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The struggle on this continent between monar chy and democracy, has been a problem which Upper Canada has just solved.

It has been very strongly argued, even in England, that democracy was the only form of Gov. ernment indigenous to the soil of America, and that monarchy was a power which required here artificial support.

When a band of rebels, defeated in their cruel ob-stroying a vessel belonging to our own islanders, apprehension and prejudice, particularly as regards ject to reduce this capital to ashes in the depth of which had so grossly insulted them-which had its transatlantic possessions, yet when facts are a Canadian winter, were, after the conflict at gal- completely overpowered their government-and clearly submitted to it, its judgment is always sound, lows-hill, brought to me as prisoners on the field-which in a moment of peace, had so flagrantly vio- and its verdict nobly impartial. was any distinction made between American born lated the laws of nations. And if we should be and our other Canadian subjects? No, all were justified in capturing the vessel of our islanders, on released. Before the assembled militia of Upper account of the wrongs they had perpetrated upon Canada all were equally pardoned; and though ina- the American nation, surely we should have addiny of our brave men, smarting under feelings natu- tional right to do so on our own account, if the ral at the moment, evidently disapproved of the twenty-two pieces of cannon forcibly wrested from decision, yet all bowed in obedience to the admin- the American government had not only been emistration of their laws; and, under the noble influ- ployed for a fortnight, in firing from the island ence of monarchical government, they allowed their upon the peaceable subjects of her majesty, but to assailants to pass uninjured through their ranks. our certain knowledge, were about to be transportWhen the gallant inhabitants of the provinces of ed to our main land for the purpose of committing New Brunswick and Nova Scotia, received intelli- murder, arson and robbery in this province! gence that American citizens had commenced an It is, however, declared by our allies, that because attempt to free the British North American colo- these lawless possessors of our island turned out nies from the tyrany of British rule," did they re- to be American citizens, and because their own joice at the event? No; a burst of loyalty, re- government was totally unable to restrain them, sounded through their lands, and a general desire the capture of their vessel by us became a "violent to assist us was evinced. outrage!"

With a view to subvert this theory the whole of the queen's troops were allowed to retire from the province, and the result, as had been anticipated, was that the people of Upper Canada were no sooner left uncontrolled than they proclaimed them. seves in favor of monarchical institutions. Sur. rounded by temptations on almost every side they indignantly rejected them all; in a few hours they succesfully put down insurrection in their own land, and when American citizens, astonished as It would not have been considered by them an well as disappointed at their loyalty, determined outrage, had we by force of arms prevented Cana- to force them to become republicans, people of all dian islanders from violating American arsenals-religions and of all politics, rushed to the frontier to die in defence of their glorious constitution. The conduct of the militia of Upper Canada attracted the attention of the gallant and loyal inhabitants of New Brunswick and Nova Scotia, whose legislatures have done themselves, as well as this province, the honor of promptly expressing their unqualified approbation of the attachment which has been evinced here to the British Constitution.

an outrage, for us to prevent an American vessel
from enabling American citizens to commit these
unparalled aggressions.

If Upper Canada was merely a young, healthy province, with no protection on the continent of America, but its character, its industry, and the agricultural difficulties it has to contend with-its from insulting American authorities-and from filial attachment to the government-the bravery it firing twenty-two pieces of the United States canhas shown in its defence-and the mercy it has ex-non upon British subjects,-but it is considered as tended to its captured assailants, ought to be sufficient to make its aggressors ashamed of their late attempt to force upon their neighbors, institutions which they conscientiously and unequivocally re- In the history of this province, the capture of the ject. But when it is considered that Upper Canada Caroline (whoever might have been her crew,) is an integral portion of the British empire, and that will, I maintain, be respected by future ages as a the two countries are at this moment bound together noble proof of the sincerity of the Canadian people by a solemn treaty of peace, the faithless attack of to fulfil their engagements, by crushing a pirate citizens of the United States upon the province, after force which in violation of existing treaties, was it had completely quelled a slight domestic insur- insulting from a British Island, their American alrection, will, if persisted in, excite feelings among lies, and which general Arcularius, governor Mathe generous nations of Europe, which will add son, governor Marcy, the president and legislature but little to the character of republican institutions; of the United States, had absolutely found too pow-rican colonies, respecting the relative advantages for surely the smile of a nation should not be more erful for the executive force of the republic to con- between monarchy and democracy in America, dreaded than its frown, or its extended hand betrol. more fatal than its uplifted arm.

When the facts just stated are clearly comprehended by intelligent men, how will the American citizens who have so wantonly attacked the British empire, find it possible to explain that the province of Upper Canada required them to interfere in its concerns?

The fact that the pirate force was composed of and commanded by American citizens, adds to the aggression committed against the Canadians, but subtracts nothing from the crime of robbery perpetrated upon the United States arsenal, unless, indeed, the American people, or the American authorities, should deem it proper to declare that it was no robbery at all, for that the aggression was approved of, that the state cannon and state muskets were knowingly and willfully lent to the invaders of Navy Island, for the purpose of forcing republican institutions upon the people of Upper Canada, and that under these circumstances which are incredible, the attack of Canadian militia upon the American citizens who were on board the Caroline, was "an extraordinary outrage."

But it seems now to be admitted, that our invaders have been deceived-that they falsely estimated the Canadian people-and that they have at last learned that the yeoman, farmers, militia, Indians, and colored population of this province, prefer British institutions to democracy; nevertheless, as an ex post facto excuse for the sinful and repeated invasion of the province, it is urged that the crew of the Caroline steamboat, which was captured more than fourteen days after Navy Island But supposing for a moment this false reasoning had been forcibly taken from us, have been "assas to be unanswerable-supposing even that the comsinated," and that "an extraordinary outrage" has mission of the outrage were to be admitted by the been committed upon the Americans by our militia, Canadians-and that it were also to be admitted who so ably and gallantly cut off that pirate vessel. by them that the capture, by the Canadians, of a If Navy Island had been violently taken posses- small steamboat moored to the American shore was sion of by Canadian rebels, instead of by a body of an outrage, equal in magnitude to the capture of Americans, armed, fed, and commanded by Ameri- Navy Island by American citizens, still to make can citizens-if these Canadian rebels had then the Canadian outrage as flagrant as that which had thought proper to invade the United States, to been committed upon us by citizens of the United break open half a dozen of their state arsenals-to States, it would have been necessary for the Canarob each of many hundred stand of arms-to plun- dians, after they had taken possession of the Caro der from the American government twenty-two line, to have fired from her deck with twenty-two pieces of cannon-and set the laws and authorities pieces of cannon, for more than a fortnight upon of the republic at defiance, could any reasonable the American shore; and even then, though the man declare, that we should offer, or that we could outrages would certainly have been rendered appabe supposed to intend to offer, any offence to our rently equal, still the former would have been an allies, if in a moment of profound peace, we were outrage of retaliation upon an enemy, the latter an to pursue in the Niagara river, the guilty vessel outrage of unprovoked attack upon a friend. which had transported to the island these Ameri- There are two facts which the American nation can arms, and capture her, whether she were in have not power to deny. British waters-in American waters-moored to 1st. That it is their interest, as well as their duty the British shore-or to the American shore?- to fulfil their treaties. would it not be our bounden duty to the American 2d. That if the people be permitted to rob the people, to capture this pirate vessel?-and if it were to fail to do so, might not our allies hold us responsible for acts of such unprovoked aggression committed upon them by British subjects, inhabiting a British island.

