The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-04-03


speech for the atmosphere Of Ohio which, he said he
intended to send to ten thousand democrats !
Mr. DaSikL contended that considering the improved
state OIL the currency, and trade, and exchanges the
whole country were now satisfied that what was said
by the wings as to the necessity" of National Bank
tion and that 1t was established beyond controversy
that the argunents the democrats urged against
correct The bill before them proposed no limo vation
but merely to throw additional safeguards around the
law OF 1882 establishing the treasury department He
himself IN favor Of the amendment proposed
oy Mr. Dromgooie inserting the specie clause-hat az
ter the soth u June next duties taxes sales Of public
lands debts and sum, Of money accruing or becoming
to the General Post once Department, shall be paid in
gold and silver coin only and said ii would have ten.
dency TO prevent fluctuations in the currency dsas.
trous to all classes OF tho community.
Mr. JoSrs. Of Tennessee. hoped and believed that
this bill would be passed, and sthst II would 70.
trial IT, in practice, il should BE- found to BE- dssrinsn
tai to the public interests to the ssfsty OF the public
funds he would no longer be its advocate He, howsv.
En- would vote for the measure IN IN confident expsc-
taon that s the good anticipated BY ts frisnds
result IRON its operation; and he advocated the bill
given to il to lew taxes and appropriate Money, had
the power 10 conade the sksepng and disbursement
Of m money to iis own officers subject to y. control.
and responsible to H. and not to fictitious selfcrsate
souess corrupt corporations whether crested BY the
general or thu state governments AID he wouli give
measure was the greet gonis Of banking corpora
tons and the wings (whc oppose Tor this reason a.
regulated State bank vas never hen or heard o. and
the history Of the world did not show an instance on re-
cord Be isvng that the trainers of the contribution
were hardmoney men, he entered into itutionsl
argument TO prove the correctaess Of his position
Mr.. HrSr said IL the destiny OF Mr. Van Buren, to
stake his destiny this In $780, and ia
quence, defeat followed But, notwithstanding has
again been brought forward Az party man, he might
desire a second trial Of this scheme, knowing what
oud be the result at the ballot boxes but Ams
can he deprecated H. believing that would have pre-
Judicial influence upon the business and indus-
try Of the country He conceived the present arrange
ments Of the Secretary Of tho Treasury be safer and
better than this plan proposed The collection Of go
vernment dues in gold and silver will produce . oon-
traction OF the currency and then would succeed re-
aucon OF the value Of labor II csss above another
was particularly interested In upholding properly rcgu
,aed banking nsttu ions, IL that composed Of
~ noaerse means who by sggregatng their wealth,
s mutually benefited, az well as the community, end
assn ron the heartiess exactops of the usufer A
a but di his prove the entire System pre-
yuu.'.i ue amooat might explode. but were steam
ooss 70 % ocardedi The gold and silver in the coun-
y Tss .usumcisnt to buy the surplus products and
ssnd nem 10 markets and FOR this reason he as IN favor
pspeh msa,nm sonvsrtibls into specie In conclu
eu. LEI Ss .rsd 10 good faith he objected to IT, Be,
BASEMENT TO the nnry another financial revnis,o
compelling every banking institution to change lie DO