The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-03-31

and the coin locked up for its redemption are at
loss to understand the ground of Mr.. Bentons OPP
position. Not dollar of paper be issued by this
contemplated institution, unless dollar in coin be
boarded IN It's vaults and not dollar of this paper
can be returned to this institution, unless equal
amount oil coin Is put IN circulation Thus the issue
OF mere paper currency without coin to represent IT,
and the consequent increase or dlminution In the
quantity OF circulating medium, without regard to pro-
duction by human industry and consumption by hu
man want, is impossible.
We can see no essential difference between this
project and that favorte measure of Mr.. Benton and
his immediate partisans the Sub Treasury. Each
regards coin the only circulating medium or nea-
ofvaue, and each contemplates an actual repre-
senatIon In paper the In certificates of deposNe,
the other in Treasury notes.
Now If this party in Congress find other OBJ
lection to this scheme than its issue of coin the
real representative OF paper, which was feature of
their own favorite scheme, ask them, in the
of that patriotism of which they claim much
their opponents, and we doubt not justly, lohy they
oppose 1t The project certainly do no mischief
and, II 1t promises any good it deserves fair trial
and we appeal to them really governed by
that patriotism which they profess give it this trial
AT present the only keepers of the Treasury State
banks, the very last institutions in which Mr.. Benton
would place it, if his declarations are to be re-
ceved He surely knows that the Sub Treasury can
not De revived before the Cxt Congress shall meet
IN December lS43; and even if bill to revive it
should pass both Houses the of the President
is not certain. He, therefore, has the alternative of
leaving the Treasury without any other agents or
keepers than the State banks certainly for two years
and probably for longer PERIOD asserting plan
substantially like the Sub-Treasury. But Mr. Ben
ton, like Mr.. Clay, is probably looking to the Pres
dency, and to the ascendancy of his party the only
means OF reaching 1t. He knows that his only chance
for ii in the recovery of power by the Democratic
party and that this recovery depends upon the union
of this party upon candidate for the Presidency at
the next election and as he believes that Mr. Van
Buren, is the strongest candidate, and the only one
whom he can succeed he is DESTROYS of promoting the
election of that distinguished public servant and con-
sequently of making all Congressional action de-
volve upon the Presiden ial election. His mode of
operation is uncompromising opposition to Mr.. Ty-
ers administration; for if Mr.. Tylers administration
be sustained by Congress, it will be sustained by,the
people, and the ascendancy of the democratic" par
ty technically 50 called will be prevented. There
fore the administration must be opposed, embarrassed
prevented from accomplishing any thing, in the hope
that the people, seeing its imbeciity, and without in
demand change.
We do not complain of Mr. Clay or Benton for
seeking the Presidency for it is object of audable
ambition. But we do complain of them for seeking
their object through public difficulties, for preerrng
that object to their countrys honor safety, and pros
perity, for being willing TO sacrifice their country in
order to govern it. These severe imputations.-
But appeal to every candid reader for saying that
they are justified by the incorporating opposition
of both these distinguished politicians every move
ment of the Executive. We appeal to the partisans
of Mr. Benton in behalf of the country We ask
them if their consciences Justify them in throwing
away four months in Presdent-m making, while the
interests of their constituents neglected :?