The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-11-14
CITY OF WASHINGTON.
TUESDAY MORNING, NOV. II Is4s.


The National lntelligencer of yesterday morning
claiming all the while 10 avoid all crude and boise
s,ultation the election of General Taylor md >,
write with the chastened feelings of revere osI
h,de" foreshadows follows the view which win =,
aiken BY that portion OF the wings, for whom il .ueaks
NJ the democratic policy that has pr walled in ,h
for the last twenty years. We ouy ia article somewhat
al length show to the de- ocracv Of The country wba
they are to expect IN tbs very probable event of General
Taylofs adminsa turning OUT at least at its start
be ring acco dng the pattern of the National Intel
lgeDcer
go ourselves we confess that when we look back al
b long of evil consequences which have flowed from
those elections which gave asccndeney the
principles and the aggressive, bsligeren procrptive
and Jacob of the selstyed democ ratio pa
and them with the pacific just patriotic tolerant
and prime pies Of the whs party which have
now signay iumphed, we regard the result of con
test feelings akin to those which fill the DO SONS
omen who have Just escaped from a CITY overwhelmed
by earthquake The antagonist principles good and
evil were desperate conflict dark and portentous ff
,ure awaited the triumph of the bright and cheer
ing prospect is opened by the victory of the other Let
however, look in detail at what have escaped ON
the one hand, and what we Fave gained on the other
General Cass the damocratic candidate, was the sup
porter Of the existing administration, and stood pledged
carry the policy of all the democratic adminstra
ain making the business of the country--de.
nounong the very foundation of commerce, and invoking
bankruptcy and ruin upon all who trade credit the
vital element of all trade in free governments,
SIN making the currency Of the country by the
establishing OF the subreasurythe system Of the dark
ages and of despotc governments only-and giving one
kind of money for the government and another kind for the
people.
''In making the industry of the country, by
using all protection and exposing ii the petit
lion Of the pauPer labor of Europes as "a
yin denying the government any constitutional authority
apply public money to public provcnent in deny ing
TO it in fact almost every attribute Of good and narrowing
functions almost the sole powers of taxation and
"In applying the executive laws the sautary
aud assuming for the President the right and duty of mega
living bills upon motives of expedicncy, and arbitra
ly setting up his single opinion sufficient warrant for
multiplying the will Of the people expressed through their
representatives; 4...H-s IN Ul-s.
in bringing existence the anti. social principle OF
prescription, converting the power OF appointment into
cruel and yrannical engine Of rewards and punshmens,
and administering the government the slavh doctrine
that to the victors belong the spos all alike detestable
aud at war with the genius of free government"
The "war" which the democratic policy has made
upon "cedt" and upon the currency of the country
has consisted in not permitting the public money to go
into the general business of banks, and be made the
basis of bank discounts and circulation in refusing
charter bank; and in keeping the government
money the government treasury, to pay its debts
specie In this way this war" upon credit and
rency has enabled the have coined the
mint more specie within three years of the present admin
istration than was coined during thirty seven previous
years. to negotiate its loans all through period of dis
liant and most successful largely above par and to
pay among the people, and thus nfuse into the gen.
ea circulating medium of the country in the course of
the three years, larger amount Of specie than
was paid out by the government during fty-seven
years previous from the foundation of the government
All these facts ascerained and put on record in
official report of the committee of the House of Repre-
sentaves Public Expenditures at the last session OF
Congress This war; upon credit and currency is now,
IN the Inegencers judgment, to stop; and the fair in
ference is that in the view of that journal are to go
back again to the bank era Whether it is to be ma
dona bank the sympathies. and principles and habits
OF the wings distinctly Indicate or system of de-
pose State banks which are to have the public money
to trade upon, we not yet informed Time is yet to
solve that problem. That point will probably remain in
doubt little longer-perhaps until General Taylor has
formed his cabinet But that the bank paper system is
in some form to be sadded upon us, and be bloated
out upon the money of the government lodged in bank
vaults, longer be doubted if the Intelligencer's
word for it can be relied on Be it So if so it must be-
We are again ready to 20 to the people that issue.
1t will hardly be denied, in the face of past experience
that such return to the wing system of finance must
again expose the country to tremendous fluctuations in
Its commercial business The banks trading on the pub
lie funds will first expand their circulation to most
unhealthy extent, and then fate will come, first
agenera curtalment, and then general crash Another
bankrupt law will again probably be invoked it
before by the whgs to wipe out old scores and quietly
transfer to the pockets of adventures and spectators the
money of the honest laborers and business men of the
country whom they will have robbed and ruine1!
We deem it proper, in connection with the prospect
upon this matter of currency which set before u.s.
to requote the following language of Mr.. Webster. 1t
will show at least where he STOOD whatever may be
the course he may now deem it proper to pursue in
pulling down the hard money system of the constitutional
treasury and substituting for it the "fsca agency" of
bank paper!
In speech in Congress delivered in 1916, Mr.. Web
s,er said
1t was a mistaken idea that about to reform
me national currency. No nation had currency
man The United States-there nation which had
guarded Its currency with for the trainers of
the constitutions and those who enacted the early statutes
on The subject, were HARDMoNEY they ad felt, and
therefore duly appreciated the evils of paper medium
ney therefore sedulousy guarded the currency of the
united States from dcbasement The legal cureacy of the
oned States gold AVID silver cola this wa, subject
IN regard to which Congress had run into folly"
in aspeech delivered in the Senate of the United States
IN 1882, Mr. Webster said:
''oF ALL coNTRIvANcKs FOR CHEATING THE LABOR