The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-01-07

The Banks are but the channel of transmission,
and may be, under many circumstances, no
more exempt from Executive control than the
agents themselves. In all these changes, from
one agent TO another, the purse was under the
control OF the Executive. Its safety was more
endangered by the number of agents employed,
than II can be under the plan proposed in the
Exchequer bill while none of the necessary
checks could be established with respect TO the
Banks-the money being exposed, without any
safeguard, to all the dangers arising from the in
discretion of Bank directors, and the possible
| fraudulent propensites Of Bank officers.
THE NEW COALITIoN-PARTY STAGGERS
| We have been not little amused at the ex-
hibItions made in the Senate within the last
few days Up TO that time all had been quiet
The surface was perfectly smooth, and good
easy people at distance began to think and say,
and to congratulate themselves upon the fact,
that things looked well at Washington and that
the spirit of faction was allayed We antici-
pated the disappointment which has now fol-
lowed. The People may ask for qulet-they
may be worn out by political concsts-they may
cry aloud for peace, but peace cometh not The
President may invoke the spirit of patriotism,
and he, too, like the People, may ask in the
name of the country for peace. But the Peo-
pie and the President ask in vain. The politi-
clans will that it shall be otherwise. Peace will
not suit their ambitious views-agitdtion is with
them the word No repose to the country is
permitted-the succession is in their view, and
they are clad in armor for the conflict. Hence
the storm of denunciation which has been pour
ed forth in the Senate against the President and
his fiscal plan. Let NOT the People be deceived
1t is not any great dislike to the fiscal plan
which has excited this storm-it is no such
thing, Through il they strike the President,
who is to each and all of the aspirants to the
succession shining mark, and against whom
they are ready TO wage joint war and TO enter
into holy alliance" Hence the meeting of
the leaders-hence the mods of assent and the
shaking of hands and other manifestations of
pleasure whenever any thing harsh is said of the
President-hence the silly cry of Government
Bank, which the one side utters forth and the
other repeats-hence the clamor about Execu-
in the hands of the President Do gentlemen
suppose that they can thus deceive the People
A Government Bank Well, even grant it TO
be true-but ii is not-whose Bank is il? Who
created it-who may amend it-who may repeal
it2 Is not the whole matter in Congress
Can the President create, amend, or repeal it
And what powers does it confer on the Presi-
dent? Why, just exactly none at all. He APP
points three Commissioners, nth The adrice
and consent Of the Senate. He cannot remove
them without cause His reasons, if he does re-
move them, must be given to the country. Here
his whole power stops. He has nothing to do
with appointing the Agents in the different
States nor can he remove them. Nor is this
all. He has called on Congress to diminish, if
they constitutonally can, his power over the
whole subject, and vet it is Government Bank
forsooth
What sort of Bank does Mr.. Mangum, with
his shddop orer the throne, (some people
are always thinking of crowns and thrones)
want? An old fashioned National Bank suits
him, and nothing short of it, A newborn zeal
for National Bank has seized upon him. He.
can trust all the revenues Of the country, and all
the power over the currency, in the hands of
irresponsible bank directors for twenty wears.
without making wry face buthe cannot trust,he
President-he cannot trust Congress-he cannot
trust the Peopie-he cannot trust the States. Oh
no! they are not to be trusted. Nay more, he
| cannot trust himself as a Senator. In this he
may be right-his opinions it is admitted, are
evermore undergoing change-to-day one
thing, tomorrow another Ant-bank TODAY,
bank tomorrow-so tickle, so restless, so Hut
terlng, SO uneasy, that we should, in no degree.
be surprised if even now before the end of the
session, he should become the advocate of the
Presidents plan. We wish him, with all our
heart this last conversion, as we do not doubt
but that it would be for the public good.
A Government Bank 1t is no more Bank
than every man in society is Bank-every
man who has money to lend or takes care of the
money Of his neghbors. Mr. Buchanan, Mr..
Calhoun, and Mr.. Mangum, may be all Banks
according to this notion The American notion
Of Bank is an incorporation and no Bank
will suit Mr. Mangum unless it has capital of
$50,0o0,000 and to be irrepealable for twenty
years The Bank Of England, and for aught
we know the Bank of France, may have an
agent in New York TO buy and sell exchange
and yet no man ever thought until the present
time that an agent was a Bank The idea is
utterly ridiculous and absurd "Oncc more nm
to the walls, good friends, once more or fill the
breach up with the alkieddead" Such was tho
language Of KING Henry of England
THE OHIO STATE JOURNAL,
The prospectus Of the Ohio State Journal.
the Clay and Ewing paper of that State, de-
clares that ''the West can never maintain mere
provincial relations with the eae,ratea and i'm