Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-03-01

|ing snediam had scarcely been de
bounced by a single paper within th'
United States. The derangemeD
Iof 4 circulating mediums. he said
Twas a Joint threwD out Of its socket
|Iet it remain for a short time 10 thai
Estate, and the sinews will be so kui
THAT it cannot be replaced apply the
Ircmedy soon, and il is an operation
easy though painful. The evil
EgrO&s, whilst the resistance to it be-
comes weak and unles. checked al
once, will become irresistible. Mr.
e. concluded the speech Of which the
above is a mere outline, which The
imagination Of the reader must fill
|up, by observing. that hecould have
|snid much more on this important
,uhject, but he knew how di!iiaplt il
was TO gain the attention of the house
ito long addresses.
MIR. Randolph. in explaining an
|alIusion which Elr. Calhoun had
made to a remark OF his on a former
|occasipn, took occasion to say, that
|he had listened to the honorable
scD!leman, With pleasure; he was
glad to see a canse so important In
|llaads so able. lie promised the
honorable gentleman though he
might not agree in his mode OF re
,nedyipg tie evil, ne would so with
|him in The application OF any asle-
Iguate remedy to an evil which he
regarded as most enormous, &c.
Mr.. Ward, of Mass made some
remarks not very distinctly heard
ny the reparter lie acknowledged
the correctness ofshe representation
Iof the existisg evil, for which be
appeared to think the remedy was
|near at hand aud more simple in IFS
Explanation than the establishment
lof q National Bank, viz by retus-
ing to receive the notes Of those
haa!ls which do not pay specie, in
|,lncs TO the government. But Toe an
alliance, which he considered dis
graceful to thaAcountry and unjust
ito Individuals, between the seercta
Try CT the treasury and the banks
which refused to pay specie, tue G.
IyiI never would have existed. III
Congress adopted the measure which
lie (Mr. w proposed. those banks
must go down, aad public credit
rise. Why not resori at first to the
obvious expedient, and then proceed
TO the consideration OF tbs less ur-
|Sent question of establishing Ma
Itional Bank? The banks, who it
was now agreed had engaged in a bu-
stress for which they were not cal
IculateA, having receiyeda sufficient
bonus for the loans they made tC
government, and made handsome
profits BY it, had no claim on go
|yernment to protect them in their
refusal TO pay specie, &c. Mr.. W.
rose not to propose any amendment
10 he bill, but to express his entire
coincidence in the gentleman's OPT
aien that great evil exists, which
coagres had the power to remedy; &
1T the remedy were not Immediately
applied. on them would be the re-
spoBeibility and the blame.
Mr.. Sergeant. moved TO amend the
first section OF the bill by striking
out the words !" thirty .tpc" and
inserting t1oenty as the amount Of
the capital of the Oank. He did
not intend, he said, 80 go into sc
neral consideration Of the principle
of the bill, or Of the motion now
submitted by him. He made the mo-
uon on the grcGad Of the facts and
arsunests just delivered by the
geatieman fran Sauth Carolina Mr..
Calhoun. From the quantity ofpap
er stated to be in circulation, he
thought tie calculation fairthat the
amount proposed TO be added to the
existing bank capital was larger
fihan necessary, and entered into
some calculations, not distinctly
beard, TO support the propristy OF
his motion.