Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1843-01-26


ced thc President IN power four years. and under which
he could mol be turned out
Mt MckEoN. Ii any gentleman would look through
me Whole speech he would find that the constitutions
TACT referred h was that power Nv which the President
had destroyed one party. and by which he would also
crush the othe unless they conceded with his
Ihe gensn an said "a them BOTH be careful in legisa-
ton make no warun the Administration; If YOU do the
Jdct OF the Exeeotvepower WILDE brought againstyou
u II meant the veto power, speech which had beou
made would have such Tremendous influence In stirring
up the people OF the United States The acknowlcdg
men OF the fact that this power might be- applied 10 par
" purposes W rs the President have regard to
the Constitution and 10 the benefit of the country IN the
exercise OF his power OF approval rejection o bills or
was he ierey Ia consider whether 1t would advance
PROSTATE the interests of rartyl What did the speech
OF the gentleman mearl This whole house and the
country understood that 1t declaration that
worth while Tor the favor of the Executive to be sought
after. and here were two great parties rejecting. epndla
ting the Government; and IT he might be permitted by
the friends oil the Executive to repud aied by the
Administration, both told that they must play court to
the Administration. Were they 10 be told by the Fac
cutve aud his friends this floor tina, the great Demo
cratic party OF this country who had trumphed in
many fields A voice elbow is 1t Georgia. We're To
come down and be supplanls al the foot OF Executive
power. he President appeared 10 have como 10 the
conclusion that moderate both sides would for
sake their old principles and unite with him IN earIyp.
on Inc Government, But truth was side the
other, and this attempt to combine teof the princ
pies o each side would end IN nothiug but chaos and
fusion That was tha very state Of things which had
been seen this floor during the present session Of Con-
gress The country must be in the hands OF party
or the other.
MIR. Mex. remarked, in conclusion that he had spoken
his own sentiments, aud responsible ior his
views except himself
Mr. kAiNER wished TO state very briefly the reasons
which would induce him lar the repeal Of the
bankrupt law-provdcd the bill before the House could
be put proper shape. lie voted the bankrupt law
al the extra session with misg, ng; butt upon
Election, he then yielded his doubts the strong convc-
lions and earnest cnireaes Ut those who, representing
commercial sections Of the country urged with So much
Zeal the passage oi the law. II question which
he was able 10 look with unprcudiced and impartial
eye Although his State suffered in 90 nmon with
with every other part of the Union from the financial
and pccnnar, embarraSsmenis Of the Government and
the country yet there perhaps State that suffered
es-owlns in par, 10 the prudent and economical habits
olIis people, and IN part 10 the fact that consequence
OF the natural distinctions its eastern coast. was
less commercial IN ITS pursuits Than any other Atlantic
state II was. therefore, question which the people
OF his section o the Union felt comparatively Indifferent
lie felt at perfect liberty to pursue such course as
IN his judgment he might think proper-untrammcllcd
by public opinion al home. Although he pressing
Necessity Tor the passage of this law. so far the people
Of his own State aud especially his own Immediate con
siituths, were concerned, yet he could not shut his
eyes 10 the embarrassment, insolvency and distress that
were prcymg on all the trading and commercial sec
lions OF the counirydcpresslng credit crippng The
energies "i industry, tying up the hands of enterprise
and all these Their results seriously affecting and re-
acting on agriculture manufactures and every other de
pa rnicnt of Gus mess.
When Mr.. X. to look at the causes of this en-
barassen and distress, he saw plainly that the suffer
ers We're not paying the penalty Of her impndence
and folly; but they had been brought to insolvency and
Impending ruin by the rash and wicked measures OF f.
nancal quacks and political gamblers. When Locoico
mlsrnlc commenced II found the country peaceful and
quiet aud every department OF business pursuing
cessnl career OF prosperity and wealth. Men of bu.i
ness relied on the patriotic conviction that those who ad
mnlstered the Government would conne themselves 10
their constitutional functions; aud they walked firm this
dream To find that financial tinkerlng had unhngcd
ry branch OF business and dcrangcd all their calculations
founded as those calculations were, the presumption
that Government would interfere with the pursuits
OF the citizen The last administrations instead Of profit
ing by the experience Of the past continued
IN this Tnlnous and oppressive policy-nakng upon
credit whilst living on credit itself Experimenting with
the currency, and acting the principle laid down by
lis chief that the only business Of the Federal Govern
men was 10 take of itself regardless of its effect on
the pursuits of industry. At length the crisis so long
predicted by saeacious statesmen. came. The most u
iieus were unable to provide against it, whilst thousands
who had been lsgaed by the Inducements of the Jack
sou paper money embark in Specializing adventures
were by the measures Of the Van Buren, specie currency
era, swept away by the sudden crash Thousands were
not only left nsolyent but unable TO obtain employment
10 ssisi much less Ia pay their debts whilst thousands
OF wives who had been ENJOY ing life Of luxury were
suddenly consigned to poverty, and thousands OF chill
dren who had been rocked in the cradle OF plenty were
brought 10 cry for bread Such but faint descrip
ton OF the suilerngs and condition of the commercial
community when the bankrupt law was passed.
II was this state of Distress growing ont of twelve
years Of misue, which aroused the in 1870 and
IN very great measure contribute. to the overthrow of
the self styled Democratic party The Wing party
came into power pledged 10 relieve the country far
was in their power. The People expected il al their
hands. And when they to look around them
to those who asked and required relief at Their
hands. they saw that they not the misers who
had boarded their god-tley were not the veal
thy capitalists who had looked with calm compla
cency on, and reapcd profitable harvest FROM the
suilcrngs and misiortunes of others; but they were
the enterprslng and industrous--lhose who had EN-.
ploycd their means and their labor in giving employ
mcnt to thousands and in advancing the lade the cred
It, and the Improvements OF the country, all its great
leading lnleess-who had thus been ruthlessly and u
expectedy reduced to want. The Wings then consid
cred il not on their duty but injunction imposed on
them by the Peocle who had entrusted them with pow
er, to release suffering community from the thraldom
into which they had been plunged by wicked and in
competent rulers. They found the hands of in
dustry and enterprise tied up, consequence of i'm
prudence and extravaganza but by the of the Fed
era Administration; and it necessary sever those
bonds to enable prosperity and improvement to pursue
their onward march. They considered this ndispen-
sable to the commencement of a sautary reform And
now for and tor all he wished il to be distinctly M
derstood, that they might set themselves right on this
sublect-let those who much denounced the BANKRUPT
lawle this House and this country recollect, that OBJ