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iNAiWJ 0AHOiOus wv ttphi "uiNh ehC Oth
or, adhering TO the administration, had so
greatly departed in practice. As soon as
/ saw this state Of things, ] clearly per-
ccivcd thaia very important question was
presented for our determination, which
we we're compelled to decide forthwith
shall VIC continue our joint attack with
, the Nationals on those i'll power, in the
how position which they have been COM
PEELED to occnpyi 1t was clear, with our
Joint iorcess, we could utterly overthrow
and demolsh them, but it was not less
Clear that the victory would inure, not TO
US, but exclusively TO the benefit OF our
allies and their cause. They were the
most numerous and powerful, and the
point OF assault on the position which the
party TO be assaulted had taken in relation
70 the hanks, would have greatly strength
ened the settled principles and policy OF
the National party, and weakened in the
sane degree, ours. They are, Sever have
been, the decided advocates OF National
1ank, and are now in favor Of one with
capital so ample as TO be sufficient to con-
troll the State institutions, and to regulate
the currency and exchanges Of the coun-
try. Tojoin them with their avowed object
in the attack to overthrow those in power,
would, of course, not only have placed the
Government and country in their hands
without opposition, but would have com
mitted US, beyond the possibility of extri-
To hon nd oh nn NJ.
ty in the ranks Of the National Repubi-
cans. The first fruits of the victory would
have been an overshadowing National
Bank with an immense capital, not less
than from fifty to hundred millions,
which would have centralized the curren-
ry and exchanges, and with them the
commerce and capital Of the country, in
whatever section the head of the institu-
ton might be placed. The next would be
the indissoluble union of the political op-
ponents, whose principles and policy are
so opposite TO ours, and so dangerous to
our institutions, as well as oppressive to
JUS.


Such clearly would have been the in
evitabe result if We had not joined in the
assault on those in power, in the position,
they had been constrained to occupy; and
he must indeed be blind, all past expert
ence must DO lost on him, who does not
see that so infatuated course would have
been fatal to US and ours. The connexion
between the government and by necessa-
~ consequence, in the hands OF that par
ty, have led 10 renewal of that system of
unequal and oppressive Legislation which
has impoverished The staple States, and
from which we have escaped with such
peril and difficulty. The bank, when
united with the government, is the natu-
raj ally of high duties and extravagant
expenditure. The greater the revenue
the more profuse the disbursements, the
greater It's circulation and the more ann
pie its deposites, This tendency on the
part of that institution, and the known
principles and views Of policy Of the par
", would have co-operated, with irresisti-
ole force, to renew labor, with an aggra-
vation OF its oppression far beyond any
thing we have ever yet experienced, and
thus the fruits Of all our exertions and
struggles against the system would have
been lost, for ever lost.


BY taking the opposite course, the reverse
Of all this viii! follow, four State Rights
party be but firmly united and true TO
their principles. Never was there be-.
fore, and never probably will there be a.
gain, so fair an opportunity to carry out
fully our principles and policy, and to
reap the fruits Of our long and arduous
struggle. BY keeping the banks and the
government separated, we effectually pre-.
vent the Capitalization of the currency
and exchanges Of the country at any one
point, and, Of course, the commerce and
The capital, leaving each to enjoy thai
portion which, its natural advantages
with its industry and enterprise, may
command. By refusing to join our late
allies in their attack on those in power


where they have sheltered themselves
we prevent the complete ascendancy o


the party and their principles, which


must have followed, and gain the only op
portunity we could have of ralying anew
the old State Rights party of 1897, OF
the ground they then occupied, as an op
posing power, to hold in check their oIc
opponents. the National Republican party


Il would also give us the chance of effect


ing, what is still mo,e important to us


The union Of the entire South. The south


ern division Of the Administration party


must rc-occupy the old State Right,


ground. They have no alternative, anc


unless we, who have so long and under Sc


many difficulties adhered TO it, shall nov
desert our stand, the South must be uni
ted. IL once united, we will rally rount
the old State Rights party, in every sec
lion, all who are opposed to consolidation