Southern telegraph. (Rodney, Miss.) 1834-1838, 1837-11-21


corporations were bound together by the
strongest ties of interest with an immense
aggregate of wealth, which furnished safe
security, &c. &c.
But (said Mr. II. who can tell but that, If
that gentleman could descend from the chair
and address the House on this bill now, he
would not also be found to have undergone
some change Of sentiment since the time
alluded to9 This would not be more surpris-
ing than that one ofthat gensleman's friends, |
also on that floor, should have changed
his views upon the same subject. In a |
debate upon resolution offered in 1885 to
that body by Mr.. Gamble, as to the best
mode Of keeping the public moneys,
Mr.. Cambreleng was reported in the Con- |
gressional debates to have uttered the opin- |
ion that the sub-treasury scheme would find
no friends there, and that it was proposition
too Odious and monstrous to be enter
tanned.
Mr. Cambreleng read, in answer 10 this
allusion, an extract from his own prepared
report of the speech adverted to, to the effect
that he had expressed the hope that the time
! would come when banks, as fiscal agents Of
the Government, could be dispensed with
| altogether.
Mr.. II. remarked that the gentleman had
roted against the scheme at the time; it was
reported, in the book of debates, before he
had had time to prepare carefully his own
report of the speech he had made, to have
said that such a proposition could find no
friends in that body. But still (said Mr.. H.
know that opinions often change, like the
gourd of Jonah, in single night.
| Mr.. III. here alluded to MIR Fosters eulo-
gy on the credit system, which he admitted
to be appropriate and deserved. And he
eloquently detailed the consequences of that
system to the prosperity of the State-the
springins up of the western cities almost at
the very sound of the woodlands axe-the
stretching out of long lines OF railroads, those
/ avenues of communication and social inter
course with the different parts of the coun-
i try. The North and East had made the
West, and the West had poured back her
gratitude in increasing contributions to the
wealth and prosperity of the States:-and
this was the working of the safety-fnnd sys-
tenn. 1t had worked well: and now, he
would ask, what was tho reverse In the
country? The President now says that
over-specuation is the cause of our present
troubles. The philosopher whose theory n
was that the earth rested on a tortoise, was
puzzled to find place for the tortoise
; And what was the true cause of this distress
, and embarrassment? Mr.. III. said it was
the war on the United States Bank by the
late Executive. The first germ of all that
, power which now Expresses us was the
Withdrawal of the deposites. That was the
! fountain whence all these bitter waters flow
ed. The hopes and wishes of the people
were involved in that institution. The boat
: was proceeding on its way IN swift bui
euuable course, when there had suddenly
ensued crash, which was the prelude toa
, bubbling cry of agony and despair from the
, passengers and crew. The baiance-wheel
; had been removed by the ignorance or the
!, wantonncss of the engineer.
Mr.. H. had never been the friend or the
enemy of the United States Bank; nor o
/, the local banks. He had not worshippee
Pompey, IN all his pride of power and place
. when armies had sprung up at the stamp o
his foot; nor had he ever bowed the knee
, to his great rival. Yet would he not with
hold from the latter the justice which he
should extend towards him; as
sin his mantle mudiing up his face,
q Even at the base of Pompey's statue,
!. Which all the while blood, great Cesar fell
| And now lies there,
v With none SO poor to do him reverence!"
vi After some discussion of the conduc
G pursued by the State deposite banks, which
r. he contended had, in the majority of iastan
Il cos been honorable and upright, he insisted
that i was inconsistent, for the friends o
ths Adm;nis, r,tion to decrv and dcstro,
: .ham Thev had. eaten of the fruit, ant