Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-03-09

now the leading men Of this very Wing party come lot
ward md that loo without blush and urge the election
Of man who has been prominent supporter o, all
these altered "enormitles. And now, Mr. SPEAKER
what respect faith ought to be given 10 party who
thus stand selfabused self convicted and eitcondemn-
few words more said Mr.. w, in the endeavor to
wrest from unmerited opprobrun The Sub reasury sys
TEN, and will have done. II has been with me; sa1
Mr.. w. matter of surprise 10 watch the s'uue' a"u
unTelenting opposition OF men, whose tehuehc'eSi mn"
are Democratic to the Sab Treasury that simple ne
publican measure Of fathers OF coecung anu c''
bursting the public revenues by The omce's "
Government elected by The people, ana res ~, Nv
to the people the more especially os we n'snt "a
nee, tho hearty CO operation Of the President, III
ing around the system such guards ana 81 t;;,
as will etfecluaily curail Executive patronage "u ''''
Executive power. Nor have | witnessed VII" ess SUI
roo ,hs s,rsnn,s these men TO continued
system of eneral drposlle in the Stale bahhs' % u
place the Governme nj of this gre6t fepuo''~"'"
Of irresponsible corporate power aus 10 -
the f.on grasp nr hcartiess souess GU P'
,,,ons For whatever lust doubts there might nave peen
in taking this or that system before after me events OF
tho las. Two years Republican who IS soicItous Tor
the honor and glory Of his county ought now 10 h 81
t.,s VIVA, have we seen? In the spring OF leJ1,
whilst this nation at peace with all The VERDI Ills
commerce in security and prosperity uaEershg every
ocean, It's prospecting beyond any FORMER peioo
and every department Of labor receiving ample r"arcs
and stimulating prices-amds this harpy state oil thngs
what have we witnessed, said Mr., W; ms great
nation suddenly convused the Government brought 10
stand and its se!Zed by t'r power {" ihoeu
corpoialons responsible neither TO the Government nor
10 the pconle and this power marching with gigantic
strides over violated obligations, moral ana legal 10 'e
very halls Of your Legislature demanding 'ne cuS'oy
the public money for lis own private use aMu pr"'
There the gentleman from Putsy !vana (Alr HItcHsD
rose 10 question of order know 1t II were IN orcfT
discuss the Sub Treasury system Mt watkins waived
sny decision the question OF order; he was wing 10
yield the floor and have this election terminated oesv
ing he would have some other opportunity 70 give HIS
views on this subject
The Substance Of tie Remarks IF Mr. SMITH Of C"iT'
psr dei,vered IN The Senate Of Virginia. on SATURDAY,
ihe 10th February, on tie election Of u s. Senator.
Mr. Speaker-Protracted as has been the discussion
in the other branch Of the Assembly, II has terminated
sooner than had been led 10 suppose; and am lhne
called upon somewhat unex pec,ediy. to perform my
humble part this interesting drama, which uuy " my
self and my constituents impose upon me 1i"i'us"
tnken BY although the spirit is not upon me
vet will not ask the indulgence OF this Senate hut VIII
a, once proceed with all the despatch compatible with
perspcuity assign the reasons which will govern The
vote propose TO give.
There are three gentlemen in nomination for The high
and distinguished Office have to fill, each OF whom
has done the State service and all OF whom possess
in very high degree those virtues which illustrate and
adorn society They are John Tyler protessedIy the
candidate of the socaed Wing party-Wm G. Rves,
our present able Senator aud John Mason OF sound
Republican principles, ami well known TO be The poI''
cal friend of the present Administration II we'll
kaown fact that Mr. Rives no longer The choice o me
Republican members OF the General Assembly; aud that
in consequence of this fact, II is proposed 10 supersede
him, by the election Of Mr.. Mason Why and how is
this This enquiry will no doubt be frequently made,
and is one which will proceed to answer, and
trust to the entire satisfaction IT my Republican friends
In all free countries MIR Speaker, parties will exist
Offering, wide the poles asHnuer, as TO the principles
which should govern The ad nInslTaon .! public ahdrs
With US, this has always been the case, ann must anc
will continue be, long deserve to be FREE
With u.s. it has been practice a!mos, universal no, h.
