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' ' ' I i I i l . yaaajs I
a-
VOL. ZXIX ; -NOIB
ZtALHIGH. N. C. WEDNESDAY, APIIIL 4, 1030.
WlA , ' .. .
TII0A9 J.
tor"? .mounll lb. ,rS
of j5j pr -t. r,ll b mte from -b.
SPEECH OF Bill. Ct.Al
., ., "
Xgnl-Triinrjr Bill:
fleUvered totl" 8eaU, Feiruarg 19, 1838.
. . i'wtJudeil,'
A moot rrutjrKable featare in ihe bill
. .v... uhuh I hav alrfatlr tilled
.1.. attentioH f -Ue Senate, and I
which n Mtifictry eiplanatiun hat
jn pun. It i;ut which procecta
upon ,h leary
thini iifiiu t frnrn thu Tr aurt of the
United Slates. nl giv to the Trea
urf a Io al hm?'mn and a name. In
the new buil.ling whrh being erect
ed fur the TriryTepartment in (Ue
in conMitateii. i be placed "that iMt
tmreof the nulilic revenue, which is
rleaned from the District of Columbia.
A!fele. that is to say, nine hnmlrrc'
..aaiTMnfttj
lie revenue of the United btttes, is tuT
te"pticetl in the bunds f the reeesers
ond Ihe District f Catnnibia. Now,
the Constitution of the United States
nrovidei that no money shall be drawn
Irom the public Treasury, but in virtue
of a previous appropriation bylaw.
That triflins itortion nf it, therefore
which is within the District of Colombia,
will be under the safeguard of the Con
titution, and sll ele will b at the ar
bitmry disposal of the S-cretaay of the
Treasure.- .. ' "" - V'
' It was di'emd necessary, no doubt,
to et in the Serretary of th I reasu
rr this vast and alnnning discretionary
pewer.:-A new and immense Govern
ment bank is aboot to be erected.
How it would work in all its parts
rould not b antiripated with certain
t?j and it wa thought proper there
lore, to bestow a discretion conimntt
nle wi'h novelty nd complexity,
and adapted lo any", es'gnries which
(uifrhf Hiie. The (Dili section of the
.bir that in which - the powrr,to cre
atetbank i ni'ire isr 1 ularly confer
rrd. It is fhort, and I will read it to
the Senate: ' . - (
"8w 10. .lid be itftu thfr enacted. That
' shall be lawful " the 8eertry of the
Triwr '4lrunftUeoa)iuutbe hanili
of any dcpmilary hftfby conilnled, t the1
I remiury of the Ooilrd Mateaj lo the Mint at
PhilauVlphiat to Ihe Bmnch Mint at New Or
Wan or to tli offioea.of either of the recei v
en gtneml of public moneta, b lltia act dl
rtctcil lo b, appniolrd-r to.be there aafrly
kept, aceonlinjT la the provision Of ilria acti
al ilo lo trnftr moneya in the hands of
atjr ne depositary coiMttituted by this act to
any oihrr depositary constituted by the same,
at hit discretion, and aa Ihe safely of the pub.
l e mnnejr sml tlia C4iieenienee of the pnt
, I e service, shall seem to lltm to require.
And for Ihe p lipase f payments on the pub
lic account, )t shall be lawful for the said Sec
fetary to draw upon auv of the said deponita.
