The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-03-16

INTERESTING DEBATE IN THE SEN
ATE

ATE.
Our Washington correspondent, in the
follosing letter. gives a spirited account OF
the interesting debate IN the Senate yssler.
day on the state Of the country:
Wssliagios Correspondence. o tie BALI. Patriot.
WASHINGTON, Feb. ll,h, lsi3.
There was IN the Senate TO day that
general showing of hands, which predic,
ed last week would be produced by MIR.
McDUFFIE's resolutions. An elaborate
speech from VI. Evans was followed By
demonstration from New Jersey, IN
the hands OF Me-. DAyToN--lhree or four
long propositions from MIR. RlvEs IA
noisy harangue from ALLEN. OF Ohio
an ioletlulory from Mr.. BUCHANAN, and
incidental remarks, Interspersed, by Messrs.
Calhoun, WALKER. McDUFFIE, aud 9th.
ers. The great feature of the day, was the
mastery reply Of Mr. EVANS TO the Sena-
tor from South Carolina. Ii has seldom
been my fortune TO listen TO a more import
ant and Interesting speech IN either branch
Of Congress, and never were the specIous
arguments and ingenious sophs,ries of the
free trade theorists more powerfully com
batted and overthrow, than by the able
Senator from Maine, on this occasion.
Mr.. EVANS need not say, differs from
Mr. McDUFFIE. as 20 the causes of the
crippled commerce and depressed condition
of the general business Of the country, and
also as TO the remedy for these evils. Mr..
Med. had assigned as the principal cause,
10
posed uOan our commerce. Mr.. EVANS
contended that such was no; the effect OF
that act. II was ptohibdory in character.
Ii did not prevent expectation. Ga tne
contrary, a greater amount had been ex
ported, AMI at higher prices since lis pas
sage than before. The amount oil imports
indeed had decreased, but the falling OF vas
not attributable to the Tariff other causes
had operated lul9rIously TO II as 10 every
branch OF trade and business. A u Interests
had suffered, aud especially the internal
commerce OF the country, as well as loreien
commerce. II Id the restricted impcrta
tious resulted from the operations OF the
Tariff, there would have been a rise in the
price OF The prohibited articles-but instead
of that those articles had actually fallen ~
value. /: is noticeable also. that there is
q re expectation OF such articles, which We
sent elsewhere TO find better markets than
are afforded IN this country. Mr.. McDrF
FIE had argued as il the stagnu,ion was
confined to foreign commerce alone, and
he ccud discover no cause for It, except
the Tariff. Bot when we find every branch
OF trade, agriculture, manufactures, aud ID
dastry dcpfessed-there must be some
cause common TO all. Foreign commerce
has declined because the domestic business
Of the country has deciued. The former
is dependant on the latter. MIR. Evans
pursued this argument at great length,
against tho assumption tha: the Tariff i'm
posed shlckies upon commerce, concluding
i:wi.h the pertinent enquiry which carries
the force of demouslratIon-"W Why. If that
assumption were true, should there be q
falling off 10 the amount Of free goods I'm.
ported shy, for instance, should the
amount Of tea and coffee be diminished"
lie then proceeded to state the main
cause Of the evils which the country is suf
fe.ing, and ascribed them TO the want Of
that sound add uniform currency ndIs2en
sable 10 all commerce and 10 all business.
Ia s,raia Of clear and flrclbe reasoning
be showed the pressing want Of such me
dun, aud the necessity of establishing IT,
in order 10 restore The prosperity Of the
country. He controverted the remark OF
Mr.. McDUrFiE, that expansion necessarily
deprecIates the currency. Ii the currency
Is sound, expansion does not de,ract from
its soundness, nor does contraction improve
it. 7 ou mas increase the value Of money
by contracting your circulation, but you do
mol improve the currency by any sucn mea
sure.
One Of the greatest evils Of the present
day uaquesiionably is the inequality Of the
currencY--it is one Of the chief causes why
50 little business is done. Ii the curren.
cies Of different parts OF the Union were all
equally bad-ihough tina, would indeed be
deplorabe state of thIngs--stlll business
would be done. This inequality calls aloud
for remedy.
The expansion which Mr.. McDrFT1r
made snch buL bear OF, was not N the
opinion Of Mr.. EvA15, thing voluntary
with the Banks-it IS business tina, causes
expansion and i, is a remarkable feet, that
now-shen specie IS flowing into the coun.
try IN large qaantI,ies-lhe Banks are con.
tracing. They cannot expand It they
would, for there Is no business done, and
therefore m one to borrow. In New York
where az iHteres, Of seven per cent. Is al
lowed by iay, capitalists cannot get five
per cent, f3f their money.
Cancguin5 in all tina. Mr.. MtDrFFIE
said Of the ruinous course OF the Jackson
Administration 20 destroying tia National
Bank and ad ,pliug the pet bank system ;
he could not agree 10 the Senator's com.
mendailons Of the SAB Treasury schene.
He thought there was az ilt:e wisdom ia
the reputation Of the State Bank system
a 1887, as there had been 10 its original
adoption, aud he repelled the attack which
had been made upon the Wings Ly Mr.
McDUFrIE, for having contributed to sup
e ~