The Madisonian. [volume], October 14, 1837, Image 1

About The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845

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I ailan cuiutUMttM ?!*<>?? ????"??*" **??????
bii*:,?eul Mill IM* be rrn????i ?*?? ?*? M
pa li
pkospbc t ?j H
Tiik tliMaMU* ?.n be devoid to lb* support ?t
the nruicmles snd doctrine. ??* ?'* d?iiM>.rsii? ??
delimited b) M *?'<???. ?"J 4"" ' """' "" 'Z
that political r?U>r... m lb* ?'
national government. which ha. U
cated by ihe general sufferage, MMsentlal 1"*"
?nd prosperity of it* country. and to the prrfrcUM ..-?
perpetuity ol K? free institution. Al tin. u.i.r . .?*?
fsr state of affairs is presented The ro....?rc.l ...
tcre.ts of the country .re overwhelmed f j\
(Mat; it* monetary foncer... ??' jgJJJJJf*2? ,',.j
every r?ioific?tion of joculy ?? by d-trew. ?'?>
the social cJifk e **,.?. tlir. ?u-mJ with
every ear i* tiileJ v.ttli pred.ctiona <rf Oil e,<^* "
muring, of de.,K,nd.M,cy ; tht ge.?e?I '*
boldly asaailed by a large and reai*ctlWe <*f Iku
people, a. the d.reet e.u.e of tl?-.r d.ffi< ult.ea ; .pen
resistance to the lawa ta puhlu-ly en?i?oragvd. a-K? a
spirit of insubordination i* to.tereJ, a? a iie?r??arjr
defence to the pretended usurpatitna of lha pari* "?
power; aome, from wliwabetter tbWfa w*? l>op.d. are
making the " confuaion *or.e confounded, by a l? ?d
lonji pursuit of extreme notion# and indefinite plwiiloma,
toully incompatible with a wbole?ome atate of the
country. In the i.nd.t of all the* di?cuh.ea and ein
barraaainents, it u feared that many of lb* Urn hrin ol
the friends of the adiuiniatratiou and aupporters ol
democratic principlea are wavering in their conWrnc*.
and beginning, without juat cau?e. lo view with dialru*
those men lo whom thry have been long attached, and
whose elevation they have laboured to piomote from
honest and patriotic inouvea Exulting in tiie anticipa
tion of dismay and confusion amongst the support era ot
-the administration as the consequence of iheae tiuuga,
the opposition are conaoln-g themselves with the nlea
that Mr. Van Uurcn's friends, as a national party, aie
verging to dissolution; and they allow no opportunity lo
pass unimproved to give cclat to their own doctrines
They are, indeed, inalunng plans for their own future
government of the country, with seeming confidence of
certain success.
This confidence is increased by the fact, that tisionarv
theories, and an unwise adherence to the plan tor an
exclusive metallic currency have unfortunately carried
6oiue beyond the actual and true policy ot the govern
ment; and, by impairing public confidence hi the credit
system, which ought to tie preserved and regulated, but
liot destroyed, have tended to increase the difficulties
under which the country la now laliouriitg. All t lie so
seem to indicate the necessity of a new organ at the
seat of government, to be established upon sound prin
ciples, and lo represent faithfully, and not lo diota'e, the
real policy of the administration, snd the true sentiments,
measures, and interests, of the great body of its sup
porters. The necessity also apjiears of the adoption of
more conservative principles than the conduct of those
seems to indicate who seek to remedy abuses by de
stroying the institutions with which they are found con
nected. Indeed some measure of contribution is deemed
essential to the enhancement of our own aelf-respect at
home, and to the promotion of the honor aud credit of
the nation abroad.
To meet these indications this undertaking has been
instituted, and it is hoped that it will produce the effect
of inspiring the tuntd with courage, the des|ioiidliig with
hope, and the whole country with confidence in the
administration of its government. In this view, this
journal will not seek lo lead, or to follow any faction, or
to advocate the views of any particular detachment ot
men It will aspire to accord a just measure ol sup
port to each of the co-ordinate branches of the govern
ment, in the lawful exercise of their constitutional
prerogatives. It will address itself to the understandings
of men, rather than appeal lo any unworthy prejudices
or evil passions. It will rely invariably upon the prin
ciple, that the strength and security of American insti
tutious tlopcnd upon the intelligence and virtue of the
people.
The M ioisonian will not, in any event, be msde the
instrument of arraying the north and the south, the east
and the west, in hostile attitudes towards each other,
upon any subject of either general or local interest. It
will reflect only that spirit and those principles of mutual
concession, compromise, and reciprocal good-will, which
so eminently characterized the inception, formation, and
subsequent adoption, by the severul States, of the con
stitution of the United States. Moreover, m the same
hallowed spirit thai has, at all periods since the adoption
of that sacred instrument, characterized its mcrtcNrc
by the PKOPI.B, our press will hasten to its support at
every emergency that shall arise, from whatever quarter,
and under "whatever guise of philanthropy, policy, or
principle, the antagonist power may appear.
If, in this responsible undertaking, it shall be our
good fortune to succeed to any degree in promoting ihe
harmony and pros|>crity of the country, or in conciliating
jealousies, and allaying the asperities of party warfare,
bv demeaning ourself amicably towards all; by indulg
ing personal animosities towards none; by conducting
ourself in the belief that it is perfectly practicable to
differ with others in matters of principle and of expe
diency, without a mixture of personal unkindncss or loss
of reciprocal respect; and by " asking nothing that is
not clearly right, and submitting to nothing that is
wrong," then, and not otherwise, will the full measure
of its intention be accomplished, and our primary rule
for its guidance be sufficiently observed and satisfied.
This enterprise has not been undertaken without the
approbation, advisement, and pledged support ol many
of the leading and soundest minds in the ranks of the
democratic republican party, in the extreme north and
in the extreme south, in the cast and in the west. An
association of both political experience and talent of the
highest order will render it competent to carry forward
the principles by which it will be guided, and make it
uoeful as a political organ, and interesting as a journal
of news. Arrangements also have been made to fix the
establishment upon a substantial and permanent basis.
The subscriber, therefore, relies upon the public for so
much of their confidence and encouragement only as the
fidelity of his press to their great national interests shall
prove itself entitled to rcceivc.
1 THOMAS ALLEN.
Washington City, D. C. July, 1837
EXCHAH6G HOTEL
THE SUBSCRIBERS, having leased the Exchnnee
Hotel, (bite Fnnes's,) nnd having fitted it up in lirst
rate style, will tie prepared to receive visiters on MON
l)\Y the 9ih inst. 'I he location of the hous.1, Ix-inn with
in a few minutes walk of the depot of the Baltimore and
Ohio, Washington and Baltimore, and Philadelphia Rail
roads, as well as the Steamboat to Philadelphia, Norfolk,
and Charleston, S. C., makes it a desirable place to all
travellers going to either section of the country. This
HOTEL attached to the Exchange Buildings m ihis eitv,
has been erected and furnished at a ereat cost liy the pro
prietors, and is desumed to tie a first rate hotel. It is
Ihe intention of the subscribers to make it for comfort, re
sjieetahilily, &C. &c., equal to any house in the United
States. The undcrsiaued flatter themselves that they
need only promise to all who may patronise the establish
ment, that their best efforts shall tie exerted to please, and
at charges which they hope will meet their approba
tions. * .
