The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-08-13

"A NAIlONAL BAN a.
Whatever evasion there may heretofore have been
on this question the part of opp0neDts all doubt
as to their views and intentions must eeass. At
the extra session last summer, the Clay Whe carried
through both Houses of Congress bill establishing
Bank of the United States, with capital Of thisty
millions of dollars, with the privilege OF ncreasing 1t
TO FIFTY MILLIONS in certain contingencies pro-
yided for in the act This bill, it is we'll known, was
promptly vetoedby the President. A further attempt
was make to get national banking corporation estab
shed by passing measure In limited and restnctsd
FORM SO as to meet the views Of the President. 10
this movement, it will be recoected, Mr. Clay would
give countenance, because he was unwilling to
yield to the dictaon of Mr.. Tyler. He wanted real
Bank and no halfway measure But this second OIL
also passed by both Houses and shared the tate
Of the first Then it that the wings, both in and
out of Congress- set up howl of indignation which
was heard throughout the whole land. The President
was denounced by Mr.. Clay and his followers with
severity unusual even in our most violent political
contests The Clay members OF the Cabinet resigned
their places and the extra session was closed in con-
fusion and dissatisfaction manifesto was issued by
Mr. Cays devoted partisans appealing to the people
from the decision of John Tyler on the question OF
bank and calling upon them to express their condem
nation of the Executive vetoes.
These events show the determination Of the wings
to have bank On this question they have separated
from the Chief Magistrate have divided among them-
selves and the greater portion Of them are now rally
ing around Henry Clay their candidate Tor the
next Presidency 1t must be perceived and admitted
that in this contest bank is directly in issue To this
assertion we anticipate denial. The wings can no
longer shun the charge that they in favor Of such
an institution and will establish it whenever they shall
have the power. Indeed this the moro manly and
honorable portion of their party expressly proclaim.
large meeting was held, few weeks since, IN the
city Of New York, which nominated Mr.. Clay as
Presidential candidate. Gen. Root was present ana
addressed the meeting In the of his remarks
he came out strongly in favor of an "oldasbioned
Bank of the United States" But why multiply pro0fs!
1t is notorious that the wings contending for
bank, and the people understand their designs. 1t
now only remains for all good men to resist as most
seriously threatening the public liberty, this unds-
gused attempt to re-estabsh bank tyranny, bribery,
and corruption.
On many occasions heretofore the people of the Uni
ted States have unequivocally decided against ma
tonal bank On great political question has there
been so much unanimty on this. So general was
the approval of Gen. Jackson's veto in 1852 and so
universal the acquescence IN the popular decision
then made that the question supposed to at rest
forever But federalism is always the same Itseeks
to govern by corporate monopoes the influence OF
money! and the practice of corruption. Its constant
aim has been, and is to place power In few hands,
for whose exclusive benefit the to be adj
minstered. 1t wishes to put republican institu-
tons beyond popular CONTROL and convert them INTO
an irresponsible oligarchy. Hence its persevering et
forts to connect the government with the money pow
er. With fifty million bank extending its branches
into every part of the Union, having an unlimited
amount of money at its command capable OF control
ling all the pecunary interests of the people, counting
its immediate servants by thousands, and holding in
its hands the desnies Of all the commercial and bu-
sDess classes, what tremendous combination OF
power does it present! Were such institution
created, what would remain of popular liberty He
who supposes that should longer be free people,
cherishes a vain delusion 1t is this mighty engine
of power and corruption that the wing party would
fasten upon the country Could they succeed in this,
they know that their rule would be permanent But
| failing, they only prospect Of a continued and
hopeless existence in weak and contemplate mi
nority Whatever Of energy they yet possess will
be exerted to give success to this most alarming
attack upon our free institutions. But they will
they must fail. The spirit of resistance is aroused.
Our countrymen have become alive to the dangers
which menace their rights. They will not, at this
great crisis prove recreant to the of American
freedom, but will again, and forever, crush the do
mestc enemy whose reasonable designs they have
30 often opposed and defeated