The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-09-09

xrThe Carthagenian," an able Administration
Journal published at Carthage, N r., has an article
on the Bank question: from which take the follow
ing extract:
sit is truth which no intelligent observer will
gainsay that the great Democratic Wing party OF
1910 composed Of discordant elements united for
the purpose Of overthrowing administration whose
policy deemed by all of them at with the best
interests Of their country and for the Testo-
ration Of prosperity to people universally acknow-
lodged to be embarrassed in all their business Tela-
tons. Differing materially to specific measures,
they concurred the belief that the emergency Of
the times demanded the abandonment of every minor
consderation-that every dispute should be waived,
and the combined energies of all devoted to the yindi
dcation Of the national honor and the restoration
of common honesty and integrity to the national
councils. This adjournment of difference, pre-sup-
mise and concession after the Accomplishment Of the
great object Of ALL The history Of the Extra
sion" OF the present Congress, will show how this
implied understanding has been respected.
Among the adjourned questions was that Of the
financial policy Of the government. Many of the
Wings Of 1910, were the friends Of the U. s. Bank
in its old form, who, from their numbers and infu-
ence necessarily the nucleus around which were
rallied the various elements Of opposition. Another
portion of them were inimcal to that institution, but
were nevertheless hostile to Jackson and Van Buren,,
believing the removal Of the public funds TO local
banks to be violation Of law and constitutional obi
CATION nothing less than q command to create undue
banking facilities tending inevitably to confusion IN
the currency and ultimate suspension of specie pay
ments.
A third and more numerous class were the Conser-
vatives who, though friendly TO the employment Of
local banks In the fiscal transactions Of the Govern
ment, under proper restrictions and safeguards, OPP
posed Mr.. Van Buren's war upon them destructive
Of the various interests, unfortunately inerwined
with them, as TO be almost entirely identified with
.neM...-s campaign OF Io4U, the question q
United States Bank being one upon which differ
ence Of opinion existed among the combined oppos-
ton, was generally deferred; and did not, in fact
come distinctly before the people for adudicalion.-
Greater Difference for their wishes would have been
shown, had Congress deferred its settlement till the
regular session. but Immediately after the election
liberation, that body passed bank bill, when il was
morally impossible for them to hare ascertained the
the wishes of their constituency.
Of the three sections Of the Wing party, which We
have enumerated, the first may be presumed to favor
Mr.. Clays bill which has 30 recently been met by
the President veto; but have yet learn that the
others have abandoned their objections to the odous
peculiarties Of the old bank which unfortunately
incorporated in that bill We have yet TO learn that
they have given Mr. Clay a cognorif and recognized
him as the legitimate exponent Of their views upon
the Bank question IL it believed that, in uniting
with him in the overthrow Of corrupt and profga
dynasty, they sold their long cherished principles and
subscribed to his peculiar dogmasl Was Mr.. Clay
his bank bill clearly obnoxious to their repeated decla
ratons Of opinion
When the determination TO discuss the Bank ques-
ton at the extra session was evinced plan Of Fis
cal Agent submitted by the Secretary of the Trea
sury, embodying all Of concession, which could have
been made to Mr.. CIay's peculiar views, without the
sacrifice ofimmutabe principle; but that rejected
with marked manifestations Of contempt The at
tenp of Mr. Riyes to to the States the right
decide upon the expedency Of admitting branches of
the Bank within their limits, met in the sp
rit; and by extraordinary perseverance, we will not
say oyerbearng dictation, bill was forced upon the
President, liable to the objections which he in
common with multitudes of his supporters had repeat
eddy urged against the bank; in the overthrow Of
which he had taken par-embracing, il is true, APP
pearance Of compromise, shallow pretence, most
Incorporating compromise, and which in reality
conceded nothing. No choice was left him. other than
the iI'erposon of his constitutional preIogative
an act at war with his repeated and with
the expressed opinion Of large portion Of the Wing
party, and those OF numerous opposition together
constituting large majority Of the whole people,
he has taken the alternative best calculated TO vind
cate his consistency, and protect his name from the
contempt il would have nerted, had he chosen diae
renty.