>28. It remains to be shown that the cau
of the sti'I greater and longer continued e
^ pansion which .has terminated in the ovc
throw of the banking system, and the de<
and almost universal distress of the roun'r
may bo clear'v traced back to the sat:
source. To do this, we must return to t
year '32, and trace the chain of events
this lime. In that year, the puMic de
was finally discharged. The vast rrveni
which had been poured into the Treasu
by the tariffof'28, and which had acceler
ted the payment of the p ibiic debt, coul
after its discharge, no longer be absorlx
in the ordinary expenditures of the Govor
ment, and a surplus began to accumulate
the Treasury. The late Bunk of the Unit*
States was then the fiscal agent of the 3?>
ernment, and the depository of i s revenu
Its growing amount, and prospects of gre
future increase, began to act on the cupidi
of many of the leading State banks ai
some of the great brokers ot i\ew ion
Hence their war against t! at iustitut'on
and hence, also, the removal of the d p
sites* The late President I believe :o hav
been really hosnle to the B mk on principli
but there woulJ have been lit'le or no inotu
to remove them, had it net b en for the
growing importance, tlnd the hostility whic
the desire of possessing them had excit r
They were removed, and placed in th
vaults of certain State banks. To this r<
moval and deposite in the Stab* banks 'I;
members over the way are in the habit (
attributing ail the disorders of the eunene
which have since followed. Now I ask,
; the first place, is it no; certain, if it had nc
been for the surplus revenue, thff
would not have been removed ? And, i
the stconJ, if there would have been a sur
plus had it not been for the tariff of '28 ?
Again ; is it not equally char that it wa
the magnitude of tie surplus, and no; tli
removal, of*itself that caused the after dt
mniremont and disorder ? If the surplu
A, -^
had been but two or thnw miliums, the ord
nary sum in deposite, it would have b'e
of htlle importance wluxo it was kepwhether
in the vaults of the B mk of ih
United Sates, or those of the States; l?i
involving, us it did, fifty m li ons and mon
it became a question of ih highest, import
ance. 1 ugaiu ask, to what is this go'a: s <r
plus to be ut:ribute ', bat to t e same c i >s
Yes, sir, the tariff of 1323 caused the sui
plus, and the surplus the removal and al
the aftec disasters in the cum ncy, agjr?va
ted, it is true, by being deposited in tli?
Stale banks; but it may be doubted Wiethe;
the disaster would have b en much less
had they not been removed. Be tli ?f
however, as it may, it is not m it?*rial, as
have shown, that surplus itself was the mo
live for the removal. W" uil renvmhe
what occured after the removal. Tim sur
dIus poured into the Treasury by millions
?~ -
in the form of bank notes. Toe withdraw
al from circulation, nti-1 locking up in tlx
vaults of the ivpositc b:?nJt , so^or^e an a<
mount, created an immense vaeuurn,To h
replenished by repeating tiro issu s w;?H
gave to the banks the means of unb-.nitiJei
accommodations. Speculation now corn
menced on a gigantic sc il- ; prices rose m
pidily, and one party, to make the rernova
acceptable to the p-ople, urg d tire n"w <Jr
positories to discount freely, wliile. :lie olhe
side produced the same off of, by censurin
them for not affording as ext nsivo accoin
modations as the Bank of the United State
would have done, had the revenue b .Hm |.-|
with it. Madness ruled the hour. Th<
whole com nuni'y was intoxicated withim
tignary prospects of realizing immense for
tunes. With the increased rise of price
began thegigan'ic specula*ions in ;he puhlx
domain, the price of which, b ing fix?*d b
- t i 1 c ,t rc?
law, COUIU (UJl punuitu wi we j;vii...... -a.
To enlarge the room for th"ir oj^rations,
know not how many millions (fifty* I woult
suppose, at least, of the puolic revenu ) wa
sunk in purchasing Indian, lands, at t!?ei
fee simple price nearly, and removing tribt
after tribe to the West, at enormous cost
thus subjecting millions on millions of tin
choicest public leads to be seized on by th?
keen' and greedy speculator. Trio ti?i<
now swelled with irresisiible force. Fron
the banks the deposi'.es passed by d;scou..t
into the hands of the 1 aid speculators
from them into hands of the rcc-'ivcrs, an
thence to the banks ; and again and ngaii
repeating the same circle, and, at every re
volution, passing millions of acres of th
public domain from the people into the hand
of specula*ors, for worthless rags. l|,t<
*|his state of things coivioueJ much Idfrger
every acre of the public lands, worth pes
sessing, would have passed from the Government.
At this stage the alum tool
place. The revenue was attempted to b<
squandered by the wildest extravagance
resolutions passed th:s body, calling on th
Departments to know how much iliny cou'i
spend, and much resentment was felt be
cause they could not spend fast enough
Thedeposite act was passed, and the Trea
sury circular issued ; but, as for as thecjr
rency was concerned, in vain. Tue ex
plosion followed, and the banks fell in con
vulsions, to bo resuscitated for a momen*
but to full again from a more deadly stroll
under which they now lie prostrate.
