Newspaper Page Text
I
Speech ol r. Calhoun on the Suh-Trea»
sui ) Hill.
[ Conliuncil.]
1 next object, that Whatever muv he the rip lit
to enter into the proposed bargain, the mode in
which it is proposed to make it i- ch’arly uncon
stitutional, if I rightly comprehend it. lam not
certain that 1 do; but. it 1 understand it rightly,
the plan rs, for the Secretary of the Treasury to
t-eloct twenty live Stale banka, as described in the
substitute, winch arc to be submitted to the two
Houses to bu continued, or rejected, by their
joint resolutions, without the approval of the
President: in the same mode, as they would ap
point a chaplain, or establish a joint tulc lor the
government of their proceedings.
In acting on the Joint resolution, it what I
suppose he intended, each House would have
the right, of course, to stnko horn it the name ol
arty bank and insert another, which would in
fact vest in the two Houses the uncontrollable
right of making the selection. Now, if this be
the mode proposed, us J inter from the silence ol
the inovcr.it is a plain and palpable viol.it i n on
the Constitution. The obvious intention is, to
evade the veto power of the Executive, which
cannot bn, without an infraction of an express
provision ol the Constitution, drawn up With the
utmost cure, and intended to prevent the pu-si
bilny of evasion. It is contained in lie Istarti
clc, 7lh section, and the list clause, v.niuh J a..!;
the Secretary to read :
[“ Every order, res.iluliun, or vote, to which
the Coiicuricnce of (he Humic and llmi-e ol Kc
ptCM'iitaiives nitay bo nece sary, (except sn a
question of adjournment) Khali be presented to
the President of the Unite,l Stale-’, iiii-l bet ire
l lie same shall lake t fleet, shall be approved by
him, or being disapproved by Him, shall be re
passed by two thirds ol the Senate and House id
Representatives, according to Hie tides and limi
tations prescribed in the case of a bill.”)
Nothing c,n bo more explicit, nr full. It is
no more possible to evade the Executive ve o, on
any joint vole, than in the passage of a lull. The
veto was vested in him not only in piotecl his
own powers, bur us an additional guard to tin-
Constitution. lam not the advocate of Execu
tive power, which 1 bate been nlieri compelled
id resist ol lute, when extended beyond its pro
per Inin is, usl shall ever bu prepared to do when
)t is Nor am I the advocate of legislative or
Judicial. J stand ready to protect all, within the
sphere assigned by the Constitution, end to re
nisi them beyond. To ibis explicit mid com
prebensivo provision ol the I'oii.-'ilutian, in pro
tection of the veto, Ihore is but u single cxeep
• ton, resulting, by necessary application, from
another portion o! the instrument, not less expli
cit, which authorises cadi House to cslabli.-ili (lie
julos ol its proceedings. Under tins f revision
the two Hogues have lull an I uncontrollable uu ■
tboiily within tho limits of then respective
Walls, and over those subjected to their mitlioriiy,
in their oiiieisl character. To linn extent, they
limy pass joint votes mid resolutions, without
the approval ol the Executive; lint beyond lint,
without it, lin y are power less.
There is nr ibis ease special reasons wby his
approval should not be evaded. Tho I’renident
is til the bead of the Administrative Hepmlm tit
ol the (I iverinneiil, and is especially le-ponsibl ■
lor its good management. In ordoi to hold him
tesponsib e, be ought to have due power in the
selection <>l its agents, and proper coutiol over
their conduct. These banks would be by tar the
most powerful mid influential of all the agents of
the Government, and ought not to be selected
without lbs concurrence of the Executive. It
this substitute should bo adopted, mill tile provi
mm in ipiestion bo regarded such, us 1 consider
it, there can be nn doubt ulisi must bo llie f.ilc
cfllie measure. The Executive will be bound to
protect, by the in orvention of its constitutional
light, the portion of power dually allotted to
that depailiiicnl by that instrument, v\ liicli w on Id
make it impossible lor it to become a law, with
the existing division in the two Houser.
1 have not yet exhausted my constitutional
objections. 1 rise to higher and to blonder, ap
plying diicclly to the very essence ol this substi
tute. f deny your right in make a general depo
sit!) of the public revenue in a bank. More than
half of the errors ol life may be traced to fallacies
originating in un improper use of words; and
among not llio least mischievous is the applica
tion of ibis word to bunk transactions; in a sense
wboHy different from its original meaning. On
ginally n meant a thing placed in trust, or pled
ged to be safely and sacredly kept, till returned
lv> the depositoi, without being used by llio de
pository, while in his possession. All this is
changed when applied t i a deposilo in bunk- In
stead of returning the identical tiling, the bank is
understood to be bound to return only an equal
value; and instead of not having the use, it is
understood to have the right to loan it out on
interest, or to dispose ol it as it pleases, with tho
single condition, that an equal amount be return
ed, when demanded, which experience has taught i
is not always done. To place, then, tho puhlie j
money in deposito, in hank, without restriction,
is to give the free uso of it, and In a low them to
make us much us they can out ol it, between the
time ol deposits and disbursement, Have vvu
such a right l . Thu money belongs in the people,
collected from them for specific purposes,— in
which they have a general mteiest, —and for that
only; and what possible right can wo have to give ■
such use ol it to certain selected corporations ! I
ask for the provision of the Constitution, that uii-
Ihoriies it. 1 ask if wo could grant the uso, for
similar purposes, to private associations or nidi- 1
vidttals! Or it not to them, to individual otlb-ei.s I
of the Government; for instance, to the fonrprin- !
eipal receivers under this hill, should it pass 1
And if this cannot be dune, that the distinction
be pointed out.
