Democratick Editorials: Essays in Jacksonian Political Economy
By William Leggett
Ten years after Thomas Jefferson’s death in 1826, an outspoken young editor in New York City was reformulating and extending the Jeffersonian philosophy of equal rights. William Leggett, articulating his views in the columns of the New York
Evening Post,Examiner, and
Plaindealer, gained widespread recognition as the intellectual leader of the
laissez-faire wing of Jacksonian democracy…. [From the Foreword by Lawrence H. White.]
Translator/Editor
Lawrence H. White, ed.
First Pub. Date
1834
Publisher
Indianapolis: Liberty Fund, Inc. Liberty Press
Pub. Date
1984
Comments
Essays first published 1834-1837.
Copyright
Portions of this edited edition are under copyright. Picture of William Leggett courtesy of United States Library of Congress. Original contains the inscription: "Engraved by Sealey, from a Painting by T. S. Cummings, N A." and includes Leggett's signature below.
- Foreword by Lawrence H. White
- Part I, 1. True Functions of Government
- Part I, 2. The Reserved Rights of the People
- Part I, 3. Objects of the Evening Post
- Part I, 4. Reply to the Charge of Lunacy
- Part I, 5. The Legislation of Congress
- Part I, 6. Religious Intolerance
- Part I, 7. Direct Taxation
- Part I, 8. The Course of the Evening Post
- Part I, 9. Chief Justice Marshall
- Part I, 10. Prefatory Remarks
- Part I, 11. The Sister Doctrines
- Part I, 12. The True Theory of Taxation
- Part I, 13. Strict Construction
- Part I, 14. Legislative Indemnity for Losses from Mobs
- Part I, 15. The Despotism of the Majority
- Part I, 16. Morals of Legislation
- Part I, 17. The Morals of Politics
- Part II, 1. Bank of United States
- Part II, 2. Small Note Circulation
- Part II, 3. The Monopoly Banking System
- Part II, 4. Uncurrent Bank Notes
- Part II, 5. Fancy Cities
- Part II, 6. Causes of Financial Distress
- Part II, 7. Why Is Flour So Dear
- Part II, 8. Thoughts on the Causes of the Present Discontents
- Part II, 9. Strictures on the Late Message
- Part II, 10. The Value of Money
- Part II, 11. The Way to Cheapen Flour
- Part II, 12. The Money Market and Nicholas Biddle
- Part II, 13. The Pressure, the Cause of it, and the Remedy
- Part II, 14. Connexion of State with Banking
- Part II, 15. The Crisis
- Part II, 16. The Bankrupt Banks
- Part II, 17. What We Must Do, and What We Must Not
- Part II, 18. The Foresight of Individual Enterprise
- Part II, 19. The Safety Fund Bubble
- Part II, 20. Separation of Bank and State
- Part II, 21. The Remedy for Broken Banks
- Part II, 22. Blest Paper Credit
- Part II, 23. Questions and Answers
- Part II, 24. The True and Natural System
- Part II, 25. The Bugbear of the Bank Democrats
- Part II, 26. Bank and State
- Part II, 27. Theory and Practice
- Part II, 28. Separation of Bank and State
- Part II, 29. Specie Basis
- Part II, 30. The Natural System
- Part II, 31. The Credit System and the Aristocracy
- Part II, 32. The Divorce of Politicks and Banking
- Part III, 1. Riot at the Chatham-Street Chapel
- Part III, 2. Governor McDuffie's Message
- Part III, 3. The Abolitionists
- Part III, 4. Reward for Arthur Tappan
- Part III, 5. The Anti-Slavery Society
- Part III, 6. Abolitionists
- Part III, 7. Slavery No Evil
- Part III, 8. Progress of Fanaticism
- Part III, 9. An Argument Against Abolition Refuted
- Part III, 10. Commencement of the Administration of Martin Van Buren
- Part III, 11. The Question of Slavery Narrowed to a Point
- Part III, 12. Abolition Insolence
- Part IV, 1. Despotism of Andrew Jackson
- Part IV, 2. The Division of Parties
- Part IV, 3. Rich and Poor
- Part IV, 4. The Street of the Palaces
- Part IV, 5. American Nobility
- Part IV, 6. The Inequality of Human Condition
- Part IV, 7. A Bad Beginning
- Part IV, 8. The Whig Embassy to Washington, and Its Result
- Part IV, 9. Right Views Among the Right Sort of People
- Part IV, 10. Newspaper Nominations
- Part IV, 11. Foreign Paupers
- Part V, 1. Monopolies: I
- Part V, 2. A Little Free-Trade Crazy
- Part V, 3. Asylum for Insane Paupers
- Part V, 4. Monopolies: II
- Part V, 5. Revolutionary Pensioners
- Part V, 6. Joint-Stock Partnership Law
- Part V, 7. The Ferry Monopoly
- Part V, 8. Free Trade Post Office
- Part V, 9. Stock Gambling
- Part V, 10. Weighmaster General
- Part V, 11. State Prison Monopoly
- Part V, 12. Corporation Property
- Part V, 13. Regulation of Coal
- Part V, 14. Free Ferries and an Agrarian Law
- Part V, 15. Thanksgiving Day
- Part V, 16. Municipal Docks
- Part V, 17. Associated Effort
- Part V, 18. The Coal Question
- Part V, 19. The Corporation Question
- Part V, 20. Free Trade Weights and Measures
- Part V, 21. Associated Effort
- Part V, 22. Sale of Publick Lands
- Part V, 23. Manacles Instead of Gyves
- Part V, 24. The Meaning of Free Trade
- Part V, 25. Gambling Laws
- Part V, 26. Free Trade Post Office
- Part V, 27. Free Trade, Taxes, and Subsidies
- Part V, 28. Meek and Gentle with These Butchers
- Part V, 29. The Cause of High Prices, and the Rights of Combination
- Part V, 30. Omnipotence of the Legislature
- Part VI, 1. Rights of Authors
- Part VI, 2. The Rights of Authors
- Part VI, 3. Right of Property in the Fruits of Intellectual Labour
CHIEF JUSTICE MARSHALL
Evening Post, July 28, 1835. Title added by Sedgwick. Text abridged.
