The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-07-14
THE BANKS OF THE DISTRICT.

'rict OF Columbia, which passed the House be-
lore the 'Dinding up" law was enacted, came
up Tor consideration along with the amend
the District, and certain other amendments Of a
most pestiferous character, which were submit
ted by that noisy and weak-headed Federal
Loco-foco, Allen, Of Ohio.
Walker, Allen, Tappan, and Wright joined in
crusade against the District banks, and labored
steadily and industriously to make issues in re-
gard to them for the opposition. But the Oppo-
sitlon Senators tore to pieces their miserable so
phlstry, and scattered il TO the winds. Mr. Mer-
rick. the active, able, and enlightened Chairman
OF the District Committee, set forth the charac
Ter Of the measure proposed in its true light in a
lew brief but cogent remarks The purpose was
TO place the people Of the District Of Columbia
on footing with the citizens of the circuma-
cent States Of Pennsylvania, Maryland and
Virginia
Mr. CRIrTENDEN opposed the destructive
amendments" Of Pettcoat Allen in speech
OF great power, both in argument and eloquence.
Mr.. CRIrTENDEN animadverted with remarka-
Die force and spirit on the declaration Of FEEDER.
al Loco Focoism that Congress should make an
example of the principle Of the Sub-Treasury
System in the District Of Columbia What he
asked, has il become necessary to furnish an IL
iustration of your hard money doctrine within
the devoted "Ten Miles Square Z" Must you
set up your lights here to illumine the country
and bring proselytes to follow in your footsteps
Have your speeches been all in vain, your mes
sages, your documents, your intermnable ha-
rangues delivered from day unto day, and from
night unto night Yes, they have been vain,
utterly fruitless and unproductve. What State
has gone according to their hard-money doc
trines What State has established the policy
by its own legislation Not one And now
the administration and its friends baffled in eve
ry other quarter, seize upon this district, and in
defiance Of the wishes and sentiments Of the
people here, in contempt of their wants, in deri-
sion of their sufferngs, go on composedly to
make an experiment, to illustrate the Sub Urea
sury principle. They go on in this work, viola
ting at every step, the fundamental principle Of
all free government, the riH of the governed,
the right Of the people to determine what is ne
cessary for their happiness.
They will make an example in this District !!
and our free and intelligent fellow citizens
throughout the land will say, when they hear
of it, that it is an example which reads 10 every
lover of constitutional liberty solemn warning
II exemplifes most strkngly how prone men
| are to exercise power for the most mschievous
| .uha ~ lall
and direct responsibility. Suppose these mer
possessed the same power over all banking
institutions, which they have brought to beal
against the banks of this District, would they
not have hesitated TO exercise it? Or if they
had dared to send forth decree of destruction
to them all, as they have done to these institu-
tons, would not a storm Of Indignation be
aroused, which would sweep the destroyers
from their paces2
| Mr.. CALHOUN, of South Carolina, alleges thai
as ga guardian Of the standard Of value, he can
not vote TO extend the corporate existence of The
District Banks" A guardian of the standard
OF value! The tone of the Senator is changed
from that which he employed when the propo
stion for rechartering the Bank Of the United
/ states was under discussion.
Then for the purpose of reconclng his sup
port OF the proposition TO recharter the Nationa
Banks with his constitutional theory, he argued
that Congress might 60 on, even in violation Of
the Constitution, in order to prevent the mis-
chiefs which would flow from the destruction O
the Bank !! Such was Mr. Calhouns course
such were his opinions when the National Banl
was concerned. II is only when this District il
to be affected, for veal or woe, that the honora
Bile Senator is oppressed with the memory tina
he is "gudrdian Of The standard of rdiue ?
Where the power is unquestionable and all-com
prehensive-thcre, in the very phrenzy of pre-
tended reform but of real destruction-the Sub
| Treasury men go on unrestrained by any regard
for the will or interests of the community, to ex
tinguish their institutions by legislative enact
ment! Where the power is conclusive and ac-
knowledged, there the banks are struck down
and the people are deprived Of all the accommo-
daton which they were accustomed to afford
Is this punishment Of the banks !? These in
stitutions mere agents for the accommoda
ton of the people. And the action of Congress is
compelling them not only TO refuse accommodate
ton but to proceed in coercing the collection OF
their debts.
The Administration and its adherents act as
if they supposed the people Of this District were
deprived of all sensibility, as well as destitute Of
political power that it would be waste OF
sympathy to think of what is due to their feel
ings, their thoughts, or their wishes that they
| are only f,f IN he eynerimente tod unop Rut lat
them remember that these destructive measures
reach others. They reach the people Of Mary
land, Virginia, and Pennsylvania, most nearly