If those questions he satisfactorily answered, 1
shall propound others still more dillicull. 1 shall
then ask, if the substitute should become a I nv,
and the twenty-live tanks bo solocled, whether
they would not in fact b> the Treasury! And it
not, I would ask, where would bo the Treasury!
Hut if the Treasury, I would a-rk, if public money
in bank would not bo in the Treasury! And if
so, bow can it be drawn from it to bo lent for tho '
purpose of trade, speculation, or any oilier use
whatever, ag tins! mi express prevision of the
Constitution! Ves, as express as words can
make it. 1 usk the .Secretary to read the t.-l ar
ticle, Olh section, and the clause next to the last,
‘No money shall be drawn from the Treasury,
but in consequence of oppropr aliens modo by
law; and a regular statement ami account of the
receipts and expenditures of nil public money
shall be published from time to lime.'
How clear! How explicit 1 No money to ho
drawn from the Treasury but in consequence of
appropriations made by iaw; —that is, ii, ( . j
on which the expenditure is to be made, to' be
designated by law, and the sum allotted to . Il'et t
it, specified, and yet wo have lived m the da.lv
and habitual violation of ibis gu-al fundamental
provision, from almost tho beginning of nor polit
ical existence to ibis day. Heboid the emi-e
qucne.cs! It lias prostrated and eugulphcd Die
very institutions, which have enj wed tins illicit
la»o.,and Minted, above all other causes, the mo
rals and politics ol ilia whole country. Vcs, In
this must be tuxeed, as one ul the ntatn causes
th« whole system ol excessive revenue, excessive
expenditure, mid excessive su-rpln-ses; and to
(irenr, osjtecnrlly the last, the disastrous over,
throw of the banks axil the currency, and the
unexampled degeuera-y of public and primp (
>nora's, which have followed. We have Millered !
the a!ll etioti, may tho blessing, which follows
chastisement, wh -n injustice is confessed, come
i n ilue sc Ivon
Hut I lake a still higher ground. I strike a!
the nut of the mischief. 1 deny u, c right ol this
" (iuKtOHiem 10’•' ' ’ ' . .now"v in tl.
(rmisn -tifi:.... O . mi. ••u .a «piestio;i. 1
never hate beiore -h, 10-,-.. ■ t not
generally disp eel to a■■ no i f.m » nr
, expressing opinions. In aii id ■ „i. »•. in which
,' a Aatinnnl liinik has cornu in <ju< ition, 1 have
. ■ invariably luketi rny ground, thui tl iho (javerii
,i ment turn the tight to receive and tro.it bank notes
, as money, it hud the right, and was (round tinder
, the Constitution, to regula.u them, so us to make
them uniform and stable us a currency The
, reasons for this opinion ate obvious, and hate
r been so often mid luliy expressed on former on
fusions, that it woultl bo Useless to repeal them
now: hut J never examined lolly the right ol re-
L . tuivitig, or made up rny mind on it, till since the
calasltophe in May lust, which, as 1 have said,
I entirely separated Iho Government lioui ttic
c hanks. Previous to that period, it was an abstract
I question, with no practical bearing; us much so
, as is now the constiluliunal right of adn.iiting
( , irouistutn into the Union. Things an: now ul
(, lered. 'J'hc connexion is dissolved; and it ha-
I become a practical question of the first nugn.-
i tui'o
t The mover of the substitute assumed us a po.
t tuUte, that this Government had a right lore
s ccivo iii its duos, whatever it might think |.ropei
Idi ny the position in tutu. Jt is one, that ought
not to lm assumed, and cannot he proved, and
which is opposed hy powcilul in jections. Too
* genius ol our Constitution is opposed to the aw
' sutoption ol power. Whatever power it pin is
eiprco.ly granted, and if proof were waiiud, the
i nnmtrous grants of powers lar mure obvious and
t apparently mucll in nc »alb to ho assumed thin
Iho one in question, would alfurJ it. 1 shad n o
; a few sinking instances.
; il i.ny powers might he assumed, ton would
I supjio. e, that ol apply mg money to pay the oil) s
, [ of tl;.' Government, anil burrowing it to cany on
'| to opcralioiis would he among them—yet hotii
1 are Otp.'essly provided lor by ihe Constilu ion.
J Again, to th,; gross is granted the power to do-
cl.ne vi,ir and r.li-..’ tirades and navies; yet the
! power In grant letters i,l nlarque and reprisal and
to in.ikej nibs lor the teglila'iull of tbo Army
and . ...'y i. o nut lull to as.-uin, as obvious
I as they are, bill me given by expic-i grant.—
Wall these j . d other instances n I less sin.'non.
! which in.gbt be added, il is a h ild »ii pto usSi.'m! •
willuiut proof, the far les., obvious power ol tile,
Covornuient receiving whaleur U pleases in its
do-s, as money, l?ucii an a>..-u «q n m would he
! in direct e'onlhct with the goal pnneoplo which
I the K)la'o Kqjils parly, with which the .Venalor
| (Mr. JJtvcs) classes hiinsc.l have ever adopted in
1 too t onstniction of Iho Constitution. Jmi, if the
l former cannot ho us.-.uined, it would he in vain
to utlempl to prove lii.il it his been granted, ir
! that it is ncci'bsuiy and proper to cany any ol il e
grant, ;,1 powers into v licet i\o n ull iillenip, he.
I cen made, nor can he, with sticcess. On the
conli.iiy, there are billing ulijeclioiis to the power,
which, in my opinion cannot be surmounted.