JEWETT & DE BUTTS
Baltim'oie, Oct. 7, 1K37. -IwVJl
SAMUEL,HEINECKE informs his friends and tfie
public, that he has taken a room four doors north of
Doetor Gunton's apothecary store, on ninth street, where
h-will carry on his business. He feels confident, from
Ins long experienee in cutting all kinds of garments, that
general satisfaction will lie given to such as may favor
mm with their custom. scp 'i3 3tuw3w
WE II WE FOR SALE?
? V KM) pieces Black Silks, superior make
50 do Figured Blue Black do
1 ">o do Colored Figured Silks
100 do Plain do
The atmve w ill be sold low.
BRADLEY &CATLETT.
89?3taw3w (Globe.)
* 4* 1
THE MADISON IAN.
rtqfe=y?= " 'i| " -
VOL. I. WASHINGTON CITY, SATURDAY, OCTOBER 14, 1 837. ? NO. 23.
jg<?( (*?: It MNlHIItNO UoOUNi?Wa Utc for
| Mif ?*? i?*T?ts carpetin*, which we ?ill aril low.
Ml *t? Hturarla
W ?l?? M. M. I'M. ami |?J-4 Linen Hluwliiut.
1MB *? t-?,?-? Bmnaly Diapers
J ft ?, MM wwl MM fcu. | Clotha.
Napkota to *>????!?
I W* lami lhi)Mi
I l*U autr l'r?k
Ala. ?? Mata. 11 Ira Qui ha
HHiDLCY 4 CATLETT.
Hm |> 9- *w*w
I itovibi atorisii ami gratkmI
I 11% I I. J?a( received Ir-in I In North a tenr Itrnr aup
jt!t u| Huneft, Umh i, ami JuuUr Illixk Tin Ware?
( .4., H ; ilt? DfCtaiJJ* It'll'!, ?\t* I Kmi1 Shut**
I ?!????? aM ki)?U. aviita)il<- t.,r ? or tool. In the lirat
|>( . I hate liw K.M.iry Cookm* ftlnvri ?f all (hi- differ
>??1 *.*. No 0, 1,1 aid] T?a I Male Stiwraiit all the
I |< I. r??i ai*.*, la?h lor rookia* ami plain. Pruuklin
nl ail ifce J ff: rn.i aiar* I Hair Min*' wry spleu*
j ill.I I'arbw (Mute* lor tmriun. ??-.-( or l?*m, C<iai Stove*
! j?II a>?r. I?? >i|??iw'* <" i^| Hlo?i ?, fancy and plain
1 i"p?,lr.>'? V> I t? S 1'iul (Kutniif otlwr kind*. l)r
*V ??i"? t'?wl Ml ores and Ihe lilnlr Stovca'are uwat miiiI?
| aWr Imi PuMie ortieea, tare* liatU, churches, stores, at il
i atr*i?'?Mta. ??* ant aparlmrnl where on wi?|i a strong
i bra! In tart I havr Ittuvr*th*) a ,|l treat aiiV place,either
? ilia a.K?l <?? e.al I have tli>' latent f?*lno<i Mantle
lirat) a, both low ale I hi*h trout*, nr)f cheap-?and it i
ha?' # < a pallet ii ?t Urate mi halt I thai will anil, I can
inair it at the -tU-al notice, to a iit ant fancy I am
lullt |'?r|?arr 11? ?t? ant Wind ol 'I'm, Copper, tfhect Inin,
Hi'??r, lirati', l.< ad m /.inr ?>iri, at the shorten! notice
A a* raou ot lwviii| Pilot ca ot Oritra from thr
?<i'?c ri'? r, or anfr otlwr tiling in hi* linr, will have Ihcin
a. nl home in |r.??d order, ftc. o| an? ettra rh.kue. St..tea
j laiU hr (Mil up rva.lt lot uae, free ot any ettrw chartfc.
All ihe a'?o? aim tea will be a>>M n rv Uia, and all or
?tftra thanklullt reeri?e< ami peeetualh all. imI. <1 to, with
I drapai. h a? I ?hall hiu a umt'vr ml lint rate workmen.
li??donra K?a? of l> C'l?<Ht'? |)ri (loud fltori', nc*t
door la K Ihft i Ami ion Mlorr, IVmi %>
ri.KMKMT woonw \KI>
H.'P? ?. (Intel and 4>Mm> ) titH
rioaPM ri i
or rMK
1*KW YONK R U VIE W
*?o
HI AHTIILT C M r H (' H lOt'RXAL.
TMK plan ?( lilt* I'utili.'.itn>n tun'i^lM'* ? *ten.l. *l re
viewaitf important ttiirka, and diacu??ion? of imjNir
tant ?ii''i< rta in riftry d< |>arlinent ot Uterftturr and think
inn, aiiiiilar in form and i nan net ol tl.riM* whK'h make up
the cotrtt'iita of CJnartrrlt Ke%ii'i?a Ke?er?lly
It prorMMe*. alao, a Iwief a?n\hri,/ nmr\ of the literary |
proiliieii..n? ot . *ery currrnl ijuarter. with ahort ertttciU j
indtratlona of their <'li.inict?r an i - alue iu their rt?|iecttve i
dfiiartfttrnla.
It eitihrar. ?, likewiar, a rrftater of tl>< m<Mt uniioitlint
rvrnta and faeta in tke literary and lelmioua world, par
tii-ularly in reference to lft>- atate and prog re *? >jl the
Chnrrh
The iiBJBVT of the whole work ia to ftxhilut. n<i fur u*
(MMaitile, every thin* mo?t lnij'ortiiit to a jtiat eat I mate III j
the eharacter ol the time*. "?nd ol the inlelleeliiiil unit !
inornl movement of a<K?iety ; to ptO'lHite the mlrreat* of |
lin>>d literature, aound thinkin*, relutou, and Chriatian
orvler. , In llua veneral t?me and apint, it will lai run- j
formed to the principle* ot the I'lutratnit Kptac<i|i.il
Church. The rout union ol the truth aAdttttporUnre ol
theae principlea, a? they are lie Id in the unttv of the Church,
maintained in a free and iinenmproini*>nK, yet liberal,
candid and roni'llutUng apint, will cooatilule the unity of
the wnrk.
