Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-02-18
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POLITICAL.
CDNGR I:SS

WAsHIS0ToS, February BIN the Senate the
utons Of Mr. McDuie, the state of the country and
the Treasury, came mp for discussion. MIR. McDufie
occupied the floor two hours in developing his views
We regret that reporter will not be able to furnish
even sketch of his remarks, for this evening pa
per
The speech was characterized by the strong and bold
views and the masculine elpquence, which have con-
erred celebrity mir Med. The scope Of his argu-
directed to establish conclusions IN regard to
the paper system, the Tariff and the Government ex-
pendltures, which, we have little doubt, will, in the
main, receive the public sanction
He repealed, at the threshold the projects of the
Federal party, which, under the pretence of restoring
sound and uniform currency and public confidence,
propose restoration of The exploded credit system
He demonstrated that the whole fabric delusion
and that relapse into the state of false confidence,
which gave credit to inflated paper currency, would
be but Of the disease under the conse
quences Of which the country was suffering. The
very oppression and debility at this moment expert
enced he attributed to the natural process through which
the community was recovering its sanity-throwiDg oil
The Of the violent exctaton under which ii had
labored and of the excuses into which it had been
driven. Mr. Me Due, regard TO the disorder Of the
currency, would therefore leave the nation to the
medicatrir nature. He would let public opinion go
and complete The cure, by putting an end TO the de-
fusion OF paper money; and above all things, withhold
the Government from attempting any quackery in the
way Of Banks Exchequer Boards, TO the faith
of the country in those specifics from which II had SUI
ered so much
Mr.. McDufie's views of the prohibtory provisions
of the tariff imposed at the last session, carried with
them irresistible conviction. His arguments mel
ther far fetched overstrained. His illustrations
were perfectly simple, and such every could
readily apply 10 his immediate dealings, and test
their truth. No maa of probIty-at least,
whose mind unbiased could have listened Mir
McDn!he s Speech and then have voted for tariff
exceeding by iarlhing the revenue limit We never
were deeply impressed with the danger of such
tariff 10 the purity and permanency of Institutions
with its utter ncompa,b;lity with the interests Of home
tndastry-wih its absolute Imposure as system foa.
tering American prosperity
! Mr. McDuie made 1t as plain as day. that it involved
the sacrifice Of the interests Of the Government, and
of the in all sections the sordd selshpess Of
few-the sacrifice OF the agricultural and commercial
prosperity, which fills the treasury and gives
to the country TO that Of turing capital which,
so far IRON contributing anything TO the revenue, rcbs
it, to enrich itself.
On the subject of nchment-which was the last
topic touched by Mr.. alcDuihe-hs remarks were re-
p!ee with sound nnS.ms, TO which trust the De-
mocracy will soon give the practical illustration
i The opening OF the speech was we think unjust to
the administration of the national finances which closed
their connection with the u S. Eank. He attributed 10
that Administration The excuses in which the State
banks soon alter Notwithstanding that the ira
VACANT lcaas end issues made by them encouraged
by the ADVICE OF those 1t tts heaG of tie
lit true that the Fsesiden. wished The contraction
which the Bank Of The United States might seek 10
visit on its debtors, the preext of the gradual
val of The Government deposites, should be
acted By tie extension of their the part of the
State banks; but we know that The very moment the
State banks gave evidence ola inclination pass the
limits prescribed By prudence, every effort made
by the head OF the Treasury 10 restrain them As
as alr Bidde that the caution of the Secretary
was likely 10 prevail, und keep the deposit banks in
safe moorings, he changed his policy of contract
ing; and, letting 60 the Teins, up his discounts from
fifty to seventy millions; and pnuring Gu, twenty
millions of his paper money, removed all appre-
henson in the State banks of pressure from that quar-
ter and under his encouragement, and that of his par
tisans in Congress, the State banks followed his lead
in delueng the country with the paper currency, and
filing the land with the delirium of speculation. Thi.
is The 'us history cf!hs: expansion which Mr McDuf