rie at he may Hunk intuit conducive to the
public interests, or to tliecoiiyenUuce of the
.(.ublic wmlitort, or botliV .. ,i
It will be aeen that it cr&nts a now-
t-er; perfectly und(ftned,ta the Secre-
lary.Ot lim 1 w .nn- la nl.ilr anil
transfer the public money, from depoai-
tary to depositary, as he pleases. He
s expressly autoouzed to transfer
moneys in the hands of any one de
Penary consdtut-d by it, at hisdiscre-
tmn, and as the safety of the public
moneys, and tlie convenience or the
public service, shall seem to him to re-
q'l re. There is no specification of
any ioniingney or , con'ingeneira on
dch he u.. All is (eft to his
o'Wetiun. lie is to1 judjje when the
public service (and more indefinite
term could not ha ve been employed)
Shall teem to liiui In ri-nnno il ' ll lius
wen said that fhi 'a m.tiiinir n.nr than
' customary power of transfer, exer-
, 1 reasu ry Department from
'"""giaoi theUoverninent. I deny
... nneriy ueny it. If is a ittall di
-rent p.,wer from that which was ex
rcised by the cautious Gallatin, and
Secretaries of the Treasury- a
Power, by the bye, which On more
th:in line nrri.lm.. kkt, w.lmii.r.
Jf '. and which is infinitely more ques
5'ODSDIe thin the, nnwrrUa ethlish a
"nk of the United States. The trans
r M m'le by them rarelv. in laree
u.ms, and were left to the banks to re
tk'r' "nM payments were made,
".'!, were erTecled in the notes of banks
w,w hich the public mopey waa de-
Ped. or to which it was transferred:
p -llltll II WWIISIlBICirCU. I Vl I. wn. w ...
tOe rates of '.vikin .uap. .0I.i..1iiii I, ... ininwn!pnt rpalrirtinn ill a
y the state oC th market; nd under ! country yehere-every description of pa
e responsibility of the banks." Bat'per iminrsing ait obligation to pay mon
sohr ' lMwer't',,,n t transfer the ey br'deliver property is assignable;' at
P'Wic moiieya without limit, is to sum, law or in equity .from the commercial
Pee, or lime, leaving f very thing to nature and trading characttt-fiLiwur
"'!'scretion of the 8ecrefary of-peoplel t
2. Jr.eM0,7. he receivers "general Of all the faculties which I 'have
U il V TnfiriM'- What a scpe atated of j bank; that which creates a
, , ",n I'l HIV rSUCSK.
. W'lthvr lit wtiniiiM' ar iimmmiil, l llrW. It-tsj tnnl m Which 1
, ' r- .5 ,MC oai.ry, is exeri- ev i'otauiei iiiscmini.arjuauc m- t " " i .... r"V ... ' , ' r rr I . - i - 7 . .i . 1 i s.i. l l r .u' to i. r
:'-M'tV.sa V m ..t; m V. ij." .' ' -' . i .-WAC-lJ!.sv;,.,.; .; '"'1 , 1 JZ? J$ Vffr w'-, .'
v - . t.- . V--i - -ff V x . JS' tV-tf e--st" V V'"'"'-'
chmi. ..i-ii,. tl 4 . .-i: . i -.i. i.-.i ;i.i,.iin.M.i)iit ..vnavmBt.iaxaiiMneii it as it ib ' not re dmi s us imentcivu. eoiiNeoua-anu sreniiematf i cases i Mcrvrs anjuwiercimiisvsiwwiav
i ."jaaiais ua wnoiff niimasiiToiHiRanHR iiibt ua? mirrcnici,. viiv bct-ti,iu.h',-"i r vv
fers were TifiTlmade1 ,for disbursement,
hu tMprepara tory jo jdiybu raemen I ;
an'3 wneB disburaed, it was T generally
in nan K ..note. I he transfer of tlis
bill are immediate p.tjments, and py-
inents made not in bank notes, .but
Ihe last paragraph in the section"
provides that, for the purpose of pay
menra on ine ptiDtic arcount. it shall o
lawful for the Secretary to draw upon
any of the said depositaries, aa he may
think most conducive to the public in
terest, or to theeonvenienceof the pub
lic creditor, or both. It will bo seen
that no limit whatever is imposed upon
the amount or lorm or draft, or as to
the depositary upon which it is drawn.
lie is made the exclusive judge of what
is "most conducive to the public inter
est." - Now,, let us nauae a moment.
and trac the Operation of the powers I
thus vested. I he Otvernment mi aToccatiion vast amounts ot the species ol
revenue of from twenty toHhirty mil
lions. ,;TJie Secretary may draw it to
any one ormore points, as he p'easea.
