Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1848-03-22
The Whole FederaI Creed Dyerboard.


The Whole Federai Creed Overheard. /
= Hon. = " illiom Cost Johnson--well
known as one of the most Thorough federal-
ISIS oil the day, and as particularly hostile
10 the.pfincples of the democratic party
is now one OF the Leading, and, i, is claim.
ed, confidential friends Of General Tay lor:
He made a long speech at the great Taylor
meeting recently held at Military Hall, in
the city OF New York, from which an ax-
tract we copy below. in which he throws O.
yerboard the whole list of the long cherish
ed doctrines Of the federal party. as4 e..
The whole federal party, whether in ia.
yer or opposed 10 the neminasion OF Gene.
raj IT Fay yIor, have noe been slow in scaaiua.l
ing and proclaiming that he was "a good
whig," and the old hero himself has, upon
several occasions announced that he was
whig, though not an ultra one, and that if
the whig party saw: fit to cast their votes
for him, they must do SO without any pledg.
es from him. Gen Taylor has sufficient,
sagacity TO see that, year after year, and
us the principles of the democratic party
| withstand the test of experience, and rs the
country prospers and increses in wealth.
and power under their benign influence, the
principles Of the federal party become OBJ
noxions to the people, and one after nnoth-
er become "obsolets;" and that rallying
upon the old platform Of the federal party,
and going into the contest with an open
avowal Of those principles which have dis.
tinguished them as party, certain defeat
is their portion. Many of the leading men
of that party, too, are becoming convinced
that it is unsafe to go into the contest with
Il manly and open. avowal of principles,
and they go for any man, making the only
question that of eavailablity," and relying
alone upon their assaults upon the demo
cratic party, and their power to work up a
belief i'll the minds of the people that the
country is on the downward road TO ruin
in consequence Of the ascendency OF dem
ocratic measures, rs their means Of success.
lfMr Johnson speaks as the oracle Of
Gen Taylor, proclaiming his political SEN
timents, there can be doubt that the Gene
raj is anything but an ''ul,ra" whig,or that
his views but lily harmonize with those
which have in times past been the distin-
gushing principles of the federal party.
Extract from the Speech Of Mr.. VIM. Cost
Johnson. u
IVY hen first started | went for every
question upon the old platform of whigism
was once in favor of Bank Of the Unit.
ed States-for the whole beast, with its sew
en- heads and ten horns. Then. again,
was in favor of distributing the proceeds of
the United States land offices. Then, al
SO, was in favor Of abolishing the veto
power Of the President. Then, also, | was
against removing any one from Office by
the Executive, unless by bringing charges
against the person., to be approved Of by
the Senate OF the United States. was al
SO in favor of a tariff, high or low, Or any,
thing. This was the old whig platform.
But, as have grown older, trust have
grown wiser. | do not admire the man
whose head is like n pop-gun, which, when
it has one shot in it, as soon rs that is out,
he has no other idea in his brains.
snow let me, for moment, examine
little the bank question. 4 bank of the
United States was urged as being indispen-
sably necessary, chiefly on the ground Of
exchanges. |, was urged that the exchan.
,ges and the country, were going inhallibIy
to be ruined without bunk Of the United
States. thought so once myself; but the
bank has gone to the to,abs, and Daniel
w ebs,er preached its laneraI oration, when
he pronounced such bank to be an s'obso.
lete idea" fApplause And now how is
it with the exchanges? We have found out
that they are regulated according to the
rules and regulations Of commerce. New
York, this mighty, rich, and splendid empo-
rum Of yours-a city which controls and
regulates al. the commerce OF America
she has taught US better and deeper lessons
in the principles OF currency and banking,
than ever have been taught by all the poll
ticians ofthe country. AS we have grown
older, we have grown wiser also; and be-
lieve there is..notsa merchant, banker,
mechanic, or single individual doing bu-
siness in New York, who thinks that
bank is necessary for this purpose; bat
taking step further in the principles OF
currency, they all believe that it is com.
merce itself which regulates the exchang-
es, and not the bank, (cries of Good. good. y
The exchanges have always been in favor
of New York, save, perhaps, during last
year, or it may be this year, when the Mex.
lean war has drawn the current Of business
TO New Orleans, and has caused exchange
to be about one per cent. in favor of New
Orleans. But bill Of exchange is less
valuable than a bale of cotton. We have
found out that that the best bill of exchange
now between New York and Liverpool is
bale of cotton; and | believe there is no
man now who wants to dig up from the
grave, and disinter from it's tomb, the old
and decayed Bank of the United States; and
confess, for my part, and Go not wish,
with General Taylor,a gain TO see the bank,
with its marble columns and tessellated
pavements, and all its weight and trappings
thrown agnin upon our shoulders. Again:
twenty years ago, was an advocate Of the
distribution Of the proceeds of the public
lands | looked upon them as a trustfund
which belonged to the whole United States.
But the last Congress has pledged the pro-
ceeds of the public lands to the subscribers
for the public loan; and am in favor of
upholding and supporting the public credit.
Now, then, that being the case, cannot go
any longer for the distribution of the pro-