Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-01-08

| oi his own selection, dependent upon him. and nc
| countable 10 him; and what may you not appre-
| hond
| Already the Constitution has given him the sword
He has an "army of officehoders," rs has becom,
! a proverb. Give him now the revenues OF the land
and who would answer that he would not pcrpetueh
his power. Who will say that some Cesar or son,'
Napoleon will not rise up among us and grasp Tho
| Treasury OF the NATION for himself have beer
| reading (sad MIR Morehead) the warning voice o
our ancestors. have read from the patriotic Pat
rick Henry that there was state of things so had
| as a union of the purse with the sword. have
learned from them, too, to trus, power in any
hands where it may TIC used against the People; and
oppressed and embarrassed as we are, overwhelmed
with misfortunes all hands, discaim oil connex
ION with il now, henceforth, and forever. | regard
| the dangers outwcishting all benefits. Whatev-
er its benefits or virtues may I've, 1t contains de-
forming feature. II has. Patrick Henry has siid
an awful squirting" 1t squints at power, and
canno, trus, such power in any hands.
IL were to return To nay constituents, and say
that we had agreed TO frame Il bill ike this-tha,
We had become reconcied one with another upon
such platform-thai, as the mountain would no,
| come TO Mahomet. Mahomct had gone 10 the noun
| tain-that We had rejected n Bank OF the United
States, and given you panacea in a bank OF fifty
one hundred, and two hundred millions of dollars
harassed and oppressed and almost crushed to death
as they are, should hear from them but voice
and the voice OF party would he lost in that the cry
of universal condemnation at the course had plr
| sued.
| "Bctcr 10 bear the ills we have,
Than ny 10 others that VIC know not or"
| We would I've free rather than prosperous.
Ii, then, the principles of the Wing party can.
| not be maintained without resori'ng to any such
plan 10; them perish. We arc told 10 compromise
Who} The Representatives of the People TO CON-
promise 10 the Executiyel No, sir; no. sir. an
| willing to concede much, have conceded much;
but never can sacrifice 10 power principle like
this.
The author Of that rcnort Lcforc you NJ, p,cs
dent, knew that its principles had been repudiated
for ten long years by the Wing party. And sup
posing, sir, our quondam President, Mr. Van Blu
rem, when the fortunes of the Government were as
they now arc-supposing that then Mr. Van Buren,,
instead Of recommending sub Treasury scheme,
had recommended this scheme, would the Wings
have recommended this aso-part SUBJ Treasury
part Bank Of the United States and part a State
bank system, as 1t is. The Wing party would have
denounced and repudiaied il as they did when 4,
was proposed years before by Genera! jackson.
And you cannot, said Mr. Morehead, even make
this the basis OF an institution. There was moth
ing good IN II which was safe to adopt. And vet
what was the remedy for all the evils under which
we suffer- have seen il intimaicd in some Of the
public prints tina, this was iactious opposition
that II was this plan nothing. lfso, the fault was
not here. II there was any remedy, we were TO
call upon the President of the United States to com.
promise. Let him set an example of liberality and
Of nanimiiy and his word for il CONGRESS yopld
bow down TO him, and yield the ground upo. which
II had stood, he could be gra,ifed Self respect
and cherished principles forbade it..
MIR NJ in conclusion said he thought il a source
OF great congratuaon that this scheme had been dis.
cussed 1t had been here He congratulated the Sc
nate and the country that of all parties had raj
lied rs one man in defence of common principle
and IN the resistance OF measure endangerns the
liberties the People
Mr. SIMMONS, OF Il. Island. said he did no, rise
fDr he mn -OfrO H..
this question Of reference, which It would be temeri
ty IN him TO attempt, after the very able ana elo-
quent speeches TO which he had listened from, tho
most distinguished members of the Sehtte of both
political parties Ills purpose in rising was 10 sus.
eest TO honorable Senators, after what had bean said
IN reference TO the plan proposed by the Execu-
tive, (which d so fully developed the views OF all
who had expressed an opinion upon uasitisO
whether there was not another aspect in which both
the report and pan could be viewed: and if II would
not now he profitable for Senators to turn their at
tenton TO the Pan, to see what could he done under
the suggestions which il contains. lie had asked him,
self. what DO we wish to do7 and by that he meant
what do the People wish should be done for their
reeil And he had examined this report and plan
to II relief could he given within the rance oCjts
suggestions and provisions, and with great dliiience
in his capacity to lndge of such questions, he be.
lieved that relief could be given.
