The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-04-12
From the Old School Republican.
WHO ARE THE REGULATORS



"By THEIR FRUITS YE SHALL KNOW THEM"
Every friend Of his country, every friend Of free
dom throughout the world, have witnessed with PAIN
the destruction Of the credit Of the General and
Governments. Upon what elevated ground dii We
as people, not two years since, stand we had ou'
TO ask intimate the want Of money, and European
capitalists ready TO empty their golfers mo oui
laps. o,c.
of homes, pride and exuItation TO every citizen Inc
American abroad could point TO the Unied o'aes 80
not only "the land of the free and the ho"o ~ m
brave" but of the honorable and hlghmlGGueun rec
man " the honest man the noblest worA :" oou
How have things changed1 he Revision IN 'raue
and the CONSEQUENT arrangement Of our monetary ar
fairs-prostra ION Of enterprise ana lno',uuai
NAV not have been in the power oil our uene,a' suu
| State Governments to avert eh''ey ."u,,'uua'
States might have encountered Rreat o'''oules =,
meeting their engagements, and have experienced
temnora,y discredn in defiance OF every Effort Ilad
The credit of the General Government been preserved
| still we might have proudly held up our heaus as
nation and claimed for country that respect when
proper regard for our own character Us "ho'e'
would have entitled US to.
With resources acknowledgements more than ade-
oua,e 10 meet every contingency why that the ere ut
Of our Government SO low that cannon GET money
To meet its pressing wants. In business intercourse
bet ween individuals the means to meet pecuniary Oh
legations are taken largely in the account II the abi-
lily exists and the disposition be wanting, the law
comes in aid to enforce the payment. moi so win
Governments. With them high sense OF moral OBJ
legation is most important
What ayails the possession of the most ample
means. if the disposition to meet promptly pecunary
obligations do not EXIST Governments cannot be
sued executions cannot ISSUE subjecng Government
property the payment OF It's just debts Commence
in abiding icngress to pay, IS TO government ere
dit indispei,sable-not willingness which lnsures pay
ment only when the money is actually in hand but
that sensitive and delicate regard for the puoiic at
which will lead to watchfuness in providing against
every apprehended contingency, and when dihcultes
not anticipated arises, Willingness 10 submit 10 any
sacrifice rather than to dlshonor
Does any one believe that the credit OF the United
States would have sunk low, if Congress had have
given evidence Of its determination to provide the ne
cessary means to meet promptly the money u might
borrow, Can any one for moment belleve that the
same dstr,lst and alarm would have pervaded the
land if Congress had evinced determination to de-
vote itself to the investigation Of the difficulties, and
inquiry INTO the best means to remedy the evils
When Congress for months deyotes its energies to
the prostraon Of coordinate ranch oil the 10
yernmenl-when the leaders of great party, and
that party having decided majority IN both branch
es of Congress boldly their determination to DIS
grace the President-force HIM to resign by with
holding the suppliesstopping the wheels OF Govern
ment and that determination responded to by their
party press from every part OF the country that press
affirming that the People will stand by Congress and
sanction their efforts-can any be surprised that
the credit of the Government should be Frustrated
1t is in vain that the President and his Cabinet la
Dor in the discharge of their duties. 1t IS in VAN
that then inquire into and bring to view the difhcul-
ties by hch the Government is surrounded, and the
measures demanded by the public exigencies, if a
party an organized party under the control OF lead
ers who have time and again declared their purpose
to disgrace the President refuse to listen TO the APP
peas of the country, and mock the suferngs OF the
people When the idea of reputation was first sug-
+. thn
every one' All were anxious to be foremost IN re-
p,ldiaiing reputation Mississippi was dsgraced,
said the Wings See what Locofocosm has done
for Mississippi said the ultra Wings If its destruc-
tive policy be not arrested, our own noble Ohio will
be disgraced Our State debts will be repudiated,
unless the people do speedily dismiss the Locos from
power is boldly and loudly asserted by the eihgy-
burning press.
Now all this is very pretty defamation, and if fol-
lowed up by efficient action giving evidence OF SIN
cerity, no one would complain But when course
of action is adopted by the leaders of the ultra Wing
party in Congress- and not rebuked by those who SO
recently turned up their eyes in holy horror at the
very idea Of reputation, which directly and neces-
sary leads to that consequence, we must be permit
ted to doubt their sincerity.
We venture the that there is not an in
divdua in the United Slater who would not repel the
charge base SANDER, that he was in favor of re-
pudation. No one expects--the holders of the stock
do not apprehend, that any State will formally re-
solve not TO pay It's Just debts ne holders OF STOCK
would not doubt but that resolution in favor of pay
ing every cent which is due, would be adopted by
every Legislature in the United States The diff
Guilty, the danger is not at that point. The danger
arises from apprehended failure to provide the ne
cessary means; whether from the want Of ability, or
as party measure, it matters not; the effects are the
same.
If such be true, we ask again, who are the repuda-
tors Are not those who having the power, still re-
fuse to exert that power TO restore confidence and
prosperity to the country truly and practically repu-
diators The effigy-burning portion of the Wing
party may deciaim as loud and as long as they may
choose against reputation, yet should they continue
to refuse adopt necessary to restore the
credit Of the General OBSERVATION-DISCLOSURES financial
health and vigo the centre, and consequent conf
dence in all the parts they will be held by the impair
tia and just judgment Of poserl,y, as Responsiveness
PRACTICAL REGULATORS.