Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1834-11-20
EXTRACTS FROM THE SPEECH OF MIR.
LEIGH, AT PETERSBURC

purpose IN regard 10 the bank question.
I were either uniformed Of his sentiments.
or uniformed Of the true state of puhlic
opinion and Of parties out OF Virginia. in
reference 10 the subject, and, in the vii
lulness of party deiuslon, incapable of be-
ing informed-or they were themselves
uncandid. The people of Virginia sent
Their representatives TO Congress, with
orders TO begin their game by showing
their hands, spreading their cards upon
the table, and TO that Mr.. L. had no OBJ
lection; but then, there was set of men,
who las II their whole interests were stalk.
ed on the game, but not on our side)
would go still further, and interdict them
from endeavoring TO find out what cards
were in the hands Of other PLAYERS, and
from telling, if they should find out; and
who we're ready to denounce him who
should publish what be should discover or
believe, as a cheat MIR. L. knew, when
be went to the Senate, that the policy
which the prudence Of self love would
have dictated for him, was sort Of" non
committal"-a careful concealment Of his
views OF the present state of things, and
his apprehensions Of the future but he
knew then, and knew now, that that was
not the course Of duty And he tcould tell
whatever he knew or believed or feared,
which II concerned his constituents 10 con.
slider; saving always his fidelity TO conf
dence reposed in him. He would warn
his parent of dangers set in his path.
though that parent in the exec SIS Of self
confidence should turn a deaf ear TO the
warning, or even disinherit him for giving
the would tell Virginia what she had to
expect, explain to her the choice of evils
which he thought lay before her, and in.
woke her timely and deliberate considera-
ton of them, if he were sure that she
would be offended by his zeal and Free
dom, and in her anger discard him from
her service, forever. He would tell the
people of Virginia, that upposing the
bank guilty OF every vice that had been
charged upon it, and allowing il TO be
dangerous, corrupt and corrup,ing, as
well as unconstitutional, institution; it
was yet more dangerous, and il was
wholly unnecessary, 10 concede or sane
ton an arbitrary power in the Executive
TO put 1t down. The Bank must have
gone down Of itself, and that in very
short time the assumption of power by
the Executive, if approved, and allowed,
would be established, and stand an exam
pie TO all times. The Bank was indeed a
monster, if it were necessary for IFS de-
struction, to admit and maintain another
monster, which was as capable Of destroy
ing the constitution as the bank mon.
archical prerogatiye. He would still tell
the people Of Virginia. that, in bis opinion
| founded on long and anxious reflection,
nothing would be ultimately left 10 them
but choice of evils. He would tell them
that the objection to national bank on
constitutional grounds. was, and has al
ways been, confined 10 Virginia, and
few, very few, other States OF the Union;
that, therefore, whenever any administra.
lion should think it expedien,, or when.
ever. at any moment, the opinion Of it's
policy, much more Of it's necessity, should
become general throughout the Union at
large, as it happened in l8i5.l6, a ma
tional bank would be created, in spite of
our opposition and that this was a con
| sideratIon, which, as it could uowise be
put aside, ought never TO be overlooked
in our calculation of consequences 1t
was difficult TO conceive, how this nation
could hang together, in its present state
| of political union and commercial rela
| lions, without general uniform currency
of some kind or other--he believed. the
indispen sble necessity Of such currency
was universally admitted. 1t was difficult
to conceive, how the state banks could
furnish such currency-because if for no
other reason. even supposing their credit
solid, yet, owing TO the multitude Of them,
it would be impossible for people in dis
tant parts, 10 be informed of the state OF
their credit, or be able to Judge Of the
| genuineness of their notes. But their pa
per would supply the local currency II
was difficult to conceive any means within
the constitutional competency Of the fede
raj government, by which the state bank
system could be suppressed, or the exten.
sion Of il by the States prevented-or any
constitutional means, by which even their
small notes could be drawn out Of local
circulation, for, as the scheme which had
been suggested Of suppressing them by
the imposition OF a federal stamp duty, il
could not have been well considered; il
was plainly unconstitutional il was per
version OF power given for prescribed
purpose, to another and wholly differen
purpose; which would be found in prac
tlce, the most sweeping and dangerous Of
all the systems of construction that had
yet been invented. And SO long as the
State Bank system should continue. and
the State banks should remain in any
colourable state of credit, he could no
see how it was possible 10 restore a hart
money currency. Such measures as th,
Gold bill, and others which the fedora
governmentwas competent TO adopt, nigh
have the effect Of infusing larger portioi
of specie in the general circulaIion-and
, in his opinion, the more the better bu
the result of his reflections on the subject
was, that the effect of such measure
wonld be very partial and limited indeed
All things considered, the institation Of
national bank would present itself as th
easiest raethod at least, Of providing
/. general uniform currency for The Who'll
0 Union; and it would, therefore, be re
: sorted TO, by those who thought such a
o institution constitutional as we'll as exp,
: dent; and adopted, If they bad the major
A tic And then those who Thought IL ur