The Arkansas advocate., 1834-01-31

oell9 reported by tho arrival of the hour 1 for closing our coIumns,) Mir. MID. gave way 10 motion for adjournment: and the
 House adjourned
 SECOND DAYS SPEECH.
 And now, sir, let me enquire what will ba the course of things, if we decide thai inc
 Fuhle Deposites shall remain in the State
 banks and 1t shall hereafter become i, mat l ter of bargain with the Executive. who shal! haFe them Sir, we ali know the gans sh'i Is gong on 1 deplore 1t as much as any man can do, but there never will he . 'ihe when the election of President will itos De m all expressing topic with the greater part of all politicians. And what.
 sssia ;;s;5iiis, Is flow t5ofg oni vily, ST. inc iKf ssi92S InsiniIofsi :s.lf .,,*g tlss Is.sia,ss hsen. he grent qnestinn k fhis ,.ho snail be the successor to the Presidential chairs The contest now is for the success slon, and all the powers of the Government are organized and in action to secure the election ot an heir apparent. Every body knows, out of the House, what 1t Is almost treason 10 speak within it, that such is the fact. And what more do you want than the control of the State Banks, at once to settle tlis question.
 And tlns brings mo to another point in tins inquiry. It is said by the President, and hts Secretary, that the great re;,s;,ii f;,i removing tine deposites at thls tune from the Bank of the United States, was the expira- ton of the Bank Charter, in 1886. Now. of all the reasons that could have possil9lv. been giyen this IS emphatcaly the reason why he should have aLstained from ren,oy Ing them The Bank, in the natural course ot things, and by the mere force of law, was about to cease from having any further influence. The Deposites, we are told, were removed from the Bank, because inc institution was of dangerous tendency, and the public liberty was not safe So long as Its powers continued. There might have been some weight in these reasons, if the period had not been so near at hand when its powers of every kind were 10 have come to an end. Indeed, almost eyervs reason put forth by the President and Secretary, are answered by the single fact that the Bunk Charter $ to expire In 1856. Tho Bank, We are told, was to destroy liberty and of9fturn the Goyernmenf; but can # do dil this in two years At that time it will cease to be, for the Secretary informs us, that the people have decided that tho
 Bank shall never be re-chartered. How then, l ask, was It's influence to be so very sdvadly within Inc short space of two vearss 1 Why, SIT, its plain that there must be some- thing about 1t which will operate on the election of the next President. The fhinU to which the Bank will be so very fatal. the ] tfnng which 1t IS so certainly to destroy. 1 turns out to be--the election of the heir an- l parent. Sir, the expiration of the charter so early as 1856, IS in itself. conclusive 1 proof that the reasons given for the removal of the deposites, are not the true reasons. now venture to say, that, two years from this tune, If this system shall be suffered to be carried into effect, the whole monied power of this country, will be concentrated wherever the political power of the coun- try resides All viii go together--there
 will be complete combination of the State
 banks from Maine to Louisiana-a perfect
 understanding will prevail throughout the
 whole. They will be actuated by one spir-
 It, and they will all be in the hand of one
 man. They will all in the strictest sense 1 oI the term, be Government Banks. Yoi,
 will then have not only the twenty millions
 Of Government deposites, but, in addition
 to this, you viii have more than hundred millions of Bank capital, all wlelded against the public liberty. Sir, if there be spec tacle which, more than another, is to be contemplated by a patriot with fear and horror, fl IS the concentration of such pow
 CT as this.
 I While on this branch of the subject, 1 will remark, that there could not have been
 selected period for the exercise of this power, more unfortunate for the country.-
 lhe grounds alleged for the selection, are,
 the necessity of gradual preparation for the change which must accompany the ex- l pration of the charter, and distresses bro't upon the commercial cona,,'unity, by tk- Bank of the United States, during the pe-.
 rlod from August to October. Now, sir,
 all who are the least acquainted with the
 practical operation of that Bank, must know
 that the removal of the deposltes, at this
 time, will neither increase or diminish the pressure experienced at the winding up of
 it's concerns. It is admitted on all hands, that fhe Bank IS managed by intelligent l men, well acquainted with banking con- i, cerns, and perfectly awake to thew own ir- , terests. Suppose the Bank should pro- l ceed with the public deposites in its vaults, VIII It's aitSItots= fiol FieW iHGst uSjDsilt5 as part of it's debt to the public? And will they not, of course, make the same provision for the payment of this portion of the public debt as they do with the other portions of it Sc that, whether the de- [ posItes are removed now or at a future time, can have no effect upon the settlement of } its affairs. Why. then, remove them nosp unless it be gratuitously to add al this tune,