Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-01-13

Of 10 oOl-
nous experiments upon the welfare of our conn-
trN' they were those who had brought The er.,r
try to the unfortunate p-cdcan,cnt in which :,
now vast II was n vain, tratless assemo, for
them TO attempt Ia shift the responsibility FINN
the quarter which at one time boosted OF its un-
dertaking the responsibility, 10 one which had
All along resisted and opposed the fatal schc,ucs
which had ended an such ruinous results
The gentleman from Illinois tells ~ aahere 10
specie IN Illinois, that peeps Of the inscrs,i-
COS 0. their siken purses. Yes. there NAV ho
specie there. and in Michigan and M,ssour; ,,o.
OUT now came II thercf Ii :herc Is any there il
Is hv The violent operation Of that specie circular
boldly issued without any concurrence Of tho
popular departments of the Govcrnment by ,ho
viii OF one single individual, whose fatal Admins
tration was as fatally supported By TIC honorable
gentlemen II IS a poor argument to say this bill
ought to pass because we oughksfo - rid Of this
Currency cur who does not wish sosst rid az III
Who would not wish for better currcncyY n re.
decmabie currency. such we had before the cx-
pertinent! But does il follow that because cyc.
ry body would prefer good to bad currency,
therei" re We are 10 have Mt alli lsit asccr-
tanned that when you remove this curreo6V YOU
will supply the district with any otherf Have
you taken measures To provide for the vacuum
which you create! Have YOU ascertained what
vii! supply this currency when you shall have re-.
moved II? Or DO YOU leave il 10 happy chanca
and accident for the People do tho best for
themselves that they can! put it TO the gen
tleman from Pennsylvania, (Mr. Buchansn,) said
Mr. Clay, IT he seriously expects to DO ablo to
keep specie IN circulation here when there il
nothing but paper elsewhere? As TO the banks.
Mr. Clay did not look them to establish n cur
rcncy; the power was III the Government, and
not IN The banks. II was in tho power Of tho
. Gov crnncat, by ,slabiish.ng good and well reg
uiatcd natona. bank give soundncss ut once 10
the currency ihroaghou, the whole Union; this
power had formerly been exercised, and we had
, fourished under such SYSTEM and again il was
me DUTY OF inc Government TO come to the help
: of the country. But, on tho contrary every
mcasurc Is resortcd to for tho purpose Of telling
the People thai, though they want such an ins,i.
: tuition; though they require and demand such an
$ institutions; though they have felt its benefits,
and wish again To ee restored to the benefits Of
v sound general currency ~ inc instrumentalitv
! Oh suc.. an institution, yet they shall no, have
h such an instituton! Who is thcro who doubts
o what was the meaning and what was the object
c OF the resolution forced through tho Senate last
70 session! 1t was intended to say to the People Of
II me United States. 'though want n national
J. bank; though you demand Que though Won think
y one necessary and beneficial; though YOU believe
J. there docs not exist any other possible remedy
J. tor the evils which affiict tho general 90.
s, rency, yet You shall not have onc."
Is As to the irredeenable paper issued nv IN.
Government, It (Mr. Clay obscrved) had fallen
is lower 'haa the paper Of any canal company: il
n was even at discount, when individual and 9TH
s. or paper Was at par; and yet the Government
$, comes here 10 innict penalties for passing tho
s. leaves a worse paper in circulation! Mr. G..
RS proie+scd himself tob greater friend bank
ing institutions than Mr. Buchanan him self osgks
OF to be- lie was far their friend that he did not
or think they ought to be crushed and DESTROYED
ks As to the Bank Conve and as to the re.ou.
at tons come IN from the Jersey Blues, it seemed
ne that those resolutions were not very agreeable C
nd certain gentlemen but, if they did hasten &c
on change their measures, they would find more
IN such pleasing communications coming in. b.
ch Is II a crime Tor the banks to consult At
IL iormcr SUSPENSION, IN lSIJ, they then met
convention, and consulted, and thea -
tie to their charge that they had bes11
In CRIME IN dcberating and consu9od
he then seen with pleasure that they consult
or such an object They then, as now, ate
Of not 70 give tho law; Congress then unds n
nd the cause of the country; Congress came thr,
he relief Of the People, and las il ought 10 dse We
passed the resolution Of 1916, re-estabfhe b,
SIS credit, aud establishing an institution ls4@ilo
ng the currency, by which VIC were relieved I'm
C. every difficulty, and sound, good solid and gen
ind cra currency, current every where, rcdeemabl<
pc at any time, was established throughout the I'm
ties ion-Such is the remedy which Congress eugh
pts TO adopt now-the only remedy left to the coun
ing try, and which now would produce the hap
raj Py effects which it did then; and he (Mr. G..
ex- hoped that, notwithstanding the resolutions for
ad- ced through the Senate by the Administrator
en- party, Congress would now, then, come tn.
or relief Of the country, and give what the Peop,
rics require and demand, VIZ: sound and wel-regu
ext lated institution, to save US from the deluge q
ong irresponsible institutions. As his vote in re
ous, spect to this bill, Mr.. c. did not a pinch
and snuff whether he voted for against II. Blu
ded he hoped that in kindness and in mercy, the dea
ion friends Of the Secretary would Withdraw their o.
ling position to the amendment; for, If it was not Z
res, dopted, that gentleman engaged largely i
the circulating deprecated paper in the District,
would be among the first who would be liable Z
the pains and penalties Of the bill, unless ihe gec
tiemen would show more mercy to him than the
nam seemed inclined to do the poorer classes Of a
rec People.
and Mr.. Buchanan explained that hzpe44isot INTEL
.hy to charge Mr.. Cay with abandoning has past.
alb knew he never fl,ached from assuming respons
pre- b'lity where ii attached to him, but he confessed
not when he saw such a beggariy account a emps
ruth boxes after such bloody batlc-thaf -, when
bout after the bill had met with much oppositsof
no, yet no one stayed TO vote against n-shcn, IL
NJ a. deed, he felt somewhat asto0ished. IL was N
,und the intention Of Mr. B. to canvass the importau
vote concerns Of the Government on the occasion
that this miserable little bill for this miserable kst
il. Dstrici he would, however, observe - reiatio
and TO the crisis Of 1915, that IL the Gosernsl
f.h.. (nn0ress1 which 6nrced fia knesfa =