I once a Indited, it would lead hy consequen e
to a necessary iuleih.-rmico with individual mid
bilalo concerns never contemplated hy the Con
stitution. J.el ns, for instance, suppose that, act
ing on the assumption ol the fckmator, the (j ,v
-einmcnl should chooso to .'-elect tobacco as an ar
lido to he received in payment of its dues, which
would he ms well entitled to it as unv other pro
duct. an.l in which the Senators constituents me
so much interested, lines he nut see the conse
quences ! In older to make its taxes uniform,,
which il is bound to do by tbo Constitution, and
which cannot to done unless the medium in
which it is pat.l is so, the Government would
! have to assume a general control over iho great
staph) in question, to regulate the weight ol the
hogshead or package; to establish inspections
under its own oliicers in order to delei unite the
quality, and whatever else might he n cessary to
make the puymcirs into the Treasury uniform,
IS i likewise, it the s'tll greater staple, cotton, he
selected. Juu weight ol too baa*, me quality ut
the cotton, and its inspection would all neecssa
itly lull under tile control ol the Government ;
and does not the benutor see that iho cxeicise ol
a power that must lead to such consequences—
■ consequences so (dr beyond thu sphere assigned
to this Covcnitneiit hy iho Constitution, must he
unconstitutional ! J\or does the objection extend
only to these and other staple articles. It applies
with equal, il not grcutei force, to receiving the
notes of State banks, as proposed by the substi
tute, in the dues ol the (Government and the man*
ngement ol its fiscal concerns. Jt must involve
the government in the necessity of controlling
and regulating Slate hanks, ns this substitute |
afHilda dly pioves, us well as the whole hid ry o' i
oar connection vv.t i them ; and it has been shown ;
that hanks are, at least, as lar removed from the t
control ol ibis Government us the cultivators ol
this soil, or any other class of citizens. To ibis
I might add another objection; not less strong, i
that lar the Government to ivccivo and treat bank i
notes us money in its dues, would be in direct
eonllict, in its etliict with the important power
CJidened exptessly on Conptess of e ining mo
ney and regulating iho value thereof; hut as this
i will come in with moru propiiely in answer to
an argument advanced hy thu C, u Uor from Mas
t s.u husells, (Mi. \\ ebster,) 1 i.'null now slate his
l argument and reply to it.
lie asserted again ami again, both now and at
i (bo extia session, that it is the duly of the Gov
, ci iimciil not only lv> legulate, but to lurnisb a
| sound currency, Imleml it is the piiucipal ar
j gunionl relied on by the Collator in opposition to
the bill, which be says abandons this great dulv.
‘.Now, tl by currency he meant gold and silwi
v.iiiis, llieiu will ho but little) dtlieteiteo between
I him and mysell. ’J'o that extent the Govern
j tneul has uelear and ut.questionable tight hy ex
press giant; but it he goes farther, and intends tv)
u srrl that the Government has tlio tight to make
I bank notes a eurroaey, which it is hound to teg
i übile, then bis proposition is identical in el'f.vi,
though dlllctendy expressed, with that i t the
I Senator horn Virginia, (.Mr. Hives,) and all the
arguments, 1 have urged against u are equally
iipphciibio to Ins, 1 hold, on my part, that the
| power ol the C ivemment on this stib.eei is
limited to coining money and regulating its
value, and patiish the counterfeiting ol the cur
tonl coins; and is, el iho coins made current by
■ Jaw, the only money known to iho Constitution.
It is lime to niasc a distinction between money,
i or currency, if you plcaso—hot ween that which
vm 1 legally pay debts, mid more circulation,
i vvltich lias t s value horn its promise to tie paid
in the lorinci; and Under which cla-mlicatioii,
i hank Holes us well as hills or prom hairy notes ol
i individuals tall. J'tiese are all in their nature
, piivate and Heal, and cannot he elevated to the
| level of currency, or money, in iho lise.il tran.-.ic
; lions , 1 the Goverum nl, without comb.g into
| conflict, more or less, w ith the object of the Con
i alitulion in ve-tnig the very power in Congtcss,
j vvhich I shall now proceed loshovv.
It will linrdly be qu.s.toned, that the object
was to tlx a standard in outer to furnish to the
I nian u currency ol unit', rut and steady v alue,
mi l was thei dare united in Iho same sentence’
wih the relative power, to fix Iho standard ol
we,gots uml measures,-the objects being 5i.,.,.
u "- - N ’"’ 11 vmr cxpeiioncc l«s proved unv
thing, n has amply show,, that so Img uje
Government is connected with the Junks, ami
> oil liotis-ieevivcdii, it. t unsacOyns asjmaacy,
- vnrp.t IS intposssihle to give any u.g bke
5.,.b lily Jo the j <ttii:ut Ol value; und that the
I' , c ‘ “*“•«. a ,*ld leg illation tile coins, t:c
come:. in .. great muusurv a inetoutiilily ■ JAciy
; 1,1 d des, vv ben it iVuiavlc U,c '
I su dilute lor _money, drive* out of em ulation i
I '>-■ or ol ihe precious im-tuL-; and when
tlict-iac becomes e.xoib.taiit, gold and ailv.i
aunost cnti .ly d...ip Ic.„s 1 c.„s as om cxpt.icnco at
tins lime proves. Tbo .fiicls me analogous i
..I'o-'o,, v: tb: pvt; i|,c c.i.i, us faras . t.ibiia-. ,
v . sf.mliid isc vnr»rt!cd naJ it would be not lee’s :
i l-lioiml lo Mippo , that *ucl. i power on the
1 (mil of individuals, would bo consistent with a
t uniform and staple currency, than to suppose
r tin- receiving hud treating hank notes as a sub
i dilute for money hy the Government, would be.
i- The only check or remedy is to restict them to
their proper sphere, to eiieulale in common with
s bills of exchange or other piivale and local pa
i per, fur the convenience of business and the
; trade, ho 1 r Iron Mich u course operating
• | i;jo i e.i- ,y on Iho people, or from being liable lo
ii.j charge ul homing one currency for the people
& tmoiier for 'ho Government, a* has been so
i ultin, At with such t Ilf t repealed, it is the very
■ roven-u Government hy refusing lo received
■ hank notes, as it is hound to do would in fact
, funtish a choice to the people to lake cither
J money or notes at their pleasure. The demand
t el the ■Government will alwiys keep a plentiful
> supply of the tfcnncr in the country, soar to
j idlord the people a choice, while the opposite
would expel money and leave no option to them
but to take hank notes or worse, as at persent.
