Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-04-30
TWENTY.FIFTM CONGRESS.
SPEECH OF Mr.. CALHOUN. Tor S. c.
IL REPLY TO Mn. WEBSTER OK Mn. WRIGHT
Bill
SECOND SESSION.
tCoNCLupED.)

In REPLY Mr.. WEBSTER, oN Mn. " RIGHT :
BILL.
tcoNcLuprp)
shall next notice the reply he attempted to my
remarks at the late session And here, again, he
lected a sing lie argument, and to which his er
was not less nconclusve aud unsat stactory than
that which have just considered. Among other
objections to the union of the Government with the
banks, stated that 1t would tend to centrallze the
circulation and exchanges of the country; to sus-
tain which, ! showed that small portion of the
credit and circulation of the banks depended the
public deposltes, aud the iact that the Government
received and treated their notes as cash in its dues.
then showed that IL was that portion which prc-en-
nently gave control over the circulation and cX-
changes OF the country. In Illustration, asked If the
Governments when it first went into operation, had
select ted a merchant of New York, and entered into
a contract with him that he should have the free
of the public revenue from the time ii collected
ill il was dIsbursed, and that noting but ms promIs-
sorry notes. except gold and silver should be received
ia the public dues. whether it would not give him Il
great and decided control over the circulation and
exchanges OF the country, accompanied with a1van-
taees the port where he resided over all others
next asked whether the location OF Il Bank of the
United States the same place, with the same priv
leges, would not give equal control and advantages
Nav, much greater, as, III addition, 1t would con
centrate at the same place an immense amount
OF capital collected from every portion OF the
try.
Such was my argument which the Senator
months aitel it was delivered, undertakes
troveu but, must sny, for my LIE, could not
derstand his reasons He lost his usual elearness,
and became vague, aud obscure as any one must who
attempts to rciute what perfectly evident. To
escape from bis difficulty he, with his usual address.
conlounded what | had SAID another subject, with
another point, which he thought more easily an
s~ered and against winch he directed his attack.
He stated that | proposed a Government paper, aud
that my notion is that all the paper that cnculates
should be Government paper; and then insisted that 1t
would be the union OF the political and money power
and would do more To centraze the currency and
exchanges than the connection of the Government
with the banks.
Now, unfortunately for the Senator proposed
no such thing, and EXPRESSED Nd notion OF, the kihd
nor any thing like ii. lie may search every speech
have delivered this and the extra session and he
can find nothing Justify his assertion. To put this
beyond all dispute | will quote what did saw and
the only thing that ever dId, that could afford him
even a uretext for his assertions The extracts are
taken from my remarks at the session.
~ intend to propose nothing. Ii would be impos-
sble with great wei lit OF opposition, pass any
measure without the entire support OF the Admins
tra,ion; and if it were it ougn not to be attempted
when so much must depend on the mode of execu-
ton. The best that could be devised might
fail, and impose a heavy responsibility lis author,
unless it met with the heary APPRECIATION of those who
are 10 execute it. then intend merely 10 HroW out
suggestions. III order to excite the reflection OF u
lhers," &c.
Believing that there mig lit be sound and safe
paper currency founded on the credit OF the Govern
ment exclusively, was DESTROYS that those who are
responsible and have The powef should have ayaed
themselves OF the opportunity OF the temporary det-
tmthe Treasury, and OF the posponemeht OF the
fourth instalment intended to be del osltcd with the
States, to use them as the means OF aiordln9 CIR
culalon for The present retiet Of The country aud the
banks, during The process ofSeparattng them trom the
Government" &c.
Here IS not n word about DrODoSlnT: the
trary, lcXPress'y stated, propose nothing; that
but threw OUT suggestions Tor reflection. Instead OF
exc'uo'ng a., paper nom c'icu''on' susges'eu inc
use, lnot oil treasury notes as ne stated or any o.
'nef paper containing promise 70 pay Hto"ey) out
s'p'y one "h'ch Suou'u contain P'o'''se ~ oe re-
'cu IN me dues OF Government; ana 'h''' too'
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