The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1834-03-05

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ined from the very prudent arrange
ments nude by them, that they could
have carried themselves through tie
crisis without any great public complaint
This however, was not SO, and they
found themselves disappointed. They
have sent here a memorial setting out
these facts al length. After describing
the great pressure in the money of the
country, and that all means would soon
be exhausted, they add, the capitalists
have already advanced SO much beyond
their means, that no further relief could
be expected from that quarter. That
unless some aid were soon afforded they
would be unable to fulfil their contracts
and the result would be general de.
rangement of all business. The memo
rialists attribute this to the condition Of
uncertainty in which the whole money
system of the country had been thrown
by the interruption of the former rela.
tions between the United States Bank
and the government. They pray for
the return of those relations of ami'y and
confidence as the only ground upon
which their former prosperity could be
restored.
The memorial was signed said Mr.. B.
by one thousand and sixty-fve persons
somewhat more than the whole number
of voters in the city of Providence. He
believed the whole did not exceed eleven
hundred, and there had never been poll
ed more than nine hundred at the most
contested election. AT this season OF
the year, many Of them were absent on
business, in other States, probably not
less than three or four hundred. He did
not believe there was single man Of
Providence and its vicinity entitled to
put his vote IN the ballot-box, who had
not subscribed his name to this memori-
al. 1t was signed by leading men Of all
parties, and two of the gentlemen who
had written to him on the subject, Mr..
Richmond Bullock, and Mr.. Ives, the
former President of Bank, were
both of them leading men in favor of tho
Mr.. Burgess said that the men Of Rhode
Island were as fixed in their political
principles and as capable of deciding on
financial questions, as any men in this
or any other country, nor did they yield
to any in talent and integrity. They
state it as their firm conviction that the
conduct Of the Government towards the
United States Bank, had brought these
evils upon the country, under which it
was now embarrassed. and that the only
sure mode of relief was by restoring
public confidence. The honorable mem
ber entered at some length into an eulo-
gy on the enterprise, talents, integrity,
and high moral character, of the citizens
of Providence, North Providence, and
Pawtucket, among whom he had lived
for a period of almost forty years.
There were no men on earth more in
dustrious or more faithful in their en-.
gagemen,s. Though occupying but a
small space on the map, the fruits OF
their genius and industry were to be
found dispersed over almost the whole
inhabtabIe globe, supplying even the
markets of the two most enter orising
nations of Europe, England, and France
He alluded to the invention of making
nails by cutting. 1t was in the State of
Rhode Island also, that spinning by wa.
ter was first brought into operation.-
With less than "a community of hun
dred thousand sonls they had accumu-
lated banking capital Of more than
seven millions of dollars, and to one dol
lar of specie in their vaults they had
not three of paper in circulation. If
hen a people SO circumstanced cried
,ut upon the pressure of the times, what
must be the situation Of those who had
wenty dollars of paper abroad for every
one of specie in their vaults. After
some further remarks, Mr.. Ii. concluded
oy moving that the memorial be read,
and referred to :he "eternal"
Committee of Ways and Means.
Mr.. PEARCE said, he had two Pc
itlons to present to the House, but be-
'ore he presented them, he would make
, few remarks in reply to his colleague
who had Just presented a memorial from
he city of Providence. The SPEAK
Err asked Mr.. Pearce if he rose to ad-
1ress the House on the memorial Just
presented, and he, replying IN the atiir-
native, proceeded to say, that this me-
mortal he had seen some days ago, in
one of the Providence Journals, and he
had heard much as to the manner in
which i! was got up. While the clerk
was reading it at his desk, | examined
The signatures to it, and they all appear
I'd to be in the same handwriting.
Mr.. burgess explained. There
we're two copies of This petition one of
which was sent 10 the Senate, the other
the one before the House, 1t would
be seen that number of the names were
n the hand writing ofthe persons whose