"Counsel for the people, F. B. Murdoch, city attorney, and Alfred Cowles, esqrs.; for the detence, U. F. Linder, esq. attorney general.”—Cincinnati Gazelle. men have come here without animosity towards clined to receive the note, because he chose to be was also proved that two guns or pistols were fired each other; they are fighting merely upon a point drawn into no controversy with col. Webb. After from the outside of the warehouse at those within; of honor; cannot Mr. Cilley assign some reason for further explanatory conversation, the parties then that showers of stones were discharged against the not receiving at Mr. Graves's hands col. Webb's exchanged the third shot, fairly and honorably, as front of the building, by which the windows were communication, or make some disclaimer which in every instance. Immediately previous to the demolished; that, during the attack, a man named will relieve Mr. Graves from his position?" Mr. last exchange of shots, Mr. Wise said to Mr. Jones, Bishop was shot from the inside of the warehouse; Jones replied, in substance: "Whilst the challenge "If this matter is not terminated this shot, and is that some of the defendants were seen carrying is impending, Mr. Cilley can make no explana- not settled; I will propose to shorten the distance." away his body, observing that one of their men had tions." Mr. Wise said, in substance: "The ex- To which Mr. Jones replied, "After this shot, been wounded; that Mr. Gillman addressed the change of shots suspends the challenge, and the without effect, I will entertain the proposition." crowd from the third story of the building, requestchallenge is suspended for the purpose of explana- After Mr. Cilley fell, Mr. Wise, for Mr. Graves, ing them to desist, and stating that he was defendtion." Mr. Jones thereupon said he would see expressed a desire to Mr. Jones to see Mr. Cilley.ing his property, which he felt it his duty to do at Mr. Cilley, and did go to him. He returned, and Mr, Jones replied to Mr. Wise, "My friend is the risk of his life; that he was replied to by one of asked Mr. Wise again: "Mr. Wise, do I under- dead;" and went on to Mr. Graves, and told him the defendants, as spokesman for the rest, who obstand aright that the challenge is suspended?" Mr. that there was no objection to his request to see served that they were deterermined to destroy the Wise answered: "It is." Mr. Jones was then Mr. Cilley, When Mr. Jones approached Mr. press, if it cost them their lives. about to proceed, when Mr. Wise suggested that it Graves, and informed him that his request should "It was also proved by the mayor and S. W. was best, perhaps, to give the explanation or rea- be granted, Mr. Graves inquired, "How is he?" Robbins, a justice of the peace, that they identified son in writing. Mr. Jones then said, in substance: The reply was, "My friend is dead, sir." Mr. several of the defendants, with arms in their hands, "Mr. Wise, if you require me to put what I have Graves then went to his carriage. Mr. Wise in- declaring that they would have the press; that a to say in writing, I shall require you to put what quired of Mr. Jones, before leaving the ground, man was seen going towards the warehouse with you have said, or may say, in writing." Mr. whether he could render any service, and tendered fire in his hands, swearing that he would burn Wise replied: "Well, let us hear the explanation all the aid in his power. Mr. Wise and Mr. Jones down the building; that a ladder was set up against beforehand, as it may not be necessary to put it in concur that there were three shots exchanged. the side, and the fire actually communicated to the writing." Mr. Jones then proceeded, as he now Such is the naked statement of all the material roof; that at this time Mr. West went in with the thinks, substantially to say: "I am authorized by facts and circumstances attending this unfortunate mayor to propose a capitulation, by which it was my friend, Mr. Cilley, to say, that in declining to affair of honor, which we make in justice to our stipulated that if those inside would leave the warereceive the note from Mr. Graves, purporting to be friends, to ourselves, to all concerned, to the living house and give up the press, they should not be infrom col. Webb, he meant no disrespect to Mr. and to the dead; and it is made for the only purpose jured, and no other property except the press moGraves, because he entertained for hin then, as of allaying excitement in the public mind, and to lested; that the building was accordingly abandonhe now does, the highest respect and most kind prevent any and all further controversy upon a sub-ed by Mr. Gilman and its other defenders, as the feelings; but that he declined to receive the note, ject, which already is full enough of woe. We only means left them to prevent its destruction, because he chose not to be drawn into any contro-have fully and substantially stated wherein we and that of their own lives; that they were fired versy with col. Webb." Mr. Wise thinks this agree and disagree. We cordially agree, at all upon by some of the crowd as they retreated; that, answer to Mr. Jones was, in substance, as follows: events, in bearing unqualified testimony to the fair upon their leaving the warehouse, it was imme"I am authorized by my friend Mr. Cilley, to say, and honorable manner in which this duel was con- diately entered by some of the defendants, and that in declining to receive the note from Mr. ducted. We endeavored to discharge our duties others; that the press was thrown out and demolGraves, purporting to be from col. Webb, he meant according to that code under which the parties met, ished with a sledgehammer, &c. no disrespect to Mr. Graves, because he entertain-regulated by magnanimous principles, and the laws "This constitutes the sum of the evidence on the ed for him then, as he does now, the highest respect of humanity. Neither of us has taken the least ex-part of the prosecution. On the part of the defendand the most kind feelings; but my friend refuses ception to the course of the other; and we sincerely ants it was proven by Mr. Gillman that he was not to disclaim disrespect for col. Webb, because he hope that here all controversy whatever may cease. the owners of the press, and had no further interest does not choose to be drawn into an expression of We especially desire our respective friends to make in it than the liability of himself and partner for its opinion as to him." Such is the substantial differ- no publication on the subject. None can regret safe-keeping. After argument by counsel, the case ence now between the two seconds, as to this the termination of the affair more than ourselves, was submitted to the jury, who returned a verdict answer of Mr. Jones. The friends on each side, and we hope again that the last of it will be the sig- of not guilty. with the seconds, then retired from each other to natures of our names to this paper, which we now consult upon this explanation. After consultation, affix. Mr. Wise returned to Mr. Jones, and said: "Mr. GEO. W. JONES. Jones, this answer leaves Mr. Graves precisely in HENRY A. WISE. the position in which he stood when the challenge was sent." Much conversation then ensued between the seconds and their friends, but no nearer A brief notice that the Alton trials had resulted approach to reconciliation being made, the chal-in the acquittal of all the parties, has been for some lenge was renewed, and another shot was ex- time travelling the rounds of our newspaper press. changed in a manner perfectly fair and honorable These trials involved the riots, arson, and murder to all parties. After this, the seconds and the of last November, at Alton, and such reports as we friends again assembled, and the challenge was have seen are very perplexed and unsatisfactory. again withdrawn, and a very similar conversation In the first case that attracted my attention, it to that after the first exchange of shots again en- appeared that the court disclaimed jurisdiction. sued. Mr. Jones then remarked: "Mr. Wise, my From what I could collect, the court was a newly friend, in coming to the ground, and exchanging organized city tribunal, which, with its entire jushots with Mr. Graves, has shown to the world, risdiction, had been created subsequent to the that in declining to receive the note of col. Webb, transactions drawn into question before it. Hence he did not do so because he dreaded a controversy; its disclaimer of jurisdiction. In that case, the He has shown himself a brave man, and disposed to render satisfaction to Mr. Graves. I do think that he has done so, and that the matter should end here." To this, Mr. Wise replied in substance: "Mr. Jones, Mr. Cilley has already expressed his respect for Mr. Graves in the written correspondence and Mr. Graves does not require of Mr. Cilley a certificate