The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-10-28

UREA, October 2lst, l84l
THE EXCHEQUER OF THE u STATES.
TO THE EDITOR OF THE MADsoNIAN:
OCTOBER 18th, ls41
! Sin:
! HAVING presented scheme of FINANCE and Cur
RENcy, the question is, hop shall establish and de-
Jend III A question truly appalling, when reflect
upon the difficulty of teaching any NEW TRUTH, and
the fate that is sure, in the outset to await its advo
cates,-
"All shun, none aid you, and few understand !"
| am well aware that Isha have to encounter
host of adversaries Their name is Legion and
their cognomen, 'hIhe old Federal United States
Bank Party" the arch enemy of the Constitution
who, in spite of its prohibition, has reigned by i'm
piicaton" forty years out Of the fifty Of its existence
A party, whose present distinguished leaders
once the most inyeterate and deadly foes of this
chartered Libertine" hut its most ardent 'and
"uncompromisng" champions ! shall not stop to
inquire into the cause of their conversion, though
may strive to stop the propagation of their faith.
well know, that the contest will be desperate, and
doubtful; that the victory only to my coun-
TRIP; that can share of its "spoiIs" but in
mon with my adyersaies, except the certan,inis
guadia,
The rapture of the strife, -
of which defeat cannot despoil me. Finally, all
that have to animate in the coming con-
fct, is the consciousness of just cause.
Thrice is he armed, that hathshis quarrel just"
But there can be no victory without a battle.
:
cting interests and unprihcipled ambition, why may
we not as well enlist in this now waged by the BANK
PARTY for half century, and strive to end it And
what time ever more proptous than the present to
prepare for battle against this great arch enemy Of
the Constitution, when he has just suffered t,oo sig
nal defeats from the two-edged sword Of the Cons
tuition welded by the hand of the Executive, yet still
remains rebellous under arms2
Nor these the only defeats, or the most signal
The wailings of defeat and groans Of despair have
been heard from Maine to Georgia; and the signal
of retreat has been sounded the shores of the Ches
apeake, on The banks Of the Susquehannah, and the
Ohio Yet still the "Grand Army the Bank, and
the great army of the People remain encamped in
view, preparing for future conflicts in the great West
the Empire" and the Bay States
The hum of either army Silly sounds,
That the fixed sentnels almost receive
The secret hispers of each others watch;
Fire answers fire; and through their palmy flames
Ea, h battle sees the others umberd face"
Already we begin to witness movements along the
enemys lines. long array Of mercenaries, cohort
by cohort and phaanx after phalanx, are filing be-
fore
1--WE see them on their winding way"
preparing for desperate confic, in the North
"What do they in the North,
When they should serve their sovereign in the West}
Their ralying word is rictory death" To some,
death" might be more welcome than victory-as in
this event, the 'penitentary might reclaim its ugi
tives." But promise them victory without
a battle. The defenders Of the Constitution, like
the Marshals of France nerer SURRENDER"
All that remains for us, ON the present occasion, is
to note in due order the various divisions of the Grand
Army, that will have to be encounteied-a mighty
host of Interests and Cques, and Cabals, armed in
the triple panoply of sefshness hatred and despair
l. First in the long and molly array, with serried
ranks but diminished numbers, stand the old Grena-
diers of the NATIONAL BANKn-the Forlorn- Hope
of Monopoly mounting the old Federal Cockade in
token of grief for the unmey exit of the Monster
their lord and master, who, like
Bloody Tybat, yet but green in earth, dies foster
ing in his shroud !"
H. Next the nre Clay Wing Caucus phalanx-
daring and desperate; with the motto craven on their
fiscal swords mot from the Koran but the "Coffee-
house,)
Head him, diep
Ill Then follow the mine hundred and one State
Banks with their nine hundred and one thousand
presidents directors, borrowers brokers' spet uators
and impoverished stockholders, -deuded widows, and
orphans, and do,ards, cinging with despair to the
wreck of their fortunes
Nv. Next, the entire Clay Wing party, out Of Con
gress the devou political worshppes of ''ihe BANK"
and BlDpLE-Mammon, and his mounebank-with |
protested Postnote bound about their brows for a
phyacery, inserted neck or nothingr
" lastly, the whole entire mass of the public Gre
dtoIs and unsalared stipendaries and cai
mants-in the receipt of the whole annual revenues
of the Government, to the amount of from twenty.
five to thirty millions.
All these fve-fod interests must he encountered |
and conquered, before there can be any reasonable
hope Of establishing the ExcHrouEa, +" or any other
scheme for Treasury Agency or Commercial Cur
rency. "A single arm single voice would be pow
eress in contest with these combined interests
Even the Executive authority would be in vain ex-
ered, unless supported by the patriotism Of the PEG.
pie. All these interests resolved into single
despotc power, the moNEp POWER Any victory
il can enure only the benefit of the People and
can be won only by the patriotism of the People.
BAY STATE. !