Newspapers / The Weekly Raleigh Register … / Feb. 28, 1840, edition 1 / Page 1
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voiL. xiii. ..ii . .rt 1 .1; I. i Srtii THE REGISTER. Tuesday; febrcaky a5, is4o. Nearly all our space, to-day, is devoted to Mr Ciix's Speech,- delivered on the Snb-Treasury BIB, 'in the Senate of the United States.. We need not invite at tention to it, because every thing emanating from this vWtinguished man, b devoured wi;h ftviditj by the pub lic It comprises in a comparatively narrow compass, all the most Important objections to tola new scheme of the experimenters ; .. , t "'j: WASHINGTON'S BIRTII4AY, Saturday last oeing ne anniversary 01 me mnn es the ittuktriousounder of the Republic, was celebrated in ihisCityVrT Military Par8ile. 5ffiieV,oIuri. -teer Company never :performed better, and the spirit which animated them, seemed; to pervade the Whole eommunity, who vied with eaca'Qther m 'attentions to SilW VUl PROOF UPON PROOF. , Some friend has forwarded us from Washington a late number of the "Boston Lberator"-rthe first copy we have ever seen of that infamous; printcontaining Gen. H ARaisoVs Vincenaes Speech, together with an appeal to AboUtidnists to withhold their support from him. That 8peech,; the "Lrberator"'thinks, shows ban clusivelyi &axth?Old Hero is not worthy of the Abo lition interest. . "They cannot eive him their suffra ge." "ays that paper, "without grossly violating their principlesj'and gmng &e lie to all , their 1 solemn pro- m 2! m i.' . "'-.5' . - sionsj, j. ttT wiii wot do it. '1 hus sneaks tarf ?at Abolition organ of the Union ; . and yet, in, the' face of such repeated evidences of the estimation, in which, he is held by that fanatical crew, ie the attempt made every where, Sduth of the Potomac, to identify himvrith them. -, Such rank injustice must recoil upon the heads of those who are concerned in perpetrating 4, .with teh-foldforce.; , . If:- SHIP AHOIT! s Whilst quietly cruising along on Satirrday last, un der an easy press of sail, a strange, but clean-looking craft,, hove in sight of our good and tight-built Ship, I" the Reg 1st eh." It was but-the work of a moment, to hail its Captain from the main-top, who with the ease of a practical sailor, and the fearlessness of an " old Salt," gallantly brought bis boat immediately along side, its sails all set, and every rope in apple-pie order, the whole evidently fitted up for a long voyage. We fsttinyl nn .nnnipir fw- ...man finrt fmfiVnrw AT. nonimous terms, that the name of the new craft was the - Bsacojc, that it had aboard, a cargo of well i Aorted notions, and that we were both bound for the same destination, though by somewhat different cours es. The usual interchange of civilities, incident to such a meeting, took place, after which, each least off to make its way, in the best manner , it could, to the desired haven. ; . . : Or, in other .words,, gentle reader, a new Political Journal made its appearance in ithis City on the 22d last. It is called the "Caroiijta Bkacok and Mr faopoii.TAH OxHiava," and is edited by E. S. Zsvx- IT, Hisq. a nauve 01 una otaie, ana a practical i imiui, -who, for several years past, has been connected with the Press in different parts of the Union. If there were no other guarantee, that the Editor is fully qualified ibr the duties of the responsible station which he has assumed sufficient evidence is afforded of the fact by the contents of the first number. His style is a pecu- .! liar one, and will; by its novelty and vigor, doubtless .attract public attention. The political cast of the pa- , jyr will h tnrin4y Whig, though the Editor intimates that he will as freely rap bis own party over tbeknnckles, if they should deserve it, as he ' will, take to task his Loco Foco opponents. We candidly confess, we do toot think -there is an opening here for another News paper ; but this may be a selfish conclusion, drawn from unsound premises. ' There is-no telling what talent, and (what is equally important) tact, in connection with energy, industry and a spice of eccentricity may ef fect They may even root out and supplant' u older' not " better" papers. But if they do, the competition W honorable and ihe strhe-Iaadable. We therefore hail our new brother with the kindest feelings, and extend to him the right hand of fellowship. If we "fallout by the way, we think it will not be our tauit. DIOCESE OF SOUTH CAROLINA. Rev. Dr. Gassdxk, long the Rector -of St. PhffipV Church, Charleston, was recently elected by the Con vention, Bishop of the Diocese of South Carolina. me only competitor was the Rev. Stijbh Elliott, Professor of Sacred Literature in the South Carolina College. ; ! j 5 ' NEW JERSEY -CASE. "Resolutions 6f a very strong and pungent character have been reported from a Committee of ihe 'Virginia " Legislature, on the subject of the outragff perpetrated by Congress, ori the rights and sovereignty of New. Jersey. We presume they will pass. j J PUBLIC SPIRIT. True public spirit i not the new-born offspring of sudden