Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1829-03-06
Speech q ,ir >. c. CGBELL Il, Ike ssa4,e, on tie
mellon 10 grodnG'e Ire depreciation IN Conrcn-
ton, Jy Staatpii,d pS.ai,fs
(coNCLUpEn.l

lion, Jy Staoto,4,d nis.sTfs,
lCoNCLUDEp.l
Mr. G. said, he thought it unfair anu inadmssiblc
III argument toquote precedent in lcgisation and to
dlvcst it of all the concomitant circumstances cuicu-
lated 10 impair It's force and show its want of appli-
cation. lie was member of the Senate, and bore
s part IN the important which agitated the
Legislature ut the memorable session Of l3l6-i7-
NO powerful parties pressed with united action at
the same moment upon the General Assembly. The
advocates OF convention demanded equal representa-
ton M both Houses Of Assembly; the advocates Of
new banks, demanded eight millions traditional cap
Ital, with tic privileged power to circulate 81 millions
OF paper, through the nstruncntaitv of numerous
separate, and independent coantry banks. The bill
Tor limited convention and the mammoth bank bill
CAME mp and lay together on the table ofthe Senate.
me meeting nt Winchester in tie spring, had been
followed by the convention at Stanton i'll the sum
or; aud an extraordinary excitement and agitation
disturbed thepublic mind Party stood arrayed against
party ana shook the government to It's very ounda-
tons. y great proportion Of the community, ililn-
cnccd by honest conviction, stood opposed to Il
convention i'll any shape, whether limited or ulsacl-
!cd Some had fears for freehold su.tiagC; some for
toe existence OF Tie senate; for the indepen-
| dencc OF the Judiciary. Ayc.sc 10 sacrifice the
substance of.lb2rty the forms of t.e constitution
powerful party sought 10 retain the government
npon its ancient basis The established Banks had
OUT recently resumed specie payments, and the
currency was emerging from state Of alarInin,
! depreciation A,d embarrassing exchanges, ana
returning once more TO sound and healthfiIl state
The Legislature justly regarding the discountine
operations OF banking institutions as minor interest
10 the relation which they bore to the circulating
medium, had set its t;ce against the svstco, OF
independent country Banks, AMI Sought TO Mace the
currency On the more stable foundation OF large
! capitals IN mother Banks and ectcd branches
reaching over extensive tracts of commercial country
thcn, as now, the country made 10 resouud with
| Inc charges OF eastern monopoly, oligarchv and
aristocracy; and section cf The commonwealth
stood III hostile array against another. Temperate
men on both sides sought TO allay the public excite
mont. by mutual concessions and hy course OF
Measures, of immediate adoption tcndinr 10 remove
She real causes OF complaint without cl6arIiro, ;he
state voyage of perous excitement or ul,:Tnin
It in;o TortnX Of ri!iuo;i5 speculation. phis said
Mr. - the awful state Of this commonwealth at
| 'Ae memorable session of fGl6-t7 The public
tranquility pcrIans h, MIGHT saw tI,a ncrcn If t
state, 1T that time preserved by the indcions
councils Of few able and temperate mon. Members
from the east who doubted the fitness and canocitv
Of tie interior paris Of Tie state for baykjno 6ncrn
tons, yielded something of their opinions. and aided
10 framing the Bark Of the Valley ard the North
Western Bank, on tho system of organization which
had already been applied in the eastern rgr.s Of the
state. And members from the west came forward
and proposed in leu Of convention TO eGualiZe tlo
representation in both Houses of Assembly; q law
Tor equdlzIng the representation in the Senate and
the land tax. compromise of interests and opiil-
! ions was hastily made 10 between the contcndnn
parties which restored tie public harrlonv and cave
great and extensive satisfaction; the west layinn
gained representation in the senate o.. he basis Of
white population: the east retaining g.c2onderance
IN the House OF Delegates, and gainng an eaualiza-
ion Of The land tax: and the state I.scued from
another Mississippi scheme, threatening the most
. portentous evils 70 The whole community.
IN referring 30 the history of the present seratori
al districts, nothing could he found to warrant the
assertion HAT the General Assembly of l8lG-17
actually did express, or intended to express, any
opinion as to the proper basis of representation fol
Tue entfe government OF the state. The question
vas, at that time mixed up with circumstances Of
comFromi%e lat materially affected the issue and
Gafficn al inference IS to the future organization
me goferunl9ht' Air.. G. protested against the
ts,.cs or ro!icy, OF Dragging the acts OF former
Assembly to bear upon the decision of the present
question OF OF shaping the acts Of the present
l;csslatHFe, so rs to influence he deliberations Of
eh9 convention.
Hut ii gentlemen would still insist in ,lc.iance O.
al ne could urge, to bring 10 their aid the precedent
81 i"i0-l7' lie would beg leave to remind them
that III The arrangement then made of the counties