The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-02

cItleN tfat gave their support 10 Mr. Ducnandu, DC
cause they expected that his election would give
confidence TO the business community, render its
gains solid, and its adventures successful ~ VIII
scarcely assent to the wisdom OF disturbing tarH
passed by votes given without distinction OF party
not yet year old, and the operation OF which not
yet known. II will hardly be guilty oil the ioiy Vi
wasting its time and getting up prohtless disseh
sions in its own ranks by lending countenance 70
the yagaries of those politicians OF past generation
who fondy hope for the Redistribution Of national
| bank.
The non-slayeholders Of the country have been in
suited brow heated prescribed ~ ine
| feed. Territory dedicated to free labor mas oeen
wrested from them in violation OF good 1aitn, ana
opened by violence TO slaves Doctrines repughantto
liberty abhorrent to modern civilization dcstruc
tive to the highest interests OF the country ana IN
| consistent with the stability Of the Union, have
been forced upon great party In the Tree States
sanctioned by a majority of the Judges OF the SUI
preme Court and accepted by the present admins
fFation which stands openly committed to their en-
forcement. At this hour the oligarchy has more
complete possession of the federal government, a
more eflectua control Of its policy than at any for
mer period. From its past usurpations we know its
future policy, even were its organs silent. But it
wears no disguise-it has thrown of the mask. Wha
il by the repeal of all restrictive regulations
against slavery, and by the enuncation Of the doc
rne that the constitution of the United States car
ries slavery with it into all territory now existing or
to be hereafter acquired Is not SO much to obtain
possession of Kansas to facilitate its gradual Occur
patton of the continent Southern and South
western border. This constitutional principle, as it
styles it, being established will of course secure sa
very in Cuba and in any other Territory that it may
| be able to annex hereafter to our Union.
This being the policy, these the doctrines OF the
slave power and its national democratic party the
course of the republican party Is very plain one
IL will resist and put down that polcy-it will de-
nounce and overturn those doctrines-it will not dis
continue its organization or action till 1t has placed
the federal government in all its departments on the
side of human liberty and made the Union what the
/ tnfi nj cd Should he n the
establishment of justice and the extension OF Tree
institutions. II seeks no sectional strife, but when
one section of the Union attempts to elevate
the sectional interest Of slavery to the rank and
power of a supreme national interest it will not be
deferred by the senseess clamor about sectonalsm
from arraying itself against policy so deestable and
ruinous. II will not regard with indifference any
public interest neglect wise measures to advance
it; but it will not revive obsolete questions or seek
| to disturb that policy in reference to trade and
finance which the country, when undlstracted by
passion anxiety, has agreed upon. Its first great
duty to meet and decide those issues of slavery
| presented by the slave power and its instrument
/ the so-called national democracy"
from the National lntellgencer (od line whg) Oct 81
| THE EVIL AND THE REMEDY
The reader will find under another head in to-day 8
| Inteiigencer a number of selections from our con-
temporaries of the public press. all relating more or
less Immediately to the financial evils of~the time
and the remedy for them that has been suggested by
repeated and dearbought experience. Certain jour
| mails of another complexion, might have been
| expected, have seized upon the present occasion to
| wage a crusade against all banks and against every
species of paper money. There is nothing easier,
| and, unfortunately nothing is more congenial to
| many, than thus to indulge in vague and idle
defamation against institutions which, with all the
evils that now attend their existence must still re-
/ main of indispensable necessity to the trade and
business intercourse of the country 1t is not I'M
likely, however, that in so FAR as financial questions
may hereafter up for popular consideration and
debate public opinion will be found to osciate be-
tween the issue presented, on the one hand OF ma
| tional bank which shall serve as a conservative
regulator Of monetary affairs and the deiusive
| chimera of hard money currency the other
| which shall be established on the ruins Of our pre-
| sent banking system.
This latter alternative being clearly impractical.
| BILE, since none can suppose that all (h any OF
| the States in the Union will ever consent to re-
| nounce the banking privileges they have so long
enjoyed and exercised, il would seem that the expe
dent of a great central regulator presents at
| the most feasible, as, under the circumstances It
would certainly prove the most immediate and eff
Gent agent for the establishment of currency at
once uniform and stable. The jacobinical camor
| against all banks and against all paper money"
will be sbortved as It is senseless insomuch that
| unless some conservative measures be taken such as
| we have indicated in common with many of our con-
temporaries of different political faith we may ex-
pect that the admitted defects in banking sys-
tem under the operation of the same public econo-
| my which now prevails, will in the end, bring about
a recurrence of the same reyerses through which we
are now passing The absurdfy Of destroying insti
tutons because Of defects which we are competent
| to remedy would be apparent in any other depart
ment Iof human thought except politics. in which
passion and prejudice are often found more potent
| than reason and experience.
IRON the Baltimore Patriot, Oct. 20
| ANATIoSAL BANK AND A PROTECTIVE TARIFF.
sn "a Oq tbs snS sns
conrse of nearly all the banks in the United States,
ocoasioned by the tyrant's Plea-nece~ity-wil
make deep, lasting, and an indellibe impression
| on the minds OF the American people. 1t i to he
deeply regretted that, amidst all the wonderful dis
coveries of the nineteenth century, real and imsgi
nary, many OF our merchants aud bank directors
are still obnoxious To the charge that Lord Chatham
once hurled at Sir Robert Walpoe, namely, that Of
being ignorant in spite Of experience. Severe Ian
guage this 10 be used In an English House OF Com.
mons But II u not too severe to be used In refe.
to the present caamities Of our beloved coun
try. brought upon il by unprincipled spectators;
and 70 say the least Of it, unwse and unsafe drec-
tors Of our banks. love Of wealth. or rather de-
sire TO be immensely rich, has preponderated over
| good morals and love Of knowledge.
What i the remedy Simply to trace effects to
causes. In the days Of the Father OF his Country
had national bank, with capital of ten millions Of
dollars; our population was then about three mil
lions of inhabitants. The Revolutionary debt was
funded: national credit established firm basis;
| the public revenues were honestly collected and
faithfully distributed; not dollar OF II lost when de-
| posted in hank signed by the immortal Washing
! ton. After its continuance for twenty years the
| charter expired. II was not renewed. A PROPOSE
ton was before the Senate OF the United States for
second NATIONAL Dank; ~ lalea Dy the t-tihg vote
| Of George Clinton the then Vice President Of the
United States and President OF the Senate. In Isl
all the State banks suspended specie payments with
| the exception of the banks Of New England. To
| their immortal honor be il spoken, suspension in
that land Of steady habits took place; their paper
al that time being twenty per cent higher than the
paper OF the general government itself our country
then being at war with Great Britain on account Of
the tyranny aud injustice Of the latter towards the
| United States
Necessity says a great author. like truth, Is
superior 10 rule" The public men Of that day had
sense enough TO the necessity for another ma
tional bank and patriotism enough to grant a char.
| ter therefor Tin lsl6) during a period Of twenty
years with a capital oftwenty millions, II we remem-
Der rightly. The shinplaster system, with al its
denominations, soon disappeared. Able statesmen
| said we had then the best currency IN the world.
Twenty years rolled on other pubic men appeared
| in the councils Of our country; large importation
Of foreigners, good bad and Indifferent, nterminged