Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-02-13

ton very snort Time since, Waiteo on
the President and laid before him their
complaints. The President received
them with great kindness and attention,
and after hearing them through, told
them that his mind was made uP,-he
should not consent to restore the depo-
sites, or re-charter the Bank. You see,
said Mr.. b., it is useless to do any thing,
the Presidents mind is fixed. Sir, an
other reason why we should do nothing
to my mind is-our State Leg isature, it
is well known, has just concluded an un-
usual long session, during the whole Of
which, nothing was done by them in re-
gard to this subject. Ii did see any
possible good, sir, TO come from 1t, l
would be willing to do whatever might
be thought proper, but as our affairs are
in very prosperous way, sir, there
fore think the less we do the better
Mr. Robinson Potter did not intend TO
have said word. His friend, MIR.
BulD he said, had not exactly represent
ed the distress as he thought it actually
existed. The gentleman stated that a
number Of respectable merchants had
plants before the President. Gould
these gentlemen, as he believed they
were alleged to be, friends Of General
Jackson, go to Washington and misre-
present to the President facts on a SUBJ
ject of so great importance as that which
now agitates the whole country f? / be-
lieve, CONTINUED Mr.. p. there is great
OF ha nd IN
portland although ! am in favor of the
present administration, Jackson man,
about which there is no mist axe, still |
am not willing to so all lengths with
them, or the party. What is party to
me, if am to be ruined? This is the
situation OF our country-distress is all
around US. We find, sir, that men in
Congress are arrayed against each 9TH
er like two veteran armies, while the
country is groaning under the greatest
distress; ss;-perhaps il is not So great as
has been represented by many Of the pa
pers, but that there IS distress he knew
20 he true, and felt it himself.
Here Mr.. Potter stated a crcum-
stance illustrative of his position, to wit:
he had an undoubied Draft for $500, on
Barring, Brothers, SCo. which he sent
to Boston few days since to sell. His
correspondent informed him that he.
could not obtain the cash for it, but might
sell 1t at one or two per cent under par
at 60 days. MIR. Il. said that he the n
sent the Draft TO the agents Of Barring
SEQ. in Newly ork, and was alike un-
successful in procuring the cash for it
there, they having informed him that in
consequence of the distress and want of
confidence, all money negotiations were
at n dead stand and when a favorable
change might be looked for they were
unable to conjecture.
Now will gentlemen tell me there is
no distress in the country? There is a
want of confidence sir, in the country if no.
thing more. A great want of confidence
Destroy that confidence and where are
you ? Ruin will come next. These are
facts and cannot be winked out of sight.
The great danger now is, that we are
not every step plunging ourselves fur
ther into difficulty. People may tell you
It is Orer-trade that has brought about
this state of things, but it is not so now.
1t might have been orer-trade in New
York in 1895, that caused so many fail
lres and so much embarrassment among
he great capitalists, but that is not the
case at present. This year, said Mr.
=. commenced and bid fair to be one Of
the most prosperous ever known-the
orer-trade, if it might be called so, had
enriched the country, and we were do
ing a lucrative business. You might as
we'll continued Mr. p. attempt to change
he religion of the country, by any means
short Of cutting off the heads Of all the
living, as to attempt to change our safe
md healthy circulating medium, with
,ut producing universal distress If this
state of things continues to 60 on, dis
ress will reach all classes of the com
nunlty-it will come 10 every mans
loor; this is what anticipate, and what
am afraid of. believe the Executive
5 determined to carry his measures into
,flect, and to petition him will of course
avail nothing; but if we pass resolutions
nstructIng our Representatives in Con-
yress how to act, think it may do some
good. The voice of the people ] think
will be heard and respected. Can
nan, said MIR. p. stand and see his
'eighbor fall and Frustrated, and not
eel fellow sympathy for him ? Al
hough ! have always been against the
resent Bank Il nevertheless believe that
might be re-modelIed and made safe
ngine to carry on the financial concerns
1 the country.-And if there is more
ood to grow out Of such an institution
han evil, | for one am for taking care
4 1t, and for taking care Of ourselves,
without waiting for something to be done
Or us Dy DpstprIty There ia No dnutt