Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-10-08

was not undertaken to destroy The rights
OF property, or overthrow the obliga-
ton OF morals. \
But unhappily, he became involved in
Il controversy with the then existing
Bank Of the United States. lie mani.
tested desire, how originating or 10y
" HON inspired, is imn'aterlal, to exercise
a political influence over that institution,
and to cause that institution 10 exercise
in turn, a political influence over the
community. Published documen nls prove
this, as plainly as they prove any other
act OF his administration. In this desire
he was resisted, thwarted, and finally
defeated. But what he could not govern,
he supposed he could destroy and
the event showed that he did not over
rate his popularity, and his power. He
pursued tie Bank to the death, and
achieved his triumph by the Veto Of
1882. The accustomed means Of main
tainng sound and uniform currency,
for the use ol the whole country, having
been thus trampled down and destroyed,
recourse was had to these new modes oi'
experimental administration, to which we
have already adverted, and which ter
minated so disosirously both for the repu-
tation Of his administration, and for the
welfare Of the country.
But General Jackson did not deny his
constitutional obligations, nor seek TO
escape from their force. lie never pro-
iessedly abandoned all care over the
general currency. His whole conduct
shows that he admitted, throue ehout, the
duty of the General Government to main
tain supervision over the currency OF
the country, both metallic aud paper, for
the general good and use Of the people !;
and he congratulated both himself and
the nation, that by the measures adopted
by him, the currency and the exchanges
OF the country were placed OIL Il better
footing than they ever had been under
the operation Of Bank of the United
States. This confidence in his own ex-
perlmeDts, we know, proved most ilusory
But the frequency with which lie re.
poatcd this and similar declarations, cs-
tablishes, incontestibIy, his own sense Of
the duty Of government.
HI oi thC VI NSh' SuChsoti
upon the currency, the present Chief
Magistrate is known TO have concurred.
Like him, he was opposed to the Bank
Of the United States like him, he was
in favor Of The State Deposite Banks ;
and like him, he insisted, that by the aid
of such Banks, the administration had
accomplished all that could be desired
on the great subjects of the currency nnd
the exchange.
4 But the catastrophe Of May, 1887,
produced new crisis, by overhrowing
the last in series of experiments, and
creating an absolute necessity, either of
returning to that policy Of the Govern
meni which General Jackson had rcpu
dated, or Of renouncing nltog ge,her ,h'
constitutional duty which il has been th'
object Of that policy to perform. Th'
latter branch oI the alternative was adOp
ted. Refuge was sought by escape
A duty, up to that moment admitted b,
all, was suddenly denied, aud The fcarlu
resolution announced, that Governnen
should hereafter provide for its own reve
nucs, and that for the rest, the peopl.
must take care OF themselves.
Assembled here, to day, and feeling il
common with the whole country the evi
conse qucnccs Of these princi pies, ant
these measures, we utter against then
all, from first to last, our deep and sol
cmn disapprobatiou aud remonstrance. -
We condemn the early departure Of Gen
Jackson from that line Of policy whic
he was expected To pursue. We deplor
, the temper which led him to his origin;
quarrel with the Bank. We deplore tn
headstrong spirit which instigated him
= pursue that institution to its destruction
n We deplore the tiniidity of some, tn
E acquicscence OF others, and the subser
viency Of all his party, which cnable
: him to carry its whole, unbroken pha
. lanx TO the support OF measures, and tn
y Accomplishment OF purposes, which W
: know 10 have been against the wishes
= the remonstrances, and the conscience
[ of many of the most respectable and in
= tclligent. We deplore his abandonment
= Of measures that had been pursued ia
: forty yeais his rash experiments wit
great interests and the perseverance
] with which he persisted in them, whe
. men of different temperament must hav
{ been satisfied Of their uselessness al
{ impotence.
= But Gen. Jackson's administrative
h authority aud influence, are now histor
3 cal They belong to the past, while "
$ have TO do, TO day, with the serious evil
r and the still more alarming portents
u the present. We demonstrate, ther,
C fore, most earnestly and emphaiicall,
= against the policy upon this subject,
: the present administration. We prolc
against the truth OF its principles. w
. deny the propIiety aud justice OF
: measures. We are constrained to ha'
= too little respect for its objects, aud "
IS desire to rouse the country, so lar as
IN can, to- the evils which cypress and Il
la dangers which surround us.
Ia We insist, that the present adminisir
A. ton has consulted its own party enc
F. aud the preservation Of its own power,
N the manifest neglect Of great objects
Is public interest. We think there is
= lberalty, no political comprehension,
IN just policy in its leading measures. '
k- look upon lts abandonment ol the curr.