Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-10-03
POLITICAL.
MR. cALllouNs OPINION

Reference having tccn made to Mr. Calhoun's
speech IN the Senate. March 3lsi ls3i ne find
on reference to our flee. the ioilo"ng among 9th
rr opinions advanced
Amer full survey Of the Whole subject zee
none csh Conjecture no means of ektucsung
tie country from ~, present danger and To arrest
us fst,hcf increase bot a bank the agency OF
which. IN come Form, ~ under some authority II
indispensable. The country has been brnughi
iu.n the ptcscnt diseased state of the currency by
banks and mu.t be eNfiosied by their agency
We most IN a word uEe The banks 10 unbauk The
banks 20 'hc extent ihei my be necessary {" re-
siotc safe ind sable currency Jnst a. we apply
snow to frozen limb ~ ordor 10 restore lie vital
iy md circulation. or hlld W burn to the flame
TO extract The inflammation. All must see that It
s impossible 10 suppress the banking system al
once. |, muei ccniinue Tor tame. ls greatest
enemies and the advocates of an exclusive sPcc.c
circulation, mns' make It patt Of their System to-
tolerate tho banks tor longer or shorter period.
70 suppress them al ruce would, If It we're posi-
hc, work grcater tetuluiiin-A greater chang"
in the relative condition Of the various olssres o!
the commcni,y. than would the conquest Of the
country by savage enemy. What then mus, b.
done ] answer rev and cafe sysiem must
grudu1lly grow up undct and replace the od-ln.
]
which We sometime, se", &C the wounded or die
cased part If living body, gradually superseded
! by the healing pruccss Of nature.
| How is lh,s TO be effected, How ia a bank 10
be used az the means of correcting the excess of
| the banking .ysemi Aud wha, bank is to be Sc
! lecied as The ugeR for efecting this saluiary
changed know. mid Mr. G.. that a diversity Of
opinion will be found Ia exist TO the agent 10
| be selected, aiming those who agree on every 9th
or point and who 10 particular, agree oil the ne
cessity Of using some bank as the means Of eilcc
! ting the object Intended one preftrring n simple
! echarer OF the existing Bank--anohcr he char
ter Of n new Bank &C the United States n third
new bank, engrate ed on the old, and to1rih The
/ use Of the State banks as the agent. wish,
! said Mr. &. to leave all these 20 open questions, 10
be carefully Surveyed and compared With each
other, calmly and dispasslonaicly, without P'oj'-
dice to party feeling; and That to be selected
which on he whole shah appear Ia be the best
the most safe the most efficient the most prompt
in applications and the leost liable 10 the conrllin
lionel objection 1t would. however, be wanting
in candout my part, not TO declare my mPresS
n ion is tina, new bank Of tho Lifted b'a'rs en-
yr,ned imam The Cd will DC found under oil the
cu...,stances Of The case TO combine the creates
advantages and 10 be liable to the fewest objec
TO be inconsistent with calm review Of the whole
ground, or TO proven, my yielding TO .he con,ic-
ton Of reason should the result Of such review
prove TINT any OTHER is preferable. Among il,
: peculiar recommendations may be ranked tie con
sideralon. that while 1t would atlnrd the means {"
prompt and efieciua application for mitigating
and fnoy removing the existing fr'ress, II wnul,
at the same time open to the Whole community
fair opportunity of participation in the advantage
of the institution be they @ha' they may
i This was delivered in the panic yenr wien the
Wing Senators. predicting all that hos happened
D denounced panic makr;s blr Calhoun
=, hroup bout the whole of his able speech, cunten
dcd for the cousliu,,onaltv Of II National Bark
lbs proposition fheh vas 10 rruew the u. =. Banl
d charter for twelve ycnrs. We w-h IT had hrr
. the good fortune oi tho cuuntrs heed hn, II
o 1884 We have not the least doubt that IN
i opinions are jus, as sound in lS37.-E1pre".