More than a mnirtf oi ijte revnue.ari.s
iog from customs is receivable at the
port of New York, to which point the
secretary may draw all portions of it
i . . .i ..
Hf he think it conducive to the pubKfcLSiSietary of the Treasury. What a
interest A man has to receive, tinder
an appropriat'tDw laHrRIOOO, and ap-f
p ivs w wr secretary lor payment.
Where will you receive it? he is asked.
On New York, 'How? In draits from
S3 to 5000. Mr. Secretary i. will
five him these diafta accordinlyr up.
on bank note paper, im pressed like
and stimulating bank notesr having all
auitab'e emblaxonry, signed by
fiiend the Treisurcr,"fwhose ecel
lent practici l sense, and solid and
sound judgeiiti-nt, if he had been at the
head o' the l reasu ry, instead ot Mr. i
Levi Woodbury, when the suspension,
of specie payments took plare, .would
hate relieved or mitigated the pecuni
ary embarrassment of the Government
and the Peop'e.j countenigned bj the
comptroller, and filled Up in the usual
way of ba k ; notes. J Hore is one -of
them, said Mr, Clay. 4 --LIU here held
up to the gaie of the Senate a Treasury
note, having all the appearance of a
bank note, eolored. engraved, and e
ecuted like any other bink note, for
S450.T JThia, continued Mr. CUj? is
a Government fnote, put into cir
culation, paid ouC aa moueyand pre
pared and sent forth, gradually to at
i u stooi the People of this country to
Government paper.. , ,
' I have siiimosed gtO.000 t be re-
Lceive! in the vmode stated by a person
entitled to receive jt under an appro
priatioti law. Now, lejt us suppose
w hat he M il I do with m Any where
to the South orWct it will command
a premium of from two to five per cent,
. , I HLi
row nere vn jne xniTeur aiateay wiir it
be? under par. Do you suppose that
the holder, of these drafts would be
find enough to convert tbem into spe
cie, to be carried and transported at
his risk ? Do you think that he wouldfwwnium ol five per ceut-; on St. Louis
not prefet that this money should be
in the responsible, custody of the Gov
ernment, rather than in his own inse-.
cure keeping? Do you think he will
deny" to himself the. opportunity of re
alizing the preimuin of which he mfty
be perfectly sure? " The greatest want
of the country is a medium of general
circulation, and of uniform value eve-
where. That, especially, is our
wanC in the i. Western ' and interior
States -Now -her iaxactly.
J- . . - . -L-
nte,fllomi a'l", aunpnsing tup iiuvern.-
ment bank to be honestly and faiiliful
ly adtuinisrered, it will, during Surh an
adiniflistratinn, be the best converti
ble paper money m the world, for two
reasons: "The first is, that evtry dollar
of paper out will be the representative
r 'i ii .i i i . j
ir a uoijar m specie in ine nanus oi
the" receivers general, -or other deposi
tories; and, secondly, it the .receivers
eneral -should embezzle the uublic
money, the responsibility of the Gov -
ernment to pay the drafts issued upon
ine basis of that money would remain
unimpaired. The 'paper', therefore,
would be as far superior to the paper
of any private corporation as theabili
ty and resources of the Government of
the United States are superior to those
uf such corporations. "
The banking capacity maybe divi
ded into three faculties: depositea.
discount of bills of exchange, and
primisory notes, or either, and circula
tion. '1 his Government .bank would
combine" them all except that it will
not discount private notes, por receive
private deposities. V In "payments' for
the public lands, indeed individuals
are allowed to make deposites,
and to receive certificates of their
amount. , To guard against their ne-
Sntiabiliiy, a clause has been introd
uced to t render them unassignable.
