Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1838-04-12
C o N CT U d { D I.

AND Wnat becomes OF the argument urged
by the Senator from South Carolina, and
tbs abolition resolutions offered by him al
an carly period Of the session, asserting
that the General Government is bound to
protect the domestic institutions of the
several States?
The substitute is not, think, what the
welfare of the country requires. 1t may
serve the purpose of good halfway
house. Its accommodations appear fam,
and, with the feelings of a wearied travel
err, one may be tempted to stop awhile and
refresh himself there. / shall vote for it
a. an amendment to the bill, because | be-
lieve it is the least of two evils, if it should,
indeed, inflict any evil; Or rather, because
! feel myself id the position of patient to
whom the physician presents in one hand
q cup Of arsenic, and in the other a cup OF
ptisan; reject TIE first, because Of the in
slant death with which it is charged;
take the latter, as being at the most, harm
less, and depend upon the vis mcdicatrir
natura. 1t would have been a great i'm
proyement. in my opinion. if the mode of
bringing about the resumption of specie
payments, contained in the substitute. were
reversed: that is to say, if, instead of fix
ing on the lst of July for resumption, it
had provided that the notes of certain
number of safe, sound, and unquestionable
banks to be selected, should be forthwith
received by the General Government, in
payment of all public dues and that if the
selected banks did not resume, by future
designated day, their notes should cease to
be taken. Several immediate effects
IL VI n u i
withdraw from the market as competitor
with the banks for specie, and they would
be left undisturbed to strengthen them
selves. And, 2ndly, confidence would be
restored by taking off the discredit and dis
countenance thrown upon all the banks by
the Government. And why should these
notes not be SO received They are as
good as Treasury notes, if not better.
They answer all the purposes OF the State
Governments and the people. They now
would buy as much as specie would have
commanded at the period of the suspension.
They could be discussed by the Govern
ment. And, finally, the measure would be
temporary.
But the true and only efficacious and per-
manent remedy solenly believe, is to be
found in a bank ofthe United States prop
erly organized and constituted. We are
told that such bank is fraught with ndes-
cribabe danger; and that the Government
must, in the sequel, get possession Of the
bank, or the bank of the Government. OPP
pose to them the issue of the memorable
contest, commenced by the late President
Of the United States, against the late
Bank Of the United States. The admins
tration Of that bank had been without seri-
GUS fault. 1t bad given no just offence to
the Government. towards which it had faith
fully performed every financial duty. I'm
der its able and enlightened president. it
had fulfilled every anticipation which had
been formed by those who created it;
President Jackson pronounced the edict
that il must fall. and it did fall, against the
wishes of an immense majority of the peo-
pie of the United States; and to the pref
udce Of the best interests of the whole
country. If an innocent unofending,
and highly beneficial institution could
be thusl easily destroyed by the power
Of one man, where would be the difficult