of character for col. Webb; he considers himself bound not only to preserve the respect due to himself, but to defend the honor of his friend, col. Webb." These words of Mr. Wise, Mr. Jones recollects, and Mr. Wise thinks he added the words: "Mr. Graves only insists that he has not borne the note of a man who is not a man of honor, and not a gentleman." After much more conversation, and ineffectual attempts to adjust the matter, the challenge was again renewed; and whilst the friends were again loading the rifles for the third exchange of shots, Mr. Jones and Mr. Wise walked apart, and each proposed to the other anxiously to settle the affair. Mr. Wise asked Mr. Jones "If Mr. Cilley could not assign the reason for declining to receive the note of col. Webb, that he (Mr. Cilley) did not hold himself accountable to col. Webb for words spoken in debate?" Mr. Jones replied that "Mr. Cilley would not assign that reason, because he did not wish to be understood as expressing the opinion whether he was or was not accountable for words spoken in debate." Mr. Wise then, according to his recollection, asked Mr. Jones whether "Mr. Cilley would not say, that in declining to receive the note of col. Webb, he meant no disrespect to Mr. Graves, either directly or indirectly?" To which Mr. Jones replied in the affirmative, adding, "Mr. Cilley entertains the highest respect for Mr. Graves, but de THE ALTON AFFAIR. THE HON. MR. RUGGLES. The following is Mr. Jones' statement of the transaction with Mr. Ruggles in relation to his patent lock. it remembered that on this tenth day of February, State of New Jersey, Essex county, to wit:-Be in the year of our Lord, 1838, before me, Jacob L. Douglass one of the justices of the peace in and for the county of Essex aforesaid duly commissioned and sworn and residing at the city of Newark, in said county, personally appeared Henry C. Jones, of the city of Newark aforesaid, of full age, who being by me duly sworn according to law, on his oath deposeth and saith: that in the month of January last, he, this deponent, went to the city of jury found the defendants guilty of the fucts charged, Washington, for the purpose of ascertaining the and not guilty for defect of jurisdiction of the court. sufficiency of the specification, upon which a paTo the profession, generally, this would appear a tent of a lock for trunks, bags &c. had been premost anomalous proceeding, indicating a mere viously granted to this deponent, and of procuring mockery of justice. Whether the other cases were brought on before the same unauthorized court, or cient, and also with the view of introducing his a new patent, if the former should prove insuffiwhether it was rendered competent to try and pun- said lock into more general notice, and of procur ish, we are not advised. The parties implicated ing its adoption by the post office department, if have been subjected to the form of trial, and possible. have got the benefits of an acquittal. It is due to the country that these trials should be better under-deponent applied to the hon. Henry L. Ellsworth, That on or about the 25th January last past, this stood. commissioner of the patent office, at the patent office in the city of Washington, and requested his opinion as to the sufficiency of the specification on which his patent had been granted, and was by him referred to Dr. Jones and Mr. Keller, whom he found in a private apartinent in the patent office, known as the secret archives, and also a third per son, then unknown to this deponent. The Alton Telegraph, edited by J. Baillhache, gives us a sketch of the trials which last look place. They appear to have been had in the municipal court. The parties who defended the house were charged with riot in one indictment; the assailants were charged with the same offence, in another indictment. We subjoin the Telegraph sketch of this latter trial. That the deponent then submitted his patent and "On the part of the people, it was proved that specification, to the three persons above mentioned, the press had arrived by steamboat a day or two all of whom concurred in declaring them to be inprevious to the 7th of November. consigned to Mr. sufficient; this deponent thereupon inquired for a A. B. Roff, but was landed at Messrs. Godfrey & competent person whom he could procure to draw Gilman's warehouse, where it was stored; that said a new and correct specification, when the person warehouse was built by those gentlemen in 1832, above alluded to, and who was then unknown to and has been since that time owned and occupied this deponent, offered to draw a new specification by them, as forwarding and commission merchants; for the deponent, and on this deponent's enquiring that, on the afternoon of November 7, one of the what would be his charge for so doing, answered defendants had told the witness (H. H. West, esq.) that "he did not know, perhaps nothing; he would that the boys were going to attack the warehouse, see when it was done." This deponent then enand that it would either be blown up or burnt, un- quired for his address, and on its being given, less the press was given up; and that some of the learned, to his surprise, that he was the hon. John defendants were in a company of about twenty-five, Ruggles, U. S. senator from Maine. This dethat formed a line from a certain grocery, swearing ponent by the invitation of Mr. Ruggles, called that they would have the press at all hazards. It upon him at his lodgings, on the evening of that day, and also on the evenings of the two succeed-| ing days, and during those interviews had considerable conversation with Mr. Ruggles respecting the lock which this deponent had invented, and for which he was desirous to obtain a new patent. In the course of these conversations, Mr. Ruggles spoke repeatedly and strongly of the great difficulty of preparing specifications correctly, and of the large number of specifications that were incorrectly made, and also observed that he was the framer of the present patent law, and could therefore prepare specifications under it better than any other person. During the conversation above named, this deponent also expressed his desire to procure the adoption of his lock for mail bags, by the postoffice department, and Mr. Ruggles said he had considerable influence with the post office department, and proposed to this deponent, that if this deponent would give him an interest in the profits arising from the manufacture and sale of the locks, he, (Mr. R.) would use his influence to procure its adoption by the department. Mr. Ruggles at the same time proposed that the assignment of interest in the lock should be made in the name of his (Mr. Ruggles') brother who lives at Worcester, Massachusetrs, and requested this deponent not to let it be known, that he (Mr. R.) had any interest in the lock, as, if known, it might lessen his influence in procuring it to be adopted by the post office department. This deponent objected to making an assignment to Mr. Ruggles' brother, without having seen him, and Mr. Ruggles subsequently, in one of the committee rooms at the capitol, said that he would take the assignment in his own name. This deponent took the said paper, but declined | zie are supposed to be here. The militia have been signing it at the time, saying that he wished oppor-ordered out, under the command of gen. Brady, to tunity to examine it. Mr. Ruggles strongly urged maintain the stipulated neutrality between the deponent to sign said writing, saying, among other United States government and that of the Canadas; things, that he had discovered an improvement of but general B., finding their sympathies so strongly the lock which he would communicate to this de- in favor of the patriot cause was obliged to disponent, if he would sign the said paper, but this charge them. The only force, therefore, now en deponent persisted in declining to sign it. In the gaged in this service is a company of the United course of the conversation which then took place, States troops, sent from Buffalo by general Scott, this deponent remarked that he wished his lock to which is stationed at Gibralter. The patriot army stand on its own merits; and to which Mr. Rug. which is scattered along this portion of the frontier, gles replied "Things do not go down here on is from fifteen hundred to two thousand strong, and their own merit, but by pulling the right strings, is well supplied by its officers, with all the necesand if you will make me interested, I will pull the sary munitions of war. Few, however, of the solright string, otherwise, I will have nothing to do diers are to be found in the principal towns, but are about it, unless you will sign the paper before you dispersed through the interior at some distance go home." This deponent and Mr. Ruggles then from the shore, who stand ready, at a moment's