The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-06-02

Though we may set out in the beginning with
Moderate salaries, shall find that such will not be
Of long continuance. Reasons will never be wanting
for proposed augmentations. And there will always
be party for giving to the rulers that the rulers
may be able in return, to give more 10 them Hence,
all history informs u.s. there has been in every State
and Kingdom constant kind of warfare between the
governing and the governed the striving to OBJ
lain for its support and the other TO pay less.
And this has alone occasoned great commissions,
and actual civil wars ending either in dehronng OF
the princes, or enslaving OF the people Generally,
indeed, the ruling power carries its point They
never satisfied but always in of more. :.
There is scarce n king in hundred, who would not,
Il he could, follow the example of Pharaoh-gct first
the peoples money, then all their lands, and then
make them and their children servants forever BEN
je0ir Frankiin-Debate in Contention
We publish in this days paper the amendment
offered by Mr.. Davis. of Kentucky, to the bill
making appropriations for the civil and diplomatic
expenses Of the Government; and which was
rejected we believe, without receiving single
Administration vote. Ii furnishes a striking
evidence of the duplicity Of the Federal Loco
loco party Of the House, and Of the hollowness
Of their professions Of economy and retrench-
ment
That party are now pressing, and with the as
y tance Of the FIVE members from New Jersey,
who were struggled into the House, aided by
fraud corruption and perjury, they have the
Sub-reasuy. This measure, its friends pro
claim, Is 10 effect great contraction in the bank
circulation Of the country; and is to reduce ma
terlally the wages Of labor and the prices Of all
property. Il Is intended by its authors TO esta-
6tsh, as 1t Will inevitably, one currency for the
othceholders, and different and baser one for
the people. Besides locking up ten millions OF
geld and silver perpetually in the vaults of the
treasury, another result Of making il the only
medium Of the payment Of debts due to the U
States, viii be 10 Danish, probably, as large an
amount from circulation. This exclusion by the
Government Of current bank paper from its re
ceip,s, of more than thirty millions of dollars an
nualy, operating with the reduction Of the metallic
circulation 10 the extent that il will be boarded in
the Treasury, will impart TO gold and silver q
value considerably above the par of current bank
paper The consequence viii be, that indivi
duals viii hold up from circulation an amount o.
hard money equivalent to, or greater than the de-
mand, that viii thus be created, and sell it a
merchandise. 1t is an immutable law Of cur
rency, that less valuable medium always ex
ciudes in higher or lower degree the superio
one from circulation, and the latter instead 0
being exclusively the medium, becomes itself tn,
subject Of purchase and sale.
The friends Of the Administration have said
that the Sub-treasury has been in operation sine,
May, 1897, and in the arrogance Of their powe
have boldly declared, that it should continue un
n l34l, (when Mr.. Van Buren's reign Of mis-
rule and ruin terminate :" in spite Of lamenta
lions here or elsewhere" That position i
strictly tue-ihe Government exacting its due.
IN gold and silver, paying its officers aud agent,
II the same medium, and all its collectors, in
Guiding Swartwout, Price, and other defautins
Suh-tTeasurers. Under its imperfect operation
gold and silver'have beenfreely bought and sold
aad commanded premium, ranging betwee,