The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-05-26

policy is il. that is TO be contaminated by send
ing an Alabama planter to borrow money from .
New York broker-and upon good security
security Of their lands and negroes7 Let the
citizens OF Alabama leave the banks Of their own
States. which the Loco Focos o~n and have
broken; and go begging TO the New York
brokers, whom the Loco Focos have made. and
are sustaining!
Another instance of the double-faced charac-
ter Of this party, is the denunciation Of the OPP
position for their internal improvement The
Globe Of Monday last, has this language:
"MR. DAvIss SPEECH.
1--WE publish the speech Of Mr. DAVIS on the Cum
beriand road appropriation He ably argues the cause
of that portion of the Western poodle who have no4
obtained the advantages promised them in The psr cen
tage SGT apart for the States from the public lands to
| accomplish the work the expectation Of which en-
HANGED their value and promoted their settlement:
We invite attention to that part Of the speech, In
which he quotes Mr. GAYS opinions in 1874 on this
subject and contrasts them with the assigned
in his late speech in the Senate for the given BY
him and his friends which defeated the appropriation
for the present session"
Thus the Opposition are at once denounced
as the supporters and as the opposers Of inter
nal improyement-and the administration APP
plauded, because it is for and against it. This
policy is concocted and agreed upon. The va
rious sections are to be gulled by contradictory
affirmations made by the same man. The
Southern Loco Focos, their presses and public
meetings, assume one ground in regard to the ad
ministration-while with their knowledge and
consent-the Northern Loco Focos and their
presses, take the opposite!
One word, before we close for the present, TO
Mr.. KING. He is clamorous on the subject Of
abolition, noac, when Mr.. VAN buren, wants
the vote of Alabama. Where was his voice,
where were his circulars, when Mr.. VAN buren,
was bargaining for the Northern votes he want
ed? Where was the sensitiveness he now af-
fects, when Mr.. VAN buren, voted in the Senate
habitually for the reception Of abolition petit
tons. A more unprincipled, systematic game
Of imposture, never was attempted to be played
of upon an intelligent People.
GEN JACKSONVILLE BANKRUPT LAW
The sage" Of the Hermitage has declined
the invitation Of the Federal Loco focos to visit
Ohio on the approaching 4th Of July. He thanks
the Legislature Of Ohio for approving his great
measure, the destruction Of the Bank of the
United States, and congratulates them that the
prospect is near when the s'money power" and
all influences adverse TO the genius Of our in
stitutions will yield to the demands Of the.peope.
He is opposed. as much as we are, and no more,
to irredeemable paper money. He thinks, as
things are as bad as they well can be now, that
the Sub-treasury might possibly do good and
that bankrupt law by which the banks should
be bound to make an equitable distribution of
their effects TO their creditors, when they can
not redeem their notes in specie, would be bene
fetal. He says, by these measures " that GRE
DIT SYSTEM which is based on real capital, and
which goes hand in hand with the labor and
enterprise Of our citizens, ucouid be enlarged,
not diminished"
Well, we shall soon see if the administration
will legalize the Sub-treasury, which has been
in operation, as Mr.. Cambreleng said, since
May, 1897; and then low prices, low wages,
&c. and the present condition Of things, will be
established. AS for General Bankrupt Law,
applicable to State corporations well as indi-
viduals, we have no doubt many Of the Demo
cratic Republican Opposition will be willing to
take law with that provision, rather than lose
the benefits of the other clauses. II is true, Mr.
Van Buren,, in 1926, declared such a law unc0n-
sfithionai upon his oath as Senator We
should see whether circumstances have changed
his constitutional principles. If SO, he would
| sign such an act Being passed in that shape,
the Northern and Eastern States would have
deem their bills in specie on demand. The
Middle, Western and Southern States, which
are largely indebted and deeply embarrassed,
and whose banks are suspended, would be the
Of the banks of Pennsylvania Maryland, Vir-
ginia, Illinois and other States, would be incon-
ceivably ruinous. Many of them are glad to
borrow paper money of the banks to pay the
interest on their debts. Europe dstrusts them,
and will lend no more. What, then, would be
the condition of the Middle, Western and
Southern States, if the clause proposed should
become part of a bankrupt law to be passed by
TO answer.
Gen. Jackson does not mention Mr.. Van
Buren,, and from aught that appears is indiffer-
ent about his fate.
ELECTIONEERING ARTICLES.
| The disclosures we have made Of the ma