Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-06-07

notes IN specie.
But suppose the case in New York. Ought not
the collector 10 take the of specie paying banks
there majority of 10th HOUSES say they ought
10 be taken. Is not tho expression Of this opinion
by Congress imperative 7 Why should it not be
Again II the resolution ~ not Imperative To au-H
thorlHc the reception oi specie bills, how gen.
ilemcn contend that it is imperative. in prohibiting the
receipt o the rs'cs ol n0n-spcce paying banks 1t
must be either admonitory both Ways, imperative
both ways
But though he held this op n on. aud therefore
looked on tie Treasury Specie Creula as entire
" illegal, vel ~ the SEhATE had expressed decd
cd opinion b1t the resolution gefniSsiue, he did
not assert his resolution the unconstitutionahty
thr Specie Circular
Mr.. WEBSTER lhen proceeded 10 notice some of
the Suggestions which had been tlnown out rs 10
the prlclcal effect 81 the present measure. II had
been sad tlat the Secretary Ct the Treasury would
pefhtts apply TO the Customs tho anne rule he had
prescribed ion the Land Offices. We must take our
ehance asto that. II IN addition 10 the evils which
have followed lIomthe Treasury order ut July. 1s3G.
the administration will subject Tie country 10 all
those which would be produced by requiring specie
IN payment ion the customs, let II BIZ done We shall
see the result lie lMr. W did not apprehend
such course.
Il has also been suggested that the Secretary Will
mol dlsbuse the bank notes that my be reeelsed,
but make fnn on the hanks aud demand speele.--.
Tins Is ro>siblo But tins ID a matter of adm.nis-s
ttauou, tnd mleh occur under any law
An " lnsfiG s1d, very Justly, thai many OF tao
opinions, expressed here, resulted hem great ig-
notauec al the actual operation oil matleis. ecu
tlemcn surround themselves with. theoretical aud
ideal dlhcnliies, which those acquainted with tho
practical operation OF things do uol fnd The tians-
aetlous ol soeety, purchases aud saes, Sc. &c. 20
On, with an infinitely little use of specie. Specie
seldom called Tor cNocptto ADJUST balances between
city aud city j, or tlom one country 10 another,
ior the purpose OF restoring the condluon OF eAehan-
yea.
Mr. WEBSTER then referred to the accusalions
with which The supporters OF his proposition have
been assailed out Of doors, aud IN Congress, Tor
giving undue la,ors Ia banks. lie shaved how
strong contrast exhibited IN tie tome of the dis
tusslon IN Lilo.
Though the banks had suspended, here was then
hraid stern Irhukes, no stormy drguuCaiIons.
Ca the CONTRARY, the greatest disposition was mani-
tested every where, To give them and. The tenn
E." moHopoip' frequently used nnH -a-days, IN "A
tepoachmI manner, WAS not lhcn heard AT all. Mf.
tALuouS himself was mol backward III his cfufs To
gse these institutions encouragement aud support.
lie WIN, hut yesterday, voted to repeal the fesolu-
lon OF olG, mnpu. ed the clause about the leeeips
oi specie notrs. with the ticw rt serving the banks
lor the general benefit of The country. He went far
thot, and malc proposition To gntthrm dlrcei and
positive aud liz proposed an iaSue 4 t3ieca millions
NJ Ifcasafg Naifg, 10 be- teamed to If Bahk Of the
tHitcd Siate, ami 10 The STATE Hfhka, each d chieh
a1ipH iaif9a IN dc amount n enc haf n us caIiiai.
{See Nc, Register, Nos9, vol. TO- page 1927
The argument, IN those days, were all against do
ug any thug 10 nluie the banks. and in favor of CIV
my them substantial assistance. Not word WAS
SAID against the unconsu'onaly Of Mr. CAL
nouN's proposition, which was Withdrawn for other
reasons.
MI Wrns1rn concluded by earnestly urging
The adoption Of the resolution rs calculated 10 Sc
chr one good end. OAer things (said he) remain 10
be donci
Nj. Srn,v6r of n. Carolina, lindertoof to reply
10 Mr WEBSTER; with what success need not say.
| have often spoken oi his cabtc.
Then Mr.. GALuuuN took the floor; and made an
onset, olcnn,se. on Mr.. WfnsrrRs consistency dc
ng 50 crJcaHf .stem hlmseliD lie entirely
red in all Mr. WEBSTER said OF the joint Resolution
nflslG--iis history and its object, aud particularly
III the opinion that it was imPcrdtirc, aud not merely
ptruiSSirc Bu then he wondered thai Mr.. WEB-
srrH would be so inconsistent, abandon his pun
eples aud surrender To the Secretary discretion
to take specie or not, for the purpose. OF
gaining for his proposition the support of those who
Ihmh that the Executive did mot Transcend lis authof-
ny III issuing the specie order!
Mr.. CALnouN also went his old arguments
for the divorce, and gave his allies another
splrp Lecture about this refusal to 20 with HIM for
the repeal olthc resolution OF 1876, charging them,
in plan terms, with " timldiry aud yaeelation'
Alr. Wrnsr,n briefly but satisfactorily answered
the allegations OF Inconsistency with which Mr.. CAL-
norV, rs unsual, pointed his arguments. He re-
minded hat caprious Senator that there are two
OF persons who think differently To The legality OF
the circular while both agree that 1t ought 10 be
pcalcd Ills own opinion WAS known 10 be against
Inc cOnsiilulIonauy ofthe measure. He had done
all lac could 10 make that opinion prevail but il had
been over rued in both Houses. What was the
course to be pursued by practical man! Was
there any thing Inconsistent in going TO the accom-
p'i,lIment Ola common end along with those who
differed with him to the legality oil the oider, but
WHO are equally DESTROYS for its revocation! This
IS what Ma. WEBSTER did. But he abandoned
opinion--no principle.
Mr.. CALuoUN again returned 10 the charge. Mr..
WEBSTER, he said, had ever spoken of leaving such
important matters to executive discretion, exceed
ngly dangerous; yet he here abandons 10 the Secfela-
L, The discretion of collecting in specie or not.
THE Senator cannot escape from this !" exclaimed
Mr.. CALnouS, ninmphanlly.
Well, ! will Try reioincd Mr. WEBSTER.
" Let us see how the matter stands ! hold the law
10 be imperative. Both Houses of Congress regard
it rs merely permissve. think all such discre-
on exceedingly dangerous. | propose to limit the
discretion. That, sir, is the way to escape!'
After some further discussion, which will notice
To- morrow, the question taken and carried in
the affirmative. Ayes 80. Nays 9, as follows:
YEAS-Messrs. Bayard, Buchanan, Clay, Of
Ala. Clay. of Ky. Clayton, Davis Fulton, Grundy,
King, Lumpkin, Lyon, Mexican, Menck, Mouton,
Nicholas Norvell, PrentiSs, Preston Rnes, Robbins,
Robinson, Ruggles, Sewer, Smith, of Indiana,
Southland Spence. Swift. Tallmadge. Tipon, Trot-
ter, Wall, Webster, White, Williams, Young
"a.
NAYS-Messrs Allen, Benton, Brown, Calhoun,
| Hubbard. Morris, Niles, Smith, OF Conneccnt,
Suange-9
M. SrLas WIGHT again popGEp the question,
Ia the House of Representatives, the hill TO extend
the corporate existence of the banks OF this Disicl