nored in the breach but IN the observance, to elect
agents with reference 10 hsi! peculiar political opinions
aud their friendship hostility to The Administration oil
the Federal Government. Accordingly, Mr.. Rlves
elected to the Senate Of tie u 3 IN ico, as he ifen
OF the Administration of Andrew Jackson; and he nob
and ably redeemed the expectation a. his constituents,
and the county Mr. Rves eiGrd in the election Of hi.
successor who had promised TO follow IN the steps OF hi:
ilusrious predecessor; and 1t is because Mr.. 4 canno
be regarded longer friendly TO the Administration
of tina, successor that those who are, deem II hlgl
and solemn duty the country, 10 cast their suffrage TOT
one who holding no hostile or equivocal attitude, vii
give 10 the Administration Of Mar,n,Van Buren, tha
hearty and cordial support, TO winch Justly entitled
from every Of the South.
Permit TO present 10 the consideration OF the ST.
nate some only some Of the evidence which forces upor
my mind the painful and unpleasant conviction tha
MIR Rives no longer be regarded as one Of the Re
publican party. Allow me- If you please, Sir, TO advert
10 some Of the incidents political history
When, Mr. Speaker, the late President of the U. S
in the exercise Of his high constitutional duties present
ed to the consideration Of Congress, the policy Of re-
newirg the charter Of The late u S. Bank, well re
collect the fierce and relentless that that Institution
and all its affiliated powers waged upon him. One ~
its most heatess means the contraction Of its cir
cua,ion and consequently that Of every banking insti
tu,ion in this broad land 1t addressed itself TO the hus
ness habits and interests Of every and thus inflicted
upon the community amount, Of suffering one cal
estimate; and al! with view 10 the qualification OF It's
ambitious aud selfish purposes The devish power o.
the nonser" the effective in 9uence O.
the character of The currency, which consisted amos
exclusively of dank paper The independent currency
contemplated by tile Constitution had almost entirely
disappeared ii was estimated that IN lc3O, the who'll
amount Of specie in the u States did not exceed TWEEN
~ millions Of dollars, and very large portion Of ever
this uncomfortable sum held by The Banks. Thu:
the Bank held almost omnipotent power over on
then existing currency, which It welded with cold ant
heartess ferocily as eartuy artesied by the in
tant's plalnve cry, the widows wall the lab"rers
groans and the deep ho"ls oil the disappointed and RI
ined SPECTATOR The purpose Of the Bank was to throw
the fault Of The ruin which it wrought, upon Andrew
Jackson, and by such unhuly frauds overthrow his Ac
ministratiun. Another source OF the mighty power o
the Bank, the public deposes. For many year
the public money held b. the Bank uitou interest ave
RACED something like fifteen millions of dollars Th,
was an advantage equal TO nine hundred thousand DOLLAR
year But the great advantage enjoyed by The Bank
was, the credit it derived from It's connection with tn
Government. Abroad and at home it was considered
as founded upon the faith of The Nation. II could no
fail that the friends Of the Bank have Ire
quently declared that these advantages did not mon
than cover cement and nser of the publ,
funds; but il is all mistake. The Bank was not re-
quircd TO transfer funds point at which it had ne
branch, and | tina, the transfer of the funds OF
the nation instead Of being charge, source o.
immense profit 10 the Bank. The occasion will no
allow me TO demonstrate this position; but any one
familiar with the management Of the exchanges 1t
this country, will admit its correctness The power de
rived from these and other have stated
sehshly used. II cruelty fell upon the springs OF en-
prise-: for n interrupted the nan-.' COW o' 10
tional wealth-it swept for 49, amL ~ WIZ.
,ho hoso,, or --tf0n, over The brightness and The
L. Ie H~ uuf htppy and favored country.
TO arrest "the monster in his march Of ruin-to in.
the ability of the country TO ress, his assaults
became at very early day. favorite policy with An
drew Jackson 10 increase the amount of specie in the
country and place in the hands Of IKE people. To flee,
this great and interesting result he earnestly urged The
suppression of all notes under twenty dollars. We ap