The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-03-28
From The Ncic York Times
GOVERNMENT SPECTATORS.

In the Neto Era Of the 10th instant, find the pro-
ceedings of Federal Loco-foco meeting in the Third
Ward, at which, according to the published report,
FRANCIS p MARBERRY, Esq delivered :" a mos,
eloquent address," This gentleman is the Deputy
District Attorney Of the United States, under b. F..
BUTLER, Esq. The prominent topics discussed by the
spokesman OF the meeting were the "credn system"
and moneyed corporations which denounced in
the stereoyped party slang. Among the resolutions
which received the commentator OF Mr.. Buffers de-
putty IN his " most eloquent address," the follow
ing:
Resoired, That the election Of Harrison would be
public evil Of the greatest magnitude, inasnuch
would surrender The government 10 horde of specu-
fdfors aud would renew the contest which has just
minated between the people and federal bank
Now while find Mr. Butler thus sending his de-
putty TO attend Federal Loco foco ward meeting TO
aid 10 passing resolutions got up for political effect de-
nouncng the :" credit system" m0neyed ineorpora-
IONS and an imaginary horde Of SPECTATORS" the
report OF the investigating committee Of the Manhattan
moneyed incorporation informs that the late member
OF the cabinet and his brother have been using "the
credit system to speculate Chicago lots and through
the facilities afford by that same credit system have
borrowed TWENfY-SIX THOUSAND dollars Of
the above mentioned loco foco pet chartered monopoly,
securing % the same by mortgage, payable in ls43
on one hundred Of the said lots
The value OF this mortgage security may be estima-
ted by reference to the following extract Of letter.
fiom highly respectable resident Of Chicago dated
March 5,h, 1910
LAND Is perfect drug in our market Il will not
bring any thing. llnoians count acres by the miiion
and dollars by the unit Any attempt to dispose OF
land here would be esteemed practical Joke OF the
first water, emitting the perpetrator high niche N
the temple Of wit or to straight Jacket"
We perceive also from the report Of the committee
that stock Of the american Lind Company is hypo,he-
| Gated with the Manhattan Bank, by Mr. Butler, the
President Of that horde Of Spectators" into whose
hands the government has for the last few years
been surrendered" These Specializing members OF
| the Administration having organized their mammoth
monopolies enabled from their peculiar position,
to levy contributions upon every pet bank they might
find 1t convenient to patromse. These institutions
dared resist Their demands Could the Whites re.
fuse ureniysr thousand dollars 10 fhe Auorsev Geaer.
al Of nc UHited Sdfss and the President of the Amer
Lqad Conpanyi Surely not-eveu though the
only security offered Chicago lots!
This horde Of Government spectators from Butler.
Kendall, Wright and other Presidents even all the way
down 10 Barnsbas Bates have levied black mail upon
the pet banks throughout the whole Union Could ali
these banks be thrown open for public investigation
~hata spectacle would DO presented on their books Of
transactions with this Government horde" IN the
shape Of DISCOUNTS loans upon Chicago lots or other
Uoplan property aid hypohecated stock Of the Amen
can Land Company, &c, &c. Yet these persons are
weak enough to suppose that they can blind the ewes
the public by spoung Loco focoIsm at ward meetnp.
and proposing resolutions dcnouncng banks and specu.