The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-09-29

Of the wing party; and if occasion should require
they caf and ,ciu il all other efforts fail to bring
their party to its senses crush any presidential can
ddate, however powerful his name, or majestic his
stature, who shall enter the arena AZ the champion
A MARYLAND WING.
Sept. %, ls45.
For the Union.
ALABAMA POLITICS.
II has given many good democrats in Alabama
much regret to find that various republican papers
out Of the State, including your own, have misap.
pretended the issues involved in the recent contes,
for governor which resulted, as your readers are
advised, in the election of Chancellor Martin over
Col. Terry. am sure that it will give you pleas
ure to learn that Alabama, far from having departed
from her ancient faith, is still sound to the core upon
the subject of national politics; and that the recent
election turned upon domestic issues involving the
preservation Of the faith and credit of the State,
without reference the affairs Of the general gov.
eminent.
The whole difficulty has arisen out of past egisn.
ton during the year 1887, and since that time Till
then, our banks were In sound and prosperous con-
don; but during the two sessions Of the legislature
special and general held in the summer and winter
OF 1887 the State debt causelessy increased by
the issuance Of State bonds to the amount of seven
million five hundred thousand dollars. Debtors 10
the banks were allowed an extension of three years
on their existing indebtedness. The new loan was
obtained for, and applied to- the increase of our bank
ing capital, and the directors were commanded by
statute to lend out the aboyenamed of money
to applicants from the several countless according to
population, in sums of two thousand dollars. Bor-
rowing of course became popular, and was resorted
to by an immense number-so much so, that the
State became controlled absolutely by her own
debtors.
The extension law of 1887 worked badly, losing
to the State nearly million Of dollars per annum;
but the bank debtors in l840, blind TO the expe-
rience of the past, procured another extension OF
five years on the amount of their liabilities. Ifyou
ask how such legislative enormities were possible,
it only be replied that TO speak in general terms)
the majority Of the leading editors Of the State, as
well Of the general assembly, and also the bank
directors themselves, were largely indebted to the
banks, either principals sureties; and this state
Of things existed up TO the session of last year.
to all except bank directors. The banking system,
popuarzed by the abolition of State taxes; and
the State government, in this way, was made sti-
pendiary Of the banks. .,s
By the extension law of 1910, bank directors were
authorized to collect not srceedng oenty per cent per
annum of the bank debt. Under this statute, they
assumed a discretion below this maximum; so that,
in the winter of 1874, large amount (in round
numbers, fourteen millions of dollars) appeared to
be still due, of which seven millions were regarded
as lost the State In the winter Of 1884, the egs-
ature under the active opposition of the bank debtor
party, enacted that suits should be commenced on
all debts due the banks where one-third was not paid
up by the LIST day Of June, l845; and that parties
who paid up one-third by that day might have time
on the balance for period Of twelve months ensu-
ing &E
Col Terry was one Of the members of the SEN
ate who protested against the passage of this law,
on the ground that the requisition Of onethird
exorbtant and unjust, and recorded his protest on
the journals of the Senate. He was at the head oil
the bank debtor party in the legislature, and owed
That party, like the one opposed to It, was COM
posed Of wings and democrats indiscriminatey, and
each seemed to have forgotten all old party names
and distinctions The bank debtor party was in the
minority.
The convention which met in May, lS45, com.
nitted the yatlr pas Of nominating for the chief
magistracy the leader Of minority party-the bank
debtor party-composed, as ! said before, of both
wings ard democrats. Both wings and democrats
who composed the dominant party in the State,
were Immediately arrayed against him. The con-
vention was charged to have been the mere machine
of those who desired further protraction Of bank
collections. There were many exposed points on
which il was attacked with facility 1t was charged
to be an unfair exponent Of popular sentiment. Only
thrty-one out of the fifty counties in the State were
represented in it. A new rule Of apportonmsnt had
been prescribed by Of the late legislature,
which was the occasion Of a CONC al apathy among
the people. Only twenty-five counties were repre-
scented by delegates in person, and the whole dele.
cations from even these counties did not attend.
They were entitled TO seventy-two votes, and only
sent forty-seven delegates. Six counties voted by
letter, and all for COL Terry. OF the other twenty
five, seventeen gave their entire vote for Colonel
Terry. One other county gave him one-half,
and one other one-fourth of its entire VOTE SIEVE
raj of the members of the convention retired in
O. ~. A.
was made known, the public hostility broke out like
torrent, and swept down the barriers Of party dis
cipline. The people ,could not stand Il; they had s
po,cer in their hands, and they determined 10 use IT,
They felt that to elect Col. Terry, was to coune.
nance past abuses, and invite their continuance; and
the consequence was revolution, in which they
showed themselves to be in advance Of the press and
the politician To carry out fully the last law they
were resolutely determined; and, for this purpose,
chose 70 rely upon one Of it's original advocates
That gentleman was Chancellor Martin, on whom
all eyes seemed turned, by common consent. He
then discharging on his circuit the duties of his
late Office. He was well and favorably known as
firm, long-tried and consistent democrat through
out the State; had resided many years in North
Alabama; had represented with ability the Lime
stone district in Congress; had filed various other
important Offices, and had unequalled popularity.
He left Congress voluntarily, at a time when no
man in his district could have given him respecta-
bio race for the Office. His moral character was
untarnshed and his mind strong and well cutiva-
ted. 1t was only after numerous and most pressing
appeals, backed by public meetings of the most de-
cided character that for the sake Of his country he
was induced to run. He placed himself at the head
of those who demanded the payment ofthe debts
due to the State, as the only means of paying the
debts due by her. The wings of some counties
violently opposed him, and took the stump against
him, in aid Of his democratic opponent. II was no
question of whiggery and democracy. 1t was re-
newal of the old contest between the privileged few
and the unprivileged many--between the image-ma-
kers and the indicators Of ruth--between men and
money;--and the men, as they always are when the
issue is fairly made, were successful.