Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-01-30
coNGREsSIoNAL.
N Senate, Monday, Jaaaary2 q.

$3.50
AZ ERELINGHUYSEN presented apet-7
4;on from 4 number of citizens.O OF Newark, New
Isrsev. praying that the deposites OF the puphc
MONEYS may be restored to the Bank OF the
United States. j. ....
uuyssg said: I have before me, to offer for the
1consideration of the Senate, a memorial OF the
/ citizens of Newark, New Jersey, on the SUBJECT
of the present agitation Of the country. Thls
document is signed by thirteen hundred and Tor
ty-one of the citizens of that town, and com
bines the great mass, at least four-tifths, OF Its
business population. They deplore the removal
of the public deposites from the Bank OF the
United States. and the consequent breach upon.
the credit and arrangement OF the currency Oh
! the country. Ed.
This memorial knows no distinction OF party:
7 find among its numbers many OF the Marcy
so,s IF honest labor. who feel this blow most
deeply. in the reduced demand and wages OF
their industry. For, however visionary Specu-
latists may reason, a plain man knows that the
| value of his industry is deprecated Dy every
act that alarms the credit and commence IN the
money market. There is not a political econo-
mist on earth. in the use of his intellectual per-
%ceptions, but must admit that such a sudden and
violent measure, as the order of the Secretary,
and proceeding from the hand OF the Govern
ment, must inflict injury-itl is inevitable. WY,
sir. consider, for a moment, the anae: When d
prosperity prevailed in all the branches OF com
/ dud II olO heAAO0
any other country-When all the channels OF
confidence were full-when enterprise and trade
were strained to their highest pressufe-then, TO
strike a sudden blow at the great moneyed re-
preventative of capital, could not but produce a
crash. The confidence of the country is Smlt-
ten. Men do not know where they stand, OF
what may be the coming crisis.
1t is most marvellous, Mr.. President, that 1t
should never have occurred to the Executive,
that his remedy does not and cannot reach the
evil. Let it be granted that the Bank Is a dan
gerous agent, and that the President and d.
reetors deserve all the suspicious and denun-
Citations that have SO literally assailed them
thatthey are now engaged in meditating all man
ner of terrible designs" gorgons, hydras, and
chimeras dire'2 Why, sir, do you not see that
the removal of the depOsites does not touch the
transgressors? There sits the President OF the
Bank, with his Board of Directors, around the
| exchequer.table, as calm, | doubt not, as a sum-
mer's morning: his salary goes on; his official
functions are uninterrupted; and the Bank itself:
the only object which the general panic has left,
without a conclusion or even excitement.
The Executive breads and condemns the
Bank; and Furnishes by distracting the country
| and distressing his friends. Yes, sir, | have
said that this memorial had no party character
istics about it. l wish sincerely that could so
persuade the Administration and its friends. 1t
ranges above party-far above it. 1t assails the
business and the firesides of those, many of
| whose names re'here, who have stood by the
President in good and evi report. What mo-
tive can they have, or what i~nducementi is there
for any man, to decry his administration, or
embarrass, without good and strong cause. his
policy? Sir, they would far rather persuade
him to add another laurel to his Wellearned
wreath-not by military victories, but by a no.
bier triumph, the self conquest that would pre-
vail with him to retrace a step that is so calam-
itous to the country.
Mr. president 7 know that shall have the
sympathies of the Senate, when | recall to them
the Instructions lately transmitted by the LeglS-
lature ofthe State which ], in part, have the hon
or to represent. This is a great national ques-
ton, of common concern to us all: Tor these in
structions are multiplying, and call, certainly
from me, sir, for distinct and respectful notice.
The import Of these instructions, | admit, sir,
cannotb be mistaken. The terms are unequivocal,
and plain to any apprehension. They instruct
us to sustain, by our votes and influence, the
course of the Secretary of the Treasury, in the
removal ofthe deposites. What are the nature
and claims Of Legislative Instructions? That a
Legislature has the inherent right, legislatively
| and detached from their constituents, to direct
the political conduct ola Senator in Congress,
can never subscribe to. Sir, where has such q
right been delegated by the People? A Legis-
lature of the State instruct or direct the Senate
of the United States! Why, Mr.. President, we
had better change places at once. But where
TIC 1SSOlullOIlS vi Legislature Cdl NC SotloloSlO-
rily regarded as the clear Indication of public
sentiment, deliberate and abiding, | al bound
TO hold them, as | do hold them, in most respect
ful consideration. And on such an OCCASION,
where that opinion interfered with my own
judgment and conscience, l should promptly
surrender a trust that could no longer be held
in harmony with my constituents. But here,
sir, my embarrassment commences. am not
satisfied that these resolutions are the sure in
dex of decided public sentiment. Sir, you know,
that, for the last five years, Our political atmos-
phere has been very much given to change
The wheel is turning now, and, unless | mis-
read the language of events that are passing,im-
pulses are given to its motions, that will bring
them to a whirl. Now, sir, will it be right to
surrender private convictions of duty to an in
huence from this giddy seat of power? l think
not. / am quite conscious Of the delicacy of
my position, but | trust that l meet it without
fear. will further say, sir, that even where the
opinions of a State may be well known, occa-
sions may arise to a Representative Of the Peo-
pie, rare | ~grant-when the emergency is of
that deeply eventfnl nature-when he must go
alone, so to speak, in the purity ofhis own pur-
nOcac and cast himself with all his fame and all