-1 have now shown how it is proposed lo form
the h- igue of hanks, and have presented lire
eoiirdituiloral impediments that stand in the
way. Those are numerous and slrong; so much
r so, that they ought to he irresistible with all,
. except the lalitudioiius in construction; lur 1
1 caimol expict they vv lit proJur e their lull diced.
0 1 Know 100 well the face of long entertained
■ in.pre'Moiis, however erroneous, to he sanguine
how strongly the mind rebels against tire ex
pel: .o.i ol the old and the udmisriun of now op
-1 ..nons. Vet, ill this esse where we c,burly sec
ho v giuiliudly and silently error crept in under
i dr. ,;iiiso ol words, applied to now and totally
different ideas, without exciting notice or alarm;
‘ nd when vve have experienced such deep disas
f lers in consequence ot parting from the plain
• intent and meaning of the Uonstitutiutnm. I
i cannot but hope that all who helitve that the
. success oflho Government depends on a rigid
- udiicrcnco to the (.’onslitutioii, will lay a.-ide all
• previous impressions, taken without rcflecdoo,
1 and give to the objections their duo weight
, 1 come now to tlm no t point, to show how
• Ills league is to he revived or stimulated into
life. Till this eon ho done, tho substitute,should
it become a law, would boa dead letter. The
• . election is lo be made from specie paying banks.
, I iVrmo but such tan receive the public deposit is,
i oi Jei'f* loeir notes received in the dues ol the
Govurn.'in ifh There arc none such now. The
i whole huttiJmt system lies inanimate: and must
ho vivified l-cto.e ,* tan he leuni ed with the
i Government. .Vo tmn is hold enough to pro
pose an union with this n.'Hcrs mass ilow
then is the vital spark lo he ier,:‘*vcd! how tiro
breath of life, the Promethean the, to hit breathed
; into tho system anow is the question? is
the la k.
Tho mo-cr tells us, that it must bn tho work
ol tiu Irov, niment. lie says that it is hound,
to aid the hanks to resume payments; and for
that purpo-o ought to hold out lo them some
ntleymity inducement. Ho tells us, that they
have been long pupating and had made great
t llui ls, but cun go no limber; have rolled the
round, huge reek almost to the summit, hut
unless the Wovemment put forth its giant arm,
and give the last push, a will recoil and rush
down the stoop lo the bottom, and all pa-t la
bor he lost. Now, what is this adequate in
ducement? What this powerful stimulous,
which it is proposed the Government should
apply, in older to enable the hanks to accom
plish this herculean task! Tho .substitute shall
answer.
It proposes lo fix tiro Ist of July next for the
period ol resumption; and us the inducement lo
resume, it proposes to select twenty live of tho
most respectable and solid, out of the resuming
hanks to ho Iho depositories of the public mo
aeys, and the fiscal ag-vnt ol the Guv’eniincm, as
has been already staled. It also proposes, and
this is tho stimulus, the essence ol tho whole,
to make the noies ol such hanks us may resume
on nr hclo.e l h it day, exclusively rocciveahle ra
l.e- public dm s. Hero is a t/md/n u i’uo\ some
thing proposed to he done, lor which something
is io iie given. U o lull the. h inks plainly, if you
res mm, we, on our pail, stipulate to make twen
ty live ol you our liscal agents and depositories
ol the revenue; and wo further stipulate that those
who resume by the lime lived, shall have the
exclusive piivilcgo for ever of having their notes
receivable in the dues of the Government, in
common with gold and silver. If the hanks
perform their ( art, vve shall ho bound in honor
and good Ini I h lo perform ours. Jt would ho
it complete contract, as obligatory us if signed,
scaled, mid delivered. Such is the induce
ment.
The next question is, will it he adequate?
