Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1840-10-08

VIC ChAeSc N,tdNSs IIe HdHlieSteO ueSlI(
how originating, or by whom inspired, is in
material, to exercises political influence owe
| that institution, and to cause that institutio
to exercise in turn, political influence owe
the community. Published documents prov
this, as plainly as they prove any act of hi
administration. In this desire he was resist
ed, thwarted, aud finally defeated. Butwha
he could not govern, he supposed he coul,
destroy; and the event showed that he di,
not overrate his popularity and his power
He pursued the bank to the death, and a
chicved his triumph by the Veto of 1892
The accustomed means of maintaining
sound and uniform currency, for the use o
the whole country, having been thus tramp
led down and destroyed, recourse was had &c
these new modes Of experimental admins.
tration, to which we have already adverted
and which terminated SO disastrously, both
Tor the reputation of his administration, and
for the welfare of the country.
But Gen. Jackson did not DENY his consti-
tutional obligations nor seek to escape from
their force. He never professionally aban-
doned all care over the general currency
His whole conduct shows that he admitted
! throughout, the duty of the General Govern
ment to maintain supervision over the cur
roncy of the country, both metallic and paper,
for the general good and use Of the people !;
and he congratulated both himselfand the ma
ton, that by the measures adopted by him,
the currency and the exchanges of the coun-
try were placed on better footing than they
ever had been under the operation of bank
of the United States. This confidence in
his own experiments, we know, proved most
iilusory. But the frequency with which he
repeated this and similar declarations, estab-
fishes, incontestably, his own sense of the
duty Of the Government.
In all the measures of Gen. Jackson upon
che currency, the present Chief Magistrate is
known to have concurred. Like him, he was
opposed to the Bank of the United States
like him, lac was in favor of the State Depo-
site 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 and the
exchange.
But the catastrophe of May, 1887, produ-
ced new crisis, by overthrowing the last in
a series OF experiments, and creating an alb
solute necessity, either of returning to that
policy OF the Government which Gen. Jack
son had repudiated, or of renouncing alto
gether the constitutional duty which it had
been the object of that policy to perform
The latter branch of the alternative was a.
dopted. Refuge was sought in escape. A
duty, up to that moment admitted by all, was
suddenly denied, and the fearful resolution
announced, that Government should hereaf-
ter provide for its own revenues, and that for
the rest, the People must take care of them
selves.
Assembled here, to-day, and feeling in
common with the whole country the evil con-
sequences of these principles, and these
measures, we utter against them all, from
first to last, our deep and solemn disapproba-
ton and remonstrance. We condemn the
early departure of Gen'l. Jackson from that
line of policy which he was expected to pur-
sue. We deplore the temper which led him
to his original quarrel with the Bank. We
deplore the headstrong spirit which instigat-
ed him to pursue that institution to its de-
struction. We deplore the timidty offs omc,
the acquiescence of others, and the subscrvi-
ency of all his party, which enabled him to
carry its whole, unbroken phalanX to the sup
port of measures, and the accomplishment of
purposes, which we know to have been a.
gainst the wishes, the circumstances, and the
consciences of many of the most respectable
and intelligent. We depore his abandon
ment of measures that had been pursued for
forty years his rash experiments with great
interests and the perseverance with which
he persisted in them. when men of different
temperament must have been satisfied of their
uselessness and impotence.
But Gen. Jackson's administration, autho-
rity and influence, are now historical. They
belong to the past, while we have to do, to-
day, with the serious evils, and the still more
alarming portents of the present. We re-
monstrate, therefore, most earnestly and en-
phatically, against the policy upon this sub
ject of the present administration. We pro-
test against the truth of its principles. We
! deny the propriety and justice Of its meas
ures. We are constrained to have too little
respect for its objects, and we desire to rouse
| the country, SO far as we can, to the evils
which Cypress and the dangers that surround
us
/ We insist, that the present administration
has consulted its own party ends, and tho
preservation of its own power, to the mani
fest neglect of great objects of public inter
est. We think there is no liberality, no po
litical comprehension, no just policy in It's
leading measures. We look upon its aban
donment of the currency as fatal, and we re
gard its system of Sub-I'reasurers as but
poor device to avoid high obligation, or a!
the first in new series of ruthless expert
ments. We believe its professions in iavo
OF hard-money currency to be insincere
because we do not believe that any person o
common information and ordinary understan
ding. can suppose that the use of paper, as
circulating medium, will be discontinued, C
ven If such discontinuance were desirabl
unless the Government shall break down tn
acknowledged authority of the State Govern
ments to establish Banks. We believe tn
clamor against State Banks, State Bonds, an
State Credits, to have been raised by tn
friends Of the administration TO divert publ
attention from It's own mismanagement, an
to throw on others tile consequence Of II
own misconduct. We heard nothing of a