occasion, nor the incidental fruit of casual e- mergency, nor the golden apple thrown out to conten tious ambition. It is that genuine patriotism, which best prevents disturbance, by discouraging every vice that leads to it, It springs from a combination! of dis ' interestednessj integrity and content. It is the result of many, long cherished, domestic charities. ' Its sem inal principles exist in a sober love of liberty, law, peace and justice, the best safeguards of the Constitu tion, and the only happiness of the people. THE B ALL ROLLS ON. .The Whigs of Montgomery, Alabama, neld a meet ing a few' days ago,' to give their response to the Har risburg nomination. H. W. Hilli abd, Esq. the able and eloquent delegate in the larrisburg Convention, made a powerful address to the meeting. " Will ye," exclaimed he, " by a cordial and '. enthusiastic support of HAaaisox and; Tylik,, rescue the country from the unclean hands that now pollute and disgrace it 1" " We will," shouted five hundred Patriots.; And they TO TIlE VICTORS, &c. Wrperceive thattheappointment of WiturAJC Sxi- nxs, as Treasurer of the United States, in place of Jouar Camp a sit, removed, has been confirmed by the Senate. - This is so glaring an instance of official mal versation, that the Press should spfeak out ; though oc currences of the kind are so frequent, that they almost cease to excite surprised : . '.Mr.SnDi!r,a man of great personal popularity, was in possession of a lucrative office at Richmond. It was thought that he might, possibly, be elected to Congress 'from that District, and solicitations were ac cordingly made to him. But said Mr. Selden, I can' not afford to part with my office, however desirous I am to serve the party. Oh ! responds the agent of the President (as we may suppose) do you resign and run for Congress, and if you are not elected, ample provision will be made for. you otherwise. Mr. 'Seklen listens to the tempter, resigns his Registership, can vasses the District for Congress, is beaten, and forth with, Mr. Campbell is removed from the Treasuryship of the United States and Mr. Selden takes his place ! And this is only one case out ot many, where proof positive, almost, can be adduced, of the interference of the E xecutive with the parity of the Elective franchise. Let the people remember, that the proper corrective of this, and all other abuses ol Government, is in the ballot-box. ' H Vr CALLING ON 15 CONGRESS.. EpITOU'8 CORRESPONDENCE. ' i " ' J Washikctoit, Feb. 30. . The Speaker announced the subject before the House to be, a Resolution giving authority to the. Commit tee of Elections to print such papers as may be thought necessary to facilitate its investigations" !&c Mr. Fillmore jbeing entitled to the floor", was pro-' ceeding to addressithe House, when Mr. Petriken rose borden stating that it was not proper for a member of one of the Committees to refer in thHouae to what Wd passed in such Committee. - -j;;. ' The Chair decided that it was improper andeon atderable debate arose on the point' of order, Mr. Fill more Insisting on the necessity of his' stating facts in vindication of the 'Committee. ' ". r,Jt- ' Further proceedings were cut off by the expiration of the morning hour. The orders of the daywerftcall ed ; 1 anofafter" an unsuoCessthl effort oMtvJ Oa this appsil, Mr. Briggs was entitled to the floor. After he concluded, the question was then taken on the appeal, and the Speaker's decision was sustained 99 votes to 83. So it was decided that Mr. Fillmore could not read the resolution passed in the Committee of E lections, without leave of the House, i Some objection was made to Mr. Fillmore's again taking the floor on the matter which had been for some days under discussion, on the ground that he had been called to order and had taken bis seat. Mr." Fillmore warmly insisted .upon his' privilege." ; X ' ' " Ttte Chaijr detading; that Mr. F. could not proceed, without leave from the House, Mr, Bell appealed from his decision, ant . tbe Teas and Nays were ordered on the appeal. . . .' ... Mr. Hoileman moved, that Mr. Fillmore have leave to proceed; but Mr. F. replied, with warmth,, tbat nei ther honor his, constituents could consent to speak by permission. Hf would speak, by right, or not at all.! Tl rtf ofungwnr SPEECH OF MR. CLAY, OT KKSTPCKI. ""'J, O N THE S tLB--TJtE A SUR Y BILL. IN ' SENATE Jaxpahx 20, 1840. V Mr. CLAY rose and said : I have' been desirous. postpone them, in order to go on with the pending de- tliand reminded the House that Friday and Saturday, ERCULES. In the annual Message of thaFresident to Congress, he made a great parade about be condition of the country, as being so prosperous nd healthy. Gen. TaoxrsoT, of S. C. in his adminble review of that Message, denounced the reasoningF the President as fallacious, and broadly asserted tlJt his statements were not to be relied on. . He moreover predicted, that in less than six months, a new batch oaTreasury note would be called for. He was soundlyrated by the Administration Press for his audacity, kit