The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-10-06
Communications.
FOR THE MApIsoNIAN.
THE SPECIE CIRCULAR REVIEWED.

Mn. EDToR The chief portion of the materials
composing the following series of essays touching the
late Specie Circular" collected in the summer
Of 1887 only few months after the present Execu-
tive came into office The Circular then in full
force-and whether for veal or for woe, admitted
by all persons of all parties to be measure Of vital
and universal concern to the American people AL
though this high handed and unexampled measure,
(for such it will be proved to be- is regarded
done away, and for that only, no longer emit
tied any serious consideration yet must for one,
contend and think with reason, that there is
corded trace of the policy of the late and present adj
mnisraon which affords any fairer criterion by which
to Judge of the true merits of either. The measure
itself originated with General Jackson in iS36-and
in despite of petition and rcmonstrance continued
by Mr. Van Buren, when he came into power 1t
a very favore and cherished policy of both Presi-
dents and now stands boldly out for examination and
review TO all whom il may might concern. Al
though it was only part and but small part of the
dongs or rather miSdoingS, Of the party in
power, yet may it be regarded quite sufficient to
satisfy any reasonable man, TINT change of men
(argument and remonstrance being Of no avaiD is the
only alternative which offer any solid hope for the
prosperity of the undivided future If the Specie
Circular unlawful and disastrous at the time it
in operation, the ilegaity the mischief cannot
be transmitted sanctifed by time. Nor does the
matter present itself in less impressive light when it
is borne in mind that it not casual hasty pro-
ceeding demanded by necessity the exigency of the
OCCASION but on the contrary was simply precon-
certed and settled design to be relinquished,
,aI h, ,f strn thc
monstrances of reason, or of law. When !, Mr.
Editor shall have finished this feeble attempt to set the
subject out in its light and bearings yourself and
readers then better judge hew far it lays just
claim to the sober second thought of every well
wisher to his country and of its envable institutions
And furthermore may determine how far these
weighty matters should, in the coming contest, nAu-
ence the public mind in its exercise of the highest
functions pertaining to free and sovereign people.
AT the time the Specie Circular came FORTH while
many (from its immediate effects on the moneyed com
munity) driven TO and fro and were looking on,
for present shelter from the storm, or, were
wasting their strength in frutess camors against those
who brought il on, there were but too few engaged in
the calm and enlightened investigation of the
Of the mischief and by consequence Of the best
of prevention relief. Never had there been a time
IN this nations history, when the citizen was more
soemny summoned to the resistance of executive
usurpation; forcibly reminded of the neces.
sty of an enlightened acquaintance with the first prn-
cipes of government, by which that usurpaton could
be most ef'cctually frustrated or controlled With a
view to contribute his humble share of sstance in
this behalf the author of the following series offers
few candid remarks to readers Of all parties
In tbn Erst
that the specie circular cannot be considered as con-
sstent either with the laws the Constitution of the
United States, and must therefore be pronounced an
tndsfenSi6te assumption Of poteer in The Erecttire
In the second place. it will be attempted show that,
even admitting the power to be in the Executive ethe
by the Constitution by law derived thercrom yet
that in this instance has been unfairly and oppres-
sively applied
In the third place, ii will be shown that the present
incumbent stands at this day chargeable with the
same blame which properly attached TO his " illus
rous predecessor whose foot steps he is pledged
conditlonaliy 10 follow under these three general
propositions, will be arranged the sum and substance
of our remarks
This being an era when the Jealous dcvotecs of
power have raised continued outcry against the cpl
thets of log cabins and hard cider &c sc. and
have demanded with voice loud and long. free and
full discussion Of the first principles of freedom and
OF free government is therefore hoped that their at
tenton al least will not tire in the pclus of the
tiers herein set down. And while they read may il be-
in the language of Lord Bacon not so much to cay
at, or to contradict, as to weigh and consider
While very many Mr. + both wrote and spoke of
this measure at the time it adopted and long after
wards in terms of unmeasured abuse, tending to move
the minds Of men TO public connection and clamor,
with almost the : like tmorous accent and dire yell
a. when by night and accident the fire is spied in
populous cities be il my better task at this day, to
draw from the more tranquil retrospect, those just con
illusions and to learn those solid les for the future