I huve now presented, rapidly, the unbrc
Jien chain of events up to the prolific sourc
of our disasters, and down to the prcser
time. In addition to the causes originutinj
directly in the tariff of 1823, there were s<
veral collateral powerful ones, which hav
contributed to the present prostrated condi
tion of the currency and the banks, but whiel
would have been comparatively harmless o
* themselves. Among these was th?< imj or
^ tant change in the charter of the B mk o
England, at the Inst renewal, about the tun
our surplus revenue began to accumulate
by which irsno!<s were made a legal tende
in all cases, except between the bank inn
its creditors. The ohvious dlect of t?i
modifica'ion was to diminish the deman*
forspecie in that great mart of the world
and, in consequence, must have tendei
powerfully to keep the exchange with us i>
nn easy condition, while the tide of circui t
tion was rapidly rising to a dangerous height
But there was another causa which conti ib
so utcl still more powerfully to the sime
x- suit: I ref?'i'to the great loans negotiate!
:r- broad by States and corporations. To t
?p [ add the operation of the United S
v. B mk of Pennsylvania, the direct objec
Hi- vhica, in some of its m re prominent tri
In- actions, was to prevent the exchange f
to becoming adverse to us.
r_ c*
bi By I'm operation ofthf,se causes cor
je n?aJ, the exchanges were kept easy foryi
ry notwithstanding th" vast expansion wl
a. our circulation li id attained, from the p
I. erful action of die more direct causes
;d which I have adverted. The stroke
n delayed, but not adverted, and f II hut
in heavier and more fitally, because del 13
jd And where did it fall, when it came, 11
v. heavily ? Where the measure whi.di c
e. s?>d i originated ; oil the Iliads of its pro
at tors. Behold how error, folly, and vi?u
t\ the ways of an inscrutable PioviJoncC) t
id back on their authors.
k. It is full time for th- Nor'h and more
; pecially for Ne* England, io pause <
. ponder. Ifjtey would bear the voice
r> one who hntjrtnevor wished them wol
r; would say that the renewal of the pro'ec
e sys'em would be one of the greatest cal.t
ir ties that could befall you. Whatever it
h dental go<?d could e derived from it, '
I. have already a -quired. I' would, if rem
e <d, prove a pure, umdultered evil. rJ
\erv revrse is vour true policy. The gr
e que-iiion for you to decide is, how to c<
jf tnand the l'or? i^n market. The l?n
y mark'", of i is too scanty for your si
it your activity, your energy* your unequa
>? inventive po vers, your untiling in Just
s your vastly increased population, and ac
n mulate l capital. Without the foreign in
- kef, your un?'Xampl- d march to we dth i
improvement must come to a stand. IT
s then, are you to abtain command of the
e reign market ? Th ?t is tli? vital questio
Tae first and uidisp -ns ihle stej) is a t
is tough reformation of ihe currency. W
i. out a solid, stable, and uniform currnn
n vou never can fully succeed. The pres
; currency is incurably bad. It is impo
<i ble to give it soli 1 ly or st ihili y. A ei
?t vi ruble bank currency, however well r?*j
>, I tfoij, is subp'CV to violent and su It
ng"s, which must forever unfit it ;o
? i ? i __rI, i,,. i.,r tlif? rn
I" MMII'Jijru III Y'HUIT. II |.i IPJ .... ...
? seusi ive of nil to every change, cornm r<
. <>r political, foreign or dome*tie ; as m
J j be readilly illustrated by reference to the i
. dinary action of foreign exchanges on si
currency. For ilia* purpose, le; us assu
r tii-it our ordinary emulating medium, wl;
exchanges are easy, amounts to $100.00
. 000, consisting, as it does, of eon vert tl
! bank ,>ap<*r. L-t us suppose tliat it is
issued by what are called sound specie p:
r ing banks, w'.th.a circulation of three dt
ars of paper for one dollar in specie, wlii
i, is regarded /is constituting safe binkir
. Next, suppose exchanger-.hro id turns i
e gainst us, to tbn amount of $10,01)0,000.
it n t clour, .that instead of reducing the i
, ? ulaion by that amount, that is, to 89
|j 000.000. which it would do ifil'jconsiv
f i only ofapecivf, t would he redhead -tin
. times the amount ; that,is, to $7(W9(^pf]
. L*?t us now suppose the exchang Slot,
| ( t'ie other way, from this point of depre
. ton, and o h" kept (lowing in that direct
r i t II it came to be 810,000,000 n our fav
j instead of that amount agamst us. The res
- would be. under the operation of the sa
s I law, no* to increase our circulation to 81
r 000,000 only, which would be the case
e consisting of specie, but to $130,000,00
- making a difference between the extre
points of depression and elevat on of 86
s 000,000?more than equal to one.half
t ih usual amount of circulation by stippi
v -tion. with a corresponding increase of [
. ccs?instead of $20,000.000,equal only
1 a fifth, and with but a proportional effect
1 prices. A change the other way, from I
s extreme poini ofeleva'ion to thatofexrei
r depression, would cause the reverse eff
; I hold it certain -that no honest indust
: pursued, m, ith the view to moderate c
? steady profit, can be safe in the midst
- su *h su Men and violent vicissitudes?vie
situdes as if from summer to win'er, z
i from winter to summer, witliou' the in!