It... k.ur ll will Ka miaftiril tn m.int, n
fclltUI,U'"t ,1. IH HIW.I imjm ii ....
emment a?reea to receive in payment
of the public dues is a medium of cir
culation, IsmbneTrcurrent money, do
matter what its form may bek Treasu
ry notes, Urarts drawn at Haahintoh,
by the Trasurer,-o vhe receiver gen
era) at New York, or, to use the lan
guage employedin various parts of
this bill, "such's,; bills, or paper,
issued under I thoritybf 'the UnK
ted States." tooke various provisions
were probablyerted net only to cover
the case of T .ulsury notes but that of
these .draltsffii due season.: But if
there were no express Drovision on aw.
! that these drafts should be fcenrable
in payment of public dues, they would,
necessarily, be so employed, from their
own intrinsic value. " ' C, ,
The want of the community of a
C?neral circulation of uniform value
everywhere in the Ujtlted-Statee would
drafts which 1 have deacribed tore
main in circulation. The appropria
tions this yrar will probably fall not
much short of thirty millions. Thirty
millions of Treasury drafts on receiv
ers general, of every denomination, and
to any amount, may be issued by the
mount would remain in circulation
-a anot-be4d etermineifo "frferij-l tup;
psc not leaalhan ten or ntteen mil
lions; at the end of another year,
some ten or fifteen millions more; they
would fill all the channels of circula-
iw JThe war between the Govern
men fa n JTIaT"tlankii" ctmtinutngctp
tuts mammoth Government bank being
in th market, cons'antlj demanding
snerie tr its varied and rami bed ou-
erations, confidence would be lost in
the notes of the local banks, their paper
would gradually cease to circulate.
and the banks themselves would be
crippled and broken. The paper of
the Government bank would ultimate
ly fill the vacuum, as it wouldinstantly
occupy the place of the notes of the
late liank of the United States.'
' 1 am aware, Mr. President, that by
the 25th section of the bill, in order to
disguise the purpose' ol the vast ma
chinery which we are about construct
mgj it-is provniett inai ii snan ue ine
duty .of the Seczflarj -.of .the Treasury
to issue and publish regulations to en
force the speedy presentation of all
Government drafts for payments at the
piacv wiictv pajamr, ck.c. ji,w, unn
a tremenduous power is here vested in
tt.e-'Secretary! - lie is ;tn prescribe
rules and! reiolations to enforce the
-I .... r ... ' mer " .
speedy presentation of all Government
drafts for payment at the place where
payable. I he speedy presentation :
lo .the case I have supposed, a man
has his 810,000 in draltson the receiv
er general at Neve 1 ork. The Secre
tary is empowered enajslj-eguJaXionB
requiring mm speeuiiy to present mem,
ami, if he. do not,' the Secretary may
order them to be paid at St. Louis.
At. New York they may be worth a
they may be liable to a discount of five
per cenu iow.ina iree uovernmeni,
who would ever think of subjecting the
property or money pf a citizen to the
exercise of such a power by any Secre
tary of the Treasury? What opportu
nity does it not 'afford to reward a pur
tisan. or punish an. opponent? It will
be impossible to 'maintain such an odi
ous and useless restriction, for any
lenstli of time. :- Vv hy should the debt
the
r U .l..ft. o 1 l,.o c..r.n.raa.Tr
mjulu inaiia m i u.ufi..
require his creditor fas the holder of
the-ilraft would be; to apply within a
prescribed tim for his payment? N,
sir the system would control you;
you could not so control the system.
But it such a ridiculous restriction
could be so continued, the drafts
would, nevertheless, whilst they were
out, be the time long or short, perform
J the pthee of circulation and money.
