Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-08-01
POLITICAL.

NJ Webster reached Peoria III. on the - Il Mt.
and received with great cordlahy by nearly
the entire population of that thriving toAn. lie
was forced 10 decline their invitation 10 Public
Dinuer on account Of the little lime remaining i"'
The completion Of bis tour before the day appoint
ed for the meeting of Congress. Before setting
forward the following morning, however, 10 nd-
dressed the assembled multitude IN -peech of al
hour a. %e have published none al HE Western
speeches heretofore, VIC make room fur The more
important portion Of this, reported by The editor
of the Peoria Gazette ~. lo,kU.
Congress has power to declare and nuke
peace, and Ia regulate commerce. In the same
way that i. has power to do these things It has
authority to regulate the currency Of the country.
The general government is authorized to coin mon
cy yet IT is forbidden II il contcndcd, to rcgu-
late the currency +; it has power to ssIe bills OF
credit, ye, still is forbidden to establish national
bank. What will the doctrine set up by those
who deny the power Of congress to establish ma
tional bank lead ioH We saw lis operation IN tho
early history Of The country. and We have seen II
since. Dunng the revolutionary war and inmc-
dately following that event We had issues of con.
tinenal paper by the different states, two Of
which corresponded, but each possessed a different
value from the other and IT will be again.
There cannot be a case where the government has
power to regulate the commerce Of the country
without having pow CT also to regulate aud csrnb
iish The currency.
have had participation IN our national
legislation for HE last % years. The bret T.. :.
Bank was chartered in Gen. Washingtons admin
Istration. in 1901 Tor 30 years. aud expired IN
1911. Daring This period no bnnk suspended
specie payments, save perhaps here ana there one,
whose affairs we're grossly nismsnagcd. bill
I -. l.. I-I - 4
ing votes Of The respective officers Of the t~o hou
scs ofcongfcss. In 1872 the war with Great
Bd,arn followed snd oil the banks south Of New
England stopped specie payments at once, as thcy
have done now within The last siA weeks. Tin.
/ depreciation IN the currency Of the country cost
the government an immense cum 30 tie prosecution
Of The war. knew mau, who having claim a.
gaiu-t ihc ucasury. received payment M treasury
notes which be could only convert INTO trccie al o
discount Of % per cent. IN luis case, So IN Hll
others a. payment 10 the deprecated PAPER Of the
country, the government wu, The iuscr.
TIN. arrangement Of ihe currency Hnd the deg
traction a. private and public confidence, had at-
ls'aed su,h height go l-li JAat iie su1Jec again
-4a, Aelole cuustess i.fihe.r ra.cnn doIoerniiDn.
/ Vas then member oflte house Of Representa-
ti,e, ana @as appointed upon committee 90 cr.
se and propose measures oi relief. Tho result Of
o., deliberations vss Proposition To- rcehoner iie
Bank Of tne United States, vuch hoe cSW5co Jy
Limitation three Jcofs previously.
Gentlemen. ! uusl hefc mcuu0n uaino ~dleu
can only be- p'onuuuc,d Hlrt lhe pfolaunecst 'ea'
Grafton and respect. lee that Of one Of the fra
ncrs %: ite cunIt'u'iru, JAnrs Names. That
great aud good man bad been opposed to the bsna
/ sud sad ils cousiiiulHu..ry iA'o.,oda question
upon y hcA men nigh, wisely differ. D., bee cod
90 longer oppose The sentiment Of the Whole coun.
try. PDthc necessity loudly demanded q, sna ]
uon, ssid De. recommend 10 congress tie charter
of q na.lonsi bank. & bill ~ss accordingly INTRO
cuced IN 1916 AID became Law.
For my suPpou II naliousl back ihen. as ~sll
as ior my eoutiaped support 81, }ou haze beard
me called Ia tie eastern slsles sa4 IA Tie ~esisnd
cIen here Upon your n'ef aud ~ tie hovfsAing