Vcs, abundantly adequate. The battery is sn'png
enough to awaken the dead lo lit-; the considera
tion suiUcienl to remunerate the banks for what
ever saci dice tin y may be compelled to make, in
eider lo resume payment. It is dillicult to esti
mate the value ol these high privileges, or prero
gatives, ns 1 might justly call them. They are
worth millions, li you wore to enlet into a
similar contract with an individual, 1 doubt not,
'hat he could sell out in open market for at least
■ hniy, loity, or bhy millions ot dollars, Jdo
then the mover thejuslicc la say, that his means
are ample to ellect what he proposes. As dtlli
eult as is tho work ol resumption,—and dillicult
it will turn out to he when tried,—the induce
ment will prove all sulllcicnj. Hut the resump
tion. however desirable, may be purchased 100
dearly; and such Would prove to he tho ease,
should the project smeeed. Not only is the of'
ler 100 great, but the mode of cheating n is high
ly objectionable, lls operation would prove not
loss disastrous than the bargain has been shown
to ho unconstitutional, which I shall now pros
v i’til to eMablinli
Tho oiler will have a double died. U will
.a t as a powerlul stimulus to resumption, hut
will act at the same lime with equal lotco to ex
cite a struggle among the hanks, not only lo re
sume themselves, but to prevent others from
resuming. Thu riason is dear. Tiro ndvan
(ago to each vvrd increase, us the number of
the resuming hanks decreases' und of course,
the great point ol contest among the strong will
ho to tcsliict the proffered ptize to the smallest
number, ihe closer the monopoly the greater
the profits. In this snuggle, a cqmbi. alion of
a lew powerful and wealthy hanks, tho most ie
spectahlo and solid, as designated in the substi
tute, will overthrow and trample down the rcsi
-iUi . 1 heir lull wih spread desolation over the
hind. \\ hatever may he the fate ol others in this
dispcra.e contest, there is one, in lelition la
w ine., no dentil ean he enterlalned: 1 refer lo iho
United itnates hank ol I’enusylvauia, a long
name and a misnomer; and which, lor the sake
ot brevity, hut with no personal disicspeet lo the
I distinguished individual at the herd, 1 shall call
Mr. litddic's hank. Thai, at least, will he one
d th.- winners—one ol the twenty live to whom
the prize will boa .signed. Its vast resources,
ns vvdilih und inllueulial connexions, both at i
home and abroad, the skill and ability of the of- |
Ikci at Us head, and, what is loss honorable, the
yurat i rsuurct it holds, in the notes ol the Uni
ted States hank of whieh more than six mil ions
1 "\ ve l 1:11,1 circulation, in violation, lo
f.iy the east o! a trust, constituting more than
live sixths of all its circulation, and which it is
“ 01 , b *’ u , r “ "M' h'i-with the still greater amount
on hand, makii g in the whole more than twenty
rx n:tllrons, and which may be used (he same
way j mrt prevented, would place it beyond ah 1
dm:!,, among the victor*. He starts wnhout I
proper weights, and wi.l had the way from the 1
Inst. Mho the other* may be is ui.u-i iam; this i
wml depend mainly upon his good wi.l and
p.easme. It may !.,■ pat down t . ; v i, u
o', r Urey in.",- l.e, tint they w ill he pmu-.lhl'and i
luuucnl...!, ana n. t unftrvorablc u- his iu'.ctcs'.sj
>, or .ggiundizemciil. Hut iliu miichcvious flk'tl
i I will noi be limited lo this death like struggle,
» I in which so many muni fall and he crushed, that
- I might otherwise weather the storm. Ihe lorced
. | resumption, lor such it will he in effect, would be
> I followed liy wide spread desolation. It is easy
i I to sink lo suspension, but hard to return lo re
- I sumption. Under the most lavoruhle circum
i; ' stances, and when conducted must leisurely, the
, pressure must be severe; hut, il coerce 1 or preci- j
i , piloted Iry bankrupt laws or temptations such as
j this, it will lie ruinous. To make it safe and
a easy must be the work of time, Government can
f do tint little. The disease originates in cxccs
] sive indiditness, ami tire only remedy is payment
t or reduction of debts. It is estimated, that when
r the banks suspended 'payments, the community
J was indebted to them the enormous sum ot
I 5475.000,000. To reduce fills within the pro
j per limits, is not the work of a few days, and
■ can be but little aided by us. The industry and
i the vast resources of the country, with lime, are
the only remedies lo be relied on for the rcduc
i lion; and to these, with the State Legislatures,
i and the public opinion, the resumption must be
s ieli. To understand (lie subject fully, wc must
i look a little mote into the real cause of the dilii
, cully.
I To he continued.
.■"r- ■ ”..r ~ ~ —,■ ...yvy.nßm, I —,
j lIV HXI'UHNS if!AIL.
Fitu>| of II COBBKSFOSUFHT.J
. ; WASHINGTON, March l9:h, 1838.
a In (he Senate, a report was read from Iho Sec
1 rotary ol tho Treasury, relative lo the progress
of publication of the documentary history ol the
revolution.
i Alsu a report from the Post Master General,
communicating' correspondence between that
I Department and the Hunk of the Metropolis. —
1 Ordered to hu printed.
Mr WKIGIIT presented a petition of citizens
of Urooklyn, New Yoik, in favor of the Sub
, Treasury Scheme : laid on the table,
| Also, sundry petitions from citizens ol various
■! towns in Now York, on tho subject of Abolition
' and Texas.
Mr HUGH AN AN presented a petition of the
.• citizens of Pliiladelphia, for an appropriation for
1 tho erection of firo proof buildings for Govcrri
imnt purposes in that city : refened.
Also, from the same, a memorial in favor of
i> the international copy right law : referred,
i Mr SMITH presented a resolution ol the
* Legislature of Indiana, on tho subject ol a
National Foundry.
jViV WALL presented a petition of a number
of numbers of the New Jersey Legislature,
: against the suh Tteasn-y scheme; which was
ordered lo he printed.
Mr MOLLIS presented sundry petitions of-
L the citizens ol Ohio on tho subjects of Abolition
. | and Texas.
1 j Mi UUGGJ.ES presented a petition of a large
number of the citizens ol Maine, in jaVof ol a
National Hank : laid on the table.
I Mr MOUItIS introduced a resolution, that the
Committee on the Judiciary inquire whether the
existing laws prevent tho traffic in slaves between
liio United Slates and Texas, &c. ; laid on tho
table.
Tho Hill changing tho time of holding the U
S Courts in the Uih circuit, was repotted by the
Committee with an amendment. A discussion
iheieon ensuing, on motion, the bill was laid on
tho table, and the Sub Treasury Scheme tukm
up in the orders of the day.