s vention of fall or spring. Such great r
; sudden changes in the standard of va
I must be particularly fatal with us, with <
ii moderately accumulated capital, compat
- j to th ; effect on the greater accunnnulal
n i abroad, in older countries. In stating
' 1
s cas'j SllppoSt.'U, I MUVO assuuiru IIIIIIIU I>
J random, without pretending to accurracy
ijpplcd to our country, simply to illustr
. the principle. The actual vibration nr
j be greater or less th in lha* supposed, I
i in every country where bank circulation p
h vails, it rnus; be greater and greater, just
proportion to tlie extent of its prevalence
r For tiiis diseused state of your curreu
j there is but one certain remedy?to r? ti
;o the currency of the Constitu ion. R;
tha' instrument, and hear what it says "C
gross shall coin money and regulate the
. lue thereof; no S atBaliall emit bills of c
dit, or make any thing but gold an 1 silv
. legal tender." Here are positive an I n<
, itive provisions ; a grant of power to C<
gr? ss. and a limitation on the power of
S steg, in reference to the currency. (
i vou doom that the object was to give
? Congress the control of the currency 7 W
r "Ise is the meaning " to regulate" the va
j hereof? Can >ou doubt that tiie currei
. <vas intend- d to be specie ? What else
t tie meaning "to coin money?11 Can ]
ioubt, on the other hand, thai it was 'he
li enlion that the Sta:es should not supers*
it the curreucy which Congress was autb
. zed to establish 7 What else is the me
ij ing oftlio provisions that they shall not
e sue bdls of credit, or rn?ke tiny thing
iold and silver a legal tender ? Can
, doub , finally, that the country is no* in
j condition that the Constitution intended,
s far a8 the currency is concerned ? D
I Congress, in point of fact, regulate die <
renry ? No. Do"S it supply a coin cir
I a*ion ? No. Do ill- Slaw-, in fact, rOgul
, it? Yes. Does it consist of paper, issi
. by the authority of the States ? Yes.
this paper, in etfoct, a legal tendei ? . Y<
it has expelled the currency of ti c Cons
BjggMjMBMWIJLMJUJJU?
ro. i tulion, and we are compelled to take i( or
i a. I nothing. Well, then, as the currency is
hcse | in an unconstituuouul condition, thecowluates
I mou is irresis*ibl?? th;?; t'?e Co is':tu*ion Ins
I of'j failed to efiect what it iutcnieJ, as far as
ins_ the currency is concerned ; but ivlr-iher it
foil) > Ins faded by m'scons ruci.'ion,_?r the want
j of adequate provisions, is not yet deci led.
nbi- j Thus much, however, is clertr ; t iat it is
sars, througa the agency of bank paper that i
1H1 has failed, and the powi-r.intended to be con
ow- furred on Congress over the Currency has
i to ben superseded. Cut for that, the power
was of Congress over the currency^would have
the been th.s day in full ibrce, and {he currency
red. i sell in a conMiutional condition. N-?r is
uost i it loss clear, that the Constitu ion cannot be
:,ij- restored, while the cause which has superjec
seded it rem ins and this presents the
j, in great question, how can i: be removed ?
urn 1 do not intend to dscuss i on t uso c ision.
I shall only say* that the task is one of great
cs- delicacy and difficulty. r"qu'ri g much wis.
and doin and c.iu'ion, and in I ie execution of
of j which, precipitation ougfr to be carefully
I. 1 avoide 1; bu: when executed, then and .no
ive till tlt n, shall we have the solid, stable and
mi- uniform currency intended by the Constuutci
lion an ! which is indispensable, not only to
you the full success ol our manufacturers, and
jw. all other brandies of pro met y industry,
[\:e but also to the s if *ty of our free institu ions,
eat Tlie next in lispcusable step to secure *o
en- the manufacturers the foreign m irk-'t, is low
une duties and light bur lens on productions;
kiil, yes, as low and light as ih? wr.nts of ttio
led (lovoimhent will perm1'. T <? le^s Mm burtry,
dun?t<io fjoi-r aii J broader the scope a hen
cu. to tliu-firoJ jets of our m uinfacures?ti *?
r be'ter for tin-in. Above all, avoid the reitj'l
ncwal of the protective system. It would
dw, (> fatal, us far as the foreign market is con'
O
fo- cerneu.
