Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-03-28

the protection of the Government, bunting and with
his usual address rescued IL fiom the tender
cios OF lis enemies.
Upon n motion which he made to amend Nj.
Clay's resolution Tor tho restoration Of the Depositss
by striking and inserting in eu,s provision for tho
Depositing OF the public moneys in State Banks,
and making regulations for its security in those in
situations. he vent at large into the reasons and
consider atoms which influence Linn In pressing tho
anne ndment. lie deprecated almost in the sane
anfua which have jus, quoted from his speech
upon the rcchartcf of the United States Bank. the
spi,,t which seemed have broken ont against State
Banks and said TINT IL aurured badly for the rights
of the States lie said that The strongest current Of
consolidation which was now observable in the u
MON. was that which set in favor OF the National
Bank and against tho State Banks, and threatened
10 consolidate all monicd power, and with il all 20
llica power, in favor of crra, central institution
nde pendent of the States and able by its own avow-
AL to crush the State institutions AT its PLEASURE.
lie said said Mr.. T., in this ve,y strong and
memorable language, which lac hoped would COM
mand the attention and fix itself IN the memory Of
every gentleman within his hearing. lha, ms spira
against me STATE Banks 1eas an i'm nision Of modern
oyigin-uaknorn 10 The fathers Of the Republic and
10 The early history othe countryand strongest no,s.
Ticre he spirit Of consolidation strongest, and
iehtre Me defence Of STATE Rights nas aeeakcst Ito
repeaie the fact, that n, the CONNIE eincnt Of tho
Federal Government there was no Federal BANK,
aud all the public moneys were kept in State laiks
and drawn direct aud MS fast MS they were received
out of the hands OF receivers and collectors lie de-
yclnped fully all the circumstances connected with
tho incorporation of the first Federal Bank aud said
that " hcu IL was proposed in 1891, and the keeping
Of tho public moneys was one of,he services attribu
ted to /, by its advocates Mr. JeGerson denied hs
nfcsssiiu of n Feifrai Bank for anu such fpy,,oscs
and opfniy ertared himseifi IN Eror Of STATE banks
Mr. i. said. that Col. Ben,ou after adducinc many
quotations aud tracts going 10 establish tie wis
dom aud Rcpubcanism of the present, position of
the Conservatives in reference TO this matter sums
M by saving. il wastbus proved Inv an experirncc Of
twenty years-an experience running through tho
whole of the administration OF JcfieIson and Madison
and a pau of their preJec essors--that the public
moneys may be safely kent in The State Banks and
that Mr. Jefferson was right IN his cabinet advice of
l79l when he gave il rs his solemn opinion to Gen.
Washinpo ton that there was 10 necessity for charter
ing FederalBauk to act as fiscal ass of the Fed
eral Treasury and that The STATE Banks would e. ter
into anang enents for that purpose aud do the busi-
ness well la another pat Of the same speech, Mr..
Benton said that, having shawn that he stood on
Jcilcrsonian ground. and upon safe ground in re-
commenting the State Banks for places Of deposi,o,
&c. &c., Nc.
MIR. pe,ton said, that these extracts were only
few gains of sand from the sea shore. The whole
history Of Gen. Jackson's admuistrat alton, he said
WAS an unbrokcn chain OF proofs that tho "greai
Jackson Democratic Republican party" chung 10 tho
General Drpositc system, with the utmost pernaci-
w. AS one of the strong holds Of Rrpubl canism, and
that they were ready to hur the anathemas Of excom
against all who presumed to question
their ,nrllb,i,ty. Yet safd Mr. Peytou, strange 10
Tell and il is not less true than Strange, many OF
those ardent and cmbte,ed spirits no lately led on
the embattled hosts OF Democracy against that a
lrocious Federal conception," tue Sub Treasury,