parted. Mr. Ruggles taking with him the specifi- warning, to rush to the rallying points, and enter cation and the old patent; the latter, however, the upon actual service. Despatches were yesterday deponent succeeded in obtaining from him on the sent to different quarters, the object of which, as is evening of the same day, and having by the aid of supposed, was to collect, and march to the point real friends, procured a new specification to be designated for the complete organization of the arprepared by a competent person, succeeded at last my. You will see, therefore, that, should nothing in procuring a new patent without the friendly occur to arrest the present movements, a descent offices and assistance of the hon. John Ruggles, of will be made upon Canada as early as Sunday or Thomaston in the state of Maine, and without Monday next. The intention is to cross the ice a sacrificing the quarter part of his earnings for four-mile or more below Gibralter, and enter the proteen years to come. vince at a sufficient distance from the fort at Malden to avoid being borne down upon by the ordnance stationed there for its defence. HENRY C. JONES, Sworn to and subscribed the day and year first JACOB L. DOUGLASS, OFFICIAL-FIRE. West Point, Feb. 19, 1838. to extinguish it useless. I am, in haste, truly yours, &c. In relation to the force at Malden, it is variously estimated at from five to eleven hundred regular troops; the latter of which must fall nearer the truth, provided the intelligence of last evening was correct, that a reinforcement of eight hundred men from Toronto had been received. Prior to this, Several days having elapsed after Mr. Ruggles Sir: It becomes my duty to inform you that the however, the force at Malden must have been very had undertaken to prepare the specification, and buildings occupied by the engineering, chemical, inconsiderable. this deponent being desirous to return home, and and philosophical departments, and the library, You will see, from what I have written, that the to avoid the expense of a protracted stay at Wash- were consumed last night by fire. The fire origi- spirit of revolution is not, as has been supposed, ington, he becane urgent with Mr. Ruggles tonated in one of the engineering rooms, used on extinguished. It is true, indeed, that some of its complete the specification, and finally, on the first Sundays as a reading room, and was not discover-leading enterprises have miscarried; but it is also day of this present month, Mr. Ruggles informed ed until it had so far spread as to render all efforts true that, while the fortune of war seemed unpropithis deponent that the specification was completed. tious, the brutality and oppression which have been They accordingly on the same day, went together executed upon those who, during the recent strugto the patent office and after this deponent had made gle, have fallen into the hands of tyrants, have fanaffidavit to the specification which Mr. Ruggles ned the fire of revolution into a fiercer flame. had prepared, and this deponent had also paid to the proper officer the fees required for securing a new patent, he, this deponent, requested Mr. Ruggles to deliver to him the specification to be deposited with the proper officer and also the old patent that he might give it up to be cancelled, which was necessary to be done before a new patent could be obtained, Mr. Ruggles declined giving them to the deponent alleging that he wished to make some alteration in the specification in order to render it more correct, to which the deponent objected inasmuch as it had been sworn to by him and therefore ought not to be altered. Mr. Ruggles then requested this deponent to retire with him into the apartment used as a depository of models, and there presented to this deponent a paper purporting to be a memorandum of covenants and agreements between the said John Ruggles and this deponent, which he requested this deponent to sign, and of which the following is a true copy from the original now in the possession of this deponent, omitting the erasures In communicating this unfortunate occurrence to you, it is gratifying to have it in my power to state that the books of the library, the philosophical instruments, and the chemical apparatus, were all saved, by the timely exertions of the officers and cadets. Of course, many articles have been more or less injured in the rapid manner in which they had to be removed, but the lose will be inconsiderable, compared with the value of property exposed. The adjutant's office was immediately over the room where the fire originated, and I regret to inform you that all the records and papers were destroyed. I have been busy this forenoon in having the books and instruments secured, and have occupied rooms at the hotel for that purpose. The misfortune will only cause a delay of two or three days in the academic exercises. I have, sir, to request that a court of inquiry may be ordered for the purpose of investigating the cause of the accident." No time will be lost in laying before you the extent of the damages sustained. With the highest respect, I have the honor to be, sir, R. E. DE RUSSEY, IMPORTANT FROM DETROIT. Detroit, Saturday, Feb. 17. "Intelligence reached here this morning that the patriots crossed over to the Canada shore last evening, with a strong force. They entered the province below Malden, according to previous' arrangements." Correspondence of the Albany Argus. Adams, Jefferson, co. Feb, 19, 1838. The state arsenal at Watertown was broken open last evening, and some 500 muskets was taken out. Fairbanks, who is the keeper, has offered a reward of $250 for the recovery of them. There begins to be some excitement here upon the subject of Canada. Many loads of men and provisions have been and are now passing here for the north. Some of them have called at the different stores for powder, and have bought all that was for sale by the keg. Whether it will amount to any thing or not, we cannot determine. [The report is, that there is a considerable force on the frontier, in Jefferson county, and that a descent upon Canada, at some point, is contemplated. We doubt it, however.] A letter from Hamilton, dated 12th February, in the Rochester Democrat, states that there was a riot at Toronto on the 9th, in which four were kil The following letter was received by this morn-led and several wounded. city, now in Detroit, whose statements are made Detroit, Friday, Feb. 16. "Memorandum of covenants and agreements made and entered into by and between Henry C. Jones, of Newark, in the state of New Jersey on Brig. Gen. CHARLES GRATIOT, one part, and John Ruggles of Thomaston, in the state of Maine, on the other part, witnesseth, that whereas the said Jones has taken out a patent for an improved lock for mail pouches, bags, trunks, chests, &c., and the said Ruggles has become interested by assignment in the said patent-Now, ing's mail, from a gentleman, a resident of this therefore, in consideration thereof, the said Jones claiming the special right, during the term of the patent, of manufacturing all said locks, which the said Ruggles, his agents or assigns shall want, or for which he or they may find a sale, the said Jones As but little intelligence has recently been found for himself, his heirs and assigns, covenants and in the Detroit journals as to the progress of the reagrees to manufacture and deliver all said locks volution in Canada, you may be desirous of being which said Ruggles, his heirs or assigns may apply advised of passing events upon this portion of the for, with reasonable promptness and despatch: and frontier. I have just passed from Lower Sandusky the locks which said Ruggles shall so receive, he to this city, and have collected all the information shall account for and pay to said Jones, his heirs as to the plans, the strength of the patriots, and also or assigns, three fourths of the amount or price the means of resistance with which they are to be which he or they shall receive or realize from opposed by the provincial government. A profound others generally. And the said Jones on his part, silence is attempted to be maintained here as to for himself, his heirs and assigns, covenants and the offensive movements of the patriots; so much agrees to render an account to the said Ruggles, so, indeed, that by many, even here, the enterprise his heirs and assigns, of all said locks he, his heirs is supposed to be abandoned; and were I not satisor assigns shall dispose of, and pay to said Radd that a decisive blow will be struck before you gls, his heirs or assigns, one fourth part of the shall have received this letter, I should not feel at sums or price received therefor, (not, however, liberty to address you on the subject. being accountable for bad debts contracted in the state thereof,) first deducting the expense of manufacturing