Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-21
Congress---2d scss
SPEECH OF MIR BENTON, or Missouri.
(Contiguci

ceSsiyr npOrtduOns oil foreign gooCs on c'euti , ran
in the price Of Cotton 4 importation OF wheat and
-four; ) Some unfortunate incidents OF local nature ;
Of which the death, by supposed suicide OF one oil The
bank presidents, may be considered as the prihcipa-
These the reasons and what becomes now. OF the
Philadelphia cry, echoed By politicians and suoai'ern
banks against The measures OF The Homnssra-
ton? Not measure Of the Administration mentioned
not one alluded to Not wOrd about line Treasury or
der not word abou; the veto o: the National bahH
charter word about the removal OF the oePos'Ies
from the Ban. Of te u $ not word about the specie
policy ni the A dss siraiIon Not ope word about any
ac, of the e1hept that distribution Gc os-
gu:scd Gcposte Laws, which was measure ~ on
rregs and .G, oil The Administration and The VOTE o.
the opponents ana nnt The friends o. The Administrator,
and which encountered liz only opposition IN me TANKS
Of those friends | opposed it, with some hall dozen
others: and among my grounds c. opposition one was,
that il would enCaDger tie opposite banks, especially
the New York CITY Gepose BANKS, thai IT ""'I fcni"
them 10 the alternative Of choosing between breaklng
their us,omers und being broken themselves. his
as I'm. origin of that actlhe work Of The Opposition
On this floor; aud md that very act |" ee tile
cause which is put at the head ni all the causes "'cn
led 70 the Suspension q; sPec" payments mus me
Administration Is ahsoISed truth has pe''o'le" It's
Office false accusation - rrbukeG ana sIencra-
Censure f, where i, is due and The authors Of the
mischief stand exposed il he Gnubleoperaan piha'ing
done hr mischief and then charged upon The heads
o. the innocent.
q
Emil CrpCress acis upon the currency. that IS The
phrase ana II comes from Ph;adepha; and the trans.
l,nn of il is that there sh'il be no resumption u"''i
Congress submits 10 Mr. BGdles bank, and recharlrrs
that institution IhisIs til anguag" rom rh'IaH1 ifn''
and the meaning of The l,nGuagr; but happily differ
on, voice issues from lle city ot New f".h, lie al
,h.ntc notification is Issued from The banks &" thai city.
pledginr themselves 10 resume o. III" l"'h Gay 81
Nav They declare iher ability 10 RESUME, and TO
cpIiuue specie pavi7ens and declare they have moth
Gam. ,Tyir Il
Inv far which they arcc there can he no notI"c-0nln
Which they ie!cabiy intimate there is danger fha"'i
nina Is distinctly unveiled as The stal q lh!s dlnget
Tn. Tcsum.nc bnks fear hosiili'y-DiLiBEthl +
ACTS OFHOSTiLlTY-lrom that quarter They Tear
nothing from the hostility, or folly, Or wickrcnpSs u THIS
Administrations They fear nothing from the Sub ira'
sufv bin The, fear w Btdi~ shank, and rolhlngrse
h, olnk III is coa:sdeEairs aad suoaiterns ihrF
mean 10 resume, aad Nh E!td!e means that they
shall M, Hsnce:0th two flags will o. seen. hoIS'ed
fr,, tynrre., cities The New YORK f1g viii have the
word RESUMPTION Inscribed upon II the ihiiad.l'
mia far will bear the inscription 81 NON RESU Mr.
1IOS. gad DESTRUCTION TO ALL RtSUMiH
RANKS Under the ore, or The other 81 the'r Two
a,gs all other banks ali citizens and each political par
viii be found arranged The whoIe country WI! d.
vide between them. and Ieniiaie "ii! be seen In
that great DIVISION ASSUME to assign no one u pace
e,va II TO each 10 find and 10 take his own position
OF political parties, far as Chiefs are c""cefnrc "e
can all see Tia, thelt places already taken ihe re
dcrol gentlemen are under the flag OF NON.EESuMP
TlON: the Republicans are under the Lay ol khSC Mf
TION, Nv best wishes attend this latter iag and, II
need be shall be ready 10 give 1t lit, and even 10
strain a point to help Il on 10 victory
hare ca:efulIy observed the conduct OF ne eading
banks IN the United Sta,es The New ioiH banks,
and the principal tePosie banks hal cause for Stop
uinp which no other pead or Gid plead annnunc
cd ha, cause not once but many times, on this floor;
nm, only durng the passage of the distribution law bu,
dnrinr the discussion Of those famous land bills. which
psssed this chamber, and one ot which ordered per
euptory distribution OF sxy-t"rr millions, By not only
taking ha, was the Treasury hut by reaching back.
