Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-11-02
MIR. CLAY's Speech, :.
IN. THE. SENATE, =. =.
O.y TUE sEB-TRE.ssURt. BILL.

MONDAY, sEfr %, 1887.
.Iht. S<nais han;ag rss,.<d ne. consideration Of
the bill Imposing sadsionai dudes. ss dtpo,iiO-
'ries q the public moaeys. sos eerfain oGies,s Of
! TIE Csnsrai Goreroneni,
Mr.. CLAY rose aud addressed the Senate
!upw ards OF three hours. We cannot under-
take To regor, all that ne said, exactly n Il
4 was said we nust- content ourselves with
exhibiting view. Of his argument, employing
! seneraiiy the language in which ], was eA-
L 2ressed.-t.Nat. fsG = =.
i he commenced by. observing that feeling
IN anxious desire TO see some sfiectual plan
presented TO correct The disorders in the eur
rency. and restore.the prosperity Of the coud-
ny, he had avoided precipitsh nS himssiF inlo
the debate now. IN progress, that he might at
tentiseIy examine every remedy. thai Should
be proposed, and impartisllS weigh every con-
4 slderation urged in its support No period
! had ever existed in this country, inv hch. the
fixture wal coveted by a darker. den-er. or
J more imPenctrhhle glo9m.: None. in which
the duty WIS 50 imperative TO discard, all pas
sien and pre- jndice, oil part, ties, aud pre- vious
bias, and-look exclusively 10 the good of 'ou '
sm,cied country In one rsspect-and he
thought "a Fortunate oae-~our present. diff
stltiss, arc d,stingurshable fruu former do
pesiie troobiei, and thai is the ir universally.
Ths1 arc felt, u - TRUE. IN diffe rent degrees,
pui they reach every section. every stale,
every interest, elmosIevery man In the Unioti.
All feel, zee, hear, know their exjstence. As
ihey do pod array, like Out. former d divisions.
one portion Of tho Confsderaey against apo.
4 ;hor, u Is to-be. hoped ttat common ;ufIe rings
may lead 10 ebnmon sympathiS, ssd common
: coanseis, add that We shall; ~ no distant day.
he able 10 sec clear way of deitveTaRce. AZ
4 the present state oG the country we're produced
by The iAuh OF tho People; u it proceeded
from iheir WNs:efuI .exira taganee ard their
iodulgenee of "a reckless spirit Of ruinons
Speculation; Il pubhc measures had no sren-
Il ey whatever IN htinsing Il Abost,, ii would ne
Verthesss DO be duty VI Governinen, to exert
all ii' eherg's, and 20 smPloy all.its Legitimate
powers 70 devise an sfiicaeious remedy. But
!. oar pTessnt deplOrsb.- condition b as sprung
! from our rtiers; u Il q To- be clearly traced
: 10 their scts and op-SstiOa.. that duty become.
infinitely. more obligatory; and Government
~sovid be fAiihiess Go the highesi add most So
iemn-of human trusts shouid Il neglect 10 per-
iorm a. Apd b u not too true that the evil,
| which surround us Are 10 he .abscribed 20
.ieose'~Ao hPVc had ihe conduct. Of our public
Attain,
4 ,Iagiancirg st the past CONTINUED Mr.. q. !,
nothing oaB-be- further frsm nv intention than
Ia excite angry feelings. or to find grounds Of
reProach. il SouId be far more congeniai tn
my wishes that, on this occasion, we SheaLd
forget all forHser unhappy divisions and ami
moslties- But, ln order 20 discover how 10
get oui Of our difficulties, We must ascertain.
u we can, how we got.into them.