A i laiinem. nta have Seen made to aecurn the aid of the
l"'?t writer* thronehoiit the eountrv ; and no jmiii? or et
(u rinemil lw apaml to make tin* p uldtcatioti a woik of
the hi*he?t ehararter.
'It r i?t?The work will contain an avernee of i.V> pa tea
to t'.ieh nuinU'r, and will In' fnrniahed to SuttacrilM'ra at
Five l)ollur? a year, patahle on delivery ?f the lirat num
ber Any peraon hecoiniu^ rcaponaible lor *<* eo|>iea,
?hall receive the wventh Copy cralia.
All Comuiuniralnmi on the iMiaineaa concern* of the
Renew, t<? Im> aildreavd to the Puliliaher, lieorne l>e?r
I anil Co., :W tiold at New York. Other cooinninica- j
tioua to be addreaaed to the Kdtlor, care of Georite Dear
born.
(let. A.
IIANK OF WAHHl?IOTO!f.
2!)rH Afoo?T, 1837.
AT the reinilar mertinj[ of th'' lio:?rdtht* day, pre*etit,
the Preaiilent and nine of the Director*, it waa una
ni inotialv
Jt'unlrrH, lat That r?n and after the fir*l of Septeinlier ,
ne*t the note* of thi* Bank lie redeemed tn apeeie.
2d. That all depoaitea reinaiMin* undrawn, (the aamr j
havin* neutly all lieen ree.-ived aince the Win petition <>f j
apecie payiuenta,) and all future depoaitea, other than j
audi a* ni iy lie made in apeeic, and he at the time a?> en
tered, be payalde in note#"current in the Diatrict ol Co- j
lumhia.
3d That all collection* for B.ink* and individual*, and
all curtail*. I?e received in note* enrrent a* alaive ; and
that all aura* ao collected lie paid in like inndx
VV , t!l N TON, I'reatdent. j
JAS. ADAMS, Cuahter. fiteialfl
From iht J'rnn- Van Dtmorrat
ocn baskhu kyntiiji.
Continual ch.irj<ei are bronchi a?ain>( our bink
iny py^tcm.?The one of ni.mopolr. niul exclusive
privileges have been re-ech'ied by uutij?The
question is now b.-in^ drav^ed to the polls and the |
bmkM are to b ' crushed through an tiUHUte tear of
monopoly and corporations. Qivins the broad in- '
terpretation to the word "mouopeny," which the!
radicals do, every branch of business recognized by
law is a monopoly, becausc not alike open to all.
There are many monopolists, in this sense, besides
the binker. Lawyers, physicians, merchants, far
mers, mechanics, arc all, in a certain deprce, mo
nopolists. But this is an unfair attitude in which io
present the question. There are considerations to
be presented, other than those of "equal ri^hOf," as
they are fond of terming it.
1. The btnkintf system is intimately connected
with the trade, credit, and welfare of the whole
community. To destroy it, is to ruin the country.
ii. In the absence of a suHicient quantity of the
precious metals, it is the only medium of furnishing
an adequate and solvent currency to the people.
3. It is the cheapest, safest, and most convenient
agency, which a government can employ in its li>cal
concerns.
4. It furnishes at the present crisis the only mean
of purchasing the staple products of the country
from the fanner, and of carrying ihetn to marke'.
5. It is the only certain way by which the mecha
nic and laborer can carry forward their business, and
be rewarded for their toil and industry.
It is not pretended that the bunking system i> per
fect. It needs many alterations and corrections.
Our language is "reform and regulate, but do not
destroy. ?To persevere in a course of korfililti to
irards nil bank*, and especially to thstolrr porrnt
mrnt connection with thnn, will produce the following
results.
1. An indefinite postponement of specie pay
ments.
[ S2. An insolvent, fluctuating, exclusively piper
currency at first, and
3. A total absence in the end of a circulating
medium among the people at all, for any of the pur
poses abjve named.
4. A total prostration of credit, confidence, aud
good faith.
5. The want of a market for produce, and m.mu !
factures, and of a standard by which to regulate the
prices of produce and labor, and totally
6. Uuneral bankruptcy,distress and ruin.
We think this sufficient to tneet all charge* of'
monopoly. Our banking system is too firmly inter i
woven with the business of the country, to produce
different results.?A well regulated banking system
is that well regulated "credit system" which all !
approve.
These arc not our opinions alone They were
the opinions of President Jackson, in his Me**.i,re j
of 1M35; of Mr. Van Buren, In hi* letter to Hhernai !
Williams; of Mr. Rives, in his speech <m the l?e
posite Bill; of Mr. Wright, in his speech ol J.inu- j
ary, 1H34, on the Deposite Bill; of Mr W<**lbiry. I
in his report as Secretary of the Treasury, in I>?*- i
ccinb-r, IKI4; of Gov. Campbell, in his last Message I
to the Virginia Legislature; of the Albany Republi- j
can Committee, in their late Address, ot Mi tin j
land ot Virginia, in his letter to the Charlottesville |
Republican; of the Republican Member* ol Con-1
i nrres> from Neu Vork [among whom were Mc*srv ,
I W right, Tallmadge, Beardsley, Cambrelcng, Oillet,
Howell, Mann, Vanderpoel, Ward, White, &c J in ,
j their address to their constituents, June, 1KM, and
j lastly ol the veteran Ritchie of the Richmond Ln- ^
j quirer, in the article we copied in the Democrat last
week. With such lights to guide us, we cannot
gander.
From thr lluilton [ .V. T ] (iizrttr
Tlie creation of Sub-Treatury office* a* the dej>o?i.
tone* of the public money, appctrs not to meet with
a cordial reception from the people, and i* considered
as contradictory to the wish expressed by the President j
in his message, " of the withdrawal from the Ktecutite
to the greatest practicable extent, of all concern til the
custody and disbursement iu the public revenue "
From the Forth Am<i van.
[A new paper juat commenced at Philadelphia]
Ohiuinal H*iiinhc?k?m.?The following article
contributed to our column, by au aged citixe.i> ??
grcal interval. The domealMS manner. and U..I. O
luch a iiud .. Washington tie ii.tercsU.ig even ... tl*>r
minut-at delatl, and ^ deem ourselvea pecuUrly lo'
tunsle ... I iavuig aecured iho aid ol so valuable ?"rl'r
?. our reminiscent Tlu. aource from whence the re
collection of by-gone days emanate "? ? eu
itu'.r authenticity, and U*y will be conUnued .1 short
iiittivill. lor some time to come, our render* will have
spread before them tli. pcraonal knowledge o one o '
ihe olden tune, who moved and mixed among Hie great
nud good of our revolution.ry fathers.
UKXlNIMKIICBii OK OKN. WASHWUTOS.
And of tht CuigretM trhtch m! in Philadelphia while
he trat Pr etude nt.