United States' arsenals in order to invade a friendly
power, the lawless body will very soon find out
that it is easier to plunder their own wealthy, de-
fenceless citizens, than the poor, brave, well armed
people of Upper Canada.

I have felt it to be the especial duty of the legis-
lative station I hold, not only to protest against the
unprincipled invasion of this province by its allies,
but to vindicate the inhabitants from the unreason-
able accusation, which, without due inquiry, was
made against them by the federal government of the
United States, of having "assassinated" the crew
of the Caroline.

Again, supposing that the Americans were to cooperate with us (as, under such circumstances, ot course they would have done,) in chasing this pirate vessel, could it be supposed for a moment, that each power would only be permitted by the other to capture her, so long only as she continued in their own half of the river: and that if our British boatmen, at the peril of their lives, were to capture the vessel in American waters, or on the American The memoir of the attack which has just been shore, it would be considered by the Americans as made upon us, offers a moral to the mother couna "violent outrage?" There can be no doubt in try which I feel confident will create throughout the mind of any reasonable man, that we should the empire considerable sensation; for although the only perform our duty to the Americans, by de-old country is not without its share of human mis

When these facts shall arrive before the English people, and when they shall also have taken into their consideration the devoted and unalterable at tachment which the British population of Lower Canada haye evinced for our revered institutions, surely they will come to the conclusion, that the concurrent opinions of her majesty's North Ame

must be sounder than their own can be, inasmuch as eye witnesses judge more correctly than people can possibly do who are living four thousand miles off.

The people of England will, I trust, not fail to admire the calmness, the resolution, the generosity and the honorable subjection to their laws, which have distinguished the inhabitants of Upper Canada; and, on the other hand, they certainly cannot fail to observe, that the republican project of our English reformers, namely, to make the people bit by bit responsible only to themselves, has ended in America by the government of the United States confessing its total inability to restrain the passions of its citizens, to guard the state arsenals, or to maintain its treaties with its oldest and most natural ally.

Lastly-the British people will, I trust, observe with considerable alarm, that the leading advocates for organic changes in our institutions, are either at this moment lying in our jails as traitors, or from having absconded, are self-banished from the province; in short, that their pretended efforts to obtain in Upper Canada, what they called "liberty for the people," has ended in a most infamous and self-interested attempt to plunder private property, rob the banks, and burn to ashes the rising capital of their country!

With this experience before our eyes, I must confess I join with the legislature and people of Upper Canada, in shuddering at the abused name of "reform," just as we now recoil with abhorrence, when we hear suddenly pronounced the word "sympa. thy."

As my successor is hourly expected here, I return to the mother country as I left it, totally unconnected with party or with politics; but in retirement I shall remember the lessons which the people of Upper Canada have taught me; and I feel it my duty to declare, that I leave the conti. nent of America with my judgment perfectly con vinced, that the inhabitants of Europe, Asia, and Africa, are right in their opinion that all men are not by nature equal-that the assertion of the contrary in America is a fallacy-and that talent, industry and character, must elevate individuals, as they do nations, in the graduated scale of society.

May the resplendent genius of the British constition ever continue to illuminate this noble land, and animated by its influence, may its inhabitants continue to be distinguished for humility of demeanor

nobility of mind-fidelity to their allies-courage before their enemy-mercy in victory-integrity in commerce-reverence for their religion-and at all times, and under all circumstances, implicit obedi ence to their laws.

Honorable gentlemen, and gentlemen:
FAREWELL!

March 13, 1838.

What's in a name?

