Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1858-12-16

DEMOCRATIC TEsrfM0NY.--The Louisville
Democrat gives the following testimony in
favor of the Presidsnt'sM ssNg.-
We are not surprised that t." editor Of the
Contemporaries the prot ctivcdnctrines Ofthe
Message. and the commend ltion of n bank
rrpt law: for these doctrines he has advocated
rhap@, in times past; hut he will hardly
specify tn item- h. approves. VIII he II
his al rs that h. approves the PreSid nt's
accommodation of sp ciflc duties, and his
undisguised pargiality for the old heresy of
protection? Will he inform his read. RS
VII ther he approves the accommodation of n
bankrupt law applicable t. backing institu
tons. We deny the power of Congress To
pass such a law. 1t would not be- general
bankrupt Laws. 20 the sense int 'nded by the
FEDERAL constitution. The vry pnrro,e of
such law, as explained 10y the President, is
not that of Il bankrupt law nj all. 1t is
designed to regulate the Currency, and may
be used To nulliiy the power OF the 5 ats To
charter banking Institutions and fix the con
diiioEs of their cXistenc'. Bat If Congress
bad the power its exercise l. ineXpa dent and
the execution of slcb q law impraciicablr.
The President. and thu administration
papers generally, may go off iato these anti
Democratic hercsies, but the mass of the
| Dem pcratic party will not follow THIN. We
utterly rcpudiat,d both these rCcommenda-
lions We have opposed such doctrines all
our lieves, and so has the Democratic party.
The Memphis AUaL,nche says:
That we concur in all the propositions and
recommendations contained in the message
| We are not pr. pared to admit. With Demo-
/ cratic con temporary, we must protest against
| the Presidents recommendation ot spec ic
/ duties IA substitute for the ID mOoratic
! priacple of al ral0rem imposts. In fact upon
! his own representation of the obs tacles which
imp d the successful operation of the tarlf
! OF 1857, We do not admit the necessity for a
| rvyIsiOu IF our revenue system. If. a. the
mcSSag" contends, the results of the tariH of
/ 1857 were intercepted by the revul>ion Of
that year, why not postpone any change ia
the present regulations amt their efficiency
! is strd by fairer experiment. The reply
j., that upon any possibility the revenue Of
the existing tariff will MOI b. adequate to
the expenditures of Government We answer
that SQUAD policy would suggerta temporary
provision Tor the deficiency rather than n
resort Ia sudd,n and frequcnt alierat ons in
a system OF Which the chief essential is
stability In operation. The CONNIE REAL enter-
prise OF the euantry IL jest bcgnaiug To
adjust It's calculations 10y the tsril OF 1851,
and any change in tle pr seat rats Of
impOsI would necessarily inlrndce embarrass
mrut aud cOafusion la the relations of trade.
llWould II not rather ''ihuoduc. emharrass-
iient and confusion" in the shaIn democratic
pariyI-PAr.l
but. If Il be determined that the public
exigehces demand an iLImvd ate reform ia
the financial system oI tn. Coz erameht. then
iet tuat reform %, accomplish ia accordance
with the principles at the Democratic party
We must take no back Nard e p. Least al
AL should Democratic Coagr ~ assent 20
restoration Of Ibe ,xploded hvresy al specific
duties. We understand upon What motives
of p"liey the sagg rtion was Submit. ii 10y
he TX -cat.ve; bat IL i bett,r that a partlcu
lar illietvst should endure tgmp,Tary depres-
siou. ritlar thaa ihs par agree 10 al
.6andonnent OF it, priacipl.s