The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-10-16
Communications.
SPECIE CIRCULAR REVIEWED.

Having that neither the law Of 1916, nor that
of 1890 give the Secretary the right to demand gold
and silver for the public lands in exclusion of the
notes Of speciepayng banks, payable and paid, &c.
let US look to the objects the Secretary had in view in
issuing the Specie Circular And here we are relieved
from any sort Of difficulty for the reasons are openly
expressed in the Circular itself Not that all the rea
sons avowsd for, in the opinion of some, other
ends we're designed to be encompassed. Without in
tending in our humble sbor, to derogate in the slight
est degree, from that well earned and splendid fame
which attaches to General Jackson as a soldier and
patriot we may nevertheless dispassonaely say that
In his essential temper he ardent and overbearing
That when his angry passions, from whatever cause
once fairly enkindled, they famed vengeance on
his adversary whether in the field or out Of it In the
imprisoned language Of Othello, his resentments
when fully raised never ebbed" until "a wide and
capable revenge" had removed swallowed the offend
ing object up. With bellgerent feelings excited to
the highest and most Incorporating pitch, he waged
unceasing upon the Bank Of the United States
Although that institution from the impetuosity and
perseverance of his attack, was shorn of her main
strength and driven into the limits Of State
Charter still he seemed to fear she might again revive
and be day renvested with her former powers In
order to extinguish such hope, and to make sure
work. have connected he issued the Specie Cir
GUAR unmindful Of the effects il would produce not
his old adversary Alone, but also upon all similar
institutions not excepting the favorte deposite banks
themselves. We not qualified as to time ability
to discuss this point further and have merely thrown
~ oth.x ra.J .ra "
again return to our Immediate subject
We think it may be asserted as well sustained
truth that from the time the office of Secretary Of the
Treasury created, up to 1888 at least, the main
object Of Secretaries has been confined to simple
collection of the revenue, as by law prescribed and
whenever any discretion has been exercised, it was
merely such discretion as appeared necessary to-
wards that single end A discrimination was some
times made between the notes Of specie-paying
bank and another already said, but never, when
the notes at par with gold and silver, where Of
fered. The report of Mr. Secretary Dallas to Con-
gess in 1876 clearly up that time aitests this and
men, either in out of Office may do well to look at
that document with attention. But at a later day we
are to approach new era in the government an era
at which the powers and duties of the Secretary "by
direction of the President" are to take higher and
wider range
The 18th of July, 1886, is to be memorized as a
time, when the collection of the revenues is more
to be regarded as an end, but an instrument with
which to reach other ends-and an instrument too
of tremendous power and effect. Legislative powers
are to be enlisted in the service the sphere Of the
Executive to be enlarged and the Constitution
itself trespassed upon in the attempt Let us recu
again to the Circular itself.
The principal object Of the President 1.-THE Secrc
tary was merely passivel in adopting this measure
being TO repress alleged frauds and to withhold any
countenance facilities in the powers of the govern
ment from the monopoly of the public lands in the
hands of spectators and capitalists, to the injury o.
the actual settlers in the States and of emgrants
in search of new homes, as well as to discourage the
ruinous extension of bank issues and bank credits by
which those results generally supposed to be pro-
NOTED, your utmost vigilance required and relied on
carry this order into complete execution In sup
port Of this ORDER neither the law of 1876 nor that
1920 the general law defining and regulating the
duties (see that law in our first number of the Sc
cretary is referred to- The Secretary is in nowse
about to execute duty prescribed by his great and
erclusipc director, [see first numherl Congress
and to whom he should report accordingly at the pro-
per time the in which that duty has been per-
formed but he is now about to obey master
the President-and he is by his directions" to as
sumo four great powers never assumed by an Execu-
tive before and it is hoped never will be again The
four powers are these lst To legsate generally on
the subject of frauds in the purchasing Of public lands
Cd To make distinction between the citizens of diff
ferent States. 3d. To make discrimination between
different branches of the revenue And 9TH. To
regulate the currency Here we have vast and ex-
tended front Of powers and if really in the hands Of
any one man, Of what account any other powers
We are informed by the honorable Senator from
New Jersey (Mr Southland, in his able and elaborate
speech touching subject that lone Senator Mr..
Buchanan,) has said, that by strange accident,
Congress had lost all control in regard the curren-
cy" This awful truth, it seems, not unknown 10
some administration men, well as to others; and
indeed plain enough to every candid person but
whether or not it the effect Of some strange
cident or of settled design is question before
the people, and yet investigation. So far the
Circular is concerned we discover from its very face,
that legislative powers openly assumed frauds in
the sales of the public lands to be correcteds not
that Legislature function2 The currency is to be
regulated; who has power to do that Congress
All will admit that Congress have once had, the
power to legisate these matters and if So their
power is by the terms Of the Constitution, con-
current with that of the President but erclusipe in
themselves. The words of the Constitution cannot be
mjs, nd stood All leuisIative povere hcren mr., nj
ed shall be vested in Congress of the United States
which shall consist of Senate and House of Repre-
sentatives" Not a part Of the legislative power in
Congress and part in the Executive, but all in Con
gress. Who doubts whether these terms of the Con
sttution both in spirit and letter. have been entrench
ed upon hv the Snecie Circnlar