mark the sequel ! Only about two months have elaWd, and the President and his Secretary have called upaa Congress to provide means for meeting an anticipateadeficiency in the Treasury, notwithstanding their bocutkd econo my? not only so, but that no time is to belost, in providing ways and means ! hate, the bill from the Senate to. continue the Works on the Red River Raft, came up. '. , Mr. Biddle, who had moved instructions to accom pany the reference of the bill, had the fiodr, but yield ed it at the request of Mr. Jones, Chairman of the Com mittee of Ways and Means, to report a bill additional to the act for the issue of Treasury Notes, which was twice read and committed. Mr J. attempted to have this bill made the Order of the day, every day until disposed of, but did not succ-oed. Mr. Biddle then took the floor on the Red River Raft bill, and continued his address until past 3 o'clock. J He was followed by Mr. Cross, of ArkaraiS and Mr. RiceGarland. ' Mr. Bcatty then obtained the floor; but after making a few ' remarks, gave way for a mo tion to adjourn, j VT RIGHT -OF PETITION.; We noticed in our last the fact, that Resolutions tad been adopted, with great unanimity, by the popuVr branch of the New York Legislature, respecting th. Right of Petition. Since then, we see that the Senate have also adopted mem with but four dissenting voices. The joint vote of the Assembly was, 105 for the Reso lutions and only 14 against them. The Whig majori- In the Senate, yesterday, sundry memorials were presented and reports made ; and on the question of State Debts, Mr. Clay addressed trie Senate at large against the Report of the Select Committee and all the several amendments. ' There has been one of the most enthusiastic Whig meetings just held here, ever witnessed in this coun try. It is said, that so great an assemblage was never before known in this City, on any occasion ; and this too, in the very teeth of the denunciations of the ' Globe,' in advance of the meeting. This outpouring of the people, under the very shadow of Executive power,' is another indication of the great political revolution which is going on. After the meeting had adjourned, a long Procession was formed with transparencies, dec, which inarched to the lodgings of some of therieading Whig Members of Congress, and was addressed brief ly by several of them, ajid amongst others, by Mr. Stakit, of your. State, whnw remark Were received j with the greatest applause. ' Washijtotoit, Feb. 21. Mr. Fillmore Was, yesterday, entitled to the floor on a proposition from the Committee of Elections to have such printing done as might be necessary. The ques tion immediately pending on the New Jersey election was on the appeal taken from the decision of the Chair, that it was not in order for Mr. F. to read to (he House, on the motion to print, a Resolution adopted in the Committee, and, which had not been reported to the House. The appeal was debated for some time by Meesrs. Adams, Banks, Pope, Petriken, Granger and Briggs, and was not concluded when the morning hour Vhad expired. I ' . Mr. Graves' askted leave, at this time, to refer to cer- Vin documents which had passed between him and the having been set apart for private business, he presumed that no other subject could be taken up but by a vote of two-thirds of the members present The Chair so deciding,. Mr. Hoileman took an ap peal, which, after considerable debate, was decided in favor iofthje Speaker 113 votes to 64, , A number of private bills were then taken up and passed upon. On motion of Mr. Graham, it was resolved, that when the House adjourns, it will adjourn to Monday. . Some struggle then ensued (there' being no other private business ori the calendar) to proceed with seve ral different subjects. Mr. Sergeant succeeded, at length, in calling up the bill for amending the Census act, which' was read a third time, and passed. ' r . The House thentook up the providing for the re-appointment of the Commissioner of Pensions. The question was on concurring with the Committee of the whole in reducing the salary of the Office from 3,0.00 to $2,500. Mr. Proffit urged the reduction. He said much had been said about retrenchment. It would be-seen who are now for iU . If no other membsr Was ready to carry out the subject, he would himself move for a deduction of JJ5 per cent, from the salary of Gov ernment officers generally, as it appears that they are nereatter to receive Jor their services a specie curren cy, while their fellew-citizens would have to receive whatever they Could get for what they had to dispose of. After a considerable contest for the floor, Mr. Davis, of Kentucky, obtained it, and, havinsf expressed him self in favor of the amendment, .he gave way to 4 mo-1 toon for adjournment. The Huse adjourned to Mon- oay. In the Senate, after the presentation of sundry peti tions, Mr. Tappan, called up the Resolution submitted by him some days ago, in relation to the claims of in dividuals against the Government of the U. States, It provides that no claim which shall have been twice pre sented to either House and . adversely reported upon, shall.be again received, nn ffi'Qvit that there i new testimony important in the case, After some considerable debate, on motion of Mr, Wall, the subject was laid on the table, and the Sen ate then adjourned to Monday. ty on joint ballot being only 20, the Van Buren men, Kf' ,..xv,.