n. Its hostile efF c!s I have already shown
ho- froru the table of exports; and shall now, t>y
itb. a few brief remarks, .prove that it 'must be
cv, so. Passing bv other reasons, I didl pre
ent sent but one, but 111 it one decisive. If has
ssi- been shown that the elf.:ct of t ie protective
in- system is to expand 'lie cii-iency in th *
?u- m mufucturing sections, until the increased
ien price of production shall b-comu equal to
be the du'y imposed for protection, when t!?e
st | importation of the pro ected articles must
i?' j ae.ajri take place ; that is to say. that i s ef
lay ' fee s ure to enable foreign m mufac uies to
I
or- . in e; ours 1.1 our own country, under fhe
i'"h j djsudvan a"e of paying hteh additional duti
m ' es. How, then, with that result, would it bo
u n possible tor our manufieiurers to meet ibo
0,- jortu^n fabrics of ihe same description able
bro 11, where there can be no du v to protect
* II 0>*? ri ?' TIj r?, <>iim In. nr? arn.inr. T.?li !
11 " 1 * > I * ft * IV Villi w # M\# M?|W - w? - _
iy- reason is dcisi.e.
?ll. I do dot wish, in what I have said, to be j
icli considered the ndvo *a;e of low wag- s. I
lg. iin in.favor of high wag s ; and agree that
jg- the fiighrr l!:o wages, fie stronger evidence 1
Is of prosperity ; provided (a id itrit is tie* im
ir- por ant poitr) ticy are so naturalh, by too
J. ffedivtness of indydry, snd not in cons"t".J
qpenc" <?f in uWli "d currency, or any arti
r&ft t ft:,i.il filiation." \V ieu I siy the cfF-ct
10? iven 'ss of nidus rv, I oie n to compehend I
jr.. j wh never is r ilcula e I to in ike t ie labor of
ss- o'ie country more productive than that of;
ion others. I take into consideration skill, nc-,
or. tivity, energy, invention, petfectton ofum r'liult
wr nts and means, mechanical and clvmime
cal ; abundance of capital, natural and ac10,
quirod ; facility of in'errourse and exchauif
ges, intern il un I external, and, in a word,
0; what ever may add to the productiveness!
me ol labor. High wages. when attributable
0,. to lb sc, is t!ie c-Ttain iwidciico of pro lucof
tiveness, and is, on that account, and tnat
os- on!), the Evidence of prosperity, it is easily
?ri. understood. Jus! as such labor w.mid corn
1to inand, w hen compared with the less producon
live, a greater number of pounds of sugar
the or tea, a greater quantify of clothing or
me food, in the same proportion would it comet.
mund more specie, that is, higher wages,
ry, for a day's work. But, sir here is the imin
I portant consideration : but wages from
of sucli a cause, require no protection?no,
;is- not more than the high wages of a in an u.
?nd gainst the low wages of a hoy, of man tier
gainst women, or the skillful and energetic
in.I against the awkward an 1 feeble. On the
lue contrary, the higher such wagos the less
Dur tiie protection requTed. O hers may dered
mand pro'ection against it?not it against
ion others. Tno v rv demand of protect.on,
the then, is but a confession of the want of efj?t
lectiveness of labor (fr?im some cnus ) on
as the side that m ikes it ; but, as a g-n rd
ate rule, it will turn ot?i that protection, in most
lay cases, is a men; fallacy ; certainly so when
but its effects are an artificial expansion of the
re- currency. So fir are high wages from he.
in ing the cvi lence of prosperity, in such cas s,
f. or, in fact, whenovc caused by high procv,
tcction, high taxes, or any oilier ar'ifi.-ial
ur i cause, it is the evidence of the very reverse,
ad and always indicates something wrong/nnd
on- a tendency to derangement and decay,
va- Having arrived a* this conclusion, I will
re- now Inztrd the asser ion, that in no country
'1* ^ on Anrtlt io I 11 i/v f tulriiiir it nil 1,1 ull
** VII 10 I'li/vi, m I\II IV III ?! * w
e.-. efF eiive than ours ; iui<i ?*sjp?*ci:? 11 v in ill'*
do- Northern and E is cm portions. Wiiaipro
the pie can e.vel our Noithern and N'-w Eng.
}an i.?nd bredtrm in skill, invention, activity,
to energy, preservation, and enterprise? In
hat what portion of the globe will you find a;
ilue position more ftvorable to a free ingress
icy and egress, and facility of intercourse, ox:
is ternal and i.itern-al, through thebroid limits
y on of our wide spread country?a region sur
in- | passed by none, taking Wfa cons'deration
[ do | exent an I fertiliiy ? Where will you find
ori-1 such an abun lant supply of natural capital,
an- | the gift of a kind Piovtdence; lands cheap,
is- plenty and fertile ; vva er power unhmi fid ;
but j and the supply of fuel, and the most useful
we of me ai's, iron, almost without stint. It i*
the true, in aocutnula'ed capiial, tli? frit is ol
as past labor, through a long succession ?I
oes ages, not ?*qu d o some other countries,
*ur- hu even in that, far from being deficient,
cul-; and to wuaievor cxn nt deficient, would be
late i more than compensated by the abs-nco ot
jed all restrictions, and t 'ejightness of ihe burIs
den imposed on labor, should our Governis
; ! meut, State and General, wisely avail itself
ti ' i of the ad\ aninges of our situation. If tliose
' views fie correct, there is no country where 3
i labor, if left to itself, free from restriction, t
would be more effective, and where it would p
command greater abundance of every tie- ?'
