Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1840-09-28

currency of the country both metallic and 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 on
better footing than they had been under
the operation Of Bank of the United States
| THIS confidence in his own experiments, we
know, proved most illusory. But the frequency
with which he repeated this and similar declara.
tons, establishes, incontestaby, his own sense of
the duty of government.
| In all the measures of Gen. Jackson, 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 Deposilc Banks and like
him he insisted that Ivy The aid of such Banks, the
administration mad accomplished all that could be
desired on the great subjects Of tho currency and
the exchange.
But the catastrophe of May, 1897, produced II
new crisis, by ovrrlhrowng ;he last i'll n series Of
experiments, and creating MI absolute necessity,
either OF returning To that policy of the Govern
ment which Gen. Jackson had rrpudiatcd, or of
rcnolhring altogether the constitutional dury
wirh II had been lie hcct OF that policy to per-
form. The latter branch of the alternative was
adopted. Refuge WAS sought IN escape. a duty,
up 10 that moment admitted by all, y ms suddenly
deiied, aud the fearful resolution announced, that
Government Should hereafter provide for its own
revenues, aud that for the lrs tho People must
lake care of themselves
Assembled here to day and feeling in common
with the whole country the evil const qnences Of
these principles, and these measures, we utter
against them all, from first TO last, deep and
solemn dlsappruhation aud renlousrance. We
condemn the early departure of Gen. Jackson
from that line of policy which lie was expected
to pursue. We deplore the temper which led him
10 his original quarrel with the Bank. We depiore
The headsti ong spirit which iusligated him TO pur-
sue that institution 10 lis destruction. We dcpore
The tnidUy ct some, the ncqniesctnce of Oth'rs,
aud Tie subseIviency Of all his party, which ina
hed h'tu TO carry lis whole, unbrokpn phalanx to
tie support OF measures, and the accomplishment
OF purposes, wh ich We knew to have been against
The wishes, the INCONSISTENCIES, and the cOnscen-
ces OF many Of the most respectable and intelli-
gent. We deplore his abandonment of measures
that had been pursued for forty years; his rash
experiments with great interests; and the persc-
veranca with which he persisted in them, when
men of different temperament must have been
satisfied OF their uselessness md impotence.
But Gen. Ju,kson's administration, authority
and influence, are now historical. They belong
to the past, while we have do, to day. with The
serious evils, aud The still more alarming porenls
ct the present. w . demonstrate, therefore, most
earnestly aud emphalically, against the policy up
Oh tins Subject of the present administration. We
protest against the truth OF It's principles. We
deny the proprleiy and justice OF its measures
we nre constrained TO have too little respect for
".
far as we can, to The evils which Cypress aud the
dangers that surround MS.
We insist, that the present administration has
consulted iN own purity ends and the prest rvaiion
of its own power, 10 the manifest neglect of grea,
O5lecis of public interest. We think there il no
l'beraiy, no political comprehension, no just pol
icy IN IFS Ieadsg measures. We look upon lis
abandonment of the currency fatal, ami we re-
gard its system of sub treasures as bul poor de-
vice TO avoid high obligation, the first in II
new series Of ruthless experiments We believe
its professions in favor Of a hard money currency
TO he nslncere; because we do not believe that
any person OF common information and ordinary
understanding, can suppose that he use of paper,
as circulating medium, will be discontinued even
1t such discontinuance were desirable, unless the
Government shall break down The acknowledged
authority of the State Governments to establish
Banks. We believe the camor against Stnte
Banks, State Bonds, and Stale. Credits, TO have
been raised 10y the friends of The Administration
TO divert public attention from lis misinannge.
ment, and 10 throw on Others the consequence Of
| its own misconduct. We heard nothing Of all
this in the carly part of General Jacksnns ud-
| min lstraio,i, until his msasures hal brought
the currency oi the country lhlo the utmost dis
order. We know, that in lime pa,s The present
Chief Magistrate has, of all men, had most 10 do
with the sNsiens OF the State Banks, the most
faith in their usefulness, and no very severely
chaslened desire 10 profit by their Influence. We
believe thai the purpose OF exercising u money in.
| fiuence over the community has never departed
from the Administration. What it could not nc.
compli,h lay an attempt to bend the Bank OF The
| United States 10 its purpose, we eIisvc it has
sought, and now seeks, 10 effect by its pYasei Of
the Sub-Treusury. We believe, that in order to
maintain tie principles upon which the system Of
the Sab Treasury is founded, tie friends Of the
Administration have been led 10 espouse opinions
destructive OF de iuterua CONNIE &c Of the conn
Try, paralyzng to it's whole industry, tending 10
sink It's labor, both IN price and ta character, 10
the degraded standard of tie uDinfOrned the ig-
norant, the suffering !aborcrs vi ,he worst parts of
Europe. Led by The same Necessity, pushing
the same principle still further and with a kind OF
revolutionary rapidny, we have seen the rights ol
property not only assaiied, but deHied-the box
dest agrarian notions put forth the power Of
TRANSMISSION from father to son openly denounced
| - the right OF one 10 participate in the earnings
OF another, TO the rejection OF the llslHral elaas
OF his own eh,kssen, asserted ms fundamental
principle of the new Democracy and nil his by
those who are in the pay of Government, reeeis-
ing large salaries and whose offices wond b6
nearly sinecures aut foe The labor J,ertorpeh iD
the attempt 10 give currency To these prlnet he's
and these opinions. We believe that the general
tone OF the measures OF the Administrations, the
manner IN which il ccniers iavors, its appaHcnt
preference for parlzans ot extreme OpInrous, tho
readiness with which IL hesiows its cobfaenes on
the poldest and most yoeni,nre producing senIouS
injuries upon the political morals anal geAsrae
sediments %! The c0tiIlry. We believe that to
this cause is fairly to be attributed the mest la
menIable change which has taken p aes ia the
temper, the sobrely, aud the wisdom with which
the high public councils have been hitherto eon-
Quoted. We look with alarm TO the existing sale
OF things in this aspect and we would most ear-
nestly, and with all our hearts, as well for The
honor OF The country, for it's interests, beseech
all good men to unite with us in AN attempt To-
bring buck the deliberate age Of The Government,
10 restore to the collected bodies of the peopls'.
Representatives that selfrespect, dccorrnl, aad
dignity, without which The business of legislation
eau make no regninr progress, aud is always in
danger either of accomplishing nothing, or OF