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

- that TIE pEUscn1 s"sus9S
I'D ever cure ITSELF Mr.. G. said
',.t believe what is impossible ;
s AN must change their nature lay
.s;.le their instinct, before they will
a n doing what it is net their in
j, do. By this process ofrea-
.o,.;ar. be came to the conclusion.
. 49,. il d rested with CoBgvessfo make
,hem return to specie pay ments, by.
msk;ng il their interest to do so.l
ghis introduced the subject of theI
National Bank,
! national bank, he said, paying
.aee;e itself, would have tendency
70 uske specie payMeOts general, as
well bv IFS influence as by its exam
ME. twill be the interest of tho
ssiiooal bank to produce this state
or things, because otherwise It's
ooeratisDs will be greatly circUm
scribed, rs il must pay out specie
az nationsl baBk notes: for he pre-
sumed one of The first rules of suel,
absbk would he totake the notes oil
no bank which did net pay in gold &
silver. Anational bank ef S. MI,
l;oas. With the aid of those haaks
which are az oaee ready 70 pay spe-
eie, would produce q powerful effect
All over the union. Further a ma
tionaI Bank would enable the govern
mcps 10 fesort. 10 measures which
wOuld make il unproiitabIc 10 banks
10 continue tie yioiatioa Of their
contracts, and advantageous TO re
turn to the observation OF them.
The leading measure oftbis chaFac
Ter suld be TO strip the banks re-
iasiag to pay specie of all the pro
Cts arising ffcia the hHsines OF the,
government, to prohibit deposits
With them, and to vefuse to receive
their notes ia payment OF dues to the
ecsernment. How Gar such mea
smes would be efiicaeious in pro
ducias a return 10 specie payments
he was unable 70 say-but it W. tasI
far as he would be willing 10 go at
the present session. 1t they persist
ed in refusing TO resume payments
10 specie, Congress must resort to,
Measures CT deeper tone, which
they bad in their power.
fhe restoration OF specie pay.
ments. Mr. &. agreed, would re
move ihe em5arrsssmants on the IN
dustry Of the country, AND the status
from iispuhiic aud private faith. II
smsined to see whether this House,
without whose aid il was in vain to
expect success in this object. woHid
have the Gortitude 10 apply the re-
NEEDY. II this was got the proper
naeily. he hoped it woald De shown
By the proposi;ioG ola proper snbst;-
tute. and not opposed by vague and
general defamation against banks.
Tie disease. he said, WAS deep itI
siscted public opi1ion--& whatever
affects pubIic 0piaiOn touches the vi
tails ofihe government. Hereafter,
hsmid, CaBgress Sould never stand
hthe same relation 10 this measured
IN Shiohiaey now did. The disease
GsN in zine of war the war had
'ubsided, but left the disease, which
twas now in the power of Congress
to eEatiieate-bat, If they did not
aow exercise the power, they would
become abettafs Of . state OF thugs
which Vas of vital consequence to-
public neralits, as he Showed by va
riOus i.laatgatia1s lie called upon
the house, as guardians of the public
veal, Of the health Of the body po-
Isie which depended OH the public
Bera!S, II iateepsse against state
Of;hings abi65 was Inconsistent with
either BE appealed TO the House
tss as the guarGiaas Of pablo and
private faith, Ia what manner. Ge
asked. were the public contracts
fuiGlled Z In GOLD and silver, in
which tie go.ernment had siipulat-
ed topay? No; in paper issued by
these Institutions 10 paper greatly
appreciated 10 paper deprecated
icom to 20 per cent. below The cur.
FeOcyiH which the government bad
contracted to pay, Re. lie added
another arganett--'heinequalIfy OF