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,'Chz " True to his charge he comes, the Herald of a noisy world; ffews from all nations, lumVrvng,at his back." ;

D. BRADFORD Editor. LEXINGTON, THURSDAY, APRIL 19, 1838- - No, 16 Vol. 53

PRINTED WEEKLY EVERY THURSDAY,

BY THO. T. 33,-A-r70F-.D,

FORDJlNIj. BRADFORD.

XPublisher of the Laws of the U. Statu.

HMfBLISlUNO OFFICE, MAIN ST. A FEW DOORS BE

LOW BRENNAN'S INN.

Printing Office al the old stand. Mill street.

TKRJI3 OF THIS PArER".pot ftnc sear in advance $3 50

fnot paid before the end of 6 raos?, 00" with'n the year 3 jO

tio pager' will be discontinued until al arrear-

ages are'paid, unless at the option o. !ne &ai"r.Q7-Lejl- ers sent by mail to the Editor, must o.

post paid, or iheylwillnot be taken out oft of-

fice. p ,

A T V E RlTI S I NG .

1 square, or less, 1 or 3 times, $1,50; t icemonths $4; six months 7,50, twelve momsJ15. Longernnes in pronorton.

A. LIST OF LETTERSEM AINING in the Post Office in Lcxing- -

a ton onth'e 1st of Aptil 1833, which,is not UkerrouT within three mouths, will besent to the General Post Office as dead letters.

Mien Mary A 3Aldridge JohnAustin Wm HAdams PleasantArmstrong JohnAeard David

Banks John OBaker WilliamBaker Harvey DrBall Charles C WBall James Wlialdrick JamesBerryman Thrashley "

Berryman HensleyBlakey Sarah RBatlcnhalt D CBamberger IsaacBeaurhamp JesseBarnelt SBales James Dr 2Bayles JVilliamBarton JohnBean Joseph WBell Ellen missBitner WmBerry NewtonBellR

Carter MrChambers SpriggClallerbuck CCarter Si SansCable MClay A J .Campbell ArchibaldCampbell Ogle 2Clark Ann missClark AmosClark HenryClark Wm RevClarke BenjaminClark MCraig Charles FClark JohnCabanis S D 2Crawl JeffersonCarrell Julia A missCaldu-el-l John )VCavanagh M .

Carotin HughCraig Ann ElizaCraig Joseph

Dudley Joseph 2Dudley B F DrDudley B G 2Dnnlap WRDunlap RichardDunlap Emily mrsDe Beard George EDauphin ThomasDivine DanielDavis MalindaDavis WR G 2

Edgar RebeccaEast RobertEmisonM missEmbry M A missElmore James RevEader WilliamEarp Joseph

Ford Benjamin 2Ford WilliamFord ElenorF.nneyJohnFlemming EslonFox S FFarrer John R

'Geers JamesGist William SGraham R W Dr 2

GrdifB FGray MariaGuthrie Wallace

Griffin RobertGroom Louisa miss

Graves CharlesGraces,MalindaGrooms Elijah

.Hawkins John CHawkins Charles, .

Hawkins R T DrHanly Mary missHaviland R SHa't mrsHensley JamesHarris flancy E miss

Harris mrsHannah JamesHennan John RevHarlow WjlliamHerndon James HHampton HenryHind MargareltHall SusanHarvey WilliamHawkins WmHay NancyHay GeorgeHenry JohnHdeu RandolphHarp George

Judy George HJennings Isaac )r

renkins James

Alexander CharlesAngel GeorgeAbbott James,Areher JamesAUaben Wise M DAshurst Cfaig

R ,.' -

Berry. E E.Bradley Lucy mrsBosworlh BBuckminsler E FBoyds JohnBolls MosesBoardman MorganButler NancyJiarns felerByrns RobertBeerden E

R TBowen Wm DiBruce William JBruce William WBryan MorganBryant JesseBillups JohnBowling EdwardBroaddus ThomasBrown LangleycCampbell C A RevCoit T, WCummin A JCunningham Wm II 3

Cooper ValentineCougill George

3 Curch ThomasCurd HenryCurdTCook P HConey Thomas 2Collins George WChinn MA 2Colvin A HChristian G ACombs William R 2Crystal James ECropper TheodoreClements ThomasCochran J

VinsonConner RichardCrusar James

DDavis Thomarine missDgdd Betsy missDodd MaryDunn Rebecca mi.sDixon W CDeberelt James ADodge V H

Dgrathy ThomasDowney Ann P 3

Davison George W 2Dunn A R 3

EEpperson GreenberryEaMinA FEnnis Sarah A missEvans J DEvans James MKvansAmos

k ChinnFFlint & GreenFults 'VjilenlineFsrgiJonVbhn 3Frazier AlexanderFraztlr Moses 2Frazer Mary Jane miss

GGivens BenjaminGlass RobertGordon GeorgeGordin William MGeuCerl JosephGeltner John ,JtGibson John . iGrimes JaneGatewogd'Ji HGivaull Thomas P