the same. Gen. Van Rensselaer is here in person, though he appears only "incog.," and Southerland and Freeland are also here, and Duncombe and McKen SPEECH OF MR. WEBSTER, ON THE SUB-TREASURY BILL. "Let the government attend to its own business, and let the people attend to theirs." "Let the government take care that it secures a sound currency for its own use, and let it leave all the rest to the states and the people." These ominous sentences, Mr. President, have been ringing in my ears ever since they were ut tered yesterday by the member from New York. Let the government take care of itself, and the people take care of themselves. This is the whole principle and policy of the administration, at the present most critical moment, and on this great and all-absorbing question of the currency. Sir, this is an ill-boding announcement. It has nothing of consolation, of solace, or of hope in it. It will carry through all the classes of commerce and business nothing but more discouragement and deeper fears. And yet this is but repetition. It is only a renewed exhibition of the same spirit which | vernment can retreat, wherein it can hide, and of government, that they all spring from some exwas breathed by the message and the bill of the screen itself from the loud voice of the country, traneous and independent cause. If the honorable last session, of which this bill is also full, and calling upon it to come forth to fulfil its promises, member means that the disasters which have fallen which has pervaded all the recommendations and all or at least, now that these promises are all broken, upon us arise from causes which government canthe measures of government since May. Yet I to perform its duties. The evils of a disordered not control; such as overtrading or speculation, and confess that I am not, even yet, so familiar with it, currency are evils which do not naturally correct or that government is answerable for nothing, I can so accustomed to hear such sentiments avowed, as cure themselves. Nor does chance, or good luck, understand him, though I do not at all concur with that they cease to astonish me. I am either grop-often relieve that community which is suffering him. But that the resources of the country are not ing in thick and palpable darkness myself, in re- under them. They require political remedy; they now in a state of great depression and stagnation gard to the true objects of the constitution, and the require provisions to be made by government; they is what I had supposed none would assert. Sir, duties of congress under it, or else these principles demand the skilful hand of experienced statesmen. what are the resources of the country? The first of public policy, thus declared, are at war with our Until some just remedy be applied, they are likely of all, doubtless, is labor? Does this meet no immost positive and urgent obligations, to continue, with more or less of aggravation, and pediment? Does labor find itself rewarded, as hereno man can tell when or how they will end. It is tofore, by high prices, paid in good money? The vain, therefore, quite vain, for government to hope whole mass of industry employed in commerce and that it may retreat from this great duty, shield it- manufactures, does it meet with no obstruction, or self under a system, no way agreeing either with hindrance, or discouragement? And commerce and its powers or its obligations, and thus escape re-manufactures, in the aggregate, embracing capital proaches, by attempting to escape responsibility. as well as labor, are they too in a high career of Mr. President, there is fault and failure some- success? Is nothing of impediment or obstruction where. Either the constitution has failed, or its found connected with their present condition? administration fails. The great end of a uniform and satisfactory regulation of commerce is not answered, because the national currency, an indispensable instrument of that commerce, is not preserved in a sound and uniform state. The honorable member made other observations indicative of the same general tone of political feeling. Among his chosen topics of commendation of the bill before us, a prominent one was to shelter the administration from that shower of imputations, as he expressed the idea, which would always beat upon it as it beats now, when disasters should happen to the currency. Indeed! And why should the administration, now or ever, be sheltered from that shower? Is not currency a subject over which the power and duty of government extend? Is not government justly responsible for its condition? It is not, of necessity, wholly and entirely under the control and regulation of poIs the fault in the constitution itself? Those litical power? Is it not a matter, in regard to which, who affirm that it is, must show how it was, if that the people cannot, by any possibility, protect them- be so, that other administrations, in other times, selves, any more than they can, by their own indi- have been able to give the people abundant satis. vidual efforts, supercede the necessity of the exer- faction in relation to the currency. I suppose it cise by government of any other political power? will be said, in answer to this, that the constitution What can the people do for themselves, to improve has been violated; that it was originally misconthe currency? Sir, the government is justly an- strued; that those who made it did not understand swerable for the disasters of the currency, saving it; and that the sage and more enlightened politialways those accidents which cannot at all times cians of our times see deeper and judge more justly be foreseen or provided against. It is at least of the constitution than Washington and Madison. answerable for its own neglect, if it shall be guilty Certain it is, that they have more respect for their of it, in not exercising all its constitutional authori- own sagacity than for all the wisdom of others, and ty for the correction and restoration of the cur-all the experience of the country; or else they find rency. Why does it, how can it, shrink from this themselves, by their party politics and party comresponsibility? Why does it seek not the laurels of mitments, cut off from all ability of adininistering victory, not the reputation, even of manly contest, the constitution according to former successful but the poor honors of studied and eager escape? practice. Sir, it never can escape. The common sense of all men pronounces that the government is, and ought to be, and must be, answerable for the regulation of the currency of the country; that it ought to abide, and must abide, the peltings of the storm of imputation, so long as it turns its back upon this momentous question, and seeks to shelter itself in the safes and the vaults, the cells and the caverns of a sub-treasury system. But of all governments that ever existed, the present administration has least excuse for withdrawing its care from the currency, or shrinking from its just responsibility in regard to it. Again, sir; among our American resources, from the very first origin of this government, credit and confidence have held a high and foremost rank. We owe more to credit, and to commercial confitimes more than any nation, except England. Credence, than any nation which ever existed; and ten dit and confidence have been the life of our system, and powerfully productive causes of our prosperity. They have covered the seas with our commerce, replenished the treasury; paid off the national debt, excited and stimulated the manufacturing industry, encouraged labor to put forth the whole strength of its sinews, felled the forests, and multiplied our numbers, and augmented the national wealth, so far beyond all example, as to leave us a phenomenon for older nations to look at with wonder. And this credit, and this confidence, are they now no way obstructed or impeded? Are they now acting with their usual efficiency, and their usual success, on the concerns of society? The honorable member refers to the exchanges. No doubt, sir, the rate of foreign exchange has Mr. President, when I contemplate the condition domestic concerns had been in a proper condition. nothing in it alarming. Nor has it had, if our of the country; when I behold this utter breaking But that the internal exchanges are in a healthifel down of the currency, this wide spread evil among condition, as the honorable member alleges, is what all the industrious classes, this acknowledged in- I can by no means admit. I look upon the de ability of government to pay its debts legally, this rangement of the internal exchanges as the precise prostration of commerce and manufactures, this form in which existing evils most manifestly exhishocking derangement of internal exchange, and bit themselves. Why, sir, look at the rates bethe general crash of credit and confidence; and