Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-22
Twenty-fifth Congress. I'D Scss.
In SENATE.
Saturday, Harch 10, 1885
SPEECH OF MR.. CALHOUN, Tor s. CO
IN SENATE

tice my leisure the reply OF the Senator from Ken.
lucky arlhest from (Mr. Clay to my remarks when
first addressed the Senate on the subject under
discussion.
On comparing with care the reply with the remarks
loss determine whether it is the most remarka.
Bile for its omissions missatenens Instead Of lea wing
hair in the head of my arguments the Senator
threatened TO use his not very dynied exprrssion he
has not even attempted Ia answer large, and the
least weighty portion and of that which he has, there
is not fairly stated, fairly answered speak H.
tcrally, and without exasgera,ion; would il be diff
cult establish to the letter what assert, if could
reconcile it myself the time Of the Senate
in establishing long series OF negative propositions in
which they could take but little interest," however i'm.
portant they may he regarded by the Senator and my
self To avoid idle consumption Of the time, pro.
nose to present few instances Of his Measurements,
from which the rest may be incrred and that may not
be suspected of having selected ihem shall take them
in the order in which they stand in his reply
The Senate will recoect, That when The Senator from
Virginia farlhcst from (hlr Rvcs) introduced his
substitute lie accompanied it with The remark, that it
was his first choice and the second choice Of those who
are allied with him this occasion. In noticing this
remark, stated that if might judge from appearances,
which could scarcely deceive one the Senator might
have said no, only the second, but under e1isng
cumStanceS it their first CHOICE and that despairing
of bank for the present. they would support his subsl
tute Assuming this inference 10 he correct stated
that the question was narrowed down. i'll lact to the bill
and substitute Of which the other must be select
ed. The Senator from Kentucky, in his reply omitted
all these qualifications and represented me making
the absolute assertion, that in the nature Of the case,
there other alternative but the bill tie su6sl
tute and then gravely pointed out two others; 10 do
thing or adopt National Bank, as if ! could possibly
be ignorant of what obvious After he had thus
replied not to what really said, but his missate.
of IT, il TO make compensation, he proceeded in
the same breath 10 confirm the truth Of what did say
by giving his support the substitute which he called
half way house, where he could spend pleasant
hours Nothing more easy than 10 win such victories
Having Inferred as has turned out to be the fact that
there other alternative at present but the bill and
substitute, next showed the embarrassment 10 which
the gentlemen opposite 10 me would be involved from
la wing four years ago, the question of The removal
Of the deposiies, denounced league Of State banks ST.
mar that proposed 10 be revived by the substitute
After enarging this point, remarked that if might
be permitted state my opinion the gentlemen had TAX
q unfortunate for themselves and The country
unfortunate for them, for let what would come they
would be responsible IL the bill was lost, theirs would
be the responsibility if The substitute carried,
them the responsibility would fall and if nothing
DONE they would be held responsible and unfortunate
for the country because il had prevented The decision Of
the question at the extra session. which could not have
failed TO put early termination TO the present
cia and pecuniary embarrassment This the Senator
in his reply, met by stating that had called on him and
his friends to follow my lead and thus regarding it, he
made the pretext of ilnalured personal remarks
which shall notice hereafter never dreamed Of max.
ing such CALL and what said cannot be tortured, by
the force of construction, TO bear meaning having the
least sembance 10 It.
After making tllese preliminary remarks, ! took up
the substitute and showed that it proposed to make
bargain with the banks then stated the particulars
and the conditions cf The proposed bargain that lis OBJ
ect enable the banks to pay their debts and for
that purpose il proposed 10 confer important privileges;
to give them the Of the public funds from The Time
of deposite 70 disbursement and iGbayR lir notes re-
asked if we had right 10 make such bargain: The
Senator leaving oul all these particulars represented
me as aging that the Government had right 10 make
bargain with the banks; and then undertakes 10 in
volve in Inconsistency, in supporting the BILL be-
cause il proposes to bargain with the banks for the
of their vaults as place Of safe keeping for the public
money; if there was possible analogy between The
two cases. Nothing is more easy than 10 reute The
most denonstrave argumentn this way. Drop an es.
senal part OF The premises, ana !he MOST rleslsuoe
conclusion, Of course, fails.
In the same summary and easy mode ol replying 10
nv arguments the Senator perverted my denial that the
Government had right receive bank notes as cash,
into the assertion that ii had TO receive any thing
bu, cash: and then with Inconsistency. be.
cause voted al the extra session. Tor the Dill auihorzng
the receipt Of Treasury notes in The dues oil the Govern
ment if any ever doubted that could receive It's
own paper securities in payment OF It's debts Such
are The missatemens Of The Senator taken in their
guar order they stand in his epy and they present
fair specimen Of what he chooses 10 consider an an.
swer 10 my argument. There is not one less unfairly
stated unfairly met than the instances have cited
The Senator presented two difficulties in reply to what
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which demands passing notice before dismiss this
part of the subject He objected frs that was contra
ry To the provision of the bill ITSELF which authorizes The
receipts Of the notes Of specie paying banks for limit
ed time To this objection, il will be necessary
10 advert the object of the provision By The proyi
sons of the joint resolution of 1876 the notes of specie.
pa ying banks made receivable in the dues OF The 90
yernmcnt and of course on the resumption OF specie
nayments bank notes would again be received by the
Government as heretofore without limitation as 10 me
unless some provision be adopted TO prevent il. In
word the Government though separated in fact oil pre-
sent from the banks is no, legally sePaated and the Oh
iect of the provision effect the separation well in
law as in fact This proposes to do by gradual re-
ocul of the Joint solution of 1876 in order to prevent
far as possible any injurious effects 10 the community or
the banks The Senator in making his OBJECTION over
looks the broad distinction between the doing and undo
;no of an unconstitutional act There
sutional acts that difficult if mt Impossible, 10 De
undone SUCH for instance the admission of Lous.
ana into the Union admitting il To be unconstitutional
which do not There are others winch cannot De undone
suddenly without wide spread distress and RUM such
the protective tariff, which, accordingly the conPro.
mise act allowed upwards of eight years for the gradual
repeal Such also is the case under consideration,
which, under the provisions OF the OIL would he effect
ed in seven years In all such hold it 10 be not
only clearly constitutional for Congress to make gra
dual repea but its duty TO do otherwise it would
be often impossible 10 get clear of an unconstitutional
act short of revolution His next objection was, that
the reasons which would make the rece pt u bank notes
unconstitutional would also make The China trade go.
which he represented absorbing large portion OF
the specie of the country There Is no analogy what
ever between the two The very object Of specie
is 10 carry on trade and it would be idle pit to
regulate The distribution and fuctuaton which result
from its operation. Experience proves that all attempts
of the kind must either prove aborve or mlschevous
In fact il NAV be laid down law, that the uni
rsrsa The demand for SPECIE and the less that demand
10 interrupted the more steady and uniform lis value
and the more perfectly, Of course, ii fus The great
of circulation for which ,t was ntsGsed There
hoy thought it 10 be the duty Of the Government TO
nTohib the expectation of specie to China on the very
qrpund which the Senator assumes, and am not GER
tain but that he himself has been in favor OF The inca
| sure. =.