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

resulted in sinking the whole Jnckson party
10 the standard Of "Loco jocOs"-with the cx
ception Of a small number called consorva
| lives.
| The writer wi now proceed To make some
sight comments on some pnrls Of spcecl
which the h' al Of this party, Thos. II. Benton
delivered in the Senate oI the u. States OF
the 10th Of January, 1910 II was made at
I me when from the cause of the recent sec
ond explosion Of the banks, the conspirators
evidently felt secure OF carrying into eff C
all 'lr Plans-nnd so much elated was MIR
Benton with tho prospect, that ho appears tC
have Lost, for time, his usual prudrncc---ant
to have confessed being guilty Of the very
acts and designs, he, IN common with Tho
other members OF the Kitchen Cabinet, ha,
heen accused OF. IN this speech as publish
I'd 10 the Globe, Mr.. Benton says
"Mr. President, i, is now twenty years that
have medilated, aud TEN YEARS that ! hay,
been acting, on the subject matter Of this bill -
carno into this body NJ II time, and in state o
the country. calculated TO make those think, and
seriously think, who were elevated to the high
function Of National legislation was elected
to this body in the ,ear 1920, when the hollow
and dcusive pnper system was undergoing ono
Of It's hHbiual and disastrous con, ulsiOns, aud
" hen my plostc's TO this place-my journey
from The Mississippi to tho Potomac ac-was one
long ride amidst The crashings and explosions of
hanks, and the cries aud lanieatation OF deceiv-
ed aud plundered people. The National Bank
was then IN the third year Of lis age and, so
FAR io ON ailording a remedy for the evils, il was
itself tho motler Of the evils, aud VIGOROUSLY
bankrupt, except for the credit and revenues Of
The nited States, which were lent and extended
10 save it. ! SAW with my own eyes that n ma
lional Bank was no remedy for the evils Of the
banking system-ilai II WIS itself the greatest
aud most potential author Of al these evils. |
saw vast ruin ovcrspreadmg the land, and
had my opinion OF IL cause, and OF its rcmcdy !;
but was new Senator, and young man
H0rnS homo, n tho Romans would SAY Of one
who had appeared for the first time in The pub
lie affairs and was lerc long before ] could
act on Ibis subject, or an any one Of general or
national importance. Tho rkcctiOH Of General
Jacl ron was il.o signal ram for the Commences
nent Of operations " nM Mat great man in
front 10 ieod me ont UM his great powtr
5ehint to bach me in the coniest-I comnien-
ctd at once the system If measures Uhich n
hdd so iOns mrd,tdfed anil car, iuiy pionn,d
u was, indeed, syst,m and Il la ge one aud Of
,noHy parts. but All TENDING 10 one object,
the whole work before me--wnh a inaucial
chart spread ou,--nn which was placed every
OBJECT to be ATTEMPTED, and every con-
sequence to hc deduced Finance and commerce
were placed together, according iu their natural
nad ludnsolubIe connection and each were con
'idercd IN relation 10 the other. ! he extinction
IF the national debt ; the termination Of the na-
onaI Bank the ival of The gold currency
he IncieHsG OF the silver currcncJ the suppcs- !
'l0n Of small bank paper the re-estabIi>hneni
,f The Constitution for the Federal Government
he total DIVORCE Of the Fedrai GOrfyHhaeaf
rom Me poPer system; no surplus revenue
md the principle ol reciprocity in foreign com
ne CO these were the objects laid down upon
ny map; aud which, together, constituted the
} stem at which | Was 10 labor.
l proceeded upon plan, consisting Of many
arts, but coherent in all its paris. All that !
Id IN relation to financial. commercial, and
W'tncy QMshO,is, was subordinate TO this
Ian, aud tending 10 the result which had pro-
oSd TO myself was always moving upon
y plan, howsoeyer detached aud even lsignlli-
ant the II oon nj iia seem TO be for unl lot
innn to act by fits and starts, spirtDg crude or
ngahond ideas. " lihout regard to utility, and
'l'hont consulting tho auspices Of proprIely aud
1ccrss
Hero, indeed, was great work carved out
large work 10 bo peiorncd-a great deal TO
e pulled down aud cleared away, before any
sw croctons could bo commenced. The Bonk
The Lnited STATES Was the centre and tho
'd,l OF the existing order of things II ,ras 10
= got rid Of bsfore any lining rise couH be at
rpftd II war the corner stone and the pillar
the paper y stem and besides its general ca
,ciy To sustain that system, it was IN possession
the t"o precise .fucuitieS which wore inconi-
n'IbIe with the existence of an ind' pendent lr,a-
ry. It enjoyed the chartered privileges Of pay
z the public dues in its own noles, and Of keep
& the public moneys in its own vaults. Now
o independcn, tea 'ury stem required The fede-
dies To be paid in the consl ilulIonaI currency,
d the federal moneys to be kept by tho federal Il
GERS. !, i, evident, then, that the Bank priri.
yes must be got rid before zee cOuM begin |
bniH mp an indspenden, treasury. mn I
IS satD from the beginning, and therefore q
'ored TO getrid Of one Lttore began tvith :
I. other. /,
All these objects were began some have been I
rsued To success same are on the point Of I
iog accomplished and some even Yet but i
presented TO the public mind"
llere II precious confession indeed Il
r. Bcntons plan then, 1t seems from the I
cunning, was to establish an Independent; I
'asnry '--and all tho parade obou, the t
icicncy of the "erp1imemi"-,lIe Pc, |
INK s'cm-madc IN the messages of the [
.reHi man IN 'front.' 10 kad me on, riM II !
great po,rcr behind 10 Jnrk me (.Ur. Ben {
y IN Gic contest was mere humbug, put h
'th to deceive the pcopic-anG was nll 5
subordinate TO the plan Of the establish II u
nj of the /" independent treasury" J
II l. curious 10 observe how the tone of The :.
nGal messages hive kept pace with The [
erafons Of tie consplrators, from the com
'nccncnt Of Andrew Jackson's reign. 1t lItl
= been before shown how slightly the sub Il
1 of the United States Bank was touched (,
on IN Tie hrst message, III 1879, which Il
idualIy became yearly more violent as tho HIT
became GXasperated at the re- o
iancc OF the bank, either To become their o.
J, or 10 trick when they wished IL 10, so cl
n The next step of the csta bllshncnt of le
Sub Treasury Bank, aud the introduction D,
4 specie currency. He,
IN General Jackson's sixth annual mes CT
70, of Dec. g lc;}i, he is made To say to "
people" The state banks are found iul. III
adequate TO the performance Of oil services q
ich were required by the Bank Of the u. / VI
'ies, quite as promptly aod with The same ol
This was probably kcndalrs fr
ertlon, followed inmc diately after 10y o si
'rHe attempt" of Mr.. Benton, " Jor prrpdr- IN
NE pubic miDd for tho introduction OF u ~
c'e currency, and Sub Treasury Bank by d,
IusertIpu m tln sat,. mr., nj ,,,.- y ,,,