Speech of the Hon. Henry Clay, of Kentucky, Establishing a Deliberate Design on the Part of the Late and Present Executive of the United States, to Break Down the Whole Banking System of the United States ...: And to Create on Their Ruins a Government Treasury Bank, Under Exclusive Control of the Executive, and in Reply to ... J. C. Calhoun ... In the Senate ... February 19, 1838Gales and Seaton, 1838 - 32 pages |
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Page 27
... debt due from the commu- nity to the banks , amounting to $ 475,000,000 , the interest upon which , con- stituting about that sum of $ 25,000,000 , forms the exceptionable tax . Now , this sum is not paid by the whole community , but ...
... debt due from the commu- nity to the banks , amounting to $ 475,000,000 , the interest upon which , con- stituting about that sum of $ 25,000,000 , forms the exceptionable tax . Now , this sum is not paid by the whole community , but ...
Page 16
... debt was incurred in prosperous times . The abundant means of the banks , from the surplus revenue and a combination ... debts . The former would revive business , and would increase the debts to the banks less than it would increase the ...
... debt was incurred in prosperous times . The abundant means of the banks , from the surplus revenue and a combination ... debts . The former would revive business , and would increase the debts to the banks less than it would increase the ...
Page 4
... debt has already been contracted in Europe , for sums advanced to States , corporations , and individuals , for purposes connected with internal improvement ; which debt cannot now be less than a hundred millions of dollars . Spreading ...
... debt has already been contracted in Europe , for sums advanced to States , corporations , and individuals , for purposes connected with internal improvement ; which debt cannot now be less than a hundred millions of dollars . Spreading ...
Page 7
... debt actually exists , constituting , to the amount of its annual interest , a charge on the active capital and industry of the country . In the hands of individuals , portions of this debt are capital ; that is , they produce income 7.
... debt actually exists , constituting , to the amount of its annual interest , a charge on the active capital and industry of the country . In the hands of individuals , portions of this debt are capital ; that is , they produce income 7.
Page 8
... debt are capital ; that is , they produce income to the proprietors , and income without labor ; while in a national point of view , it is mere debt . What was obtained for it , or that on account of which it was contracted , has been ...
... debt are capital ; that is , they produce income to the proprietors , and income without labor ; while in a national point of view , it is mere debt . What was obtained for it , or that on account of which it was contracted , has been ...
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Speech of the Hon. Henry Clay, of Kentucky, Establishing a Deliberate Design ... Henry Clay No preview available - 2015 |
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Popular passages
Page 5 - ... as shall be requisite for its immediate accommodation in relation to the convenient transacting of its business, and such as shall have been bona fide mortgaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted in the course of its dealings, or purchased at sales upon judgments which shall have been obtained for such debts.
Page 5 - The charter of the Bank of the United States expires < in 1836, and its stockholders will most probably apply for a renewal of their privileges. In order to avoid the evils resulting from precipitancy in a measure involving such important principles, and such deep pecuniary interests, I feel that I cannot, in justice to the parties interested, too soon present it to the deliberate consideration of the Legislature and the People.
Page 13 - ... unless you become more watchful in your states, and check this spirit of monopoly and thirst for exclusive privileges, you will, in the end, find that the most important powers of government have been given or bartered away, and the control over your dearest interests has passed into the hands of these corporations.
Page 57 - States, to devise such further provisions as shall appear to them necessary to render the constitution of the federal government adequate to the exigencies of the union...
Page 100 - Representatives passed a resolution, by a vote of 144 yeas to 6 nays, concurring "in the views of the Secretary of the Treasury in relation to the necessity of a contraction of the currency, with a view to as early a resumption of specie payments as the business interests of the country will permit," and pledging "cooperative action to this end as speedily as possible.
Page 14 - Let us, then, bind the republic together with a perfect system of roads and canals.
Page 11 - Western banks, usually called deposits, were already greatly beyond their immediate means of payment, and were rapidly increasing. Indeed, each speculation furnished means for another; for no sooner had one individual or company paid in the notes than they were immediately lent to another for a like purpose, and the banks were extending their business and their issues so largely as to alarm considerate men and render it doubtful whether these bank credits if permitted to accumulate would ultimately...
Page 426 - SUMNER moved to amend the resolution by striking out all after the word " Resolved/' and inserting : The amendment was rejected.
Page 13 - My humble efforts have not been spared, during my administration of the government, to restore the constitutional currency of gold and silver; and something, I trust, has been done towards the accomplishment of this most desirable object.
Page 342 - States, as aforesaid, ought to be collected or received, otherwise than in the legal currency of the United States, or treasury notes, or notes of the bank of the United States...