Mr HUN TON having the door, continued
speaking in favor of the Lull till the usual hour of
adjournment, when the Senate adjourned,
J • • I
in tho House of iiepresentaUvcs, on motion cl
Air DVJS, of Maine, il was resolved that the '
Speaker of tho House iutoini the Governor of
the Stau of Maine, of the vacancy existing in
iho ropicociituliou ol that Stulu, occasioned by ilie
dram of the Hun. T J Carter.
Mr CUSHMAN offend a resolution calling
upon the President for inloimatron as to the inter- |
meddling of an foreign nation with the savage j
tubes of Wisconsin or beyond the Kooky Moun
tains; and il was agreed 10.
Mi UEUD die red a resolution instructing lire
Committee On fire Tost Ollrcc and Post Loads
to enquire into the expedience of establish- j
nig a mail lo the Pacific, across the Lthuiua el
Panama : agreed to,
Mr ADAMS olfeted a resolution for the prepa- j
lion of a statement of all the memorials, petitions, !
eVc., presented at tins session, and laid on the
table under the Patton resolution of last Decem
ber.
Mr CUSHMAN objected, and the resolution
lies over under the rule.
Mr SN \ HE If, e>l Illinois, offered lire following
resolution, which was agreed 10.
Jteiohed, That the commute on Public hands
be instructed lo enquile into the expedience of
i opening a bill grunting to each soldier who'
served m any of tlio eampuings against tbc In
dians in tho North West Territory, between the
years 1781 and 1790, a tract of land not less
than J'JO acres eaeli lo be located on any survey
ed lands of tbe General Government uotoihei
wise disposed ot.
Mr P LATT offered -be following resolution, I
which was agreed 10.
Itcsolved, That the Committee on tbc Post j
Ullieo and Post Loads be instructed lo inquire
into theexpedieucy of so lesseniag.'llie rate ol pos
tage on letters lo make the income about equal
lo the cost of transporting the mail, and report by
bill or otherwise.
Mr Puttui moved to suspend the rules, for thu !
purpose of taking up liio resolution alibied by !
him on toe Bth July, on the sulyect ol renioviij- r {
from oliite by the Executive patronage.
Mr 1 allon asked the yeas and nays on the
resolution, and stand that his object m taking
'bem up, was, to make them the special order for
a certain day.
Mr BOON, asked how far the inquiry would
go back,
air PA 1 I O', copied, lo the origin of the
Government.
The question being taken, there were yeas iO;
nays Cl. There not lung two thirds, the motion ■
vvas lost.
J lie House was ihcn culled, by States, for
petitions, a great number of which were presen.
| ted.
Vhe House then adjourn, d.
/’n-ia the .V. V. Courier Knquirc
FnoM Tin. PnoNTi i;n. — Wc received on Sal- *
unlay, tho Hriiish olhcial account of their attack, j
on the horde which invaded Point Pello Lladn •
but had not room the place it in our columns.
It appears Ural Colonel Maitland, the British olli- |
ter commanding on the Canada shore, alter as
certaining that the ice was sufficiently strong, i
passed over it, a detachment of regular troops and
| militia, two companies of which he ordered to the
south side of the Island to intercept the retreat ol
the invaders to tire American shore, whilst ho
himself landed on the north side and drove them
| before him, Finding themselves hemmed in,
they attempted to escape oil the south side, and
1 here encountered the two companies posted there,
j An engagement ensued, in which the invaders
were routed and a Col. Uradley.a Major Handley
! and Captains Van Renssllaer and McKepn, and ;
I seven others, dead on the field, several besides
taken prisoners, many of whom were severely
wounded, 'l ire Util ish loss'is staled lo he two '
killed and twenty-eight severely wounded.
A subsequent despatch from Colonel Maitland
! announces the capture of the renowned General
Sutherland and n young man of the name of
Spence, whom they say is his aid deearnp. He
was sent under eseort to Toronto. As some ol
our readers may like to know who this Wulher- |
land really is,we slate lor their information, that
[ if they can recollect a Sergeant of.'Marines who a
• few years since was daily seen in our publication
0 Uice, where he called for papers laken by of
ficers stationed at Governor’s Island and the
Navy Yard, they may place before them the in
dividual in question. He was a Sergeant of
Marines, and deserted, taking with him a sum of
money belonging lo in the corps.
miONICUS AND SENTINEL,. |
AU&j’STA. : 1
tiiiluiilny iVt«. i uing, Mkkli 21,
The communication of-Burke” and tho pro
ceedings of tho imeeling in Ilurke courtly , ap
pointing Delegates to thu merchant.-,’ convention
arc received, hut unavoidably postponed, until
Monday.
Curiosities of Literature.”
Wo have seen the original ol the following
advertisement, in the hands of a gentleman tra
velling Iron! tho West, where he obtained li, Mr ;
Swann must have been a “je'sti S of thu peace.’ j
Notus on thu 7 of October 1837 thur will
bee oferd for sal a firs rut yok of oxen and sum i
fathers and sum wool and a stock of cattla and
housel & cilchin fuurnity the lurnis will bee no
ing ond thu day of sal
Janies L swan
The Currency!
