Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1836-06-04

er4 1 RUO0 ~ N0AS~1D6Is''
sappeeh ~ SWS'. Cl0D, Of Ky.
ENATE, April q, ls3e-os the bill fss1
G.ari6sa;ss e lAs estt p-oossds Of the
ols ~ tbs Pebble Lands. &c.
NJ. CLAY rose to address the
s..ets n support Of the bill. He OBJ
s..red that more had been already
.rs,d With great ability in its support,
- 49, who had preceded him in de-
-. than was necessary TO convince
~ he most skeptical Of the great
t,,e6ts - be derived from it; and
~ n consulted the feelings both of
~ hody and Of himself. he should
heye rsnained silent, acquiescing in
.heahal been said in behalf Of this
800. But regarding it as one Of
,raae ~ unmixed public good, con-
Sewsn al its results to the benefit
"a. whole country, he could not
resseils it 70 sense Of duty to leave
- burthen Of the argument on his
fesds, able - they had shown them
eplves to be.
Il was possible that he might, on
- occasion, present some views to
~ Senate that were new, or that he
night have the power to exhibit those
aIsSady offered in new light, SO as
y induce q more favorable opinion
r what had not been sufficiently
esnsidered. 1t was for this purpose,
tIsre6ore, that he ventured to intrude
spon the time Of the Senate. His
friend from New Jersey who sat in
'front.' Of him, Mr.. Southard) had been
sproached-by tie Senator from New
York (Mr. Wright) with having en-
dcayored to create alarm in the pub
lie mind, and 10 destroy its confidence
N the circulation Of the country, at a
moment when it was essential that
he public property should be render
ed secure. The man who endeavor-
ed to disturb a just confidence deserv-
ed the highest degree Of reprobation;
but his fault was not greater than
that committed by him who endeav-
ored TO inspire a confidence where
confidence was not due. He put it
togentlemen, whether the sentinel al
his post was most culpable who con-
cealed the approach Of danger, or the
one who announced it when it was
not near. He would not charge the
Senator from New York with treach-
cry when he endeavored to impress
on the public mind the belief that all
wassafe and prosperous, as that Sem
aaOr had endeavored to do. Still, the
public treasure was not in such a
condition as warranted the Senator
in making such representations; and
if he could, he would inspire him with
one deep and constant apprehension
Of its security. His friend had also
been reproachcd, and with little JUS
tice, he thought, with having INDUCED
in party acrimony. This reproach
was altogether unmerited. His friend
had drawn a picture, a just picture,
Of the state Of the Treasury, and re-!
terred to the powers assumed over it
by the Executive. He did not say
that the powers assumed had been
abused by the President or by those
about hun-he trusted that it would
not be abused; but he thought that
all would agree with him that the
powers assumed were utterly at va
rance with the liberties Of free
country where a constitution and
laws prevailed. What was the state
Of the treasury According to the
returns Of the Secretary of the Trea-
sury, last brought in, there were up
wards Of forty millions Of public mo-
ney IN about thirty-four banks crea-
ted by the State authority, composed
Of money which still belonged to the
public, part of it being at the credit
o. ITS discussing officers. which with
The seven millions Of United States
Bank stock, made total sum Of about
iorty millions. The banks in which
these deposites had been made, had
IN amount Of specie of about eleven
millions Of dollars, and their total inn
mediate liabilities amounted to about
me sum Of ninety-three Millions
Ihis great sum was held by banks not
under the control oflaw. He regret
Ted that he had not time to examine
=, .ne report Of the Secretary of the
Treasury that came in that morning,
out he perceived that he commenced
" 2 defence aud in excuses which
ought not to be necessary on such an
occasion. This great sum might be
w1ndrawn in a moment, at the fiat Of