The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-02-25


issues old and new, of their opponents The contest Tor
the presidency will soon commence and we expect to-
find every democrat in the State at his post ready when
our nominations made at Baltimore, in the language
OF old chiefain of the Hermitage, to Push on the
column"
From the Pennsy vanan.
The Whole Federal Creed overheard.
Hon William Cost Johnson-we. known of
the most thorough ederasts Of the day. and as partlcu
larly hostile to the principles of the democratic party-
one Of the ea4nS and It Is ca%ed ahs ana
fearless if discreet and sagacous LEADER and there
be little doubt that he has the to enforce what
ever views he may entertain On TUESDAY last tins ds
tinguished politician made long speech al the great
meeting in favor of Taylor, held at Military Hall, IN the
city of New York. and have read it with good deal
of interest
AT present. when the federal party properare seeking to
place General Taylor in partisan poson-indeed when
they refuse to have anything to do with the old hero
less he assumes their peculiar principles and nnurs thelI
peculiar banne-under such circumstances the speech OF
Mr.. Johnson assumes importance which might no,
otherwise attach to his individual opinions. And it is
with this view that we commend 1t to our readers, and
especially to our opponents, as production full OF re-
markable interest
By the extract which we print in another part OF to-
days paper it will be that Mr. Johnson deliberately
throws overheard the entire federal creed including the
bank the tariff distribution, and opposition to the veto
power He himself confesses himself to have been alto
gether in the wrong in the course he has heretofore taken
upon these questions Mr.. johnson is not the man to
make this confession without full understanding of the
ground upon which he stands He has been too init
matey connected with the Tay movement from the
rst not 10 feel that any Unauthorized declaration OF this
sort would seriously damage the cause he Is anxious to
maintain. Indeed the very defence that he makes OF
General TayloIs silence certain delicate questions,
and the cunning plea that he sets up IN exenuaon OF this
silence, render his own frank disclosure OF opinion
sort OF announcement catedra from the General him
self Under all the circumstances, the speech which he
has seen fit TO make will create profound sensation In
all our political circles
This is the view which only connects Mr.. Johnson's
confession of error his course heretofore upon great
public questions, with the course that General Taylor
hereafter pursue the same questions if the political
lottery shall declare his ticket to be entitled to the pres
dental prize. There Isl however another aspect in
be consideredand that s the striking tribute which ii
pays to the policy of the democratic party.
For years, have this policy subjected to fierce
and an emoeed opposition For we have
resented, and arrested by some OF the abes men IN the
nation. Hundreds and thousands of honest and upright
citizens have been taughtto regard the democratic party
the author of these measures, party bent upon the
ruin of all enterprise, and the prostraon of all credit
By that party the white wings of our boundless commerce
were to be imprisoned and clipped down-by that party
labor to be robbed and runed-by that party society
vast be made of disorder and violence and
entire political fabric to be undermined by the seeds
Of fast-coming dissolution, planted by the hands of an
impetuous and unreasoning democracy. Mr. Johnson,
like many others before him. has doubt endorsed and
repeated these serious accusatons but he has lived long
enough TO his theories and his predictions dsproved
y, the efficiency, the justice, the moderation and the
consummate wisdom of democratic principles, as carried
out by the democratic party of the present day.
While, however. we cannot avoid paying this compli.
ment to MIR. Johnson, who doubt speaks the sent
ments OF many of those who have heretofore acted with
him, should by no means expect, of the
sequences of his confessions he spoke for all his
former friends the breaking up of the opposition organ
zaon Many OF the voters may leave the old party, butt
the leaders and the poison of reckless and unscrupu-
lous antagonism will remain Deprived of all their
nf
upon which to standhey will content themselves with!
their favore position of assang the and the
men of the democratic party. Barren in the watchull
patriotism which originates great measures TO suit the|
pursuits of our progressive people, they will await the!
exlgency OF some panic in business, some naonalI
catastrophe and ride into power upon the shoulders of
some fortunate accident for themselves and their spos
men.
Whether Gen. Taylor will place himself in the hands
OF such faction, we leave for himself and his peculiar
dainty assured that while the democratic party is stead
fast in its support of the great principles of IFS faith and
while these principles daily vndicaiing and strength
ening themselves, in the face of the bitterest as
saults, no expediency candidate--no availability how
ever popuarwill be allowed to bear off its time hon
ored banner.
Extract from the speech of Mr. I'm. Cost Johnson
When first started went for every question upon the
Of tho United atesor the whole beast with its seven
heads and ten horns Then again was in favor OF ds
Them ALSO in favor of abol shng the veto power of
the President. Then, Also was against removing oneI
from office by the Executive unless by bringing charpest
against the person. be approved of by the Senate
United States also in favor of tariff, high or low
or anything This the old wing platform But, II
have grown older, | have grown wiser. | do no'f
admire the nan whose head is like pop-gun, which,
when has shot in it, that is out he has noy
other idea in his brains.
Now let me, for a moment examine n little the bankf
quesuoh bank OF the United States urged beng1
ind,spensabiy necessary chiefly the ground OF ex
ehanse.' It was urged that the exchanges and thel
country, were going infallibly to be ruined without
u bank OF the United States. thought so once myself
but the bank has gone to the tornbs and Daniel Web
ser preached its funeral ornon when he
such bank to be an "obsoete idea TApnarso AndI
now how is 1t with the exchanges We have f,nnd|
that they regulated according the rulc and
lations of commerce. New York. this mighty rich enI
splendid emporium OF yours-a city which controls an
regulates all the of America-she has ,anyhI
better and deepe lessons in the principle of
and banking, than have been taught by all the no
clans OF the country As have grown older we In
grown wiser also and believe there merchant
banker mechanic, single individual doing business
ia New York. who thinks that bank necessary hi
pa rpose but taking step further in the sound principles
of currency they ali believe that it is itself
which regulates the exchanges and not the bank, (crie
OF Good, good.") The exchanges have always been
favor of New York, perhaps, during last year.
or it may be this year, when The Mexican war has drawn
the of business New Orleans, and has caused
exchange be about per cent in favor OF New Or
leans But bill of exchange less valuable than bale
We have found that the best bill Of hange
md believe there Is no man now who wants 70 dig up