SPEECH OF MR. HALSTED, OF N. J., to their once. He would state and add up the ac- year, nine thousand dollars more than it received; it On the bill making an appropriation for the civil and count for the honorable member, so that he might was gravely denounced as extravagant; and it was see on which side the balance was. In the first politi- considered as a strong argument against his rediplomatic expenses of the government for the year cal campaign between Mr. Adams and general Jack-election. Mr. Rives, of Virginia, one of the lead1838. Delivered in the house of representatives, son, the friends of the former were called Adams ers of the Jackson party, commented srongly on men, and of the latter Jackson men. The friends it, and in a speech, which he delivered in this Mr. Halsted moved to strike from the bill the of the former changed their name and called them-house in the year 1828, made use of the followitem of four thousand dollars for the jet d'eau on the selves national republicans, and the friends of the ing language. "I have a deep and settled consouth side of the centre footway in the capital latter called themselves Jackson republicans. The viction that economy is a cardinal virtue in every grounds, and was about to offer other amendments friends of general Jackson again changed their name republican government. It is not merely for the peto reduce other items of appropriation in the bill, and called themselves Jackson democrats, and the cuniary saving, and consequent relief to the induswhen he was reminded by the chairman that the friends of Mr. Adams and Mr. Clay then called them- try and resources of the people, which it brings with it committee had determined to act upon one amend-selves whigs. Thus far the account was equally bal- that I esteem it-it is still more, its political effects. ment at a time. Mr. Halsted said he had objections anced. What changes had taken place since? The It is not only the close ally, but the surest guarantee to make to several items of the bill, and should take next name assumed by the predominant party was of the public liberty. It is the great instrument for this opportunity of discussing them all together. He that of "the Jackson Van Buren democrats." It was restraining that dangerous principle of executive inshould take a general view of the expenditures of under this name that the last presidential contest fluence which is perpetually undermining and assailthis administration, and contrast them with the ex- was fought on their placards and tickets the ing the fabric of free government every where. This penditures of former administrations. name of Jackson was placed in large capitals, and influence exists and enlarges itself through the disIn regard to the particular item to which, by the the name of Van Buren either omitted altogether or bursements of public money, ultimately, under one decision of the chair, he was to confine his motion, put in small type, and in this way Mr. Van Buren shape or other. Diminish the public expenditures he said, in moving to strike it out, he was actuated was smuggled into the presidential chair under the and you will diminish executive influence." by no hostility to works of art or taste; nor would cloak of general Jackson's great name. Well, after Mr. H. said he heartily concurred in the sentihe, on proper occasions, object to liberal appropria- the name of general Jackson had produced the de-ments here expressed; and if they were applicable tions for them. But while the finances of the go- sired effect, what was the next change in the name to the administration of Mr. Adams, in 1828, they vernment were in their present depressed condition; of the party? Why it was then "the Van Buren applied with ten fold force to the present administrawhile the public treasury was bankrupt; while the Jackson democrats," or, as they have been called, for tion; for Mr.Adams's administration did not profess administration was under the necessity of borrowing brevity, by their opponents, the Van Jacks. But to act upon the principles of Jeffersonian democracy ten or fifteen millions of dollars for the purpose of they did not hold to this name long, for they soon and frugality, as this administration or its friends defraying the ordinary expenses of the government, found there was no hurrah about the name of Van professed to do. He would take the liberty of recur which he was well assured they would be compelled Buren, and that it was necessary, therefore, to sink ring to the principles of Jefferson democracy, as deto do, either by a direct loan or a new emission of it as soon as possible, otherwise it might sink them.livered and practised upon by the author himself, and treasury notes; he would not consent to the expen- They then assumed and now claim the name of to compare them with the principles and practices of diture of four thousand dollars for a work of mere democrats. Thus it appears, upon footting up the this administration, and see how they corresponded; ornament; no detriment could occur to the public if account, they beat the whigs two to one in the change and he thought it would be found, on comparison, that this work should be deferred until another year, of names. Now, in regard to the motive which in- the reason why the pure virgin of democracy attractwhen the state of the public finances might be in a duced this number of changes, was it not for politi-ed the admiration, and warmed the hearts of the better condition. He was opposed to the principle cal effect? Shakespeare had said: American people when she was first introduced by of borrowing money for the purposes constructing Mr. Jefferson into our legislative and executive halls, works merely ornamental and having no practical A rose by any other name would smell as sweet. was, because "a native grace sat fair proportioned utility. It savoured to him of extravagance. It did But it was evident that politicians of all ages had on her polished limbs, veiled in a simple robe, their not comport with the professions of an administra- had differed from the poet, and that, in their opin- best attire, beyond the pomp of dress." But that the tion claiming to be democratic, and to act upon the ion, not only the strength and popularity of party, present administration, in bringing forward this principles of Jeffersonian democracy. If such an but the acquisition of wealth and honor frequently damsel of democracy, had decked her off in all the appropriation had been asked for, under like circum-depended upon a name; and it was doubtless for po- gaudy tinsel finery of a French fille de chambre, had stances, during the adininistration of the honorable litical effect that the predominant party assumed the covered her oe'r with puffs, powders, paints, patches, gentleman from Massachusetts, which had been cha-name of democrats. They not only call themselves false curls, and furbelows; nay, worse, had made her racterized by its opponents as extravagant, what a democrats, but they profess to be Jefferson demo- "as common as the stairs that mount the capitol," clamor would have been raised throughout the coun- crats. Now he should undertake to show that this and yet had the modest assurance to recommend her try. Who does not remember the noise made about a administration did not hold to a single one of the to the respect and attention of a virtuous and intellibilliard table and the lying letters about the east room, distinctive principles of the Jefferson school of demo- gent community; and attempted, gravely, to palm said to have been written by a celebrated individual, cracy; and, if they did, it was only "from the teeth out her off upon the people as the pure virgin of Jeffer"solitary and alone.". But it seems as if this pure wards." That there was no community of feeling, son democracy. But it would not do; the people Jeffersonian democratic administration, as they style sentiment, action, or practice between this adminis- were not so ignorant or so depraved as to mistake the themselves, can go to any extent of extravagance tration and that of Mr. Jeffersou; and that they meretricious colours of the courtezan for the genuine without check or restraint, though they have to bor- might, with much more propriety, be characterized blush of virgin modesty. For the purpose of showrow money to do it with. He would ask the demo- by the name of dandy democrats than Jefferson de-ing what were the principles of Jefferson democracy cracy of the country whether this appropriation of mocrats. A dandy was a person who wore corsets he would take the liberty of reading Mr. Jefferson's $4000 for a jet d'eau, corresponded with their no- and dickeys; who generally had but little capital, confession of political faith, contained in a letter to tions of Jeffersonian simplicity and frugality? But and that borrowed, and whose expenditures exceed the honorable Elbridge Gerry, dated 26th January, lest some of his plain honest constituents, not being ed his income. Might not this description be ap- 1779, in which he said: "I am for a government French scholars, should not have an accurate idea of plied to this administration? That this administra- rigorously frugal and simple; applying all the posa jet d'eau, he would attempt to explain it to them by tion traded upon borrowed capital might be proved sible savings of the public revenue to the discharge asking them if they had ever seen little wanton boys, in more ways than one. On this point, however, the of the national debt, and not for the multiplication of after a summer shower, playing around a puddle of bill for the issue of ten millions of treasury notes, at officers and salaries, merely to make partisans, and dirty water, filling their little suction pumps, (called, the extra session of congress, and the bill for the for increasing the public debt, on the principle of its in boyish language, squirts,) made of hollow reed or emission of ten millions more, which is about to be being a public blessing. I am for relying, for interelder stalk, and through them spurting the water into introduced into this house this session, would afford nal defence, on our militia, solely, till actual invathe air, crying out to their comrades to stand from sufficient evidence. Then, as to the other character- sion; and for such a naval force, only, as may protect under; this, he said, was a jet d'eau. The difference istic quality of dandyism, did not this administration our coasts and harbors from such depredations as we between these jet d'eaus and the one under consider possess it in an eminent degree? Did it not spend have experienced; and not for a standing army, in ation was, that in the former the moving or propell- more than its income? He would examine a little time of peace, which may overawe the public sentiing power was natural, in the latter artificial; or, to into that matter. It appeared, from the treasurers ment; nor for a navy, which, by its own expenses describe it as it really was, a reservoir of water is report, that the receipts into the treasury, during the and the eternal wars in which it will implicate us, made on the top of the capitol hill, which is connect- first three-quarters of the year 1837, including four will grind us with public burthens, and sink us under ed by a metallic pipe or tube of some kind with a million three hundred thousand dollars in treasury them. I am for free commerce with all nations; posmall reservoir below the hill, in the middle of which notes, were twenty-three millions four hundred and litical connection with none; and little or no diploreservoir is a brass or copper ornamented column or pillar rising about twelve or fifteen feet above the bot-ninety-nine thousand nine hundred and eighty-one matic establishment." tom of the reservoir, and 6 or 8 feet above the surface Deduct treasury notes, dollars, is of the ground and resembling very much an iron lamp post, through which the water, by the gravitating force of the fluid in the reservoir on the top of the hill, is projected some ten or fifteen feet into the air, and falls into the reservoir below, which is in depth about six feet, and diameter about thirty feet, and lined with cut stone, surmounted with an iron railing about four feet high. Such was the description of a jet d'eau, for the construction of which four thousand dollars was asked by this self-styled democractic adininistration. And while speaking of the name which the administration party had assumed to itself, he would take the liberty of making some reply to the honorable member from Ohio, who, in a speech made in this house on the 18th of December last, charged the whig party with changing their name, and with "assuming the name of whig for political effect, when, in his opinion, they did not possess the political principles which that name indicated in '76." With regard to the change of names, the predominant party in this house had changed twice

Thus it appeared that Mr. Jefferson was for a go$23,499,981 4,300,000 vernment rigorously frugal and simple. Was this administration in favor of such a government? The And it left as the actual am't received, $19,199,981 friends of this administration considered, or professed to consider Mr. Adams's administration a very The amount of expenditures, during the same pe- extravagant one. The expenditures of Mr. Adams' riod, was, according to the same report, $25,418,916 administration were, in the year 1825, $11,490,460." Deduct amount received, 19,199,981 The expenses of this administration, which professes to hold to the doctrine of Jefferson frugality, were, in $6,218,935 1837, $35,281,361 57, which was an increase of more than three fold; a very fine exemplification of frugality and simplicity. In the next place, Mr. Jefferson was opposed to a national debt; but one of the first measure of this administration was the creation of a debt of ten millions of dollars, by the issuing

Leaves as the excess,
Or, at the same ratio for the whole year,
an excess of

8,291,915 Making an excess of expenditures, over income, of nearly two-thirds of the whole amount of the expenditures under Mr. Adams, and more than the whole expenditure of the administration of Mr. Jefferson. of treasury notes. If this admistration held on in its career as prosperAnd not content with that, a bill will soon be preously as it began, we should, at the end of the first, sented to this house, by the committee of ways and (he trusted its last term,) be burdened with a na-means, to authorize the issue of ten millions more; tional debt of thirty-three millions of dollars. During thus not only disregarding the Jeffersonian docthe administration of the honorable gentleman from trine, but actually departing from the footsteps of Massachusetts, (Mr. Adams,) it was made a serious his predecessor, in which the executive had promised charge against it, that there was expended, in one so faithfully to walk, and thereby creating a national

