Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-03-29
SPEECH OF WIZ. CLAY,
ON The SUB-TRtkSuRY ELL.
Delivered February 40. ISIS.

! in this Capitol and elsewhere; but never be-
fsre have risen IN delihersuSe body, un-
. der more oppressed issiiaes, OF with deeper
sense Of awful responsibility. Never before
have risen TO express my opinions upon any
! public measure, frsusht with such Tremendous
consequences TO the welfare aud prosperity OF
the country. and so perilous To the liberties Of
the People. ~ I solemuiy believe the bill ua-
DEF consideration will be. " you knew. siF,
wha; sieepless hours reflection upon IL has
Z cost me; &c you knew with what fcryor and
sincerity have implored Divine assistsnce TO
strengthen aud sustain me IA NV Uppo,AiOn ~
a. I should hsVe credit with YOU, atteast for
I the incerity Of my convictions, IL shall be
80 unfortunate as not. 10 have your concur
renee as 90 the dangerous character OF the
; measure. And . have thanked nv God that
be- has prolonged my lite until the present
Z time, Tn enable me TO exert myself ia the SER
vice Of my country, against o project Tor
,ranseeudinE in peruicious tendehcy any that
( I have eVorhad occasion 20 consider. I thank
him for the health Im permitted 10 enjoy;
\ thank biul Tor the soit and sweet repose which
( { experienced last night I thank him fog the
bright aud glorious sun which shines upon us
this day.
It is not my purpose. at this time. Mr. Pre-
sident, To 60 ~ large mo consideration OF
the causes which have led 10 ;he present ubst
DISASTROUS state O: public silaiFs. That dat,
Was performed by Others, aud myself, az the
extra session at Congress it.w as then clear
ly shown ihat At spI4ag lroui IAs iI.-adsissa
and unfortunate measures Of Executive adj
ministraiion- ] now will Content myself with
saying hat, on the ilh day of March, 1879,
AndIew Jackson. not by The blessing of God
was made President Of these Unified States ;
that the country then was cminentiy prosper
ot~; that rs currency was as sound and safe
as any that people we're ever blessed with;
that, Ia, Oushout tie wide extent Of this " hole
Union, II possessed i uHilorm value; aHd that
exchanges. were conducted with such regular
Iiy ard perfection, that funds could DC trans
united from one extremity Cf tho Uaion TO the
other, with the least possible risk or loss. 10
tllis encouraging condition Of the business 81
the cOuntry u tSmained for several wears, I'M
al after the war. waut0nly waged against the
late Bank Of the UAlied States, was complete
ly succe>-iuL BY the overthrow OF that Inyal-
liable institution. what our pTe,en. situation
j., Il Is as needless 10 describe a. IL j. painful
to contemplate. Fint felt in our grea: com
mefcill marts, distress and embarrassment
have penetrated into the interior. and ucs
pervsde almost the entire Union. u has be-
Justly remarked by one Of The soundest and
most practicakwriiers that have had ocra-
sion 10 consult, that "all commissions in she
circulation and commerce Of every country
must originate ia the operations of the Go.
, yernment. OF the mistaken views and CHROME.
Gus measures OF those possessing the power oI
influencing credit and circulation; for they are
: not otherwise susceptible OF CONFUSION, and
e left 10 themselves they will find their owr
level, and flow nearly ~ one uniform stream ;
Yes, Mr.. President we all have bat toe
melancholy consciousness of the unhappy
condition Of our country. We all too wei
IL a. ~ 4
y lees aud ImmOyable upon breakers, di-masied
U the surge beating over her venerable side 8
and The crew threatened with inst0nianeou
destruction. How came she there; Who wa
U the pilot al the helm when etc vas strand
ed The party IN power! The pilot wa
aided by Oh The science and skiil, by al N,
charts and Instruments Of such disimgui.hei
D uayigators ~ Washington, the Adamscs, JET
ferson, Madison, ard Monroe; and yet ho %.
y not, or could not. save Tie public vessel. 81,
u was placed IN her present miserable conI,
tioa by his bungliIg sayisation or By ht
c want Of skill ard judgment u IS impossible
D for him 10 escape from one or tue other hort
= of that dilemma. leave him at liberty {,
= choose between them.
3 shall cndeayor, Mr. President, IN Ga,
= course of the address am about making {,
= establish certain propositions, which beEey,
10 be incOBtestnbie, and, for the sake Of per
= spicuity, viii Stale Them seyerally 70 the Sc
: nate. ] shall contend
10 1t. That il was the deliberate purpose 40,
fixed design OF Use late Administration IL e.
tabiish q Government baDk-a Treasury bail
Ito be administered aud controlled by thr
Executive Department.
. ID That. with that view, AID 10 that end
IL was its aim aud Intention 10 overthrow ih
Whole banking system, existing 10 The 4
:, states when that Administration camo int'
81, power, beginning with the Bank of the Uuitet
q STATES. aud ending with the State hanks.
0 80 That the attack a5s irst confined, iron
considerations o. policy, 10 The Bank % o.,
y United states, bot, that after its ovctthfOo
b was accomplished, u vas thrn directed, 40,
d has since been continued, against ihc Stat
4 banks
r. ilh Tia, The present Authorization. %.
. ~ aoknow Judgments, omana:ing fcom th,
e highest aid most authentic source. has sue
ccedei 10 tie principles, plans, AMI policy, o
!. the preceding Administrator. and stands 80
J. lemniy pledged o. complete ard perfect them
y And, 9Th. That The bill uu5er considerable
% Is intended 90 execute thc pledge, by ctah
b fishing, upon The ruins % the late Back 81 tb
y United states and Tho state Danks. a GOycrn
. ment bank. 90 BE-. managed asd contr1iicd b.
y the Treasury DPpaHment, acting under CO.
y beHete, s0iemaiy believe ne truth x
every one ri fhese h.e propositions. Dr. o.
e support OF them, ! sL.H nst ftii ugdu an
j. ersiutous surmi-ea or vogue conjecture. bu
. upon proof, slear, positive, in1gnabie, afr
% dsmaHttTauFe. 70 establish ths hrsi f.ur.
y shall 1lducc evidence Of che highest r1ssi1i
g ruihsbicity.. or lacs admitted or undcun1'e
10 1ad flT reasonioE founded 90 hem. ADD O.
90 rle last, tie me1sife unttr ruusilefston
a think tbe testimony. intrinsic and cx'fin- "
r on witch 4 dsPchd. slamps syoai 40 doDDt
!, lfs true character as a fovcrnmeni gauk az
ousIf q csffy io tis mind offhe Senate bod
{ eonvictian which cnifrtsin. aud n which
feel PERFECTLY eonfdsat the whole county un
Share
o Ny frrt prs5otHion f., that a wa' fh
deliberate lpufposc .aqd Used design IS al
z l1ts AdnEtsirstlan 10 estabssh 3 Goycet
p hchf haska Tfsasgry hsnk Co be admin
y f'trti end controlled ty ftf Excessive ni
z pauufot 10 eai1ihh Hs trfih, ODE 6r.
: proof whi-h Z eGer IS the following oEtra,
q frow pfcsi3tnt iarksons AnuIll Ncssaso, g
. DeceB.bet, s-3
"Tho charter of.ihs Usrt e ne Urife
States pres in ls1e, ard iis stnrkHol3cr