essl^v and comfort, or h gher wages ; and 3
wiii;ret of cours", pro'cctioti is !< ss needed, u
InsU'ud of uri advantage, it nmst, in fact, il
prove an iinpediment. It <s high urn**, hen, e
that the shackles should he thrown o(f indus a
try, and its burden lightened, as far us the ei
just wants of the Government may possibly e
admit, We have arrived at the manhood ir
of our vigor. Open the way?remove ah pi
restraints?take off the sw id JlingcIoMi that ei
oouu J ihe limbs of infancy, and let the h ir- ui
dy, inelhgeut and enterprising sui'f$>oLN"w b'
England, march forih fearlessly*wjineet the te
world iu competition, and slm tfdl prove, ol
in a few years* tht)sucQess'id^rival of oil b<
England. Tne. foreign market once com ol
m md-d, all conflicts Ix-tween the different of
sections and industry of t Te Country woul I nt
cease. It is bet'er for us and you, thai our
cotton should go ofct in yarn and^good-, than
in the raw state;, and wiien that is done,
tr?o interests*' of all the parts of this great ^
Confederacy?North, IS is', South, and
West ?witti e< ery variety of its pursuits,
would bo harmonized ; hut not till then.
If the course of policy I .advocate he wise
as applied to manufacturers, how much '
m<>r- strikingly so must it he when to the ,
other two gr-at ofthat section, commerce
and-navigation ? I pass the /?finer, arid
shall conelude what 1 intended td say on this in
point, with a few remarks apjrficiiblelo the .
latter. Navigation (I mean tn.it employed
in our foreign tr?de) isesscnti lly our outside
interest, exposed to the open cotnpeti- ,
lion of ill fie world. It has m?% and met |
successfully, the competit-oii of the lowest
wages, not only without pro tclioti. but with
_ I I M
heav) hunJens on aimosi every annuo inai i
inters into the outfr, the rigging, and cons
ruction of our noble vessel*?, tli timber ex- } .
^ lit
cepfdj If, with su *h onerous buideiis, it ! ^
has met in successful riv.dr) the navigation ! a
of all other countries, <V:w? an impulse it ,
would receive il the lr> .<1 tint bears do vu its
springs were removed ! and wha immense
ad Jitions that increased impulse would give,
not only to our wealth, but to the means of ,
na io.ial influence and sifefy, where only i '
we can he afel, and in fie quar er from J
which only external d ingor is to be approh?:Q
Jed I
I hive now, Mr. President concluded
what # proposed to guy, wh-n I rose to ad.
dress the Senate. I hav" lunt-d my re- ur
m irks'o#10 prominent consequene ? in a
pecuniary and lis al view, wlrch would r<'- ?
sol?, should the scheme of ussnrnpt on he a *
adop ed. There arc higher, a ad slid more ,!
important consequences, winch I nave not i
attempted to r ice : I mean |V cAvcis, ritor. r!'
ally and poli'callv, us resulting run hose
which I tiave t.aced, an I pros'nt* d to the
Sen ile. Tins, I hope, may be done b . ^
Koine other S n itor, in :he course of th
disCiise'on. B j I b.hve sn I enough to show i j
hit the scheme which flies" resoluiotis are ^
j ntended to condemn, ought to be avoided
:m the ni >si fut'il po son, and fir m st deadly
p- s'ilcnec. li is, in reality, but a sciiem't |
( ol ptuudt r. L-t bloo I be 1 ipp~d, an I the } ?j
appntiti* will he ins itiNiblu. n
' *, - - ? i ? l. i ! LI
| DJI Hit* OWU-s are uerpty m ii'-rr, ;i:ri r j
may I)? a?ked wli.it shill !> done 7 I know I
tii.it they tire in debt?d^-ply in d?bt. I | ^
deplore tt. Yes, in d?-bt, I am not alraid to ! ^
nsser; i% in m my instances, for the most
idle projects ?'V up and pursed in the most
thoui^iitlons in inn? r. Nor tun I ignorant j *(
how deep pecuniary embarrassmen t, wlie.
tier of S ate.s or individuals, Idu t every ^
feting 01 honest firi le, and dead"n the
sense ofj?isti'*e , hi, I do trust, ihat there I
is not a member of th's gr-'at and proud j
Confederacy, so lost to every feeling of self- .
respect and sense of justice, us to desire to g j
charge its- individual debts on the common ^
fund of the Union to impose th'-m on the
siioniders of its more prudent associates ; .