752, or more than two to one.

menced.

expenses of the treasury department, an item in reHe found also, on examination of the contingent gard to which he should like to have some explanation. There was paid out of the contingent fund of that departinent for the article of ice in one year, the sum of $104 16. He should like to know whether

debt faster than general Jackson's administration which prevailed about that time that "old hickory to defray its current expenses, it is deemed the paid it off. But while this monstrous increase of was not good for cabinet work,” was a great mis- heighth of democratic and Jeffersonian frugality. expenditure and extravagance, which pervades all take. Nobody, he thought would now deny there was It would be recollected what a clamor there was the departinents of this government, prevails, this at least one kind of cabinet work that old hickory was raised in the country about a certain billiard table, national debt must continue to increase until a resort capital for, and that was the making of bureaus, and he which accidentally found its way, without the presi to taxes of some kind must be had to pay it. In the believed that more officers could be packed into bu-dents knowledge, into one of the items of the contincelebrated report of General Hamilton, the chairman reaus made of this kind of material than had hereto gent expenditures, and which, by the way was of the committee on retrenchment and reform, as it fore been used for the cabinet work of every other not paid for out of the public money. The opwas called, Mr. Adams's administration was censur administration since the formation of the government. ponents of his administration were horror-stricken, ed as extravagant; and the amount of the expendiand their moral sensibilities suffered a severe shock, But these were only a very small part of the new at the bare idea of spending any of the public money tures for the civil, diplomatic, and miscellaneous departments of the government, was a particular sub- offices created under the late economical and reform- for such an object. How will the delicate sensibili ject of animadversion. In 1826, the amount of ing administration. A statement of the new offices ties of those gentlemen reconcile themselves to an those expenditures was $2,6000,179 79; in 1836, created the 2d session of the 24th congress, would be item of this kind to be found in the contingent ex$5,388,370 58; in 1837, $5,384,896 93. And the found in the 4th volume of executive documents of penses of the state department, viz. for the American estimated expenditure for these, in 1838, is $5,685,- that the salaries of the new officers created that ses-public money for a billiard table, was it not equally that session, document 189, page 40, which shews Turf Register $30. If it was wrong to expend the The naval establishment, in 1826, under Mr. Ad- sion amounted to $131.000. And that at the same wrong to expend it for a Turf Register? If the secams, cost $4,218,902,15. In 1836, under gen. Jack-session, there were additional salaries and allowan- retary of state had a taste for that kind of reading he son, it cost $5,800,763 25. In 1837, under Mr. Van ces made to officers previously appointed, amounting had no objection to his indulging it, but he did not Buren, it cost, for three quarters of the year, $5,- to $160,000 per annum. And it would be found that think it ought to be done at the public expense. He 384,896,93, or at the rate of $6,307,316 46. That in two years the patronage of the president had been also observed another item in the account of the conis $2,088,414,31 a year more than it cost in the time increased, by giving him the appointment of officers tingent expenses of the state department, which of Mr. Adams; and yet what is the state of the navy 000 per annum. Taking this as the ratio of in-portrait of Van Buren," and he also observed items whose salaries amounted in the aggregate to $372,- struck him as improper, and that was $6 00 for "a now, compared with what it was then. The military establishment in 1826, under Mr. Adams cost the crease, we might conceive what a vast accession was of the same character in the contingent account of country $6,243,236 00; in 1836, under gen. Jack-made to the executive patronage during the last ad- the office of the comptroller of the treasury and the son, it cost $18,466,110 63; in 1837, under Mr. Van ministration. Was the present executive satisfied second auditor's office. These were small items, but Buren, it cost 21,214,610 01; that is more than three with this increase of patronage? No, demands were it was the principle to which he objected. He thought times as much as it cost under what was called by continually made for more. More clerks were want that the people would have to pay dear enough for the present predominant party the extravagant ad- ed in several of the departments, and the president the original, without being compelled to pay for the ministration of Mr. Adams. But it might be said we How did the increase of the army recommended by if it was once sanctioned; if one of the public offirecommends a large increase in the standing army. copies also. Besides, where was this practice to end, are now in a state of war, and then we were at peace; the president, correspond with the doctrine of Jeffer-cers could purchase a portrait of the president and but with whom are we at war? a few poor Indians, not exceeding in the whole one thousand warriors; son democracy. When Jefferson came into power, have the expense paid out of the public treasury, a war which gen. Jackson told Mr. White, the dele- the army consisted of 14,421 men. But, by the act why could not all the rest. If public officers wished gate from Florida, he could put himself at the head of May 14th, 1800, it was reduced to 4,166. And to play the sycophant, or pay court to the president of fifty old women and put an end to in one week, by the act of March, 1802, it was further reduced to by buying his portrait, let them do it out of their own and which gen. Jessup, in his letter to Mr. Blair, of 3,287. But this administration, instead of following pocket. He protested against their taking any of the 20th of June, 1836, said there was force enough the example of Jefferson, sets itself to work to in- the people's money for that object. in Florida then, if properly employed, to put an end crease the army, and the secretary at war, with the to in a week; and this war had already cost the coun- should be increased to the number of 15,000 men. approbation of the president, recommends that it try upwards of $13,000,000, and did not appear to be any nearer a termination now than when it com- Jefferson was opposed to a national debt, but one of the first acts of this administration was to create one. Jefferson denied the power of the general governBut he would pass from these general items of ex- ment to make paper money a legal tender; but this penditures, to a more detailed examination of the ex-administration not only compelled its creditors to this ice was used for cooling wine or mint juleps, or penditure of the different departments of the govern- take its paper, but has actually, in some instances, for what other object so large a quantity was requir ment. It appeared that in the year 1828, the pay of refused to take the same paper itself. Jefferson ed. He had spoken of the expenses of other departthe clerks and messengers in the war department amounted to $48,950; in 1837, to $98,765 71, and thought men ought not to be turned out of office for a ments of the government, he would now come nearthere was asked to be appropriated by this bill for that doctrine was held and practiced by this admin- the expenditures of congress. In the year 1802, undifference of political opinion. But the reverse of er home and speak of the extraordinary increase of the same object for the year 1836, $101,050 00. The committee of which gen. Hamilton was chair-istration. Jefferson was opposed to the interference der Mr. Jefferson, the contingent expenses of both man, already referred to, reported that the diplomat- of public officers in elections, and thought it good houses of congress were $17,000; in 1805, $28,000; ic relations of the country under Mr. Adams' admin- cause of removal; now the reverse is the case, and it in 1828, under Mr. Adams, they were $106,203, and istration, were on a scale unnecessarily expensive. is thought good cause of removal if a man neglected in 1838, under Mr. Van Bruen, the amount approWhat did they amount to in 1829? $207,786 20! or refused to interfere and use all his official influ- priated for them by the bill under consideration, is $300,000. And the incidental and contingent exBut has this unnecessary expense been diminished ence for the support of those in power. penses of the senate alone, in the year 1836, amountby these pretenders to frugality and economy? No, But he would revert again to the consideration of ed to $63,868 17, about three times as much as the it had been greatly increased. The estimates for the the bill before the committee, and call their attention annual contingent expenses of both houses of conyear 1838 for the same objects were $235,900,00. to another item of the bill, which appeared to him gress under Mr. Jefferson. The printing of the The average contingent expenses of all the depart- extravagant, and that was the item for alterations and house of representatives in 1828, under Mr. Adams, ments of the government, as stated by gen. Hamilton repairs of the presidents house and for superintend- amounted to $37,602 00; in 1837, under Mr. Van in his report, was $77,454, but under gen. Jackson in ence of the grounds around the same $4,815. He Buren, to $78,532 00. There was paid for station1836, it had increased to $95,834, and under this found upon examination that this sum included an ery for the house of representative: in 1820, $7,189,economical administration the appropriation asked item of $390 for papering the east room; consider- 63, in 1837, $22,879 50; in 1838, it will probably for these expenses is $139,207 00. The contingent ing that it had only a few old broken chairs and amount to $28,000 00. There was paid for messenexpenses of all the departments of the government, benches in it during Mr. Adams' administration and gers and runners in 1828, $9,231 75; in 1829, $7, under Mr. Jefferson, amounted only to $29,000. One some $20,000 had been expended on it since, one 861 50. In 1836, there was paid for messengers and of the charges against the administration of Mr. Ad- would think that the papering might be postpon- runners $25,299 00, and in 1837, $26,266 50. There ams was, that instead of suppressing unnecessary ed until the finances of the governinent were in a was paid for draughtsmen and clerks in 1825, $100, offices, and curtailing executive patronage, they had better condition. Another part of this item of and in 1826, $229. In 1835, there was paid for rapidly multiplied and increased under his auspices. $4,815 was composed of the sum of $1,000 for paint- draughtsmen and clerks $6,792 46. In 1836, there How much more true was this remark of the last and ing the wall of the hall and passages. This also ap- was paid $7,859 70, and in 1837, $18,180 48. There present administrations: and how much more neces- peared to him a large sum for those objects; and in was paid for messengers, runners, draughtsmen and sary it was to apply the pruning knife to these ex-addition to these, there was also required the sum of clerks of this house, in 1825, under Mr. Adams, $4,cresences of executive folly, extravagance, and cor- $800 for painting inside and varnishing the wood 987 25, but in 1837, under Mr. Van Buren, there ruption, he would now proceed to show. Since the work. He recollected that there was once what was was paid for the same objects $44,446 92, an increase year 1829, when Mr. Adams ceased to be president, called a varnishing or white washing committee, at of nearly ten fold. There was paid for pens, inkand when, according to the creed of the predominant Nashville, who worked for nothing, and as they were stands, tape and wax, for the house of representatives party, the self-styled democracy, there was an unne- now out of employment, he suggested the propriety of in 1836, the sum of $5,249 51, and for pens alone cessary number of officers, there have been crea- engaging their services for this work. Speaking of the $1,326 57. There was paid for horse hire for the use ted the following new bureaus, each having its ap- East room in the president's house, reminded him of the house of representatives in 1837, $2,307. He propriate set of new officers, viz: first, the bureau of that there was another room in this capitol which had understood that the door keeper kept ten or twelve the commanding general, with clerks and messen- been recently fitted up for the vice president, in a horses, which he hired to the government at $150 per gers, and contingent expenses amounting to $1,800 style of very anti-democratic and anti-Jeffersonian day the whole time that congress was in session, and The topographical bureau $2,800 per splendor. There were in it six chairs which cost that members of congress were some times accommoper annum. annum. Clothing bureau $500 do thirty dollars a piece; two sofas that cost probably dated with the use of these horses. If a member of conBounty land bureau not less than $100 a piece; two marble slab tables gress be too lazy to walk and too stingy to hire, he proInspector general's bureau 500 do that cost at least $200 more; two splendid mahoga-tested against his indulging either his laziness or pe ny book cases. He would have supposed that one nuriousness at the public expense. If they sanctioned 3,500 do large book case would have been enough for so lite- the practise of riding on the public horses, and they 3,950 do rary a man as the vice president, particularly as there went on in the career of extravagance as they had were no books in either case; there were also splen-gone on for a few years past they would not be satis3,000 do did curtains and a chandelier, looking glass, carpet, 55,500 do &c. &c. A room thus furnished for a vice president 1,500 do under Mr. Adams' administration, would have been These were the additional bureaus which had been considered extravagant in the extreme, although the created since 1829, and they must at least satisfy the treasury was then overflowing. But when the govcountry of one thing, viz. that the common saying ernment had to resort to the issue of treasury notes

