The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-03-08

In our paper of yesterday presented brief review
of the eminent which have attended the foreign
policy of the late administration Let now notice as
succincty as possible the trumphs of peace that have at
tended the domestic policy which was pursued by the able
statesman who has just Surrendered the reins OF govern
men and retired to the shades of private life In order
to give clear understanding of this portion of our sub
ec it is necessary to refer to the presidential canvass OF
1884, and the issues which were then submitted to the
people The advocates of two great principles OF con-
stituona construction then struggling against each
other Mr.. Clay the leader OF the forces OF the
wing party They conended for such an Interpretation
of the constitution as would give to the federal govern
ment almost unlimited powers The power to create
national bank to distribute the proceeds OF the sales OF
the public lands among the States to levy duties for pur
poses OF protection and the revenues thence collected
to carry out gigantic system of internal improvements
this power declared by the wing party to be not only
within the scope of the legitimate functions OF Congress-
but its exercise was demanded with eager clanor as vi
tally necessary promote the prosperity of the country
and save its great industrial pursuits from speedy ruin
The first effect of such rule of Interpretation, had been
adopted would have altered the relations established be-
tween the State and federal by the farseeng
and sagacous founders of institutions 1t would have
radically changed the theory of federatve system Its
practical operation was calculated to build up around the
federal head system of affiliated interests, owing their
existence its creative power and constrained to sustain
it, no matter what its usurpaons might have been. The
treasury would have been deprived of the fund which
was derived from the sale of the public domain This
would have made necessary to derive all
from burdens on imports The immense amounts TO be
expended in gigantic schemes of internal improvements
d,,tio ha
imposed, while the national bank, controlling the re-
sources of the government and the commerce OF the
country, would have extended immense facilities to the
manufacturing monoposis, already guted by the pro-
lection rendered necessary by the distribution of the land
fund.- and by draining the public exchequer for local and
sectional improvements.
What unpreiudced mind does not at the
alarming tendency of such combination OF interests
welded together by sodd motives, and banded together
against the independence of the States, and the great
aborng interests of the country They would neces-
sarly cling together one body. They could never
oppose any of the encroachmens OF the federal govern
ment nor could the federal government ever desert them
1t might not have been long before the States weuld enter
into combinations conciihe the favor of the central
col ossus and with their landmarks obterated and their
pride subdued there might have been danger that they
would oppose resistance to speedy change to con-
sodated empire.
Against system of this description, fraugh
with evil in every feature Of it, the democratic party
arrayed with James K Polk its leader The people at
the ballot box pronounced favor of the party and the
man and remained for his administration, by carrying
into successful operation all the constitutional and repub
can measures required by the crisis, TO break up the
wing combinations, and establish foundations
the prosperity of the country Every that this
was an arduous task, and many ridiculsd it vain
and idle effort The opposition then had full faith in its
own system of public policy, and believed that its own
measures could alone confer good and not evil, on the
people A national bank regarded as absolutely
necessary regulate exchanges, to supply the wants of
commerce, and to perform the financial operations OF the
government; while the independent treasury was con-
demned ruinous TO trade and unequal to the task
of collecting safekeepng and dsbursng the public
nues. But Mr.. Polk failed not aliered not for one mo-
ment He gathered around him counselors OF great ability
Neither he nor they men TO be moved from their
purpose by sinister orebo ings With the cooperation
of the republican members of Congress, specie was
quired in payment of the public dues, the Independent
treasury was enacted and the separation of the govern
ment from banking corporations rendered complete
Every effort, indeed, made to create alarm among
the merchants and capitalists, in order to cmbarass the
new system and procure its repeal But the effort
speedily thwared by the satisfactory and successful opera
ton OF the system foreign was forced upon the
country before her had fully adapted itself to
the new financial policy which had been adopted, and
even its friends were not without apprehensons from
this violent and unusual onslaught; while its enemies
predicted with confidence its speedy and overwhelming
overthrow Yet James X Polk did not fail falter for
one moment. Time wore on. Our armies penetrated
farther and deeper into Mexico yet the independent
treasury misunderstanding every exigency prompt
w. and making the unusual disbursements required
by the war in foreign country with safety, econ
omy and despatch. Yet this not all. There
came across the waters from the Old World tdngs Of
revolution and commissions France, Germany, and TIA
y were shaken the centre, and England herself
partially sympathised with the continental CONFUSION
The of Europe was paralyzedalmost destroy
ed yet with there scarcely ripple on the sur
face All was calm and serene and our commerce flow
ed on unobstructed in its accustomed channels Had
Bank of the United States been then in operation who
does not see that different spectacle would have been
exhibited Its stock would, TO great extent, have been
in the hands OF foreigners, and necessity would have
forced il to have commercial facilities, not to form en-
tangnr alliances abroad The first revulsion in France,
in Germany or in England would have been felt like
electric shock in America Confidence and credit would
have vanished The bank, too, would have previously
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