or, let m" add, to dishonor i self, nil I the
11\
nume of an American, by Musing to pay
the foreigner what it justly.owes. Let the P
uideb ed S itesrememlier in t me, that tlv re ,
is b Jt on*' honest rno'Io nfpnvjng its deb s; "
stop ali further increase, and inpose taxes, ?
to discharge what they owe. There is not i1
u State, even the most indebt"d, with the
smallest resources, thai has not ample r<~ ^
sources to mc't i s engagements. For one,
[ pledge mystdf; So tli C-rolma is also in ^
debt. &ie has spell? h?-r thousand in Wasictul
ex r.ivammCrt oil on" oftbi^most visi* ,
onury schemes that ever en'erd ijto^yc |
lead of a thinking titan. I dare sav gfiis |
even of her; I, who on. this floor skmu i?Jrio j '
defend her almost alone against thrtsdMfcho I ()
llire atoned her with fire urni sword, but who I ^
now arc so squeamish about Slate Il'ghts I ^
as to be shocked to hear it asserted that a
f |)
S ate <s capable of extravagance and wastetul
expenditures. Yep, I pledge myself thaf
she will pav punctually every dollar she ,p
owes, should it take the last" con*, wkbo.nt ^
inquiring wlv ther it was spent wh.wyipr ,
foolishly. Should I n this he bv possfbtli- ^
ty in staken?should she tarnish her-jinsulli?
d honor, and bring discredit.on Our common
country, by relusing tb redeem her
plighted faith, (which I hold impossible,)
deep as is in, d-vonon *o her, and mother S
as she is iouv, I would disown her. 9|
itl
PERS >N ALlTIEs IN THE SENATE. ^
The Washington Madisonian, in i?s ac. flJ
count of the proceedings in the Senate, on j
the 5'h ins nnt. gives the following sketch ol ^
a debate between Messrs. Grundy and
Tallinadgc: s(
\\t the close of his speech, Mr. Grun ly J
threw oHT the character of advocate, and ^
assumed ih=?t of a soli um jps:er. aiut i a
predicting t'?e disappointment of the Opposition
at th* next cl' C'iou, he sa'd fa*
wou'cl expert tohi'ar, in the account of the
. ||l
baitl -, ol t ie d&fp ti: tug cry, ^
Charge Crittenden, charge, on Tallmadge, H
on! j,
Were the last words of Harrison !' (i
"Mr. Tutlmalgo replied to Mr. Grundy tl
and ir>conclusion sai l the honorable gen- a
tlemnn has undertaken to predict the dis- o
comfkure of the Opposition at the next ?'*
election. fie has not been content, said s
1 I
i ;
lr. T? to do it in humble prose, but und?
10 inspiration of Ids theme, has turne
oft, and has p^alejl us, after a long in
ubu ion, wi h a parody upon a couplet fror
farttiidri. To be sure, said he, the meas
re was not very accurate, but thnUwns nc
if fault of Senetdria! poet, but of the unpo
;ic moans of lie Senator from Kentucle
ud myself. Now, said Mr. 'I'., the vcn
r.ible and lionorabie poet will, no doubi
xcuse me if I mount my Pegasus, nn J tr
iy skill a1 parody, impromptu. He wii
crceive rhat T labor under the same diffi
ilty that lie d d?an 1 although the nieus
re tn >y be as halting as his own, there wil
? more euphony ^.in. die names.
11 the honorable the acroun
tuf greai batthf ^J^ph^ht in Novcm
ir next bv the pebpIeu^ainSr the minioui
'power, ms'eairtjf the dfgpjur# gjartguagi
' hisjpnusc, he will ficfhr 6?Ahe inspiring
)tes ofr victory."
\ / *
'Fly; Van Buren; fly, run Grutjdyfnin,
Were i he first words of Harrison,'" % ^
"Mr GrWly si i J he was please sot
e linaorahle A'oator from New York it
i' h a h ippy hurnor, i?nd he thought they
ere both in a fair way to have their per?nal
difficulties s tlsfac orily udjusted. H<
euld, therefore, propose that the uccoun
wit and poetry be considered balanced?
dr. T. nodded assent.) But said Mr,
rundy. I must add one or two more rearks
before I close. The honorably Sonor
from New York, in his reply* to me,
is said that he nad not left his' party, but
at his parly li id lef h.m. Ifow, I know
' no hett?T way 'ojudge of a man, than by
o company he ko-ps; and I find the
mator from Now York, who formerly
tied with the honorable Senator frorr
ussachuseits, Mr. Webster, who I have
aieraily found in opposition to myself,
is been pretty uniform, too, in Lis opposi.
in. Hence I conclude that ;t is the Sen.
or from New York that has change J, and
it mi/ci* tr in.I m t> fri .riltu
"Mr. Tallin elge rejoineJ, lhat if associ.
