The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-03-06

,os,Iy hope the Banks may be able TO accomplish
the object. But in ali TINS eliort, they ee' Nv n,
Cro,, Government, no succor from government hot
oven n kind word from government Ihey s1yt
nothing but Remuneration and abuse. lhey w9'N
alone and therefore the attainment OF 'ie emu -
the more difficult. They hope 10 reach that eng
only, or mainly by reduction and snrtaiiment. II
by these means, payment in specie can DC lesun,e
and maintained the result will prove the 81 No.
mcrcanIile classes The Bank of England dld nor
accomplish resumption by curiailmeni aioho' pnnS
had the direct aid of government. anu ,m' ~ nnr
of the United States, in iolo' aiu n d Of The then
now created United States Bank, and AL me Joun
tenance assistance, and friendly s9PPo'I' VIII nor
government could give them; Hhl'' 1 ,p"st thew
discourage the efforts Of tho Banks. t'use t,y
will succeed and that they will, at me oa'ios
practicable moment; but il is at the same .,io 10y
full conviction, that by another ana most
| 81 nubI;c nolicy the government HlSht hiost
materially ussist the Banks to bring about resuI"p
tion and that by government AID migno no
brought about with infinitely less OF puo''' A'o'"
| veniencc and individual distress .,.o
| For an easy resumption OF specie payments tneo
ia mainly wanting revival of trus the restoration
| Of confidence, and n harmonious actloi' petWeIn
country But instead Of efforts TO inspire trust, ana
create confidence, we see and hear nothins gu, ue
nuncia,ion; instead Of harmonious action we nave
nothing bat unrelenting hostility , ,o,c
Mr. President you and were in Congress III IoIo,
during the time Of the Suspension OF specie payments
by the Banks. What was the spirit OF the govern
ment NJ that timo, Sir Was II hoslie' acfliiloh,
ous belrerent towards the State Institutions I!
Did il look on them only to frown? Did II touch
them only 10 distress Did il put them all unoer
the scourge You know, sir, 1t wns far otherwise;
| You know that tho Secretary OF that Gay entered
into friendly correspondence with them, and assur-
ed them that he would second their efforts Tor re-
! sumption by all the means In ms power. 10y -
know sir that, in fact, he did render most esseIl5
aid And do you see, sir, any similar effort now
Do you behold IN the Bill before ne, anythln oil
the spirit, or the policy of Mr. Madison, on an &C.
cason very like the present! MT Madison was
of such subdued self-respcct, tha' ne was W.;
ling TO yield TO experience and to me OPINION OF MS
| country; a man, too, of 80 much wisdom ana uue
patriotism, that nothing was allowed 10 s'anu De
tween him, and his lear perception OF 'ne PUBIC nc
good Do YOU see, sir, anything OF the sprit-ol
the wisdom--of the mild and healing, ana restoring
policy of Mr. Madison, in this measure Anotner
| illusrious man, now numbered win 'he deau, "as
then with u.s. and acting an important part In
the councils Of the country. mean Mr Lowhoe :S;
a man not deficient in force and genius, but Sill
more distng uished for that large and comprehensive
view of things, when is more .Snn mare nosi
live talent-and for an impartial, well-baianceo
Judgment which kept him from prejudice ana error
and which gave great and JUST innuehce 10 al i
! opinions Do you see, sir anything OF tho spirit
the temper, the cool judgment, or the !ong.sIghtoc
policy OF MIR Lowndes, in all that is now before US
And Mr. Crawford, then al the head OF me Treas
ury arduously striving to restore the finances, tt
re-establish both public and private credit, and &c
place the currency once more upon Its sale ant
nroper foundation do you see, sir, the marks o
Mr. Crawford's hands in the measure now presented
) for appreciation =.
Mr. President, l have little to say of the subordi
nate provisions of this bill, of the Receivers Zen
era or of the dangerous power, given to the Secre
tary of investing the public money in State stock to-
| of his own selection My opposition to the bill, i
to the whole of IT, II is general, incorporating
decided l oppose all ats ends, objects, land purpo
ses oppose all its means, its Inventions, and 1t
contrivaAces / am opposed to the separation o
f Government and People I am opposed, now nnt
I at all times, TO exclusive metallic currency;
@ am opposed to the spirit in which the measure orig
mates and all and every ebulliton of that spirit
II soemnly declare, that in thus studying our owl
A safety and renouncins all cnre over the genera
. currency, wo are, in my opinion abandoning on
of the painest, and most important of our conStl
tutional duties If, sir, we were, at this moment
n at with powerful enemy, and If his fleets an
armies were now ravaging our shores, and II wer
proposed in Congress to take care of ourselves, Il
@ defend the Capitol, and abandon the country to II
fate il would be, certainly, more striking, NOR
G fragrant and daring, but in my judgment not NOR
clear and manifest dercliction OF duty, than we com
0 nit in this open and professed abandonment of GU
t constitutional power and constitutional duty, owe
h the great interest of the national currency. meal
10 maintain that constitutional power and that con
, stuonal duty, the last. II shall not be aoith IN
consent, that ancient policy shall be 0ccrtarne6
II shall not be IDiM my consent, that the country sha
G be plunged deeper and deeper into the unfathome
10 depths Of neuo ozpedients.
HshaU not be soith0ut ooice Of fro
% me- that ono great and important purpose for oohtc
this Government ,ods framed shall noaO be prOstratc
9, Congressional.