Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1840-08-13

dard; and like the original language of the
Bible in matters of religion, they are the
text book of every reformer.
Nothing could more efectually prove
the purity ofthe principles then annOucod
than the progress they have since made
in the minds of men. While even the
name of the proud and powerful party
which opposed them, has come 10 be con-
sidered a term Of reproach, if not Of ig-
nomy and insult, the principles Of the
Kentucky resolutions, in profession il
not in fact, now enter into the creed OF
every political sect, aud the once derided
name borne by their apostles and advo-
Gates, is considered an essential passport
to popularity and success. Nay, more,
the people almost with one voice have
recently recognised and concentrated the
principles Of those resolutions by an act
as impressive and emphatic as it is posi-
Bile fora nation 10 perform. Since your
letter has been laying before me waiting
for reply, it has become my agreeblo
duty to confirm the fiat Of the nation set
tling for ever the unconstitutonality of
the sedition laws of 1898, by approving
an act for the relief of the heirs of Mat
thew Lyon, refunding to them a fine COL
lected ofther ancestor, under the law in
question. Party prejudice, judicial au-
thorty, dread of the precedent, respect
for that which has assumed the form of
law for forty years, have successfully re-
sisted this act of justice; but at length
all are swept away by the irresistible cur
rent of public opinion, and the sedition
act has been irreversibly decided 10 be
unconstitutional by tribunal higher than
the courts ofjustice-The sovereign peo.
pie Of the United States. The patriarchs
of Kentucky and Vargnia, the men who
in that day, midst obloquy and insult, vo-
ted for or sustained the Kentucky and
Virginia resolutions of 1899, cannot but
rejoice with ajoy unspeakable in witness.
ing the 6nal triumph of the pure principles
10 which they then announced their allie
glance. They and their descendants
have right to glory in seeing those
principles recognized, even at this late
day, by the acclamutions ola nation, and
one of the tyranical acts against which
they protested virtually expunged from
the records of the country. While TO
aged patriots it is subject of congratula-
ton and Joy, it teaches the young that
efforts at reform in the Government of
their country ought never TO be consider
ed hopeless, as long as there is any thing
to improve, and that, If the fathers
do Eot enjoy tho fruits of their exertiOns
in the cause of Democratic principles,
they are certain to fall in blessings upon
the children.
/ am most happy to inform you, gen.
tlemen, that | have this day signed the
bill for the establishment OF al Indepen-
dent Treasury, measure of which you
speak in decided commentator. By this
measure, the management Of an important
branch -four national concerns after a
departure of nearly halfa century, will be
brought back TO the letter, as we'll as tho
obvious spirit and intention of the Consti-
tuition. The system now superseded
was in fact one of those early measures
devised by the friends and advocates of
privileged orders for the purpose of pre-.
venting the Government from its puie
principles and legitimate objects, vesting
all power in the hands of few, and ena
bling them to profit at the expense of the
many. need not inform you, gentlemen.
that the effect Of depositing the public
money in banks, was TO lend it 10 those
institutions, generally without interest, to
be used as a part of their capital, and
that they lent it utupon interest TO their
customers, thereby largely increasing the
profits of the stockholders. Thus the
few we're enabled to enrich themselves
by using the money which belonged TO
the many, aud the public funds were in
fact drawn from the Treasury, without an
appropriation BY Congress-, in clear vio-
latiol of the spirit of constitutional
prohibition,
The manner in which this abuse crept
into the Government and fastened itself
upon the country with the acquiesence of
the whole people, is an impressive lesson,
teaching the necessity Of perpetual vig-
lance and energy in detecting and re-
sisting the first encroachments, however
seemingly triAing, upon the principles OF
our Government. From the dsposite Of
the public money in banks, it did not ne
cessariIy follow that the banks should use
it. its use was never, until lately, and
then only to limited extent, directly au-
tuhorized by any act otthe Government.
But as the banks were in the habit ofusing
deposites, they silently treated those o.
4 tie Government like those of private cit
/ liens, and the Government as silently ac
Eqniesced in the practice, AS for many
4 wars the revenues Of the Government
WIRE moderate, and the surplus was wan
ttd to pay the principal and interest .
tie public debt, the amount loaned on
III the banks was comparatively small
aad the profits Of the stockholders les
considerable. ButiR the progress Of th'