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fied without they had carriages to ride in. He took this opportunity of expressing his disapprobation of this practice, and in doing so he did not wish to be understood as censuring the officers of this house, on the contrary, he wished rather to protect them, and to furnish them with an argument to enable them to

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resist the importunities of members who might ask | 1790, to the year 1828, a period of thirty-eight years, suitable corrective will he immediately applied. Our a favor of that kind. comprised in two volumes octavo, of 560 pages each: whole system of federal taxation is in the general indiwhereas, the reports from the treasury department rect; and, if we once commence a system of supplying alone, since the commencement of the present ses-deficiencies in the treasury by an issue of paper to be sion, would form three octavo volumes, of 800 used as currency, the country may be ruined. each. If the number of these public documents con- millions of dollars to our means. This we did not do At the special session we were obliged to add ten tinued to increase as rapidly as they had done, mem- by a direct loan, which every man could understand bers of congress, if they were required to read them but by authorizing an issue of treasury notes. all, would not only want the hundred eyes of Argus, that bill was before the senate, the senator from Misbut they would want to live the whole period of the souri, and, if I mistake not, the senator from PennsylSpanish compliment, which was "a thousand years."vania, both friends of the administration, placed these Mr. H. concluded by moving to strike out the item of $4,000 for the jet d'eau.

He would detain the house a few minutes longer, while he made some remarks on the subject of the public printing. In 1828, it appeared, by the report of Mr. Hamilton, the amount of public printing done for the state department was made an object of examination and reprobation; and the expenditure of $40,706 15 in three years, was deemed extravagant. But in two years, under the reforming administration of general Jackson, the amount paid by the same department, for printing, was $30,210 37, showing an excess of $1,581 per annum over the expenditures of Mr. Adains for the same object. The printing for the war department in three years, under Mr. Adams, amounted to $7,679 50. For two years under general Jackson it amounted to $12,335 65; that was $2,559 83 per annum under the former administration, and $6,138 39 under the latter. The printing for the navy department for three years under Mr. Adams, cost $466 86; and for two years under general Jackson it cost $9,444 60. The printing for the post office for two years under Mr. Adams administration cost $14,174. But the printing for the post office for one year, from the first of October, 1836, to the 30th of September, 1837, amounted to $60,043 29, more than eight times as much as it was under Mr. Adains. It would be recollected what a

JUDGE WHITE'S SPEECH

When

notes on the ground of making a loan; that they, as they were to bear an interest, not exceeding five per cent. would be disposed of for money, and with the money thus procured, our creditors could be paid; and in this view I voted for the bill. In the house the amount of the notes was reduced one-half, and I soon perceivOn the sub-treasury bill. Delivered in the senate ofed that the administration intended to use them, not to the United States, March 24, 1838, while the motion of Mr. Cuthbert to strike out the 23d section, was pending.

