The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-03-11
From The 81. Louis Bulletin
THE EXCHEQUER.

We learn from an Intelligent source that there is
but little doubt Congress will before its adjournment,
agree upon the principles and details OF plan e'n-
bracinp the main features of the one recommended by
the President and that relief will thus be gwen to the
country.
We hope anticipatons may be realised IN THIS
respect We have found no intelligent man who ques.
tons the fact that this measure would at once supply
the necessary amount of exchange for the commercial
community and have heard of no objections TO 1t
which plausible much less iorclbie or salts
factory.
There are those amongst US whose disappointment
ut the failure fheir tavorte scheme an U D Bank
has led them to condemn this measure without the
slightest examination into 1t, principles ana effects
That those who allow others think for them, should
condemn this plan strange but 1t Is strange that
men of intelligence and PATRIOTISM should JON IN The
hue and cry against IT, for no other reason than that
Mr.. Tyler proposed IL
Our readers may not generally be aware of the mo-
tives which influence many of our leading p)lti-
clans They may not know that Congress has bee ONE
a mere machine for making Presidents, and that all
neas ures are discussed and decided with single
eye to their effect upon the claims OF aspants TO me
Presidency.
If Mr. Tyler brings forward measure OF import
ance the first inquiry made Is, what effect wlll ITS
adoption have upon his popularlty} How Will 1t
affect the prospects of Benton Mr.. Clay, Mr. Cal
houn or Mr. Some bod yelse Ii either of these gen
tlemen init reduce measure, the inquiry Is IN
stiluted and the matter is disposed of accordingly
This is the patriotism of politicians They have
misread the maxim which allows charity to begin at
home and substituted the word patriotism in It's
place. Their patriotism looks TO the advancement oil
self and self only.
Such are many, il not most OF our public men
Had the proposition for an Exchequer originated
with Mr. Benton it to be believed that would meet
with opposition from single Bentonan Democr I IN
Congress, single Bentonan press IN the counlryf
Had it originated with Mr.. Clay, would any Clay
Wing in Congress- any Clay Why press IN the ma
ton, oppose II :
Had Mr. Benton been its originator, the full weight
of Gen Jacksons authority would have been used in
Its favor and the writings OF Jeferso cited TO prove
its conformity with the genuine principles OF Demo-
cracy Had Mr. Clay been It's pIoJ' ctor, It would
have been harmless yet efficient powerful to do goou
and without the ability TO do harm, and the name OF
the ustrious Madison invoked to thwart the move
ments of its opponents
But now forsooh these dSintereSted aspirants fof
the Presidency behold in its features delmmy IN It's
form no comeness in its proportions awful dlstoruon
and in its powers weakness 10 effect good and strength
to do nischiefil
| Ii il could elevate either Of them to the Presi-
dency, should find but one of them opp sed to H.
1t is time for the people, for those whose deepest IN
teress are staked upon the legislation of Congress- TO
speak out upon this question.
The first question for the people to ask is, will
the Exchequer equaise exchanges Tbs is the
great desideratum. IL is not denied that IL riH do
his.
Tie next question is, Wilt be dangerous instu
| ton
1t said that 1t will increase Executive patronage
by placing the revenues of the United States under
the control OF the President through his friends. On
this point he has given Congress carte blanche he
dsclams all wish to control the purse Congress may,
if they choose select the agents to nduc IT. or vest
the power of selection in the Senate or leave II to be
exercis by the President This idea is therefore IL
dculous But will the Government have too much
power for the safety of liberties, under TINS plan
There sensible plan under which 1t can exercise
less power The power of moneyed institutions or OF
governments controlling them, - founded upon their
| loans of money The bank which loans out its mil
lions to the community and holds mortgages or deeds
of trust upon property is our master and may De
a tyrant. The miser who keeps his treasure In his
vaults and parts from only to purchase what he con
sumes has no power or influence
It's the hard listed unrelenling creditor only who
has power TO affect the community who have borrow
ed his money.
The man or the government that has millions on
wants but who does not become creditor by making
loans can Cypress no one
Give me the wealth Of the Indies collected IN specie
placed under my CONTROL and deprive me OF the power
10 lend it, and whom can Cypress
Permit me TO issue, upon that specie, my notes OF
certificates of Indebtedness, to the extent only OF my
expenditures, and ofdeposites confded tony Keeping
and to be returned upon demand and have no power
for evil.
] But throw down these barriers and allow me 70
loan money, take mortgages and deeds in trust, ana
sell the property of my elbows, and with few mil
lions have the power to do much mischief,
Contrast the Exchequer with Bank of the Y nitee
States in view of these principles. Look at II by u
seLf in reference to its power TO do good and evil ant
say If il be monster