New-York daily tribune., 1843-04-25
Loco-Focoisn-principIe rs. Practice.

Loco Foo Principle Us. Practice.
The Legislature Of New-1ork Just ADJOURNED
was elected under the auspices of Loco-f focoIsm
and with the expectation 1t would seem lTDPossl
bic to doubt, that the principles set forth as Dem
ocratic in our dav should be its rule action
How has that expectation been realized
Loco Focoisn insists that any connection OF
Bank and State is at war with Republican
Purity and Freedom, and that Revenue should
be collected expressly in coin, kept IN CON III the
hands of Public Officers, and paid out in com to
public creditors, carefully eschewlhg all Banks
and Bank paper Yet the Revenue OF New-York
rs at this moment collected IN Bank Notes, depos-
tied in Banks, often loaned 90 Banks, and not ,ln
frequently lost III Banks. 1'ae relations between
our State and her Banks Is Just about DIS IN
timate and complex as possible Yet not one Of
the ll3 LocoFoc Members of the Legislature
has even proposed Divorce of Bank and State ;
WHY not, if the party believes what 1t pro-
iesses
The Iadip,dual Liability of Stockholders IN
Corporatons for all the debts of those Corporations
respectively is another Of the cardinal principles,
or rather professions. of Loco -Focoism Ii is held
I'D as a measure of the most obvious justice,
safeguard against Bank frauds, and something
which no disnterested man can hesitate to pro-
nomce both right and cxpcdient. The Wings are
reproached with hostility to tins salutary prlnci
pie Well we have now had two successive
Legislatures Loco-Foco IN both branches and
the latter backed by Governor OF like precious
=. t,l,l
ing individual Liability ? Nol,lng No one
has even proposcdit With Legislature, Execu
tive and Judiciary all of the prolesscd Loco-toco
School, there is not man among them all topro-
pose tina, Bank Stockholders shall be liable for
Bank debts!
Freedoa,o Of Trade in Money has been another
war-cry for years, and the overthrow OF all Csury
Laws demanded as measure OF relcl from ms
chevous restrictions founded on the most absurd
and ahtiquated prcJud,ces. To this end, bil!
was actually reported modifying the usury Laws.
but going no farther than many advocates o these
Inws-we among the number-werc Wiling TO
concede. But even this bill was not pressed to a
vote in either House
Free Trade as opposed to Protection, Is ano-
ther cardinal principle of Loco tocosm Yet
not a word of tins is whispered IN the Legislature
by our Members elected upon AN anti larlft
camor; and neither the Governors Message at
the beginning nor the Legislative Address at the
close of the Session. though each travels all over
creation for topics, has SINGLE word 10 say III
condemnation of the tariff.
So of Ward Equalization, and many other
themes of Loco Foco appeal III our popular con
tests. Why are these utterly forgotten or dis
carded as soon as the struggle is and the VIC
tory gained 1t is made matter OF grave com
plant against the Wings that they pressed their
measures too eagerly and obstinatcly when they
obtained power in the National Councils. We
think it credtable to them that they did SO, since
they thereby proved that they were III earnest, and
really believed their measures were calculated to
relieve and benefit the country. But what shall
we say OF party which clamors for the adoption
of certain measures as a means OF tobtalnlng power
but iorgets them the nomen, II Is attained Can
those who do this be homes, VIII The Piebejaa
explain
Iyr We see it confidently stated that the Tyler
Collector of Customs at New-OrleanS is de-
iaulter to the amount OF one Hundred thousand
dollars The late Van Buren, Postmaster at that
place proved !, heavy deiaultcr-Wc mus; have
New. Orleans moved farther Oft from Texas.
The locality is full of temptation.
There never was but one way OF keeping the
Public Money in which every dollar deposited
was sure to come out dollar when wanted.
That way was by 4 National Bank.