After a great deal of talking, ami writing. and eontro
verey. about the permanent .eat of Congress under he
oreaent coualitulion, it was determined that Philadel
phia .bould be honored with it. prebence lor ten yeare.
and that afterward, its permanent location should
the City of Waslungton, where .1 now u. In the mean |
lime, the federal city wa? in building, and the egisla
ture of Pennsylvania voted a euin ol money to build a .
houM- lor tho I'reaident, perhaps with some hope, that i
Ihi. might help to keep the .eat of the geliefal govern
ment in the capital?-for l'h.ladelnhia waa then c""aidcr- |
ed the capital of the .late. What wa. lately the m
ver.ity of Pennsylvania, waa ihe atruclure erected lor
Uua purpose. Uul sa .oon an General W aahington ,
mm, it. diiuenaious, and a good while before it waa
iiuahed, he let it be known lhat he would nol occupy I
it?that he ahould not certainly go to the(expense ol
uurcha.ii.g furniture fur such a dwelling. r or it is o
Iw understood, lhat in tho.e days of .tern republican
lain, nobody thought of Congress yum.**.** the1 resi- I
dent's Ii?um! ; or if perchance such a thought jlid en- i
ler into ?oiue aristocratic hesd. it was too unpopular to J
be uttered. , , ? nC 1
I'reaident Washington, therefore, rented a house o |
Mr Hubert Morris, in Market .treat, between tlfliand i
Sixth .treeta, on the South .ide, and furnished It hand; |
aomely. but not gorgeoualy. There he lived with . Ira. |
VVaahiiigton, Mr Lear his private Secretary and us
Mile anil Mr? Washington's grandson, Curtis, making
a pail ol the family. Voung Curiia had a |?rivatc tutor
employed by the President, who was engaged to attend
on hi. pupil one hour iu the winter mornings, before
breakfast; and who then commonly breakfasted with
the I'reaident and hi. lamily. Tho President ate In- |
dian cakes for breakfast, af.er the Virginia laehioii; al
though buck-wheat cakea were generally on llie Utile.
Washington's dinner parties were entertained in a
verv handsome style His weekly dining day for com
pany wa. Thursday, and hi. dining hour was four
./clock in the afternoon His rule was to allow five
ininnie* for the variation of clocks and waclies. and then
0.1 to Ihe table, be present or absent whoever might
tie kept hi. own clock iu the hall, just within the out
ward door, and always exactly regulated. W hen lag
ging members of Congress came in. as thev often did ,
alter the guests had sat down to dinner, the 1 resident s |
only apology was, "Gentlemen, or sir, we are too nunc- j
111 a I for you I have a cook who never asks whether j
the company ha. come, but whether the hour has |
come," ,
The company usually assembled iu the draw ing room, j
aliout fifteen or twenty minutes before dinner, and the j
President spoke to every gue.it personally on enter- i
irtg the room He always dressed in a stnl of black, ,
hi. hair pondered, and tied in a black bag behind, with
a very elegant drcas .word, which he wore with inimi
table grace. , ,, I
Mr. Washington often, but not always, dined with j
the company, sat at the head of I lie tabic, and if, as was j
occasionally the case, there were other ladies present, I
they sat on each side of her. The private secretary |
.at at the foot of the table, and was expected to be spe
cially attentive to all the guests. The Pieaidenl nun- j
self sat half way from the head to the foot of the table, |
and on that aide which would place Mrs Washington,
though distant from him, oil lite right hand. He always,
unless, a clcrgymsn was present, asked a blessing at
hia own talde. in a standing oosture. If a clergyman
was present, he waa requested to ask a blessnig before,
and return lhanks after dinner.
The centre of tho table contained five or six large
?ilver or plated waiters?those at the ends circular, or
rather o\?i at one aide, so as to make the arrangement
correspond with the oval shape of the table. Tlie wai -
, rs between the end pieces were in the form of psrallcl
lograins, the ends about one-third part ol the length of
Ihe sides , and the whole of these wallers were filled
with alabaster figures about two feet high, taken from
the ancient miihoiogy. bul none of them such aa to ol
fend in the smallest degree against delicacy. On the
outside of the oval formed by the waiters, were placed
the various dishes, alwaya without covers ; and outside
the dishes were the plates. A small roll of bread en
closed in s napkin, was laid on the side of each plate.
t he President, it i. believed, generally dined on one
dish, ami that of a very simple kind If offered some
thing. either in the first or second course, which was
verv rich, his usual reply was, " that it is too good for |
ma'" lie hail a silver pint cup or mug of beer pUceU
by hit pkte, which he drunk out of while dining. He
took one glass of wiue during dinner, and commonly
one after He then retired (tho ladies having gone a
little l>efore him,) and left his secretary to superintend ,
the table, till the wmc-bibbcrs of Congress had satisfied |
themselves with drinking. His wines were always the ,
be.t lhat could bo obtained.
Nothing could exceed the order with which his table ,
was aerved?every servant knew what he was to do,
and did it in tho ino.t quiet and useful manner, the i
dish< s and plates were removed and changed with a si- |
lence and speed that seemed like enchantment.
Congress Hall was the building now occupied as a
Court liouae, at the corner of Chestnut and Sixth
streets Except a vestibule, about 15 feet wide on
Chestnut street, the whole of the ground floor of this
building was formed into s llall or < lumber for the
House of Representatives. There waa no door open
ing into Sixth Street, and the Speaker a chair with two
desks?the one on the r.ghl hand of (he Speakor forthe
clerk of the House, and the one on the left for the chap
lain. were placed directly ophite to w|vrrcthc door or
entrance from Sixth street is now placed The chair of
the Speaker was one platform of two atepa elevation ?
tin- seats for ihe iimsiiiIkts w ere in three tiers in the form
a section of a large circle, one behind another all front
ing the Speaker's chsir, sod those back of the front tier
were raised, the firat one step, and the bsek tier two
atcps. The chaira for the members were mahogany,
with stuffed seata and aims; snd s mahogany desk,
with a drawer snd key slood before each chair I here
was a ranmstcr round the whole segment of the circle .
behind the last tier of seats ; and the wall of the hou.o. ,
The chamber was wanned by large open stoves, com
monly csllcd Franklin sieves. two adjoining the wellI on
Sixth strei-t. and two on the opposite wall 1 h. til
used was alwaya of the best hickory wood I here w.s
but one gallery ... tl?e H? l??MUtives t l.a.n H r-rn'e -
.cr.H.. the side ol tb- liousr on IWout ^
vrring th^ whole of tin- vestibule, and a frw feet within
The ho
1.mr 1.1 rin-stnul?at Ibe other eml of tl?e ch. ni?er
w':,;r2w.j.<i?.?*?'
??a wt,rn (he weather wa. temperate and ,4easanl. s.kI
sisnaS tE,ttrJsc^s
Ihe *** 1 ^ ,h<? ,.ry. ..
