Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1840-04-04

I n
islature-of the Senate House of Representa-
tves, for example, Unexpectedly deciding on
| Bills sent from one Hoiss'to the other. And as a
mere difference Of opinion as to the e1pediency Of
the measure proposed has been held to justify
one House in rejecting q Bill passed by the other
so like difference of opinion, under this new read
the institution has been perverted, and is now l
tool Of political faction, who would be VIII
= to sacrifice the welfare oil the country 10 DID,
nee their parlizan purposes ,,,. a
passed ny the two nouses tviGabIe Qtder' ~
which he may not entertain Che sdlLe views that
thev do.
To show how utterly inconsistent this new view
of the application of the Presidential veto, is with
the old republican doctrines, need only refer you
to Mr.. JeterSons official opinion presented to Ger
Washington on the constitutionality of the Bank
charter in 1871, in which he says the veto was in
tended by the Constitution a shield to protect
the constitutional rights Of the States and Of the
coordinate departments Of the government from The
slrasions Of The Legislature, and even in such cases.
it ought not to be interposed, unless the question
l should appear to the mind Of the President to be
''ceGr" one, and free from all reasonable doubt. If
however, under the novel theory broached by the
present Chief Magistrate, this high and delicate
power, from being GO the extreme medicine is to
become the daily food Of the Constitutisn," and
may be egitimatey used to arrest an ordinary act
Of legislation, upon mere difference Of opinion as
|
fundamental revolution in our Republican system,
imparting to the Executive power an irresistible
energy, and enabling the President in practice,
habitually to set at naugLt the decisions of the
Legislative department; for, with the great intiu-
ence his station confers he can rarely if ever fail
to command the support Of one third Of one or the
other Of the two Houses Of Congress, which would
he sufficient to sustain his negative, and thus put it
in his power, BY his single fiat, to control all the
rest of both bodies Of the Legislature.
In relation to the dangerous schemes Of radical
innovation heretofore recommended and encour-
r aged by the President the subject Of the cur.
rency and so deeply affecting those daily interests
OF life which "come home to the business and
bosoms OF men, the late message, instead of dis
closing any salutary modification of his former
f opinions, reTTUduces those opinions, in a more
mixed unequvocal and alarming form than they
have ever, heretofore been presented 1t is evident
whatever may have been said by his parzans to
the contrary, that he oms at total overthrow and
destruction Of the existing monetary system Of the
e country, and not merely at safe and prudent re.
form of the errors and abuses which may have at
tended it. After speaking Of certain gross irregu-
larines in the course OF business lately pursued BY
the Pennsylvania Bank Of the United States and
one or two other Banks, irregularities for which
the system in general, cannot with justice be held
ansverable, for they consisted in an acknUT ged
abandonment of the fundamental principles and
designs of Banking, and deviation, as the Presi-
% dent himself says, :" from the former course OF
;, business in this country,D he proceeds to exhibit
y highly wrought picture Of the evils and calamites
which ensued; and then pronounces his " dsLsndd
e est CGrthIgo,' against the whole system, in the
n sweeping declaration that, 'these consequences are
A Inherent in the present systcn-they are not infu
enced by the Banks being large or small, created BY
u National or State Governments they are the re-
suits Of the irresistible laws Of trade ami credit
y He follows up this declaration with much more
e about the evils Of "a credit CURRENCY" and the in.
l. urieS inflicted by the resistless laws Of crea
- currency and credit trade" and finally after earn.
J., estiy urging the policy ami duty Of the General
r Government to collect its dues and paw its debts
in gold and silver, he says, very significantly, that
its example IN SO doing, would serve as rally
ing point By which lrl0'. c0.ntry NAV be
: brought back to that safe and hUnored Standard
Now this certainly sounds very much like all oXcu.
: sive hard money currency. II is true that the
l. President III another part Of his message SAYS thai
/ - in country SO commercial as ours, banks in
{ some form, will probably exist" but it is evident
from what he says, III the connection that he
means to exclude banks Of circulation, as now ey.
listing, and if we have banks at ALL they are to be
Z banks of depoSite, confined in their operations to
their specie basis, something of that Sort whic!
would virtually operate, 10 all intents and PURPOSES
7 as an exclusive hard money currency.
70 My purpose now IS, not to discuss these eXlraor.
binary opinions and recommendations Of the Presi-
u dent, or to point out the ruinous consequences
which so total revolution in the monetary system
of the country would bring with it to syerv class
Of society. creditors and sa!aricd officers, hat
before remarked, alone excepted. This has been
done with far more ability than | can pretend TO, Uv
: one Of the abcSt and most distinguished writer's yn
political economy in our country, land Tirgiuan,
! too, am proud TO say who, though removed from
e all connection with party politics, has been s.
! startled by the dangerous taacies Of the Presi-
dents Message on subjects to which he has devoted
the chief studies Of his life, that he has felt il
; duty from which no good citizen is exempt, to aid
u in exposing them. You will find his views, with
D out his name, however which his retired and IN
, ambitious course OF life has doubtless caused him
Il 10 wish to be withheld from the public, but which,
if known, could not fail draw general attention
in letter recently addressed to representative in
Congress, and published in the Madisonian Of the
!, 18th and 3ULh o! last month. | commend il to your
Il attentive PeruSal, and most arLenly wish that i.
could be in the hands Of every reading and reflect.
Il ing man in the country.
, will not touch upon the topics which he mas 50
ably treated; but cannot furoear TO notice the eX-
traordinary and unprecedented tone of dictatiou
and denunciation which the President, in the fiery
zeal with which he is animated for the propagation
of his tavurIte schemes, has permitted himself Il
assume in his message towards the sovereign State,
It Of the Union lie INDUCES in the most veAemen,
g anlmadversions on their systems of State policy
l. lie lnrUkas ruthless spirit Of exteTminaton
Il against their banking institutions, "by relOSl
d mans he says the provisions of the Constitution
o authorizing Congress " to coin money and regulate
d The value thereof" and prohibiting the STATES Il
e coin money, emit bills of credit" &c, have been
IS "practtcGlly sgbrerted" He calls the upon States
: from whose legislation" he says, "these evils
o have sprung" to "appy the remedy" and espe.
J. cialy 10 enforce "an iHRGribe execution of Lei,
Lou ~ ar Is ltt..l I,r,