The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-05-29

yea III the dues OF Inc government. but, Hefe
slight-sligh t to difficulty arose. The fra
mers of the constitution, no doubt having m Their
minds the deprecated paper of the Revolution, and
wishing to avoid the possibility ola like occur
renee had wisely declared in the constitution that
the s'dues of the Government shsuld be receivable
only in gold and slrer." While he was painfully
bordering upon the best manner TO annul this pro-
vision of the constitution, 10 the most beautiful and
the most oyourite daughter of his own dOlized best
mOdel'-the GENIUS OF CONSTRUCTION, lald
her delicate hand upon his shoulder, looked into
his eyes, smiled her sweetest smile and-the col
lector of the port of Baltimore was notified that the
Secretary of the Treasury had so construed the
constitutions as to make it legal for him to receive
paper in the dues of the Government OF the United
States! The deed was done. The bold and mas
tery genius of the Secretary ofTrea sury, with one
stroke of his Napoleon-like pen, had overthrow
the great barrier which the trainers of the constitu-
ton with the labor of months had cariully and eau
tiously thrown around to protect it from the evils
of deprecated currency and the dangers of a IL
Mon of the Purse and Sword, and opened the door
to all those vast and overwhelming evils which have
since fallen upon the country.
| Enough has now been said to show that the old
Federal party was the father of The National Bank.
It only now remains to be shown, that Jefferson
and his friends were opposed to National Bank
and were in favor of plan similar to that OF the
Independent Treasury fol collecting, keeping, and
disbursing the public money, to establish the po-
sion assumed, that the line of demarkation be-
tween the two great parties of the day has been n
National Bank or an Independent Treasury.
In 1892, Mr.. Jefferson, in a letter TO Washington
speaking of the plan of Establishing National Bank
says
The 10 l2 per cent annual profit paid to the lenders
paper medium taken out of the pockets Of the
peupc, who would have had without interest the coin 1t
bansng that uil the capital employed in paper spec
ulGou is barren and useless, producing like that on me
gaming table acccssOns to iiseand is withdrawn rom
commerce md agriculture where il would have produced
addition the ass, that rourlsed in our citizens hnb-
lis of vice and dlcEtss, instead OF Industry ana morality,
TINT 1t has furnished ccua means Of corruptins such
portion of the Legislature turns the balance between the
honest whichever way Is directed that this squad
ron, deciding the voice of the legislature have manifested
their disposition To get rid of the limitations imposed by
the constitution on the General Observation-Disclosures On
the faith of which the states acccded to that instrument
that the ultimate object Of all this is prepare the way for
change from the present form Of Government to that of
Monarchy, Of which the English constitution is to be the
model
The contents of this letter were communicate to
Col. Hamilton, by Gen Washington, requesting a
rsply, and n statement of his views ON the subject
Col II. replied, but his reply was suppressed by his
friends. 1t is said TO have embodied his monarchi-
cal views in full. II was difference of opinion
on this question that caused the separation of these
,,ro arca, men from rho cabinet of washington.
and I ,vas tho sane oncs,;on an which Mr. JetIcr.
som ,nnoolcJ IN thn nncnle nj tho time he was so
irlumphnnty clectedtO The PRESIDENCY.
Again, Nir Jefferson, III ie'ler 10 Npc'' ""'u',,
in 1903 speaking of Col. llamtons "MAcHINE,"
says.
"From passage in the letter of the prcsiden, of the
Bank observe dea Of establishing branch bank OF
the United states in New oicas lh's INSTITUTION Is QUE
or the most deadly hostility existing against the principles
mud form oil our constitution ihe na" 10 ~ ,, IT,
spnnc" =, his momcst but suppose series Of ntowurd
events should occur sufficient to bring into doubt the com
potency ola republican !" nt ,s na IL h'
nuhI'c nc,ion"es m institution ike tl penetrating
by its branches every part Of the union acs .; h ooanu
u p" sr n ~" ,,v,rnmrr' .n, which Is nder the yns
Sange of any self constituted authorities amy other
thoy than that Of the nation, or It's regular nconnrcs
What an GoS,G ~, eUn "" s " 'n VI If % war;
mc dictate to rs the pcnce we should accept n whdra
its aids Ought then to give further growth to an in
s,'ntion so powerful so hostile Lhn IL Is SO hostile no W.
r," the h"v or Iirector. in every bank prn
cpa or branch and those Of most Of the stockholders
From their opposition to the measure. ana prncIrms
ne so'ernns"i aa TO- e nr ri , he
supno,t Now While we are strong it is the greatest du
we owe to the safety OF constitution, to bring lhi
powerful enemy to perec'snboFd'"a'oh ""derS a"'n"r
80 much Tor Mr Jso OPINION VI Na''ona' , r'"N
That he was me ia,her OF '"e inu' pehu.n. ~.
ury plan the following eAroc' ''o,'' MS o''e' W '
GalIalin, IN iSO3, VIII prove 'e s"!s'
But in order to be able to meet genera, SOm nom%
OF he pahs asnS, vs.; ,ny"r Az 'xnrrrsnrsT wsr o
opn Own SosEY holding our own bank in all the depote
where it Is received and letting the Treasurer give his dra
note for payment at any particular aa p" w cr" n.
"n,c drao or h"nb note. or bi and would give us III
same facilities which we derive from banks"
II is well known, fact that Col Hamilton nev
or conceded his views on the question. On tn
contrary he s,royc TO identify his party with Ma
,;onaI Rank.
! T,. y.,;.., p.,, .,, :, thu d,vs If N,
= ., '"o -''''o'"' lam p'': ut, mo On
JEFFERSON as,u'uu ,o "'V ~. ,he name Democrn,
Pos''on parry unu'' WaIr,, ',.a, understood
ihch, " nav ooe 49, Wa,;.,ai p,nl, Tho
hisuhc''y' 70 W ~ 'a,o'o' .'"' ha "nnn,oj 70
W nave n1eh D' NV .ip we " lp.",ooJ !,
= Na'loha' bank' AL uhe reoPe 80 .;oa =. w.
no one can ueny II, ne r."erays !; !, ""
name-meh,'ea 'hell nahk PlhcpoI ~; w,' ,h ~ I H."
went out 10 Dattle WIN the Peopie. ihno '''o "o'