The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-08
WHOLE NO. GIL.

In this uncertainty on a matter OF d.tail-a mer
question as to the hest form in which the banking
power shall be exercised-we assemble here The
President IN his message, declares his readiness to
concur IN any measure indicated by the Representa-.
yves OF the people, consistent with his constitutional
ooiigauons and now TO unite in some measure for
the purpose OF carrying into effect the popular will
becomes our imperative duty.
Among the means presented for ascertaining the
pest mode 10 carry the popular will into effect the re-
commentators OF that Department specially CHARGED
win the general finances and currency OF the
country cannot be pretermtted
- Inc Senate having called upon the Secretary Of the
'easufy 70 FURNISH plan most suitable in his OPT
mon, Tor remedyng the evils of dcranred currency
submits ms project II comes To u.s. therefore by he
authority Of law, upon our own leuusi,ion and n
manner the formal
ne plan, OF the Treasury, thus fairly before n,
mas received numerous and essential notifications bv
The committee 10 whom il has been referred and ~
one Of these notifications. only The Sena,or Con
Virginia dissents 800 ~
In either mode II is believed that most of the exist
ing evils will be remedied Shall we hazard their
continuance by retaining from the adoption of either
Is expeuient, under any circumstances to entrust
the execution of measures 10 unwilling hands and
adverse opinions Will slight grounds Justify diff
terence among those upon whose harmony and union,
interests OF the highest magnitude depend2 When
much may be accomplished, will it not be better to
lorego possible advantage, which only be gained
Executive and Legislative branches of the Govern.
ment, upon which In our complicated system SO MANY
vital interests depend
Considering then the operation Of the bill, as re-
ported by the committee, and proposed to be mod
fled by the Senator from virginia cannot th,nk that
a case exists which would authorize difference
among those united together against common evil
Is SAID, however, that the amendment proposed by
the Senator from Virginia. is but continuance Of
nose experiments under which the country has groan
ca ana "hich nave eventuated in the stagnaton of
commerce, the loss of property and deranged cur
rency But, sir not many of the provisions of the
Di as reported by the committee entirely newt Are
they not, therefore, experiments Is not the abandon
ment OF great commercial emporium and the oca alton
OF the mother bank in the Dist of Columbia an xperi.
meht ! l. not the proposed limitation OF per cent.
dividends, and the application of the surplus as an
available iund, 70 supply contingen dminution an
experiment Are there not other departures from
any previous model mere experiments, sanctioned il
may he by our Judgments now, but remaining to be
tested py experience Why, them the alarm at
tempted TO be excited against another departure ot
perhaps greater vital than many of those which
have already been approved All concur in esta-
blishing Bank of the United States The existing
difference is one of mere detail If probability ex
lists that the currency can be reformed by the amend
men proposed are subordinate considerations to drive
us from this object7
bring my mind TO the single point. Is the ma
chine practica2 Will it effect the objects for which
il is designed Who will venture TO say that it
VIII mott The Executive branch Of the Govern
men has given It's opinion that it will. The Senator
from Virginia concurs in this opinion. hope it will.
shall then not try il fo the sake of harmony and
peace? Shouldn't succeed, our object is accompllshed
heats and dissensions avoided and our united
strength remains unimpaired, The importance of this
harmony and union is too great, in my Judgment to
be lightly thrown away. TO preserve il would ha
card much endure much
What may not be the const quences Of q different
coursef May we not by division and contention among
ourselves, defer if not entirely defeat, the adoption Of
measures indispensable 10 the public prosperity and i'm
Fortunately demanded at our hands by a suffering
community May we not place the reins of power
IN the hands of those whose former policy has brought
the country TO the brink of ruin and whose future
acon IN the same career would, if we may Judge from
the past, augment the national Distress and perpeuate
the evils We have SO long deporedl confess sir,
cannot contemplate this contingency without dismay
would consider it fraught with unutterahe calamity
decayiDg commerce, fetered navigation, industry
everywhere paralyzed, and dstrust pervading the
Union, are but the harbingers of ills which may now
be entaed upon the land. To avoid these results by
mutual concession and liberal orbearance should he
regarded as paramount duty and object and
to prevent catastrophe which will fill many patriot
with anguish and notification, shall think myself
justified in making almost any sacrifice,
have said, sir, that hoped the bill under discus
sion, as proposed to be modified by the Senator from
u
comes to Us n'nded by those into whose hands
have heeD committed the finances of the country But
suppose the worst Let it fail in its object Shall
we not have gained the benefit of experience Will
not the adoption of some other measure be the more
apparent Having made this concession to the scru
pies OF the conscientious the fears of the more eau
tlous, would not the common feeling of the country
rise spontaneously and irressliby to the adoption of
means by which stability and value shall be impaired
to the currency of the country Ii institution in
faH ..aJl IL. 20
States should be found by experience to be the only
expedien by which the essential ends of Government
ran be attained let IT. in the name of our
Try be adopted But in the time until this Gre
alive necessity shall be invncble and apparent let
not reject the trial of the same institution in mod-
fed, and to some less Objectionable form
AT an important crisis, like the present when har-
nony and union can alone carry you, trumphany
o the attainment of your ends too much moderation
$ IN my Judgment preferable To too much rashness
md wisdom dictates to ALL cancellation and TO- bear
'nce Is IT not better To approach the object of pur
'nt by advances gradual, but certain rather than
hazard an rretrievable failure by precipate bound
In the consideration of this subject each of us ought
1ot TO forget that there others whose operation is
not less essential than our own that something is due
o the audabe desire which all feel to preserve
equation unlmpaired for uniformity in opinion and
conduct and that every generous, honorable impulse
should incline US to appreciate the motive which seeks
o preserve the moral power of an untarnishcd name
md to shun the self abasement which is often the
Of variable conduct and inconsistent
opinions.
impeled, then, by that liberaty to others which in
ike circumstances we should desire TO see extended
o ourselves, let us unite common ground |
nd march together in the accomplishment of the OBJ
Gets for which we are convened.
1t is for these reasons that am induced to give
ordiai support to the amendment proposed by the
senator from Virginia II promises the attainment of
he objects of fiscal agent, and presents common
platform upon which all may unite.
Uestern Lead I'rade.-We learn from the
st. Louis Republican that the quantity of lead
eceived at that place during the months of April
nd May was l7s,000 pigs, OF which l04 500
gs were received during the last month. The