Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1842-07-28
MIR. OF AY'S s r e E q n,
At the great Festival, given at Lexington, Ky. on
the 9th Of June.
(coScLrDED FROM our LAST PAPER.) =

present embarrassed condition of the country
hope with candor and fairness, and withou,
giving offence to any of my fellow-citizens,
who may have differed i'm political sentiment
from me. ltwould have been far more agree
able to my feelings to have dwelt, as did in
lS32, during the third year of the first term OF
PresidentJackson's administration, upon bright
and cheering prospects Of general prosperity.
thought 1t useful to contrast that period with
the present one, and to INQUIRE into the causes
which have Brought upon us such sad aud
dismal reverse. A much more important oh
Ject remains to me to attempt, and that is to
point out remedies for existing evils and dis
orders.
And the first would suggest, requires the
cooperation of the Government and the peo-
Ple-it Is economy and frugality, strict and
persevering economy, both in public and pri-
yate affairs. Government should incur or con-
tlnue no expense thatcan be Justly and honor
ably avoided, and individuals should do the
same. The prosperity of the country has
been impaired by causes operating throughout
several years, and it will not be restored in a
day or year, perhaps not in period less
than 1t has taken to destroy it. But we mus,
not only be economical, we must be industri-
Gus, indefatgably industrious-An immense
amount OF capital has been wasted and squan-
dered in visionary or improbable enterprises,
public and private 1t can only be reproduc-
ed by labor aud saving.
The second remedy which would suggest,
and that without which all others must prove
aboriivc or Intellectual, is sound currency,
OF uniform value throughout the Union, and
redeemable IN specie upon the demand of the
holder. know of but one mode in which
that object can be accomplished, and that has
stood The test of time and practical experience.
II any other can be devised than Bank of
the United States, which should be safe and
certain, and free from the influence of Govern
ment, and especially not under the control of
the Executive department, should, for one.
gladly sec it embraced. J am not exclusive
ly welded 10 a Bank Of the United States. nor
do desire to see one established against the
will and without the consent of the peopYe.
But all my observation and reflection have
served to strengthen and confirm my convic-
ton, that such an institution, emanating from
the authority Of the General Government, pro-
perly restricted and guarded with such improve
ments as experience has pointed out, can alone
supply reliable currency
Accordingly, at the Extra Session, bill
passed both Houses of Congress, which IN
my opinion, contained an excellent charter.
with one or two slight defects, which it was
intended to cure by supplemental bill, if the
Veto had not been exercised That charter
contained two new and think admirable feaI
lures one was to separate the operation of
issuing circulation from that of banking. con-
hiding these faculties to different boards and
the other was to limit the dividends of the
bank, bringing the excess, beyond tile pre-
scribed amount, into the public treasury. In
the preparation of the charter, every sacrifice
was made that could be made, to accommodate
II, especially in regard to the branching power.
to the reputeG opinions of the President But
instead ormeeting us in mutual spirit ofcon-
citation, he fired, as was apt,y said by "a Vir-
gina Editor upon the flag Of truce sent from
the capitol
Congress, anxious 10 fulfill the expectations
OF the people, another bank bill was prepared.
III conformity with the plan of Bank sketch
ed by the acting President in his Veto message.
alter previous consultation between him and
some distinguished members of Congress. and
two lending members of his Cabinet. The
OIL was shaped in precise conformity to his
views, as communicated by those members of
Tie Cabinet, and as communicated 10 others.
and was submitted to his inspection after it
was SO prepared and he gave assurance that
he would approve such a bill was no par
ty to the transaction, but do not entertain
doubt of what state. The bill passed both
Houses Of Congress without any alteration or
amendment whatever, and the Veto was never
theless again employed.
1T is painful for me TO advert to grave oc-
cnrrence, marked by such dishonor and bad
faith Although the President, through his
recognized organ, derites and denouhces the
Wings, and dsowEs being one; although he
administers the Executive branch of the Gov
eminent IN contempt of their feelings and in
violation OF their principles and although all
whom he chooses to have denominated as ul-
ira Wings, that is to say the great body of the
wing party, have come under bis ban, and
those oil them in office are threatened with his
expulsion, wish not to say Of him one word
that is not due TO truth and to the country.
Will, however, say that; in my opinion, the
Wings cannot be justly held responsible for
his administration of the Executive department,
Tor the measures he may recommend, or his
failure to recommend others, nor especially
for the manner in which lie distributes the
public patronage. They will do their duty. ]
hope, towards the country. and render al rood
and proper support to Government but thew
ought not to be held accountable for his con-
duct. They elected him, it is true, but for A.
mother office, and he ,eaine into the present one
by lamentable visitation of Providence
There had been no such instance occurring
under the Government. If the Wings were
bound to scrunize his opinions, in reference
to an office, which no one ever shticibatea he
would fill, ne was bound in honor and good
faith 10 decline the HARRISBURG nominat;o, a