Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-10-06

have s-en-is called a second Decisration Of IndS@
pend.ne~. Now. - rr ~. Banks are Concerncf.
The law Iuiho, ning he t-suc OF Treasury Notes
ousi : 20 d, cSlsd ~. thiud lie ~lafation OF lndepeu-
deDce HvS does that IonNcr 49, independent OF
bauhsl lwli tai ydt. At .hs moment about tive
an taat, and thai hank tpuintlng. 10 different bank
ing houses within his EYED sold 10 thee banks,
mount thcrcOf-and these drafts are SO arranged
that banks make a very reasln0ble-ro to say a
very unrea-Dnahtc, amount Of interest upon these
notes, before they are called UPON 10 psy The cost
thereof, We haG before as the accounts of bank
that bad taken n larre amount ot Treasury Notes
bearing interest. and ere i;ei the Government with
the facc oil them, and paving the drafts of Govern
operation TO have male y profit of from 8 o 10 Sl0t
200 and ,his u me mode IN whhh the third D,s
ella -arion Of independence OF The banks works. %
the I've millions ct Treasury Notes last authorized.
I reneaI. above twv wllon are now IN banks Of
This city. aud I know not how much moe m banks
an Rosiou ar| elsew here craving interest while
the money is not Ill advanced. This Is the hnanei-
al skill ami ecohomv OF tbs rrs,sury.- 'his ,he
divorce rom, aud independence oil, banks.
The fashion now is since ~. ChlliouH, hiowed by
the gentlemen who usually follow him, gave ihe sig
nal. to discredit paper money as much as P0srbie,
They avow this tn be their object. Who can ioretca
the evil consequences of seeking. through the Custom.
House. the POs,IOhcc. and the Land-OHices. 10 throw
doubt and dscredit upon bank papcri The refusal To
receive, aud the attempt 10 discredit. this circulat on.
Is. in fci.a power To break solvent banks. but n is not
n rover or means 10 compel insnlveni ones in perform
their duties. The demand Of specie Oh the notes of
spccie-payinc banks may break them. but such demand
passes UNDECIDED by those who De- not pay specie. But
it is maintained by Mr.. Wright. that no danger il 10 DO
apprehendcd from tins source. for tint a sum not eN.
cecding five MILL ms Of dollars will perform all tho
functions Of receipts and expenditures by the Govern
men;. We do rot know upon what estimates Of reven'
ne or expenditure Mr.. Wright POUNDS this calculation.
lie does not tell Us whether he expects the th~irty-nins
millions of annual expenditure. under NJ. IaR BHrca
will bo brought down 10 the thirteen millions Of tho
prOdigal administration Of j. q Adams; but he insists.
that five millions-and what theni Why. five millior
in specie j. equal TO the full averages moioiy of all tho
specie in Your city banksl What. then. would he the
effect upon them Of the accumulation OF five millions
of specie in the hands Of the Receiver
Another tn argument for the Snb-Treasury nc
cording 10 Nj. Wright. is that il prevents banks from
diScuunting on the public MONIES. and therefore the
necessity of Receivers General. who shall keep IL lock
ell up until wanted for the public service. lie trace,
fluctuations IN our currency 10 the use ma &c by banks
OF the public monies. and desires that these may Iva
restrained. but If only f.e millions will be in the
possession Of the Receivers. can that sam suffice those
huctuaiionsl Can five millions. absent or present.
affect the general di.COunis, circulation, and business
Of the couniry' The argunens Of the Senator DO not
coincide or stand together. The only difference h
says between the late and present system sf keeping
the public monies is. that instead of the Bank OF Amer
lea, Stephen Allen keeps them. So that they cannot be-
used for banking purposes. But What then become of
the specie concern, If this be the ouly diff rence' I
49, @y AfhNf - WV INhsh ~ SHNAN
uon OF the Sub-Treasury 50 far rs regards the receipts
and expenditures Of the public. you understand it,
effects and operations better than I dd; but the groat
public political objection To the whole scheme is, that
At not only makes no ~previsiOn for. but ,~rofessedly all
andons all interest an. and concern abnni, the currency
Of the country This is the cardinal, decisive otjectiol
which is 10 determine the fate of the present admins.
iration.-This question has nov been so long befors
the country, 50 frequently discussed, thai I will no, n
INTO 1t anew. The people are competent 10 judge OF
II for themselves, and hat judgement will. | appro-
bend. soon be promulgated. (Cheesl
One topic mprc | desire 10 advert TO before finishing.
We have the happiness. under the benign permission
lOt Providence, tn live an n country ot which we may
b. proud for many reasons. Proud orits liberty. uft!o
public spirit and eni Shiened patriotism Of our fellow
citizens; proud also, and most proud. of the puLlic
morality. sound faith, substantially correct morals, HAT
have distinguished the administration Of or nT,ir-.
and the conduct Oiihe country. since we took its place
among the nations Of the earth.
Among the evils Inst threatening now are attack.
upon tins moral character. this high fifth. which have
distinguished ~. and in virtue Of W ,ich We have
maintained our high standing amongst nations. Sem
timeRis have been broached that strike at the very
iuundaIish al our social nad political system. sneak
not now of doctrines promulgated in any one State. that
a man has no right 10 leave his own properly acquired
by his own lub1ur and indusir, u his own children
and other like absuiditios-hut I refer. 30 The doctrines
miantalned here and elsewhere, that no set Of men can
bind those who are 10 come after chem. that 10 Legs
la'nre can bird lis successors, nor make any contract
"hlch nnolher Legislature may not repeal. One gen.
Grafton not bind their SUCCESSORS! Who shall mark the
lines that separate generaiions7 These change daily,
hourly. Thin American community when ! began To
nddress you. was composed IA part. of men not now in
existence. and is composed in part ofoihen not then IN
eIistcEec. How abhOnent is this doctrine 10 The great
general principle. that although individuals my fou
ish or decay. States nre immortal. Great ppliucal
soveregnihes and communities are ever Young. ever
green ever indent4cdl. indiyid uals may change. as rho
atoms Of our t~dies change. bat communities continue
10 exit, as our bodies dU-Wiih this exception. that
whereas. We known our bodies arc mortal and Tint
there is n tune appointed for all the living. and that We
must oil return to the dust from which we sprang. our
Country will survive. and at tIai last moment Of our
mortal existence. the thoughts Of az will sill dwell in
orr hearts, and the aspiration go up, that she may be
IMMORTAL.
(Mr Webster then sat down amid cheers Oft and
again repeatedly
This may he nearly accurate IN the present con-
diIinn Of the Banks. when they nre overburdened viii,
specie; hut generally speaking. five Iailliofs are equtl
TO the Udote amount Ut specie held by our City la ks.
MI