Independent Democrat. [volume] (Canton, Miss.) 1842-1844, 1842-10-22

was exclusively used by the States, and the
notes of the banks incorporated by them.
which could not be converted into specie,
and were deprecated, according to circum-
stances, from one TO twenty per centum,
constituted the currency in which the public
dues were collected, the public creditors
paid, and moneyed transactions of the coun
try carried on. After full examination of
the various remedies proposed for SO fear
fuI disease, which threatened the Union
itself, it was believed by the committee that
the only practicable means Of restoring a
sound currency and placing it under the
constitutional control of the general govern
mcnt. was the establishment Of q bank Of
sufficient capital on sound principles, bound
to redeem their notes in cash, which, by It's
influence and aid, would at once compel
and assist the State banks TO specie pay
ments A bill in conformity with this be-
lief was reported by Mr.. Calhoun, and with
such forclbe arguments did he sustain it, SO
clearly did he demonstrate the unconsttu
tiona condition of the currency, 50 mani
fcstIy did he prove its danger aud injustice;
and that there was no other feasible remedy
in the power of the house, that in spite CT
the opposing influence Of the State banks,
the constitutional scruples of many of the
members, and the resistance Of number Of
the leaders Of the opposition, he succeeded
in efiectng ble passage Of the bill, though
it was well ascertalned that a decided ma
iority were opposed to it at its Introduction.
OF this powerful speech nothing remains
but an imperfect skeleton.
Besides the revenue bill, which gave
rise To debate on the state Of the Union,
involving discussion of the policy of the
country in time OF peace, in which Mr..
Calhoun made one the NEST splendid dis
plays of parliamentary elOquence ever eX-
hioited before Congress; other important
subjects arose, in all of which he took a
prominent part. Bat the lofty course pur-
sued by him in regard to the 'iamous
compensation law," very strongly marks
his character, and may, perhaps, the best
Judged Of, from the following eulogum
pronounced 10y strong Poiitr0at uPppnenI
Mr.. Grosvenor said she had heard with
peculiar satisfaction, the able, manly, con-
stitutlonal speech of the gentleman from
South Carolina" Here Mr.. Grosyenor,
recurring in his own mind 10 personal
difference with Mr.. Calhoun, which arose
during the war-paused moment and
then procceded--"Mr. Speaker, will not
bo restraincd--no barrier shall exist,
which shall not leap over, for the pur-
pose of Offering to that gentleman my
thanks for the judlcious, Independent, and
national course which he has pursued in
the house for the last two years, and par
ticuary on the sub ject now before us.
Let the honorable gentlemen continue
with the same independence, aloot from
party views and local prejudices, to pur.
sue the great interest Of his country, and
fulfil the high destiny for which it is man
ifest he was born. The buzz of popular
applause may not cheer him on the way,
but he will inevitably arrive at high and
happy elevation in the view Of his coun-
try and the world"
In December, 1917, Mr.. Calhoun was
appointed by Mr.. Monroe to the office Of
Secretary of War. Here was new the
atre; his congressional career of six years
had been brilliant; as legislator, and as
an orator he stood on a proud elevation
before his country, and now his capacity
for administration was to be tested. Such
was the deranged state of the department,
the vast accumulation of its business, and
its imperfect organization, that many
friends oissuaded him from occupying
post of so much danger. Space will not
permit even a sketch of the history OF his
administration of the war department
during seven years. He found ii in all
its branches, in confusion, and left it in
complete order. He found upwards of
forty millions of dollars of unsettled &C
counts, which he reduced to less than three
millions, and he completely prevented all
further accumulation by the uneXampled
exactness of accountability which he in
troduced into every branch of the dis
bursemcnts, and in consequence OF which
he was enabled to report to Congress In
1923, that, Of the entire amount OF money
drawn from the treasury IN 1922, toI the
military services, including pensions, a.
mounting TO four millions five hundred and
Seventy-one thousand nine hundred and
sixty -one dollars and ninety-tour cents,
although it passed through the h1nds OF
two hundred and ninety-one dsbursing a
gents, there had not been single detail
cation, nor the loss of cent TO the gov
ernment: and that he hal reduced the ex-
pense of the army from fosr hundred aud
fifty doirrs per man, to two hundred and
eigbty-seven dollars, and thereby saved to
the country annually more than one mil
lion three hundred thousand dollars.
1t is to be remembered that all this was
done under adverse circumstances; vi hen
Mr.. Calhoun. who had been brought for.