1

IIHersman JosephHayden.J TBHigbee James PHigbee JamesHani G D

' Hunt WilliamHunt Ruben RHoward SamuelHoward GideonHillex AnnHutchison MargaretHill Martin G

. Hudson JohnHicks JamesHicks ElizabethtmissHughes ThomasHowell James DHyndes DukeHunter MalindaHodge. A lexanderHyde JohnHowell William B

I J SJenkins A HJanes W R

H- -SS

Kulz Matilda 2Kerby E P DrKensler AnnKlaneke HKernen JamesKnight James

Lewis John FLouis LLaffoon Richard 2'Lowery 'NLowry W S Dr-Lan-

George 2Lane A PiMiller Green KMiller Jc?hMiller A KMiller Isaac RMiller JVitliamMiller John 2Miller AntonMartin Ann BMoling WilliamMillward JMillward Eliza AMonlacue SimeonMitchell MarffB missMorre ButlerMagee M missMerrell Wilson 2Merrell WilliamMills Charles L RevMatthews WilliamMoore ElizabethMason A IIMorbey JosephMoss DemosMathers SamuelMoore William G

Newberry John

Norton Coone

Owen Thomas SOjfutl Elizabeth COjfult Warren 2Overton WHOgelton Mr

Parker WilliamPaten WilliamPertle Roland 2Palmer, J EPalmer JamesPresfollMrPallersrn JeffersonPledger Mary missPaesner JonathanPayne Elizabeth missfayne Lyaia miss

Redman CharlesReynolds CharlesReynolds Isaac 2Rankin RobertReed B missRadford Enoch 2Randal Richard 2Roberson AlexRogers CatharineRogers John

Isaac S

Steele Lewis FSteele JohnSteele SusanStunhuis Jacob

David 2iprague CViSales mrStewart ThomasStewart WesleyStewart JohnStaler S DSeele'yBWDShuly John 2Sparry Charles RevSavage Charles AStraws Melvlnamiss

L EStephens Benjaminblevensons IVilliam

TV

Seivev TMLawrence

Scott SIScott John J

iTankley DavidTinder SimeonTisdale Henry STeasdale RTrimble HTurner Nelson

Frank 3'Tilboll Benj --

Thomas L C

A- -Vanaktn A

K ,

Kavanagh Mary AnnKenney Robert B

MSusan P miss

Kenning James

LLeir John CLaws KelsonLinsey JohnLoyd J LDr 2

, Lyne ThomasLighlner SamuelLang Jfilliam

MMoms Thomas AMasry JamesMurphy JeremiahMoor? WilliamMaguire NelsorlMarks William JMoony Mart,Morlan WilliamMonks ThomasMiles RMetcalfe Jacob RMossesan JamesMcMahan JesseMcGlashan Charles 2McAfee JVitliamMcMicken Samuel 4McCann WilliamMcClellan WilliamMcCrary IHlliamMeKane HezekiahMcCoskle James 2McPherson AMcGlaley PatrickMcllvaine B RMeCo,.r.dlG WV

NJVitliam H 2 Nash

Normenl William 3 Mewland NathanNewbern Thomas H

K

M

Rogers 2

2

oOglesby UB 2Oulen SallyOlmsby MrOiRouke R MOstan Roisey

.QQuarles R

PPayne Eliza Ann MrsPayne EdwardPayne B FDrPrice HarrietPu'len TMPickett JeremiahPaynor MrPolk LouisProtr-t- Robert , .Police G W

ItRunyon Amanda missRussell John 2Robert-io- n JohnRyan William

James 2Richards William TRobbins JamesRusk Ann missBusk RobertRoberts AdolphusRose Samuel

SScott J MSprou MarySproul LeliliaSimerall John G Rev 2

Sleedman Millicent missSlone WH 2Sheppard

2

Scheicher

KennedyKenkead

Richardson

Simpson Elizabeth missSlrnelh ntienceSmith Darid BSmith TR HSmith James WSmith Richtrd'imith Joseph RSmith WilliamSmith JohnSmith Juliana missSnoden John DSloops W IISoifus famesSeovil vilresler RevSubletl IVilliam

Stevenson Catharine R Siory James

Spencer

WTalboll

Shoemaker LSloan HMDrSpotts Mary E missShinglebower Thos J 2Sullon W H

TThompson Andrew 2

. Thompson MiloTaylor Mary A mrsT"te B GTodd F W, M DTodd SamuelTodd HenryTodd Betsey

V YVancourl L CYoung Sarah H

"WWallace EltprTH miss Walling Henry 2.Weir Harry IVvldcu J D.

fWashS.t Wilson JohnIVaUon William. Wood JohnWashington Edward JTyatl T TJViglherford William WHliams VdwardWaggoner Edmond Rev Williamson JohnWebb Waihiiiaton Wilson SusanWelch John S Wilson Slu.nford.Dr 3'JVallen William 2 Williams George A

AV-Perso- annlviucr for any of the aboveletters, will pleae say," they are advertised.