We want (said hel an institution for currency
and exchanges. think even more, but nothing
q
siace 10 obtaining this hereioiorel We all know i,
has Ueen the constitutional objections OF the Pres-
dent TO National Bank 10 operate per Sc over the
Unlon There is no such objection TO the proposed
EKchequer It IS declared 10 he Bank; of course
no such objection exists TO it. If 1t is not such
bank, with the control over it placed in the power
of the Executive, It would not DC If that control
were placed elsewhere. The mere power To con,ro,
It does not alter II IN other respects; and apDears
10 me all the objections which have been urged
against the whole plan would be removed by ater-
inc that single proyiso all the dangers arise from
the apprehended increase of Executive power. We
certainly cNn alter il ia that particular and from
what has been said during the debate il mus, he so
altered to obtain any support. Every one who has
expressed an opinion objects 10 IT, and chiefly and
Justly think, on that ground. Those expressing
the highest confluence and strongest personal re-
spect for the present Chief Magistrate EXPRESS tho
strongest objection to this provision. Those bv
whose eIerioas he was elevated to power and those
who opposed his elevation agreed in opinion. and
denounce tins feature as in the hghes, degree dan.
gerous.
There is now n remarkable coincidence Of onioion
among Senators of both parties concerning the dan
ger Of placing the control OF the revenues the fiscal
concerns anc TIE currency OF the nation. within the
'ower Of the Executive. My political associates
mi myself have commended against II for the last
en- years. The other party oppose il with eoual
,ell when II comes to be proposed by any others
han those OF their own party. have read some.
where tina: Is great good be able "to see orr
elves others see u.s. Our po'rica' opponents
nave obtained H. This proposition not coming from
hem, they look Of ias We did theirs, which had
he same effect, and as strongly oppose IL. The
People, therefore, have cOnsling reflection amid
heir dlsress-that their Liberties are s,fe s, far as
'enger has existed from that quarter If their onno
1enis act consistently with their present professions
Another important inquiry 49, shall we endanger
he success OF the measure by making such an nlte
atom trust not. 10 carefully looking over the
message ofihe President find thnt he Ell ,ing /,
lpon Cnngtes9 10 relieve him from controlling
power over the public treasury, and If in this plan
which he proposes, that paraon is not rs complete
IS We desire TO amend i. There is nothing in the
message which shows any other than desire To ba
reed from this control, or to give reason TO doub,
rs sincerity. l. dlsclams all desire Tor any other
control over the public moneys than what is indis-
pensaDie 70 execute The laws There IS nothing.
then, m the way OF tas alteration OF the plan which
endingers lis success, % Congress can make IL
THIS difficulty removed. are the powers proposed to
DC gwen ahd exercised by the ETchequer sufficient
TO give rcl'ef1
j, is to receive deposites, 70 issue p,per et all
times convertible into specie, and receivable for nil
Government dues as currency, and il is 10 deal In
bills Of exchange. 1t is clear th3t these are to be
It's powers, and we have no doubt Of the rover Of
this Government to confer them Oh an institution
properly constituted. We believe these off neces.
sary to the successful carrying on Of commerce be
tween The seyeral Statev. IL was asked Nv the
honorable Senator from Pcnnsyvania, (Mr Bueha.
nam where was the constitutional rover for dom,
th'sf " IS only necessary TO refer to the unan.
s"ereu u not unan5"enble argument Of the Hon.
Senator from Georgia, (Mr Bernen) az the last se,
sion upon that point.
II paper can be circulated Tor a currency. under
the authority Of this Government without c,oital
90 the institution which is 70 redeem II, il can Ger.
amy be more safely done with q capital Such