The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-10-04

10 be attempted When the Exchequer was present.
ed TO Congress il assailed from all quarters
believe gentleman did get courage 10 say III It's
favor that he did not know but after all 10y some pos
sibty some good night come OF IT. bui II had ma
nv different classes Of opponents some said 'hat IL
would be lifeless machine--it wouiu not move al
all; others said il would have by lar 100 much lie
il would answer the purpose OF It's ~ .na'
was To increase Executive power One found II King
I oo and The other King Serpent One indicted il as
tsrri6c giant of enormous magnitude, strding over
and crushing the liberties of the country; il would,
therefore break the Constitution, and therefore they
would oppose IT, 49,. go
ref,se each other, and convinced me that the plan
could not be adopted, nor temporarily consider
"a One was afraid to do one thing lest he should
break the Constitution, and another was afraid TO do
another lest he should break it, they did nothing
One man would not vote for a Bank which had the
mower establish branches lest he should break the
Constitution; and another would not vote for one
which had not, lest that he should break it. They
acted like boatman, who in the midst Of rocks and
shoals and whirlpools, should refuse to pull one
stroke for his SAFETY lest he should break his oar
But they stood looking forward to the time when
stored confidence should enable the Bank to go into
operation. When will this be- When prosperity
returns to the country that is when the emergency Is
over. Meantime they intend to do nothing to save
the ship from sinking till the chances of wind and
wave shall drive her safely on the shore. That's the
policy
He is more sanguine than am who can see any
time when the Wings Of the country will have more
power to work. to effect the grand object--restora-
ton Of the currency-than now. This very moment
at the approaching session, the country calls in
the loudest voice upon the patriot not to put of-not
TO postpone--but to make the best use of the means
IT, our hands. There is a measure to which the Pre-
sdenl is pledged, and his advisers approve Why
not try it, and if it fails let the Administration bear
it. If you will not try it, propose something else.
Ia the events which have happened i ought 10 say,
and will say because since have begun will make
free communication, man TO his fellow man, of
NV opinions, and one OF my age (and am not
am ong the youngest) has written and spoken more
against the indiscrminate OF the Veto power than
Il and no mans opinion on that subject is more I'M
changed than mine. II is universally known sup
pose-and if not it should, and shall be, that adj
ysed against the veto in all and in every case in
which it has been exercised by the President. Re-
peated cheers.
But while have done this am not willing to give
up this great object for the sake of making up case
against the Pre- ident cannot sympathise with
those Wings, who in full possession of powerfo
tain objects, attempt nothing and will attempt
thing until they constitutionaly get rid of the
Veto. 1t seems like mockery of the expectations
of the Wings Of the country.
There Il no probability that the Veto power will
ever be struck out of the Constitution altogether.
There must be such restraint in this as in other
cases The people of New York have determined
tina, certain acts shall not become laws without vote
Of two-thrds, and have thus imposed upon them
selves similar restriction. The rule Of the House
can only be suspended by vote of two-thrds. The
Veto then, greater rest amt than they lay upon
themselves.
After all the great objections to this recon-
mended by some Of my Wing bre hren is that il is
utterly hopeless. Who expects 10 see the day when
this restriction of the Veto should be brought about
Before restoring prosperity to the country, they must
wait for an amendment to the Constitution | will
not say that this is trngbut it is treating the in
terests of the country with far too little regard
repeat that now is the time, and the Wings are
the men TO accomplish the great objects for which
the people, the Wing people, have striven for the
last ten years; and till this is done there can be no
restoration of our former prosperity; and say that,
in my opinion, the plan proposed last year will effect
that result If mechanic makes tool--an axe, a
saw, plane--and knows that its temper is good and
the parts properly constructed, he knows it will an
swer the purpose for which it constructed and
| know this will.
On the other object to which will barely allude,
but which is one of so much Importance that can
not pass it by; | mean the Notifying ate of the
public credit OF this country. cannot help thinking
that if the statesmen Of past ages were again to come
among us; if Washington here, and John
Adams, and Hamilton and Madison, they would be
deeply concerned at the sad change that has come
our public credit.
am in situation in which am obliged to read,
generally, with pleasure-but not always commune
cations from our agents abroad 1t is distressing
to hear them speak of the pain they feel what they
see and hear said of American credit. We have
stock loan the present rate of which is l25 to the
silver dollar. Is there nobody to make a move in
this matter! Is there not in councils large
enough, comprehensive enough, to present the case
before the American people, and show them the inc
vtable consequences of this loss of public faith-of
public credit may say of character for morals
and honestly
Some are so ndiscreet as to talk of reputation -
kepudlate debt Does reputation pay debt =
does 1t discharge the debtor Is the law Just as
permanent and infexible and enduring until the debt
paid or discharged And is not a debt always
binding in law and in marals' Our people should
not deceive themselves Reputation only adds a
disreputable acknowledgment to the disability 1t is
our duty, SO lar as is in power, TO rouse public
ieelng-to maintain and assist the beneficial n1u-
ence OF law and morals, and preserve our faith and
credit. People say that The intelligent people Of
Europe ought to distinguish between the State and
General Governments. And they ought-and
what then All government is of the people and
II the States repudiatc their debts and find no re-
buke, Europe may ask how long will it be before the
National Government will, unrebuked, repudiate her
debts
do not say what the Constitution authorizes Con-
gress to debut only that if the principles recognised
as true by that body, and the public land fund be
really the property of some of the States Of the
Union, here is beginning for some measure of re-
gular and Constitutional aid whereby the States may
save their credit and the credit of the People.
have detained you too long. In my Judgment
there remains certain important objects, fit to engage
the attention of both public and private men, Let
me remind you of the questions with England--the
prosecutions 81 the claims of citizens on foreign
governmentsAthe question Of reciprocal treaties
the colonial trade-the most absorbing subject of the
currency, and the great subject of the restoration of
the national credit and character To these obi cts
am ready to devote my life either in public or pri-
vale station. do not expect, gentlemen, that much
of public service remains TO be done by me, but
shall be ready for the promotion of these Objects TO
act with sober men of any party and Of all parties
There is danger that patriotism in a warm party
contest raay be merged in party feeling. believe
mat among sober men this conviction is growing set
tediast growing settled, that the great interests of
The country require far more moderate party feelings;