The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-03-09
corrl.pona. nee Of Ms Baltimore PotriOt.
WASHINGTON, Feb. IA, lsi3.

upon the resolutions nc suuhi'0uo W
day last.
Mr.. McDulIio commenced with deelaf-
inn that IN bringing forward these Propo-
sitlons, he rested upon his own resp"us'-
biIi,v alone, without consultation with any 1
one. lie was impelled by feeling OF the
strongest obligation to present ihem LOT Tue
consideration of Congress. In the present
state of the country, this was no time Tor
dealing in examination and recrlmnatlon,
as 10 the particular party that had caused
tho ,,esent disasters. Without entering
INFINITELY into a consideration OF these
causes, he felt that great responsibility ior
hem belonged to both the leading parties
or,be nation. The administration oil Gen.
Jackson committed great errors IN It's war
fare upon the Bank Of the United States,
and IN ils subsequent policy towards Inc
State Banks, especially IN exciting specu-
lations-B Bank eApansions-creGl,s,a and &c
Communications. After the suspension oil
1887. however, he said, the Jr kson par
ty rctraccd their steps, and Mr.. McD.
characterized the Sub.Trcasury winch
was then proposed as " a measure OF rare
and commendable wisdom !" @ lie bam.
ed the Wings for becoming advocates Of
The Banks, aud especially Of the State Bank
system, after they had seen the disastrous
explosion of the bubble aud he maintained
that. in II supporting the total separation
Of the Govern. eni from Banks, the Wings
we're quite US responsible for the present
cmbarrassmeuts and dlslresses, as were
those who originally made war upon The
nationa currency and credit @ his
dogmatism Is specimen Of the reasoning
Of Mr.. McDuiiie to-day.
'folho.e who proposed reiorm q the
currency he answered that It would be nc
remedy for existing disorders. The evil
nc said, is expansion, and the currency
must be reduced further, before any I'M
proycmcnt could be hoped for. He wa
astoushod nj Inc unt ersa! cry thioue nu'
he Union, for new schemes Of Banking, y
whieh CRY he acknowledged mary leading
persons joined lie regarded It az 4 ella
. NOR for the original cause Of the disease
this demand for United States Bank, toi
an Exchequer Board, &c. &c. Those
who made i, desired the benefits Of NOR
extended currency, but he held that ltwai
impossible to expand aud reform the cur
:. rcncy at the same time. Expansion, II
: his opinion, was depreciation.
= And what, asked Mr.. McDutlie, Is iht
meaning Of this CRY FOR restoration Of con
= tidence' Confidence in what In Banks
with all their accompany revu!sions-
suspensIons-an and deialca;ions Coniidenc'
IN false systems of Finance Heaven tor
bid that ever such confidence should he ro
: stored. Il was like the forbidden lru
' which FIRST brought death into tho work.
: the original cause of oil our woe.
:, Mr.. McDniiic proceeded IN this s,roi
for some time, severely denouncing a
Banking systems, and Exchequer schemes
: and concluding with the rather uncxpecie
u declaration, tina, il he were asked wh'
!, remedy he would apply for the disorder
Of the currency, he could not say whi
: woud do He would leave nature to hei
! SELF and not arrest her course towards r'
! coycry, by aus Of the miserable conirivaT
ces ofman. We still wanted the expericnc
:. Of one or two more years, and then III
natural course Of events would work ih
I, cure. II would undo the mischief whic
has already been done and that IS n
/, tia, IS wanted.
q 81 your readers Will perceive that, az
cnrding to the South Carolina doctrine, th
people, already nearly worn on, by Ion
!. suffering. must continue 70 20 down-da"
down through successive stages 81 d
preston Tor TWO more years at least, an
I, then the "vls mcdicalis na'urT y may 1
/, expected to restore ,hcm to prosperity.
=, Mr.. McDuilic then proceeded 10 n
10 more important part Of las speech -wblc
+, VAS to urge such modification flbe e
: sting tariff, as will make il mere rev
10 nue. measure. The argument was ucllhC
a. ntlgiuaI nor strong far inferior 10 both u
- spccis To many heretofore made by the hoi
rs orable Senator when a member OF the olhc
.. House. Ii indeed consisted principally
=. paujits and dcnunciaions, cxtravngai
o. exposlllons Of The amount Which the Soull
h. efn States contributed to the commerC
n and revenues Of the country, aud the con
n. parah;c share Of the burthens Of Cover
ne mcnt which they bore--and Of the fuinol
or effects which the tariff produced on d
n. classes of the community, except a fe
ic wealthy Northern capitalists. In the cour,
M Of his denuncallons of the protective s.
i, tenn, lie referred hy way of contrast,
l.. tic course Of Sir Robert Peel. Just at Il
n. moment, said be, when IN obedience TO
II, irresistible public opinion in England, I!
- British Minister was relaxing the rcstri
81 i've commercial stem of tha, coun,r
II. and when measures might have been take
,r. TO give 10 the corn growers Of pcnnsvlv
a, MIA, Ohio, and other States, foreign ina
tc. ket for their produce, we turned our bacl
en- upon that Minister, and instead of recipr
eating his friendly spirit, we sent him
ct, bill, imposing still further rest gciions up,
u. the importation Of British fabrics.
Ii ! noticed this view of this question in
A Al