tween large cities in the neighborhood of each when I see that three hundred representatives of other. Exchange between Boston and New York, the people are here assembled, to consult on the and also between Philadelphia and New York, is public exigency; and that, repudiating the wisdom of our predecessors, and rejecting all the lights of 13 to 2 per cent. This could never happen but our own experience, nothing is proposed, for our healthful state of domestic exchange? from a deranged currency; and can this be called a Its predecessor, to whose footsteps it professes to adoption, to meet an emergency of this charactread, has interfered, fatally interfered, with thatter, but the bill before us, I confess, sir, the whole towards equalizing exchange between New Orleans I understand that the cotton crop has done much subject. That interference was, and has been, the seems to me some strange illusion. I can hardly and New York; and yet I have seen, not many productive cause of our disasters. Did the admin. persuade myself that we are all in our waking days since, that in other places of the south, I beistration disclaim power over the currency in 1833, senses. It appears like a dream, like some phan-lieve Mobile, exchange on New York was at a prewhen it removed the deposites? And what meant tasy, of the night, that the opening light of the mium of 5 to 10 per cent. all its subsequent transactions, all its professions, morning usually dispels. and all its efforts, for that better currency which it There is so little of apparent relation of means promised, if, in truth, it did not hold itself respon- to ends; the measure before us has so little to pro. sible to the people of the United States for a good mise'for the relief of existing evils; it is so alien, so currency? From the very first year of the late ad-outlandish, so abstracted, so remote from the causes ministration to the last, there was hardly a session, which press down all the great public interests, that if there was a single session, in which this duty of I really find it difficult to regard as real what is thus government was not acknowledged, promises of around me. high improvement put forth, or loud claims of merit Sir, some of us are strangely in error. The difasserted, for benefits already conferred. It pro-ference between us is so wide, the views which we fessed to erect the great temple of its glory on im. provements of the currency. take of public affairs so opposite, our opinions, both of the causes of present evils and their approAnd, sir, the better currency, which has been so priate remedies, so totally unlike, that one side or long promised, was not a currency for the govern- the other must be under some strange delusion. ment, but a currency for the people. It was not Darkness, thick darkness, hangs either over the for the use of revenue merely but for the use supporters of this measure or over its opponents. of the whole commerce, trade, and business of Time, and the public judgment, I trust, will sooner the nation. And now, when the whole indus- or later disperse these mists, and men and measures try, business, and labor of the country, is har-will be seen in their true character. I think, inassed and distressed by the evils brought upon deed, that I see already some lifting up of the fog. us by its own interference, government talks with The honorable member from New York has said all possible coolness of the great advantage it will be to adopt a system which shall shield itself from a thick-falling shower of imputations. It disclaims, it renounces, it abandons its duties, and then seeks an inglorious shelter in its professed want of power to relieve the people. that we have now already existing a mode of con- The manufacturers of the north can say how they have found, and how they now find, the facili ties of exchange. I do not mean exclusively, or principally, the large manufacturers of cotton and woollen fabrics; but the smaller manufacturers, men who, while they employ many others, still bestow their own labor on their own capital; the shop manufacturers, such manufacturers as abound in New Jersey, Connecticut, and other parts of the north. I would ask the gentlemen from these states how these neighbors of theirs fi: d exchanges, and the means of remittance, between them and their correspondents and purchasers in the south. The carriage makers, the furniture makers, the hatters, the dealers in leather, in all its branches, the dealers in domestic hardware; I should like to hear the results of the experience of all these persons, on the state of the internal exchanges, as well as the general question whether the industry of the country has encountered any obstacle in the present state of the currency. Mr. President, the honorable member from New York stated correctly, that this bill has two leading object. The first is, a separation of the revenue, and the funds of government, from all connexion with the concerns of individuals, and of corporations; and especially a separation of these funds from all connexion with any banks. We demand the better currency; we insist on the fulfilment of the high and flattering promises; and surely there never was a government on the face of The present system, he insists, must at least be the earth that could, with less propriety, resist the admitted not to have obstructed or impeded the The second is, a gradual change, in our system demand; yet, we see it seek refuge in a bold, cold, beneficial action of the immense resources of the of currency, to be carried on till we can accom and heartless denial of the competency of its own country. Sir, this seems to me a most extraordi-plish the object of an exclusive specie or metallic constitutional powers. It falls back from its own nary declaration. The operation and energy of the circulation, at least in all payments to government, undertakings, and flatly contradicts its own preten-resources of the country not obstructed? The busi- and all disbursements by government. sions. In my opinion, it can find no refuge, where ness of the community not impeded? Why, sir, Now, sir, I am against both these propositions, the public voice will not reach it. There can be this can only be true upon the supposition that the ends as well as means. no shelter, while these times last, into which go- present evils are no way attributable to the policy I am against this separation of government and people, as unnatural, selfish, and an abandonment, litical ideas, and brings this important department | STOP SPECIE PAYMENT. The late measure of the of the most important political duties. down to a thing of bricks and mortar. It enacts secretary, and the infatuation with which it seems that certain rooms in the new building, with their to be supported, tend directly and strongly to that safes and vaults, shall constitute the treasury of the result. Under pretence, then, of a design to reUnited States! And this adoption of new and turn to a currency which shall be all specie, we strange notions, and this abandonment of ail old are likely to have a currency in which there shal ideas, is all for the purpose of accomplishing the be no specie at all. We are in danger of being great object of separating the affairs of government overwhelmed with irredeemable paper; mere paper, from the affairs of the country. The nature of the representing notgold or silver; no, sir, representing means shows the nature of the object; both are nothing but BROKEN PROMISES, BAD FAITH, BANKnovel, strange, untried, and unheard of. The RUPT CORPORATIONS, CHEATED CREDITORS, AND scheme, sir, finds no precedent, either in our own A RUINED PEOPLE!" history, or the history of any other respectable na- And now, sir, we see the upshot of the experition. It is admitted to be new, original, experiment. We see around us bankrupt corporations mental; and yet its adoption is urged upon us as and broken promises, but we see no promises more confidently as if it had come down from our ances- really and emphatically broken than all those protors, and had been the cherished policy of the mises of the administration which gave us assurcountry in all past times. ance of a better currency. These promises, now broken, notoriously and openly broken, if they cannot be performed, ought at least to be acknowledged. The government ought not, in common fairness, and common honesty, to deny its own responsibility, seek to escape from the demands of the people, and to hide itself, out of the way and beyond the reach of the process of public opinion, by retreating into this sub-treasury system. Let it, at least, come forth, let it bear a port of honesty and candor; let it confess its promises, if it cannot perform them; and, above all, now, even now, at this late hour, let it renounce schemes and projects, the inventions of presumption, and the resorts of