The southern press., 1851-04-03

necti0n far more deleterious in its consequences
than was the connection Of the government with
the Bank Of the United States When the issue
| OF bauk or no bank was attempted to be made,
on the removal of the dcpostes and in its dis
cussion, Mr.. Cahoun's keen, analytic intellect
detected its fallacy. He said
"What is the real question which now agitates
the country | answer, II is a struggle between
the executive and legislative departments OF the
government struggle not ~ relation 10 the eN-
istence Of a bank but which, Congress or the
President, should have power TO create bank
and the consequent control over the currency OF
the country. This is he real question. Let us
not deceive ourselyes this league, this associa-
ton OF banks, created by the executive, bound to-
gether by his influence, united IN common artiees
| of association, vivfed and sustained by receiving
the deposites OF the public money and having
their notes converted, by being received every
where by the treasury into the common Currency
| OF the country, is to all ntents and purposes a
bank of the United States--the executive bank
Of the United States as distinguished from that Of
Congress-"
| $50 long as the question is one between a bank
| of the United States incorporated by Congress,
and that system of banks which has been created
by the will of the executive, II IS an insult to the
understanding to discourse on the pernlcious ten
dency and unconstitutonalIty OF the bank OF the
United States. To bring up that question fairly
b
| you must diporce the government and the banking
system. You must refuse all CONNECTION with
bcnks You must neither receive nor pay away
bank notes. You must go back to the old sys-
tenn Of the strong box, and Of gold and silver"
| "Fhere is no other alternative. repeat, you
must divorce the government entirely from the
banking system; or if not, you are bound to IN
corporate bank the only safe and efficient
means Of giving stability and uniformity to the
currency And should the deposites not be re-
stored and the present illegal and demonstrations
al connection between the executive and the leagae
Of the banks continue, shall feel it to be my du-
ty, if no else moves, to introduce measure to
prohibit the government from receiving or touch
ing bank notes in any shape whatever, as the on
ly means left of giving safety and stability to the
currency and saving the country from corruption
and ruin"
The small State rights party, then, was the
only true anti-bank party in 1884. In accord
ance with Mr.. Calhoun's suggestion, Gen. Cor
don, of Virginia, introduced the first Independent
Treasury bill into the House of Representa-
tives in 1884. Such, however, was not the
policy either of the administration or of the OPP
position-and the measure had to bide its time.
1t was then defeated.
| In 1897, however, came the great commercial
convulsion, which prostrated nearly every bank
in the Uuited States What were left standing,
were so crippled as to be obliged to suspend
specie payments and by viltue of the joint
resolution of 1916, the connexion of the gov
ernment with the deposit banks ceased. The
great distress thus produced, was dexterously
turned upon the Democratic party and Mr..
Van Buren, commenced his administration evi-
IDENTIFY in minority, both in Congress and
among the people of the States. At this june
ture the government was, for the first time since
its commencement, free to take fresh start in
the narrow and restricted path of the Constitu-
ton. Mr.. Van Buren had the wisdom to per-
ceive this, and the nerve to take advantage of
it. He had that true greatness of soul, too,
which enabled him to seize upon Truth wher-
ever he found it, TO throw himself and his ad-
minstration for support even upon measure
Of the gifted, though denounced Carolinian. He
recommended the Independent Treasury plan
based upon Mr. Calhoun's suggestion, in 1884
of divorce of the connection between the
government and the banking system. True to
the great aim Of his life, Mr.. Calhoun at once
rallied to the support Of his embittered personal
foc--the only man that had ever drawn from him
the use of an unognifed personal epithet-
Truer to principle than to power, he forsook the
opposition, with whom, to accomplish his pur-
poses, he had so long acted, just at the moment
when their cohorts were gathering for last
! successful onslaught on their ancient. divided
distracted, and disorganized foes Bittcr-bit-
ter indeed were the curses which they heaped
upon the head of the great Carolnan, when
| they found that experienced and veteran leader,
at the head Of that small but efficient band of
State rights men, between them and their prey
| The contest that ensued is without parallel
in the Legislative history of our country. Every
weapon Of parliamentary warfare was used to
crush Mr.. Calhoun, and to destroy the immense
| -
was assaed-his whole political career was
searched with n keenness of vision which only
political hate can give, for the purpose Of find
ing material with which to lessen him in public
estimation; and one bold, impetuous leader was
rash enough to nsinuate that time must reveal
the motives of his course. | cannot forbear TO
| give his reply;
"But in so premeditated and indiscriminate an
attack, it could not be expected that my motives
would entirely escape, and accordingly find
the Senator from Kentucky very charitaby leav-
! ing II to time TO disclose my motive for going
| over l. who have changed no opinion, abandon
! ed no principle, and deserted no party; !, who
have stood still and maintained my ground against
every difficulty, to be told that it is left to time to
disclose my motive The imputation sinks to the
earth with the groundless charge on which it
rests. stamp II with scorn, in the dust. | pick
up the dart, which fell harmless at my feet.
hurl it back. What the Senator charges on me,
he has actually done He went over on a memoir
able occasion, and did leave it to time to dis
close his motive"
To those familiar with the history of these
two great statesmen-the characteristics which
distinguish them-and the style and manner of
Mr. Calhoun in debate, the above retort will be
considered as one Of the finest instances, in our
parliamentary debates, of lofty, indignant, and
crushing iuvective.
The expression Of astonishment-of lofty
aSd virtuous indignation, at such an imputaton
the vehement, sententious, complete vindica
ton, as he points in triumph and scorn to the
spent dart which lay fallen at his feet--the sud
den change from posture of defence TO active
hostility--thc terrible home-thrust given to his
adversary with his own weapon, as if scorning
to use upon him his own good blade--ihe com
| pressed energy and carnestness of the whole
paragraph--aIl cause the reader to feel that,
short as was the passage at arms, it could not
have been more triumphant on the part of the
1