Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-04-30

| he ever avowed beforehand It will be per
celved that ii Dccords exactly with Mr.. Ben
toms viows with regard to his long mcdlate'
plans, of getting rid Of that institution. IL
speaking Of the tendency bank paper has t'
Danish specie, Gen. Jackson says-"lt was II
view of these triis, together with the danger
Gus power welded by The Bank of the Unltet
States, and It's repugnancc to our constiin
ton, that was induced to exert the powe
conferred on me by the American peoi 10 t'
prevent the continuance OF that institution.
This was going pretty strong Tor Mr.. Ben
tons plans-but 10 General Jacksons ma
farewell address To the people "hdf gfed
man" is made to come out IN favor oi spe
Gle currcncy-both "in front 10 tedd me Mr.
Benton) on, Wah his great porer bthud u
back me (Mr. Bcnton) IN The cOnteSf-and SC
yeral pages are appropriated to the advocac,
of u "specie currency" and Gen. Jackson u
made to say" Best experience has no"
proved the mischieis and dangers Of pape
currency, and 1t rests with you to determine
whether the proper nmedy shall be applied
Ii seems that whether the people were dis
posed To apply this remedy or not, Mr.. Ben
ton was,-and that in January, 1884, he IN
troduccd the following resolution into The
Senate" Solped, that II Is the true interest
and meaning OF the constitution OF the United
States, that the Federal currency Of the
United States shall consist only OF gold hnC
silver coin aud that there is nothing IN the
present state and condition Of the country, Ia
justify any supposed plea Of necessity de
parting from the PLAIN interest of the consli
tuition by issuing or permitting any corpora
lion to issue, any species Of Federal papa
currency rhaitrcr." Mr.. Benton in speaking
Of tins resolution with some others, IN his
speech prelaces it with tho following re-
marks-
"My financial map presented large wo'k;
und il required time, aud patience, and much
labor to conquer success. TO prepare the
public mind for such changcs-ior So much
pulling down. rs well as building up-was
the first step in the hcrculcan undertaking ;
aud, 10 do this, many speeches were To be
digeSled and delivered and speeches of a
different kind from those hich the rhetoric
Ians teach us to pronounce. We live in an
age Of intelligence and activity, and when
the public mind is powerfully directed 10 ob-
jrcts of utility. In speaking 10 such pco-
pie, concluded that, OF the six parts OF The
regular Grafton, four parts might be thrown
away: that could dispense with all except
the facts, and the application OF the facts,
cemen,cd and enforced by reason. Upon
this plan spoke. My speeches were strip
ped of ornament, slntcd Of phrases, and
crowded with materia;. They were brlmiuiI
Of iucis and reasons and this was n comph-
nent 10 the intelligence oi the age IN which
| lived. The compliment was not msappIled:
tie intelligence o! the age was not oycrratcd.
The event has proved that 1t was not. Al
the end Of some years the public debt wa,
paid-the National Bank was laid IN the
lomb-thc gold currency was rcvivcd-thc
silver currency was vastly augmcnted-a re.
urD to the constitutional currency for the
Federal Government became a measure OF
he Democracy-the separation of the Go
'ernment from the paper system became
equally their measure: and political parties. |
eturning to the debate and controversy oi
'rieinal principles, exhibited ,heInselses on
he respective grounds of Federalism and
Democracy which they stood upon in The cur.
y days Of Hamilton and jefferson.
Besides preparing the public mind for great
hanges, tho means and machinery OF the
hanges were also to be prepared and this |
ed 10 nn almost infinite number of PROPOSE /
IONS offered at different times, in detached |
,arts, by instruments as 1t were; but all tend /
ng to the same end and 10 the same ultimate |
'bject Of fre-es,ahlshng the hard money Go
erDmcDt of the Constitution. IL would be
cdlons, aud in fact, Impossible to detail oil /
hcsc propositions at tins time but few OF
hem, selected from the mass and IN different II
ears, will show the sleadness Of the pursuit, Il
nd the earllncss OF my action Oh the esubject.
have already shown that as far back as The
d OF February, 1881, IN my first speech a.
alnst The Bank of the United States, raised
ne bard money standard for the Federal Go.
crnmcnt, and denounced its total separation
ON the paper system. Following up the
Ian therein Indicated, brought forward in
10 winter Of lS3}-3i. namely, on the Cd day
January, 1884, specific propositions to cor
CT the gold standard-to lcgalIze the circu.
ton of foreign silver-and to rcpulse from
o Federal Treasury all bank paper of less
than twenty dollars. In
'eech against the Bank OF the United States
hich then delivered, gave the notice for
csc rcsolutions,and pledged myself to bring
em IN, and follow them up 10 u decided is.
le."
Hero then we have it acknowledged that
was Mr.. Benton's plan, from the beginning,
gradually prepare the "puJiic mind" for \
e destruction OF the banklng system, and
e introduction ofa metallic currency. Mr. Ii
rnton has before said, as shewn, that the \ .
nitcd States bank was to be got rid Of, be. Il
re his plan could be introduced. How for. /
nate 1t was for HIM that just about the time {
wished to "gd rid" of that institution, II / d
oud all nt once conclude to further his 1
nns, by behaving so badly that President )
ckson, "He grem man." should feel il, a
yrnve duty to destroy 1t. Hear what Mr.. '
,uton further says b
at was in the month of January, 1884, that =
csc resolutions were read in the Senate; in
. month of March following, they were of. a
ed and have since been followed up by a
= measures which were necessary to rive [,
I'm ciiect t.and 10 lead To the accomplishment e
The great 0y"d on which we are no,o en-. :
ged. The mint Wds br0nchcd, both TO in n
'asc The colnu.e and 10 Scrrt at New Or 81
ms and Philadelphia as GepoSiiories of the al
tHc money the gold standard was correct. C,
foreign silver was admitted t. n legalizud cI
cuIalion small notes under twenty dollars oi
re cnt ot from the receipts aud cXpcnd II 4
cs OF the Federal Treasury the Ireasuyy W
der was issued, and remained 10 force two l IA
'rs. All these measures, with ten years m
discusson---tle increase Of unr specie II
m twenty to ninety milIions-ftco erbio. T.
's OF the paper system IN three ypar.-thc W
bllty oi the Bank Of the United States q,
longer to sustain the Opposition, ard 10 f,
GIVE and distress the country; all these +.
I..... Al