desperation, and let it address itself, in all good faith, to the great work of restoring the currency by approved and constitutional means. I am for having but one currency, and that a good one, both for the people and the government. I am opposed to the doctrines of the message of September, and to every thing which grows out of those doctrines. I feel as if I were on some other sphere, as if I were not at home, as if this could not be America, when I see schemes of public policy proposed, having for their object the convenience of government only, and leaving the people to shift for themselves, in a matter which naturally and necessarily belongs, and in every other country is admitted to belong, to the solemn obligations and the undoubted power of government. Is it America, where the government, and men in the government, are to be better off than the people? Is it America, where government is to shut its eyes and its ears to public complaint, and to take care only of itself? Is it America, Mr. President, is it your country, and my country, in which, at a time of great public distress, when all eyes are turned to congress, and when most men feel that substantial and practical relief can come only fron congress, that congress, nevertheless, has nothing on earth to propose, but bolts and bars, safes and vaults, cells and hiding places, for the better security of its own money; and nothing on earth, not a beneficial law, not even a kind word, for the people themselves? Is it our country, in which the interest of government has reached such an ascendancy over the interest of the people, in the estimate of the representatives of the people? Has this, sir, come to be the state of things, in the old thirteen, with the new thirteen added to them? For one, I confess I know not what is American, in policy, in public interest, or in public feeling, if these measures be deemed American. But, sir, so far is any such course from all probability of being adopted, so little ground of hope is there that this sub-treasury system will be abandoned, that the honorable member from New York has contended and argued, in his place, that the public opinion is more favorable to this measure now proposed, than to any other which has been suggested. He claims for it the character of a favorite with the people. He makes out this subtreasury plan to be quite high in popular estimation. Certainly, sir, if the honorable member thinks so, he and I see with different eyes, hear with different ears, or gather the means of opinion from different sources. But what is the gentleman's argument? It is this: The two houses of congress, he says, reflect the wishes and opinions of the people; and with the two houses of congress this system, he supposes, is more acceptable than any other. I am against it altogether. I look not to see whether the means be adapted to the end. That end itself is what I oppose, and I oppose all the means leading to it. I oppose all attempts to make a separate currency for the government, because I insist upon it, and shall insist upon it, until I see and feel the pillars of the constitution falling around me and upon my head, that it is the duty of this government to provide a good currency for the country and for the people, as well as for itself. I put it to gentlemen to say, whether currency be not a part of commerce, or an indispensable agent of commerce; and something, therefore, which this government is bound to regulate, and to take care of? Gentlemen will not meet the argument. They shun the question. We demand that the just power of the constitution shall be administered. We assert, that congress has power to regulate commerce, and currency as a part of commerce; we insist that the public exigency, at The first general aspect, or feature of the bill, the present moment, calls loudly for the exercise the character written broadly on its front, is this of this power,-and what do they do? They labor abandonment of all concern for the general cur- to convince us that the government itself can get rency of the country. This is enough for me. It on very well without providing a currency for the secures my opposition to the bill in all stages. Sir, people, and they betake themselves, therefore, to this bill ought to have had a preamble. It ought the sub-treasury system, its unassailable walls, its to have been introduced by a recital, setting forth, iron chests, and doubly secured doors. And having that whereas the currency of the country has be- satisfied themselves, that, in this way, government come totally deranged; and whereas, it has hereto- may be kept going, they are satisfied. A sound fore been thought the bounden duty of this govern- currency for government, a safe currency for revement to take proper care of that great branch of nue; these are the only things promised, the only the national interest; and whereas, that opinion is things proposed. But these are not the old promises erroneous, obsolete, and heretical; and whereas. The country, the country itself, and the whole peoaccording to the true reading of the constitution, ple, were promised a better currency, for their own the great duty of this government, and its exclu-use; a better general currency; a better currency sive duty, so far as currency is concerned, is to take for all the purposes of trade and business. This Now, sir, with the utmost respect for the two care of itself; and whereas, if government can but was the promise, solemnly given by the govern- houses of congress, and all their members, I must secure a sound currency for itself, the people may ment in 1833, and so often afterwards renewed, be permitted to express a doubt, and, indeed, a very well be left to such a currency as the states, through all successive years, down to May last. good deal more than a doubt, whether, on this subor the banks, or their own good fortune, or bad We heard nothing, at that time, of a separation be- ject, and at the present moment, the two houses do fortune, may give thein; therefore be it enacted, tween government and people. No, sir, not a exactly reflect the opinions and wishes of the pec&c. &c. &c. word. Both were to have an improved currency.ple. I should not have adverted to the state of The very first provision of the bill is in keeping Sir, I did not believe a word of all this; I thought opinion here, compared with the state of public with its general objects and general character. It it all mere pretence or empty boasting. I had no opinion in the country, if the gentleman had not abandons all the sentiments of civilized mankind faith in these promises, not a particle. But the founded an argument, on the supposed disposition on the subject of credit and confidence, and carries honorable member from New York was confident; of the two houses, and on the fact that they truly us back to the dark ages. The first that we hear confident, then, as he now is; confident of the suc- set forth the public opinion. But since he has is of safes, and vaults, and cells, and cloisters. cess of the first scheme, which was plausible, as he brought such an argument, it is proper to examFrom an intellectual it goes back to a physical age. is confident of this, which is strange, alien, and re-ine its foundation. From commerce and credit, it returns to hoarding pulsive in its whole aspect. He was then as sure In a general sense, undoubtedly, sir, the memand hiding from confidence and trust, it retreats of being able to furnish a currency for the country, bers of the two houses must be understood to repreto bolts and bars, to locks with double keys, and to as he is now of furnishing a currency for govern- sent the sentiments of their constituents, the pcopains and penalties for touching hidden treasure. ment. He told us, at that time, that he believed ple of the United States. Their acts bind them, It is a law for the times of the feudal system; or a the system, adopted by the late administration, was as their representatives. and they must be considerlaw for the heads and governors of the piratical fully competent to its object. He felt no aların for ed, in a legal sense, as conforming to the will of states of Barbary. It is a measure fit for times the result; he believed all the president had done, their constituents. But, owing to the manner of when there is no security in law, no value in com- from the removal of the deposites downwards, was our organization, and to the periods and times of merce, no active industry among mankind. Here, constitutional and legal, and he was determined to election, it certainly may happen that, at a partiit is altogether out of time and out of place. It place himself by the side of the president, and de- cular monent, and on a particular subject, opinion has no sympathy with the general sentiments of sired only to stand or fall, in the estimation of his out of