Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1843-04-25
THE HERALD
TUESDAY EVENTNG-APRIL 25.



Ia bis speech at Memphis. Tenncssoe, Mr.. Clay
said
Had there been no veto, there would have been
prevention Of the charter OF National Ba nx, no
removal Of the dcposiies, treasury circular, no
duplication Of State Banks, no initiation Of paper
currency, no stimulating Of excessive enterprises
and mad spccua,ions, no consequent explosion, col
lapse, and universal ruin, which overspre.ds our
noble land Such is the history Of our career"
VIVA, lessons Of wisdom do we often gain land
nigh, gain ofener than do) were we TO sit down
a, the end of course of events which has involved
us in difficulty, and trace back link by link, its de-
vrous history. What an amszing md une rpec,od
connection one circumstance has with another-onc
result with another. When too late TO remedy ex-
cept in future life, should the germ of evil in
the very frs, step and be able 10 trace down its i'm
perceptible growth through succeeding steps, till it
ended in some overwhelming catastrophe, as uner-
pecied and uhnonded in its commencement as it is
affective in its result. The remark is equally ap.
proprla'e whether applied TO national or individual
concerns: and happy the sufferer if he allows the
lesson learned IN aficton to be so engraven on his
heart as to direc, his conduc, in all after life
Applied to our National affairs it is now perfectly
easy TO see tina, the long dismal night of pecuniarv
distress which has brooded the country, had its
procuring cause in Gen. Jackson's Veto of the U.
s. Bank. At the time this was done, no human eve
could foresee the consequences that were to grow
out OF il. He never npprehended such a train of
consequences would follow-ihat it would become
necessary to stimulate a hoard OF State banks into
unnatural activity and cause them to SO over issue
az to innunds,o the land with paper money, raise
rates and prices entirely beyond their natural value
and set the world on fire with specuation-or that
the creation Of four five hundred private and ir-
responsible banks would owe their origin to the
same cause, which now have mostly exploded or
that previously good currency would become so
worthless as TO make necessary 10 issue orders to
collectors oil government, revenue TO receive nothing
out specie; thus furnishing tho world with the I'M
heard OF specimen OF law making, in which Gov
eminent refused to receive of that very currency
which it had forced on the people! And the sue
cessive steps taken in this decline from plep,eous
prosperity to starving want, had no apparen, exist
ehce IN mo Veto Yet these consequences follow
ed, one AFTER another in sure succession That the
Veto was an unwariantabe stretch of power and
most hazardous experiment, was fully known: hut
no one dreamed Of the abyss of misery into which i,
would plunge the country And s,ranges, of all,
mar out OF this should arise a formidable party
Pledged 10 the orerihror Of all the remaining usage,
ana '"'h|r'ions Of Government. That the low
standard OF hard money, reduced wages and prices,
non'pro'ection, free imports and iared exports
would be raised and furiously supported, was en-
ey too far in the perspective for the keene., Wis
ION TO reach. But we find ourselves: and il this
people Will not learn saving lesson from past
experience, no future suffering may be expected to
produce reformation