single feature as objec-
honable as Mr.. Kendalls arrangement, which was
an Executive arrangement; and yel strange, pass
ing strange those who favored that scheme, denounce
Mt kives' as corrupt and dangerous Truly sir,
we live in strange times | have done sir, with the
Deposite System and the Sub.treasury scheme
have proved that and my friends occupy now the
same ground, that we did durirg General Jackson's
administration; and that the charges Of treachery
and deSertion are gratuitous, unjust and unfounded
Chairman II 0f lata haar al
party-much about democracy and much about fe-
derasts. Sir what is party and what are the prin-
cPes OF its organization II it is founded upon the
political advancement OF men without regard TO
measures? then the organization is iegitimate and
unpatrio'ic, and am no party man. Is ii organized
upon principle without regard to men? then its or