The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-02-24
THE GLOBE-EXC HEQUER BOARD" PA
PER MONEY PARTY"

The Globe of Tuesday evening, in an aru-
Gle headed g The paper money party" is pleas
ed to include US in that category With all due
Difference 10 it, we do not select it for our spon-
ser, nor will we submit to bear name unless
we are convinced that we can justly claim il
What we will not usurp we will not suffer TO be
forced upon US.
We are not the advocates Of an inconveruble
paper money; we are not the advocates OF
general currency, whose soundness is Deepen
dent on the 1uctuatng credit and resources of
corporations Of individuals; we are not the ad
vocates of National Bank
Though we are the friends Of paper curren
cy issued by the Government, not merely as All
instrument of temporary expedlency, but as
matter Of general policy, we yet cannot under
stand how the Globe can, with any propriety,
OF consistency, attempt to atfix TO title
which it deems odious. If we merit the appel
lation, some are united with Us whose company
we trust will, in the estimation of the Globe,
remove part, at least, OF the opprobrlum at
tached to the defence Of Government paper
currency Mr.. Madison was its friend; Mr..
Calhoun its avowed advocate and its policy
was, more than once, suggested by MIR. Wood
bury Mr.. Benton-ls far as our brief memory
of political history serves us-has been, we be-
lleve, consistent apostle IN theory, OF the hard
money system but W are of opinion that all
those associated with him as political allies vo-
ted for the issue of Treasury notes. Diheren-
ces of opinion may have prevailed in relation to
the character these notes should bear, and the
intent with which they should be issued to bring
them within the pale Of the Constitution but
vet the great mass of the Democratic party vo-
ted for paper money. The odium which the
Globe endeavors to cast on US must recoil on its
own friends.
The mere sanction of the issue of Treasury
notes cannot in consistency with the opinions
hitherto held by the Globe, oe considered JUS
ti6caton of applying the name of spaper-mo-
ney party to any set of men. Otherwise, the
whole party-with very few exceptions--of
which it has been for years the organ would
be indisputably obnoxious to the title
twill be said, mo doubt in replication, that the
Treasury notes issued so repeatedly during the
last Administration were but temporary expe-
dency, and were in the form of loan That
some Of them bore an actual interest and were
consequently in the form of loan, we do not dis
pute; but that large amount ofthem bore merely
nominal interest, and consequently were in
tended to mingle in the streams of circulation /,
and that the authority for the issue was renewed
with this knowledge by the democratic ma
jority and without any restriction as to the'mini
mum interest, is equally well known. Moreo-
yer, not only did the practice prevail of issuing
paper money without interest, but the practice
was, BY some, earnestly advocated on the ground
that il would furnish sound and uniform cur
rency.
But the cutlery against Government issues IS
not only inconsistent, il is unwise. Ii 1t Is IN
tended as signal for the parties to rally on the
old strictly defined hues ofdisncton ii is tanta
mount to declaration, that no matter how long
the disastrous condition of the country may be
protracted, we care not. No remedy for the evil,
whatever the probability il may give relief, shall
be tried, unless that remedy be our own.-
Though it may possess all the virtues boosted
by the one our skill has discovered, yet if i.