The Madisonian

POLITICAL

The intelligent and consistent editor of the Cincinnati Republican, in his paper of the 14th ult., published the following cogent reasons for separating himself from the loco focos and their miserable doctrines. The noble stand which this editor has taken, in spite of the lamentations of the Richmond Enquirer and the denunciations of the 'party' press, is in the highest degree creditable to his good sense, his integrity and patriotism.

So early as the fall of 1835, we were placed under the ban of the loco focos of this State. Even at that period, this journal was marked for proscription, by the self-constituted managers, and wire-pullers of the party, and up to the eve of the Presidential election, was pursued with vindictiveness and rancor.

Our motives were misrepresented and attempts were made to destroy our influence with the democratic party. It will be recollected, that the right to repeal incorporated institutions, when there had been no violation of charter, was then contended for by the agrarian and levelling portion of the democratic party.

War! uncompromising against vested rights by the Globe, and re-echoed by a hundred kindred prints; and the institutions of the rich and powerful State of Ohio, were selected as the first victims to these odious doctrines.

The first blow was struck in this State, and against an incorporated institution of this city. A bill was introduced in the democratic Legislature of '35 and '36 to repeal the Ohio Life Insurance and Trust Company. This startling movement, struck with amazement and alarm the reflecting portion of the democratic party. But was advocated by the loco focos—the present supporters of the Sub-Treasury scheme, with extraordinary zeal.

The administration papers throughout the State, with few exceptions, obeyed the edict from Washington, and commenced a furious assault upon the Trust Company, and those interested in its management. The Globe gave the war whoop, and the blood hounds of radicalism were unleashed from their kennels. It was decided that this Institution, for the reason that it was most assailable in consequence of its extraordinary powers, should be first immolated to appease the offended deities of the modern Molochs, the high priests of the loco foco mysteries. This accomplished; the principle established that a State may violate her faith to her institutions, by depriving them of the rights and privileges derived from her, the way would then have been clear, for the destruction of The Pennsylvania Bank of the United States, and for a general and sweeping overthrow of State currency, the banking and credit system. We viewed with alarm, these attacks upon the institutions of our country, and moved by the impulse of an honest belief that we were performing a sacred duty we owed to the democratic party and to our country, we took ground against the doctrine of repeal. We disclaimed, for Mr. Van Buren, then a candidate for the Presidency, and for the democratic party generally, principles so repugnant to reason, honesty and the character of our Government. For this, our motives were impugned, and our democracy questioned. We were denounced as a traitor to Republican principles, and stigmatized as a bank bought Judas. We were accused of having been bought up and influenced by the Trust Company; and then, as at the present moment, designing radicals were officious throughout the country, laboring to destroy the influence of this journal. Nevertheless, we persevered in our hostility to the destructives; and were triumphantly sustained by the democracy of the country. The attempt to repeal the charter of the Trust Company failed; and thus the blow aimed at the credit and character of the State fell harmless.

As the Presidential election approached, the loco focos preached peace and reconciliation, and proposed a burial of the tomahawk. Most cordially did we accede to the proposition. They disclaimed any designs upon the institutions of the country. They said their object was merely to test the principles which the question involved. It had been tested and they were satisfied. We shook hands with them. We co-operated with them in the State and Congressional election. We supported a candidate of their own choice and selection for Congress. But the elections were scarcely over, before the war upon the banks was again renewed. The President was urged to adhere to the Specie Circular. A Sub-Treasury scheme was proposed—an exclusively hard money for the Government was advocated—and, what to us was most mortifying, the President of our choice—the man in whom we had so much confided -and who we had labored to elevate, sanctioned the destructive measures of the loco focos.

He embraced principles which we abhor and condemn—and which we shall continue to oppose so long as we live in a free country and in the enjoyment of our faculties.

We had opposed the loco focos, in their hostility to our moneyed institutions—and their hard money chimeras, before the election of Mr. Van Buren. We were not to be deterred from again raising our voice against similar demonstrations. after the election, because they were sanctioned and sustained by the Executive. Neither were we disposed to abandon the administration because of its policy upon the currency question. We supposed that the course of Mr. Van Buren had been dictated by a belief, that a majority of the American people were in favor of the measure, and that he would be sustained by his country. We thought his course an honest but mistaken one—we looked upon him as one who had been caught in the toils of a heartless, reckless and unprincipled faction.—Men who would sacrifice him, and their country, to promote their own aggrandizement—Men who have nothing to lose, but every thing to gain by the success of their destructive principles.

We entertained the hope that Mr. Van Buren would be governed by public opinion, and cut himself loose from loco focoism, and tear himself from its embraces. The result of the elections, all over the country, furnish proof that the people have resolved not to have the Sub-Treasury to rule over them—but neither the victorious shouting of the whigs, nor the mournings of his disconsolate friends, make any impression upon his senses. He said in his message, that the popular will was the supreme law—but that law he has thus far, held in utter contempt. The people, thousands of whom, having become alarmed at the fearful encroachments of radicalism, at the late elections, either looked on as indifferent, though sorrow-stricken spectators, or openly as a choice of evils, joined the whigs, have been charged as bank influenced or bank bought. We have never escaped the charge, though we have never acted with the whig party, nor ever voted the whig ticket. Disregardful of the prosperity and success of the Democratic party—blind and apparently reckless as to the consequences of this ill-fated measure, deaf to the warnings of his eldest and best friends, he clings to the Sub-Treasury like the strong swimmer in his last convulsive agony.

In the fond and just expectation, that the ultra measures of the President would be abandoned after the strong demonstrations of public condemnation at the election, and after hearing the earnest remonstrances of his earliest friends, we have been, in common with a large portion of the democratic party, disappointed. We are now convinced, that he intends to sink or swim with his favorite measure. That he will sink, it requires no prophet to foretell.

The Madisonian predicted rightly, when it said the Globe would be Mr. Van Buren's winding sheet. We were not far out of the way, when nearly a year ago, we said 'there must be a change of councils and measures,' or the administration must go down.' What was prophecy then, will soon be history.

Towards Mr. Van Buren we entertain no unkind feelings. We contemplate his course more in sorrow than anger. We part with him, because we cannot longer give him our support, and perform our duty to our country at the same time. As it respects the expediency of running three candidates for the Presidency, we have nothing to say at this time,— Our hope is that Mr. Van Buren will, before another year expires, have his eyes opened. That he will be convinced of the hopelessness of his chance for a re-election. and that he will decline. In that event, there may be a re-organization of the democratic party, and it is not improbable that the editor of the Enquirer and ourselves will come together again, and fight the good fight under the broad folds of the Republican banner.