- m:- t n a; a;- CVk in his Department, having been sent to conduct purty-paper in xientucKy, wnue nis salary as aicontinuedj matter, the intelligent New York Correspondent of the National Intelligencer says: "Let the Southern Whig Fress bring this fact before theirtfeaders. The South ern" Public is doubly duped on this exciting subject; first, in the belief that only Whigs were abolitionists; and next, that there is any, reliance to be put in the forces of Mr. Van Buren in the North." wa I HARD MONEY. ( it ' ' f ' ! A friend, writing us from the Mountains, says :- We have come to the conclusion here in Buncombe, that all further efforts to bring about hard money are useless it is hard enough already." GREAT FIRE AT NEW ORLEANS. On the 1 1 th uuA. a are broke oat in the- fifth story of the St Louis Exchange; mud to be the most magni ficent Hotel in the United States, and it was reduced, with its magnificent dome, in a short lime, to a heap of ruins. The Exchange ost $ 1,700,000 ! . There was every indication that the fire would spread, as it had caught many other building; but this account was writ ten in the midst of the alarm. :. ; , t Mr. Proffit, a Whig . member from Indiana, was pre dicting the other day, in the House of Representatives, to some of his Tory colleagues, the result of the next Presidential election. He told them his prophecies had always come to paas-4br "he was ant dsdy a Frojjiti out the son of a rrqffitr WHO ISIT1 The " Albemarle j Sentinel," printed at Edenton, has occasional Letters from Washington, written' with great power and boldness, and evidently by one well acquainted with the doings at. the Metropolis. From the latest Letter in that paper, we copy the following paragraph. . Who is the political Ambassador referred tolr Can the reader euest? '- 4 . .; ' . '.r j - "A rumor prevails here-that North Carolina is to be taken by storm at the next. Election for President. w .1 1 . . . . ti j :j in otner woros, a ruse u w De piayu. it u suu uuu a certain politician - in your State is now engaged in prepaniiEf a ust of all omce-holdera in the State who are certain, with a view of filling their officers ; with others who may be bought, and that several removals upon this principle, have already taken place. (A fine way to reward friends !) This political Ambas sador, it is further said, is to fill tiie place of Senator Brown, should he succeed in revolutionizing his own .district. This,' your readers may be assured, is in conte nplation. i Do they witness nothing, even, now, to warrant the suspicion 1 Let them be vigilant let them be united,; and, above all, let them strike at the root of the evil that threatens them by hurling from the high places of power or trust, all who are opposed i o thpir free Repubhcan Institutions." ; ; . LATEST FROM. EUROPE. A transient ship fronv Liverpool, brings Liverpool dates to January 4, with. news a little cheering. . Mo ney is said to be plentierin England, and the rate, of interest lower.1 'Cotton had advanced Id.' In Tar there were no sales. In -Tobacco, the demand is con fined to small parcels for the trade at former prices. The Corn market had not advanced. : - - Thfc Captain of this vessel reports, that neither the Steam Ship Great Western, nor British Queen, would depart fcr this Country until Spring, in consequenca of damags sustained on their last trips. TW Speaker said the motion could only be enter- tainedW unanimous consent. . Uemg obiected to, Mr, GravesVoved a suspension of the rules, which motion failing otjwo-thirds, was not carried. The Hise then took up the bill making appropri ations for fie payment of Pensions for the year 1 840, which had Ven returned from the Senate with ah amendment ithorizing the several Pension Agents to administer thoaths required, which was concurred in. The House Ven resolved itself into a Committee on the Census billnd the bill having been read through, it was concluded fiat U would be best to suffer it to pass without furtW amendment. The Committee therefore reported tV bill as it stood. The House thenWcnt into a Committee on the Senate bill to continia the office of Commissioner of Pensions until the 4thW March, 1842, and to trans fer the duties of that offk-r from the Navy Department to the Office of thet Commissioner, and also to trans fer one Clerk. ir Both bills were repoi ter bill was taken up and ed to reduce the salary of 000. to $2,500. and deman when the House idjourhed. the House ; when the lat- . Proffit, of Indiana, mov- Commissioner from $3,- t!ie Yeas and Nays, lemorials were receiv- ! In the Senate,' atiumber of. red, and reports acta! upon.; i - The assumption w State debts coming