Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-11-11

EXTRACTS FROM THE ABLE SPEECH Il
OF Nh. wEBsTER, OF MASSACHUSETTS.
In the Senate, the Bill imposing additional
duties as repositories Of the public monies, on
certain officers Of iheovernmen,.
Mr.. President, when Ihcari Of the suspension |
of the banks, was by the side Of the Ohio, /
journey, IN the course Of which | had occasion,
frequently, to express my opinion this new state
OF things; and those who may have heard me, or |
noticed my remarks, will bear witness that con- t
stantiy expressed the opinion that had
commenced; that question Of principle, and n
question OF The highest Importance, had arisen,
would Immediately arise; that hereafter the dis !
pute would not be SO much about means ends; /
that the extent Of the constitutional obligation
of the Government would be controversies: in /
short, that the question, whether it was the duty
of Congress concern itself with the national
currency, must, inevitably become the leading to-
pic Of the times. So | thought whenever had
the pleasure of addressing my fellow citizens, and
SO feel and think now, said often these occa-
SONS, and say now, that II is a question which
the People, by the regular exercise Of their elcc
tive franchise, must decide. The subject is one
Of much permanent Importance, and public
men have become so much committed, on one side
or the other, that tho decision must as think be
made by the country. We see entire new
state OF things. We behold new and untried
principles Of administration advanced and adopt
ed. We witness avowed and bold rejection OF
the policy hitherto always prevailing The Gov
ernment has come, not to pause, but to a rcvolu-
tion 1t not only stops, but it starts back it aban
dons the course which it has been pursuing for
near fifty years, and 1t reproaches itself with hav
ing been acting all that time, beyond the limits of
its constitutional power.
1t was my second proposition, sir, that the Mes
sage, the bill, and the amendment, taken together
deny, in substance, that this government has any
power duty connected with the currency,
| the exchanges, beyond the mere regulation of
the coins
| And, sir, is this not true? We are to Judge Of
the Message by what il omits, well as by what
it proposes. Congress is called together in
great commercial crisis The whole business Of
the country arrested by a sudden disorder of the
currency. And what is proposed! Any thing
| to restore this currency? Any thing, with d.
rect Wow ofproducng the resumption Of payment
/ by the banks? Is q single measure offered. or
suggested, the main purposes of which is general
relief to the country? Not one. No, sir, not
one. The Administration confines its measures
to the Government; itself. 1t proposes loan, BY
means of Treasury notes, to make good the def
cheney In the revenue, and . proposes secure
vaults, and strong boxes, for the safe keeping Of
the public monies, and here its paternal care ends
Does the e. Message Ne propose to graPPle' in any
.hat tho. OWL affecting the currency, does
the Message, like that Of Mr.. Madison, in 1915
mend measures of adequate relief? No such
thing. 1t abstans from all general relief. L
looks out for the interest of the Government. a:
government and it looks no further. Sir, lie
me turn to the Message itself, to show that all 1T
!, rec concentrations, and indeed, all the objects il
g calling Congress together, are confined to thu
I narrow and exclusive purposes Of relieving tn
y wants Of Government.
J, The President says that the regulations estah
, lished by Congress for the depositc and safe-kecp
iuu Oft he hav HecO
n tive by the suspension Of payment by the banks
c and experimenting that the same cause would s
!, diminish the revenue that the receipts into tn
Treasury would not be sufficient to defray the eS
renses of the Government; and as questions wer
r also expected to arise respecting the October In
stalment Of the dcposite the States, and doub
l. ing whether Government would be able to pay il
t. creditors in specie, or its equivalent according
n law, he felt it to be his duty call Congress t.
h gether. They are all the reasons, and they a
al have exclusive regard to the Government itsel
e In the next place, let what measure
T. the Message recommends to Congress. In its ow
le language, The objects demanding its attention
t. are
Of ITO regulate, by law, the safe-kccping, tran
+ fer, and disbursement Of the public moneys: d.
m signate the funds to be reccved and paid by til
,e Government; to enable the Treasury to me-
is promptly every demand upon it, TO prescribe tt
,e terms Of indulgence, and the mode of settleme1
4. to be adopted, well in collecting from indivi
udiS the revenue tnat mas accrued. III
ce ing it from former repositories"
w These are all the objects recommended partic
re larly to the care of Congress and the enumer
III ton Of them is followed by general suggestie
I'd that Congress will adopt such measures ma
id promote the prosperity of the country.-Th
n whole enumeration, it is vious, is confined
"A the wants and convenience of the Gov eminent
n SELF
it. And now, sir, let US see what groun
alf it is that the Message refrains from recommen
re ing measures Of general relief. The Preside
says
h. at was not designed by the Constitution til
lrt the Government should assume the manageme
a. Of domestic or foreign exchange. II is indee
m. authorized to regulate, by law the commerce
he tween the States, and to provide general sta
he dard Of value or medium of exchange in gold a
n silver, but it is not its province to aid indivdu'
M in the transfer Of their funds, otherwise tn
he through the facilities afforded by the Post Off
Ir. Department. As justly might it be called on
m provide for the transportation Of their mercha
:. die"
ic- And again:
he III, therefore, refrain from suggesting to c.