The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-08-25


eonsirain no longer to support him
1--WE believe thai much OF veal OF wo 70 our free
institutions depends upon the issue Of the coming con-
test and entreat you 10 discard a. Tar as possible
The blind bipory ofpary zeal break the shackles Of
mere party names and TO hear Us without prejudice
We desire TO use no harsh epthets no angry denun-
Citations but to address ourselves TO your sober reason
Having supported Mr.. Van Buren we naturally
wished 10 approve the of his Administration,
and looked upon them with partial eye; but looking
Al them through this friendly medium. We cons len
tiously believe that they have been Injurious TO the
best interests Of country and that those interests
require that they should be placed IN the keeping oil
other hands"
The following paragraphs, taken from the body Of
the same address, will come home to the business and
bosoms OF many OF our readers:
In connection with this sub treasury we call your
attention to the bankrupt bill, recommended BY MIR.
Van Buren, in his message 10 the Special Session OF
Congress in September 1887, To be applied exclusive
" TO banks and bankers. In this message MIR. Van
Buren, says In the time, il is duty 10 pro-
vide all the remedies against deprecated paper money
which the Constitution enables US TO afford The
Treasury Department, several former occasions,
has suggested the propriety and Importance of uni
form law concerning bankruptcies corporations and
other bankers Through the instrumentaliiy Of such
law, sautary check may doubtless be imposed on
the issues of paper money, and an efectual remedy
given 10 the citizen in way at equal in all parts
OF the Union, and fuzzy authorized by the Constitu-
ton This Is subject which has received too h'tie
attention from people who ought to be ever wakefui
and Jealous LII The Recommendation Of the President
had been carried into effect, and the law passed, II
would haze placed in the hands Of those wto admins
ter the General Government an engine of most tire
mendous power. Fellow citizens, many of you are
not familiar with the operations of bankrupt law
and We will state succintly what would be its pnnci
pal effects ii applied to bank and bankers Nus
ratc il clearly, we viii suppose that tne law nad
been passed when recommended by MIR. Van Buren,
When the banks suspended specie payments, the door
of every such bank would have been closed by Com
| mssioners of Bankruptcy appointed by the Generai
Government their books notes and effects OF every
kind would have been seized by the Commissioners
all the debts due to the banks collected by them IN
their own notes, gold and silver and when II was
necessary bring suits they would have been brought
in the Federal Courts, where the expenses OF PLAIN
suit exclusive of the Marshals commission, Will ave-
rage about $50 out of the proceeds they would have
paid of the debts due from the banks, and divided the
residue amongst the stockholders Picture to your
selves the desolating effects of such law-imaglna-
ton is scarcely adequate TO the task. The Marshall
he District Aftorneg and The Clerks troud hare had
d glorious harrest. And If the State legislatures,
Virginia, for example, had desired, as she assurediy
would have done TO extend the charters of her own
State banks she could not hare done Il for will
perceive that she could neither repeal
dify an act Of Congress. Your own State banks
would thus have been wound up by officers of the
Federal Government, in despite of your wishes de-
sires, and we should have this good old Com
her suffering people and that relief TO be asked from
members of Congress elected from Michigan and
Louisiana from Maine and Missouri, from persons
not chosen by YOU and unacquainted with your wants
or your wishes. And can it be possible that the re-
election of Mr.. Van Buren,, who could recommend
such measure, is urged upon the ground that he Is
the friend of the rights OF the States But you will
be surprised to learn, that when this identical
measure proposed by Gov. Branch, in the Senate
OF the United States in 1927 it was warmly and ably
opposed by Mr. Van Buren, himself upon the grounds
thst it unconstitutional and inexpcdient. You
will ask why this sudden change He uas then seek
ing porer--HoIr he possesses IL The proposition
seemed 40 monstrous that a voice of the Pre-
sident and his Secretary Of the Treasury, heard
in favor Of ii, and we had fond!y hoped that
buried beneath the peoples frowns to rise again
But, during the present session of Congress It was
again brought forward in the Senate Of the United
States and the power the President and of party
had time to operate, received the support Of
Messrs. Wright, Benton Wall, Walker, Hubbard,
q ID genus twenty in all, the fast unwavering
friends Of the President and would have been carried
but for the opposition of some of the Southern Adm-
nistraton Senators who not yet prepared for the
step Re-clect Martin Van Buren,, and it will be
fastened upon is the sub-treasury.
g TO show what is to be understood by the Admit
nisraon when they profess not to be opposed to the
banks but TO be the friends Of wellregulatcd banks;
and 10 show you what would have been the situation
Of Virginia if she had been driven to rely upon the
tender Inercies Of this Administration call your
attention TO the recent oil congress IN
the District banks BY that act, the charter OF every
bank in the District, including the Patriotic Bank
wi ich suspended specie payment is at an end
except for the purpose Of closing their business And
thus the People OF the District virtually without
bank And this law was passed against the known
wishes Of large majority ofthe Peep Of the District
But in these days Of modern republicansn the VIII
Of the people matter Of secondary Importance nc
President had stated IN his message 70 congress tnal
the banks ought TO he held gidy and strictly TO the
terms OF their charerstha the fofeitures should be
enforced and subservent majority, protesting to be
exclusis ely the republicans have thought il proper to
conform to the will Of the President and not to the
will Of the People II the bankrupt law recommended
by the President had been passed, Virginia would
have been in a predcament than the District of
Columbia is her banks would have been closed
against hope her credit impaired and her bust
ness paralyzed But we are unwilling TO believe that
Congress will adjourn without making change
or modification Of this law The Southern Admins
tration members cannot be lost TO Of what
is due to the People Of this District, who denied
the privilege Of choosing their representatives,
and to the first principles of repubcansm, as to per-
sst in law, which Is contrary TO the wishes OF so
large majority Of those upon whom is to operate
From allusion towards the close Of this extract,
the reader will perceive that the Address from which
it is taken written time before the close of
the late session of Congress.
We cannot iorego the satisfaction Of copying
the list Of signatures to this Address, to show
the character of the change which has come
over the spirit Of the powerful county to which
the signers belong whose names are as follow:
P Williams, jr, Joseph Kean, A. S Baldwin, J..
II. Sherrerd, II. M. Brent Nathan Sherer, Andrew
| Nocn, Samuel Urinary Philip Hoover, Philip Mere
di,h, John Anderson, Henry M. Baker, Joseph S.
Jackson James Hove VIM q. Kiger Charles Bar
ley, Lewis M Forsyth, johnson Fur, John F. Wall
Il J Mex Holiday Joseph ID. Secmcr, Isaac Kigcr
David Evans, George kremcr, Jr. Geo. w. Ander
son, Taafcrro Striking, John Carter White Hall ;
John Carter, country WIN. Touchstone, Samuel
Lewis George Parlet Griffin Chiles, Peter Barley
! J. n. Strothcr William CarperSr. Thomas Latham
Henry Cooper, Thomas Sewers, Charles j Brent