The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-10-26
Nsao. Englamd, Oct. 1889.
From The Providence Journal.

Tbs loco foco papers laborng with great indus
try and much Ingenuity to prove that the admnistra
ton not responsible for tho present deranged state Of
the currency The attempt is vain the people cannot
be deceived upon this point. The present state of
affairs has been caused By The of The admins
ratioat results directly from the practical operation
Of the subreasury, which lis in operation and shall
continue in operation, in spite OF the lamentations, Of
the people II is precisely the state Of things which
the Wings prophecied would result from these measures
when they first announced. Mr.. Clay and Mr.
Webster told the Senate, that these measures, If per-
sisted IN, would PROSTATE commerce, destroy credit,
and half ruin the country Perish credil--perish
commerce" answered the friends OF the President
"Men who trade on borrowed capital, ought to break,
replied the President himself.
We are now reaping the legitimate fnits Of loco
focosm; we are now suffering under all those evils
which have been brought upon US by an overbearing
insolent wicked administration; administration
which marches with Juggernaut progress, over the
necks OF the PROSTATE credit, and industry
Of the country; an administration which, having in
view nothing hut the maintenance Of its power
and the rewardlng OF its partsans has determined
TO destroy every thing which stands in its way which
has fattered tho passions and the vanity Of the mob
and raised the cry Of the poor against the rch until
u has broken down the institutions which have supplied
the currency Of the country and not those only, but
has broken down thousands who have been laying up
for their old age, the fruits Of long life Of honest in
dustry. All this has been done by the administrations
and the end IS not yet steady and remorseess per-
severance in these measures, such may expect
from the character Of this administration will increase
ten fold the calames under which we suffer. The
banks have been broken, the administration next will
try to break tho merchants the who build ships
and send them to all parts Of the world the men who
build factories and stores and give employment to
thousands Of workmen, whose capital affords employ
ment and reward to the industry Of the county,
be broken down; these men generally opposed to
the administration, and therefore they be broken
down. matter what comes down with them, or who
comes down with them the administration will pursue
its way though every step is crowded with desoation
to the best interests Of the country; it is willing any
time to ruin family to gain vote. Other nations
have of late presented the sad spectacle Of
indifferent 10 the good Of its subjects but has been
served for ours to show government bedding its whole
energies to distress the people, determined to break
down particular class because that class considered
inmical to its pcrpetuation in power!
But how long will the people endure ,hisl how long
will they suffer these repeated dsesses the hands OF
their unworthy rulers That these dstresses have
been brought upon US by the Of the admins
tration, with reason deny, Endeavor as
they may to shift off the responsibility, the naked fact
still stands out undeniablethat before the admnstra
ton commenced its operations upon our currency, it
the bes, currency in the world now il is what we