The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-04-06
Speech of Var. Clay,
ON THE SUB TREASUR BILL.

f
lows have seen some public service, passed
through many troubled times, and often addressed
public assemblies, 10 this Capitol and elsewhere
but never before have risen in a delberative bo.
dy, under more oppressed feelings, or with a deep
er sense OF awful responsibility Never before
have risen 10 express my opinions upon any
public measure, fraught with such tremendous
consequences to the welfare and prosperity o. the
country, and perllous to the liberties OF the peo-
pie, az ! solemnly believe The bill under consider.
alton will be. If you knew. sir, what sleepless
hours rrtiec ion upon ii has cost me, if YOU knew
with what iefvor and sincerity have implored
DIVINE assistance 10 strengthen and sustain me in
my opposition 10 IT, should have credit with you.
at least for the sincerity of my convictions, it
should be so unfortunate not 10 have your con-
currence to the dangerous character of the mea.
sure. And | have thanked my God that he has
prtonged my life until the present time. TO en-.
able me TO exert ny self 10 the service of my eoun
Try, against project far transcending in perni-
cious tendency any that have ever had occasion
To consider | thank him for the health am per.
mi'ted to enjoy; ] thank him for the soft and
sweet repose which ! experienced last night; |
thank him Tor the bright and glorious sun which
shines upon this day.
II IL not my purpose, az this time, Mr. Presi.
dent, 10 90 at large into consideraii u of the
causes which have led 10 the present most disas.
irous state of public affairs. That duty vas per-
formed by Others and myself, at the extra session
Of Congress. II was then clearly shown that IL
sprung from The ill-advised and unfortunate inca.
sures OF executive administration. now IS IN con.
tent myself with saying that, on The 4,b da, Of
March, lS29, Andrew Jackson, DOT by The blessing
OF God, was made Pre-. idunt OF these Unted States:
that The country then was eminenty prosperous
that IFS currency sound and safe as any that
a people we're ever blessed with that Throughout
Tire alde extent Of this hole Union, II possessed
a uniform value and that exchanges were con.
dnct'd With such regularity ano perfection. that
FUNDS could be transmitted from one extremity oi
the Uuio TO the other th the least pos ible risk
~ isss In tins encouraging condition OF business
1T thr country. II remained fr several years, un-
vi alter the var, waniobiy wagcd against the late
Rahk al tho United Stsies, was completely sue.
ecssiu, by the ovefthrus OF that invaluable nsti-
tuition. Wins, our present situation il, IL is need.
less 10 describe Us j, is painful to contemplate
FIRST tcl IN our great commercIai marts, distress
and embarrassment have penetrated into the inte.
nor, and now pervadc almost the eatIre Union
Ii has been Justly remarked by one OF The sound
est and most practical writers that have hid oc.
casion to consult, that ~ COMMISSIONS in III, cir.
cualion and cnlniaCrcc OF every country must
rgnRle 10 the operations Of the Government, or
ia the mistaken views and erroneous measures ot
those possesslnl the power Of influencing credit
ard circulation; for they are not o,hsrWise sus
cpptbe oi CONFUSION, and If leo 70 themselves,
they will ind lher own level and flow nearly IN
ous uniform stream"
Yes, VI . President. VIC an have but Too melan.
choly consciousness Of the unhappy condition 0,
cur country. We al too well know, that our No
bic and gallant snip lies helpless and immoycablr
A "a.
her venerable sides, and the crew threatened with
instantaneous destruction How came she there
Who was the pilot when she was stranded? Th
party in power The pio, was aided b. all III,
science ard SKILL by all the charts and instruments
OF such distinguished navigai0rs as Washington.
the hdAmscs, Jefferson. Madison, and Monroe
aud yet be I'D not. or ceud not, save the publ,
vessel. She was placed in her present miserable
condition by hls bunglng navigation, or BY his
want q kill and Judgment | is impossible tor
him 10 escape from one or the other horn OF thai
dilemma. | leave bim at liberty TO choose be
tween them,
shall cndeavor, Mr President, in thr course o
the address | am about making 10 establish eel
tain proposli ms, which believe 10 be incoutes,l
bic aDd, tor the sake OF petsricui'y will state
them severally 10 the Senate shall contend
LIST That il was the deliberate purpose ard fiN.
Goyernmcn; banks Treasury oank-te be ad-
minisiered and controlled by the Executive DE-
pafimcut
% Tina, with view, and 10 that end, il wa,
it, aim and intention 10 overthrow the whole bank
ing system, as existing in the United States when
tina, administration came into power, beginning
with the Bank of the United States, and ending
with the State Banks.
3D. That the attack was first confined, from
considerations OF policy, TO the Back OF The United
States but that after its overthrow was accom-
plished it was then directed. and has since been
continued, against the State Banks.
iih. That the present administration, BY It's &C
know Judgments, smana,ing from the highest and
most authentic source, hos succeeded 10 the prin
ciples, plans, and policy, Of the preceding admin
slrnton, and stands solemnly pledged to complete !
and perfect them.
And, 5h That the hill under consideration is !
intended to execute the pledge, by establishing !
upon the ruins Of the late Bank Of the United
States. and the State banks, Government bank, /
TO be managed and controlled by the Treasury DE.
pattmont, acting under the commands o., the Pre- |
sidrnt Of the United States.
believe, solemnly believe, the truth OF every |
one Of these five propositions. In support nj them,
shall not rely upon any gratutons surmises or
vague conlecures, bat upon proofs, clear positive,
uodoniablt, and demonstratiye. To establish lhe |
first four | shall adduce evidence OF the highest |
possible authenticity. or facts admitted or unde |
nsble and fair reasoning founded on them, And
10 the last, the measure under consideration,
think the testimony, intrinsic and extrlnslc, on
which depend, stamps beyond all doubt its true
character, as Government bank, and ought 10
carry TO The mind of the Senate the conucil"n
which | entertain, and which feel perfectly con.
hden, the whole country will share.
l. Nv FIRST prouosi,ion is, that il was the delibe-
rate purpose and fixed design Of the late admins
tra,ion 10 establish Government bank-a Trea-