The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1841-12-24
From. he Buealo Commercial Adperli

The Presidents Message looked for with un-
usual interest and has been read with avidIty. Every
one has probably ere this formed his opinion to its
merits but custom and in this inclination, re-
uuires some comment at our hands. Briefly and can
iidly then like it, There is no nonsense, wire
drawn hair splitting reasoning about it. 1t is manly
and Ierspcuous, giving clear and succnct account
ofal matters properly within the scope of such docu
ment and beleNe will receive the general appro-
baton of men OF all parties
10 regard o the Caroline affair, the cases of Nc
Leod and Grogan, our relations generally with Eng
land the Slave trade the right Of search asserted
by Great Britain the tone OF the President is dignlfed
and such as becomes the Chief Magisra OF the
American people,
That portion of the Message relating to the vcxed
que ston OF the larh confess rather surprised us
Nv its hberay 1t not only yields but advocates the
propriey Of discriminating duties. Consider ~ the
slratncss in these matters of that peculiar school of
politicians with which Mr. Tyler has generally acted
heretofore his remarks uponthe policy OF duties will be
hailed in the Northern aud NJ ddle States evidence
that the true doctrine in relation to the TaI will ere
long he recognized universally.
Tie great feature Of the Message, however, and
that which has attracted the most earnest attention,
is the Presidents fiscal project. Too much caution
can hadrly be observed in pronouncing opinion, in
advance of its practical operation, on measure OF
such vital Importance radical change IN nan-
cal system But aer all the reflection we have been
able to besow Mr. Tyler's project, strikes as
emincnty calculated TO harmonic conflicting views
and TO secure the country, without the dangers of
a Bank all the general benefits which such insti,
tuition could confer 1t provides in the first place for
an issue Of fifteen millions in Treasury notes feceva-
bic every where at par for public dues, and the issue
Of certificates to extent not specified the depo-
sit of gold and silver such certificates to be divided
into such as the deposior may choose. Here,
then il currency, emphatcaly national at pro-
yled without the intervention of Bank. 1t is acur-
rency that must be at par hroug hou the Union be-
| Al, L. nj
i based on gold and silver, and It's redemption guar
anted by the faith of the nation In nationality and
security 1t goes infinitely beyond any thing we ever
enioycd even in the most palmy days of the tate U.
: Bank 1t also has another superiority a Bank
constituted in the ordinary way-there need be no
delay in lis commencing operations It's benelice, I
effect can be Xpericnccd at once II wlthdraws no
capal from the ordinary channels, thereby ag-
rravating and proonglng the existing distress as
would be the case if 1t necessary to 90 through
The process of paving in the stock of National Bank
Beside thus creating currency without disturbing
existing business relations II authorizes the sale of
drafts at premium barely sufficient 10 cover cXpen-
ss and of course less than can be afforded by private
canitalists and corporations, and also authorize the
purcha of drafts on places one hundred miles dis
tnnt provided such drafts rest on real substantial
basis are PAYABLE at sight, or within short time, and
farther that the exercise Of this power on the part
of the government agents shall not be prohibited by
The State in which the agency is situated. In short,
| ia Government Bank to all ntcnts aud purposes,
Invested Of its most, and indeed, almost only dan
rcrols power, that of discountlng To our view the
scheme can be made to answer every purpose for
which Bank is desired by the people at large. 1t
MI afford national currency IN the broadcst sense
ri The torn and il viii facilitate in the most ample
| manner our domestic exchanges. What more is re-
! ,niircd: We are abndanty satisfied that National
! Rank of discount is not the wish of the People and
If it could be obtained, after the experience of the
last two or three years we, at least, would not ask
] 4. IA Il .,..,I.s,