again under consideration, the question was taken on Mr. Clay's ! motion for an indefinVe .postponement of the subject, and negatived, 27vot to 15. ! On motion of Mr. (Vundy, the subject was further postponed till Monday. On motion orMr. the adverse report; made Affairs on the claim of Ji bate, Mr, King moved that! with instructions to report i the Senate then took up the Committee on Indian -B. Hancock. After de- report be recommitted, for his relief, which motion was rejected, 18 voteko 9. iBiiroToir, Feb. 22. ! The qnestion yesterday bete the House, at its opening, was on the appeal of , Adams from a de cision of the Chair, that Mr. Fiore of New York could not proceed in reading a rlolution which had been, agreed to in the Committee yet reported to the House, but wl print, without a vote of leave. Elections, but not it was moved to .;!': Foa THE RceKTXR. Mr. Editor: I find in the Standard of to day, the following notice : DEMOCRATIC REPUBLICAN MEETING. " The Democratic Republican citizens of the Conn ty of Wake, are requested to meet in the large Room of Benj. B. Smith, Esq. in the City of Raleigh, on Thursday the 20 th mst. at 4 o clock in the afternoon, for the purpose of recommending a suitable candidate for the Office of Sheriff, at the next election, I understand that a similar notice was cir culated by hand-bill throughout the City and County. And has il come to this lhat uven the Sheriffs and Constablks must be 'sink or Swim Van Buren men. true, real, bona fide partizans of the Democratic persuasion ? Is 'the Sheriff an officer of any particular par ty ? Is it the intention of those who. called this meeting to have one appointed to an of fice which is merely a judicial office con cerning the people at large, who will favor the Democrats and oppress the Whigs ? Will the people of Wake sanction such a policy ? What has the Sheriff to do with the politics of any man ? We cannot believe that the good people of old Wake will approve of suqh a policy. A Democratic candidate, for Sheriff ! Nomi nated too by authority ! People of Wakk, this proves to what a Van Buren partizaqs would lead you ! Feb. 19. A FARMER. THE EFFECTS OF SLANDER. The Ohio Freeman, hitherto a strong Loco Foco paper, thus indignantly rebukes the unmanly calumny with which the Tones are pursuing Lien. Harrison: O, it is too cruel, and too unjust for the patience of a generous people to hear one of the truest and bravest, and most worthy of their country men, traduced in character his public services defamed and all the proud and noble darings.of his youth and prime of life, set at naught by. the foul tongue of po litical slander! I am no partisan and there are many others,, who, like myself, have be a come politically heart-sick I iiut we can stand another campaign, and we will stand a campaign, if it mu3t needs be, in 'defence of the tamest soldier who stood by us and our country ifcefore many of those traducer were born, or found a peaceful asylum oa her shores J" .: In Rowan, Mr. David Linn to Miss Sophia R. Cor reli Also. Mr. Alexander Graham to Miss Catharine Skiles. In Cabarrus county Mr.; Daniel Melchor to Miss Huldah Gun. . i ' In Iredell county, Mr. Samuel Smith to Miss Ann C. Shinn. '; -i - V : . -' DEATHS. In Sampson County, on 8th inst. Mr. John Bryan, Sen'r. aged 60 years. ' In the death of Mr. Bw Samp son County has lost one of her most useful and enter prizing citizens. As a neighbor, he was kind and af fectionate, Always ready to aid the destitute and needy. For the space of 20 years, hie was a pious member of the Methodist Episcopal Church, and died in the full JsuranoB of a blessed immortality. Communicated. TWr. President, before the "passage of this bill, not to make: a' speech, but to say a 'few words about it. I have come to the Senate to-day unaffectedly kidispos ed, from a serious cold, and am in no condition to ad dress this body ; but I regard this bill, as so pregnant with injurious, and dangerous, and direful consequen ces,' that I cannot reconcile it to a sense of duty to al low k finally to pass without one : last, 'although una vailing, effort against itJ I! tm aware that the decree for its passage has gone forth decree-of urgency, too, so urgent that a short postponement of the consid eration of the 'measure, to admit of the filling of vacant seats, in the Senate by legislative bodies now in ses sion seats which have remained vacant, not by the fault of the People,-but from the inability of those bo dies to agree in the choice, of Senators, has been re fused by the vote of the Senate refused, scornfully re fused, although, whether the bill be transmitted two or three weeks sooner or later to the House of Represen tativesyowing'''r its ' unorganized.: condition, -and' Its known habits of business, will not expedite its passage a single hour ! Refused by the concurrence of Sena tors who, not representing on this subject the present sentiments : and opinions of their respective States, seem unwilling to allow the arrival of those who would fully and fairly represent