1 Let us trace a little further the op-
i eration of this Government bank, and
follow it out to its final explosion. I
have supposed the appropriation of
some thirty millions of dollars annual
ly by the Government, te be disbursed
in the form of drafts, issued at Wash
ington bv the Treasury Department,
upon the depositaries, in that amount,
some ten or fifteen millions would re
main, the first year; in circulation; at
the' end of another year, a similar a
mount would continue in circulation
aiid so on, from year toy ear, until, at
the end of a series of some five or six
years, there would be in circulation, to
supply the inlrspensablejyants of t orn
merce aod of a general mediun of.uni
fornt value, not less than some sixty or
eighty millions of drafts issued by the
Government. These drafts would be
generally ujon the receiver general at
Newejfork.cause.n that 'point,
they would be preferred Over all others,
as the would command a premium, or
beat, par, 'throughout -the whole ex
tent of ih United Statest and wo have
seen that, the Secretary" of the Treasury;
is fn Vested ; with ample authority to
concentrate at that. point the whole
revei.tte .of Ihe lnitef Stale v .
AlUexpVr'usnce hasr demonatrated
tliat rjf bliiking.operatMins i mueh lae
irer anWunt of paper can be kept -out
in circulation .than the speese whiclrit
:..A....l.r.1. :mMmA i in. hi ' war! It a
iijr4aid ' ia -the ,? aJalttJ
presented
pefienre has ascertained to be. entire
ly safe are one" ef specie to three of
paper, . u, mere lore, tne txecuuyjt
Government bad sixty millions of did
lars accumulated st the' port of New
Yok, in the hands of the receiver gen
eral, repreaented bv sixty millions of
n.i...Amaill (trail. ! a !...... ' .
uirwi iiiuviii Vlltlia ,M b.llKUIlllJI,. II
would be knswa that twenty of that
sixty millions would be' sufficient to
retain to meet 'any. amount of, drafts
wiiii.il, in uruinary .iiincs, wouiu. oe
presented for payment. . There would
then remain: lorty ." millions iu the
vaults, idle and unproductive, and of
which no practical use could be made.
Weill a great election is at hand in
the State of New York, the result of
which will seal the fate of an exiating
administration. If the application ot
ten millions bfthat dormant capital
could lave, at some future day, a
corrupt Executive from overthrow,
can it be doubted that the ten millions
would be applied to preserve it in pow
er? Again: let us suppose some great
exignry to arise, a season of war,
creating severe financial pressure
and embarrassment. Would not an
istue of paper, founded upon and ex
ceeding the specie in the vaults, in
some such proportions as experience new system requires, I think I have
4nonattedmght bes
be authorized? Final.lv, the whole a- employees lo have it executed. And,
mount of specie might be exhausted, notwithstanding the modesty of the in
and then, as it is. easier to engrave fant promises of this new project, I
and issue bank notes than to peiform have no doubt that ultimately we shall
the unpopular odiie of imposing taxes have ' employ a number of persons
a4burdhiwvwywoul(r-b"atrp
made that the credit of the Govern- ed in France. That will undoubtedly
ment was i sufficient basis whereupon be the case whenever we shall revive
to make emissions of paper money, to
be redeemed when peace and prosper.
ity returned.' Then we should have
the days of continental money and of
assignats, restored! Then we should
have that Government paper medium,
wbich the Senator from South Caroli-
a-T-Mr; Calhoun J considers the most throne, which had been recently con
perfect of alt currency! ' -atrocted or reascended. I thought,
Meantime." and durin? the progress
of this vast Government machine, the
State banks would be all prostrated,
Working well, as it may, if honestly
administered, in the first period of its accordingly, upon looking intoSmiih's
existence, it will be impossible forjVistory of fTis own State, i found that,
them to maintain the unequal' compe-"
tition. " Tliey could not maintain if,
even if the Government were actuated
by no unfriendly Xeetingj 'towards
newMa- wms we; know the spirit "Among the principal laws enacted at
which animates the present Executive this session, we may mention thatfr
towards them, who can doubt that tliey establishing tU revenue. mwVicH was
must lal I in the .unequal contest? drawn into precedent The sums rais
Their issues will be discredited and ed by it were made payable into' the
discontinuancei! and that system of hands-of receivers general, and issued
bankruptcy which the President would by the Governor's warrant. Uy' this
even now put into operation against rh -ana the Governor became, for a seat
them, will, in the sequal. be passed son- independent of the people, and
and enforced without difficulty. hence we find frequent instances id
Asjniminjr the downfall of the locjLthejAAero. with him
hanks, the inevitable consequence of
the operational of this great Goven-
ment bank) assuming, as I have shown government " The then Governor of
would be the case, that "the" Govern- the ratunj was a man of great violence
ment would monopolize the paper " is- nf.temper, and arbitrary in fiis con
sues of the country, and obtain the ducf. IIow the Sub-Treasury system
possession of 1 great ' portion of the of that day operated; the same histari
specie of the country, we should then an informs us in a subsequent part of
bthqld a combined, and coocentraled hi work; "Tha revenue," he says,
moneyed power equal ' to that of all 'established 'he last year. wa i at this
the existing banks of the United session ntinned-: five year loHger
States, with that of the late Bank of than was originally intended. This
the United States superadded."- This was rendering the Governor independ
tremendous power would be wielded ent or the people. For, at that day.