The blessings of a good currency ,ve have
■ once enjoyed ; the curse of a had one is now vis
ited upon us. Upon whose head rests the sin of
depriving us of tho former and inflicting upon us
■ the latter, posterity, if not the present genetalioii j
will determine with truth and justice. The lien- [
ilns of a sound and uniform currency arc too 1
well understood to require a demonstration at |
this time, and the evils of a depreciated one are 1
too well known from daily experience to render j
an exposition of them necessary. The school
of experience leaches many useful lessons, but
the sad experience of a whole people, in this in
stance, has no effect upon their lulcrs, who feci,
ing nothing of tho cursoofa bad currency because
they pass edicts lo [ray themselves in gold and
silver, care nothing for the sufferings of the peo
ple. The office holder who leceivos his salary
1 i r-pecie, which ho can dispose of at a premium,
feeli none of the evils of a depreciated and fluclu
u ing paper eunoucy. It is not surprising that
1 lie should go for the Sub Treasury bill, which
proposes lo fill his pockets with gold as long as
j he holds his office ; hut it is astonishing that the
people who reap the hitler fruits, while the office |
| holder feeds upon the sweets, of a disordered !
j currency, should go for a measure which makes
I permanent a state of things which inures as a
blessing to their rulers, while to themselves it is
an affliction and a curse. Let us look about us
a little and see the actual condilion-of things,
j Exchange on the north is now at seven per ct.
; picmium—on Charleston at four to five, and at I
a small premium on Savannah. The hills of
Alabama hanks are fifteen to twenty per cent,
di count, and Mississippi money is scarcely worth
house room. A merchant, residing in Alabama,
passed through this place a few days ago, on his
way to New Ycrk to buy goods ; prior to leaving j
; home ho exchanged his Alabama money for hills
I of the Western Bank °I t>eorgia, giving five per
; cent premium for them ; these he brought to !
I tins place and sold at a discount of ten per coni, t
for the hills of other hanks ; with these he pur- 1
chased a check on New York at seven nor cent
I premium, making a total loss of twenty two per
cent, or nearly one fourth of Iris money lo enable i
him_lo get to New York from Alabama. Well
; may he exclaim, Oh! the glories of Jackson’s and -
Van Burcn’s administration!
Wo stale these tacts for the benefit of the pco -1
pie—the planters in particular, who are most
deeply interested in this matter. When tho met- 1
chart! lias to pay a high premium for exchange, '
it is necessary for him, in order to save himself, |
to add to tho pifoc of his goods, and the planter
who buys the goods, thus in the end, pays for the
I benefits ofa deranged and ruined currency. For
I this let him thank those learned doctors, Jackson
| and b an Buron.
Forger}.
j ihoN. V. Herald of the I9lh inst. says;
; “Me learn that a young man was arrested
yesterday in Philadelphia on the charge of pass
ling off in Wall street a forged hill of credit for
| 7 30,000 to the amount of ? 15,000, on a hank of
.Augusta. A broker in Wail street negotiated
j $OOOO on the credit. All the money, except j
$2OO, has been recovered.
New riuinpsiiiro ialeetion.
The Boston Allas gives icturns from 162
towns, out of 231 in the State. The result is,
For Isaac Hill (V. 11.) 21,877
Wilson (W.) 21,043
V. B. majoiity thus far, 2.?4
; Jackson maj. in same towns in 1832, 3910
Whig gain, 3712
It is said the \V higs will have a majority in
the House of Representatives. Senate doubtlul,
y-r-rm-tg:i.B3wwt
31AKUIUO
At Rock Bridge, Gwinnett co. on Thursday
evening lost, by James Diamond, esq. Capt. Tho
mas Maociiu,, to Miss Elk'.aiieth Amu-usox,
all of the • amo place.
Li Richmond county, on Sunday, 18th March, i
by James 1.. Gasilin, esq. Mr. Jo:ix Ginns, jun.
to Miss Nanci Sent sos, all of said county. ‘
11 AUX-N i: I.VI’H > I jin; F.\C I’." T
,S \ \ AN N A JI, iN larch -*2.—l Sloop C;u’olil*
Burkur, < harleston. w
Arr. sclir Eiizu Jane, Haskell,
Went to sea, sc hr Casket, AK- r< u q
CIIAIU.KSI-ON. Marti. -A« y.nurJay. JL
Currency, Gilmore, Havana. J j
Cliarcd, brig Financier, Adam}, w j ml; Sl . lu . s <aj
ly. Miller, Kohler, Philiidel)>l;>»> Ki j >UI „ s , T*.
pisiiue; steamer kibertj, I’liilhritli Aupistaaul
Went to sea, ship Mar ,-;t Petrrilnik
Ur Her is, Klrvell, Havre; (J I, brig C M'deliu, SUvrrrul
i\ Y; selir Polly, Miclmls, Wilmington. W *
nm i i !v as musJPMCMinwr- *»* nut* I
“Augusta Benevolent Society T
Committees appointed for tire prmem munlb. I
1 Committee Division No. I—Messrs. John \f
Knight, Wm 11 Wood, Mrs. Francos Alerediih,AfiAt
Elizabeth Marshall.
I Committee Division No. 2—Messrs. Thaddeus I
j .Vloy, Sylvanus JJ Groves, Mrs. John Winter, MrL
C C Talliafvrru.
Committee Division No. 3.—Messrs. John Heescn
L B llait, Mis Mary Glover, Mrs. Amy Whillocl#
All eases ol' sic kness and distress please -cporl l|.
them. M. M. BROWN, Sec’y pro tern. »
The Constitutionalist will please copy theabovon
march 10 1m
JKT During Dr ROBERTSON’S short a •.oncil
from the ci;y, Dr Cunningham will an u . ) hi 4.
professional engagements; and Mr W K iv.. lion to
any other business which ho may be concerned,
march 21 4 . ,
l q 3" We arc authorised to say that Wm. W, .
HOLT will not be a candidate at the approach-. \
mg election for member of Council,
IR/’ Di. UUoERTaUN declines being a can
didate for a seal in ihc next Council.
I’itnso announce the Inlh.wirg, ticket lor
Members of Council for ward No. 3.
