Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-10-25
MIR. LAY

- ~ "ASSthA
We present below an extract from the speect
oil Mr.. Clay upon the sub treasury system, de,
livered ia the Senate on the 25ih Of September
and we ask for it, the especial, and careful atten.
ton Of our readers. 1t contains some of the oh.
%Jections Of that truly great man, to the plan foI
keeping the public revenues, lately brought for.
ward by the supporters of the administration
We are sorry for our inability to lay the whole
speech before our readers, for il is one of his no.
biest efforts, and will add another leaf to the I'M
dying chaplet that already adorns his brow
The inevitable results that must follow the adop.
tion Of the sub treasury system, are shown by
the hand Of a master, and so truly, and wildly.
are they depicted, that it would .eem impossible
10 doubt their correctness. In our next we shall
give the views Of Mr., Clay upon a national
Bank.
Is II practicable for the Federal Go
vcrnment 10 put down the State banks,
and to introduce an exclusive metallic
currency In the operations Of this
Government, we should ever bear in
mind that political power is distributed
between it and the States, and that,
whilst our duties are few ana clearly
defined, the great mass Of legislative
authority abides with the States. Their
backs exist without us, independent Of
US, and in spite of us. We have no
constitutional power or right to put
them down. Why, then, seek their
destruction, openly or secretly, direct.
iy or Indirectly, by ~discrediling their
issues, and by bankrupt laws, and bills
OF pains and penalties What are
these banks now 50 decried and d~enoun.
ced? lntruders, aliens, enemies that
have found their way into the bosom
OF our country against our will? Re-
duced 20 their elements, and the anal.
ysIs shows that they consist LIST. OF
stockholders; ID. debtors; and 81.
blll-holders and other creditors. In
some n Of these three relations. a
large majority of the People of the
United States stand. In making war
upon the banks, therefore, you wage
war upon the People OF the United
States. 1t is not a mere abstraction
that you would kick, and cuff, and
bankrupt and destroy, hut a sensitive.
generous, confding people, who are
~anXiously turning their eyes towards
you, and lmPloring relief. Every blow
that you infict upon the banks reaches
them. Press the banks, and you press
them.
True wisdom, it seems to me, re.
quIres that we should not seek after.
IT we could discover, u~nattainable alb.
stract perfection (; but should look TO
what is practicable in human affairs.
accommodate legislation to the
reversible condition ofthings. Since
the States and the People have their
banks and will have them, and since
we have no constitutional authority TO
put them down, our duty is 10 come TO
their relief when in embarrassment
and to exert all our legitimate powers
to sustain and enable them to perform.
IN the most beneficial manner, the our.
poses of their institution. We should
embank, not destroy, the fe%rliIizino
stream which sometimes threotens .1
inundation.
We are told that it is necessary 10
separate, divorce the Government from
the banks. Let us not be deluded by
sounds. Senators might as we'll talk
OF separating the Government from the
states or from the People, or from the
country. We are all-People-States
-unlon-banks, bound up and inter.
woven together, united in fortune and
destiny, and all, all entitled to the nro.
tGc'ln9 care of parental Government.
1ou may as well attempt to make the
IoVefhnent breathe a different air.
drink a different water, be lii and war;