Hoo^s and o.|e ^
"Th";EJ M... tw
! ' i lll n tK.. chamlwl. WO ... gr,H,d. s l.tlU
fun.ituif umeetl in ll? ^ ( (>,(| ^ ortl41nr,ll
more shoav lh? ? length portr.it. ol the K...g .nd
consisted m the ' .1 - | \|.ne AntooMMtC.
Queen of Irs.^e, 1^ * > r
r** Z11Z wafw.. format Th.? P
ou, re o ? w a ^ ^ M C^^ m.
tuna were a ro>. ^ u, ^ ? ... M,.l lh,t
ami were of thef <i>a g,,rt.n Mrrr remarkahlv
thrjike." 7* 0^r^..s might he. the g. a. to
tsart, bul fcntf^ rjr wrra tba moat
.he ^gn, colony a e (m,( (, ^ ? |n lbl. couo
1 , Ihln an, 'hat h.ve s.oce been wrn.
-perhaps than a..jr eW(#|| ^ -
SUSt'Se 'EtT and ^ ? *?"
roW,.. or ?uje dies., awl nothing could exceed tjw
rxquuite tints and fiuiah of the draimry.
framing ot the picture, w.., in .ttikuJ. ?
.plendfd a. that which it enclosed. 1'? fJf
both, which were perkupa a foot and ? half in width.
were carved in a inaaterly manner, exhibiting thear n
of France, and other aign. of royalty, and covered with
a thick gillldliig, that had much the appearance o?o id
gold. Tim r let urea hung on the op|M?.ue wall to lh*
on which the Vice Pre.ideuf. chair wa. pplaced
front",? that chair In the height of the Ire, eh
revolution there waa aoroe talk of renwviug or co
vering thnao picture.; but they remained till the
transfer of Congress to Washington, and were nevi r
covered Wlwt ha. become of them ia unknown lo the
Keniiiiiacenl; he think, he baa heard of thein once .nee
their re.no,noval to Washington, but that was lo..;, .n ce.
He hope, thev were not destroyed in ihe
of the public building. at Washington by the Int .h -
If not, lhey ought s.irely lo be carefully preserved, not
only a. memorials of the donor., but as specimen* of
the art of painting in France at the time they were
Ulh was in the Senate chamber, and in the
of both homes of Congress thai V\ ashing on i e
hi. siteecbea?for he did not send them by his .cire
tary. in the form of a message. 1 his was a prai ice in
iroducod by Mr Jeffurson, and has bcon continued ever
since. But Washington made Ins communication. at
ever)' opening of Congress in person 11,1
that ihc houses wore m session and ready to " ?
communications, he replied to ihe committee ha
ed on him, that he would meet Congress the next d y
at 12 o'clock. And lit. pnuctuality wa. such, that he
never varied one minute Irout the tune that u. '
He genially entered the outward door of the buildup
while the town clock wa?%txjkmg twelve.
When ho camo into the Senate chamber, the mem
bers all rose, and bowing to thorn, gracefully, he too*
his se.it, and at the same time the members resumed
theirs He commonly sat about three or lour minutes,
dnrin" which time he took his spectacle* from the side
pocket cf his coat, and his spee. i. from another pocket
and placed both ou his knee, casing Ina cye. over the
audience. He then put on his spectacles took Ins
speech in his left hand. rose, and immediately began to
read, the members remaining seated. He re.ui in.
speeh audibly, distinctly, and without hesitation, he
was not what would bo called an accomplished reader
He occasionally, in an interesting part of his apwen.
enforced what he said, by a motion with bis.right hand
?the gesture was not violent, or even what i* called
bold ; but it indicated earnestness, and was graceful y
made When he had finished Ins speech, he bowed to
the Congress, and the members rose while he retired.
SPEECH OF Mil. OAIIIiAND,
OK VIRGINIA, l
In the House of Representatives of the U. S.
Sept. '25, 1837?in opposition to the bill ,
reported by the Committee oj Ways and
Means, entitled, " A bill imposing additional
duties as depositories i/i certain cases on
publite officers, and for other purposes :
(Concluded.)
Havin" thus, Mr. Chairman, attempted to prove
the safety and capacity of the State Banks as fiscal
and commercial agents, shown their present solven
cy, vindicated the. propriety and necessity ol heir
coarse in suspending specie payments, andurgt d m> j
objections to ike S*b-Trtamry sttovu, I will now .
offer to the cointnii.ee a few brief remarks in sup- I
port of the proposition which, by the kind indulgence
of the House, I have had the honor of laying b-fore j
" The scheme which I have presented is substantial
ly the "currency bill" which passed buLh Houses of ,
Congress at the late session ot Congress, and which
was retained bv the late President under the ajipte- |
hension that its construction might require the inter- ,
vention of the Judiciary, on accoum of some^ p
posed ambiguity in its language. The sub5tantial |
features of thin bill, requires the notes of all specie
pan in" banks to be received in payment of the pub ic
revenues whether derived from foreign importa
tions, public lands, or any other source and restricts
anv distinction b 'tween different branches of the re
venue, and for the purpose of enlarging the specie
circulation of the country, by such a gradual process
as to prevent any shock in the business and com
merce of the country. It provides that the notes of
no specie paying b inks shall ba received which shall
not immediately discontinue the issue and circula
tion of all notes under five dollars, and at given pe
riods thereafter, all notes under ten and twenty dol
lars It also provides for the continuance of such ot
the present deposite bulks as are sound and in good
credit as depositories of ihe public money, upon he
condition o fa (Fording such coll it ral security as he
Secretary of the Treasury, in ihe exercise o! a
sound discretion, may prescribe. This bill only pre
sents the "eneral features of a scheme which may be
matured by amendments adapted to the present em
birrasscd and emergent condition ot the c"u"try
This bill also proposes a restriction ot the number
of State Banks ty be continued as depositories of the
public money within such bounds as to make it their
interest to adopt the measures of reform in the cur
rency which experience has proved lo bs necessary
for its extension, its credit, and its soundness. Tins
number will be in the discretion of Congress This
plan had the countenance, and was recommended b)
the late administration, as well as by the present se
cretary of the Treasury. It was earnestly and re
peatedly urged, and many of the states have a^pted
their legislation to its prinelp es, and that then is
now no just cause for its abandonment?nor has the
T,r..vctii state of things stripped it of any of its ad
- 1 ibiSl I taw satisfactorily
unless 1. bs nsMsmiyto 1
the system that banking institutions should be mfal
libit nnd conducted by infallible men, which is unat
^n Resenting this scheme, I have done it under the
impression which seems generally to prevail tha the
Sing institutions of the country would not be
abandoned, and that their notes under those modifi
cations and restrictions which experience might
fr,.m lime to time prove to be necessary, would con
stitutea material part of the currency of. the iwubiit.
