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The twenty-ninth Congress has thus their intentions, and cheating them of far been confirmative of those de their hopes. The whole bank interest mocratic measures, for the establish- and monied power—the vast combinament of which the great battle of No- tions of those who fattened on governvember, 1844, was fought, and there- ment bounties and partial legislation, fore contrasts favorably with that which with those who hoped for gain, and succeeded the disastrous issue of the those who cowered before the threatencampaign of 1840. The great war ing corporate creditor, pressed eagerly which commenced in General Jack- into the fight under the banner of that son's first term, between parties for bold and bad man, in whom was emprinciples and policies, was decided in bodied, alike in his political and perthe campaign of 1844 against Clay- sonal character, all that was corrupt, ism, with all its false and fatal heresies anti-republican and anti-democratic in of doctrine. In this hard-fought con- his party. They rallied in their fierce test, three times did the democracy energies, and fought with all the destriumph over their federal foes, who, peration which the fear of losing their backed by the selfish interests of a ill-gotten control of popular rights could wealthy few, and armed with all that inspire. Notwithstanding all the power looseness of construction in regard to of money, the skill and reckless authe Constitution which could torture dacity of the great leader, and the plain provisions for the good of the enthusiastic support of unscrupulous whole into exclusive allowances for the followers, an overwhelming defeat was advantage of the few, sought to change sustained by them from the body of the the face of our institutions by perpetua- people. The corruptions which had ting the distinctions of classes. The first become so deep-rooted, were not, howelection of General Jackson presented ever, to be at once destroyed; nor was a great and cheering triumph of the po one victory over so determined, sagapular will over the corrupt intrigues of cious and powerful an enemy as an allpersonal ambition ; and it signally pun- pervading monied monopoly, to be deished that great crime of the whig cisive in its results. The election of leader — the coalition. The corrupt Mr. Van Buren defeated a renewal of combinations of individuals to cheat the the attempt to carry the Presidency people of their choice of a President into the House of Representatives for being promptly rebuked, the second disposal, through corrupt coalition, by election of Jackson was for the preser- running three or four distinct candivation of the country against those dates, and thus preventing an election mammoth monied monopolies and cor- by the people, and collaterally assailrupt corporations which were already ing the principles represented by the encircling the liberties of the people, masses. In the mean time a combinarestraining their free action, thwarting tion of fortuitous circumstances was

slowly preparing the way for a re manufactures. This was the task ; newed and vigorous campaign on the and all of it that was accomplished was part of the oft-defeated but still pertina- the passage of the tariff. The indecious party composed of factions, classes pendent treasury law of the people and cliques, each seeking some special was, indeed, repealed ; but the prombenefit at the hands of the people.- ised bank was not forthcoming. The The wide-spread meshes of the monied distribution of the lands and the bankpower were producing their effects in rupt acts were passed, and speedily reruining those who had been lured into pealed by the same parties, with the the toils by the false and fatal bait of fearful haste of the necromancer, unexpaper credit. The derangement of the pectedly alarmed by the spectres he currents of business, produced by the had raised. For the promised payment destruction of those dealers who form of the debt was substituted the conthe channels for the interchange of pro- traction of twenty millions additional. ducts, caused by the collapse of the For the bringing the expenses within overstrained credits in which they had the revenue was substituted a large deindulged, was stagnating markets and ficit; and, to the infinite chagrin of the de pressing prices. The masses of de doctors, the exchanges became, without linquent bank-debtors, seeking to be a national bank, more regular and cheap freed from the results of their own in- than ever before. The patient procautiousness, formed a powerful aux vokingly recovered his health while the iliary to those who promised to all par- quack was making preparations to cure ties the fulfilment of their wishes, reck- him. The bigh tariff was indeed passless of right or constitutional means. ed, and, as if to compensate for failure The disordered finances and vacillating in other respects, a most severe dose of exchanges were a fruitful theme of protection was administered; so severe complaint to active and industrious men; that, in spite of the vast recuperaand a new bank was held out as the tive energies of the country, the elasonly means of restoration. The pains ticity of its resources, the untiring enand ills of retuming sobriety were to be terprise of the people, and favorable allayed by renewed intoxication. For seasons for the developement of agrieach and all of the multiplied evils that cultural wealth, the country has tarby a singular combination affected the dily progressed in its outward comcommercial world at the same time, the The product of that tariff to capacious saddle-bags of the whig the treasury has been, for the fiscal leaders contained a nostrum. Bank- year 1846, $846,197 less than in the rupt individuals were offered repudia- previous year. For the four years of tion; bankrupt corporations multiplied its operation the present tariff has procredits ; bankrupt state governments duced an average of 25 millions only the land revenues, taken from a de at a time of great expansion of the curficit federal treasury; and to supply rency; and its production has diminthe latter, taxes on consumable articles ished under the increasing stringency were to be laid, so high as to prevent of the money-market during the last the consumption. These were promis- year. This anti-industrial, anti-comed as specifics; and if, despite these mercial monument of the influence of sagacious laws, wheat still continued to the money power, with an increased grow and labor to bring forth value, debt, was all that remained to the nathose facts were to be taken as evi- tion from the results of the combinadence of the wisdom of the enactments. tion of 1840. The vigorous attack of The public mind, wearied with the a swarming, uns:rupulous and desstruggle, and temporarily weakened by perate enemy had shaken but not overthe reaction of the monied excitement, thrown the great principles, to estabconsented to employ the quacks. They lish which the three preceding vic