?oji was {lit* correct rule by which to ticrmine
(lie. changes or the principles o!
en, ho couM prove, a9 conclusively us a
mohslralion in Euclid, liiat ti10 change
;is on ihc purr of the S -nalor from Tontssee
an I ins friends. Those gentlemen,
id Iv, are now associated with the lion,
aide* nu'or from South Carolina, Mr,
dho nt, ,n support ofuli the leading meases
of ll e administration, and without
'>os?' ?id tI?t-y could not sustain themselves
ra s ho Mr. . No .v, said Mr. T., I
ill prove by the honorable Senator fton
jutti Carolina, that he never changed in
s life?Ergo the party has l? l't me, ct.c
>t I the party?quod erai demonstrun
im."
Some sparring occurred between Messrs
U' han ni and Davis, on the O h insf., o
inch discrepmt accun'a are furui-died Lj
(Fen nt reporters. We copy sometvhu
)tidgcd, the accounts furnished by tin
lobe and the M ulisonicn.
From the Globe.
A few days since, a friend prcs- nted t<
[r. Buchanan the printed speech of Mr
avis, in which statements are put into lh<
until of'Mr. Buchanan-doctrines asserted
h ive been advanced by him?and argu
nr.ic urond. nr.t mi!v at variance will
lint was 8'?mJ l>y M:. Buchanan, but utter!)
Tvertin* the whole tenor of h s *peecl\
few da)s snee Mr. Buchanan, b? fort
e Senate, nailed Mr. Davis's attention !c
is rna:ter, nnd ofTred him the opportunity
make reparation. A full explanation
as deferr d by Mr. Davis unti
day, when be made nn attempt to evade
? answer to the par i?*ul ?rs pohited out
which he had misfepresento i nnd wren;**
I Mr. B iiidiaii.'ii, end to ruse false issues
i ihe subject discussed
Tins prevarication, in lieu of reparation
akihg.naore signal the bad sp ri: and mo
re in wliich the original wronj* was per<
crated, on Mr. Buchanan to expose the
!?o!e case to the Senate and nation ; nn'
udin nistered such a chastisement of th<
F nceaswas never before witnessed it
deliberative assembly in this country ?
^i'h 'he utmost composure, Mr. Buch.mat
ferr'"J to successive passages in i>jr,
vis's speech, in whici th* Utter hat
lolly urid ?n wiring {ulsifi :d wh atever)
nator pres'-n: kn(,w to bo the s/'ntmj'.*nts
nl cxpr s-sions ut eied ih tlwir presence
; Mr. Btiehaniin. He showed liroaijiif
'inted speech, to which Mr? DaVlS J&fjf
(if us well as tl)% various*speeches ofpre
ding years, that the doctripe* laid dowr
r him, aml-tue consequence ?*if. rred fron
m, had not only been misrepresented
it absolutely reversed, fin the purpose o
a king (also impressions upon the counin
; to the opinions of Mr. Buchanan ani
ensures p'opos' d by theJAdHTin straiiou
tie "false imputation " ifoe" ^igiticks'
s:gn. the 4 p irlHtulurj/y infamous condryct,
Mr. D.ivis, was n^wnervlykcharged li|
fr. Buchanan, Jfciit f>rov"d and braodec
ion him befoi^the S^ natj^
The Mwlisoniatfs accoumJ^ ^
Messrs. Davis anp^p^ajj^^Jn'tly
n it j yes'erday, when itajOgfrt of tbi
)'*ciii| committee on iho3tUtyjCj?l$j!s wu
idi r consideration, Mr. Davis, of Mussa
lusctts, took occasion to defend hin?H
gainst the charge brought by Mr. B
'having misrepresented nis argumens ii
- * i_.
s putrii*!ierj sj)C< cu. II was u comptei
ici triumphant vindication. The publisher
vech of Air. Davis is a faith Ail n part c
hat he sai I in the Senate in reply to Mr
uciiunau, in tue presence of that gentlemal
nd Mr. Davis distinctly gave him notici
ould be ad tressed particularly to hi
miarks. Mr. Buchanan did not thci
uiiceany miss'at' ment of his argument
lut now, after more than a mouth ha
lapsed, and after the public voice has beei
card in tones of the most indignant, an
ecisivo reprobation of the doctrines he wa
u*ii undets ood io advance, he comes 01
ud in tkesan occasion to charge aSenu:o
f the highest character for candor nn
ecu racy, with having misrepresented hi
p 'ech, and embraces the same opport'jn:'
8
t, to put forth a very different set of view
d; und proposiiions.
i. j Mr. Davis spoke throughout with the
n j dignity which has always characterized
i?[ his personal dcpor.meiit and public display#
>t j and with the directness and boldries of truth;
1.1 and wo believe that ui] impartail perspns
y regarded birn as having entirely justified
./himself ill the account of Mr. Buchanan's
r, j argument, contained in his (Mr. D.'s)
v J speech, in his Course throughout
II j this discussion; \
Mr. Buchanan, fiuMHvv, did not deny j
- j that the published ^ceth df Me. Davis was
i | a correct report JSBw&t that gentleman
1 ' delivered* in the he persisted
' Jo mamtfcining cnd arguments
?hs to the operation .und-o^cts of the sjub?
j Treasury bill were auribfllsj to hlro in apt
3 i publication which be had nev^r used. We I
$.j 'regret to tj>a? tft commenting on these ?