by the Secretary of the Treasury, sc the Assembly. had no treasure, but the
ting under the immedtat commands amount of all taxes went, of course, in-
of the President of the United States,
sword and the purse) here would be no of this fund, uwmeys were only issua
Imaginary, but an actual, visible, tan ble by the Ojvermar's warrant, so that
gible, consolidaiion of the moneved every officer $n the; government, from
power. Who or what could with- Mr. BlaiihwaiC who drew annua ly 5
stand it? The States themselves per cent, out ot the revenue, as auditor
would become supptianta al ike feet general, down to the meanest servant
of the Executive for a portion of those of the public, necairie depemlent. sole
paper emissions, of ihe power to issue It. of the G tvernor. And hence we
which they had been striipvd, and find lha House, at the close of every
which he now eielttaivrly possessed, jsession, humbly addressinkhis excef
Mr. rresident, my observatHn and
experience have satisfied me that the
safety of liberty and prosperity con -
sist in the division of power, whether
political or pecuniary. In our federa
tive system, our', security is to be
found in that hfnpy distribution of
power which exists between the Fed
eral Government sod the State Gov
ernments. In our ijHionet;iry sys
tem, a it lately- existed, its excel
lence resulted from that beautiful
arrangement, by which the States had
their institutions' for local purposes,
..!.. .i ..u it..: -'i-i
oi ine wi.mc S.IIIHHI. snere .existco
theereatest congeniality - between all
the parts of this julmiriable system J
AH was homogeneous, -there was no
separation of the Federal Government,
from the States or "from the People,
There wa"S no attempt U execute prac
tically that absurdity of sustaining a
mongthe sami People., two differetW
currencies f . unequal value.. " Apd
hw admirably did the -whole system,
tforing the forty ) ears of iu existence,
move and vwiykf VAnden the two its.
fortunate ocrasioiisof ju ceas'iiig o
exist- hw quickly did Jjusipess
and transactions of lha country run
ibio wuu otsoruer- ami , uicer-. coniu
SHn:
A. Hitherto, t havi eonsiderriL'ilni
new project as i 4. according to JtC
tru naurrojiinj cniratter, ana wnat jt
&at iey rta Wy beeohie. bavsrxrt
They bold out the idea that it is a sim
it a r contrivance t collect, to keep and
lriabttrie"'tha : pwblic'yyAae. " In
that view of "it, evirrTrifwreration
of safety and aecuiity recommends the
agency of responsible; r torprations,
rather than the employment of partic
ular individuals. It has bi-en shown,
during the course of this debate, that
th amoutirwhich has ben loat b thr
defalcation of individuals hss exceeded
three or four times the amount of all
that has been lost by the' local banks,
although the sums confided to the rare
of individuals have not been probably
one-tenth part ol the amount th it hat
beon in the custody of the local banks.