MR. PRESIDENT: I address you under circumstances of peculiar disadvantage. The subject is one of the greatest importance. It has been long discussed, ably Jiscussed by those of most distinguished talents. Their highest efforts have been made on both sides to present its advantages and disadvantages in every view the human mind can take of it.

The crowded audience has become wearied, and even many senators themselves can hardly give res pectful attention to our most interesting debates.

Up to the termination of the last address of the distinguished senator from Massachusetts who sits nearest would be my duty to do more than listen respectfully to me, (Mr. Webster,), I was not satisfied whether it to others, and then say yea or nay to the different questions presented to the senate.

sanctioned.

Senators who support this bill say these are mere catch-words, (one kind of money for the government, and another for the people,) of which all have become ashamed, and that latterly they have been driven out of the senate.

procure a loan, but as a currency; and when the bill was returned to us, I took the earliest opportunity to record my vote against it. The notes issued under that bill have in fact been used as a currency, and at various rates of interest, some as low as one mill per year.

This year our revenue is again to be deficient; we will need, in addition to our means in the treasury, ten, fifteen, or twenty millions of dollars; and this addition will be made by new issues. This paper currency seems to cost nothing; and, as our wants increase, the issues will be increased, until the paper depreciates; and then, for the first time, the people will seriously look into the manner in which not only their money, but their credit has been squandered.

The provisions of this bill for treasury notes, bills, or other securities, issued by the federal government, or una principle which, if carried into practice, must seal the der its authority, if sanctioned by congress, will settle fate of this nation. Office-holders and office-hunters can all be accommodated by the executive at the public expense, and the people will not be aware of it until too late. In short, it will take off almost the only restraint which yet remains to our extravagant expenditures. This view of the subject has alarmed me.

Do we

(Mr. Calhoun) thinks it will not depreciate, and if it rency. The honorable senator from South Carolina does, it will not make any difference, as the government must always receive it at par, and therefore sus

Mr. President, if the honorable senator will take a moment to think upon this subject, I am convinced he will perceive the error. No paper currency, not convertible into specie at the will of the holder, ever did or ever will long retain its nominal value.

clamor was raised against the administration of Mr. Adams on account of some small sums paid for printing. Where Mr. Adains paid hundreds the administration of general Jackson and this administration paid thousands. Thus there was paid to the firm of Blair and Rives, alone for printing done for the several executive departments, in the year 1836 and 1837, the sum of $125,584 17, in addition to which, At the close of his animated, able, and interesting they received, as printers to the house of representa-speech, he recurred to a scrap of the history of my own tives, in the year 1836 $73,671 65, and for the year state, fifty years ago. Instantly my mind settled down 1837 $62,000 00. There had been much said also in the conviction that my constituents had a right to against the administration of Mr. Adams on account expect more of a son of one of the actors in that scene not all see and know that those in office are pressing to of the number of newspapers; and the report of than a bare vote. have their salaries increased? That those who are not, general Hamilton, before referred to, made the num-tion, that if what I say should not be interesting, it get in? We are teased to increase the number of land I promise those who may favor me with their atten- desire the number of offices increased that they may ber taken and the amount expended for them a parti- shall not be tedious. cular subject of animadversion. Upon looking into The advocates of this bill expect to accomplish two all the offices among the whites are filled, then we have districts; and if we do, offices are multiplied. When the items of contingent expenses of the different de-objects by its passage: partments, he could perceive no reform here. There 1st. To designate the only species of funds which ties, commissioners and agents, by construction, at examong our red brethren exploring parties, visiting parwere taken at the state department nineteen different shall be received in payment of any dues to the govern- ecutive discretion, and compensated as he pleases. newspapers, for which there was pid out of the pub-ment. lic treasury $234 24 annually, besides the sum of 2d. To designate the persons by whom, and the the trouble of making, importunities for offices, jobs, conWith the facilities of paper money, to be created for $73 57 annually for reviews, periodicals, and the places where, those moneys shall be kept, between the tracts an increase of salary, will be multiplied, and the American Turf Register. If the officers of this de-t me of their collection and disbursement. president will not have the heart to resist them when partiment read all these papers and periodicals they lapse of six years nothing shall be received but gold have been forcibly struck with some of the remarks The provisions, as to the first, are, that after the artfully pressed by noisy and worthless partisans. I must neglect the public business, and if they did not, and silver, and such paper as shall be issued by or un-made upon the subject of this government paper curthen so much expense was unnecessary. Again, in der the authority of the federal government; and, in the contingent account of the office of Indian affairs the mean time, that certain proportions may be receivit appeared that there was paid $83 37 annually, ed in the notes of specie-paying banks. for six newspapers and one magazine. In the engi 1st. My first objection to this plan is, that it sets out neer department, there was paid for seven newspa. with a distinction in favor of those who are in the em-tain the whole loss. pers $103 84. For six newspapers in the ordnance ployment of the federal government, or have any modepartment $67 50. For newspapers in the com-ney to receive from it, and those who are in the einploy Inanding general's office $34. In the adjutant gen- of the state governments, as well as the mass of the eral's $14 50. In the office of the commissary of people. The distinction is odious, and ought not to be subsistence $30. In the quartermaster general's office $48. In the paymaster general's $25; and in the If a man has a note of any kind, and has confidence pension office $30. Making an aggregate of $747. that he can get the amount of it in specie at any time Whereas, the expense of newspapers for the same he pleases, most generally he would rather have the note than specie, because more convenient; but the modepartments under Mr. Adams, was only $388 40. While upon the subject of printing, he would adment he doubts, then he wants the specie presently. In vert to the great increase in the amount and extent the issue of treasury notes, that moment the amount issued much exceeds the revenue to be paid into the of printing public and executive documents. They If all the money mentioned is of equal value, why treasury, and the purchase of public lands, they must had become so voluminous that it was impossible to mention gold and silver, treasury notes, notes of specie- and will depreciate, unless provision is made that they read them, if even a member devoted all his time, paying banks, &c? The whole argument in favor of shall be paid when presented at the treasury. When not occupied in this house, to that object. There the bill rests on the supposition that gold and silver are they do depreciate, the whole loss will not fall on the had been published, since the commencment of this the best, and that, as far as it goes, is to be used for fed- treasury, but will fall likewise on those through whose session, ten octavo volumes of eight hundred pages eral officers and those who have federal contracts, leav- hands they have passed. The very case put by the seneach; and the reports of committees of this house, ing to others to get what they can, and how they can. ator proves it. A treasury note issues for fifteen dolpetitions, &c., would amount to five volumes more. 2d. the bill itself contemplates a paper medium ema-lars. It depreciates until it can be purchased in marThese volumes would therefore, contain twelve thou-nating from the federal government. To this I object. ket for ten. Some person who owes the treasury fifteen dollars, goes and purchases it at ten, and pays his sand pages; or, an average of one hundred pages a Because we have no power to issue it. As a currenday, ever since the cominencement of the session Cy, they are bills of credit, unconstitutional; more debt of fifteen dollars. Now does not every one perThis immense increase in the number and size of clearly so than to incorporate a bank. Because, if we ceive that the profit of five dollars, made by the man the executive documents was not occasioned so much can issue such a medium, we ought never to do it. I who paid the note into the treasury, must have been a by the increase of business, as by the practice which will lead to the most wasteful and extravagant expendi- loss of the same amount to the man from whom he tures. It will be used moderately at first, until the peo- purchased, or to some other person through whose hands had recently grown up, of the head of the depart-ple become reconciled to it, and then gradually extend- has passed? In all such cases, profit and loss are ment sending us all the reports of his sub-officers, ed in place of borrowing money, so as to meet all the correllative terms, and that which is one man's gain instead of taking the trouble to extract the substance calls of an extravagant administration, and must end must have been a loss to some other of them, and condense them in a report of his own. in a large national debt, or depreciate like your conti- As you increase expenditures you increase executive He could not perceive any correspondent benefit that nental money. power, already too great. The president or those act resulted from this immense increase of public doMany, with great reason, have believed that no go-ing under his orders, must necessarily select the recipicuments. It required the employment of a great vernment can long be economical upon even a system ents, who it will always be understood, can only be number of additional clerks, and thus tended to of indirect taxation. That under such a system the those who conform to his wishes in elections. These swell the executive patronage. It involved the whole people generally are not conscious of the burthen they objections are independent of the consideration wheof the financial and other concerns of the govern- bear. They pay their taxes when they buy their ther this bill will establish a bank or not. It will certainly ment in such a mass of documents and printed re- clothes, or other articles, on which duties are imposed, sanction the issuing a paper medium of circulation.ports, as prevented the people from understanding without reflecting that any part of the money they thus Those who advocate this provision certainly think as I their real condition; and it tended to throw great sums expend comes into the treasury; they therefore cease to do, that the country must and always will have bask of money into the pockets of the printers. He was be watchful over the manner in which the public mo- credits, or paper of some kind, to use as a substitute for sensibly struck with the vast increase in this kind neys are expended; and, whenever they cease to keep the precious metals. The business of the country can strict watch, their agents commence useless and waste- never be done without it. A support of the state banks of printing by examining the reports of the secretary ful expenditures. But when the taxes are direct, every is the only shield which can be presented against fedeof the treasury during the foriner periods of the go- man knows how much he pays, and when he pays, and ral bills of credit, and a federal incorporated bank. vernment. He found all the reports and documents will carefully watch how the moneys are expended; I hold both these last unconstitutional, and the first relating to the treasury department from the year and if the expenditures are wasteful or extravagant, a of them infinitely the most dangerous to the liberties of

