The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-11-08
From the ST. Louis (.MO.) Old School Democrat
MIR CLAY

The following extract from editorial of the asst
LOUIS new sra" oil yesterday, is a sample OF III,
coolest political mpudence we have ever seen from
the pen OF a modest man like him Of that print
1.-THE judicous Loco Focos see in this condition OF
things little hope for the defeat of Mr. CLAW
and they are fast becoming reconclcd to the Ger
tainty OF his election Some OF them, like honest
and worthy men, even exult at the prospect of being
beaten by such a statesman patriot a " hole
souled and chivalrous American a man with mind
enough 10 take IN The irhofe country, and to apply all
his energies to secure its prosperity and its honor al
home and abroad
Democrats fast becoming reconciled TO the election
Of Mr. Clay Exut at the prospect of such a man
beating them lie patriot! Whew! When be.
fore was that man called patriot a whole-souled
! and chYalrous American" who would rather The
country should sink, and all its interests be sa.
crlhced, than yield ot title on the question of
the power Of Congress to charter a National Pank.
and force its branches into the States when h, him
SELF IN 1871, had furnished the Democracy of the
country an rrefutabe and unsnswerabe argument
against that power lie patriot and whoe-soul.
ed American" 10 refuse permission 10 the several
States to accept or reject branch Of a National
Bank, when the commerce Of the country was TO be
annihilated-hc manufactures in all the land TO be
shut up-and every branch of industry and enterprise
TO be destroyed UNLESS, ay UNLESS, by some means
the currency could be regulated !!
And pra, good Mr. " Patriot and high-souled Anne
rican,' do you not think Bank with branches il,
twenty oil the twenty-sN States could have furnish
ed and regulated the currency Could not the Tx.
chequer have done it, To go further, Mr. Patriot -
has not the issue Of Treasury notes and the pro
per and legitimate, natural and safe course of
trade and business regulated exchange already >
The issue Of four five mil ions Of such notes in
the ordinary transactions OF government and cspcci-
ally II issued IN small denominations. and made re-
deemable at our great commercial emporium on
sight, and also receivable for lands and customs The
issue, we say, OF such amount would furnish the
country with the best and readcst means of exchange
or remittance that be devised Nor can the most
daring demagogue find ground to stand upon and az
sail thus constitutional, interviewing time honored
but imp oUed mode Of transacting the financial bust
ness OF the government, and at the same time Incl
dentally giving the people the means Of remittance
from point TO point throughout the whole country
Treasury note thus redeemable is in effect no.
thing more nor less than dra1 from the government
upon lis depository, which the holder, for his own
convenience, pays away to his creditor rather than
draw the specie for and lug to the place where he
has occasion TO use it,
II remains IN circulation just long as the people
find IT more convenient to handle and transmit than
specie, and when finally it reaches the hand of one
who wishes TO hoard up the silver for his posery TO
squander H. IT is redeemed at sight according 10 lis
tenor. Thus IS thrs simple plan made Efficient for
good, without the power of mischief 1t is no bank
for It does not hoard up lend and hence it has no
power. Indeed, the people have unlimited and unre-
strained power over this currency and can return it