Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-08
Wednesday, Jan. >, lsi2.

The House adjourned.
Ue0nesday jan ), lSi1.
IN SENATE.
The PRESIDENT of the Senate laid before the boz
dy communication from the General Post Office,
showing the expenses oil The contingent und Tor the
PROPOSED BOARD OF EXCHE0UEE.
The motion reference Of the report OF the Secretary
Of the Treasury coming up as the unfinished business
Of the Senate
Mr. MOREllEAD said he did not rise with any pur-
pose of presenting his views 9Th upon the question
now under consideration. The main points had been
SO ably discussed by other gentlemen and fully too,
that he should not stop TO debate them lie would,
however, offer some few views upon the report and
project Of the Secretary of the Treasury they had
been submitted for the consideration Of the Senate
e differed in his views from gentlemen as 10 the
proprietv Of this debate. Gentlemen had SAID that we
must wait until committee had reported, until they
had revised the subject, and acted upon 1t IN all us
bearings On the contrary, II seemed TO hm eminent
" proper especially if the bill was TO undergo any
material chance that it should be now discussed The
subject was OF high importance, involving great ques
tons and those Of all sections Ut country
and all classes of people. 1t demanded, therefore, re-
spectiu and deliberate consideration al our hands
Whatever might be the diversity Of opinion in the
land the of embarassments, there were
no differences TO the fact Of existing evils con-
dton of things unfortunate, so excrncatlng calls
at the hands of the Legislators for some acton lie
knew that at the extra session OF Congress tue question
whether the late President OF the u ). would would
not give his sanction such institution the Peo
pie required was u matter of debate The People how
ever, II was clear, required some institution when they
contributed to change Of Administration
Whatever might be the opinions OF other sections OF
the country he could speak at least Tor the West For
years they had been a5orng under the sevcrcs ebar-
rassments under dsordered currency, and under de-
ranged exchanges all of which operated as enor-
nous upon the people. The commercial intercourse
Of the West was mainly carried on with the Eastern
and Northern States The people of the West dealt At
Baltimore at Philadelphia, and at New York, when
they had purchases 10 make. The South was market
for hemp, tobacco, and other commodities produced al
the West After the defeat Of the Bank of the nited
States, the people had resorted to State banks They
had contracted then under this system, large debs-too
large perhaps for men who should be cautious OF their
means They had expended vast sums of money IN
works Of internal improvement. But, whatever might
be the fate Of those works. he trusted that all the States
ofthe Union would remain faithful to their engagements
Such being the relation Of the trnde with the West,
and the Eastern banks paying specie, 1t operated upon
the people for evil and on both sides. The West
was indeed surrounded by n two edged sword-a
worse currency at the South and better currency at
the East. 10 the South the West was the producer,
and to the East the purchaser and such was The inc.
quality arising from these two circumstances that Tie
West suffered from the existing state ofthngs in both
Mr. NJ. said he had heen informed that the annual
amount of money paid BY the people of Kentucky alone
was half million of dollars in exchanges. 1t tins
were true of Kentucky alone, estimate might be
formed Of the tax paid by the West in the other sec
tons ofthe country There eight States known
as the Western and Southwestern States-Ohlo, lndi-
ana, Kentucky, Illinois, Arkansas, Missouri and Mis-
sissppi. If Kentucky paid half n million, The other
States averaged about the amount and paid sum
equal to four millions of dollars. AS the relative trade
with the East about the same he presumed the es
innate proper In addition 10 this, those States
had Ia m Their indebted.
ness S6O000,000. They had TO pay $780, 600 OF
interest money, at SIX per cent, which per cent al
least the rate of exchange, and often The rate was
higher than this and differed two and two and
half per cent. the river. The great West
now filled up rs il with hardy, vigorous, and in
dustrious population, had 10 pay this enormous tax,
drawn from them for the exchanges and ALL he
tended, attributable TO o deranged currency. The
people believed that national currency was TO &c
had by National Bank such an institution they
thought would remedy all these evils. Can you wonder,
them (sad Mr.. NJ that they felt keenly at the extra
session of Congress, when this subject was agltated
here with much feeling and with so great sacrifice,
The people of the West had contributed TO their ut
most in support Of that distinguished individual now
the head Of the Government They had rushed like
the mountain flood TO his support Kentucky had given
him and his iustrlous associate greater vote than
before and that too opposition TO the preensons
of one Of her own respected and iavore sons. They
had confidence in the President of the Y. S. They
knew tina, he was Wing, the nominee of Wing Ma
tional Convention, and, above all, that he Vir-
gnan. Kentucky had doubt of him, and if she
yer had those doubts dspelled By the inaugural
letter of the President Of the L. S 10 the American
People But (said Mr.. NJ will not stop here to com.
upon those disappontnents at the extra session.
which, however great, did not dishearen the Wings
TO prevent them from looking to another session Of
Congress in the hope that some ofrelief would
he proposed But they had been disappointed; and it
was sad spectacle, after twelve years struggle, TO
see that party suddenly overcome and Frustrated, it
was 1t was not, therefore, by any means surprising,
that the fall elections gave good Democratic friends
temporary triumph. With what heart could their oppo.
nens come the contest under the appalling prospects
around them; They did, nevertheless look 10 the pre-
sen. session Of Congress for relief but they not pre-
pured TO leap any which might be proposed
They were ready TO unite to accomplish whatever
sure could be accomplished consistent with ihei. for
mcr principles lfthey had done could 90 this, they
would have been Justly liable 10 the impu,ation Of the
rrosses inconsistency, and would have deserved loss
of confidence. But had the promised scheme
of the President before and there objections
in bis humble Judgment, at the very outset, without
| looking at the details of the measure. II was manes
rpo lis face that it had proceeded from the Executive
and obviously the tendency Of the measure 10 BIZ
controlled BY the Executive. The ccntes. Of lS40 wal
10 break down all barriers which might intervene be
tween the Government and the People but the Score
,sry CT the Treasury, though properly the otncer