Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1838-03-22
HERALD OF THE TIMES.

=. TnE Sun-TREAsuRY BILL.-If we may
rely. upon the authority Of the Baltimore
Chrohicle, this bill cannot, by any possibility,
pass either House Of Congress in its present
shape. 1t has been generally conceded that
there is a majority against it in the House,
and a correspondent of the Chronicle gives
the names Of &c Senators who are in favor of
the bill, and 2G against it; and one Of the
former, who has never committed himself on
the subject, will vote nay,to relieve the Vice
President from the fearful responsibility of
deciding this great question.
The following are the remarks by the edi
tors fthc National Intclligcncer, Oh the 18th.
"Wc would not lead our readers into the
indulgence OF expectations which may be
disappointed, but, from our impression of the
state of feeling and opinion provoiling in and
about the capitol yesterday we really enter
tain bellefthat the sub Treasury bill, which
has been so much debated in the Senate, is
not likely to become a law, without very ma
terial alterations.
The receiving and paying of the notes OF
speclepaying banks, in transactions with the
Treasury and officers of the Government,
has not only been defended in principle, and
on the ground of expedicncy, with such ad-
mirable clearness and force, but 1t has been
so manifcstly shown TO hevc had an early and
authentic origin, and ta{have been sustained
SO long and 80 generally by political men OF
all parties, that it seems little more than
captiousness, or the aflcctution of scruples,
to deny the constitutional power OF Congress
in this respect.
\ At the same time it has been shown, with
the clearness Of sunlight, that to collect and
disburse the revenues in gold and silver alone,
while the general currency is bank paper,
will withdraw large mass Of coin from any
useful agency whatever, win therefore weak
en- instead of Strengthening the currency, and
will annoy, harrass, and distress the general
business and commerce of the country in an
unbcarable degree, without the least utility
or benefit to Government.
II a conviction of the truth of these senti-
ments, we repeat, appears to us to have been
widely and deeply impressed; and we there
fore are, at present, of opinion that the Ad-
mlnlstratlon cannot carry, and we hope 1t
VIII not longer persevcrc in attempting to
carry, any bill which shall not recognise as
currency the notes Of specie paying banks.
H We must add to these suggestions, that
the conncXion between capital and labor, the
essential benefits OF that conncXion, and the
Importance OF credit as constituting it, have
been most ably explained and exhibited, and
SO explained and exhibited IN the speech of
distinguished Senator from Massachusetts
during Monday and Tuesday of this week,
as that even purity and prejudice cannot well
longer shut out the truth"
Mr.. WEBsTER's SPEECH.-Thc Washing
ton letter writers speak in terms of warm
communication of the last great effort of our
distinguished Senator on the Sub b-Troasury
Bill. The correspondent of The Journal of
Commerce writes that Mr.. Benton will con
clude his speech in favor of the bill to day.
and probably be followed by Mr.. Calhoun,
who, it is said, intends to reply 10 some points
of Mr.. Wcbster's speech, which bore per-
sonal aspect towards the South Carolina Sc
4nator. The followingj~ given, by the New
York Commercial, Us The closing remarks of
Mr.. W.
"The gentleman from South Carolina tells
us finally, that he will move off under the
state rights banner Move off sir? From
what? From whom? We have been acting
together, as have always believed cordially
-sincerely y-for the public good. Move off
from us? Sir, (exclamcd Mr.. Webster with
remarkable significance and carnestncss of
look and gesture,) LET HIM GO. ] remain
where | have always been. ! stand on
constitution broad enough to maintain the
liberty and happiness of my country. de-
sire, SO far as have any part in the admin
lstration oil this government, to administer 1t
IN Its true splrit-to administer it as if its H.
lustrious ira,ners were present, and overlook
ing my conduct-as If that eye of poster,y,
winch is hereafter to scan our performances.
were now in full gaze upon us. Standing
thus, between our ancestors and our poster-
ty-Detween those from whom we have re-
celved the constitution, and those to whom
we are to bequea,h t-teeling myself sacred
~ bound to act in its spirit, and feeling also,
(added Mr.. w. with peculiar solemnty, lay.
ing his hand on his hearty that if am born
Tor any good in my day and generation it is
the good of the whole people Of my country
standing OH this constitution, under no Sec
tlonal banner, with no sectional interests,
feelings or prejudices--no temporary expcdi-
ency--no sudden impulses shall move me from
my ground. These columns, these walls,
fly
From their firm base, as soon as II"
| am in the service of the Union, and the
whole Union. | shall not be active 10 take