Prior TO that series. OF unfortunate measures
which had for lis. object the oyerihrow u the
4 bank OF the UoIted states, and the discontinue
ance oil Its hscal agency for The Government.
no People upon earth-ever enjoyed better
| cuFkaOnW nrh .I
than the People Of The United States. Our
monetary system appeared TO have attained a.
great perfection ss any thing human.csn pos
sihly reach. The combination OF -UuIted
1 States and Ideal banks presented true image
OF our system OF General and State Govern
meats, aud worked quite rs well. Not oalt
within The country had we a local and gener-
al currency perfectly sound, but in whatever
quarter % the globe American commerce had
penetrated, there also did the bills Of the
Bank OF the United States command ,unbounc...
ed crsjit and conhdenee. Nov We are IN
J danger Of having fixed upon US. indefinitely q.
10 Tune, that medium -Ah irTedeemabie papeT
currency, which, nv the universal copss ri q,
the eonmerciJ world. y regarded az IN. vor,,
nov has this reverse come upon uss st.an 4
be doubted that 10 is the result Of those mea.
! sures TO which have Sdteried. when az the
very moment Of 9dOpting them, the very con.
sequences which have happened were fore.
iod as inevitable, - " necessary to look else
where Tor their causes Never was prediction
more distinctly made; never was fulHimepl
more hiersi add enact
4 Let us suppose that those measure, had. NO,
oeen adopted; that the Bank Of the United
olaies had been reclsrtefed; that the public
lhePosheA had rcmaiRed undlsurbed; md fhS,
The treasury Order had never been 'fssucd ! !.
'here not every rfasOn 20 Believe that, ~
should DO noSs. ca me enjoyment Of sonDd
currency THAI the public deposfte- vould be
nov safe and forthcoming; and that the aus.
pension q specie payments 10 May last would
not have haPPenedf 80
7 The Presidents Message asserts that stbe
lsHPens'oo has proceeded ffom.over-i etion--
oTer-irading 1.-The indulgence Of spirit al
4 speculation produced hJ bank and other fseih-
lies. Ttbihk THIS .. view az the case eutj,s-
;. W superficial u would be- Quite as correct
pnd just IN ihe insianre Of bOnicide perpe-
ha'sd by the discharge OF q gun, 10 aIledve
l1hat,fSe leader bail, and not The man Who
( 'svelled tbe piece, Wa responsible for 1hs
mo'def. The true inquiry Is, bow esnbe N >,
sNrsSl'e ottT-ifsding ard those extensive
baik taednies ~ l6ch the Message dsscfibesj
Were theJ not Tire Necessary s6d immesisis
consequences of the otstihfow -oG the bat
I aid The removal irom 10 custody of the D.. l.
w dePo~ii ssl aud y DOT tbs JroNen by he
/ vast multiplication o. bsHks, the ,neresss ii
The line 81 iheir dsrGuHfs ard -aSeommods-
ions, prompted and Il ishBlfied ~ seofstsfv
Ianey, and the great aug neniaiion Of .iheir
! circulation sbiob ensued
What ecufred IN the state ~ Rentucks. in
leonssqnfDee - TIE veto 81 tie, rs-rbsrter 6f
'he Back ~ The Upisd states illustrate. gi.
ELECTS throughout ihs t.si5a That STATE b..
Nfifref greatly ~ sanks " .wss rener.Ilv
y oppp5ed n the re.sstabitshmetf of hem N
bad found ihe H9,es Of the Bank oG the United
states apssetinE Ell the purposes 81 = sound
I cnrrs0cy II home ADD abroad pnd Il vss Der
itciiy c0ntentsd uith them ~ tho rs,,..t
7 u The veto. q had BOT a single bank. of End-
ed cspiisi pod cfrculsfion Amer Il. ne STATE
relHciant 81 engage ~ tiis b1nking q, sien. aud
sifi eherishiug hopes ~ Ne ertaiisn ~
new Bark ofthe Unued STATES and hhdinz a.
,sh sHpoFsd % currency IN hank Notes
from adlseeni stsies. proreeded % esfabii.h
haeks - its own, phd since ne veto. sinee
1888 has incorporated for that single STATE
Bank caPiri o. ihs smouht 81 ter miilioos ~