The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-07-07

the several banks Of this District expired on the
4th Of July For several days previous, these
institutions, six in number, were the topics OF
discussion in the House Of Representatives, and
after every effort to extend their charters in the
usual manner bill was finally passed the
House on the Sd inst. by majority of 40, ex-
tending them two years, on certain conditions
sufficiently restrictive That bill was sent to
the Senate, where the very essence of loco foco
despotsm is personifed, and the movement OF
the popular branch of Congress, not meeting the
appreciation of the serene loco foco highnesses
of the aristocratic branch, Mr.. Allen, of Ohio
objected to taking up the subject, unless the
Senate would take the bill he proposed TO offer
Was there ever a more insolent piece of dicta
ton Lest the banks should all go down by the
limitation Of their own charters the morrow,
the Senate were forced TO adopt the bill, and Of
course The House were obliged to suffer il TO be
crammed down their throats, or pass no bill at
all. This was the only alternative which loco
foco despotism had left. Accordingly, late on
FRIDAY afternoon, the bill was perfected by Con
gress, and sent TO the President, who was, no
doubt delighted TO take his pen in hand TO strike
down at one fell swoop, every bank in the Dis
trict Of Columbia.
The bill continues the charters of the Banks
for the purpose Of Winding mp only This is the
grand finale Of the aim and object of Loco Foco
ism and the agrarians, infidels and federalists,
that pursue their midnight orgies in the shades
of Tainmany Hall, and all the fends incarnate
that gloat over human misfortune and riot in hui
man distress, may now sing hozannas TO their
.'whiskered y chief, and celebrate the triumph
which they have achieved over the DISTINGUISHED
subjects Of the District of Columbia.
Our fellow citizens throughout the Union may
Judge Of the effect of this measure upon the
people of this District and the surrounding
counties, when we inform them that the loans
and discounts of the six banks was last year
$50, 299, and their circulation about one mil
lion of dollars, and all of them well managed
and in good condition as any banks South of
the specie paying States. Indeed, two Of the
banks of the city at least, are specie paying
banks. They are not only Indispensable to the
very considerable commercial business and
manufacturing interests of the District, but for
three years past have offered every facility and
accommodation to the Government and in many
instances saved its credit from dishonor.-
Here are 40 900 people as worthy of the " life,
liberty and the pursuit of happiness" as their
more fortunate oppressors and more respectable
than many of them, peaceably doing business
only as it is elsewhere done, deeply interested
many Of them in the products of the surround
ing country, with hearts and understandings,
and hopes and expectations, similar to other men,
struck down in mid career by one pen stroke of
one Insignificant tyrant, mean in every cha
racterstic of soul and body as the meanest
among them!
Is there a sensible constituency elsewhere in
the Union whose representative dare undertake
such measures in regard to the institutions they
have chosen to erect2 Is there State prepared
to tolerate such conduct in its own Legislature
No Nor has there ever been in the whole
course of American legislation law more ty-
rannica, more wantonly outrageous and unjust.
We would ask the people of the States how they
would fancy law forcing them TO pay their
debts F.? We would like to ask some Of the very
members of Congress who urged this law upon
US how they would like to have their privileges
stripped from them, and they also forced to pay
what they owe forthwith to the citizens Of the
District they delight to Cypress Indeed, we
know that if some of the most conspicuous in
the enactment of this law had no paltry cloak of
privilege to cover them, they would either be
forced to pay some of their honest debts due
here where the money is now wanted or be
lodged in the place prepared for nsolvent debtors
But there is another aspect this kind of legis-
laton assumes 1t goes hand in hand with the |
power claimed by many of abolishing slavery in |
this District. If Congress can legislate thus |
over the money property of this people, they can
legislae over every other kind of property in |
GLIDING sidres. If ii can dictate to US how we |
shall do our buslness-if it can deprive US of
every political immunity, and erect or destroy at
pleasure, privileges enjoyed by the citizens Of
the States, II can, with equal justice and pro |
prety demolish the institution of slarery. The |
right to abolish that institution runs pari passu. |
with the right exercised in this case, and if the |
subjects of the District presume hereafter TO
speak the language of independence in relation |
TO the despotc conduct Of Loco foco federalism
they may next expect 10 see slavery abolished |
and Mr.. Van Buren, riding in triumph over the
ruins Of their desolate cities, Boosting with At |
tia, the ravager of Italy, that no grass grows
where his horse has trod
THE DISTRICT BANKS
In the Senate yesterday, the Bill which passed the
House for the continuance of the charters of the
Banks Of The District far hno Years came up for that