The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1840-02-06

I
The country presents the image OF body
IN which one half has been struck with pal.
sy for il one half there has been a suspen.
sion of business operations and trade, and
of specie payments.
Those who are acquainted with Mr..
Gays powers of picturesque and pathetic
eloque0ce, need no assurance that, 10 pre-.
seating a sketch of the present embarrass.
mens and distress, he produced powerful
! impression.
Tie wished 10 Heaven that, IN this gloom,
Ne could see one CLEAN TO light US TO
prospect of happiness restored aud prosper
ly returned. Bu, so far from improving
the price Of all our staples, they will go
down; aud this continued declenslon would
result not from rant Of ndrkeiS-hul from
inability 10 get these staples 10 market. Ga
this point, Mr.. Clay dealt with great sue.
c.nctncss aud effect. tie never had known
such a session Of distress as that mich had
luSt passed, or that which Yet lies before
Us. Every part OF our country is now
bleeding and the only man who regarded
ii with unconcern, is he Who might do most
10 remedy the evil. The physician Of the
White House is The only man who coneu.
plates this wide scene Of ruin aud misery,
wIhout sympathy, without feeling, without
any emotions bu, those connected with his
own Interests or those of his partsans.
Mr.. Clay then referred 10 the causes Of
this state of things; and prominent among
them lie placed the removal Of the dcpns.
ties, aud that series of measures against the
finances, the commerce, and all the husl,
ness interests Of the country, which marked
/ the course Of the last ADMINISTRATION, aud
continue 10 be the policy OF he dominant
party. From this review, he turned TO ask
shat remedy for these evils vas proposed
/ by those invested with the powers Of Gov.
Iernuentl The Sub.Treasury bill
| He examined it first as us friends repre-.
sept il. What is II ?! Does i, propose any
relief Does It hold out any ground Of
hope Does it tender any consolation or
comfort TO an oppressed people No sir;
Il il is simply bill 10 exact from the people
specie ia payment Of dues TO the Govern
uent, and 10 pay out specie 10 all who have
I d mands Oh the Government. Tbs i all
Alter all It's numberless sections, It's cum.
brous machiuery, II Pretends 10 hold out
nothing more.
THIS remedy does not meet the disease.
/ /! leaves the people TO all the uusoand cur
rencles 10 the States, and, indeed does not
/ propose 10 do any thing for them. Al IL
/ preparations and provisions for receives
general, treasurers, safes, aud all is para
lpbernaiia, are solely designed Tor the pur-
pose Of receiving and paying IN specie.
But i not ouly fails 10 DO any good To
the people, 1t aggrava,es, the mischief,
BY warning on the only institutions which
do attempt TO afford to the country a sound
aud equal currency. We have indeed Ice
lures and homilies enough about the mea.
sure, about the currency hard money, g.,
and We have the llustrrous example OF Gu
Ia and SPAN, and China, and other hard
money countries, presented by the Presi
/ dent to the Senate and bp tho Executive,
it 70 their paruzaus, IN all parts Of the
Lulon. Bot our rulers have done nothing
81 rhy Of practical statesmen Tacy have
GOT considered the want. and safiruas d
The Nation, and not uadariakeu as they
ought to have done, practical cures Tor the
tews.
! Mr. Clay here gave a severe rehuke &c
those DO have made the Senate Chamber
. hall Of proiassorshtp, 10 lecture and &c
Eceusgre The States for their proceeding, IL
regard to the currency. He demanded {,
know bow men, who arc eternaIly pretend
ng and Loasilng to be the sole advocate,
aud supporters Of Slate Rights principles
could sland up here, aud bari lher deuun
Ec3tIoEs DAY after day at the sovereign
States 9f this Union, on account Of To,
course they have thought or may thiak Fl
to pursue.
Alter dwelling on this point for som'
time, he declared that the Government
could 10, get nd Of the banking syslcm.-
Il IS here fixed as the rock embedd in toe
mountains, which DIVIDE the different part
II the Union, aud therefore il would becom,
Ia practical statement to look at the GctUa
state Of things aod IN bis opinion, Govern
ment must iegislate with reference to ;
banking system, whose continuance Is iuev
table, and cannot be prevented BY all the
speeches and messages 10 this chamber o.
ont 4 his ybamber.
Mr. Clay referred incidentally to the es
tshueut Of a National Bank. He did no
intend to propose such all institution, but he
beiieYedu essential 10 the proper adminislra.
ion oflbe finances of this country, and hoped
that ~hrn the peoples voice vas heard
calling for 1t unequvocally, as he believed
II soon wo0ld-tnai voice would be ubeved
Oue Of the most striking aud Impressive
, parts Of hts speech was, that in which h,
noticed the extraordinary arguments 10 be
half Of the bill urged by some Of the Ad
mInIs'ratInn Senators, and principally bJ
Mr. Buchanan, on FrlGiy iest founded OF
their nevis discovered maxim Of safety anc
increased happiness to tie people Of thi
country, BY bringing down the wages Of la
Dor. For the first time il was then boldly
, t,nparrraI ,b.t ov,a 5.l,ioot AZ tho ,noacttY ,.