Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1840-02-06
Abstract OF Mr.. Clay's Speech

In the Senate on the Goth ultimo, the Sub
Treasury Bill was taken up and Mr.. Claw
ose and said that he felt it his duty, before
he f'nal vote was taken on this bill, not TO
make speech, but to say few truths about
I. He came to the Senate, though suffering
rom lndisposltion, resolved if the measure
was pressed, to execute this intention. This
DILL SAID he' is to pass this body. The de-
cree has gone forth! 1t is decree of uruen-
cy too. The little delay of one week which
was asked for, to give time for the filling nm
OF vacancies i'll these seats, for the arrival of
Senators who will be elected, has been refu-
Sed-l was going to say, scornfully refused
ny the decree. 1t has been refused by the
votes oil two Senators who do not truly rem
resent the sentiments of their constituents,
ana IN the absence OF twowho, if here, would
Jusuy and faithfully represent those senti-
mentS. The bill is topass, also, by a major
,y Uhtch rs less than a majority in The Senate
es, sir; a measure more direful than any
which ever became law in this country, is to
be sent forth from the Senate by less than a ma
Jority! Nay, sir, if the two Senators from Ten
pessee had adhered to their seats with the same
tenaclty that some Senators on the other side
have exhibited in adhering to their seats, and
II the delay which was solicited had been gran
ted' there would have been majority against
the bill
After some other preliminary observations,
MT. Clay began to consider the bill in view
of its adaptation to the present crisis.-What.
ne asked, is the present condition of our peo-
pie! Sir, there is one general prevailing
distress from one end of the country to the
otner. All our great staples have declined in
price, and are declining. The country pre-
sents the image of a body in which one half
has been struck with palsy for in one half
there has been suspension of business ope-
ratlons and trade, and of specie payments.
lie wished to heaven that, in this gloom,
we could see one CLEAN TO light us to pros
pect OF happiness restored and prosperity re-
turned. But so far from improving the price
OF all our staples, they will 90 down and
thls continual declension would result not
from want of markets-but from inability to
get these staples to market. He had never
known such season of distress as that
which has just passed, or that which yet lies
Deiore US. Every part of our country is now
breeding; and the only man who regarded it
win unconcern, Is he who might do most to
remedy the evil. The physician of the White
Honse is the only man who contemplates this
woe scene OF ruin and misery, without SYM
Pathy, without feeling, without any emotions
but those connected with his own interests or
those of his partisans.
MI. Clay then referred to the cause of this
STATE OF things; and prominent among them
ne paced the removal of the depostes, and
that series OF measures against the finance, the
commerce, and all the business interests of
the country, which marked the course of the
last Administration, and continue to be the
pollcy OF the dominant party. From this re-
view, he turned to ask what remedy for these
evils was proposed by those invested with
the powers of Government The Sub-Trea-
sury bill!
He examined it first as his friends represent
1t. What is it? Does it propose any relief.
Does 1t hold out any ground of hope! Does
IL tender any consolation of comfort to an op-
pressed people! No sir; it is simply bill
TO exact from the people specie in payment
OF dues to the Government, and to paw ont
specie to all who have demands on the Gov
eminent. This is all. After all its number
less sections, its cumbrous machinery, it pre-
tends to hold out nothing more.
This remedy does not meet the disease.-It
leaves the people to all the unsound curren-
cies In the States, and, indeed, does not pro-
pose to do any thing for them. All its prep
aratlons and provisions for receivers general.
treasurers, safes, and all its paraphernalio
are solely designed for the purpose of receiv-
ing and paying in specie.
But 1t not only fails to do any good to the
people. 1t aggravates the mischief, by war
ring on the only institutions which do ATTEMPT
10 afford to the country a sound and canal
currency. We have indeed lectures and hon.
lies enough about the measure, about tbe
money. &C., and we have the
liiustrlous examples of Cuba and Spain, and
NINA and other hard money countries, pre-
sented by the President to the Senate, and
by the Executive and the Senate to the press.
ana through 1t to their partisans, in all parts
OF the Union. But our rulers have done mo-
thing worthy of practical statesmen. Thew
nave not considered the wants and sufferjnGs
OF the Nation, and not undertaken as thew
ought to have done, practical cures for the e.
wills. WV {
MI. Clay here gave severe rebuke to those
VINO nave made the Senate Chamber hall of
to lecture and to censure the
states Tor their proceedings in regard to the
He demanded to know how men.
who are eternally pretending and boastino to
De the sole advocates and supporters of State
Rights principles, could stand up here. and
lurl their denunciations day after day, at the
sovereign States of this Union, on account NJ
he course they have thought or NAV think
it to pursue.
After dwelling on this point for soao time.
ne declared that the Government could not
get rid of the banking system. It's fixed as
he rock embedded in the mountains. which
ilvlde the different parts of the Union. and
therefore,, 1T would become a practical states
nan to look at the actual state Of Mines. and
II his opinion, Government must leoisIate
With reference to banking system, whose
continuance is inevitable; and cannot he
prevented by all the speeches and MESSAGES
q this oh aInhnr and 1.f .