Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-10-11

Committee OF the House oil Representatives,, statcc
| on oath, that at the time he vas making out. a.
President pro ten. OF the Senate list Of the Com
mittee TO whom the Compromise Bill was to be re-
ferred, he received note from Gent Jackson, ex
pressing desire to see him before he appointed
i that Committee; that be went TO the White House
and saw the President, who demonstrated against
his putting Mr. Clayton on the Committee. end
| wished Il made up OF men Who were hostile to It,
AMI In favor Of verpanck's bi and on this subject
| he pressed MIR White hard, though in vain. put
1t to you. said MIR c., if General Jackson had MI
Verplsnck's bill so much at heart, whether. with all
his ionaenco and that INSCRIPTIONS use oil his pow
| er for which he was so distinguished, he would
| not as easily have broken down the tariff and manu-
features OF the country, as he broke down the Bank
of the United States Ia that day his influence wa,
almost resistess, none Of his partizsns daring to
thwert his will, and repeat that had il not been
| for Henry Clay, Of Kentucky, he would have laid
| the American system ptostrate at his feet
And now, my fellow citizens, after all that Ia
passed, as was sitting by my own hre-side, read,
and with little surprise and regret, tho speech Of
the Secretary of State arraigning Henry Clay, who
the act and the motives tina, led TO it were, and l
leave you to give your verdict upon the charge.
MIR Clayton said he had served in the Senate with
both these distinguished men, and he felt bound
say that Mr. Clay had ever sustained with hun and
others OF his friends, the character of an open
he1ried, frank, fearless, honest man. Greas cheer
ingl
Mr. Clayton said there was another subject OF
/
It his duty 10 speak. ME- Webster said in his Faneuil
Hall speech that there could be no restoration OF
the currency without a national institution Of some
kind for this purpose. He concurred With the great
statesman, and honored him for making the decla-
ratiJn. he knew there were many who thought
the Tariff would restore prosperity TO the country
that all the evils uncer which We laborng are
TO be dispelled by this measure. He said he was
not among the number who thus thought. tell
you, my fellow si,zens, said MIR c., that the Tariff
a'one, without the aid OF institution that shall
furnish sound circulating medium, or regulate the
currency, cannot restore prosperity TO the country
nor confidence among men.
II ui far, he sa'd, MIR Webster and himself wen,
together; but at this point their roads forked. lie
thought he once knew Mr. Webs;er's opinions: he
was iormsry the champion and defender of the
Bank Of the United States. he was the man above
all others who resisted Executive usurpatiou.-
| Again in 1887, shoulder 10 ihoulder with Henry
Clay, he opposed the Sub Treasury, and other CO.
serrmental ecntrvanees a. succedaneums for Na-
| tonal Bank.
MIR Clayton now read several extracts from
speeches made by Mr. Webster in 1887, and at other
times. wherein be declared himself in favor OF
National Bank, and opposed TO the experiments
proposed by the administration as substitutes
Among the objections made to these by Mr. w. was
the FAC, that they were TO be government insliiu.
tons, and under the control and management OF the
Federal government. Mr. G. then compared these
i opinions with those lately expressed by Mr. w. in
his Fanuiel Hall speech, in favor of the goverum
| Exchcquer Scheme recommended 10 Congress last
winter: and, If not the plan Of Mr. w. himself, he
had avowed his entire approval Of il. You all
| kcov, said Mr. c. what that scheme was-an eI-
chequer-a government bank with fifteen millions
| capital, and God knows low many more. How
comes 1t about that he has al his Old noions
OF banking and has resoritd to- will not say the
very scheme be once so strenuously denounced, but
bad as that VS., one ten times wosse7 He says he
| has read oil the works upon finance ard banking,
an knows that if tried, his EIchequsr Scheme
would restore a sound currency to the country.
Now, said MIR c., have not so much know edge
on this subject as Mr. Webster doubtless. but have
| read and studied il pretty auentVey for the last
ten years, and | feel bound to say that this Elk
chequer scheme is the very last would propose
he looked upon it rs q scheme of Executive power.