If this impression be true, nnd no es of binks shall
continue to constitute a material part ol the currency
of the country, I regard it as strictly proper, and -
;;;,e'd necessary, that the Federal Government should
so rc nilate its actions in reference to the currency,
which the stales, in the exercise of their sovereign
rights have thrown into circulation, as to give to
[t as much credit and soundness as possible, becausc
hv suTh a course the intercourse between the states
will b- more regular, more uniform more hnrmon -
ous more convenient, and more cordial. But it Is
said bv some thai Congress has no constitution
Mwer to legitamite h ink notes so far as to compel
ihe Government to receive them. Bir. this notion i
of .n,Klein origin, and is opposed toJihe
,i,?,n which this Government has acted irom almost
j!L loin,daibm. It is true this Government to. no
.H.wer lo e nit pai>er tnoiiev, it can make nothing but
Kl '^^r/orthat is the standard .ol value of
He world But there is a material distinction b.
im-en c0.*ihi[ money and receiving public die.
a , uoi s,-.- any constitutional restriction upon tin ( .
vernrwni in receiving a promise to pay m a bank
II. or in a ...erchants I md. I *?.***?J1 'J*
,K ?. rof the Government to receive its au^'n,a">
thing ii in.iv deem in? -si expedient, and such
ii. . instant and undeviating practice.
The bill which I have submitted, Fop1*?"
en Urge the sp.-eie cireulalion ol ihe country b>
SLiEly re'iiing the 'smnerdenom.nuon,
ari l introducing in their sU :1^ a "Vwl , until the
i> .n This, sir, I propose slep by step to do, until me
in s illi' cir. illation sLill be s,. enlarged.as to con- .
tit.- the inaierial pa|s-r circulation to their / f i'
,,,<1 rr, rommerrial transactions. And untilJhe mt
I,ill! bi-is shall assume such a relation to the p pt
nreiilation as to secure without diffleu^lt> tlie c m
x rtihilitv of the paper into specie. It is an aa
,ril principle, lhat no:cs and coin of the same d n -
value of Ihe coin makes it a subject of commerce,
an t It alwavs seeks distant employment, when th? re
? a local and less valuable .'nrrency to MIPP^ ''s
l.. .1 circulation The plan which I Pr<T?T; s^ * f
prevent this effect by r.-siricting the ctreu'ation of
it , ??? in an amount above the denomination
com in circulation, so as to that amoun , to render
and if bv the oiH-ra.onoMlis
.limit aha H b- found expedient still iarth r to rt
Lr "t bank notes, it can be done by ihe aid ol that
expt riei.i- . win. h the progress o( the plan "j
"l?. Whi. h Will b-a sure guide to truth In the
,hs. ussi.rti ..r this subject, I Shall not find it necessa
rv .o d - ranch more than ref r to the ^penenceof
two of the most commercial nations ot 1 he world,
Clteat Bi .lain and France, and the opinions of same
of tlie mosi distinguished statesmen aud financiers
of Great Britian and the United Slates. The Bank
of England in 17'J3, became seriously and alarmingly
embarrassed, on account of the immense reduction of
her bulHoo, and the heavy demands of depositors,
the resnlt of which was a suspension of specie pay
ments; up to this time, the bink was not authorised
to issue notes of less denomination that f> pounds, to
nrev,"it drivinsr from circulaiion coin of small de
nominations. Thesuspension was leff.li/ed by Act
of Parliament, and the built to supply the vacuum
created by the withdrawal from circulation o( small
coin, which had been exported to the eon ineiii, was |
authorized to is-ue notes ot ? I and ?2 denoimna-1
lions. These noies were issued to a large amount,
and circui .led to a greal extent, the result was, what
I always will tv, the expulsion limn circulaiion <>t
nearly all coins of the same denomination*. Such
; were the etfec:s of this act in enlarging the issues <>l
the paper medium of Euglaiid, and expelling us b il-1
! lion, thai afi*r manv efforts, in lriib this law was le- .
pealed, aud the buik required in 1H29, to re-:
sirict its paper to the issue ol i.5 notes and
over The cflect of this rej?eal, has baen
so to enlarge the spccie, as to secure the ?wwii
bilitVof the paper circulaiion. The Bank of r ran* t
is prohibited from issuing notes b^low five hundred j
franks, .-.bant of our money. This b mk was
| chartered in 1800, and the letriction imposed in M I
' From that Iirue to the present, notwithstanding, the
calamities of war, two Invasions, and several com
I menial revulsions, the currency of France has re
I mlined sound and uniform, and the. paper of the
bink in good credit. Austria and Russia, who are
i making vigorous exertions to enlirge their cotn
i mer. e, have adopted the Bank of France as a model
lor their imitation, and have incorporated, banks;
I upon the same principle. It would seeiu to me, that
i with such examples b fore us, there could be little |
doubt of the correctness ot the principle ot the Dill,
which l propose. But, sir, 1 will add to this evi
dence by citing of the opinions of some ot the most
distinguished statesmen and financiers ol Great
Britain, who were witnesses of the operation ot the
bink restriction in England, and iis injurious etlccts
upon the currency of the country. The celebrated
E lraund Uurk, among the last leUers which he ever
wrote, in one addressed to Mr. Canning, upon the
subject of the issuing of small notes, said: I'll
Mr. Pitt, that if he consents to the issue ot one pm'N"
notes, A- will nersr see a z%u#a again. 1 his
prophecy was uvll ui^li bv'in^ fulfilled, and was
proo?blv only prevented from fulfillment by the ie- j
peal of the restriction. Mr. Huskisson, one ol the
purest and one of the ablest ol statesmen, and one ol |
the most skilful financiers of this or any other age,
in a speech delivered in Parliament,on the 15m day
of February, 1822, upon the agricultural distresses ]
of Great Britain, said:
?' In England it mill formed a considerable part of
our circulation, ihcre being iheu no circulating paper ,
under five, and only to a small extent, uuder ten pounds. j
The first cffect of this restriction was, to add lo I lie pa- ,
per circulation bv enlarged issues, not only from the na- [
lioual banks of England and Ireland, but also froin all
the country banks. This addition continued gradually j
to increase, and especially in the notes under five (
pounds. Every increase for the first, two or ihree years j
was a diminution in the value of money, but nol a dc
vrcnation Wt.v ! Because the gold left the country,
a* the paper became its substitute, and by tins process, (
the exchanges were kept at or near pur. I lie e - |
feet of this exportation of our coin was everywhere to,
lower the value of money, and by so doing, to keep it j
upon a level with its diminished value in this country. I
"In the progress of this operation the United King
dom was drained of all .Is gold. There would, bowev
er, have been no real depreciation of the paper substi- j
luted in its siead, if. by imposing proper bunts upon the
issues of that paper, the par of exchange with foreign ]
countries (which is necessarily equivalent wuh the |
standard of the gold coin in this country) had been made
the criterion of its value. But the issues of paper not
being confined within those limits, depreciation took
' " The consequence, therefore, of the bank restriction
was two-fold first, a diminution in the value of mo
ney generally, but without depreciation; and second
ly, a depreciation specially superadded m this country,
the degree of which at atiy particular period was the
diffeicnce between the standard and the market price of |
"old. Bv the first result, the price of commodities, in
cluding of course all ihe raw production* of the soil,
was raised generally. 11) the second, tins general rise
of prices was carried still further in tins country, in pro
portion to the depreciation. The actual depreciation,
therefore, as it was not ihe sole cause ol the rise ol
prices (speaking now of that rise only in as far as it was
influenced by changes in ihe value of money) during
the war, so it cannot be taken as the measure ol the
fall of prices since 1819, unless we could have got rid
of the depreciation without recalling into our own use
a part of the gold which had been ex|?rted, or in
any degree diminishing the extent in which credit had
become a substitute for actual payments I bat tall
must be still greater, if, instead of importing gold for |
circulation here, the greatest part of it has been with
drawn from circulation in other countries, to be buried
in tlie vaults and cellars of the bank. The proportion
of the rise of prices generally during the war. and of all
since the peace, not in England only, but in all oilier
countries, froin these alternate operations, may be diffi
cult to estimate ; but it must be considerable ; and the
more so, as other countries, as well as England, ha
also a depreciated paper, and have since endeavored to
rcpluce it by a metallic currency.
