The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1840-06-06

possessing the capacity TO resist, it be-.
comes a.matter worthy the deepest con-
sideration. It is admitted, that Van n'Buren
possesses principles for which, as State
Rights men, we have contended. He
may be- insincere in his professions. But
his whole party in Congress, in their ad-
dress two years ago, based themselves on
those principles; and it is not TO be sup
posed that they all were insincere. Even
if some of them were so, their triumph
must be the triumph of the principles they
avow, and must ultimately bring the 60
vernmen. to them, and their defeat must
be the defeat Of those principles. After
an ardent struggle Of many years con-
tinuanec, we find ourselves free from a
public debt-from national bank-in a
fair way to be rid of corrupt banking
system-free from the tariff almost entire
ly, and from internal improvement by
Congress, in a great degree from the
surplus revenue, the source Of incalcula-
BILE mischief-and in short, from almost
the whole train of federal and consolida-
ted legislation. The real issue, in our
opinion, is, whether the work shall be
completed, and the government. restored
to its original simplicity and purity, or
whether we shall 60 back, and commenI
cling with national bank, run the same
dangerous round again, by The adoption
of that and other measures of policy, not
sanctioned by the constitution, and (raught
with oppression and ruin to at least one
portion of the confederacy. Shall we
abandon our principles, because our long
support Of them have given them such
ascendancy that the administration, either
from conviction or policy, has been COM
PEELED to adopt them! Will it be less con-
sistent 10 give up cur opposition 10 men,
when we find them approximating our doc
trines, than 10 fall into the ranks Of those
who support protective tariff, system
Of national improvements, and all the
train of implied powers which stand on
the same footing! The tariffites, the bank
men, the consolidationists, and abolition
lists. are almost universally, so far as we
can observe, rallied on the side OF Har-
rison. Let his own opinions be. what they
may, (and recently they are not to be OBJ
tained,) he must, if elected, become a
mere instrument in the hands Of those,
his supporters. Such are our views Of
thematlcr. For Van Buren or Harrison,
Individually, we care nothing.
The delusion Of aitributing the present
cmbarrassmcnts Of the country to the sub
treasury, whicKhas never been in existence,
we do not think can require refutation
with any who reflect. If it had been in
operation, thee years ago, we verify be-
lieve it would have stopped the heavy loans
contracted abroad, and either have pre-.
vented the suspension of the banks, or
greatly abated the mischief that has re-
suited. The pecuniary embarrassment is
in great measure confined 10 America
and England, which have both embarked
deeply in the banking system; and 10 this
the distress is 10 be mainly attributed. In
England, not one Of the causes TO which
the Wings attribute our disastcrs-tllc re-
lnoval of the depnsites-thc sub-trcasury
-or the tampcring with the currency,
exists, or has existed. On the contrary,
that country has had the full benefit of
what the Wings regard as perfect cure
Of all our ilIs-a great national bank and
regulator. The Chamber of. Commerce
at Manchester, in a report published in
December last, has pointed out, in a clear
and conclusive manner, the cause Of Pc
cuniary embarrassments there, and shown
that they may all be traced 10 the cxpan-
Sims and contractions Of the Bank Of Eng
land. We shall endeavor to fird room
for some extracts from the report.
"Bank paper" says a distinguished
statesman, "is 10 the world Of business,
what brandy or whiskey is to the physi-.
cal constitutional high stimulant. Its
expansion is an over-draught-a debauch,
sure 10 be followed by corresponding
contraction, which is but the depression
after the drunken froIic. We have been
in the former, and now in The latter con-
dition; and like the drunkard, we thirst to
return to the bottle, which the Wings tell
US is The only remedy
If we should pursue this subject, we
hope to be able to do it in spirit Of cam
dor and fairness, rs We cannot regard our
selves as the partizan Of either candidate,
though we have fully made up our mind
as to the course which our doctrines Of
State Riuhfs and ctrirt consfrucfion re.