Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1837-01-05
Tsvessty-foursss CosaGress--slei sess.
SPEECH or Mr.. BENTON.


on TIE REsUISSiuN OF THE TREASURY ORDER.
In SenGte--.toa&Gy, DEC 10 1886.
The resolutions introduced by Mr.. Ewing, Of Ohio,
being at their second reading.
Mr. BESro% sld il WIS uIisu Il to oppose Joint
lutons at their second reading bat he had gwen Notice
OF his Intention ooprose this resouon no. Tor the pur
pose OF attempting 20 arrest lis but TO excite alien
lion and discussion, and to lay TIE foundation for
ton which he intended to nthc, uain2'y, send the
subject 10 Committee, and 10 make the duty Of that
committee to enquire into the operation and effects OF
the Treasury der propose - he rcc!nded and into the
conduct OF the banks which affected ~ be cr!urd by it,
This motion. and the scope aud details Of the enquiry,
viii! be brought forward in due LINE.
The resolution consists Of two clauses the FIRST clear,
the second ambiguous The RECESSION OF tire Treasury
order excluding paper from the land Offices tie OBJ
jact Of the first clause but the second was without spe
citcaon, and making a!lusion to the constitutional
currency, and imposing obi. atl"n on hc Secretary
OF the Treasury IL use or emPi"y ii, 1t seemed 10 him
that the Whole revenues OF the Government might br
made receivable in paper money. Funds is the word
used in the resolution, word winch had no place ID our
Constitution nor in our gsatipn, previous 10 the in-
position Of the paper system upon u.s. and which had no
definite or legal meaning IL is paper system phrase,
and, in the Irgon of that system is understood to
prehend ali sorts OF paper credits and securities aud all
sorts Of carrencies, which! be made available in the
payment OF debts in the support OF c:rG!; II 4
wreched phrase to Into legislation and ought To
be substituted by something Of clear and precise import
Gold and silver is The language Of our Constr uon, and
10 suprrsede them by the word "jHadS, is 10 Danish
to the inunda:ou of paper money.
In the observations which lie should make upon these
resolutions. MIR. 3. said lie should not c"inc himself
merely 10 the renarks of the Senator from Ohio, (hlr
EwingD but locking further back and all around and
having due regard 10 wha, had preceded this motion,
and which indssoubly connected with il. he should
treat the whole sect itappeurcd before him: and
it had been exhibited To the Public He had especially
in his eye u certain speech, delivered IN Kentucky N
September last and certain letter written III fhIladr
pha in November last Passages from each Of these
would DC referred TO at proper places; and paying Gue
attention 10 these sr;gngS-t aHd 10 all The Signs " hch
had been visible for months past in the political
diac, he could distinctly that two great objects were
proposed to he accomplished by the nsirumen,aty of
this Joint resolution: first, the condemnation OF pres
dent jackson for violation OF the Laws ana Constltu-
ton and The destruction of The prosperity of The couu-
try; and sec0ndv, the overthrow ct the Federal const-
tu,ional Currency ard tic imposition Of Tie paper I'M"
ney system Of the States spca The government an:
People of the Union.
In the first of these Objects the present movement is
twin brother to the famous resolution Of 1855 but with
out its badness for that resolution declared It's object
upon it's face while This eschews specification. and
insdiousy seeks Judgment Of Condemnation ~ lnier-
ence and argument. In .r second Of these cscls eve
~ body will recognise the great design OF Tie second
branch Of the lannon's resolution OF le3, which, III
the restoration of the cposes 20 the Bank Of The United
States clearly went TO thr establishment OF the paper
system and lis supremacy the Fedora! Government
The present movement, therefore is second edition OF
the old one but lame and npocnt affair compared TO
but miserable slarveIiug! For though the letter of the
President of the Bank OF Tie United States announced,
early in Noyebcr. that The meeting of Congress was the
time for the distress 10 become intense yet we are
two weeks deep IN the session. and no distress memorial
no distress dspuiation, distress committees, To tins
hour! Nothing in fact, in lint line. but tie distress
speech of the gentleman from Ohio (Ar E"ng;) SO
that the new panic of 1886 has eli the signs Of brlng
lean and slender otaI-a church coGse concrrh-
sort of dwarfsh mpish imitation of the gigantic spec
ire which stalkcd through the land in 1855.
That every thing might appear in lis proper order ana
every actor in this drama have his proper place, MT b
would now introduce passages from the speech aud letter
to which he had referred reservng other passages for
PRODUCTION in other stages Of the proceedings And first,
from the speech:
"Mr CLAY proceeded 10 speak Of the constant
WITH THE crREEScr, which mu,kca Tue conduct OF
this Administrations One rash, lawless, and crude cX-
pertinent succeeds another He considered the late
Treasury ORDER by which all payments Tor public lands
were TO be made in specie, with one exception, Tor
short duration, most i'll advised illegal, and pern'cous
measure In principle il was wrong IN practice 1t Viii
favor the very speculation which PROCESSES 10 suppress
The officer who ssusd il, as if conscious OF lis obnox
ions character shelters himself behind the Of the
President.
mBui the President and Secretary had right 10 pro-
,,,ir,te anv such order The law admits Of such
discrimination. IF the resolution OF the SUN Apt's,
1916 continued in operation, land the Administration on
the occasion Of the removal OF lee anu o '
nresent occasion, relies upon il II full rrce) 1t gave
The Secretary no such discretion as he has exercised
That resolution required and directed the Secretary OF
the Treasury 10 adopt such as he might deem
30 cause US soon rs may be- all duties taxes
debts or sans OF money, accru"g or becoming payable
to the United States 10 be collected and Pa's IN s ie
go.s.of the Bank of tie United States, as by law pro-
yJed and declared or in notes Of banks 'eeh are pqya
BE and uaid on demane, in scd legal currency Tie On.'
ted Sates This resolution was restrictive ana pfonos
tory non the Secretary only as ic the notes OF oahhs "
rsdsemabe in specie &. demand. AS to ell such notes.
he was forbidden 70 receive them from and after the gun
hs 1Is io' 1cI- A. N the not,s of banks which