doors may be one way, while opinion here this age, still less has it any congeniality with our constituents, as they should determine in the re- is another. And how is it now, if we may judge American character, any relish of our hitherto ap-sult. And that result has now come. by the usual indications? Does the gentleman proved and successful policy, or any agreement or As I have said, sir, I had no faith at all in all the hope for no vote, in this body, for this bill, but conformity with the general feeling of the country. such as shall be, in his opinion, in strict accordance The gentleman, in stating the provisions of the with the wishes as generally understood, and most first section, proceeds to say, that it is strange that recently expressed in the state from which that vote none of our laws heretofore has ever attempted to shall come? give to the treasury of the United States a "local habitation." Hence it is the object of this first section of the bill to provide and define such local habitation. A local habitation for the treasury of a great and growing commercial country, in the nineteenth century! Why, sir, what is the treasu rv? promises of the administration, made before and at "I have already endeavored to warn the country The existing laws call it a "department." against irredeemable paper; against bank paper, They say, there shall be a department, with va- when banks do not pay specie for their own notes; rious officers, and a proper assignment of their du- against that miserable, abominable, and fraudulent ties and functions; and that this shall be the de- policy, which attempts to give value to any paper partment of the treasury. It is thus an organized of any bank, one single moment longer than such part of government; an important and indispensa- paper is redeemable on demand in gold and silver. ble branch of the general administration, conduct- And I wish, most solemnly and earnestly, to reing the fiscal affairs of the country, and controlling peat that warning. I see danger of that state of subordinate agents. things ahead. I SEE IMMINENT DANGER THAT But this bill does away with all legal and po-|MORE OR FEWER OF THE STATE BANKS WILL I shall be exceedingly sorry, sir, for instance, to see a vote from Maine given for this bill. I hope I may not. But if there should be such a vote, can the gentleman say that he believes, in his conscience, it will express the wishes of a majority of the people of that state? And so of New Jersey, and one, if not more states in the west. I am quite sure that gentlemen who may give their votes will discharge their duty, according to their own enlightened judgments, and they are in no way accountable to me for the manner in which they discharge it; but when the honorable member from New York contends that this body now accurately represents the public opinion on the sub-treasury system, we must look at the facts. And with all possible respect, for the honorable member, I must even take leave to ask him, whether, in his judg. rounded, as he most justly said, by an intelligent that a national bank, properly constituted, limited, ment, he, himself, is truly reflecting the opinions population; and cities, villages, and country, alto- and guarded, is both constitutional and expedient, and wishes of a majority of the people of New gether, comprising near two millions of souls. All and ought now to be established. So far as I can York, while he is proposing and supporting this this was very well. It was true. The facts were learn, three-fourths of the western people are for it. bill? Where does he find evidence of the favor of with the honorable member. And although I most Their representatives here can form a better judg. the people of that state towards this measure? Does exceedingly regretted and deplored that it was so, I ment; but such is my opinion upon the best infor he find it in the city? In the country? In the could not deny it. And he was entitled to enjoy,mation which I can obtain. The south may be recently elected house of assembly? In the re- and did enjoy, the whole benefit of this respectable more divided, or may be against a national institu cently elected members of the senate? Can he support. But, sir, how stands the matter now? tion; but, looking again to the centre, the north, hame a place-can he lay a venue for the popular- What say these two millions of souls to the sub- and the east, and comprehending the whole in one ity of this measure in the whole state of New York? treasury! In the first place, what says the city of view, I believe the prevalent sentiment is such as I Between Montauk point and Cattaraugus, and be- New York, that great commercial emporium, have stated. tween the mountains of Pennsylvania and the north worty of the gentleman's commendation in 1834, At the last session great pains were taken to obend of lake Champlain, can be any where put his and worthy of his commendation, and my commen- tain a vote of this and the other house against a finger on the map and say, here is a spot where the dation, and all commendation, at all times? What bank, for the obvious purpose of placing such an sub-treasury is popular? He may find places, no sentiments, what opinions, what feelings are pro-institution out of the list of remedies, and so recondoubt, though they are somewhat scarce, where his claimed by the thousands of her merchants, traders, ciling the people to the sub-treasury scheme. Well, friends have been able to maintain their ascend-manufacturers and laborers? What is the united sir, and did those votes produce any effect? None ancy, notwithstanding the unpopularity of the inea- shout of all the voices of all her classes? What is at all. The people did not, and do not, care a rush sure; but can he find one place, one spot, of any it, but that you will put down this new fangled for them. I never have seen, or heard, a single extent, in which this measure of relief is the choice, sub-treasury system, alike alien to their interests man, who paid the slightest respect to those voles the favorite, of a majority of the people? and their feelings, at once, and forever? What is of ours. The honorable member, to-day, opposed Mr. president, the honorable member has long it, but that in me.cy to the mercantile interest, the as he is to a bank, has not even alluded to them. been in public life, and has witnessed often the trading interest, the shipping interest, the manufac- So entirely vain is it, sir, in this country, to attempt changes and the fluctuations of political parties and turing interest, the laboring class, and all classes, to forestall, commit, or coerce the public judgment. political opinions. And I will ask him what he you will give up useless and pernicious political All those resolutions fell perfectly dead on the tables thinks of the hurricane which swept over New schemes and projects, and return to the plain, of the two houses. We may resolve what we please, York in the first week of last November? Did he straight course of wise and wholesome legislation? and resolve it when we please; but if the people ever know the like? Has he before ever been called The sentiments of the city cannot be misunderstood. do not like it, at their own good pleasure they will on to withstand such a whirlwind? or had he pre- A thousand pens and ten thousand tongues, and a rescind it; and they are not likely to continue their viously any suspicion that such an outbreak in the spirited press, make them all known. If we have approbation long, to any system of measures, howpolitical elements was at hand? I am persuaded, not already yet heard enough, we shall hear more. ever plausible, which terminates in deep disappointsir, that he feared such a thing much less than I Embarrassed, vexed, pressed, and distressed, as are ment of all their hopes, for their own prosperity? hoped for it; and my own hopes, although I had her citizens at this moment, yet their resolution is hopes, and strong hopes, I must confess, fell far not shaken, their spirit is not broken; and, depend short of the actual result. And to me, Mr. presi- upon it, they will not see their commerce, their busident, it seems perfectly plain, that the cause of thisness, their prosperity and their happiness, all sacriastonishing change in public opinion is to be found, ficed to preposterous schemes and political empiri. mainly, in the message of September, and the sub-cism, without another, and a yet more vigorous treasury bill of the last session. The message, struggle. And Hudson, and Albany, and Troy, with its anti-social, anti-commercial, anti-popular and Schenectady, and Utica-pray, why may not doctrines and dogmas-the message which set at the citizens of these cities have as much weight nought all our own manners and usages, rejected with the honorable member now, as they justly all the teachings of