The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-01-05
THE EXCHEQUER-A PREDICTION
VERIFIED.


can hardly be doubted hazirded the following
prediction
Were it worth while, upon question inv diving
considerations of so much higher import, to appeal
to mere party feeling we would take upon ourselves
to say that il is an incumbent duty of the Wings in
public life who have any regard to the ascend ency
of the principles which they profess to make at least
one more effort TO accomplish one of the chief pur-
poses for which they were placed in power by the
People. To fail in the effort, they have failed be-
fore, would be no disgrace. But failure to make
the attempt, when the whole country, and their po-
litca friends almost every where, imploring and
expecting them to make onward move, poud be
so tta as to subject the VA party to imminent
danger Of defeat anil oeer:hrop ,oten neri encounters
its aipersary at the polls"
The whole country is aware how signally thi,
prediction has been verified. The days of the
Wing majority in Congress are now numbered
and small is the number But few weeks
remain for them to give the People a tardy proof
that their proies sion, of patriotism not alto
gelher hollow and insincere.
The ate npt 10 throw upon the President the
odium Of their failure " to accomplish one of
the chief purposes for which they were placed
in pc YER" has proved as fruitless as it was un.
just Notwith standing all their diatribes, and
manlfestoes, and threats of impeachment, the
People have not been blind to the fact that with
the failure Of the first attempt of the Wing par
ty to accomplish one of the chief purposes for
which they were placed in poverty means
of 90 an old, fashioned National Bank"-the Pre-
sident had nothing TO do. That project failed
TO obtain the sanction of Wing Congress, Tor
whose sins of omission or commission the Pre-
sident is in way responsible. As TO the other
kindred projects miserable rlcketty con-
GERMS" 10 adopt the expressive language of the
Great Kentucky contemporaries denounced by
the most influential Wing leaders as unconsti-
tulonal and neticient-the President has met
all the responsibility which rested upon him for
their failure, and the result is that he is stronger
than ever in the affections of the People, while
his accusers have been hurled from their seats,
as if by reclamation.
There is barely time TO make final appeal
to the patriotism, better feelings and good sense
of the Wing party in Congress. Can their intel
ligence and political wisdom furnish them with no
other conceivable project for accomplishing
what many think the main purpose of Their be-
ing brought into power, than the impossible one,
of ian old fashioned National Bank ~ To use
the words of the National Intelligencer, "Can
nothing else be done Has human ingenuity
been exhausted by the experiments which have
failed} Is patriotism so easily baffiPd in IFS
purpose, orso wearied in the pursuit OF il, as
TO despair of success in any further effort either
to provide for the saie-keepng of the public mo-
ney, or to establish currency, not for the facii-
tation of commerce merely, but to sustain and
nourish enterprise and labor in every branch Of
industry, and in all the walks OF life 2"
Are the Wing party in Congress ready to
confess that, being unable to accomplish their
own favorite project in consequence of divisions
in their own ranks, the next best thing that
they can do for the People is to refer them to
the financial wisdom of their opponents, the ad-
yocates Of the Sub. Treasury system2
The discussions on the Exchequer project
have now made it apparent that the objections
to it are reduced to the single one, that it is dam
gerous. Dangerous "Why, that's certain ;
IT'S dangerous 10 take a cold, TO sleep to drink"
This objection has been urged TO every plan of
fiscal agency that has been employed or sug
gested-to an old fashioned National Bank
to the State Baak system, to the Sub. Treasury.
They are all dangerous-and so is every thing
dangerous which is clothed with great but use
ful and necessary powers. There cannot in
the nature of things, be any human power, any
discretion, which is not liable to abuse, and
therefore dangerous.
There was time, in England, when, If
there was no other way of running public
man, or great public measure, it was sufficient
to raise the cry of "the church is in danger ="
and the ignorant and pr JUDGED multitude never
stopped TO ascertain the why or wherefore
But free and intelligent People are not TO be
so operated upon. They require some little
evidence and argument
The opponents Of the Exchequer neither
agree with each other, nor are consistent with
themselves, in urging the danger Of the project
10 one breath they denounce it as an engine Of
portento6s gigantic powers-"d monstrous jug
gernaut, whose murderous car would make its
way over the necks of PROSTATE people" and,
in the next they ridicule it as a miserable abor-
ZION, with not vitality enough to set it in motion.
One grave Senator declares that he should "feel
much greater alarm in looking at this new scheme
of Bank, were it not that he believed in his
soul that, as financial measure, itswoud wind
up in six months" Yet he thinks, that by
means of it, an ambitious President would be
able "io spread unbounded corruption through.
out the community, to subsidize the venal TO The
purposes Of his ambition, and so to corrupt and
to impair the liberties of his country, that they