In a specch delivered by him on the lO.h day of |
February, on the Bank charter bill he said ;
?'If they wished for a proof of the value of a steady,
unchangeable currencv, they had it in tho example ol j
France That country had been twice invaded j twice
had her capital been taken possession of; and she had
been compelled, in 1816 and 1817 to pay large sums to
foreign countries for corn. But she had a steady me
tallic currencv ; and however such visitations might
have affected the great?however the extensive con
tractor might have been injured or rumcd-lhc g ?a
body of the population remained unmolested 1 h.
storm which uprooted the forest tree, had passed over
without injuring the humble reed ; and this was mainly
to be attributed to tho permanent footing upon which
the currency of the country had been placed.
"If the plan of his right honourable friend car
ried into execution, lie was satisfied it would have he
effect of making the country banker as sensitive on the
subject of the exchanges, and as watchful of any unfa
vorable turn winch might lake place in them as h
Bank of England now was, He-would carefully watch
the circumstances which were calanlated to bring gold
into, or send it out of, the country ; and this caution be
ing timely impressed upon him, the danger would in a
measure, lie passed. There would then be no fear of |
any agitation or convulsion in the country, as the inte
rest of every banker would compell hun to provide
himself for any coming emergency; m Other words
everv country banker would feel an equal interest with
tlu Hank of England, in watching the state of the cur
rency, and guarding against its fluctuations.
44 If then, it was nectary, for the best interests of ,
the country, that the currency should be established on
a sound and solid foundation, and that the country
banks should lie prevented from drawing the metallic
currency out of the kingdom, by the issue of these
small notes, the next question was?whether this was a
proper time for carrying the messure into execution ?
But before he touched upon this, perhaps it would be
proper that he should make one preliminary observation
respecting tlu- country banks. Vie was far from being
hostile to these banks. On the contrary, he though
they would be of great service to the country, provided
thev were placed under projier regulations He wi.-hed
to save these banks themselves from tho consequences
of their own proceedings?from the liability of each
?o be ruined by the failure of the others. But, lo
effect this, they must be prevented from issuing pa
per as low as the highest denomination of the metal
lic currency of ihe country. They must not be permit
ted to wsue their one-pound notes?corresponding with
ihe sovereign?the highest denomination or metallic
currency. To give them tlie prn ilege of making such
iiihdcs wss, ...fact, to permit them to assume the pow
er* of the prerogative Ut them continue to t?^
per, and to extend an act upon (lieu credit; but let the |
not issue their small notes, aud thereby trenih [ j
the prerogative."
In the same debates these opinions were conned
in by many other distinguished in , js jri
prevailed. This bill as 1 ^ " ?n(i.ltj(,ns of the
strict accordance with the rcc"'1' 1 iburv, 'he
late President Mr. , ?f im31 before re
Committee of Ways nnd r ? policy of the
terrcd to and in lact was "|his >nd ,0 supply
late adminiijratton. l p^ fc| )han , am |
arguments of more Ore ^ ^ ^ Jarkwn', Me-s j
Mg'^of Dcccinb.T, 1*34. Speaking upon this subject. |
he says: " Those institutions, (the State B inks,)
hive aire idy shown th-ms-lves co.np'tent to purchase,
a ui furnish dom'stic e.echang for the convenience of
trad', at rtasomble rat:s, and wit a doubt it entertained
th it in a short p.nod, au. tub wants op the coc'ntjy
iv Disk accommodation* and bxchamok, will be sup
plied as promptly and cheaply as they have heretofore
been by lie Bank of the United Stales If the several
Stales shall be induced gradually to reform their bank
ing syst-nu,and prohibit the issue of ai.i. smaij. wires,
We sh ill in a few years, hart a currency as sound, ami
a - litUe li'M ? to fluctuations, as any other com.nerciul
count ry,"
In Ills annual message of December, 1?33, Gen.
Jackson saiii;
" It is also ascertained, that instead of being n'crssa
rily ottds to promote lh-. evils of an unchecked paper
system, the management of the revenue can be made
au ciliary to the reform which th- Legislatures of seve
ral of th,1. St U s have already comnrnc d in regard to
to the suppression of small bills ; and which has only
to be fostered by proper regulations on the part of Con
gress, to secure a practical return, to thr extent required
for th' security of the currency, to the constitutional
medium. S-vered from th' Oooerwuenl as political
engines, a id not susce/di'de of dangerous extension and
cam'niiation,th ? Stat? Banks will not be tempt d. nor
will th-y have th- power which w- have seen exercis'd,
to dicrt the yublic funds from th? leg it until'- purposes
of li: (J)orrn-n-iii. Vie collection and custody of the
revenue being, on the contrary, a source of credit to
th'm, will increase th" security which th' States pro
vide for a faith fu' eje rut ion of their trusts, by m iilti
plyina thu scrutinies to which l.'i ir op rations ami ac
counts will b~ su'ipclcd. Thus disposed, as well from
interest as the obligations of their charters, it cannot
be doubted that such conditions as Congress viny see fit
to adopt res/iectiHg lh ileposites in th-sc institutions,
with a view to the art/dual disuse of the small bills, will
be ch :rfully complied with; and that w shall soon
gain, in place of the Dank of the United States, a
practical reform in the what* paper system of the coun
try. If, by this policy, we enn ultim/iMy witness the
suppression of all bank lulls below twiUy dollars, it is
apparent that gold and silver will take their place, and
become th.- principal circulation: medium in the com
mon business of the fanners and Mechanics if the coun
try. The attainment pf mch a iiesvi.t wiu. fobm
an era in the history of our country which will ba
dwelt upon with ocmuht by every irue friend ol its
lib'rtv and imdepexdkncr. It will lighten the gre <?
tax which our paper system has so long collected
from the earnings of l?.b >r, ui.d do more to revive
and perpetuate tho>e habits of economy ind simpli
ciiy which are so congenial to the charrc er of re
publicans, than all the iegisl ttioti which has yc. bocn
attempted."
