The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-04-24

exercise of the Executive power, the honorable gen.
eman and myself entertained the same opinions;
and in regard to subsequent transactions connected
with that and growing out OF II, there was mol, SO
far as know, any difference of sentiment between
us. We looked upon all these proceedings but as
so many efforts TO give to the Executive an unc0n-
thought we saw, everywhere, proofs ora design 10
extend Executive authority, not only IN derogal'on
or the inst mowers of Congress- but to the danger
of the public liberty we acted toselne 70 enGon
,hese designs and TO arrest the march OF Executive
nreropative and dominion. In all TINS, we were
Inn, co operans with many other gentlemen mere,
and with large and intelligent portion OF the whoie
county. roo,,;,,o ;,,or
farences with the currency had made an impression
on the public mind. A revolution seemed III PRO
gress, and the people were coming IN their srengn'
40 we began think, to support us anu our primer
pies. -. =. ,ho
In this state OF things, sir, we met here at Inc
commencement of the September session; but we
met not as we had done; we met, not as we haa part
ed The events Of May, the poiIcy VI the resi-
de nj in reference to those events, the doctrines OF
the message Of September the principles ana opHh-
ions which The honorable gentleman, Doih 10 my
surprise and 10 my infinite regret, came 'orwaiu
then to support, rendered II quite mpoRsioie ,or us
to act together for a sing moment longer 10 ihe
leading doctrines of that massage, and to Inc polcy
which il recommended, felt, and still feel, deep
conscientious, and irreconciabie oppos,tion' Ahe
honorable gentleman supported, and sun supports,
constitutional power and duty, and on these momen-
tous questions oil national policy, separate. And
broad and ample is the space which divides us.
and so deep does the division ran, touching even
The very foundations of the Government that, con-
sidering the time of life 10 which we both have ar
rived il is not probable that are 10 meet again.
say this with unrigned and deep regret Believe
me- sir, would most gladly act with The honorable
gentleman. If he would but come back, now, 10
VIVA, consider his former principles and senti.
menis; if he would place himself on those ronsii-
lu,ional doctrines which he has sustained through
long series of years; and if, thus standing, he
would exert his acknowledged ability to restore The
prosperity of the country, aud put an END To Inc
mschiefs of reckless experiments and dangerous
innovaiion,-I would not only willingly act aotth
him. would act undor hun; l would follow him, l
would support him, L would back HIM, at every
step to the utmost of my power and ability. Such
is not 10 be our destiny. That destiny is, tina; we
here part: and all that further say is that he
carries with him the same feeling OF personal kind
ness on my part the same hearty goodwill which
have heretofore inspired me.
There'huve been three principal occasions, sir,
on which the honorable gentleman has express
ed his opinions upon the questions now under
discussion. They are, his speech of the 18Th
September, his published letter OF the 81 Novem-
her, and his leading speech at the present session.
These productions all marked with his char
acterisiic' ability; they ingenious, able, con-
densed, and striking. They deserve answer.
i
September, made reply ON the day OF its de-
livery; there other parts of il, however, which
require n more deliberate examination.
Mr. President, the honorable gentleman de-
clares in that speech, I" that he belongs to the
State Rights party; that that party, from the be-
ginning of the Government, has been opposed TO
II national hank unconstitutional, ine&pedient
and dangerous; that il has ever dreaded the I'M
ion Of the political and moneyed power, and the
cent raj nction 0f he Government n winch III
strongly tends; that The connexion of the Gov
eminent with the hanks, whether it be with
combination of State banks, with national
institution, will necessarily centraiiZe the action
of the system at the principal point of collection
and disbursement, and at which the mother bank,
or the head of The league of State banks, must
he located. From that point, the whole system
through the connection with the government,
will he enabled to control the exchange both at
home and abroad, and, with it, the commerce,
foreign and do nestle including exports and I'M
ports"
Now, sir, this connexon between Government
and the bank, to which he imputes such mis-
chievous consequences, he describes to be the
receiving and paying away their notes as cash
and the use of the public money, from the time
of the collection to the disbursement"
Sir, If / clearly comprehend the Honorable gen.
tleman, he means no more, after all, than this:
that, while the public revenues are collected, as
heretofore, through the banks, they VIII lie III
the banks between the time of collection and the
time of disbursement; that during that period,
they will be regarded as one part of the means
of business and Of discount possessed by the
banks: and that, as greater portion Of the rev.
enue is collected in large cities than in small
ones, these large cities will, of course, derive
greater benefit than the small ones from the de-
postes in the banks. In other words that, as
the importing merchants in great city pay more
III IN mt fhot fl,nSa in N ,aI
so they enjoy an advantage to be derived from
any use which the banks may make Of those
moneys, while on deposite with them Now, sir,
l would he very glad to know, supposing all this
to be true, what there is in it either unequal or
unjust? The benefit is exactly in proportion to
the amount ofbusiness, and to the sums paid. If
individuals in large cities enjoy the Incidental
use of more money, it is simply because they
pay more money. 1t is like the case of credit on
duty bonds. Whoever imports goods with the
benefit of giving bond for duties instead of maxi
ing present. payment, enjoys a certain benefit
and this benefit. in n direct is i'm DrODOr-