The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1837-10-03

resolution would not he construed as III All uio'0-
speclfIl to the speaker. If the Speaker APP
nointed the Committee it would bet must be
Ia hacked Committee. That was expected; IL
was required. But of packed committees he haa
already had enough-more than enough IN lne
black hole of this capitol To give the House an
idea, what these packed committees were capn-
bic of, he would state fact not hltllerto "'""e
public. -..,.a,,,,
| A committee ofinvestigation was appolntedDy
the last Congress, to inquire into executive anus
cs A Report was made by minority OF mat
committee; but not one aoord Of that report iGds
aOritten Jy any member ofthat mVo7ty or q mm
committee. The whole report was written ny an
Anti Masonic editor liallettl from Pos'on'
brought here by member fir ON Rhode Island,
he was happy to say not now memher-he mad
| been driven from the House, and he ought to be
driven from the country That editor was sec
retary ofthe Committee on salary of eight dol
lars day, feigned sick. But through pretend
ing to be sick, he was in fact employed IN max
| inc out the report. The minutes OF the commit
tee were coined to him daily, by Dutee ). Paoce
and .4bijah Mainland he made out the entire
Report AS first made out however 1t contained
lin addition 10 those now in ~ a string OF ii'sc-
hoods SO infamous and unbushing, that even
Dutee J. Pierce and Abijah Mann, were COM
peled TO strike them out. This report thus got
itp. written by that editor was CONTESTED III the
Globe and other executive prints, with the Report
of the minority of that committee, and set OH a.
gainst it Such were the doings, such the char
LNcter of your packed committees!
The discussion was here interrupted and on
motion of CanbreIcng, the House went INTO com
mittee OH the Deposc Kepeal Bill lehoW az
tempted to answer Bell
Underwood of Kentucky, obtained the iioor'
and proved from the very statements OF wood
bury and Calnbrelong that by selling Inc SIX
millions Of stock which we still own in the late
United States Bank, we shall have ample means
to meet all charges on the Treasury, lnciudlhg
the 4th instalment to the States Underwood
claims the money for the States as part, OF the
proceeds Of the public domain, to winch they
Friday, Sept. 90
In the SENATE, the sub-troasury bill was taken up,
and Talfn,adCe of New York proceed TO address inc
Senate. He is no orator, but he speaks with good
sense and evident sincerity. He said there We're
great number of reasons why he should receive me
Presidents recommendations IN his message, Win
eyery indulgence; and with every prejudice even,
considering the source whence they came. Dutuii
his Judgment was convinced, he could not consent
to the extraordinary sentiments which that message
contained; sentiments, in his opinion, oil the most
misc hiev Gus and dangerous nature.
The proposition ofthe President was not new
1t was brought forward three four years ago, by
member of the opposition but so odious was 1t,
that notwithstanding their very violent hostility to
the deposite bank system, the other alternative,
not even the opposition, with the exception OF u
very small number, ventured TO record their votes
of the administration. it was denounced in the most
unmeasured terms. And this same odlous,
dangerous system, is proposed by tho President
HIMSELF
re described the stoppage of specie payments:
which was described ~ Cvrtun gentlemen as the
failure of the banking systemfrst, to the furious
carried on, in different parts of the country, a.
gainst the State banks; many instances, by the
very persons who had been most active in propos-
ing these institutions practical substitute for a
. National Bank. This warfare undermined the
, confidence of the public,-that confidence upon
which the banking system essentially rests. Then
came the famous specie circular, which was a deca
ration in fact, that the government had no conf.
dence in the banks. The whole mercantile and
manufacturing interest looked to the resembling oi
that order great measure of relief So thought
, Congress almost unanimously, and voted its recnd
ment. That vote was defeated by the conduct oil
General Jackson on that occasion. But still hope
remained. 1t was fondly expected that the present
Executive would rescind or modify the order. He
had good reasons to entertain that hope, and he ex.
pressed 1t in New York. That hope was defeated
by the course which the Executive saw fit TO pur
sue Whether the expectations founded upon this
resentment were well grounded or not, makos little
difference. The public relied upon it; confidence
= depended upon it; and with regard TO business ano
: credit-opinion, confidence, is every thing.
y 1t was the destruction of public conf dence in thu
banks, by the operation Of these measures that pro
:. duced the suspension of specie payments. On thi
topic he dwet for some time, and urged good ma
ny considerations in support Of it; and he went in
/ ure; and justified them against the charge of ba
l. faith and fraud, which have been urged against
: them in different quarters.
e He then went on to argue, that if public conf
h dence be again extended to the banks the restora
l. ton of that confidence will produce restoratio
+. of specie payments.
N He stated that the State Depose Bill as it inall
p passed in the Senate, formed upon suggestion
i, made to him personally, by two of the Presiden,
y of the New York deposite banks The deposit
70 banks were satisfied that so large amount of pull
=, lie money in their hands, was a very dangerou
III thing and to get OF that danger, the State Depo
s. lite Bill was suggested by the very Deposite Bank
A. themselves.
s. He criticised with great severity and justice, til
method pursued by the Secretary of the Treasur
,e in distributing the surplus
or He next took up the 'divorce of Bank and State
- which he described a catch-phrase, got up
- cunning and designing politicians to deceive an
delude the people; but a thing of highly DANCE
. GUS nature, and necessary to be seriously and car
IL fully examined. 1t is in fact the most dangero,
s) proposition brought forward for long series
pit years. 1t strikes at the very foundation of o,
s. whole credit system 1t establishes one currenc
he for the government, and another for the people