The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-01-01

il be with our friends herei Would they 10. sncb
little restless and uneasy in regard to the other
an alliance But beg that gentlemen disturbed I
side Of the House may not be so much a's'a LIN Mr.
have mot the honor Of much acquaintance - mo.
Bddle If had il might be Of mueh s IL mon.
but perhaps YOU would not find him 90 'nue" a.d !.
ster after ALL so dreaded heretofore a Nina Of
.ooo 90 10 bed with Poypbemus, pu' ueies'e 49,
,an.,sr ami one Astounding very much IN 'hat Mhe
49, as.c;.Iy need year or two ago, TINS DAM
- Ia 10 be- nsolvent, and it was not known whe'nei
,hs nubIic money could be got from t. But we go'
~ bonds and these very bonds have proven INC
6rs, instruments of q mutual alliance.
And It is matter OF some qualification that ! nave
not at this time heard Nicholas Bldde abused ~ AL
by the other side of,he House and this evidence 10
my mind that all the inferences OF The senator from
Virginia are to be confirmed for when did day 60 ny
in which Nicholas Biddle the bank was subject
here that would not have aroused the thunder OF all
the Senatorsl Bidde and the Bank Bank and Bid
die was their cry; and now, when they are pre-
pairing for these new connexions Bidde likely to
cape without one word Of reproach
And in saving this would not reproach Mr. Bid
die This is the first letter which he has issued for
which he has not been here repoached and denounced
thought on the contrary, that Mr. Biddle was dstn-
gushed citizen, OF eminent abilities, OF unquesonable
patriotism, and in the great wreck OF the business oil the
country he right step fora ard and give his conn
sci. II is the right Of the humblesi Citizen and Mr.
Bdde in this has acted his part enlightened man.
and as a citizen he has done his duty. And If he has
not right to give his opinion when his life and energies
devoted to the subject Of finance, who has But
still, his opinions and Judgments to be the sole index
and evidence Of orthodoxyl No, sir although his
labors have thrown little light this subject, his four
reports have had very little effect.
But rose not TO debate, but to thank the Senator
from Virginia for his noble course He may rest for
that on the judgment Of the country, and he may be
assured that his speech and sentiments will lose nothing
by being contrasted with the party warfare which has
been carried shall vote for his resolutions al
though say again that do not know safer deposit
tory than that institution. The President has taken
for hun unusual step, Of which we had no expecta-
ton: no one could anticipate IT, But ! do not know
that he could make the public money safer where.
Mr.. Woodbury. had done all he could He had lee
tured Congress repeatedly. He sent hundred pages
or more 10 instruct Congress And then what did he
dol What could he do In circular letter out
by him, in consequence Of the great responsibility which
by our failure to do our DUTY had devolved the Ex
ecutve, he writes in his letter his deputies that the
President expects from them efforts corresponding to
the exgency, and that fail in the accuracy
Of his accounts in the prompness of his returns, and
in his forbearance TO the public funds for any pr
vate purpose and in the presen, condition Fittings il
any one one should be guilty Of departure from this
course it would be-what? "A cause Of much regret,
and notice would be taken of it.
Sir, said Mr.. @. this puts in mind OF case
which occurred in Boston In attack upon church,
ball went through the window OF citizen, and broke
he said shocking piece OF business. and those
ought 10 be taken up and talked to severely Mr..
Woodbury. proposed the kind OF severity 10 the
present condition Of things" And what that
dition The administration endeavoring to enforce
the Sub Treasury, and he says TO the Government Off
do your best and fobcar to the public money
and it, unfortunately you should it, will give my
attention to it. though it would be task. The
Of the public money is treated thing which,
unless for the present Of things would be very
culpable and in the "present state of things"
it to meet with criminal punishment but
attention And after the failure Of this sort of exhor
iaton, what do see! They fly to this monster Of
bank which they have been cursng for years. And
what could they do better? Officers Of the highest rank
in the collection Of the revenue shipping them
selves off to Europe with prncely fortunes therefore
do how they coulddo better than to this
monster, for we had better have monster than
hundred monsters But wish knew how far they
have gone, ard what the terms, that they may
show the country the sincerity. and character Of
their hostility for years and with all that hostility that
they may with what suddenness, with what inces-
| tuous haste. they are ready to post to an alliance
Mr. CALHOUN said With the greatest pleasure
will vote for these resolutions and | moreover
grateful to the Senator from Virginia for bringing them
forward am anxious to know the actual state of the
facts-to know what is the between the Co.
yernment and the bank in reality But, in the present
state Of the question, is premature Judge of the
Of the Secretary of the Treasury of the ad
mnistration. And the Senator from Virginia NAV rest
satisfied Of one fact that if the Secretary Of the Trea
sury has united himself to the bank beyond what the
law allows, he shall not receive my support. am
against all such connexon even when constituted by
law and much more am against what is not allowed by
the law And further. have never uttered a senti-
ment on Executive patronage any other point on
which have changed my opinion, and wished to be
Judged in my future conduct by what have done aud
avowed on past occasions. ,r
Mr. President the Senator from Virginia has stated
In his place that the bTreasury is abandoned by the
greater portion Of the country and by gentlemen here
with the exception Of small party But think he is
mistaken. | have seen no such evidence The recent
elections In all the States turned the connexion be-
tween the Government and the banks even with the
specie clause, and thoseelectons have gone mudh to
my satisfaction, and they must prove fatal to the con-
nexion between the Government and the banks
The gentleman also supposes that the recent defalca
tons will do much to destroy the subTreasury But
they do not touch the subject They belong wholly to
the old system Of connexion between the Government
and banks. When did the defacaton of the collector
at New York occur! II commenced in $780, and ask
the Senator if dealcatons that occurred between 1880
and 1886 to be charged 10 tho sub Treasury when
the Government was all the while under the old system,
III connexion with the banks! II is. the contrary,
the strongest argument in favor Of the sub Treasury
Mr.. RlVES said he was happy to hear the Senator
so emphatic IN his declarations that when the subject
should come up again he would frown on any thing like
| -" ''p''PS' S'''hSNoh, ANU ACT up 10 Wnat ne nau
heretofore avowed on this floor
But said Mr. r., to his observation that the late
defacaons are argument against the sub Treasury,
appeal to him, aud | ask him if his argument is a
sound one. The dealcalcations may have occurred
during the existence Of the connection with the United
States Bank the State Banks, but did they occur at
all in consequence of that connexions They occurred
before the money reached the banks, and while il was
in the very situation in which proposed to he kept
by the sub Treasury The State Bank system required
ILL., Ill III ..ko, he.
the banks the credit Of the United States Treasurer
Blu, these defalcatons occurred in the interim and be-
fore the money at oil in the condition provided for
by the deposite system And has there been solitary