I alleged'hmisreprt'siu^atior^^^w which we
' maintain arc yeff&clly ac<^Kj^0t?TCSinlai
Hons of whaCwc HnUer&*>a Senator to
J say on the occasion alluded to Mr. Buck- .
' j anan used iauguage utterly umbecoming
! his character aud position, most discrcdihii
tie to the Senate i:self, and such as every
^! man who kyows John Djvi$ v*dl repel as
' | altogether unjust and inapplicableh'ryri.
i Such words as "false/' ' flagitious," "pe.
f culiaily iafamous."
Mr. Preston look occasion, after the
! conversation between Messrs. Buchanan
i and Davis was 6v^i\ lo sUUe emphatically
1 j that ho had pp?rehenued the morning ami
"! force of the return ks of the Senator Irom
! Pennsylvania precisely as fhey had h* eu
| understood by Mr. Quvi.%^ Mr. Clay boro
| the same testimony.'" Meirick, and
| Mr. Henderson, and Mr. Sniiih, of Indiana,
1 in their speeches on the sub 'Treasury, each
'; at'ribumJ to Mr. Buchnnau precisely tne
' j same course of argument.
- ' vj
I St. Augusts R, MAECH8.
j Successful Effort of the Bloodhounds.
, I Within a few day?. Major Loo mis, {J. S.
.! A -, has enp'ured an Indi. n on the Wanes*
[' sassn, by means of our excellent Cuban
i; auxiliaries. When the "trail" was s ruck
; j and followed for some time, the dogs be.
.; cumo Very impatient of the leash, anJ by u
, I sudden bound, broke loose from fla ir keep,
j ors rind dashed away in gallant s'vfc. The
, : u ijtj uiru i.iir uuativa iiiu us
, u short time came*up to the sceuo ofacbotij
l! where the r:ohle clogs <0)* had floored' il
gigantic savage, and held him on the ground
| , without appai iug disposed to do htm farthi:
er injury.
A rumor has reached New Orleans)
' I from Mexico, that a negotiation is pending
i between England and Mexico for a cession
! to England of the Californias. The cesj
s on of the f.vo provinces would give to
f' Gieat Britain an extensive and valuable
[ territory, in a part ui: ih*? world where ?h?
has been an.x'ous gain a foothold, b?-sicJU s
" S'-cuiing an object ?iui more desirable?
I a spacious/unge of sca-const on the Pecibo
1 stretching more thin a thousand miles from
the 42d degree of latitude, south?sweeping
' the circuit of the pcuinsulu of California
' i and embracing the harbors of that (julf, tho
| fines! in North Amwtica.
The regular meeting: of the Chatham
, i Society will be held at the Male Academy
to-morrow (Saturday) evening half past seven
, o'clock. The question for discussion is, 4*Sho?ild
, j Judges hold their Office for a certain term of
1 years, or during good behaviour."
11 F. LY.N'ClI.S c'y.
j March 2Uth, 184().
'* ' - gfesggg m?p
Salt.
Tj SACS for sale low bv
Ml WWW A.RLACOSTK.
I March 20ih, 1810.
'j 19 tf; ?
I Sugar & Coffee.
i i
. 12 Ilhas. Porto Ilico and St. Croix Sugars.
10 Bags Rio Coffee. For eale low lor cash
nr ni'ipr.
1! r r A* P. LAMS?. March
20,f., 1840. *
1 cJlre?sc for 3U) 'dft- ~ ?
' d^HEESlu of cxcojkni tiiwlity fJr sale fur
| nine actus by and ton Cent*
? pcr.pound bwtfhe sinJfc fJWese. ... __j
ft A. r. LA^aM*.'
1 Marc!) 20th, 1890. - - /
10 tf
? | Bugging & Rope.'
I 30 pound heavy 44 inches Hcrnp Baggir.j.
' 30 CoL'e Hale Rope. For sale low bv
a. p. lacoste:
M Much 20 h,-1340.
;i _ , , '19 tf ?
S- ('UmRriega^l^r
f the Loaf, for .bio L| Mw> >
A.!', LAC
Mirch 20:h, 1849. ' Ji .tCapfc. N
Mackerel
I 10 Enrols No. 2,^ - **
20 Casks Thomastoa StGW^Bfe^.
1 Fc: Palo tow for cash, by ... .
' A. P. EACOSTE.
* March CO.h, 1349.
f ID - r ff^
n
f Notice.
i ||F AM now receiving part of my stock of
1 -EL Spring and Summer Goods, comprising a
general apartment of seasonable Goods, which
s I will sell low for cash. Purchasers will please
n call and examine fur themselves.
d ALSO,
s Will be kept constantly on hand a supply of
it German Bolting Cloths, equal to any used iu
r this country.
d MALCOM BUCHANAN'
s March! Hfh, im
y ... 18 *f