To this, I reply, the gentlemen are mistaken; this distinction is made on the very face of the bill, in terins too plain to be misunderstood.

it

the people. In 1831, I heard of this plan of separating | But again; I think if it is ever proper to establish this | prohibit standing accommodations, few bad debts government from all banks as depositories, and thought system, and to have this divorce, now is not the proper would be contracted. well of it. Indeed, I would then have gone for it, if time. political friends had agreed upon it. Then there was no idea of issuing paper money by government. Then state banks were paying specie, and their notes would have continued a circulating medium. Then I had confidence in the administration, and believed that none would ever dare to interfere with the elective franchise, or to refuse to have the executive patronage limited and curtailed by law. Now all these things are changed. The administration want paper money issued by government, substituted for loans. The state banks are not paying specie, and this bill forbids the receipt of their notes.

The executive is disposed to hunt down any and every man who wishes to limit his power. He openly interferes in elections, both state and federal, and uses all his powers to have them carried according to his will. Under these circumstances, in my judgment, I would be a traitor to civil liberty were I to sanction the idea that we will make federal paper the circulating

medium.

What has become of our bills, five or six in number, to limit executive patronage, reported in the days of the younger Adams? They sleep the sleep of death. The honorable chairman of the committee, who originally reported them, felt it his duty to endeavor to revive them under the administration of the late president, and received so little countenance from old friends that he ceased his struggle with them.

The honorable senator from South Carolina, who never thinks any load too heavy, took up one of them, and made one of his most powerful efforts, and it pass ed this body. But how many old friends voted for it? Sir, all had been whistled or ordered off, except the senator from Missouri, and one or two others.

I have been honored with a seat here for the thirteen or fourteen last sessions, and believe I have never once recurred to the journals to see how any gentleman had voted; but there are some things I find it impossible to forget.

When that bill was before the senate, believing that I could give the senator from South Carolina something more than my vote, I made a speech in its favor; and that speech sealed fate with the great democratic party. I respectfully ask the senator from Missouri, whether any of the former friends of that measure, the Jackson democrats, voted for it, except he and myself? It went to the other house, and as they were more fresh from the people than we, better understood what is meant by modern democracy, they put this aristocratic bantling to sleep, and we have never heard a cry or even a whimper from it since. Since then, executive power and patronage have put forth their branches in every direction, and no man dare raise his voice against them on pain of political death.

Shall we then put this rich bed of manure to the root of this dangerous power, that the crops of executive influence may be increased in our elections? Nay; God

forbid!

I have been zealous for putting down the Bank of the United States, and for maintaining a sound metallic currency, and, to do this, believed we ought to sustain, as far as we could, state banks; prevailing on them, by all incidental means in our power, to cease the use of small notes, and had hoped we could have succeeded: but specie payments have been suspended, and the ad vocates of this bill say we must try some other experi

ment.

Divorce, divorce, a vinculo matrimonii is the watchword whenever you find a modern democrat.

That there is a divorce, a mensa et thoro existing, I admit, but am of opinion it has been produced by violent temper, and want of due care on the part of the federal head, and too yielding and complying a disposition on the part of the banks, and that the whole might yet be reconciled, at all events to the advantage of the family.

I have heard of cases where a dashing libertine had married a wife, attached to, and every way worthy of him; that he, upon looking farther into the world, concluded if he were freed from his first love, he could be better suited upon a second experiment; and, with a view to obtain a divorce, threw temptations in his wife's way which she had not stern virtue enough to resist; she sinned, and then he applied for a divorce. And what have courts of conscience said in such cases? Depart hence! you contributed to your wife's transgression, and shall not profit by your own iniquity.

Apply these principles to this case. When the executive wooed and won the state banks, they were pure and unsullied. Their utmost exertions were necessary to aid in prostrating the Bank of the United States; they were coaxed, almost commanded, to extend their loans. They did so, to imprudent lengths. The executive saw and knew this. Were they admonished to diminish their discounts? Never! So far as I know, on the contrary, they were eulogised up to July, 1336; then came the executive denunciations, and they have never since ceased.

The executive is to blame, so are the banks; but on account of their quarrel, the great American family ought not to be sacrificed.

2d. The other object of the bill is to compel our colThe banks are state institutions; society have a deep lectors and receivers to cease depositing money in banks, interest in their maintaining a sound currency; this can and to compel them to deposite all moneys in the hands only be done by resuming specie payments; this they of officers appointed by the president, and removable at never can do until their credit is re-establisned; while his pleasure, there to be kept till needed for disburse the whole weight of a popular administration is against ment. I think this arrangement much worse than to them, they never can resume with a hope of continu- deposite in the banks. ing specie payments. You separate now, and why? 1st. Because the directors and officers of the banks Because, say the whole administration and its friends, will be more likely to be faithful than officers appointed and if we pass this bill we join in the cry, they are un- by us. The stockholders will always intend to select worthy of credit! Every man who believes this state- those who will be most likely not to waste their moneys. ment, and has a claim against them, would apply for Our officers for some time have been, and I consider his money, and they would be compelled immediately the system is to be continued, selected more with a to stop again. view to influence in elections than to any qualifications for the particular offices they are to fill. Let me not be misunderstood. I do not mean to say that every officeholder is a mere party tool. I think there are many who are not. But I do mean to state it as my opinion that now, and for some time past, the principal qualifica tion looked for is political influence; and such men appointed from such motives, I think will generally be unsafe depositaries. Supposing these officers equally faithful, they will not generally have places as safe as those provided by banks.

