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

The correspondent of the Baltimore Ameri-
can gives the following sketch Of Mr.. Rob
bins remarks on the Sub-Treasury bill, in
the Senate of the United States on Tuesday.
Mr.. Robbins of II. !. spoke for little more
than an hour with great force and interest,"
The manner Of Mr. RS speaking, however,
was SO bad, and his voice so weak, that ! can
hardly give you faint outline of his very
talented speech.
| The object of his remarks was intended to
show the effects Of the Sub.Treasury bill
upon the Banks and upon the People OF the
United States.
! The effect Of the bill, he averrcd, would be
TO lock up the great storchousc of national
enterprise and national industry. 1t would
destroy both the means and the mind Of the
country. 1t would bring upon the country
all the calamltles of foreign war, and when
the mind, and means, and country were de-
.stroyed, hope and consolation went with them.
What avails, said Mr.. Il. our vast extent of
territory when you take from her the means
whereby she lives? when, like The barbarian.
you trample her interest unto the dust of op-
preston.
1t will not do, continued Mr.. r. to affirm
that all this is declamatory language. Look
to that of the bill which demands, now partial
and ultimately exclusive payments Of specie
fot public dues. The effect of this part of
the bill was to withdraw specie from circula-
ton, and to hoard it. The government was
constantly demanding and constantly drawing
specie. The banks under such state Of
things would be compelled to curtail their
issues to trighttul and ruinous extent.
AS consequence of all this, every bank
note out would be returned to the Banks
Every man having such note would present
II and demand specie. The banks would be
run upon at all times to supply the demands
Iof the Government for specie The Bill
would be as dcath-warrant to the banking
institutions, and the effect of its practical
operation would be to bring about the, by
some, long wished for extinction Of all banks.
Private banking would then succeed public
banking, and base and irresponsible cur.
rency would then 60 abroad over the country.
Inc banks gave support or encouragement,
Mr. Robbins affirmed, to nine tenths of the
community. BY this war upon the banks
this attack upon the banks--and this extinc.
ton OF the banks, these nine parts of the
whole people were to be made the sufferers
from this bill.
Mr.. Robbins enlarged upon these topics
at some length, but his voice was too low to
admit Of being heard.
Mr. Robbins continued and further said
that the effect of the bill would be to un-
house your necl ancs-close your workshop 8
spread dcsolaton over the land. Upon the
great labor of the country, its effects would
be runous and desolating-carrying us back
to the dark ages of the old world.
1t was not long since, said Mr.. r. we were
upon the high road to prosperity. Peace and
lcontentmcnt rcigned throughout the land.-
The rivers did not find their way to the ocean
with more certainty than did we have the as
surance ofprospcriy under our frontier rocu.
lar, safe, uniform and constant advance. Our
motion was onward, and all were happy
The cry against Banks, Mr.. X. continued, is
that they WELD dangerous power. Who
created banks 1t was the creating power
that was to blame and not the banks-they
that gave the power were the dangerous
party, If there was danger.