experience, threatened the state had in 1834? And does he, can he, doubt of what institutions, and, anxious only to take good care of they think of this bill? Ay, sir, and Rochester, and the government, abandoned the people to their fate; Batavia, and Buffalo, and the entire western district the message the message-it was, that did the of the state, does the honorable member suppose great work in New York and elsewhere. that, in the whole of it, he should be able, by careful search, to do more than to find, now and then, so rare a bird, as a single approver of this system? Mr. president, if this system must come, let it come. If we must bow to it, why, then, put it and the president. Congress and the president have the power. But spare us, I beseech you, spare the people from the imputation that it is done under clear proof and evidence of their own approbation. Let it not be said it is their choice. Save them, in all mercy, from that reproach. The message was that cave of Eolus, out of which the careering winds issued: "Una Eurusque notusque ruunt creberque procellis "Africus"mingling seas and skies, dispersing the most power-upon us. Do it. Do it by the power of congress, ful political combinations, and scattering their frag. ments on the rocks and shores. I might quote the poet further, sir, "et vostos volvult ad litora fluctus." The political deep seemed agitated to the very bottom, and its heaving bosom moved onward and forward the "vastos fluctus," in nautical phrase, the big rollors of public opinion. The honorable member may say, or may think, that all this was but the result of a transient impulse, a feverish ebullition, a sudden surprise, or a change superficial, and apparent only, not deep and real. Sir, I cannot say, but I must confess that if the movement in New York last fall was not real, it looked more like reality than any fanciful exhibition which I ever saw. If the people were not in earnest, they certainly had a very sober and earnest way of being in jest. I have said, sir, that, in preference to this bill, I would try some modification of the state bank system; and I will cheerfully do so, although every body knows that I always opposed that system. Still, I think it less objectionable than this. Mr. president, in my opinion, the real source of the evil lies in the tone, and spirit, and general feeling, which have pervaded the administration for some years past. I verily believe the origin is there. That spirit, I fully believe, has been deeply anticommercial, and of late decidedly unfriendly to the state institutions. Do the leading presses in favor of the administration speak its own sentiments? If you think they do, then look at the language and spirit of those presses. Do they not manifest an unceasing and bitter hostility to the mercantile classes, and to the institutions of the states? I certainly never supposed the state banks fit agents for furnishing or regulating a national currency; but I have thought them useful in their proper places. At any rate, the states had power to establish them; and have established them, and we have no right to endeavor to destroy them. How is it, then, that generally, every leading press which supports the administration joins in the general cry against these institutions of the states? How is it, if it be not that a spirit, hostile to these institutions has come to pervade the administration itself? Sir, I think there is a revolution in public opinion, now going on, whatever may be the opinion of the member from New York, and others. I think the fall elections prove this, and that other more recent events confirm it. I think it is a revolt against the absolute dictation of party, a revolt against coercion, on the public judgment; and, especially, a revolt against the adoption of new mischevious expedients on questions of deep public interest; a revolt against the rash and unbridled spirit of change; a revolution, in short, against further revolution. I hope, most sincerely, that this revolution may go on: not, sir, for the sake of men, but for the sake of measures, and for the sake of the country. I wish it to proceed, till the whole The banks, sir, are now making an effort, which country, with an imperative unity of voice, shall I hope may be successful, to resume specie paycall back congress to the true policy of the governments. The process of resumption works, and must ment. In my opinion, the state banks, on every ground, demand other treatment; and the interest of the country requires that they should receive other treatment. The government has used them, and why should it now not only desert, but abuse them? That some of the selected banks have behaved very unworthy, is no doubt true. The best behavior is not always to be expected from pets. But that the banks, generally, deserved this unrestrained_warfare upon them, at the hands of government, I cannot believe. It appears to ine to be both ungrateful and unjust. The honorable member from New York is of opinion, sir, that there are only three courses open to us. We must, he urges, either adopt this measure, or return to a system of deposites with the state banks, or establish a national bank. Now, sir, suppose this to be as the gentleman states, then, I say, that either of the others is better than this. I would prefer doing almost any thing, and I would vastly prefer doing nothing, to taking this bill. And now, sir, can the honorable member, can any man say, that in regard to this measure, even the house of representatives is certain, at this noment, truly to reflect the public judgment? Though nearer to the people than ourselves, and more frequently chosen, yet it is known that the present work, with severity upon the country. Yet I most inembers were elected, nearly all of them, before earnestly hope the banks may be able to accomplish the appearance of the message of September. And the object. But, in all this eilort, they got no aid will the honorable member allow me to ask, whefrom government, no succor from government, not ther, if a new election of members of congress were even a kind word from government. They get to take place in his own state, to-morrow, and the nothing but denunciation and abuse. They work newly elected members should take their seats imalone, and therefore the attainment of the end is the mediately, he should entertain the slightest expecmore difficult. They hope to reach that end only, tation of the passage of this bill through that house? or mainly, by reduction and curtailment. If, by Mr. president, in 1834 the honorable member these means, payment in specie can be resumed and presented to the senate resolutions of the legisla- I need not conceal my own opinions. I am in maintained, the result will prove the existence of ture of New York, approving the previous course favor of a national institution, with such provisions great solidity, both of the banks and of the mercanof the administration in relation to the currency. and securities as congress may think proper, to tile classes. The bank of England did not accomHe then urged strongly, but none too strongly, the guard against danger and against abuse. But the plish resumption by curtailment alone. She had weight due to those resolutions, because. he argued, honorable member disposes of this at once, by the the direct aid of government. And the banks of the they expressed the undoubted sense of the people, declaration, that he himself can never consent to a United States, in 1816, did not rely on curtailment as well as that of the legislature. He said there bank, being utterly opposed to it, both on constitu- alone. They had the aid of the then new created was not, at that time, a single member in the popu- tional grounds, and grounds of expediency. The bank of the United States, and all the countenance, Jar branch of the legislature who was not in favor gentleman's opinions, always respected, is certain- assistance, and friendly support, which the governof those resolutions, either from the cities of Hud-ly of great weight and importance, from the public ment could give them. Still, I would not discour son, Albany, Troy, Schenectady, Utica. or a situation he occupies. But although these are his age the efforts of the banks. I trust they will sucalmost endless number of incoporated trading towns opinions, is it certain that a majority of the people ceed, and that they will resume specie payments at and villages, or the great city of New York itself, of the country agree with him in this particular? the earliest practicable moment; but it is, at the which he justly calls the commercial emporium of I think not. I verily believe a majority of the same time, my full conviction, that, by another and the country; all these cities and villages being sur- people of the United States are now of the opinion a better course of public policy, the government |