The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1841-12-21
From The N, Y. Epsning Post.

The other day we urged several objections to Mr..
| Tyler's plan of government bank. The Madlsonlan
replies by quietly extracting from one OF the carrier
messages OF General Jackson, passage IN which he
suggests the plan OF a bank branch OF the lrta'
sury department. having the public and individual de-
poss for its basis, with power pay its own expen-
SEES by selling bills of exchange at moderate pre-
MUM.
No doubt the Maaisonan supposes that has floor
ed by this argument There one or two things,
however, of which that journal seems not To be aware
In the first place we do not take General Jackson
mistakes for rule of political conduct, Much as we
respect his general character aud fully as we approve
of the principles by which his administration was gov
erned, we have claimed for him the gill OF IN
fablliiy held ourselves bound by his errors
When he suggested treasury bank, he did not un-
derstand the subj CT so well as he did Afterwards
NEVER REPEATED THAT SUGGESTION, It was merely
thrown out while his mind was on lis passage to a com
pleie conviction of the improperly OF making The gov
eminent trader in the money market anu II was ne
yer taken up by him again lie abandoned II as an
ostrich abandons her eggs in the sand We are sorry
To see Mr.. Tyler picking 1t up, adopting 1t, and al
tempting TO hatch 1t INTO lie by his own Incubation
The discussions and events which followed this
suggestion of General Jackson, acting upon mind
at once sagacious and sincere, no doubt showed MN
his Ii the Madlsonian sets up his example as
a defence of Mr. Tyler, shall claim that the exam
pie be faithfully followed. We shall claim that Mr.
Tyler exercising the same fairness Of judgment anu
convinced by the same powerful shall renqush
his scheme with the same readiness shall take no
further steps carry nto effect; and, IN short \,
shall General Jackson afterwards treated his
own project; namely, the offspring OF imperfect
views, and wholly unworthy of being brought for
ward again.
| There is an apology, however, to be made for the
errors of General Jackson which cannot be urged in
favor of Mr.. Tyler The first suggestion of Irea-
sury Bank made before the question had been so
fully sfed by the dspuants On both sides; before the
grounds Of safe judgment were so fully in possession
AZ dan,
Of he Government with the operations OF the money
market amply illustrated by experience, as 1t
now is. Mr.. Tyler puts forth the plan in the face OF
the very considerations which led General Jackson TO
reinqulsh 1t.
We have right to expect cf Mr.. Tyler something
better han that he should fellow General Jackson IN
his mis- takes. In the public career of that great
man, there are thousand things more worthy Of be-
ing initiated than his casual suggestion OF Treasury
| Bank
The Post is mistaken in asserting that Ge-
neral Jackson never repeated the suggestion OF
Treasury Bank He first made il in 1929,
and repeated it in 1880 His mistakes, we
agree, should not be taken a, a rule of political
conduct; but whether his suggestion was mis-
take we do not think defnitivey settled-unless
the Post claims an infallibity for itself which II
disclaims in favor Of General Jackson. Against
an incorporated Bank, the people have more than
once given their fiat; and the President thinks il
unconstitutional Against pure Sub Treasury
the elections of last fall appear TO be decisive
! If Mr. Tyler continues TO act, as no doubt he
will, in accordance with the dictates of his con
science, he cannot favor the former; if he is re-
solved to represent the will Of the people, as
manifested by the votes Of their Representa-
tives, he cannot give his sanction TO the latter
and accordingly he signed the bill for its repeal
! What course was left him? He has given the
outlines of a plan, which he deems constitu-
tional--to condemn it now is premature, until
its details shall determine its precise character
At all events, it is but suggesiion--and if
passed, is repealable, But, we believe, will
give peace and prosperity to the country.