Instead OF laying duties TO meet public expenses,
especially in a case Of emergency, Congress would
authorize increase OF the capital Of this Exche
quer, and go on using lis funds until debt equal to
that OF the British nation might be accumulated
This scheme, MIR c. said, had failed to gain the
spect and support OF any body Of respectable men;
and even "the CorporsPs Guard" refused TO stand
by it.
Mr. c. read further extracts from Mr.. WIS speech,
IN which he declared he went for bank and moth
| ing bu, a bank; now in his Fanueil Hall .pleeh he
says the idea Of National Bank is an obsolete idea.
| How long, MIR c. asked, has the idea been obso-
ete7 We had had bank, the charter Of which
was signed by George Washington; we had had
another signed by James Madison; and with these
the country he'd been for forty years prosperous
| He declared himself satisfied with what had been
tried and found good, and that which good
enough for those old fash Toned men, George Wash.
ington ard James Madison, was good enough for
him. There were some who pretended 10 be very
wise and deeply read, who pronounced a National
Bank OBSERVATION-DISCLOSURES these men were
mUc1 wiser than Washington and other trainers OF
the Constitution and knew better What hat Consli
tuition intended 20 be than those who made i.
Mr. Clayton spoke of the Institution called the |
United States Bank, in Chestnut street. as nothing |
but State bank. He never believed this Bank |
could or would perform the functions OF National |
Bank. lie did not desire 10 censure any one-he |
did not csusure any one-but he had a right TO say
that he not only never had confidence in that IN /
ST tutioR himself, and had never owned dollar Of
its stock or dea with II N any mlnner but he lad
expressed bis wat Of confidence IN il to his friends,
When askedwhy twould rot perform the functions
OF a National Bank, since il was managed by the
same men, and had the same capital assets, eic, he
had given his reasons by comparing il 10 O seventy |
four gun ship upon 4 mil! pond. Upon the ocean !
she could perfon the duties OF National ship; but
upon a mill pond with the same complement OF men, |
the same armament, the sans assets, If you please,
all she could do would be 10 20 pkng up the pond,
andt hea come psrching down again.
Mr. Clayton spoke Of MIR Ewlng's bill or pan, |
sent to Congress, at the Extra ossion, and com
nen,ed on Mr. Webger's remark, that the obiec-
ton made 10 that bill 4 theoretical objection
and that the omission to exercise a power was not
surrender Of the pcwer. In reply to his observa
tons, he read further paragraphs from one Of his
former speeches. Well did he remember this ma ..
terly speech, which, he said, was made by Biz Web
ster, when he true Wing lie did not say
he was not one now. He (Mr W. says he is q
Massachusetts Whig-lhere were non. better and
he says If any one attempts TO read him of the
party they must take that they do not get out
| first. Now, my fellow citizens, said NJ T.. I shall
not attempt any such thing. | hope Mr. Webster
will long be Wing, and true one. / can tell him
that ], TOO, nm Whig-a Delaware Wh'---and
one Of the Blue Hens Chickens, and defy him % any
o;her Daniel come 10 judgment 70 read me out lie
asks what is 10 come OF hlml can only gay, | find
private life and attention 70 my professional business
quite Bgr0sabe. For one, however, should be sor-
ry the country thoull be deprived Of his services 50
long as he is as good Wing as he Q few years
ago. [Cheers
Mr. Clayton noticed nnd rsfuted various objections
TO National Bank, rideuling, with good dsal Of
caustia satire, the idea OF danger from the fact Of
the stock being owned by foreign capitalists; long
Il under cur own eOnro.
o the subject OF the Bank, Mr. G. said he wished
10 be understood ss speaking Tor himself alone. lie
was like tie soldier AZ yorktown, Sho fought on
his own hook.
MIR G. noticed thoIem,rk OF Mr. Webster, that the
Tariff was passed by locJloco vote; in reply 10
which he said that the Tariff was a WhiE nsure;
and he showed why Il was that some Wings were
70 md voting against the last billie ause u had
yielded as they thongh, & Executive a zion, az d
given W the Distribution Of he proceeds Of the sales
oi the Public Lands, another Wing measure.
lie then took up ard discussed the subject Of the
distribution Of tho proceeds Of the saeo oftbe pu5le
/ ands md showed the Importance o. the measure 10
i 49, aTa arw = IT. 4 a.