Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1838-04-17
SECOND SPEECH OF
HON. DANIEL WEBSTER,
on THE SUB.TREASuRY BILL.
DrLIrrRrn MArcnI2. Is

OF the debate expressed, 10 general man
rer, my opposition 10 this bin, must iInd
an apology for again addressing the Senate,
IN the acknowledged importance of the
measure, the novelty Of lis character. and
the division Of opinion respecting it which
IS known TO cxis, in both Houses of Con-
Yress.
To be able in this state Of things, TO
give a prcpondctance 10 that side of the
question which embrace, is perhaps more
,hun ought to hope bu, do not feel that
! have done all which my duty demands
until make another effort.
The functions of tbs Government which,
IN time Of peace, most materially affect the
happiness Of the people. are those which
respect commerce and revenue. The bill
before US touches both these great interests
1t proposes 30 act directly on the revenue
and expenditure Of Government, and IT Is
expected TO act, also, Indirectly, on com
merce and currency while lis friends and
supporters altogether abstain from other
measures, deemed by great portion Of
Congress and Of the country, TO be lndspCn-
SADLY demanded by the present eXlgcncy.
We have arrived, Mr. President, towards
the close Of half century from the adop-
ton Of the constitution. During the pro-
gross Of these years, our population has IN
creased from three or four millions to thir-
teen OF fourteen millions our commerce,
from little or nothing 10 an export Of
hundred and ninety millions, and All import
of n hundred and twenty eight and Il half
millions, in the year 1886. Our mcrcan-
tile tonnage approaches near 10 two NIL
HOgs. We have revenue, and nn cSpcn-
diiurc of thirty millions year. The man
IL. attp
~ great importance, and, up TO the com
ncnccmcn, Of the arrangement Of the cur
rcncy, were in prosperous and growing
state The prudence of the fisheries has
become vast and the general production
of the labor and capital Of the country is IN.
creasinr, far beyond all example in other
countries or other times, aud has already
reached an amount which, to those who
have not Investigated the subject, would
seem incredible.
The commerce Of the United States, sir,
is spread over the globe. 1t pursucs It's
objects in all seas. and finds It's way into
every port which the laws OF trade do not
shut against lis approach. With all the dis
advantages of more costly materials, and OF
higher wages, and often IN despite of unc
dual and unfayorable commercial rcgua
ions of other States, the enterprise, vlgor
and economy which distinguish our naylea
ting interests, enable II TO show our flag, II
competition with the most favored and the
4 most skiliul, IN the various quarters OF tho
world In the mean time, inlC.nal ACTIVITY
3 does not lag OF loiter. New and usciu
= modes of intercourse and lIcliiucs 81 trans
portaiion are established, or are IN progress
q everywhere. Public works are projected
q and pushed forward, in o spliil which grasp
at hlph and vast oil icCts, with bold dcil
auce Of all expense. The aggregate yau
Of property OF the country IS augmented dai
iy A constant demand for ncN capita
exists, although a debt has already bee
contracted in Europe, for sums advanced {
States, corporations. md individuals, io
8 purposes connected with internal Improve
n ments which debt cannot now be less tha
s. hundred millions Of dollars -Spr1 adm
q over great extent, embracing different eli
mates. and with vast variety Of producls,w
n find an intensely excited spirit OF ndustr
8 and enterprise 10 peradc the whole cour
81 tn while lts external commerce, az ha'
alteady said, sweeps over all seas. We m
y connected with al commercial countre
and most Of all, with that which has esial
81 llshcd and sustained the most stupcndo'
system OF commerce and manufactures au
"a which collects and disburses an Incredib
amount Of annual revenue and which
q ses, 10 this end, and as means of ouren'
n and circulaiion,a mixed money OF metal az
paper.
n Such a mixed system, sir, has also pr
n yailei with US, from he beginning Go
and silver and convertible bank paper, b
always constituted our actual money. 4
people are used to this ystem. IL has hil
orto commanded il-ir confidence, and a
/ allied their expectations. We have had
III succession, two national banks each ioi
pelod of twenty years. Local or Sta
n Banks have at the same time, been IN O
FL erauon and no man Of intelligence or ca
Fl dor can deay thai, dUuhg these fort, yea
and with the operation u pa''onsl .