Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-02-26
CON RES SIoNA l.
THE EXPERIMENT.

Georgia stated yesterday, more dlStlncty IMAM
I have before learned it, what that experiment
is which the Government is now trying, on the
revenues, and the currency, and, may add, on
the commerce, manufactures, and agriculture,
of this country. fl rightly apprehend him, this
experiment is an attempt to return to an eXclu-
sive specie currency; first by being able, through
the AGENCY of the State banks, to dispense with
any Bank of the United States, and then to SUI
persede the use of the State banks themselves
MIR. President this experiment will not amuse
the people of this country. They are quite TOO
serious to be amused Their suffering is too
intense to be sported with.
Assuredly, sir, they will not be patient as bleed
ing lambs under the deprivation of great pre-
cent rood and the menace of unbearable future
evils They are not so unthinkng-so stupid,
NAV almost Say-aS to forego the rich blessings
now in their actual enjoyment, and trust the III
ture to the contingencies and the chances whlch
NAV betide an unnecessary and wild experiment.
Thev will not expose themselves, at once to in
iurv and to ridicule; they will not buy reproach
and scorn at so dear rate; they Will not pur-
chase the pleasure of being laughed at by all
mankind, at price quite so enormous.
Mr.. President, the objects avowed for this
most extraordinary measure, are altogether I'M
desirable; the end if it could be obtained, is an
end fit to be strenuously avoided; and the pro-
cess adapted to carry on the experiment, and TO
reach that end, which it can never attaln-and
which, in that respect, wholly falls-does not
fail, meantime to spread, Tar and wide, deep
and general distress, and to agitate the country
beyond any thing which has heretofore happen
ed to us in a time OF peace.
Sir. the People, in my opinion will not sup
mort this experiment. They feel 1t to be aff1c-
tive. and they see it to be ridiculous: and ere
long. verify believe, they will sweep 1t away,
with the resistless breath of their own voice. and
bury il 1p with the great mass ofthe detected de-
lusions and rejected follies of other times. SEEK
sir. TO shun all exaggeratlon-l avoid studlouSy
all inflammation and all emblaZOning; but be-
seech gentlemen to open their eyes and their
ears to what is passing In the country ana not
to deceive themselves with the nope that thlnSS
can long remain as they are, or that any bene-
fetal change will come, until the present pohcy
shall be totally abandoned. / attempted, sir, the
other day to describe shortly, the progress OF
thepublic distress. Its first symptom was spasm
contraction agony. 1t seizes first the CONNER
cial anu trading classes. Some survive II, ana
some do not But those who, with whatever
loss. effort and sacrifice, get through the crisis
without absolute bankruptcy, take good care to
make no new engagements till there shall be
change of times They abstain from all further
undertakings; and this brings the pressure I'M
mediately home to those who live by their en-
nlovments That great class now begin to feel
the distress. Houses warehouses, and snlps
are not now, as usual, put under contract, In the
cities Manufacturers are beginning to dismiss
their hands on the sea coast and IN the interior;
and our artisans and mechanics acting Tor
themselves only, are likely soon to feel severe
want Of employment in their several occupa-
tons.
This. sir. is the real state of things. 1t is
state efthings, which is daily growing worse and
worse IL calls loudly for remedy; the People
demand remedy; and they are likely to persist
in that demand, till remedy shall come.
For one, sir, have no new remedy 10 pro-
nose. Nv sentiments are known. ] am for re-
chartering the Bank for a longer or a shorter
time, and with more or less of modlhcatlon.
am for trying no new experiments on the prop
erty, the employments, and the happiness OF the
whole People.
Our proper course appears to me TO be
as plain and direct as the Pennsylvania Ave
nue. The evil which the country endures, al
though entirely new in its extent, its depth, and
its severity is not new in its class. Other such
like evils, but of much milder form, we have felt
in former times. In former times we have been
obliged to encounter the ills OF dlsordered cur
rency of general want of confidence, and OF
deprecated State Bank paper. To these evils,
we have applied the remedy OF we'll consutu-
ted National Bank. and have found it effectual
am for trying it again. Approved by forty
wears experience, sanctioned by all successive
Administrations, and by Congress at all times,
and called for, as verify believe, at this very
moment by vast majority of the people, on
what ground do we resist the remedy of a Ma
tional Bank2 1t is painful, sir, most painful, TO
allude to the extraordinary position OF the diff
ferent branches ofthe Government, butiti ne
cessary to allude TO it. This House has once
passed bill for rechartering the present Bank;
the other House has also passed, but it has been
neoatived by the President and it is understood
thai strong objections exist with the Executive
to any Bank, incorporated or to be incorpora-
ted, by Congress
Sir T think the country calls and has right
+ocah on the Executive, to reconsider these
objections, if they do exist. Peremptory objec-
tons to ali Banks, created by Congress, have
notyet been formally announced. nope tney
will not be- think the country calls Tor re-
vision of any opinions which may have been
formed on this matter and demands, IN It's own
name and for the sake of the suffering people
that one mans opinion, however elevated, may
not stand against the general judgment No
man, in this country, should say, in relation to
subject of such immense interest, that my will
shall stand for law.
1t does not become any man, in a Government
like this, to stand proudly on his own opinion
against the whole country. l shall not believe
until il shall be so proved that the Executive will