Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-03-03

nef.
Is the fault in the Constitution itselfY Those
that be 20, that othes Administrations, in other
times, have been able to give the people abundant
satisfaction in relation to the currency. l sup
pose it will be said, in answer to this, that the
Constitution has been violated that it origin
ally misconstructed; that those who made it, did
not understand il; and that the sage and more en-
lIghtened politicians Of our times see deeper, and
judge more Justly Of the Constitution than Wash
ngton and Madison. Certain it is, that they
have more respect for their own sagacity, lhan
for all the wisdom Of others, and all the exper-
fence Of the country or else they find themselves,
by their party politics, and party commitments,
cut of from all ability of administering the Const
tuition according to former successful practice.
Mr.. President, when | contemplate the cnnd.
tion Of the country; when l behold this utter
breaking down Of the currency; this widespread
evil augment, among all the industrious classes;
this acknowledged inability of Cove eminent to pay
ITS debts, legally; this Prostration Of commerce
and manufactures: this shocking arrangement of
informal exchange, and the general crash ofcredit
All confidence and when see, thar three hum
dred Representatives Of the People are here as
sembled to consult the public exigency; and
that, regulating the wisdom Of our predecessors,
and rejecting all the lights of our experience,
nothing is proposed, for our adoption, to meet an
emergency Of this character, but the Bill before
SCcOcS
be some strange illusion. ] can hardly persuade
myself, that we are all in waking senses 1t
seems like a dream-likc some phantasy Of the
night, that the opening light Of the morning usu-
ally dispcs.
Their is so little Of apparent relation Of means
to ends the measure before us, as it appears to
me, as little promise, for the relief Of existing
wills; it is alien, outandish distracted, go
remote from the causes which press down all the
great public interests, that really find it difficult
to regard as real, what is thus around me. Sir,
some Of us strangely in error. The difference
between US is so wide; the views which we take
Of public affairs opposite; our opinions, both OF
the causes Of present evils, and their appropriate
remedies, totally unlike, that one side or the
other must be under the influence Of some strange
delusion. Time, and the public judgment, trust,
WILL later, dispense these mIsts, and the
men and measures will be in their true char
actcr. I think, indeed, that see already, some
lifting up Of the fog.
! The Honorable member from New York has
said that we have now, already existing, mode of
conducting the fiscal affairs Of the country, SUBJ
stantia'ly such that will be, which this ball will
establish. We may judge, therefore, he says, Of
the future by the present. Sub-Trcasury sys-
tenn, in fact, no contends, Is now in operation
and he hopes the country sees SO much good IN II,
as to be willing to make it permanent and pcrpet-
uai
The present system, he insists, must at least
he admitted not have INSTRUCTED or Impcded the
beneficial action of the Immense resources OF the
country. Sir, this seems to be a most extraordt
nary declaration. The operation and energy OF
the resources Of the country not INSTRUCTED! The
business Of the country not impeded!-Why, sir
this can only be true, upon the supposi,ion tina
present evils are attributable to the policy
of Gov crnmcnt; that they all spring from some
extrancous and independent cause. II the hon
Orablc member means tina: the disasters wnicf
bavc fallen upon us arises from causes winch gov
eminent cannot control, such as Overtrading, o
!. speculation, and that government is answerablt
for nothing, can understand him. though do no
ut all concur with him. But that the resources
Of the country are not. now, in u state OF grca
> depression and stagnation, is what had suppose
none would assert. Sir, what are the resource
Of the c"untry1 The frs; of all, doubtless, is la
bor. Docs this meet no impcdiment2 Does labo
find itself rewarded heretofore, by high prices
/, paid in good money? The whole mass of industry
I employed in commerce and manufactures, does
meet with no obstruction, or hIndrance, or DIS
enlargement? And commerce and manufactures
IN the aggregate embracing capital as well as la
Dor, are they, too, IN high career OF success
Is nothing Of impcdimcnt, or obstruction, foun
, connected with their present condition!
Again. Sir, among our American rcsources,fror
the very frs: origin Of this government, cred
; and confidence have held high and forcmos
rank. We owe more to credit, and to cOmmercIa
confidence, than any nation which ever existed
J, and ten times more than any nation except Eng
: land Credit and confidence have been the Int
: of our system, and powerfully productive cause
. Of all our prosperity. They arc essential part
i Of a system. which has covered the seas with on
: commerce, rcplcnished the Treasury, paid off tn
d national debt, excited and stimulated the man,
featuring industry, encouraged labor to put fort
the whole strength Of it's sinues, e cd the fores;
!; and multiplied our numbers, and augmented OF
G national wealth, SO far beyond all example, as
:. leave US a phenomenon for older nations to loo
IT with wonder. And this credit. and this conf
: dcncc. are they way INSTRUCTED. or impedee
. Are they now acting with their usual efhcienc
l. and their usual success. the concerns OF society
The Hon member refers to the Exchanges
u No doubt. Sir. the rate Of Foreign Exchange n;
c nothing in it alarming. Nor has II had. 1t our d
|, mestic concerns had been in a proper cond'tio
l. But that the internal exchanges are in heat
: full condition. az the Hon. member alleges.'s VII
u can bv no means admit. l look upon the q
s. rapgcment Of the internal Exchanges. as the pr
y else form, in which existing evils mus, man'fes
" " exhibit themselves. Why. Sir. look at the rate
between large cities. in the neighborl'ood OF ea
u other. Exchange between Boston and y. iof
y and also between Philadelphia and New York.
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