Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-04-05

serious attention Of ofCongrcss and the Public.
The distribution Of it among the different
parts of the Union, whilst it remains unap-
propriated BY law, is most material clrcum'
stance. No one can believe that, unless
some such scheme Us the Land bill is
adopted, there will be less sum constantly
on dcpositc, forsomc time to come, than the
present sum. Assuming it to be thirty
millions, the annual interest at six per cent:
upon it would be one million eight hundred
thousand dollars. Now, who oug to have
this interest? The Public, undoubtedly:
Who gets it! The deposite banks and
,her shareholders. And how is this thirty
millions distributed? In the State OF New
York, with about one-sevcnth ofthc Pepula.
ton of the United States, there is deposited
one. third ofthe whole sum ofthirty millions;
and in Kentucky, which, on a fai. division,
would be entitled to about a million and a
half, there is deposited only about $685..
900. In other States and sections thc
disproportions were equally striking.
He was aware Of what might be said.
He was aware that it might be alleged that
the deposites ofthe public money were made
where the collections were made. But
surely the incidental as well as the direct
advantages in the administration of this
Government arc worthy Of consideration.
The accidental circumstance of the place of
collection ought not 10 give to that place
peculiar advantages, TO the exclusion Of all
other parts of the Union. 1t was not so
when the Bank Of the United States was
the financial agent Of the Government!
Then, by means of its branches the benefit
of its being the depository Of the public
money was diffuscd throughout the Union ::
and the Government, as stockholdcr in it,
received fair proportion of the profits.
And the true remedy for the inequality which
he had stated would be found in the distribu-
ton proposed by the Land bill, and in
avoiding always the accumulation Of any
unnecessary surplus.
Mr.. Clay said that he had intended TO
call the attention of the Senate to this docu-
ment, in the course of the debate on the
Land bill, and for that purpose had directed
the preparation Of table. But as the
subject, unexpectedly to him, had been ad.
ver,ed to by the Senator from Massachu-
sets this morning, he felt it due to the ecca-
(.siop to make the-observationS which he had
submitted.
| Mr.. Calhoun said that, until he saw tbs
document, he had no conception Of the
great and imminent danger which awaited
us. No man now, however, could deny or
shut his eyes as to the cause Of it. Its
commencement took date some three or
folr years back; and its results had been
distinctly foreseen, by himself at least. The
disease is on us, and there is fearful
responsibility somewhere as TO its cause.
This is the point. Something must be done,
and done speedily. Delay till this session
has passed, and a wound will be inflicted on
our currency and our rcountry, from which
neither will recover. All who have any Of
| this worthless capital in their possession
will DC rushing TO invest 1t. in the public
lands. And shall we stand calmly by, and
permit this fraud? Shall this Senate enlist
on the side of spectators and swindlcrs !?
Sir, worse state of things is, we arc on
the eve Of a frightful political catastrophe
catastrophe which will terminate in nothing
but the government Of the strongest. He
understood these military slemes; they
were leading, by azapid and fiery process,
to absolute despotism. The Government
was no longer elective; it had become
hereditary. The dc;noralizing influence of
gold has been already exercised the age Of
steel is coming; and with steel will the
conflict close. Vain will be the efforts Of
patriotism, Of virtue, of cloqucnce, to
withstand the advances Of arbitrary power.
The great and durable interests Of society
will be destroyed, and Executive power
will rise over them, strong in the ruin of
every counteracting authority; strongest
in the possession of consolidated power.
Some honest and equitable manner Of
getting rid of this surplus revenue must be
devised. He put it to the gentleman from
New York, (Mr. WRIGHT,) whether fifteen
millions of money, belonging to the whole
country, ought to remain at the disposal Of
his particular constituents? viii he, as a
friend Of his country, permit this robbery?
lie was confident that the Senate would
not adjourn without applying some remedy.
Let all party feeling be put aside. Let
Senators consider themselves as citizens Of
the eonftderated States. sent here to lcgislate
for the whole Union. He felt under great
obligation TO the Senator from Massachu-
sets for the motion he had made. He
trusted it would prevail. Let the document
be printed, and take my word for it (said
Mr.. C.. it will be considered rs a phc.
nomenonin the eyes of all Europe.
The disease whichis spreading over the
whole body polite demands and should
receive o,r potice ot ,,e hro,l, ~, tb;e