them !..;. It is remarkable, sir, that, judging from the vote on the engrossment of the bill for a third reading, it is to be hurried through the Senate by less than a majonty of the body. And if the two Senators from Tennessee had clung to their seatswith the same tenacity with which other Senaton adhere to theirs, who have been instruc ted to vote against the bilLand are Violating their in structions ; and if the Senate were full, the vacant seats being filled, as we have every reason to believe they will be filled, there would be a clear majority a gainst the passage of the bilL Thus! is this momen tous measure, which both its friends and foes unite in thinking will exert a tremendous, if not revolutionary, influence upon the business and concerns of the coun try a measure which has so long and so greatly dis tracted aius'divided our councils, and against which the People have so often and so signally pronounced their judgment, to be 'forced through the Senate of the United States. 'I Mr. President, it ia no less the duty of the statesman than the physicianj to ascertain the exact state of the body 'to which he is to minister before he ventures to prescribe any healing remedy. It is with no pleasure, but with profound regret, that I survey the present con dition of our Country, I hav rarely, Ii think never, known a period of such universal and intense distress. The General Government is in debt, and its existing revenue is inadequate to meet its ordinary expendi ture. : The States are in debt, some of triem largely in debt, insomuch that they have been compelled to re sort to the ruinous expedient of contracting. new. loans ;io meet the interest upon prior loans ; and the People are surrounded with difficulties, greatly embarrassed, and involved in debt. Whilst this is, unfortunately, the general state of the country, the means of extin guishing; this vast mass of debt are in constant dimi nution. Property 13 falling in yalue-au the great staples of the country are declining in price, and des tined, I fear, to further decline. The certain tendency of this very measure is i to reduce prices. The banks are rapidly decreasing the amount of their circulation. About one half of iheia, extending from New Jersey to the extreme Southwest, have suspended specie pay ments, presenting an image of a paralytic, one moiety of whose body is stricken with palsy. jThe banks are without a head ; and, instead of union, concert, and cooperation between them, we behold jealousy, dis trust, and enmity. We have no currency whatever possessing uniform value throughout the whole coun try. That which we have, consisting almost entirely of the issues of banks, i3 in a state of the utmost dis order, insomuch that it varies, in comparison with the Bpecie standard, from par to fty per cent discount. Exchanges, too, are, in the greatest possible confusion, not merely between distant parts of the Union, but between cities and places in the same neighborhood. That between our great commercial marts of Ivew, York and Philadelphia, within five or six hours of each other, vacillating between seven and ten per cent. The products of our agricultural industry are unable to find their way to market from the want of means in the hands of traders to purchase them, or from the want of confidence in the stability of things. Many Of OUr man U lactones stopped or gtnppinqT onpawHy the important branch of woollens ; and a vast accumu lation of their fabrics on hand, owing to the destruc tion of confidence and the wretched state of exchange between 'different sections of the Union. Such is the unexageerated picture of our present condition. And amidst the dark and dense cloud that surrounds us, I perceive not one gleam of light; It irives me nothing but bain to sketch the picture. 'But duty and truth require that existing diseases should be fearlessly examined and probed to the bottom We shall otherwise be utterly incapable ot ' conceiving or applying appropriate remedies. If the present unhap py state of our country had been brought upon the People by their folly and extravagance, it ought to be Uirne with fortitude, and without complaint, and with out reproach. But it is my deliberate judgment that it his not been that the People are not to blame and that the principal causes of existing-' embarrass ments are not to be traced to them. Sir, it is not my purpose to waste the time or excite the feelings of mem bers of the Senate by dwelling long on what 1 suppose to be those causes. .My object is a better, a higher, and I hope a more acceptable one to consider the remedies proposed for the present exigency. Still, I should not fulfil my whole duty if I did not briefly say that, in my conscience, I balisye our pecuniary distresses have mainly sprung from the refusal to rechartejr the late Bank of the United States; the removal of the public deposites from that institution ; the multiplica tion of State Banks in consequence : and the Treasu ry stimulus given to them to extend their operations tiie bungling