and taking all The proceeds Of he a' sa!tS oI tsa pre-
cedinc then declared in my place, and that repeat
ody lint the banks, having lent tins money under our
irsilgaon If called upon 10 reimburse II ~ TINS manner
mus, be reduced to the alternative OF breaking their
customers or Of being broken themselves when tn
N4w York banks stopped. mad" great a!!o"inc tor
,bar,. bu, could not Justify others tor tie rapidly with
which they followed their example, and Sh' Jess can
nsfy them for their taFdlness IN following he example
Of the same banks in rrsuuing. Now Hdt IN " lorR
hanks have come forward TO redeem their obIga'Ions
and have shown that sansiby 10 their own honor, aud
that r.card for the puHc,ua performance ot lher! pro.
misses which once formed tie Prde ana glory Of the
ercb.n,s and the bankers character feel the deepest
anxiety for their success IN The grea contest "hcn Is 70
ensue. Their enemy Is cunning ana po"'i'"' one
md os wicked and inscriptions as II Is cunning and
sirpp Twelve wears ago, IN" president o! that bank
which now f0rbLs other banks t. esrifr declared IN
an official communication 10 III. Finance COMMITTEE ~
this body that there arerc 5Wi far Aaft b"nES rtd me
E,,k of Il, uuilsd Siaics c0utd not DESTROY bg an
,r,r,;oG cf its PUUER" Since that time !, has become
marc nowerul; and besides It's political strength ard us
,li,h Institutions and lis eShGuat.tss p!r" o rtsirrrc
lion notes, it is computed by IT'S friends to "i'!i
royer or one hundred and fifty millions 81 dollars! al
at the teck and nod Ut one s"glc man ,'' us %u''na
IAN directors are not thought OF TIE welding ct
his inmausr power. and It's fatal direction to The Ge*'
l,ucnn of the resufing banns presents tho prospect
If fearful conflict ahead. Many OF the local banks
will doubtless perish IN ~ many lndiVHHas VIII "e '"
L much mischief will be done TO the commerce and
tho bp.inrs of dlifsrru, places and all the dfsruc
lion that is accomplished wi! be charged upon some
~, If The Adnin;slra,ion-no matter what-!or what
o i r;vcu out from The Phiiadep h.a head il ncon
,inen,ly repeated By a.! the "bSrGuious followers un
rho .isnai 4. riyen 10 open upon some new cry
The ,n Of the exchanges. both foreign and domestic,
vas The mex, topic ofamentatIon which Mr. exa"'n,
cd He said that the short interval which mac elapsed
since the extra session had put an end TO one pfanc" e"
,hs braach Of the foreign exchanges
a. , session nothing but the iccharter Of the Eaora!
p,,L could turn the foreign exchanges IN our iaV"r.
yb;ch IN Nav, were ~ against Us. Gentlemen were
rI "a pos,Ive Of that, at The extra session. as lh'y
now are of the present total per'ition Of me country
g., :, ,hrce brief months and l"tt 10 the operations OF
o,rreYce foreign exchange has regulated itself ana
is now at or per cemt. nominal giving 'en! amer
rpce in ou, favor Of or per cent !! the congress
h,d WELDED 10 the camo got up il" the recha'ef ~ ie
S,inn,I Bank at the extra session, with what txnA
10, woo;d no, this chamber and he whole unnn, have
r,or, We should never have heard the last OF H. rs
!, is the word joregH exchange IS not even meh'o"ru
That branch OF the Iamentation mas ceased u Is "'r
Jomesfic exchanges which engross al concern -
The revival Of The great regulator is indsPensAo" 10
ef restoration To hear these gentlemen, Ii 'S"uid be
supposed that domestic exchanges were never GFrnHs
ed before; that during the existence OF lhe N't'oHa
p,rk A., nonered exchanges we're level, and equal ard
sH r throughout the Union Alas ha, human me,
1arv il so she,, and treacherous have in my hand.
Sra comparative statement Of domestic exchanges "a
The bank note department, for The glorious year 81
La. ,ho rdo,oi Administration was 10 The middle Of
i,s rern-when the Federal Bank vas III IT'S meridian
splendor-whpn the Senator from Kentucky, who now
mours The ruin Of all things (ir Clay vas IN the De-
pariment OF Satesnd when all the present orators OF
wee or woc orators as the may be, reo'ced IN me
en,rte f noYer hch lher party then possessed and
celebrated III. felicity Of on earth THIS coTPa1a
tive table is made up from the prices current OF fha
lie nd rits del OF The great re