The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-02-24
THE LOBE-EXCHEQUER BOARD" PA
PER MONEY PARTY"

The Globe of Tuesday evening, in an artl-
Gle headed g The paper money party" is pleas
ed to include US in that category. With all due
Difference to it, we do not select it for our spon-
ser, nor will we submit to bear name unless
we are convinced that we can justly claim il.
What we will not usurp we will not suffer to be
forced upon US.
We are not the advocates of an inconverhbe
paper money; we are not the advocates OF
general currency, whose soundness is Deepen
dent on the fuctuating credit and resources OF
corporations Of Individuals we are not the ad-
vocates Of National Bank.
Though we are the friends of paper curren-
cy issued by the Government, not merely as an
instrument of temporary expediencY, but as
matter OF general policy, we yet cannot under
stand how the Globe can, with any proprlety,
or consistency, attempt to afhX to US title
which it deems odious. If we merit the appel
ation, some are united with US whose company
we trust will, in the estimation of the Globe,
remove part, at least, of the opprobrum at
tached to the defence of Government paper
currency Mr.. Madison was its friend; Mr.
was, more than once, suggested by Mr. Wood
bury Mr. Benton-as far as our brief memory
of political history serves us-has been, we be-
lieve, consistent apostle IN theory, OF the hard
money system but We are of opinion that all
those associated with him as political allies vo
ted for the issue of Treasury notes Diferen
ces of opinion may have prevailed in relation &c
the character these notes should bear, and the
intent with which they should be issued to bring
them within the pale of the Constitution bu
yet the great mass Of the Democratic party vo
ted for paper money. The odium which the
Globe endeavors to cast on us must recoil on its
own friends.
The mere sanction of the issue of Treasury
notes cannot, in consistency with the opinions
hitherto held by the Globe, be considered a JUS
tiication Of applying the name of "paper-mo-
ney party" to any set of men. Otherwise, the
whole party-with very few exceptons-o
which it has been for years the organ, would
be indisputably obnoxious to the title
Ii will be said no doubt in replication, that the
Treasury notes issued so repeatedly during the
last Administration, were but a temporary expe-
diency, and were in the form of loan Tha
some of them bore an actual interest, and were
consequently in the form of loan, we do not dis
pute; but that large amount ofthem bore merely
a nominal interest, and consequently were in
tended to mingle in the streams OF circulation
and that the authority for the issue was renewed
with this knowledge by the democratic ma
jority, and without any restriction as to the MINI
mum interest, Is equally well known. Moreo
yer, not OILY did the practice prevail of issuing
paper money without interest, but the practice
was, by some, earnestly advocated on the GROUND
that it would furnish a sound and uniform cur
rency.
But the cutlery against Government issues is
not only inconsistent, it is unwise. If it is in
tended as signal for the parties to rally on the
old strictly defined hues ofdistinction it is tanla
mount to declaration, that no matter how lone
the disastrous condition of the country may be
protracted, we care not, No remedy for the evil
whatever the probability it may give relief, shall
be tried, unless that remedy be our own
Though it may possess all the virtues boosted
by the one our skill has discovered, yet if i