Litchfield enquirer., 1834-01-16

excitement bclng tor the moment piehsuTaDie' many resort to such expedients, sometimes from the want of reflection, and not unfre- quentIy from the want of ability to G"rego the pleasure of a pleasant, though momentary justification, for the sake of obtaining last ing g0Ud.
 (Remainder neat sesek
 >tr
 Conclusion or Mir. Ciay's Speech on the De- poSiteS.-We have, Mr. President, most wonderful Fnancer at the head of our Treas ury Department. He sits quietly by in the Cabinet. and witnesses the contest between his colleague and the President. Sees the con fict in the mind Ofthat colleague betv cen his personal attachment to the President, on the one hand, and his soiemn duty to the public on the other. Behols the triumph ofconsci- entious obligation. COntemplates the noble spectacle of an honest man, prcferrlng to sur render an exalted otfice with all its hOnors and emoluments, rather than brtray the interests of the people. Witnesses the insulting and | contemptuous expulsion ofthat colleague from office; and then. to"lly enters the vacated place, without the slightest sympathy or the 1 smallest emotion. He was installed on the 2Sd of September, and by the 26th. the brief period of three days, he discovers that the Government of the United States had been
 
 predecessors from Hamilton down including Gallatin (who, whatever said of him on a
 Gnrmer occasion, and that do not mean to I retract, possessed more practical knowledge of currency, banks, and fipance, thaD any man | I have ever met in the public cOuncils,) Dal- l las, and Crawford, had been mistaken, about both the expediency and constitntionality of the Bank that every Chief Magistrate. prior I to him whose patronage he enjoyed. had been l wrong; that Congress, the Supreme Court of | the United States, and the people ofthe Unit ed States, during the thirty seven years that they had acquiesced in recognized the u- tility of Bank, were all wrong. And. op- posing his single opinion to their united Judg- ment, he dismisses the Bank, scatters the public money, and undertakes to regulate and purify the public morals, the public press, and popular elections!
 If we examine the operations of this mod ern Turgot, in their financial bearing merely, we shall find still less for appreciation.
 l. He withdraws the public moneys. where, by his own deliberate admission, they were perfectly safe, with Bank ofthirty-five mill ions of capital, and ten millions of specie. and he places them at great hazard, with Banks of comparatively small capital and but little specie, of which ;he Metropolis Bank is an ex- ample. 2. He withdraws them from bank created by, and over which the Federal Government had ample control. and puts them in other Banks, created by different Governments, and over which it has no control.
 8. He withdraws them from Bank in which the American people, as stockhoidrr, were drawing their fair proportion ot interest accruipg on loans, of which those depOsites formed the basis, and puts them where the people of the United States draw no interest. 4. From Bank which has paid bonus of a million and a half, which the people of the United States may be now liable to reftnd, 1 and puts them in Banks which have paid to the American people no bonus.
 5. Depreciates the value of the stock in a Bank, where the General Government holds seven millions, and advances that of Banks'in whose stock it does not hold dollar. and whose aggregate capital does not probably much exceed that very seven millions. And finally,
 6. He dismisses Bank, whose paper circu- ates. on the greatest credit, throughout the Union, and in foreign countries, and engages in the public service Banks, whose paper has but limited and local circulation in their immediate vicinities."
 These are immediate and inevitable results. How much that large and long standing item of unavailable funds, annually reported to Congress, will he sweled and extended, re- ! mains to be developed by time.
 And now, Mr. President, what, under all these circumstances, is it our duty to do? Is there a Senator who can hesitate to affirm, in the language of the resolutions, that the Pres ident has assumed dangerous power over the Treasury of the United States, not grant ed to him by the Constitution and the laws, and that the reasons assigned for the act, by ] the Secretary ofthe Treasury, are insufficient and unsatisfactory!
 The eyes and the hopes of the American people are anxiously turned to Congress- They feel that they have been deceived and insulted-their confidence abused-ther in- ierest betrayed-and their liberties in danger. l They see rapid and alarming concentration of all power in one mans hands. They sec that, l ny the exercise ofthe positive authority ofthe Executive, and his negative power exerted over ConGi ess. the will of one man alone pre- vailss and goyerna. the Republic The- qnes- iion Is no longer hat laws will Congress pass, hut what will the Executive not veto 1? The President, and not Congress. is address ed for Legislative action. We have seen a COrporaiion. cha,g ged with the execution of great national work, dismiss an experienced, faithful, and Jealous President, aiterw ards testify to his ability by avoluntary resolution. l and reward his extraordinary services ny a large gratuity, and appoint in his place an Ex- | ecntiya cavnritr totally inc up cd and inc