Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-01-27

The APpreac ching Crisis = Kevoi"tAon OIL
1870.


The city and country are apparently quiet Out IL
is the quiet that precedes the hurr cane. We are
gradually approaching of the greatest Pohucai
contests that ever agtated this nation The crisis
of the banking system-of the commercial system
of the social system-has come at last
In Congress, and out of Congress, the events are
rapidly maturing-the first blow to be struck In the
April election of this city, and the last IN november
next, throughout the Union Ii appears 10 De con-
test between Van Buren, and Harrison; bat il is not
So These respectable sames are the mere repre-
sentatives of different principles OF internal govern
ment ard different views of society. In Congress,
no measure of any importance will pass both Houses
The new treasury system has passed the Senate
but il will not pass the House-neither will general
bankrupt law-nor a new public land law. All
these measures, including the tariff and abolition
will be discussed, but nothing will be done Yet the
session of Congress will be deeply important one
Their debates will have the effect of rousing the
country from their apathy, and OF marshalling the
forces of both parties in their mghtes strength for
the fall elections.
The contests of 1887 and '3s were merely prelimi
nary to the now approaching. Since the hrsl
establishment of the government under the present
constitution, by Washington. its internal policy has
been vacilla,ing between the ideal democracy of
Jefferson and the practical democracy of Hamilton.
The original principles which divided the cabinet of
Washington are still in full conflict. The banking
principle is only modification Of the same principle
applied 20 currency which marks the institution OF
associated municipalities in n wv England, now
spread over the whole country Since the first bank,
created by the old confed they have increased
10 seven hune red or More. The contest between a
sub-treasury system, (Which is only bank in dis.
guise land national bank-or between national bank
the principle is alike in both. Neither any
party or both parties destroy the banking system.
Mr. Van Buren,, in his last message, has placed his
fortunes on a conflict with the banks-but in fact and
in truth it is with the spirit OF civilization and prac-
teal democracy. If he succeeds, the contest is not
ended; it will be renewed till his policy and his
principles FRUSTRATED.
The fruit is now ripe-the power to defeat him
is now with the opposition if they know how to call
II forth and to use it, The elements exist in great
abundance throughout the country, sufficient TO
oyerwhelm the present acknowledgements it only
requires a consciousness of the fact to effect the
object. This country will never be free from fnan
cial disorder till national bank be established, and
every is rapidly tending TO produce this result
in the public mind. An anti commercial anti-bank.
ing, anti social anti-chrstian government
be permanent in this land The commercial interest
alone, always held, and still holds, the balance OF
mower between the two parties, if they choose; it
only require strong, vigorous and combined effort,
and Mr. Van Buren,, in lSll, will be quietly reposing
Nth hi. cabbaycs at Kinder hook.