Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-10-07

This country, the Constitution only excepted
(Cheers.) | mean that they should take il as it
came from the Cabinet, not as it looked when the
Committees of Congress had laid their hands up
on it. U4aughtsr,) For when the Congress had
struck ont the proviso respecting exchange, it was
not worth a rush, 1t was not worth the parchment
II was engrossed upon. The great desire Of this
country is general currency, a facility of ex.
change currency which shall he the same for
you and for the people Of Alabama, of Mobile
and a system of exchange which shall equalize
credit between them and you, with the rapidity
aud facility with which steam conveys men. That
is what the county wants, what you want, and
YOU have not got it, You have not got ii, you
cannot get it, Exchange, ready exchange that
will enable man TO turn his New Orleans means
into money to-day, MS we have hnd III better times
millions year exchanged, ut only three quar-
tiers of one per cent, is what is wanted. How
are we going to do III bank OF the United
States founded OH private subscription is out of
the question. That is an obsolete idea. The
country and the condition of things ahas changed.
Suppose that bank were chartered With capi-
tai of fifty millions, to be raissa by private sub
scription. Would it not he out of an possibility
What would you get for shares? And MS for
the local discount, do you wish it? DO you in
State street, wish that the Nation should send
millions of untaxed banking capital hither to in
crease your discountsY What then shall we do
People who are waiting for power to make bank
tempts u benefit the country 10 the coming OF the
Jews. (Laughter)
What then shall we dos Let us turn to this
plan of the Exchequer brought forward last year."
"Are we now looking for the time when we
can charter an U. States Bank with large pr-
vate subscription? When will that be? When
confidence is restored. Can we do nothing to
save the sinking, ill the chances OF winds aud
waves have landed us on the shore !? lie IL more
sanguine than am, who thinks that the time VIII
soon come when the Wings have more power to
work effectually for the good of the country thnn
they now have. The voice OF patriotism calls up
on them not to postpone, to act at this moment nj
the very next session to make the best Of their
means and try. (Cheers) You say that The Adj
ministration is responsible! why not then try the
plan it has recommended If it fails let the Pres
iden bear The responsibility. II you will not try
this plan why not propose something else?
"Genteinen, in speaking OF events that nave
happened, ought to say, and will since am ma
king full and free communication, (cheers,) that
there is no one Of my age, ,nndl I'm no longer
very young,) who has written or spoken more a
gainst the abuse and too frequent abuse Of the We
10 power than have. (Cheers.) And there is
no one whose opinions on that subject are more
unchanged. Renewed cheering) 1t ought to
be known that have advised against the use of
the veto power on every occasion when it has
been used since have been in the Cabinet, tire
menduous cheering) But am, nevertheless, not
willing to Join those who seem moro DESTROYS to
make out.a case against the President, than ofser
wing their country TO the extent OF their ability,
vetoes notwithstanding. tCheers) Indeed at
the close of the Extra Session, the received doc
trne of many for a time seemed to be that they
would undertake nothing until they could amend
the Constitution so as 10 do away with this power
This was a mere mockery If we were now re-
forming tho Constitution, we might wish for some
l do not say what, guards and restraints upon this
Nya hnfp mr. mi Wnpl1 m I'LL
ing it out altogether. Have not the people of
New York lately amended their Constitution so
to require in certain legislative action votes OF
two-thirIs and is not this same restriction in
daily use in tho National House of Representa-
tives itself, in the case of suspension of the
rules? This weighty power is no greater res
trant than this body imposes on itself. 1t is Ut
tcrly hopeless to look for such an amendment
who expects to live to see its day? And to give
up all practical efforts, and to go on with gener
al idea that the Constitution must be amended
before any thing was dono, was, will not say
trihing-but treating the great necessities Of the
people as of quite too little importance. This
Congress accomplished, in this regard, nothing
for the people The Exchequer plan which was
submitted to it, will accomplish some of the OBJ
jecs of the people, and especially tile Wing peo-
pie. / am confident of it, | know it, CHEERS.
When mechanic makes tool, an axe, a saw, or
plane and knows that the temper is good, and the |
parts are well proportioneG, he knows that it will
answer its purpose. And know that this plan !
will answer its purpose Cheers"
Mr.. Webster then alludes in fitting terms to
the deplorabe state of public credit and the mon
slrous doctrine OF Reputation, and concludes thus
8kseremen, have detained you much too long |
i have wished TO say, that in my Judgment,
there remain certain important objects 10 engage
our public stention, in the national affairs OF the
country. These are, the settlement of the remain
ing questions between ourselves and England the |
great questions relating TO the reciprocity prin-
ciple those relating 10 colonial trade the most |
absorbing questions of the currency, and those
relating TO the great subject of the restitution off
the national character and the public faith these
are all objects 10 which | am willing to devote
myself, both in public and in private life. do
not expect that much of public service remains
to be done by me, but am ready for the promo
ton Of these Objects TO act with sober men Ofany
and of oil parties. / am ready to act with men
who free from that great danger that surrounds
all men of all parties,-the danger that patriotism
itself, warmed and heated in party contests will |
run into parIiZsnship. (Cheers.) belive that a.
mong thef Dber men Of this countrywide is grow
ing desir for more moderation in party feeling, |
(cheers) more performance of purely public
considerations, more honest and general union Of
well meaning men of all sides to uphold the in
slitulions Of the country aud carry them forward.
(Choers
In the pursuit of these objects, in public life or
in private station, am willing to perform the
part assigned to me- and TO give 10 them, with |
hearty good will and jealous effort, oil that NAV
remain to of strength and health.
Mr.. Webster sal down amid tremendous cheer
ing.
For the Watchman and Journal.