to pay the government debt, tories were, it seems, scarcely sufamounting to about five millions, when ficient. A disappointed and embittered they came into power ; reduce the ex- enemy again rallied to the conflict in penses to the revenue ; create a bank; 1844. Again was the ghost of a Naregulate the exchanges; pass a bankrupt tional Bank opposed to the Indepenact; distribute the public lands among dent Treasury. Again the distribution the states, and establish a high tariff to of the land revenues was offered as a replenish the exchequer and protect tempting bribe to tax-payers in embar

merce.

were

rassed states. Again was the protec- stood by the Constitution, to resist the tion of capital opposed to freedom of encroachments of the combined cliques commerce and industry; and also—the in whose path the constitutional veto progeny of defeated hopes in the last was so effective a barrier. They comcampaign—the abolition of the consti- bated for a repeal of the tariff, which tutional veto was declared for. The operates so unjustly in favor of capital desperate and reckless gamblers, foiled at the expense of labor, and so injuriin their designs, sought, in the madness ously on the federal revenues and comof their disappointment, to emasculate merce of the country. They contendthe Constitution by tearing from its fair ed for a restoration of the Independent proportion that invaluable veto, the ex- Treasury, and for the removal, by enercise of which had endeared it to re- hancing facilities, of restrictions upon publicans and democracy as it had em commerce. Faithful to the duties of bittered their opponents. Most truly citizenship, and confident in the soundhad the veto power of the Executive ness of our institutions, they responded fulfilled the expectations entertained of promptly to the fraternizing call of their it by the framers of the Constitution, brethren in Oregon and Texas. The as expressed by Col. Mason, in 1787, selfish fear that the stability of our goduring the debates as reported by Ma- vernment was proportioned to the numdison :

ber of acres it covered, did not deter

them from adding a new state to the “ He expected great advantage from it. Union, and extending territorial jurisNotwithstanding the precautions taken in diction to the shores of the Pacific.the constitution of the legislatore, it would Standing on the broad basis of the still so much resemble that of the individ- Constitution and individual rights—in ual states, that it must be expected frequently to pass unjust and pernicious laws. opposition to innovation and encroachThis restraining power was therefore es

ment, they conquered. The victories of sentially necessary:. It would have the "28, '32 and '36 were repeated in 1844. effect not only of hindering the final pas. The last crowning triumph was desage of such laws, but would discourage cisive, and perpetuates the principles demagogues from attempting to get them for which the previous struggles were passed."

undertaken. The delusive theories

and fatal heresies that were sought to One would suppose that the eye of be impresseå upon the policy of the prophecy had penetrated the succeed, country are forever demolished. On ing 53 years, and that our ancestral the present Congress devolves the great legislators had foreseen and applied a duty of restoring to the federal governcheck to the intrigues of speculators ment that symmetry of form and reguand demagogues in 1840. Some of the larity of movement necessary to the framers of the Constitution considered equal distribution of the national an absolute negative on the part of the wealth, and to the national policy that Executive as essential to the preserva- comprehensiveness of views and impartion of liberty. But hitherto the re- tiality of purpose, which recognises in quirement of a two-thirds majority to the most perfect freedom of individual overrule it, has sufficed to keep in enterprise the most active element in check the attempts of cliques upon the the national advancement; which looks rights of the people. The demagogues, upon the industry of one man in the in their discouragement from attempt- sphere of action where chance or choice ing to get bad laws passed, boldly at- may have placed him, as equally valutacked the veto power, and sought to able to the community, and equally remove that obstacle to their ambitious deserving of protection against oppresdesigns. The spell, however, had sion at home or abroad, as that of others passed. The hollowness of their quack- to which a meretricious importance is ery had become apparent. The pub- attempted to be given through the delic mind had recovered its tone. The signs of politicians or the cunning of very desperation of the partizans who capitalists. announced the provisions of the glorious The task of the American people for Constitution as obstacles to their de- the present century, is clearly to take signs, aroused public attention and start- and occupy the northern continent of led the inert. The democracy of the America. Its plains and valleys, its country, which embraces the people, rivers and mountains, with their great

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