manner in which the law, depositing the surplus treasure with the States, was! executed ; the Treasury Circular ; and although List, perhaps not least, the exercise of the power of the veto on the bill for distributing, among the States, the nett proceeds of the sales of the public lands.! What, Mr. President; is needed, at the present .cri sis, to restore the prosperity of the People i A sound local currency, mixed with a currency possessing uni form value throughout the whole country ; a re-establishment tf regular exchanges between different parts of the Union ; and a revival of general confidence. The People want, in short, good government at Wash ington ; the abandonment of rash and ruinous experi ments ; the practice here of economy ; and the pursuit of the safe lights of experience tive us these ; and the, growth of our population, the enterprise of our People, and the abundance,' variety, : and richness of the products of our sou and of oar industry, witn the blessing of Providence, will carry us triumphantly throusrh all out complicated' embarrassments. Deny these -persevere in a mal-adminisration of govern ment and it is in vain that the bounties of Heaven are irnfiiMIv Bfnttf rpA around n&. ' There is one man--ahd I lament to say, from the current of events and the progniss of Executive and party power but one man, at present in the country, who can bring relief to it, ! and bind up the llaeding wounds of the People, j He, of all men in the nation, ought to feel as a parent should feel, more sensibly .the distresses and sufferings 1 of his family. But, looking to his public course and his official acts, I am constrain ed to say that be surveys unconcerned the wide-spread nun and bankruptcy and- wretchedness before, hioa, without emotion and without sympathy Whilst all the elerrients of destruction are artwork, and the storm is raging, the Chief Magistrate, standingin the midst of his unprotected fellow-citizens, on the distinguished position of honorand ' confidence -to which their suf frages, have elevated him, deliberately wraps around -himself the folds of his India-rubber cloak, and. lifting his umbrella oyer is head, tells "them, drenched 'and shivering as they are tinder the beating rain and hail and snow falling upon them," that lie means to take ears of himself and the official dorps, and that theyro in the habit of expecting too much from Government and must look out for their own shelter, and security, and salvation !' ;'" : Arid now allow me to examine, and carefully and candidly consider,, the remedy wTiich thistiir offers to a suffering People for the unparalleled distresses under which they are writhing. I will first analyze and in vestigate it as its friends and advocates represent iu What is it What t3 this 'measure, ' whichf haV id long and so deeply agitated this couhtry, under the va rious denominations of Sub-Treasury,1 Independent Treasury, and T)ivorce of the Staid from Banks! What is it'- ltus define it truly arid elearly lis wnoic principle consists in an exaction from me reu p!e of fpzcie, in the payment of all their duties and dual to Goyerhmen t,.and the disbursement of specie by the Government, in' the payment of all salaries and of all 7 the creditors of the Government. This is Its simple and entire principle. . Divest the bill under considera tion of all its drapery and paraphernalia, this is its naked, unvarnished, and uneiagerated principle, ac cording to its own friends. This exclusive use of spe- ; cie, in all receipts and payments of the Government, it is true, is not to be instantaneously enforced f f But thatf is the direct and avowed aim and object of the measure, to be accomplished gradually, but in the short space of a little more than three years. The twenty-eight sec tions of the pin, with all its safes, and vaults, and bars, and bolts, and receivers-general, and examiners,; have nothing 'more nor sis in view than the exaction of 6pecie from the People, and he subsequent Jistribtl tion of that specie among the officers of the Govern ment and the creditors, of the Jovemment. ' It does not touch, nor profess fo toueh,' the actual cjLnTcne'y of the country. It leaves the local banks," where it found ' them, unreformed, uncontrolled, unchecked in all their operations It is a narrow, selfish, heartless measure. It tarns away from the People, and abandons themt'to their hard and inexorable fate; leaviniihem exDOsed: co au me pernicious consequences ot an unsound cur rency, utterly irregular and disordered exchanges and the greatest derangement in all business. It is worse; it aggravates and perpetuates thOery evils which the uovemment will not redress ; for, by going mto the . market and creating a new and additional demand for specie, it cripples and disables the State banks, and renders them incapable of furnishing that relief to th People which a parental Government is bound to ex ert all its energies and powers to afford. The divorce of the State from banks, ef which its friends boast, Is not the only separation which