We perceive with pleasure that public and spontaneous demonstrations of respect for the character and talents of the late Judge Marshall have taken place in every part of the country where the tidings of his death have been received. These tributes to the memory of departed excellence have a most salutary effect on the living; and few men have existed in our republic who so entirely deserved to be thus distinguished as examples, by a universal expression of sorrow at their death, as he whose loss the nation now laments. Possessed of a vast hereditary fortune, he had none of the foolish ostentation or arrogance which are the usual companions of wealth. Occupying an office too potent—lifted too high above the influence of popular will—there was no man who in his private intercourse and habits, exhibited a more general and equal regard for the people. He was accessible to men of all degrees, and “familiar, but by no means vulgar” in his bearing, he was distinguished as much in the retired walks of life by his unaffected simplicity and kindness, as in public by the exercise of his great talents and acquirements.
The death of such a man, of great wisdom and worth, whose whole life has been passed in the public service, and whose history is interwoven with that of our country in some of its brightest and most interesting passages, furnishes a proper occasion for the expression of general respect and regret. In these sentiments we most fully join; but at the same time we cannot so far lose sight of those great principles of government which we consider essential to the permanent prosperity of man, as to neglect the occasion offered by the death of Judge Marshall to express our satisfaction that the enormous powers of the Supreme tribunal of the country will no longer be exercised by one whose cardinal maxim in politics inculcated distrust of popular intelligence and virtue, and whose constant object, in the decision of all constitutional questions, was to strengthen government at the expense of the people’s rights.
There is no journalist who entertained a truer respect for the virtues of Judge Marshall than ourselves; there is none who believed more fully in the ardour of his patriotism, or the sincerity of his political faith. But according to our firm opinion, the articles of his creed, if carried into practise, would prove destructive of the great principle of human liberty, and compel the many to yield obedience to the few. The principles of government entertained by Marshall were the same as those professed by Hamilton, and not widely different from those of the elder Adams. That both these illustrious men, as well as Marshall, were sincere lovers of their country, and sought to effect, through the means of government, the greatest practicable amount of human happiness and prosperity, we do not entertain, we never have entertained a doubt. Nor do we doubt that among those who uphold the divine right of kings, and wish to see a titled aristocracy and hierarchy established, there are also very many solely animated by a desire to have a government established adequate to self-preservation and the protection of the people. Yet if one holding a political creed of this kind, and who, in the exercise of high official functions, had done all in his power to change the character of the government from popular to monarchical, should be suddenly cut off by death, would it be unjustifiable in those who deprecated his opinions to allude to them and their tendency, while paying a just tribute to his intellectual and moral worth?
Of Judge Marshall’s spotless purity of life, of his many estimable qualities of heart, and of the powers of his mind, we record our hearty tribute of admiration. But sincerely believing that the principles of democracy are identical with the principles of human liberty, we cannot but experience joy that the chief place in the supreme tribunal of the Union will no longer be filled by a man whose political doctrines led him always to pronounce such decision of Constitutional questions as was calculated to strengthen government at the expense of the people. We lament the death of a good and exemplary man, but we cannot grieve that the cause of aristocracy has lost one of its chief supports.
pure affection, slipped into his hand an order upon the Treasury for 1,000
l., and then went to his chariot. Marvell looking at the paper, calls after the Treasurer “My Lord, I request another moment.” They went up again to the garret, and Jack, the servant boy, was called. “Jack, child, what had I for dinner yesterday?” “Don’t you remember, sir? you had the little shoulder of mutton that you ordered me to bring from a woman in the market.” “Very right, child. What have I for dinner to day?” “Don’t you know, sir, that you bid me lay by the
blade-bone to broil?” ” ‘Tis so, very right, child, go away. My Lord, do you hear that? Andrew Marvell’s dinner is provided; there’s your piece of paper. I want it not. I knew the sort of kindness you intended. I live here to serve my constituents; the Ministry may seek men for their purpose;
I am not one.”
THE MONOPOLY BANKING SYSTEM