The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-11-29

made itself known TO the country In the VI"
GINA and Kentucky resolutions. aud through tn
administration Of Mr.. Jefferson. Fancylng u
self perfectly secure under the auspices oil Vn
| GINA Presidents, il afterwards slumbered 10
years. Bot the advent of the younger Adams
and the popular excitement then existing, rousea
il TO fresh suspicion and watchfulness.
| Much, however, had been done during It's re
pose which could not easily be undone' ana Y
found itself mos, in danger under Democratic
and highly popular Administration The DAYS
Of the tariff excitement and OF nullitiea'lon, ar!
well remembered; aud, IL Democracy gained
victory then, il was only through an ardoous and
desperate struggle, and not a few think that 4
received a wound through the Proclamation
which time has not yet healed. Southern DE
mocracy, at least, ceased afterwards 10 be ir'
umphanr, aud il was compelled TO satisfy itself
as il best could, with the assurances Of ptotec
ton given by "a Northern man with Southern
principles"
The war against the State Banks and thciI
currency, carried on during the last half Of MIR
Van Bur,n's administration was, in fact, an in
direct war against State rights, which, if lolera-
ted in the General Government, would place
other institutions, as well as the Banks, in
imminent jeopardy. The Banking system OF
the States may, or may not, be right in
itself; il may, or may not, be contrary 10
the spirit Of free institutions; but il is an in
stiiuton with which the General Government
has no right to NEEDLE, either for the purpose OF
destroying or forciby regulating. In chartering
banks, and authorizing the issue of paper cur
rency, the States trench upon none of the pre-
negatives Of the General Government. The
RICH, to issue promissory note, whether for
public circulation or for private purposes, Is a
popular right, which the Constitution does not
restrict, and which, therefore, the People would
enjoy unimpaired. but for the State Lesi,la-
lures. But the State Legislatures. generally,
choose to restrict the right, and confine the ex-
ercise Of it to chartered corporations, and hence
the present Banking system, which is the result,
not Of the assumption by State Legislatures of
power to issue bills of credit, but of the NUM-
cipal restrictions which they impose upon
popular privilege, which it is supposed would
otherwise be abused
But, according to the new lights Of Utraism
which began TO appear, at the time TO which
we allude, the Banking system Of the States
was an evil which the General Government
was bound to make war against and extirpate--
Among The expedents suggested for the pur-
pose was the proposition of Senator Benton to
employ the taxing power Of The General Gov
for the purpose Of regulating, or pro-
hibiting if necessary, the circulation Of bank
notes. This was a considerable improvement
upon the alleged right to impose prohibitory du-
ties for the purpose of protecting or encouraging
Ii is obvious that it would be
quite as constitutional, aud as Democratic, to
employ the taxing power Of the General Govern
ment, for the purpose of regulating or abolish
ing slavery. The abolilionists would rejoice
in nothing more than the establishment of such
precedenis, which would at once invest the ma
jority with full sway. and leave very few my Ste
ries in the Constitution for "Abstractionistsn to
wonder at.
That such a suggestion should have proceed
ed from Senator Benton is not at all strange
fore a devoted admirer Of Mr.. Clay and his
American system-as was the present editor OF
the pseudo-organ of the Democratic party. 1,
could not be supposed that such men would be
much troubled with constitutional scruples when
the object was to carry through party measure,
however sensitive their Democracy might be in
matters which concerned the distribution of the
loaves and fishes. Their test of Democracy
was not fidelity 10 the Constitution, but fidelity
to the head Of the party. But it is passing
strange that the evil counsels Of such men should
ever have been tolerated by a majority of the
Southern Democracy. An open triumph Of
Federalism. for a time, could hardly be so de-
structive 10 the integrity Of the Const tution as
wounds inflicted by proiessed friends, welding
the power Of the General Government.
In fact the more sturdy and vigiant Demo
Gratis Of the old school, at length took the alarm,
and began to desert the Administration in such
numbers as ultimately to produce its downfall.
To these seceders, known by the name of Con
servatives. and State-rights men, il must for a
time have been an embarrassing question whe-
ther il were better that the Cons itution should
be undermined by corruption and sacrificed by
negligence, or be exposed to the assaults Of open
and undisguised foes and no doubt, with many,
the embarrassment terminated in indifference
and apathy.
BY an unexpected dispensation of Provi-
dence, the administration Of the General Gov
eminent has since been committed to the guild.
ance of one Of their own number, whose at
tacbment to the principles Of true Democracy,
as taught in the school Of Jefferson, and whose
unwavcripg fidelity to the Constitution, are the
characteristic traits of his public life. His Ad-
ministration will at leas, have had the good eff
feet Of recalling the minds of the People to the
distinction between the old and new Demo