it makes it is a separa tion of the Government from the constituency a dis union of the interests of the servants of tha People irom me interests 01 ine jreopie. this bill, then, is wholly incommensurate with the evils under which the country is suffering; ;It leaves them not only altogether unprovided for, but aggravates them. It carries no word of cheering hope or encour agement to a depressed People. It leaves their lan guishing business in the same state of hopeless dis couragement, f- ' K . But its supporters argue that such a system 6feoil vertible paper as this eountry has so long had is radi cally wron-r : that ail our evils are to be ' Braced to th Banks ; and that the sooner they are put down, and a ' 4 currency exclusively metallic is established, the better, f 1 reduce inflated prices; lower the wages of labor, enable us to manufacture cheaper, and thereby admit bur man utacturers to maintain a successful comnetition with foreigners. And all these results at some future time or other, are to be brought about by the operation of this meamre. 1 ' Mr. President, in my opinion, a currency purely me tallic is neither desirable, in the present state of the commercial world, nor, if it were, is it practicable, or possible to be attained in this country; And, if it were possible, it could not be brought about without the most frightful and disastrous consequences, creating convul sion, if not revolution. , Of all conditions -of society, that is most prosperous in which there i a gradual and regular increase of the increase in the value of property and the price of com modities. In such -a state of things, business of all kinds is active and animated, every . department of it -J flourishes, and labor is liberally rewarded. No sacrifi- j ces are made of property, arid debtors find, without dif- ficultythe means of discharging promptly their debts. . Men hold on to what they have, without the appre hension of loss, and we behold no glutted markets. Of all conditions of society, that is mo3t adverse in which there is a constant and rapid diminution of the amount of the circulating medium. Debtors beeome enable to pay their debts, property falls, the market is glutted, business declines, and labor is thrown out of employ ment. In such a state .of things, the imagination goes ahead of the reality. Seller j become numerous, from the apprehension that their property, now falliny, will fall still lower; and purchasers scarce from cn unvril lingness to make investments with the hazard of almost certain lossv . r . Have gentlemen reflected upon tha consequence of their system of depletion 1 I have already stated that the country is borne doWn by a weight of debt. If the currency be greatly diminished, as beyond all example, it has been, how is tliis debt to be extinguished ! Pro perty, the resource ou which the debtor relied for hie payment, will decline in value; and it may happeirtbes--- a man, who noneatly contracteu oeDt, on uie lauu ot - property which had a Value, at the time, fully adequate , to warrant the debt, will find himself stript of all lis ; I Ttrnnortir art A hia 'oM rBniin nriATtinoniahril. . 'I'K gentleman from Pennsylvania (Mr. Buchanan) has put the case of two nations, in one of which the amount of its currency shall be double what it is in the other, and as he contends, the prices of all property will be dou ble in the former nation of what they are in the latter. If this be true of two nations, it must be equally true of one, whose circulating medium is at' one period dou ble what it is at another, 'Now, as the friends of the bill argue, we have been and yet are in this.' inflated state, our currency has been jouble, or ia something like that proportion, of what was necessary, and We must come down to the lowest standard;- Do they not perceive that inevitable, ruin to thousands most be the necessary consequence ? A man, foir example,bwnih j property to the yaloe of $3,00O,' contracts i dbt fcr 5,000. By the reduction of one-half of the corrency of the country, his property, in effect, beeomes redoeed to the value of $200. Bnt debt undergoes ne cor responding redaction. Ut gives op all his property, and remains still in debt $5,500 Thus thi measure wui operate on the debtor classoillbjiiialuvieW the wealcr"cTaWTn'ib, lor that reawn, most needs the protection of Government. -;. But, if Che effect of this hard money policy vpon the debtor class be injurious, it U still more disastrous, if -possible on the laboring classes. Enterprise will be checked or stopped, employrjaent will become difnculfc and the poorer classes will be eublgct'to the greatest privations and distresses. Heretofore it ha rseen oxwr of the prct n .ions and boasts of the donlnaat-psrtyv: that they sought to elevate the poor by 4a?iriyiiiff1bi- rich of undue advantages. Now their, policy is to rev ' i f Comtudcd on Fourth Pagi. J "
The Weekly Raleigh Register (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 28, 1840, edition 1
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