The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-11-03
Remarks of Mr.. Clay,
IN the " States Senate, on The SUB-TREASURY
BILL. on tie 25,h September, 1887


torres 81 the public moneys, on certain officers vi
the General Government
Mr.. Clay rose and addressed the Senate upw sfds
OF three hours. We cannot undertake 10 report ell
that he said, exactly as il was said. We must con.
ient ourselves with exhibiting view Of his afgu.
men', employing generally tie language in which
II was expressed.
/ lie commenced by observing that, feeling an
anxious desire 10 some eifseiual plan present.
ed 10 correct The disorders ia the cufsney and 10
restore the prosperity Of the eo1ntry, he had avoid
cd pfecipitstlug himself into the debate now In
progress. tina, he might attentiyely examine eve
/ ~ remedy thai should be proposed, and Impartial
ly weigh evuty consideration urged IN its support
| No period had ever existed Ia this country in
which the future covered by darker, denser,
OF more inpsnelrsbe gloom. None, in whleh the
duts was 80 imperative. TO discard all passion and
prejudice, all pSfty ties. and previous bias, and
look exclusively TO the good Of our afflicted ooua.
( Try In one tosPeci, aud he t1uugh II a fortunate
one, our present difficulties ate dislinguishabie
tfom former domestic troubles and that is their
universaEty. They are felt, II is true, in differ
tnI degrees, bot they reach every section. every
State, every interest, almost every man ia the T.
n,on. All leei. see, hesI. knoa their existenee--
A. they do not array, like our fortuer divisions,
one portion Of the Coniedcraey against another, il
10 ~ bs hVped that common suterings may lead
10 common symPfthics and common councils, aud
that se SHALL al no distant d4y be able to STE a
clear way OF dvlverance II lhe present state OF
the country sere produced BY The ault Of the ,eo-
pic II il proceeded from their wasieiui exiraya.
gsnee and Their ihdulseaes OF reckless srift Of
ruinous speculation; Ii pubic measure. had no
sgsney whatever Ia bringing il about. II woulo
nevertheless be the dnty OF tia Government To "a.
CIT All Its cnergi and o employ I'll is legitimate
poNets r. devise siiicactpgs remedy. Bot j.
our present Jep'iabe condition has sprung lroua
ouE rulers u :, !. to te clearly traced - h,u aes
agd operate lAs, that duty becomes infinitely Bture
obligatory aud Government would be faIihiess 10
TIE highest AID most solemn Of human tnsl.
ssoal1 ], a4gleet 10 perform A. Aad is il uol tao
troe HAT the esIs pht1h surround " are 10 he a..
oliled 20 thuse wLo hsye had iAe egf.-usl IT our
paslte 4HaHsi
Ia si4ncing al the past. Continued AR 6. p7fl,-
iog ean be further tom Hy u'tatipn than u &.
cle angry feelings, Df 10 iad sgouads of repfoaeh.
IL Woald he far more cangoni+ 10 Us wishes that,
en- this oeeaNgop, nc shH. d forge, sh former un.
hspp3 disIst0as anu anitan iiies But in order 10
discover hes to get on, ii difficulties, aust
asertIasb, u AZ can. ha~ Ne cot iuio tatm
Ffor to dat ssfies of unfortunate measure.
shieh had ia ls ouJeot ihc overthrow of tbs
H4@k a TIE Juitdd St-tss and lhe GiscoHt,ausucr
X It, h.ca, =eHes nr 1he Government no paaple
ugau esFta eaet enIot 50 bgtttr oartpncF. a. had
eHthSnat& tstter ngai4ted tlau the people oi the
tUAed s'Afss Oar mOae'sFy sYstem appes red
70 hsSe st'z'acd gtfat perfection any thing
hua a rsa posssb.s reach. TITS couI blnst.oa ii
UaHta States aud laeat hsnks pre..ated true.
imsse u our system ct General AID Safe Govern.
gsais. and wot&yd quite sell. Not OtsEe si.h.
sp tins tnaatry had local aad 4 gt0g a cor.
fcuty G~Ff utiy snuad, bai ~ nA4ttfeF quarter Of
he siahe Au.efiean commerce had penetrated.
,htfa stso dtd the bliss Of he Bank 81 tic ln1ed
States egaiuaad uAhaoHssd tsedu snd confidence.
No~ az danger II ba.ihg hAta upon o. ~.
d sln,tegv o umt. tlis, mgdiaia--an isE6tttma.
b10 psfer eusreeey abch. b, The universal con.
sect = tbe commercial world, Is REGARDED rs the
auvst. llew las ttls favefsc eame uaon u Can
1t be saaattd that q il The result Of those INCA
sufts 20 wltisa have Adycfied When, Al the
stfy ulbaeot af adopting uent. the ,oty cutse-
gneuEss III havs bappsutd srse tofegald a. H.
eslI&ats. s. Il necessary q tta. Elsewhere ar
tGttt esu.t Nevv, WAs prediction more dis
uuetv made atttt was fuiasuisut more literal o.
'ttact
i.et ne suppose thai those measure. had Gnt been
adopted that tha Bank ~ The Ualteo Slates lad
been teChafIered that the public depssllrs had 81,
na4He8 undlssathed; aud tbat the treasury prdgt
hsN uttEf ISSUED u thefe iHt every reason la Ut
hsse ih4t shauld he uoN in IN enjoyment If
! sa3Ad currency; that lie ~ ig dsio.5tes @ooja
). taa sale and forthcoming, aud that the sus.
isf.t,a 81 speeis payments IA May last ~ou5d Bat
aa,s hspn~ued
The rtasldeue's Message sa.rts that the sus.
pensipn has proceeded from oset-teHau--avet-
trading Indulgence OF 8 sPitit 81 speculation
p,o5aet8 by lsus and other facilities | thiaa
THIS isa .iew OF ibo case entirely tca superficial.
/, 0uula ln gH.e ~ CORRECT and lJ-t, IA the h.
stance 81 Aeua ie, lefpstraioI b tbs discharge
~ 2 eaf, ~ sirge that The iesdeu ball, and no,
The man who ity. iltd tie piece, responsible
~ the uiQftrr. The tt0s tsqaifv be, bow caoe
inst excessive oy~t-tfsdtng, aud those extensive
hauk taclittts phteh Tie Message describes -
Mere thrt nei ilsc necessary aud immediate con,
- p4rrrr- ag the t,ihtuN OF tlle hank, and the
removal frnHi H. custody Of thu public depasics
Nua - uat iats proven BY the vast multiplication
- bsHks tbt increase at the line oil Their discounts
srd recommendation, prompted aud stimulated by
Sscsst,,y Ttuct. aud the great augmentation of
tneir alseulattau ~hiyh cusutd3
What occurred e. the State OF Kentucky In
g,tas qaeuee nj thy t. ct the re,ehar'er al the
ll4ot ii tbr taira States, illustrates It's effects
,l44oupb.ei At Iai5u, That aie had suffered
gre ~ - baHt+- Ii was Eenfnhy opposed to
It.. IA rsiatt.- tnrrt at them. i had found the
Il is q, t5a netA If the United Sates answering
III the par Hss. 81 81 sauud currency athoae aud
ehto ID. ana II U.S. perfectly eoniented with them.
Nth, = sos ot the veto, II hae but single bank,
NJ ntta capital nd circulation, Alter II, the
Stale t,iusia u, te engage 10 The banking system,
AID s.it cher,.atrr tapcs OF the creation OF