The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-11-23

which was received with such hostility and unmitiga
Ted censure. Well known causes, daily occurring,
have created an increasing odium against Banks
among thinking men even ofthe Bank party and the
sentiments which this feeling originates have already
done much, and will continue to do more towards sus
tanning Mr. Tyler in the position he has assumed and
with which he has identified himself The minds OF
men are, therefore, prepared to receive with respect
and view with calmness and moderation, such pro-
position as President, whose sagacy they have
proven, by events of recent experience and TO whose
opinions they have learned to yield frankly their own,
may presently bring forward-and whatever be the
plan for a FISCAL Institution which MIR. Tyler may,
on mature elaboration, lay before Congress- il will
assuredy be received by that body with moderation
Of party feeling which the close Of the last session
did not, by any means, promise.
The passage Of the Bankrupt bill has already produ
ced legitimate effect in this community. The debtor
fearing might possibly be repealed has been DESTROYS
of settling under its provisions while the creditor be-
liesing will be confirmed the law ofthe land is
dy TO compromise with his debtor on his own terms
lest the law may award him less than the individual
very large proportion ofbankrupls have already com
promised and freed themselves from the incubus tina,
Is true, refuse all compromise suspectng much pro-
pery may be held back-and preerring the laws aid.
The changes in society which this general compro-
missing Of debtor and creditor has already Produced
striking. Two months ago who kept their
rages, now 60 afoot, sowing any thing !"
while others who have been afoot since they failed
| now ride, because they have compounded, and
display their real wealth without any other fear
than the odum of public opinion, which they laugh at
as they lounge in their rich drawing rooms, sit
over their champagne. This law will every where
effect important changes, putting up the low and pull
ing down the high. II will thoroughly sift society
and men thrust from their fictitious position will have
to assume their real II must also materially affect al
banking institutions, nasmuch it will withdraw
from them large proportion Of their capital and
pei them to disgorge much money that has other own
| ers than the nominal.
You will see by the papers Of this morning that Ex-
changes Philadelphia per discount--the
same as the exchange Richmond, andtwo per cent.
| higher than that on Mobile This fact would have
been incredible if prophesed three years ago. New
Orleans is quoted TO Ia per cent. discount. The
allied powers of the New Orleans banks, l see are
likely to effect combination what they cannot do
singy and there here great hopes though doub
that they will commence paying specie in the ofa
| twelyemonth. There is the greatest Indignation
manifested by English capitalists and agents Of
capitalists in Wall street, and it's neighborhood, who
hold Mississippi individual and State bonds, at the
conduct Of that sadly refrigerated State. John
Bull don't understand this legislative reputation, and
growls and shakes his head and d--ns the twenty
six confederated republics.
Bishop Hughes, the eceiesiastical politician who
reminds one orciby Of the old jesuit leaders, has
discovered that long he has known and well as he
ought to have known the American people, that they
will not submit to ecclesastc dictation in politics.
Even many Of the Catholics themselves indignant
that the sacred robes othe priest should be desected
by sweeping the floors of the forum. He has com,
out with qualifying exculpatory card, but one which
! leaves him. nevertheless, all his party spirit and TEN
per unmodifed. This distinguished eccesastic lie
learned and influential member of the Roman Church
fluent speaker, and fond ofspeaking and controlling
mems mind. He has heretofore commanded the re
spect of the community. He has now lost its conf
and has brought great reproach upon the church
Of which he is bishop. He may have good and de
fensble grounds for taking the position he does in
claiming provision for Roman Catholic schools with
Roman teachers for Roman children out of the gene
state ,und appropriated for schools but he is nexcu
sable for making it party question he has attempee
to do though thus far with less than he anti
cipated
A large and respectable body of the Roman Catho
lies, however, approve of the Of Bishop Hughes
and on Tuesday last held crowded meeting a
w ashngton Hail. in which resolutions were passe.
in favor of alteration in the present public schoo
system, and approving his conduct, after which ad
dress was submitted and read to the meeting with th
title, /" ADDRESS TO THE Rev BISHOP HuGHEs" AL
though column in length, it is published adrer
tisement in one or two of the morning popers 1t i,
bold, eloquent, and fattering to the man addressed
and teens with sentiments that may be regarded a,
an erparfe exposition Of the Hughes party. There
will yet great cloud grow of this spec the siz,
of mans hand" God forbid we should have eccle
sastco political factions in America No evil is te
be SO much dreaded, greater enemy can menac,
those institutions which the sacred palladium O
our institutions. Yours,
i HUDSON
4 New York, Nov. 10, iS4l
h.~- ~