Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1843-03-23

i " aShlngtOn In the Presidential Char,
and MIR Jefferson succeeded Mr.. Adams
as Vice President. The administration
LOT Mr.. Adams, without tire support Of
Hamilton, proved unequal TO sustain the
i perminancy Of the party to- which he
i (Hamilton) had so successfully contribu-
ted. The quasi war with France, and
the alien and sedition acts, which were
j attacked with such force Of reason by
the Virginia and Kentucky resolutions.
land Madison's report. turned The ti'le Of
popular opinion again st the administra-
/ ton. "A revolution followed, which
brought the Republican party into power
in 1901. with MI. Jefferson at its head.
With all his ability and ardent desire to
reform the Government, and give it TIE
/ direction which the trainers Of the Con-
stituiion intended it should take, MI
JeHlr,on found it impossihlegentrely to
succeed in his proposed reform. Ham
/ iltou had done his work too etfectuaIly to
have it undonc. but through long pro-
cess of time. jefferson did much to
bring back the Government within the
limits of the Constitution. lie could not
accomplish ali he desired. lie greatly
reduced the expenses of the Government,
introduced economy aud accountability
in its disbursements. Topped off useless
expenditures, created all efficient sinking
fund, and reduced the public debt about
one half in the eight years, during which
he administered the Government. But
about forty millions of the debt still re-
! NAMED. and the bank, and the connection
uf the Government with the bank, still
continued. Its charter outIiyed MIR.
Jellerson's administration, and prevented
the bank from being touchen during his
time; while the connexion of the bank
Ing system with the Government had 50
mixed up itself with all the business OF
the community, as to prove to be too
strong for present severance.
MIR. Madison succeeded Mr.. Jefferson,
but such was the condition of the foreign
relations of the country during his admi-
nistration, that the great WORK OF the re-
I formation 0f the Government and the re-
storaton of the Constitution, begun by
his predecessor, was suspended. The
restrictive measures, commenced by the
preceding administration, wei followed
! by war under his. The debt was swcll-
ed to about Sl5o,0OQ, 900. The Baaks
suspended payment. followed by such
confusion in the currency as to, force on
his administration the re-estauiishment
of another National Bank, believed to be
at the time the only means of restoring it
to sound condition. while the duties
on imports were greatly increased to dis
charge. he public debt, and to meet the
increased expenditures of the Govern
mcut. These were evils incident to the
war, just and necessary as it was in its
origin, and successful and honorable in
( its termination. The war ended in 1915,
and Mr.. Monroe was elected two years
afterwards to succeed MIR. Madison
During his administration, much was
done to correct abuses growing out oi
war, and to re-intrOduce economy and
accountability in the public expenditures.
Great progress was made in the reduc-
ton of the public debt, but during his
administration powerful party under
Mr.. Clay. grew up, in favor Of a high
protective .garta, and of carrying ont
practically the Interpretation TO the mo-
ney power originally given by Hamilton.
He succeeded in passing the Tariff Of
1924, the first, prolessedly framed with
, view to protection exclusively, without
regard to revenue, and which may be
, considered the first step towards rearing
up the superstructure OF that so called
! American System, whose foundation had
been so solidly laid by the first Secreta.
~ of the Treasury.
: The younger Adams succeeded TO the
Presidency, with Mr.. Clay as Secretary
of State. he came ia on the American
/ Susten,, and thus, at the end of twenty
, -four wears, from the election OF MIR. JEFF
/ ferson, the old Federal principles and
5 policy of General Hamilton were full,
restored, and extended farther than he
/. HAD ever been able to carry them. The
! reaction was now complete against the
: principles and policy oil Mr.. Jefferson
: The accession Of Mr. Adams to powel
: was followed by the Tariff Of l820,whicl
. raised the duties SO high as TO be nearly
equal in amount to one half of the value
, of the entire imports. That measure
MARKS FiiC ShttSutC ~ "HAS' eiA>
f system has yet been carried.
The election Of Gen. jackson follow
!, ed. and then succeeded in rapid success,
, sion the final discharge Of the debt, the
passage Of the Compromise Act, the over.
: throw of the Tariff of 1928, the Removal
of the Deposiies, the expiration of the
t Bank Charter without renewal, the u.
!. nyersai suspension OF payments by the
Banks in the first year Of The admnis,ra
, ton Of his Successor, Mr.. Van Buren
land, in consequence, the actual scpara
t hton of the Government and the Banks
: by means Of The joint resolution of 1916
j and the subsequent existing Legislation
BY the combined operation OF all thes'
: important events, the system originally