And we all know that, during the for
ty years Of the existence of the two
fimiks of the United States, not one
cent wa lost of t'e pubiia revenue,
i I have been curious, Mr. President,
to know whence this idea of receivers
gener.il was derived. It has been sup
posed to have been borrowed from
France. It required all the power of
that most extraordinary mail that ever
lived. Napoleon Bonaparte, when in
his meridian greatness, to displace the
farmers general, and to sjibsiiiute in
their place the receivers eeneial. The
the system of internal taxation. In
France, what reconciled them to the
system was, lhat Napoleon first, and
the Bourbons afetrwards. were pleased
with the immense patronage which it
gave them. They irked 10 hive 100,-
000 dependents to add strength to the
however, that the learned chairman of
the committee on finance must have
had some other besides the French
model for his receivers general) and.
when it was yet a colony; some centu
rv and a. half ag, and when its present
noble capital still retained the imme of
New Amsterdam, the hisnui.in says
for the discharge of debts to private
persons, contracted on the faith of the
to the hands of IKe receiver general
lency lor tne inning wages oi men
own tlerk.M And, Mr. President, if
this measure should unhappily pass,.
the day may come when the Senate of
the United 'States will have humbly to
implore some future President ot the
United states to grant it money to pay
the wages of its owu sergeant-at-aroia
and dimr-keeper.
Who, Mr. President, Ire the most
conspicuous of those who persevering
ly pressed this bill upon Congress and
the American people? Its drawer is
the distinguished eentleman in the
while house not far off; its endorser, is
th distinguished Senator from South
Carolina
Carolina,-here present.. Vliat the.
drawer thinks of the endorser, bis cau
liou reserve and stifled enmity pre
vent. us from knowing. Butthe frank
ness fif ths endorser has not left us in
the sami ignorance with respect to his
opinion of the drawer. 'lie has olten
efpresaod it upon the'fioof-of the.Sen-
ate. on ah occasion not vt rydistauf
denyin'g to him any of the aohler ftuul
ities of .the nyl bc4S. r th for
ne attnuuieu- to inmino wnicn O' lung
A .1 . . ' . I II . I
wane moss craity. most sauiamg, auu
one oflie meanest f ,lhe quadruped
.tribtf.Jr.preiiodern, it Jstlue to md
setfgtj say thatJ.. Mo .iiotv altogether
share with tlia. Senator' front South Ca
fhlWlh- thispioioi4 W tho presidenl
-e .t: rT:i...v a.-t .1 .. ...
fcjynd Kmoi in hinaunefs and delwrt
mansion which be now - occupies, ona
worthy the residence of the Chief Ma-
gistrate "laT'a great people,'! geuerous
and liberal I ospi'ality. An acquaint,,
ance with him of more than twenty
years1 duration has inspired me with a
respect for the man, although, I regret
to be compelled to say. I detest the
Magistrate. ,
I he eloquent Senator from South
Carolina has intimated that the course
of my friends and myself, in oppoaing
this mil, was unpatriotic, and that wo
ought to have followed in his lead i and.
n a late letter ol his, he has spoken of
his alliance with us, and of his motives
for quitting it. I cannot admit the jus
tice of his reproach. We united, if.in-
ed, there were my alliance m the case.
to restrain the enormous expansion of
Ehecutive power to arrest the progress
of corruption; to rebuke usurpation!
and to diive the Goths and Vandals
from the capital; to expel Hrenus and
his horde from Home, who, when he
threw his sword into the scale, to aug
ment the ransom demanded from the
Mistress of the world, showed his pre
ference for gold) that he was a hard
money chiefian. It was by the much
more valuable metal, of iron that he
was driven from her ea'es. And how...
often iiave we witness d the - Senator
from South Carolina, with woful counte
nance, and in dolrful strains, pouring
forth touching and mournful eloquence
on the degeneracy of the times, and the
downward tendency o the Republic?
seen the displays of his lofty and im
passioned eloquence. Although 1 shar
ed largely with the Senator in his ap-
prehension lor the purity ot our insti
tutions, and the permanency of civil
liberty, disposed always to look at the
brighter side of human aflT.iirs, I was
sometimes inclined to hope that the vi
vi I imagination of the Senator had d,
picted the dangers by whit h. we were
encoinpasserhrii someyihattrotger eo-"
lots than tliev justified. The arduous
contest in which we were so long en
gaged was about to terminate in agio
rious victory, The- very ohject fur
which the ulliaore was formed was a
tmiil lo" be acromji1iilied,At lUTs cril
ical nioioi nt the Senator left us; hi
left u for the ery purpose of prevent
ing the success of the ci minon cause.