This pi in will so imperceptibly retrieve the pnper
and in roduce 'he met 11 ic circulation as to produce
no: ihe slightest shock or erob rrassmeot in the com
merce and b isiness of the country, or reduction in
the value ol property. Property,the value oi which
ha b'en retaliated bv the present currency, will re
tain its existing standard, and the country gradually
recover from its depressed and ruinous condition.
It may be argued that the full excess of paper cir
culation will be kept up bv the enlarged issues of
notes of the larger denomination?this cannot b_' so.
The commerce and business of the country can only
b^ar a lixed amount of circulation?all excesses must
anil will b * reduced?I fixed amount ol money can
only b ? necessary to the commerce and business of
the country. Of that fixed amount, as specie is en
larged so must paper b; reduced, and as specie is
reduced so must paperS -enlarged, as the plan which
1 propose requires a mixed circulation ot metal and
paper ; I propose to reach sucH a proportion of the
metallic, as will make certain the convertibility of
pap M- iu'o specie, which will always secure a sound
currency. These are the objects which 1 have in
view, and I confidently believe the scheme which 1
have (iff'red, will effect it.
Mr Chairman, this bill I firmly believe, with
the aid of some provisions which may bi; attached to
it, ndap'cd to the present emergency, is well calcu
lated speedily to remove the embirrassnients of the
country. Sir, as I have argued co'ifidcnce is all that
is necessary to en .ble the bin Its in. a short time, to
resume specie payments, this bill extends that confi
dence, holds out to them a strong inducement to re
sume, and promises a restoration oi their fiscal
agency on that resumption. This, sir, is bitter than
all your penalties ana all your divorces.
Mr. Ch tirtnan, I well kn'o w that toeffect the objects
of reform which all desire, the aid of the State Go
vernments must b; invoked. This aid I do not doubt
will bj afforded, not only from considerations of
patriotism, but of Interest; for every State is deeply
and importantly interested in securing a sound cur
rency*. both as relates to their own domestic concerns,
aud their commercial connection with the other
States. They cannot flourish?they cannot prosper
without it, and this is a guarantee that as the errors
in their systems devclope themselves they will cor
rect them. Sir, 1 do not doubt that they will perform
their duty to themselves and to the nation.
Mr. Chairm in, I have heard much play, and much
emphasis upon the term divorce of Bank and State.
It is calculated to call up those feelings of abhorrence
agajnst the union oi Church and S^ate, out of which
so much mischief to the lives and liberties of man
kind has grown, which the people of the United
States so justly entertain. Sir, are not these institu
tions the very creation of Government"! Did not
Government impart to them form, substance, and
action; and now we are to divorce the Government
from them ! I know, sir, that these institutions were
created bv the State Governments; vet, sir, unless
all their powers are buried in the powers of this
Government: they were created by Governments
having- the power .to do so. This political connec
tion, so much desecrated .and ; bhorred in these latter
days, is as dangerous to the Slate Governments as to
this, yet the States do not find it necessary to destroy
their b inking institutions; and 1 am sure, will defend
them against the reckless war now waged against
them. Sir, this term divorce will not take?you had
as well talk of a divorce between man and wife,
while they are indisposed to it.
One word more in relation to the suspension of
specie payments by the banks, to show the propriety
and wisdom of the measure. When the suspension
took place, it was supposed by many, perhaps by
most persons, that upon its being known in England,
there would b3 an immediate prostration of the com
mercial credit of the United Stales, and, as a conse
quence, the destruction of the houses in England,
commonly known by the name of the American
Houses. But no such thing happened. Confidence
was not diminished, but improved. They saw the
thing at once in its true light?they saw it was a
measure of relief to the merchants of the United
States, which would give them time to gather in
their resources, and finally make good their pay
ments in England: Whereas, if the severe pressure
necessary to continue the payment ol specie by
the banks, had been kept on, they must have been
ruined, .and through them the people who were in
deb This was a sound view of the subject. In
addition to this, the S ates continue to use them as
depositories, and to receive their notes in payment of
their taxes. Why, then, should there b'J so much
alarm here 1
Mr. Chairman, I admit that there are serious evils
connected with our binking system. I admit that
there are crying andgrievous abuses, which require
to be corrected; and 1 will go as iar as any man in
applying the knife and cutting these abuses off. Nor,
sir, am I disposed, in the slightest degree, to counte
nance the refusal of the banks to resume specie pay
ments in a reasonable length of time. While the
country may b** disposed to endure this state ol things
as long as it is necessary and proper, it will no'?it
ought not to b >?r a wanton and unnecessary delay.
The foreign debt is rapidly extinguishing ; the elas
tic energv of the country is rapidly increasing, and
overcoming all einbirrassments: soon, very soon, all
pretext will be removed for continuing the suspen
sion, and the banks will merit the stern and wither
ing rebuke of every patriot, if they persist m their
refusal. Sir, my course upon the present occasion
is not dictated by any interest which I take for the
binks, separate and apart from the people: I only
look to their interest and their security.
with that of the people, so deeplv 'nv^ed Hl'^
them. I consider the interest and welfar?' of the
people as deeply and materially concerned, and their
prosperity endangered. ,i.?
I nave thus Mr Chairman, presented to the com
mittee mv views of this deep, this vital, this interest
auction to thi. nation. I have exhibited the
oufnions entertained by the late Administration, and
X prominent friends of the present; and having
(I,,J. M, confidently and fearlessly appeal to the
American |>c<.ple, to determine whether I deserve to
b- stigmatized as a traitor, or shot as a deserter. Mir,
if an adherence to the opinions heretofore entertain
ed bv the friends of the Administration, notwith
standing they have abandoned them, is desertion, I
am guilty, and will meet the fate which awaits me
without murmur My opinions are unchanged and
no fear of personal conseouences shall change them.
My constituents arc unchanged, so far as 1 have
learned ; at any event, they have not instructed me
to vote contraiy to my former opinions, and until
they do, I will vote against your Sub Treasury
seheme, in spite of denunciation, or any other con
sequence' which may follow. 1 regard that scheme
as containing the elements of destruction to the
purity of the Government, the rights of the Suites,
and the liberties of the people. Sir, so obnoxious is
it to me, that although there is no constitutional ob