The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-08


reduced the ebt-dseountenaneed the bank and
| tarif-by the appointment of democratic function
| aries-by the influence Of his principles, his exam
pie, and popularity with the people, purifying Con-
gress and thus he put the government upon the repub
lican tack But the germs Of the Hamiltonian sys-
| TEN, nurtured by British influence, sprouted up
| under his successor The bank, although yanquish-
ed in the struggle for renewal IN the commencement
| of Mr.. MadIsOn's administration, triumphed before
its close; and this may be said To have been the
greatest conquest made by England for Its partsans
10 this country, and its subjects at home, by the war
ofl8l2. The treasury, under Mr.. Monroe, fostered
the institutions and while the President contested the
| constutonality of the internal Improvement sys-
| TEN, combination of the bank and tariff interests
which looked to perpetuity in the perpetulty Of the
public debt, gave that system strength IN Congress-
and in the sections where II was held out bait
The coalition OF Messrs. Adams and Clay reinstated
the policy Of Hamilton in all its parts To build up
the bank and the funding system, surveys were or
deTed which prepared for the expenditure OF two
hundred millions Of dollars in roads and canals; and
a manufacturing monopoly, entrenched under new
and exorbitant tariff, gave much TO to It's Priv-
legged capitalists, under the name Of protection as
came into the treasury in the shape Of duties. Feel
ing secure in the power of all these sordld influences
the old federal dynasty rsripsd did not hesitate TO pro-
claim the representatives Of the people that they
| should mot be passd by The GiH Of their eonsht-
| usnis. The incumbents in power had been adhe-
rents 10 the administrations of Mr.. Madison and
| Mr.. Monroe; and in concentrating the sche me
which was TO make the meretnary prevail over the
popular influence, only finished what had been grad
| uay and lmpercepubly growing up under the con
niyance of many who, like themselves, preserving
the name Of republican, had nevertheless in aid Of
their professions awaited themselves of another
influence in reaching aud securing power. Hence
the silent acquiesCenCe in the stealthy approach OF
the British system, denounced at the threshold by
Mr.. Jefferson, but which became so sturdy by the
| A a claim
again, as under Hamilton, the American system"
and up for an independence that de6ed the will Of
the people
When General Jackson obtained the presidency,
| he found the government thus metamorPhosed-
a machine 10 strip The GbOring millions Of part u their
earnings 10 pdpsr greedy auaries aud corrupt dIbi-
ton As soon as General Jackson reached the
| presidency, all the mercenary classes were ready
to receive him, they had done others raised to the
chief magstracy by the democracy, who were viii
ling to be passive, and permit the government to be
an ally of their policy. All the charges on which
| he was arraigned by federalism before the election
were Instantly dropped, and the military chiefian'
might have had the verdict of federalism against IT.
| self and had throughout his two terms the happy
unanimty which that grateful party always yields
| when invited to an amalgamauon with installed
power But Gen. Jackson resolved at the hazard oil
his ease and of an overthrow which would have for
feed the fame with which the uninterrupted successes
of long life had crowned him, 10 do right "a
the people. He resolved TO bring back, by prdcti-
cal reform, the simplicity and proby OF our nsutu-
tons. He encountered at once the antagonists oil
liberty and equality. He resolved to abolish the
bank and its paper money, which suppIanted the
| treasury and its coin He resolved TO extngiush
the national debt and The funding system which rest
ed He resolved to put down the protective Sy'-
tenn, which taxed the food and rament of the people
to 6l the treasury Of capitalists, while II cut oh
from the treasury Of the nation its proper supplies
| IL Iya1 he I'M
provement system, which, while il was destined TO
roll up an immense national debt, infused corrup.
ton throughout is course. General Jackson aeeon,
plished all that he proposed and all that Nh Jefferson
sighed for in rain. The reclamation Of the country
attended his glorious civic trIumphs, as it had done
hi, military achievements. The man who had
been his bosom counsellor in every step throughout
his administration to restore the ascendancy OF dem
ocratic principles-who had, with single hearted
zeal seconded with all his fac ntes and weI-carned
political influence, every bold measure OF the uncom
promising democratic reformer was elected his sue
cessor 10 confirm his work. Mr.. Van Buren,, tc
complete the delieverance of the government from
all the parasite systems of federal origin, proposed
the independent treasury. This great measure wa
designed to make absolute the divorce OF banks from
the treasury-to restore the constitutional cur
rency-to put end TO private speculation upor
public capital and redeem the people from the usu-
nv to which they were subjected through the means
the money xtorted in from their own pockets
Its hold on the government Of the Union being thus
broken, federalism fell back upon the State govern
ments and infused its corrupt influence into thou
counses. The Bank of the United States, unde
the advice of the political leaders it accustomed
ri to consult, corrupted as many members OF the Penn
sylvana legislature to bctray their constituents, as
united with the federal minority, would give tn
corporation the command Of that body. 1t then die
tated charter, embracing both the foreign and do
mestic stockholders, renewed all its privileges as
> State institution, and thus set up with its immcns
Il capital foreign connexions, and national credit be
gan the career which designed to bring the pol
Il icyof federalism which had been expelled from the
:, general government, to bear on the State govern
, ments For this purpose it entered into conspiracy
with thousand local banks, and, in conjuncteI
with them, the federal party in each State gave tn
L impulse to the eXtravagant system OF internal I'm
provements which has produced so much lnsoIven
cy il ran the States into the headong policy OF ne
goating loans to carry on undertakings not prompt
ed by existing exigency, and far beyond their ex
listing means 1t became the instrument OF selling
the State bonds in foreign markets, and making
e foreign capitalists allies in the political struggle II
), which the banking institutions and their par
o ty associates were engaged, Finally, to max
the spirit Of speculation universal, the cour
try was flooded with bank paper, and ind
u vlduas everywhere followed the career of the State
J. in ccnceving projects, and contracting great debts
1t 1t was contrved that the consequent nsovcnc!
u which threatened on all sides, should be brough
n with its panic to operate the presidential cleo
;, ton of 1910. The banks, the foreign fundholC
Is crs, the Spectators and all likely to be affected
II any way by the impending bankruptcy, concentrate
e their powers TO defeat the candidate who 1t wa
IS known would oppose the resuscltation OF the e9
1t hauscd paper system, by surrenderng the resou
;; ces of the governmen-who would oppose the cr
g. alton of another national debt by the assumption
Is the State debts-and who would oppose the yioIa'o
N of the constitution in the abrogation Of contracts
re IA voluntary bankrupt act The efforts of all thet
nc classes aud others that obeyed the impulse OF al
a. cient federalism, trumphed over the democracy.
OIL the one side was the skill of disciplined army: tn
,c democracy were then an unframed militia.
0. The Democratic Association Of Washington cit
a. warned by the disaster, organized to considerab
extent the strength Of the party through affiliated 81
ol Cietes Although imperfect, this organization col
w ~ r'bued much to the success Of the democrat
as cause IN the last general election This organzatic
sc ought to be carried into every State in the Unto
rs and perpetuaed. .4sSocaitd pealth only be a
rested in its strides to absolute power by ASSOCIATE
Us labor. He is the master, who can appropriate Il
10 labor Of another at will. The slavery of EuroT