The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1842-10-14

in the principal cities of the Union. need hardly
advert TO the circumstances under which it was
presented. II had received the appreciation of the
President and the Cabinet, as the best thing that
could be then devised, for rs You well know cir
cumslunccs had mcatly changed since the election.
1t had pleased Providence to put into the first Of
fee Of the Government, one whom we had placed
in the second and whom we considered cOmpe
tent for thai station.
His principles on the question ola general bank
were fixed aud known, aud it WAS therefore the
pat Of wisdom in us 10 see how to get along as
well us we might. 1t was exceedingly doubtful
whether if bill passed TO charter private sub
scrpron bank, the stock could have beer taken
4 mp. We had asccr,aiUcd his from the hest mlnr
med individuals Of the larger cities, and when this
plan was submitted 10 their consideration, though
they expressed fears to the contrary, they enter
tanned some hopes that it might he established,
The bill did not allow branches of the inslitu-
ton to he located in any State without the consent
orlhat State Government, aud though thought,
and others thought, such provision wholly immu-
larul, it was inserted in compliance with the views
of those who maintained that the omission To eXcr-
else such power Amounted to its remuneration,
had no such idea, or that the consent III the States
was necessary. But the plan was drafted to meet
the views Of those whose action and scrutiny it was
10 uhucTSo, Hhu as INC administrator was new ana
popular it was desirable 10 provide something ms
nearly complete and perfect as possible, 1t was
at last rejected. Another bill was brought in, and
after discussion ofsi weeks it was found that il
could not even pass Wing Senate, need not
pursue lha unhappy narrative, Men then were
angry and rc,culru. saw the storm, aud had
cndrayorCd, 50 far as was in my power, to avert
il. Nv advice was to i0rbenr--to dcldy--to give
people time to cool, and to the two Senators from
This State, rs has already been made known TO the
public, earnestly expressed tins opinion. am
bound 10 believe the advice was not good: ctr-
,alny il was not all Io'owcd--und the consequent
ccS have been whlt supposed and what all have
seen.
+ This brought Us 10 the commencement ct the
last session. The Secretary of the Treasury, then
communicated 10 the prc>ldrn', the plan OF an
EXrhrqucr. 1t was sent to Congress, where 1t re-
ccvcd very IIllc Favor. And II IS necessary inr
me, lest the whole hnldcn Of dlsIa'or, should Tall
on others, to say that the measure met my hearty,
sincere and entire approval. | hope have not
been in the habit OF umnlicSimg an OtcIwCcnng
confidence in my own Judgment, or an Unrcnsouu-
bic aversion towards taking the advice Of friends,
Eul there arc some SUBJECTS upon which !muNI be
allowed to have, and to mold my own opinions
The subject Of Currency has been the study Of my
litn, Thirty years ago, the question IN all lis hear
ng', the relation fpgpnr to specie under all cir
cuus'dnaes, was discussed in the Parliament Of
f Eugnnd, hy the hriaac, mlc.ircjs in great Elil-
aiN, The lauous resolution Of Mr. NunirIopl, de-
c'ayiug TINT bruN noIc waSalways worth as mach
as it bore upon lis frc, and insisting That it was
not the bank unc that hud Grprrrmlcd, hut the
bullion that had ri,cn, WIS debated. THAT side
was rspoUsed, rs yon know, hy Lord Liverpool,
Lord Cds'c,cah, VI Rhodes, aud other eminent
Individuals, while ON the other side was the pow
rrlul logic of Nroughnm and the acute good sense
! Of Emi' - now Lord A,lhurtun.
The result Of that discussion muda ne a hull
+! Zionist, and wps Thoroughly convinced that paper
cannot safely be circulated any longer than il is
mmcdHrr,y radccmahlc at the counter whence il
is issued. Coming shortly afterwards into Con.
err.s, bestowed myself 10 the consideration Of