The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-02-22

OlateS was nearly In Stale OF exhaustion, anu the
country involved in a with of the most
formidable powers of Europe the Government was
forced to issue millions Of Treasury notes to sustain
its credit and to resist the aggressons of foreign
power. Did this issuance of Treasury notes create
a dangerous influence? What evil effects followed
the adoption of this system? Did it subjugate the
liberties of the people 2" On the contrary, it infused
strength into the public arm, and impaired renovated
vigor to the action of the Federal Government.
The real source of the opposition to this measure,
and the disposition manifested by adversaries to
surround by every thing that is Objectionable and to
render it obnoxious possible, if probed to the bot
tom would perhaps be found to lie in disposition 10
resist all plans Of reiefa ameliorating systems for
the regulation Of the currency, and the safe keeping
of the public money. This disposition may be traced
to ambition and revenge engendered by disappointment
and they seek their triumph at the sacrifice of
national interests. The philosophical inquirer into the
alleged of this consistent and rancorous host
ty find that moments doubt that the
hostility springs from the foregoing considerations.
| The principles, as regards the organization of the
Treasury Department, are trust, sufficiently clear
not to stand in need of any further illustration. If
they did, it would be easy to corroborate them by
ferences to other arguments of very familiar, and at
the same time of very satisfactory kind.
Our opponents charge the President with the desire
to WELD the purse and the sword Is there any foun
dation for this charge? The President to be
fully aware of the danger arising from mercricious
union between these two great elements of power.
In his Henrco letter he expressly the doc
rine, of placing the sword and the purse in the
hands, to be dangerous to liberty. Never there
more wise and patriotic sentiment and the who
should act up to it deserves say, the highest
mendation. The President, it seems, is anxiously
DESTROYS that the control of the money power of the
country should be separated, far possible, from
the political power of the country.
Now, did the authors of this charge suppose when
they made these assertions that this letter of the Pre-
sident entirely forgotten2 Has the Presiden,
openly declared that separation of the purse and
sword ought to be made by Congress? Yet, in the
face of this avowed declaration the President is
charged with advocating the doctrine as imputed to
him by the authors of this allegation.
"Oh, hads thou cruel been content to seize
Hairs less in sight, or any hairs but these"
Is there not according the provisions of the bill
of tie Secretary of the Treasury, complete disuni
on as far as any system can be devised by the wisdom
|
that is the gst of the questionthere the argument
| rubbed.
If we understand the functions of the Board of Ex-
chequer, and the views of Messrs. Clay and Hunting
ton to be the correct and sound exposition Of the
ganzation of the Executive departments, we unhesi-
tatngly assert that there is ground whatever for
the assumption that the President will exercise those
powers which properly and exclusively belong to the
Legislative department of the Federal Government.
| But how is it that those powers are at present
lodged with the Executive Had the President any
agency in producing this state of things, which is
now selected as ground of elimination? He sane
toned the repeal of the SubTreasury. Viewing the
system as hostile to the genius of our republican in
stutons, he could not have done otherwise. And is
he censurable for this act? The first rule Of judg
ment we contend in such cases. if indeed its appca
ton were practicable, would be for those who are
arraignng his motives and his actions to place them
selves in the same situation of him upon whose
duct they have decided, in the midst of the difficult
ties by which he was surrounded and with no better
re,v of the future than what their judgments could af
ford them Would they not have acted with the same
promptitude in abrogating an obnoxious measure,
repudiated by the people, In performing this act he
obeyed public sentiment-he gratified public expec-
tation-he acted in accordance with the majority in
Congress- But this majority having failed to provide
system for the safe-keepng and disbursement Of the
revenue, they turn around and throw upon his Shout
ders the responsibility of the present condition of
things; and the bull Of anathemas scarcely less than
papal, has been Illuminated from the high tower of
authority, under the pretence Of indicating their
course of action.
Happily for the country-most fortunately for the
Presden-the reign of delusion is fast passing away
the nation restored to its sobrety of thinking by the
succession of new developments, demonstrating the
patriotism of his motives and the daring profgacy of
his slanderers will judge of his actions not according
to the ambiguous interpretations of his adversaries
but will pronounce judgment that will lead to his
redemption and the degradation Of his
In reviewing the arguments of Benton and Bucha
nan, we are orciby struck with the differences that
characerzes their assaults the report of the Secre
tary of the Treasury mutual habit of overreach
ing has begat strange and exceptionabe style OF
writing As regards the latter Senator mystery
seems his motto, and the temple of EIeuss receives
his homage. Facts are stated by him alphabetically
when positive assertions meant and deductions are
| left for the reader to draw, while Mr.. Buchanan re-
treats under the patronage of obscury. Professions
of confidence and respect made the vehicles hos
lity, and, often, Of invasion. Open, fair, ingenious
dealing Isl fear stranger to his views. But the
former marches boldly up to the mark, and makes
known at once the weapons of hostility In his
speech the Exchequer board, find the following
language;
"A division has taken place in the great Wing party
on this point 1t has split into two wings; great,
and small wing. The body of the party stand fast
on the Hamtonian ground of 1871 fraction of the
| nartv have slid back to to the WalDole ground of