The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-10-12

~ iron has sunk so deep thai they VIII sink the country
to save themselves, look upon you the great
body Of our eowci.izens, as 30 dead to every sept-
ment o patriotism as TO forget that you have eoun-
try 10 save as well ss party 10 serve"
The weapons Of warfare against the Credit System
are the Sub treasury scheme asd tho Bankrupt Law
applicable TO Corporations and other Bankers and Fe
defa Locoiocos ask you aid them in attaining these
objects Their opponents charge upon them and their
the authorship OF eslanities and demand
change OF administration and aresoralion Of sslutsy
| measures OF government Which OF these two diyi-
sions 10 in the nghti II is for you, fellow citizens, 10
decide and you TO bear the burthens or reap tie
benefits Of that decision.
Is the federal loco foco administration right and will
you as people aud nation be benefited by the nme-
date and total destruction Of your credit system,
through which your fathers gained for you freedom and
independence and by which your private enterprises
have been prospered, your industry rewarded and your
country exalted beyond any parallel IN the history Of
| man Or are the federal oco-focos wrong and would
the adoption 0! the Sub reasuy scheme and special
bankrupt law prove destructive TO all your remaining
private interests, TO the form Of your republican GO
sernmeni to your freedom and Independence as peo-
| Pile, and your honor and glory as natonl The issue
is distinctly made up, the President has himself given
the battle cry, the watchword Down with the Banks
resounds through the sposa,e and renegade ranks, the
ctors Of his party ashing up the aggards and grum
bling followers IN the ranks and all eyinec their tho
rough consciousness OF the importance OF the stake and
| the irrevocable consequences Of the struggle.
4 Inc solemn question To De determined ny you IS
who the authors of the present national evils -
Who hath laid tho pecunary blockade upon our CON-
mercei Who hath brought down the agricultural pro-
ductions and closed the granay of the farmer for the
want OF remunerating pricei Who hath caused the
mechanic arts 10 be suspended or sackened and sent
the industrious aborer forth, wander IN the commu-
nifty without employ ment and without bread Who
hath suspended the great works Of internal improve
ment which have caused the wilderness 10 bud and
blossom as the rose, and brought into proximity
spread tcrriioyi Who hath taken our property from
us without consent by reducing the value Of pos
sessions, crampng enterprise, and deprlvng industry OF
1 it's reward Who is to answer for the miseries in
store for the unemployed poor during the approaching
Indictment season. when the pressure Of the times has
closed the hands that gave employment and exhausted
the Golfers from whence flowed the blessed streams Of
charity and assistance Who is to for the in
creased generalization and produced by the strug-
gle to npton the foundations upon which society has
| rested which poluting the moral atmosphere and
filling our prisons with victims Of crime consequent
upon their misfortunes IL it the Banks the Fede-
| raj Government!
| Fellow Citizens! We have had banks under all the
| administrations Of the Federal Government We have
always been accustomed 10 them cities and
| villages We have found them in general directed by
men in whom their neghbors repose the utmost conf
dence--aids to commerce. agricultural and mechanical
pursuits giving TO virtuous poverty equal chance Of
success with inherited and acquired wealth and en-
/
TO gold and silver and greatly convenient: and
neither the banks as such, those institutions
joined with any other administration OF the federal
government have brought upon the country the
curse which aiicts it. II the evils suffered
innate the banks how skiful must have been the
administrations Of Jefferson and Madison, OF Monroe,
Adams and Jackson, not to have brought them
into action And how deporably ignorant must have
| been Mr. Van Buren, to make shipwreck with his
first touch OF the helm Of the national government -!
~.
ment treated as belonging the people, and as
trust to be administered for their benefit The State
Banks have always belonged to the people. In times
Of the banks sustained the government, and days
OF peace the government tho banks and the people pur
sued uniform of advancement and prosperity;
| the nation honored and the people blessed. But
under the administration Of Mr.. Van Buren,, when the
government is treated the private property OF tho
present incumbent, and his highest and his
patriotic sentiment is to look out for himself, and
| leave the people to look out for themseves--we
have experienced destructive upon the credit sys-
tem-he parts Of the body polite, which before har-
monized now present Earring aud discord-and the
ton has sunk from one abyss OF misery to another,
until the gulf Of affection seems boltomless, and
lecture abandons the hopeless attempt fix its depth
Under our present system Of laws, the people
the banks, and the banks the people and in the
prosecution Of their business well the facilities
| and benefits they confer all citizens have equsl
| rights and privileges. With much reason and good
might your fears be excited and your hostility
aioused against your manufactures, your mills and
your transportation companies against your State
Banks and you might as nationally expect TO be bcne-
fitted by the destruction Of your ploughs and implc
ments Of husbandry Instruments Of art as by the
destruction Of your credit system Do you feel the
of money to facilitate and transact the vast trade
which exists within the limits OF our State What
causes this distress, and stops the richly laden Of
commerce the road Is because the banks do not
lend the money, and there has been gradual with
drawing Of the paper circulating medium What. then,
has caused the banks to discontinue cur,ail their
transactions. and withhold the supplies which is their
interest well their business to furnish you II is
because the whole power. influence, energy, and
sures Of this Federal Locofoco Government wagng
a war Of determination against them; and it has sent
forth its decree for their destruction, aud for the de-
sructon Of your interests and your property in so far
as they are connected with them that their arm has
been shortened, their assistance diminished and the
great financial interests Of the country parayze Can
you remedy the existing evils growing out Of wan. Of
a circulating medium by destroying the little you now
have Will you BIO better of with less when your pre-
sent misery flows from having too little! Will you
desire bread because you cannot from the oppres
| sion Of your rulers, enjoy the whole loaf.
Fellow citizens are no advocates, apoogsts, or
defenders of the banks, associations interpretations
We look only to the great Credit System under which
the country prospeej until made the object OF
attack by the ovcrshadowing power Of the federal GO
| vernment and uphold it as the shield Of The
people from the total ruin Of its We feel the
hard blows Of its enemies upon us in common with you,
and point YOU to the that strikes aud not to
the instrument through which you feel the struggle,
| the Just object of your indignation.
We have referred you the past experience Of sue
cessfu enterprise and prosperity under credit sys-
tenn and the melancholy produced by the Fede-
raj Locooco Government warfare upon IT, TO show that
it the conduct Of your rulers you 10 look for
the sources Of your discomfort. The measures they
have recommended and the they have pursued,
exhibit, adequate for the suerngs OF the nation,
and point you the only successful remedy Tho
credit system and the business Of our citizens have
always been based upon confidence. The war Of the
and fhc Intenendencn of