Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-06-19
NO. 40s


When. however, the resolution came 70
be acted on inthe Senate, some gan9lenati
in that body, acting on the opinion that
the measure might be misconstrued though
it betterto insert MI. Calhounss provision.
And it was inserted, on motion Of Mr..
Campbell, a Senator from Tennessee.
The House then concurred IN the jfoFi.
SION. The object, therefore, fMr. Web.
ster maintained wasto secure the refusal
of spurious paper, not to ordersths receipt
ofsPecie notes.
Mr.. w. then alluded to the practice of
certain Senators rising in their places and
quoting remarks Of his, in favor ofsthard
money"-@Specie Standard" &c: &C., as
if to impute some inconsistency to him:
He would be glad if some Of these Gen.
tlemen would point out a single specific
instance Of this inconsistency they talk
about in loose and general terms.
Il am nOaO' (said he) ''where was then.
! have always then and n0w-aeted on
the idea that, for common purposes, con:
VERT bic paper Is equivalent to speets:
Those with whom | acted and noR act,
were and are for the security Of the Specie
standard; and then, no more than 4oi0,
were we ever Of opinion that specie bills,
are any thing less than specie.--We we're
against irredeemable paper. But wecon:
sldered there was no manner of difference
between returning to specie pzJin9 notes,
and to specie Itself. Those who were most
for hard nuOney, were in favor OF using
specie notes as far more convenient; and
not less va luable than specie. There was
no difference of opinion about it. Indeed
no such question could rise. The COL
lectors received the notes as specie and
credited them:
What is there unconstitutional In this
proceeding! Nothing surely. Gentle.
men do not consider that their claim on
their own servants and agents is the same,
whether the collectors take specie or bad
notes. They do not keep two accounts.
All is placed to the credit IF Government,
as cash. While we have been receiving
twenty millions annually at the Custom
Houses, how much, is It Unsigned, has
been received, in either notes or specie?
The payment is not made IN that manner.
once in fifty times. Merchants checks,
transfers of bills, &c: are given for large
amounts
But even Ii bank notes should them.
selves come Into the Treasuly. isrs sf1,,,ld
yet be no difficulty. Such bilis are nio.is.,:
They are 50 in law. They are 50. f5r. all
common purposes; in bankfubilCt, Il isS9a.
cies, In almost every thing. This Is not
the case as regards Treasury Notes, Viz.
ginia land scrip; yet all ofthese are taken
In payment Of Government dues.
All these implications Of inconsistencies.
therefore, fall to the ground. Specie notes
were always, in the view of Mr. Webster.
money; and when he spoke of paper cur.
rency, he spoke Of PAPER not convertible
into gold-dnd silver, at the viii Of hold:
er.
As to the construction Of the resolution
ofl616, Mr.. Webster maintained that If
was designed to be, and is peTemptory and
conclusive on collectors to receive snecie
notes. The argument against them s: thai
man may come from 4 distance. with
notes certified to be ofspecie paving banks:
and it is asked, whether the collector ouObt
to take them, under sticR girsiimstanceq2
The answer to this is obvious enough:
The collector, dfcouiAe, is not bound ID
know that such a bank at distance Davs
Its notes In specie: 81
But suppose case In New York.
Ought not the collector to take the notes
of the specie paying banks there1 a nia.
jority of both houses say thew ought II h
taken. Is not expression Of opinidn by
Congress imPeratiYel Why should Il not
be? -. : -
Again: if the resolution s not inSnsr;;.
tive, to authorize the reception ttjif e6scis
bills, how can gentlemen c3uteud tltst 4 =
imperative, in prohibiting the rscsiDf Of t6e
notes of non specie paying banlLsi Itmiist
be either admdnitOry both ways; Or ifiOs:
rative both ways.
But though he held this opiniosg and
therefore looked on the Treasury SDscis
Circular, as entirely illegal, vet as the SE.
NATE had expressed decided ooi6io;n that
the resolution was PeT1liSSiUs, IS did not
assert IN his resolution the unconstittion:
atty Of The Specie Circular.
Mr.. Webster then proceeded "a netieR
some Of the suggestions which had Been
thrown out as to the practical effect 6ftbs
present measure. Il had been said that
the Secretary Of the Treasure would per.
haps apply to the Customs the ssifis riiIe
he had prescribed for the Land 0fices.
We must take our chance IS q that n
in addition to the efils which have I5lloVe3
from the Treasury order Of july le -
administration viii subject the country -
all those which would Be prodace6 81. =.
quiring specie ii payment fol sl ii-;o1.,u.
let It be done! We shall ZEE ,s Ilt.
He (Mr' ". ] did not appfshe1d s,ch 4
course. a e I7e
It has also been sudsessea thai Is &.
cretaFy viii not 0isbur ths .Df 49,.
that may Be received, but r,alze : mn -
the banks and demand specie. 9shis =
fpossible. Bat Il IS niatteF q afles;.;;-,,,,.
tion and might occur under si.y ls..
Mr. Webster said very =
Of the opinions, expressed hs-s.
from great ignorance of tie sclilsl s5s's.
ton Of matters. Gee6 round
themselves with theoretssI 81. a a 8.
culiies, which those acousi ilh ths
( tpractical operation of i6in nst Ana
The transactions Of soeiol, s,,icl t'
sales, &C. &c 90 on, 1I,l al inIn'
little use d Sec
ed for excspi g ba