Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-02-03

Of the country 1t had nov peen aiieSSeu VIA
We are to be left in the same conulllol, d. "
llaws, as when the old Bank ~, aiu' -
course that we are to be subjected 70 the same
,s,s.,,s9o,,ienoes For the convenience OF the
/ Covernnent and Of the country, there must pc
s, p al he should wish to hear the vie WIS
of the Administration as to this point ile " as
mot so welded to this Bank as not 10 pe WHINE
to hear any other plan when hIiis.i ny
might devise if any other feasible scnemes couid
| be devised.
The Bank currency had heretofore been cir
| culated every where; it met the wants OF every
one; it was convenient and sale. IL was liipos-
sble for Congress to enact certain Vaiue on
the paper of the State Banks. They might say
that these Banks were entitled to credit; but
thew could not legislate them into the opinion
and faith Of the public. These must take their
own course 1t could never happen that the
New York notes would be atpar value IN Lou
isana, or that the notes of the Louisiana Banks
would be at par in New York The law had
now constituted uniform medium OF value eve
nv where; and he would say that there was not
to be found in the whole world another instltu-
ton like the Bank of the United States. Ihere
was no instance of Bank, whose paper had
spread over so wide a surface of country, and
was every where of such equal value. How
could it be that a number of State Banks reach
ING over 1000 miles Of country, subject to be con-
troled only by State Legislatures and State trl-
bunals, without the possibility of any general
concert of action could be maintained as an adj
eouate substitute for such Bank? 1t could not
be- He saw, in the doctrines when mad Deen
advanced to-day, only new distress and dlsas-
ter new insecurity, and more danger to proper
ty, than the country had experienced for many
wears: because it was in vain to talk about the
occupations of industry unless property was
made secure, or of the value of labor unless its
recompense was safe. But an opportunity would
occur for resuming this subject hereafter.
A word or two on another subject 1t had
been said by him, on former day, that this
question did not necessarily draw after IL Inc
question of re- charterng the Z. States Bank
1t left that question for future adjustment. But
the present question involved high political con-
siderations, which he was not now about to dis
Cuss If the question of the removal OF the de-
posites were not now taken into view, gentle
men would be bound to vote on the resolutions
of the Senator from Kentucky as to the power
which had been claimed and exercised. The
question then was not as to the Bank. But he
would repeat that, however gentlemen might
flatter themselves fit should not be settled that
the deposites were to be restored, nothing would
be settled, and negative resolutions would not
tranqulize the country into quiescence and re-
pose The question was before the country; all
agreed that 1t must be settled by the country
He regretted that topics were mixed up with the
question which would preventit from being sub
mitted to the calm judgment OF the people,
Yet he had entire faith in public sentiment
Events were occurring daily, which would make
the people think for themselves. The industri-
GUS the enterprising, would see the danger
which surrounded them, and would awake
Then he should be satisfied. If the majority of
the people should then say there was no neces-
sity for continuance of this sound and univer-
| sal currency, he would acquiesce in the Judg-
ment because he could do no other than acqui-
| esce, But if the gentleman from New \ ork
was right in his reading of the prognostics, and
public opinion should settle down IN that way
and it should be determined here that the pub
! lie money and the public currency were to be
placed at the disposal Of twenty -four State So
vereigntes entrusted with absolute power over
| the whole subject, this he would say, that one,
| and not poWerless one, of the bonds OF the
| Union was dissolved.
| Mr. WEBSTER concluded with reference to
| the condition of the country, before the adOp-
! ton of the Federal Constitution, when the States
were anxious to rid themselves of the difficulty
and responsibility which attached to them, in
| consequence Of their power over the currency;
and stated that the adoption Of the Constitution
was desired for the purpose Of getting rid OF
state of things so Justly described by one of the
| fathers Of the Constitution, as unnatural
condition ofthe counry-when the debtor was
relentlessly pursuing his creditor, and threaten
ing him with the ruin of payment
| Mr. CHAMBERS said he believed the an
nuncaton now made by the Senator from New
York (Mr. WRIeHT) would be heard by the
Amel lean people with a feeling of GiSmay and
dependency. which would be excited by the
intelligence that famine rpesulence was com
| inc upon the land. The Senator from New DIRK
! has frankly come upto the question. He has
boldly and fully disclosed the desperate purpose
-of pursuing what, in his (Nlr. C's) opinion was
the mad scheme Of the adm nistraton in rea-
ation to the attack on,the Bank and the cur
rency of the country. In the picture given for
public exhibition by the Senator from New
York, the community would discover quite
enough to PROSTATE all their fond hopes that
their rulers would devise some measure Of re-
lief But, fightful as it would be to disappoint-
ed and suffering people, it contained one figure
which does not belong to it, and the abstrac-
ton of which must make its aspect still more
hideous. The Senator from New York has
stated, that ''selected State Banks have dis
counted with liberality" Sir, the Senator has
no warrant for holding forth such palliaton
to the broken spirits and detected apprehensions
of an oppressed people. If they repose on the
prospect thus presented to them, they will find
it deusive and deceptive. Let us look to the
e. toft ho off ba