Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-02-01

representatives mere s,
&C far a. in his power, an efficient support TO the
acts Of the Executive on this subJect, he would
resist. any effort, come from what source. IL
night which should have for its object to pre-
vent return to a hard money currency. ;, 20
far as his assistance could be OF service 10 the
federal Government it should have IT. II that
conrse shonld be taken, and found to be consist
ent with the substantial Interests OF the commu-
nty. He would give it his most warm and SIM
cere support; and no man would be more hlghly
gratifed than he should be, to meet any Propo-
sition which would have for its object the carry
ing ofthat plan into effect.
But again, the honorable Senator had said
athings cannot remain as they now are;" that
unless something according to his views OF
the subject be done to afford relief--the pres
sure. the Distress and the agitation will CONT
nue.. He>( Mr.. W. had already given the Sc
nate the source, and the only source from which
the present pressure proceeded, and, he had al
so stated. with unsparing frankness and without
reserve, the object intended to be accomplished
by the Bank of the United States, and he would
leave the country to- judge of the correctness o.;
his opinions If them they were sound and well
founded, if was unquestionably in the power OF
the Bank to psolong the pressure, and, conse-
quently, keep the public mind in state OF agl-
tation 1t did not become him to assert what
would be the course of the Bank with the conf
sets. He (Mr. W. could, therefore, only pro-
nounce his opinion, and it was this-that the
Bank had not ventlHed on this whole measure
without the deepest consideration, and that 1t
would not surrender, its purpose being unac-
complished but upon the sternest necessity
He trusted in God, that soon, very soon, that
necessity would be made most manifest by the
attitude which the country must and would as
sumo towards this daring and dangerous lnsu-
tuition.
The American Revolution was but resist
ance to moneyed power-the exercise OF
moneyed power, without the consent, and be-
yond the reach Of the People of the country
To it cur fathers had offered stern and un-
compromising resistance. Their wants and sui
ferings were great and their distress was pictur
ed to them in the most gloomy colors, by the less
sanguine and would have deferred them, but
for their ardent love of liberty which led them
onward to it's achievement That picture was
not imaginary; their distress was not an idle
fancy: it was the fact. The country was not
then strong and prosperous, but weak, ana poor,
and dsheartened. Their hard and perilous ser
vices were paid in paper worth 10th, 5oth, or
6Oth less than its nominal value, or the repre-
sentative of dollar but which was dollar to
Them for it gave liberty to the People and offer
ed them freedom from oppression.
And were we now, he would ask, to told our
arms, and obey the dictates Of moneyed pow
er, and not remove the Deposites?-a power
which had been brought into existence by our
sanction, and which depended upon Congress
for its breath, life, and being. Our fears and our
avarce were appealed to for the purpose OF
compelling us to create such power and we
had been told that the currency of the country
was in its hands-that all the institutions char
tered in the various independent States were
subject to its control and welded by its canon.
While we see it in open array against the Gov
MT ipuj It's
doors our representatives placed at It's Board,
and tauntngfy telling us that they are lncompe-
tent, perhaps too ungenteel, for them while
they laid on our table their declarations, clas
sing them with counterfeiters and lelons; and
saying to the Congress of the United States
they deserved kindred treatment. Should we with
such evidence ofthe power of this institution.
with such evidence of its disposition, exercise
the powers which it is said we possess, to give it
existence? Were we to do that, after the sub
ject had been submitted to the People, and de
liberatey decided before that tribunai-and
call on the People and alter their judgment,
after it had been pronounced in favor OF the
course Of the President, and against the Bank,
by such majority as had perhaps never before
filed the ballot boxes.
He did not distress himself on the subject Of
the public pressure. Gentlemen had talked OF
revolutions, but when this action which he dep
recated should take place IN the American Con-
Sf6SS, tllen WOulQ leNOluLlOn We UIOuSllI d
bout; then would their legislation be yielded to
the sic uolo sic jubeo, statPro ratione pot4ntas
ofthe Bank.
He would merely pronounce his opinion, that
the country had approved of the conduct OF the
President, in attempting to relieve it Of moni-
ed monopoly; and that it would sustain the Elk
ecutive arm of the Government in the expert
ment now making to substitute the State Insti-
tutions for the Bank Of the United States He
had the most entire confidence in the full and
complete success of the experiment If, howe
yer. it should fail-ifit should not succeed so as
to satisfy the country, then it would be time
enough to exercise the powers of Congress, and
to ask the people what course they wished it to
adopt. But, until the experiment on this sub
ject was tried, he never would give his consent
to grant such power as the Bank of the Uni
ted States was in possession Of
Mr.. WRlGHr was followed, in some very in
teresting remarks by Mr.. WEBSTER, Mr.. CHAM
BEERS, Mr. TALMADGE, and Mr.. GRUMPY. A re-
port of these hereafter.
On motion of Mr.. GRUMPY, the memorial was
laid on the table. Ayes 3d. Noes %.