He took up his jiiusket, knapsack, and
shot p"Ui h, and joined the other party.
He went, hnre,J'uot. and dragoon and
he hiniself coiuposed the whole corps.
He went, as his present most distin
guished l ley -commenced with his ex
punging resolution, solitary and alone,
t he earliest instance recorded in his
tory, within mv recollection, of an al
ly drawing oil' his forces from the
iombined"ai my, was that of Achiljes
at ihe siese ofi'Troy. He wiihdrrW
wTlliaTI his troops, anl remained in
the neighborhood, in sullen und dijrni
fied inactivity. But he did "hot join
TiTsTrottps, and
the Trojan f.rrresj and vihm, during "r
the progress of the se'ge, his faithful
friniil lell in battle, lie raised hH a
veng'n artu; drove the Tnjans back
iuiu the gates of Troy, and satiated his
ven ancer hy al lying Priam's noblest
and dearest son, the finest heroin, the
Mini irfal 11 hid. But Achilles had been "t
wronged, or imagined himself wrongd,
hi th. per.on of the f.iir and beaufifol'X
Bcisi is. We did do wrong to the dis-
tinguished. Senator frora South aroli-
nt. On the contrary, we -respected
aim, confided Jn liVs great i aekuuwl-;'""
ei'lged ebilityHiiwntWH mffrit
his extensive experience, his supposed 1
patciotistH above all, "we confided it r
his stem and infl -xible fidelity-' Nev-1";; -ertheless,
he li ft , Us, and j lined our
conim in opponents, , distrusting apd
distruste-d." He left us, as he t lis &
in his B Igefield letter, because the vic
tory 'which our common arms were a-
bout lo achieve, was not to eiture to him -'
and hi party, but exjlusliiij to tha "
benefi: of his allies and their cause, I -
thnught that, actuated by patriotism,-
(mat nopiest ot numan virtues,; w
had been contending together for our -common
counry,ftr her violated '
right; her threatened.' liberties, her
prosTrate Constitution." Nevfrdid 1 1
soppose mat personal or parry consm-
eritiops "enteiid into our views. W he
thor, if victory sholl ever again b
bout to erch ilpon the stlifdiird of the "
spoils party, (the denomination "which
the Senator from South Carolina has so - '
often given to his pre"! allies.). ha
...in . fi.t u ir ..i.i..:...i k.
win ,iin icciwiinawM uu i "'"'ra,- "J
the principles o whih he- has scted,
to leave thein, because it may noteture
to the benefit of himself and his party,
I have to be adjusted letwen"tlWm:
selves. ' ' t. ' '- '
-; Thepcechf"'jhi Senator from S. I t
Carolina waiptfaaible. ingeniiiuSi.ab
str-act; ihetaphysitsV.linil genraliwng. ? "
It Jid not appear to tno ta be a lspted. .
to the -fosoinS and bUslDes f.bumati
life It" wa rorialr Jiod m. ; ver s
h'gt1 up Jo the air. -Mr.PreBhlenf, er j
lUes ttotiiiiWe so lti"1h"a Mr. Clayton -was
in bis, last a-tcnsmnin his balkin,v
Tip? Senator innduhcidthlt"ther wail
aahtgit.'tltrMvyjiitil. no escap'.,
frin one h thii i th?r iranchTf"tt. Jlw,-
stared that we j take the bill uudef v.
coiisiileratioiCor "lit abtifw pruriov
1...
j s. d by the 8tir fimViiisi'' I
Jd'
uot eonrar tit mat sutetnenr pi int
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