The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-07-17

ey bill, not even allowing thIs pouy W sAP,oes u"
opinion till the popular branch had acted beware
then If those insidious approaches, OF these dsgu
of sefshness, of the cry OF no bank: III mere
to be bank, why authorize the issuing OF paper
at all? II is wholly unnecessary to Inc pperauonm
government. The duty on tea was small, too small
said the British contend about, but beneath ltlay
false and dangerous principle; an unJusllhsd as
sertion of power, principle capable OF vast exPah
sion, and fathers were too sagacous 10 be taken
in the craitily set, Let the people beware
of this measure. Let the patriotic stand together
shoulder to shoulder and resist the entertainments
of usurpers.
Sir, il is impossible, in an argument here, TO do
more than glance at this absorbing subject. have
occu pied more time than intended. aud yet have
lett many important things having, perhaps, a more
important bearing than some of those upon which
have touched, wholly unnoticed. cannot, how
ever, pass over without adverting briefly to the
declarations of the senators from North and South
Carolina, Messrs Brown and Calhoun. They con-
cur in the opinion that this measure Will be usefu
to the planting of slave interest The latter gem
teman assigns a reason that cotton is sold IN
hard money market and proceeds laid out In
market inflated with paper BY which, suppose
he means Great Britain and this country. Does
the senator really mean to assert, Speaking OF these
markets they have been, not as they are, since
our currency has been improved that we have
no specieO that ounce of silver, or any other
quantity, has been WORTH or is worth more In Eng
land than il is here? If he does, should be glad TO
see the proof of that proposition, 1t seems TO me
there can be no doubt that our paper has been as
good as silver ana gOluj ana our silver anu Soiu
have been valuable as those metals are IN Eng
land. | have not been aware of any difference
But If the senator has reflected moment on the
of trade, he will perceive his error In the
first place the planter instead Of selling in the for
eign markets, usually sell here; and if our market
is one ofinflated paper they sell and buy under
the stmuous ofinfation. But, sir. there is no mis-
terry in this trade Those who buy here are regula-
ted wholly by the English market, for that Is the
great controlling point, and give jus, what can be
afforded, and leave fair compensation for freight,
insurance, and interest: Now, sir, If the sena-
tor has ev known heard of an instance OF al.
lowance being made for difference in the value of
silver and gold because money is deprecated by
paper imitation, will thank him to inform the SEN
ate oft. think hazard nothing in saying that
practical men know such difference, and In bu-
sness, make no allowance for it, The consequence
is not what the senator ASSERTS that gold and silver
are deprecated by excess of paper here alone, but
our excess, ifit produces any effect, causes equal
depreciation in England and elsewhere. might
proceed and shew from the exchanges, that there Is
no foundation for his suppostion, but if am right
In my view of the trade, this proof Is enough
II, therefore, the supposed advantage rests on
that argument, II must be ideal The other gen
tleman gives distinct reason for his belief, but
trust both will revise these opinions before they
act upon this theory. am the more earnest they
should do IT, because they must know how inJuri-
Gus this is believed to be by the residue of
| the country.
They must know that trade and commerce can
not be carried on without the rdnary facilities
They cannot be ignorant OF the present state of
things. They must in 1t the disastrous effect
of the denial of the usual means Why, then,
force this oppressive, injurious measure upon us!
Are they willing to try new and bllghting expert
ments, because ii is possible they may operate less
fatally upon the planting interest than the rest OF
the country?
But, sir, the senator from South Carolina calls it
a siates.rght measure, measure, as suppose,
wholly southern and sectional in It's character, and,
! therefore, it ought to be supported by the south.
If be the purpose of the senator u plant his little
| ~ h,t,n ,f, hi bA hoo smoke he rni
of other interests OF the country, hope and believe
his followers will not be numerous.
| Can there be any possible advantage in cherish
ing interest at the sacrifice of the oher,? Can
| it strengthen or harmonze the union to pursue a
sectional policy, which, while ii may by possibility
be acceptable, and beneficial to one section,
produces discomfort and injury to others?
Sir, this policy which the senator thinks useful
TO the planting interest, but in which opinion have
no confidence denies to US circulation adapted to
the business we follow 1t puts the banking power
in the hands Of the president, who is, know, de-
voted to the planting interest, as the senator from
North Carolina has asserted; but let him, and all
others no aim at such advantages remember that
this interest, great powerful and Influential as it's,
may lose its preponderanCe il ii become thus sell
fish. The Senator's am aware, claim to be strict
constuonaliss cliugng to the letter, and repudla-
ting often times, what seems to be necessary infer
ences from language. They deny the right to
make internal improveme the right TO protect
manufactures; and the power to givesus currency
which will subserve the purpose OF business. They
oppose discrimn atoms IN trade in our favor and,
! as appears to me, whatever seems to favor the
agricultural, commercial, manufacturing, mechan
cal, and trading classes, and to give TO them such
scope as will invgorate and render them prosper
GUS hope it is not from sectional feeling, antp-
athies, selfshness that four rights and privileges
are thus narrowed down. and the constitution made
of little value to
l must be permitted to observe that the senator
from South Carolina has, on many occasions, taken
broader views Of constitutional duty and public
policy-even he find, can raise powers by implica-
ton.
When his resolution was lately under discussion
in the senate he commended that slavery in this dis
trct could not be abolished, not because there
any provisions in the deeds of cession inhibit-
ing such measure, for they are silent, but the
ground of an implied faith. He contends that it is
lair, from the character of the subject, to presume
that such must have been the understanding, and
the hands of the United States are, therefore. as
much tied by blighted faith if bound by an ex-
express covenant The senator, therefore, has no