T. RICHARDS,
A. G. HUN,
W. G. NIMMO.
Mu'. Joses—Please announce the following
gentlemen as candidates for Council in Waul
No. 4.
A. J. MILLER,
L. P. DUGAS,
C. B. HITT.
Mu- Joses—Please announce the following
. gentlemen as candidates for members of Council
for Ward No. 2, at the approaching election :
B. H. WARRI3N n .
ROBERT BARBER,
S. M. THUMP.-UN.
I CC/’Mr Editor—Please insert the following
ticket lor Aldermen, lor the 2d Ward, and oblige
Mist Voters.
B H WARREN,A
A CUM MING, > Aldermen. .
JOHN BONES. 3 r 4
; Mr. Jones: Please insert the following tie kit
i for Mayor and Alderman for the 4lb Ward, and
oblige Mini Votus.
Fon Mavou.
, SAMUEL HALE.
Ton Mr.Manns of Council.
C. B, HITT,
L. P. DUGAS,
JOHN HILL.
Mu. Jokes—Please announce the following
gentlemen as candidate for Mayor an 1 members
of Council—members to represent Ward No. 3,
| and oblige Manx Voters.
FOR Tit VTO It,
SAMUEL HALE,
run memuf.ks ok council,
W. W HOLT,
THOMAS RICHARDS,
ISAAC MOISE.
Cj* Mr Jones, will please announce the follow,
ing gentleman its candidates for members of
j Council for Ward No 4, at tho ensuing election,
WM P DEARMOND,
CHAS. B. HITT,'
JOHN hill;
, CCj- The following gentlemen will be sup
! ported fur members of Council (or Ward No, 3,
by Ma NX VoTKIIS,
B. B. KIRTLAND,
F. H. COOK,
A. G. BULL.
Please announce the following gentlemen as
Candidates for Ward No. 3, at the approaching
Election in April next.
B. W. FORCE,
THOMAS RICHARDS,
B. B. KIRTLAND.
0 S The following gentlemen will serve as
members of Council in Ward No. i, if elected'
on the first Monday in April next:
PHILIP CRUMP,
R. F. BUSH,
MITCHELL NELSON.
Mr. Jones, wbshould be gratified to be ropre
sented in (.ottncil by the following gentlemen, viz:
A. HUMMING,
MARTIN M. DYE,
JOHN BONES,
and hope they will suffer their names to be an*' -
I nouneed as candidates allhc approaching election.
Manx Vomits ok 2n VVaiid. /
j Mr. Jones—Please announce the following
! gentlemen as candidates for Council in the first
i Ward at the approaching election in April.
GAREY F. PARISH,
1 PHILIP CRUMP,
I : WILLIAM E. JACKSON.
A UGUSTA AU’nuUKRV GUARDS,
•“ *- Appear on your Parade Ground in front of ihe
I aneasterinn Institution this afternoon, at 3 o’clock,
■ without uniform , prepared for Infantry Drill.
By order of Captain Gould,
| STOVALL, Acting O. S.
March 24. 4t
New Caoodsi,
1V E S & GUUSWO L I) .
A n°"’ opening a general assortment! if Slnplj
and Fancy Dry Goods,
; which were purchased unusually low; they will be
. soil at prices very much reduced. Their assort
ment is calculated to please customers purchasing
lor cash, at wholesale or retail. The public gen
erally arc respectfully invited to call. Their stock
consists of the following articles viz:
3-4 4-4 shirting and sheeting, brown end while;
3-1 4 4 licking, superior and common check ami
stripes; blue plains;.linen summer stuffs; brown and
bleached drills; Marsaillos vestings; Jean do; low
Princl prints; blue and while Merrimack do; sup'r
! fluey do; French prints, neat patterns, small figure;
mourning and half mourning Calicoes; fancy and
mourning French muslins; satin stripe challys. A
very rich assortment ol Silks, consisting of plain
and f.g’d black; Could de sole; black sat.u; French,
English and India; ced’d do; rich lignered; rich
satins arid light dol’d silks for evening dresses; plain
while satin; lig’d do of superior quality; bonnet silk
fir milliners; licit black and fancy col’d Shawls;
Russia lablo diaper; birds eye do; an extensive as-
Konment of Irish linens; linen cambric of supeiior
quality; linen camb-ic liltdk’l; black, white, and
col’d silk Hosiery; English and French cotton do;
misses collet: do; ladies and gouts superior French
| gloves; silk do; Persian thread marshals’ do; black;
I crape and lacecol’ddo; bishop lawn; book mits/iii;
: Swiss, medium, check’d and strip'd do; foundation
do; French and Scotch Embroidered Capes, and 1
t'ollars, Garniture, Taffeta apd Satin Ribbons,
Hand boxes by the nest, a desirable stock of Milli
ners’ goods, goods for house servants of every des
cription, plantation do. together with every other
aniele necessary in complete a general assormeiit.
Country Merchants desirous of purchasing lor
cash or approved credit will fin I it greatly to llticr
interest to rail.
Store directly under the Globe Hotel.
March. 12 b7d3w
m UUU HHOUJS O SNA BURGS AND
YARNS.—The undersigned being appointed
Agents lor the sale ol the above goods, will keep
constantly on band a full supply, which they will
dispose ofon lho most ren,enable terms.
nn 22 ilA.w2nt r. A. ORELVER & CO
I'iIOTKC CION INKUIi AIVCE COMPAW,
' 1 11 IE undersigned, agents of the Protection lit
ft- suranco Company of Hartford, Connecticut,
arc prepared to insure buildings and their contents
against loss or damage by fire on the most reasona
ble terms. W. <fe J. G. GATLIN,
oct 31 dlf 205