The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-03
PUBLIC FAITH.--BANk.--R
CANISM.


We were struck with the earnestness and
eloquence with which Mr.. CLAY, of KY, few
days since, vindicated the public faith against
the vandal spirit Of Loco focoism; and, referring
10 the speech made in the Senate by MIR. TYLER,
in 1884, against the removal of the deposites
from the U. S. Bank, we were also reminded
that the public faith found sincere friend in him.
Abiding TO the consequences of the act of the
Secretary of the Treasury, in removing the de
posts, Mr.. Tyler said
/" Has he given greater stability to public credit :?
That only he done by rigid adherence to PUBLIC
FAITH. If a violates contract, into which he
has entered for valuable considerations all confidence
is lost in him by the public so it is with Governments,
In more especial manner PUBLIC FAITH is the very
breath of their nostrs; public credit rests public
faith, and confidence in the fidelity in which Gov
eminent fulhls its contracts, is the life blood that
nourIshes and sustains its credit Sir, that confidence
is sensitive the spider in his web to every passing
gale the breath of suspicion agates it, and the hand
OF violence destroys 1t.
In another part Of this speech, Mr.. TYLER
thus alluded to the necessity of settling the Bank
controversy one way or the other:
This contest has continued long enough its agita-
ton has failed to produce disastrous results !;
whatever affects the currency affects every interest OF
society. Why shall this dispute be periodically con-
tnued let ii he settled in way the other by the
States; and settled permanently. The question of
bank bank has been always made political
stepping stone ambition seeks to vault into the Pre-
sidenlia saddle through its influence Sir, it is the
last subject which ought TO be handed 10 polti
clans; there is too much of distress produced by its
agitation the interests of the country too nearly
connected with the currency to be eernay made the
subject of political specuations.
Mr.. TYLER also defined the party to (Which he
belonged in the following manner:
We are continually told of the necessity Of preserv
ing the republican party Such, sir has been my con-
slant effort since have been in public life. i regard
pr, seryation connected with the preservation of
the Union and of liberty To its principles have
continued to cling with all my soul and with all my
strength. But | will tell the Senate and the country
To what republican party do belong-to that which
brought Mr. Jefferson into power-which rests upon
the iedera,ive principe-which febukes every assump
ton of authority not warranted by the Constitution
which proclams the involablity OF law, and the strict
observance of public faith. To this party do belong,
not to that nondescrip patchwork mosaic party,
which meets in conventions and calls itself the repub-
can party Not to that party which changes ITS prin-
cipes the chameleon It's color, with every cloud or
raw which proceeds from the Presidential orb-which
is one thing TO day another to morrow and the third
day whatever chance may make -nor to the republi-
cut parity which plays oil names against men, calling
lac father of the American system, for the pur-
GO. in advance of him upon that very system-de-
hlunecs the tariff and yet votes for and sustans the
tlrf of lS2S; that bill of Observation-Disclosures the re-
publican party which denounces the bank and upholds
tue proclamation denounces the bank and sus-
tan the force bilI-which dcnounces the bank, and
even sustans the President in his assumption OF
power conferred neither by the laws or Constitution
No sir | belong not 10 that republican party Its
work i that of President-making. Even now 1t is
u notion. Before the President is scarcely warm in
ms scat-not yielding to what decency would seem To
rculreno permitting one short year to elapsc,
utu purity i ia foil march calling conventions orgo-
ming committees aud seeking Ivy all manner OF means,
at this early day, to commit the people. But VIII
Tell them Mr. President, in the language OF holy WIN,
that the race is n to the swift" They are too
mhsh IN advance of that question he people VIII
dc sand short breathing time, and when the pro-
~ time Arrives for them to act trust, SIR that they
wipk onyto high considerations in selecting an agent
10 NJ The highest office the world because conferred
10y free aud enlightened people ! hope that they
WI select the individual most capable OF advancing
The public good whether he be the iayolte OF this ~
That NAN who may be high IN office. With that busl-
nrss have nothing % do hope the country VIII
have nothing do with it, until the vital questions
winch engage shall be settled on a proper
ha-is
So we hope now.