The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-06-19

government as it stands now, with all its suppos
ed defects, it is the most perfect government whcl
= ever existed"
Z The FUNDING SYSTEM AND THE ORIGIN OIL
l THE UNIFIED STATES BANK.
I Hamilton was the leading spirit of the cabinet
More, as to the future character of the government
d' pended on the organization and administration
OF the treasury department, ut that time, than on
any other department of the government and
Hamilton, true to his principles, set about con-
strncting system which should create an inluen-
ce in congress sufficient to counierac the will OF
the people and assimate that body to the currup,
parliament ofGreat Briam A large amount Of
certificates of public debt for articles furnished dnr-
ing the revolutionary war, was outstanding, winch
had been purchased by spectators at half to one
tenth 0itner nominal amount. Hamilton proposed
to fund these at par, and majority being secured
for the project, some of the members were ena-
bic to make large sums Ofmeaey buying them up
indirectly before the bill passed. His next project
was the assam plion of the state debts contracid
during the reyo uiOnary war and then much depres-
sed, in relation to which much the same game was
played. These means secured temporarily Il ma :
GRITTY in congress- But, says Mr. Jefferson, ''sOnie
engine olnfuence more perlnpnent must he con-
trved, while these myrInidons were still in place
to carry ii through all opposition. This ENGINE
WAS THE BANK OF THE L. s." "Whie the
government remained at Philadelphia, selection
., ''e''oerS W "o'' houses were constantly neP' Us
u"eo'"'s, Mh'' U" every q"es.'uh Interesting !"
'ha' iliS',"oi, or lne views OF 'ne ledeiai head
lo'eu AZ me WIN Vi ''''' hea" ana 'ose'her WIZ"
'he SocNhoo'hs lhei''"ers, c"ud always make me
vote that Oh n'aJ'rity' ny TINS continuation i's-
iSa'Ne eNpos,''ohs were gwen 10 the constitution
lana an ,he administrative laws were sl0peu OH we
h'oaei III i'hs'ahd ana SO passed.
"llere, then, was the real ground" continues
MIR Jefferson, "of the opposition which was made
to the course Of the administration. lis OBJ
Jcct was to preserve the legislature pure and in
dtpendcntof the executive forms and principles,
and not permit The constitution 10 be construed into
monarchy, and to be- warped in practice into all
the principles and pouiims of their tjworil" Eng
liSh model. Nor was this nm opposition to Gen.
Washington. lie was true to the republican char
&c cOnidcd to me- in our CONVEX saOns that he
would lose the last drop OF his blood in support OF
it ; and he did this the oiiener and with the more
carneslness, because he knew my suspicious OF
Hamilton designs against it and wished to quiet
them. For he was not aware Of The drit or effect
Of Hamilton schencs-uNersed in financial prof.
erts aud calculations and budgets, his appreciation
of them was botiomed on his confidence in the
man.
ORrGIN OF PIE REpUBLrc.N AND FED
ERAL PARr.Es.
When ,he hill to establish national hank WA.
presented 10 President Washington. he hesi,n,cd a.
tn giving 1t his approval lie asked the opinion OF
the Secretary of the Treasury ~ to the precise tine
-, vh;,h ,h, ,en DAYS .llowrL ,b. President hy ,h,
c,n.,i,u,;,, IN con.iJ.r a., lin ,y,uld .ynre and
ken, !, until ,he Inst noncu, Tho onin;rns If IN,
n,lor. NJ his cnL;n., ,yer ,,ler and nm ,h,,, no.
cnsion Jelrr.,n and iIoui',ou ,cok ,bpr stands -,
the hcod or ,hn ,,yo arrn, nol;,;cnI schnos uhi.
hnve ey.r .inco J;y;5ed ,hn country Tben ,yo.
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