The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-03-06
Reported fo' the ". Y. Journal Of Commerce.
NEr WebSter's Speech


"Let the Government attend to its o,o, business
and let the People attend to theirs"
"Let the Government take care, that Il secures a
sound currency for ITS uSe and let 1t Ieaue all
the rest to the States and to the People,"
These ominous sentences, Mr. President have
been ringing in my ears, ever since they were ut
tered yesterday, by the member from New York,
Mr. Wright. Let the Government take care of
ITSELF and let the people take care of themselves
This is the whole principle and policy of the adj
ministration, at the present most critical moment,
and on this great and aIl-absorbing question of
the currency.
Sir, this is an i'll boding announcement. 1t has
nothing of consolation of solace, of hope in it.
1t will carry through all the classes ofcommerce
and business, nothing but more Encouragement,
and deeper fears. And yet it is but repetition.
It is only renewed exhibition of the same spir-
it, which was breathed by the Message, and the
Bill of the last session. of which this Bill !. also
full, and which has pervaGed all thc. rect..
dations; and all the measures ., Government
since May >. i confess that | am NOT, even
yet, so familiar With it, so accustomed to hear
SHcn sentiments avowed, as that they cease to
astohlsh me. l am either cropping in thick and
palpable darkness, myself, i'm the objects of the
Constitution, and the duties of Congress- under
~ or else these principles of public policy, thus
declared, are at war with our most positive and
urgent obligations. The Hon. gentleman made
o!.',er observations indicative of the general
tone of political feeling. Among his dozen top
Mcs of commentator of the bill before us, prom
iinent one was to shelter the Administrator, from
that shower of imputations. as he expressed the
idea, which would always beat upon it, as it beats
now, when disasters should happen to the cur
reucy. Indeed And why should the admins
tration, now or ever, be sheltered from the show
er? Is not currency subject over which the
power and duty of Government eXtend' is not
Government Justly responsible for it's condition?
Is it not of necessity wholly, and entirely, under
the control and regulation of political power? Is
it not matter, in regard to which, inc people
cannot, by any possibility protect themselves,
any more than their own individuals efforts, su-
persede the necessity of the exercise of Govern
ulent, of any other political power? Sir, the
Government is justly answerable for the disasters
of the currency, saving always those accidents,
(which at all times cannot be foreseen or provid-
ed against 1t is at least swerable for its own
neglect if it shall be guilty of it, in not eXercs-
ing all its constitutional authority for the correc
ton, and restoration of the currency. Why does
it retreat, from its own duty? Why does it seek,
not the laurols of victory, not the reputation, ev-
en-, of manly contest, but the poor honors of
studied and eager escape? Sir, it never can
cape. The common sense of all men pronounces,
that the Government Is and ought to be, and
must be- atswerable for the regulation of the cur
rency of the country; that it ought TO abide, and
must abide the peltings of this storm of impu-
aton, so long as it turns its back, upon this mo-
nentous question, and seeks to shelter itself in
the safes, and the vaults, the cells and the cuverns
of n Sub Treasury system But OF all Govern
ments that ever existed, the present Admnisira.
ton has least excuse for Withdrawing it's care
from the currency, or shrinking from its Just re-
sponsibility in regard to IT.
Its predecessors in whose footsteps it Processes
to tread, has interlerred, fatally interierred, with
that subject. That interference was, and has
been, the productive Of our disasters. Did
the Administration disclaim power over the cur
rency in 1888, when it removed the Deposites?
And what meant all its subsequent transactions,
all its professions and all its efforts for that bet
ter currency which it promised, fn truth it did
not hold itself responsible to the people of the
United States for good currency? From the
very fist year ofthe late administration to the
last, there hardly session, if there was Il
single session, in which this duty of Government
was not acknowledged, promises of high i'm
provement put forth, or loud claims of merit as
serted, or benefits already conferred. 1t protested
to erect the great temple of its glory on improve
ments of the currency. And, Sir, the better
currency which has been SO long promised, was
no, currency for the Government, but a cur
rency for the people. 1t was not for the use Of
revenue merely, but for the use of the whole
commerce, trade and business of the nation. And
now, when the whole industry, business, and la
Dor of the country, is harrassed, and distressed,
be the evils brought upon us by its own interfer-
, ence, Government talks with all possible GOODNESS
of the great advantage it will be to adopt a sys.
tenn which shall shield itself from thick falling
shower of imputations 1t disclaims, it renounces,
it abandons its dutes and then seeks an inglo-
rious shelter
We demand the better currency; we insist on
the fulfment of the high and fattering promises;
and surely there never was Government, Oh the
face of the earth, that could with less propriety,
resist the demands; yet, we see it seek refuge in
abcld, cold, and heartless denial of the colnpe-
tency of it's constitutional powers. 1t falls
back from its own undertakings, and fatty con-
tradcts its own pretensions. In my opinion, it
can find no refuge, where the public voice will
not reach it. There be no shelter, while
these times last, into which Government can re-
treat, and screen itself from the loud voice ofthe
country, calling upon it to come forth to fulfil its
promises, or at east,now these promises all bro
ken to perform its duties. The evils of dsordered
currency are evils which do not naturally correct
or cure themselves. Nor does chance, or good
luck, often relieve that community which is sui
ierlng under them. Whey require nolcal rem.