Take the weight of the federal government off them, it is now pressing them into the dust, and while it is upon them, you might as well order a man, whose legs had been cut off, to jump to his feet and walk, as to require them to resume, with a hope that they can do so. Let their credit be again restored, and if we must separate, they could better then, than now, sustain the shock.

The federal government obtained the use of them when their credit was good; it should be restored, and then, if ever, they ought to be returned, in equally good credit, to the exclusive use of the states.

Suppose we pass this bill, and then the banks resume, five-sixths of the revenue must be taken in their notes; in a very short time, enough would be received to enable your depositories to withdraw so much of their specie as to compel them to suspend. And if they do not resume, their paper depreciates, and specie becomes an article of merchandise, and thus the federal servant will receive better money than the state officers, or the masters of both-the mass of the people. The state banks never can resume with a hope of doing a profitable business.

Suppose the system in complete operation. Then all the revenue is received in specie, your average surplus in the treasury will be at least seven or eight millions of dollars. This, if left in the banks, would furnish a specie basis upon which sately to issue three for one. Hence, by this process, you abstract and lock up twenty or twenty-five millions of dollars of the circulating medium, which is of no more use to the government or individuals than if sunk in the ocean.

Banks go to excess occasionally, and there is temporary suffering; so of every thing else—we have nothing good but what produces evil when carried to excess. Banks issue too much paper, but that is no reason they should all be destroyed. Over issues produce individual suffering, but even this is productive of some benefit. It makes roads and canals, and improves plantations. takes place, yet the improvements remain for the beneAlthough all these change owners when a curtailment fit of the people at large.

What do gentlemen mean? Do they mean to put us back to the year eleven hundred, when they say banks commenced? Are we to quit our ordinary business, and commence wading branches in search of golden pebbles, to add to the stock of precious metals. Are we to give up the earnings of our families, our porringers, and our spoons to this Aaron of democracy, that he may melt them, and, with his graving tools, make us our own metallic god to worship? The more free a country is, the more prone are its people to run into Great Britain before the establishment of her bank? excess, and none so much as our own. What was Like other nations, who are destitute of every thing but a specie circulation, poor, unthrifty, anti-commercial. And what is she now?

We need a larger circulation than any country upon earth of the same population, because we are freer than any other. The circulation ought always to bear a due proportion to all saleable or exchangeable commodities. In some of the states every thing is of that description. Entails are destroyed, all property, real and personal, is unfettered, and for sale whenever a man thinks he can better himself by selling in an old, and purchasing in a new, state. In many states so much is land unfettered that it can be sold in fee simple upon a writ of fieri facias.

In our country a man's capital, in many instances, is his character for integrity, his capacity for business and his business habits. These give him credit with banks. With the aid of bank accommodations, in many instances he makes himself wealthy in a few years, and every man who adds to his own stock of wealth enriches the whole country.

Give me wealthy people and a poor treasury, and then the country is rich, and its liberty safe.

Destroy banks, and you throw every man again into the hands of capitalists, Jews, money-lenders, where few can borrow who cannot mortgage land to secure payment. Whereas banks always feel it a favor conferred on then when they can get a good customer.

Although I speak thus freely of the utility of banks, they never have been favorites of mine, but we must have them. The country cannot, and will not do with out them.

Again: This plan will occasion a great increase of expense. New officers, clerks, visiters, houses, safes, vaults, &c. There will be no effectual checks, either upon those officers or upon disbursing officers. It is said there have been, in modern times, but few losses by defalcation of disbursing officers.

One principal, if not the sole reason of this is, the check upon them, by ordering them, whenever their position will enable them to do so, to keep their moneys in banks, and every week or month an account is furnished the secretary of the treasury by the deposite bank, showing the sums deposited, and by whom. This furnishes strong reasons against using or loaning money; immediate detection would be the consequence.

Under the proposed system this check is entirely removed, and the public money will, in many cases, be misused.

I now have in my drawer a document showing what has been done in one case by an officer in whose integri ty I once had unlimited confidence. He collected a large claim from one debtor to the government, and iminediately loaned the amount received to some political friends, not only without authority, but contrary to his instructions, and, at this moment, two suits are pending against these new debtors, who have refused to pay their notes as they fall due. If I mistake not, one of the parties to this very transaction has been appointed to, and now holds an office which will make him a sub-treasurer if this bill should pass.

letter read by the senator from Missouri, which he has A bank in my own state has been alluded to in a received from the late chief magistrate.

A brief review of the history of that bank, and mat

ters connected with it, may be of use to us on the subject under consideration.

The act establishing that bank was passed at a called session, in the year 1820. The charter of the United States Bank was passed in 1816, and the bank went into actual operation the 1st of January, 1817.

It was an administration measure, and when the bill was before congress, the representative from my district sent me a copy of it, with a request that I would pretty lengthy letter. give him my opinion of its provisions, which I did, in a That opinion was very decidedly against the bill, and the opinion I then formed and expressed I have ever since entertained, and still entertain. He, alone, from Tennessee, as I believe, voted against the bill. For this vote he was attacked at home, and I felt in duty bound to maintain him as well as I could. This brought me in direct conflict with the friends of the United States Bank as early as 1816.

Soon after the bank went into operation, it established branches in Kentucky, and, before the fall of 1817, many of the loans first made had fallen due, and payment was exacted. To this the people had not been accustomed; and, as is always the case, although the bank had been popular when making loans, it soon be came very unpopular when trying to collect its debts. Stories of the ruinous eperations of the bank in Kentucky soon reached us in Tennessee, and, in the an tumn of 1817, with a view to save Tennessee from the like oppression, her legislature passed an act, as I believe, unanimously, imposing a very heavy tax, say fifty thousand dollars, upon any persons attempting to bank in Tennessee without authority from the state.

A few years since, while the controversy was going on with the Bank of the United States, the senate created a committee, of which Mr. Tyler, of Virginia, was a member, to examine into its proceedings, and when they made their report, for the first time, I found a letter dated in 1818, now bound up in our documents, soliciting the president of the bank to establish a branch in Nashville, notwithstanding the act of assembly, informing him that the act was passed by contracted, illiberal men, and, after furnishing a list of names for directors, assuring him that if a branch was established, and directors appointed from the list, he would see that a good account should be given of those who would at tempt to enforce the state law.

We must have a treasury bank, a bank incorporated by congress, or state banks. And I prefer the last. They are the least dangerous, and the states have clearly the If none were to be injured but themselves, I certain-power to incorporate them. The states, in granting Mr. Jones, the then president, answered this letter, ly should feel no inclination to interfere; but I do think charters, can, if they choose, guard generally against and, very properly, refused to send a branch into the it nothing but just that both parties should bear their excesses. If they were to direct all profits over six or state, contrary to the expressed will of the legislature. due proportion of blame, and that a separation ought eight per cent. per annum to go into the treasury, as a Thus the matter rested until 1826, when this same not to be permitted under circumstances by which an school fund, the temptation to shave and to make ex- gentleman was a leading member of the Tennessee unoffending community must be the sufferers. cessive loans would be taken away. And if they would | legislature; and, not having been able to get a branch

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