Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1838-07-04
From the n. Y. Conrsercisi Advertiser.
THE GREAT QUESTION SETTLED!

Notwithstanding the confidence of the ad-
ministraton and its friends, both in and out
of Congress, the sub Treasury bill is defnnct
dead, past hope Of resuscitation. Ii was
killed out .right-doubly killed-frst, by de-
capitation in committee of the whole, AFTER
wnrd-ihe head Of the monster having been
restored to its loathsome trunk by tho prev-
Gus question--it was struck dead by the Her
cmlean blow Of a mniorIty-not Of the men,
bcrs present only, but of the whole House
The triumph il great-and it is u triumph Of
THE PEOPLE.
\ This project was the darling measure Of
the Executive and his court. 1t was the cap
stone of the il-shapcn financial edifce of
Jacksonisn. 1t was designed to be the
crowning act of Jackson's administration, for
the consurnmntion Of which his successor
stood pledged to walk in his footsteps. At
it's inception, in tho shape of the celebrated
specie circular, the mischief with which il
was fraught to the country, was not discover.
ed by n confiding people. But no sooner
was it in operation, than the evils which eve-
ry sound Gnancier had predicted began to be
felt. The business machinery Of the whole
nation to jar. The springs Of national indus
try lost their elasticity. A crash succeeded,
and the country lay PROSTATE as from para.
ysis.
Eighteen months of more intense suffering
than was ever before endured by this nation,
\ from tho prostratiOn OF its business opera
tions, and the bankruptcy of large classes of
its citizens, the consequence not Of their own
action, but from the action Of the government
have ensUed, during every day Of which
period it hos been rendered more and more
evident that the great cause Of this stipend
ous woe was to be found only in the wretch
ed financial policy Of the government. Still,
the Executive was deaf TO the cries Of tho
people for relief, and bent only on "follow-
ing in the footsteps" Those footsteps led
to the ub-Trcasury bill proposed at the Sep
tember session. But no sooner had its odious
features been held up TO the national gaze,
than universal cry was raised BY the nn'
bribed people against it.
Il True it is, that the army OF olfice-holders.
and their immediate dependents, held a di-
ferent language. And for good reason.-
Il Their salaries were unrcduced. Two cur
rencics had been created, by which the pre-
cious metals were grasped by the rapacious
collectors Of the revenue, to be disbmrsed a.
mone the precious chosen of the Executive,
II while RAGS AND LAMPBLAcK were left for the
H people. The specie received by the Office
holders was as much increased in value to
H lihem, as the paper in the hands Of the people
was deprecated. Hence they, too, were for
following in the footsteps"-bccause they
were paid for it.
II Not SO the people. The moro thcy view
II cd the features Of the sub b-1'reasury scheme
the more loathsome did it appear. The long
or it was in virtual operation, by means OF ar
H bitrary edicts from the executive palace, the
II more oppressive did il become. According
II ly, the extra session Of Congress was not
closed before in obedience TO the popular
sentence of condemnation, the representa-
lives Of the people were compelled to cross
the path Of The executive and reject the bill
nd the conduct Of those representatives, hat
been sanctioned by overwhelming majoritie'
in nearly every state in tho union, where the
\ question h,. been brought to the test OF the
ballot.b boxes.
Still, the Executive, true 10 his pledge t'
e follow 10 the footsteps" persevered IN tho
doubly condemned policy Of his predecessor
and the measure was renewed at the open
ing of the present session Of Congress. Al
II IL moreover to hear down upon the House
Representatives with augmented force, ai
though money bill il was first Introduce.
into an obsequious senate, and carried throug
|, by the force Of party discipline. And iron
, the day Of the passage of tho bill by n vena
lmaoriiy of the Senate, four months ago, I'M
Iiil Monday, the whole power Of the Govern
mcnt--all the influence, and the conccde
dcxterity OF the Executivc--bave been 'n re
onisition to accomplish tho infamous measure
The voice Of the pcoplc-thnt very populn
voice to which the Executive had been .