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

ana hundred % become deposi,aries The public mo-
nav was Immediately put in motion, py transfer war
ants throughout the country. Specie was sent I'M
n, them from the North TO the South, and from the
sonth 10 the North well as up and down the same
,;,srs meeting on the way. In few months, nearly
Inv millions were thus transferred; sum which
,vonld have convulsed any other nation in Chrsten-
IA, from the centre to the borders; and, perhaps,
entirely overthrow their monetary affairs These
...,,,ons. before the end Of that year. caused the
strongest to appeal for quarter Then followed, on
Il. il, of January 1887 the transfer OF nine millions
az dollars to the States and in April following, me
transfer az nine millions more. BY this time, all was
alarm dismay and confusion with the people through
IN Tho eoontry. On the tenth of May, the New
York banks suspended specie payments, and We're fol-
lowed Immediately thereafter by all the banks In the
Union The above contains some OF the proof to show
,ho, the revusion was caused by the agency Of the
Government
The state Of distress and confusion the suspension
caused with the community, seemed insufficient to
satisfy the Administration. II was TO be augmented
by the scheme devised by the Administration immedi-
aleIy after the suspension, TO discredit its own agents
The drafts drawn by the Treasury Department on the
banks that did not pay them in specie though having
received the money their hands in paper were to be
protested and then be received in payment of the
public dues notwithstanding the paper Of those banks
was equally good for the discharge of all debts
specie This is clearly proved, by facts reported to
Congress, and 90 contradict the OF repeated
ton that the banks refused to pay over when called
on the public money in their hands at the time Of the
suspension. AT that time ooh of May) the public
money held by the Drinks amounted to about thirty
two million dollars On the first day of September
following, the amount was reduced, by payments, te
less than nine millions. In December following, Tho
amount had all been paid or ud be paid when call
ed for; but three millions and halfof dollars, which
was subsequently, secured and nearly the whole of i
has since been paid
have deemed it important that this condensed his
tory Of facts should be placed before the country al
this time, that the people may and know the par
which an Administration that is now struggling te
plant itself permanently in power has enacted in pro-
ducinu the evils under which the country is now
groaning and bleeding An Administration which
stops at nothing whatever to gain its ends-an Ad-
mnistraton that has tramplcd the Constitution under
its feetan Administration that seeks to concentrate
in its hands all power, and to establish stand
ing army of 100000 men, to enable it to secure il
thereafter; and, finally an Administration that open
" avows determination annihilate all the banks Of
The country; that proposes and sustains policy and
measures which will inevitably reduce the value Of
every mans property half two thirds and to
cap the climax, its supporters hesitate not to the
sentiment that it would be subject Of the highest
generalization, the wages of tie day aborer
duced to shilling day, and he and his iasy con
sequently compelled to subsis. that miserable pit
lance
Where is the patriot Where the lover Of his coun-
trys freedom? Where the individual who regards his
future liberty and that of his children as well as the
prosperity Of ALL who the great Importance
nay the absolute necessity of change of rulers t,
security to individual property, and prosperity
TO the nation2
When naught but gloom, adversely, and ruin stare
every one in the face would that every American
freeman would repeat the following words of Scott
g Lives there a man with soul so dead
Who ne er to himself hath said
Thi is my own, my native land
Surely hese sentiments, if any thing were wanting
could not fail to every patriot to action in I'll,
righteous cause of rescuing and redeeming the coun
try from the hands Of the spoilers.
r. M. WHITNEY.
PHILADELPHIA, Aug 20, 1910