The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-03-27
IH0Dias RitcKss, S>r,,,,y,..
Hugh A. Garland, s's'1''es'

Mr.. Tucker " Judge OF the Court oil APP
penis Mr.. Brockenbrough is President Of
the Bank Of Virginia; Mr.. Richie is the
editor orthe Enquirer; Mr.. Garland is Clerk
Of the House Of Representatives, and Mr.,
Dromgoole is member Of that body. or the
standing ofthe other three gentlemen, we have
no knowledge.
The former high standing Of some, and the
present standing OF others Of the above named
gentlemen, is well calculated to give weight to
any document bearing their signatures; and,
particularly, to induce the public to place the
fullest reliance in the reracity Of oil the state
ments made under their authority. Had we
have been told that these gentlemen had GER
tilted to statements directly at variance with
facts and truth, we should have hesitated to
believe the representation, without evidence
being adduced to sustain the assertion.
The address, after speaking Of the progress
Of the deposite system, states:
"But in May, 1887 the whole scene was changed
All the banks Ia the country, by Simultaneous
movement, suspended specie payments. This left
the Government pennyess and helpless. BY the laws
then In force Il was not al liberty, II unhappily il
had been disposed, 10 receive notes of non-specie
paying banks in payment Of the revenue, nor were
the disbursiDg officers permitted 10 tender such notes
to the public creditors. or the thirty-two millions
in the vaults of the banks, the Government could not
command dollar, and, so far as Il depended on
these resources, every officer in public service, the
whole army and navy, every contractor and laborer
the public works were lefl without pay and con-
sequenty without subsistence"
The meadacity contained in this extract is
unequalled, even by the m.ndacious official
organ Of Mr.. Van Buren, ITSELF The attempt
to convey the idea, that the suspension in
May, 1887, by the banks, was preconcerted,
by calling it a Simultaneous movement" can
be regarded only as designed TO deceive the
minds Of the people, and unworthy men who
claim to be guided by honor or even common
honesty. Then, as to the assertions that, "the
Government could not command a dollar" Of
the thirty-two millions il had on deposite in
the banks when they suspended specie pay
ments; and that $50 far as depended on these
resources, erery officer in public service, the
mhols army and nary, erery contractor and
laborer on the public works ,oere left ,cithout
pay and consequently ,cithout subsistence" the
whole is FALSE and u SHAMEFUL FABRIcA-
TON. There is not one word of truth to be
found in any part Of the assertion.
By an official report of the Treasurer Of
the United States, dated the 30th of August,
the sum in the Treasury at the time the banks
suspended, had been reduced to less than nine
millions Of dollars. This, too, in space Of
less than four months, and by payments made
to the Army, Many, contractors and laborers,
including an instalment to the States. We
venture the assertion, and challenge the proof
to the contrary, that not single officer in the
public service, whether civil, military, or naval,
nor single contractor or laborer .'were left
without pay, and consequently without sub
sistance," in consequence Of the suspension
Of specie payments by the banks, and the
want of availability Of tho funds of the Co
vernment in their hands to discharge all those
having claims upon it.
1t is notorious that, although the banks had
suspended specie payments, yet that their
notes were as valuable as specie for all the
ordinary purposes Of trade and commerce, or
for the purchase Of the necessaries Of life.
There was not single officer Of the Govern
ment who did not find them so. 1t will be
recollecled the ridiculous letter which Mr..
Woodbury. wrote to the Clerks of each House
OF Congress just before the extra session, stat
ing that he would pay the members their mile
age and per diem in specie. Now, we know
the fact that, most OF the members drew specie
and sold it at large premium for paper of
non -specie-paying banks, with which they
paid their board here and travelling expenses,
because it answered the same as specie
thus, in fact, receiving nearly nine instead of
eight dollars per day, as allowed by law.
This, to our knowledge, was done by num-
Der of the Locofoco members from Virginia
Some Of them sold their specie for Virginia
bank notes, thereby obtaining greater pre-
MUM, which they obliged their landlord to
take from them in pay for their board
Again, say the immaculate sponsors to the
report, :" under these circumstances, the Pre-.
sident called Congress together in Septem-
Der" 1t was under the circumstance Of the
inability Of the Executive to execute the
laws, that Congress was called together.
The law enjoined upon the Government,
the dcposting the fourth nstalment with
the States on the lst of October, and the
whole sum in the Treasury on the LIST Of
September was less than the amount of that
instalment That was the reason and the
only reason why the extra session was con-
vened in September, 1887.
What will all honest men nav what