JUSKl'U r. i.April 4, 1838 I4-- 3t

NEWJSOOBS.HUNTER, HALE Aj HARPER

"NFOllM their friends and the. public, thatind atthey are now receiving openinc;

their Sture Rooms, No. 4r, Main street, thelargest and most elegant assortment q'MERCHANDIZE that they have ever imported,cnmpiising a most complete and desirable as-

sortment ofSPRING & SUMMER

FANCY & STAPLE

To which they respectfully invile the attentionofiillwhomay wish to puirchnse: feeling as-

sured that they can suit, them in goods and inprices? '

Lexington, March 28, 1838. 13-- 1 m

'FOR SALE AT THIS OFFICE,Deeds, Warrants, Kiss Verses, fyc.

THE INDEPENDENT TREASURY BILL.

SPEECH OF MR. BENTON,of missouri,

In Senate, Wednesday, March 14, 1838.

ON THE BILL TO SEPARATE THEGOVERNMENT FROM THE BANKS.

Mr. BENTON commenced his speech withremarking on the diffeient manners in whichthe discussion of the nill had been conductedon the different sides of the House. The chair-

man of the Finance Committee, (Mr. Wright,)who had reported the bill, and opened the de-

bate, had done it in a most business like man-

ner; his luminous and masteily exposition ol

principles and details being entirely confinedto the subject, and never once deviating intoextrinsic matter, or touching upon any topicof party, or partizan character. Not so thespeeches 01 tne opposition oenuiurs. iuu. mcverv beginning they launched into the ocean of

... Miitics, nnu uiaue tne dhi me uix;usiuuSf a general aW upon the Republican Ad-

ministrations Ji'cks" "of BeiK-- 'l

been AceuimedVan Buren, such as we haveto see for a long time on thi floor, i "e ueMie

has been conducted by them as a contest iu.

power, aud not as an inquiry into me mem uithe bill. The speeches they have deliveredhave been such as mizht be expected at thepartizan encounter of the hustings, on thetump, or at barbecue dinners, in tl e course of

an e ectioneerni2 campaign lor an electiveoffice, and not uch as would be looked for inthe parliamentary discussion ot a legislativemeasure.

In his attack it has been assumed for grantedthat the countiv has been ruined by what iscalled the mad and wicned administration ofGeneral Jackson ; and that President Van Buren beine pledged to carry out his line of policv. is of course Dled'ed to so on ruining thecountry , and mereiore ougni 10 De resistcu aimoveithrown. I propose to inquire into thetruth of these assumptions, nnd to ascertain,first, how far it is true that the country has, inpoint of tact, been ruined; next, how far thisruin, is anv. has been the work of GeneralJackson's administration; and, ufter settlingthese preliminary points, I shall have some-

thing to say on the merits of the bill, and some-thin- s

on the peculiar 6ystem of party warfareol which this Seriate has been the scene, for thelast six years.

In makiiigmy inquiries into the ruin of thecountry, lam not lest to grapple with vaguegeneralities and pointless declamation, forrtunately for me, the opposition orators havedescended to specifications and have shownwherein this ruin hns been perpetrated. Their.specifications embrare almost every brinch offoreign or domestic policy; ana tauing the ernof tl e second Mr. Adams' administration, whenthemselves were in power, and their cherishednational bank was in its meiidian taking thisperiod as the culminating point of our Ameri-ca's prosperity, felicity, and renown, they tracea rapid descent, from that high point of nation-al down the steep road to des-

truction, until the entire nation is landed to to-

tal perdition, in the year of our Lord, 1837.They have given us specifications, but therethev" stop. No proof, no statistics, no statements, no comparative tables, accompany theirspecifications to establish their truth. Bold assertion, and terrtlying descriptions, occupy tneplace of proof. These fierce denunciators assume to be independent of facts andof'reasons;and they rely upon slights of fancy, dashes ofimagination, and tierceness ot invective,to sup-nl- v

the nlace of proof and arji'menl. I haveno pretension to this preroiative. I am a plainspeaker, and tell what I know, and then proveit. Keversing then the method of our oppo-nents, I shall discard altogether the paintedand eilded creations of the imagination, andshall confine myself to the effective logic offacts-an- figures.

At the heaiTofthe specifications of gentlemen,is the article of commerce, both foreign and domestic, each usserted 10 have been prostratedand sacrificed by the fatal policy of GeneralJackson's andministration. We will test thetruth of this bold assertion; and for that purpose will have recourse to data which no genlleman will be at liberty to question. And,first, of domestic commerce. The great Westsnail he our first fie.d of inquiry, and casting theeye over the broad expanse 01 that inajnmcentregion, we see tvo points at which the com-

merce of the upper half of the valley of theMisissippi, is subjected to a process which allows it to be annually and easily, counted andcompared. These points are, the Louisvillecanal for the commerce of the Ohio, and theport of St. Louis, for the commerce of the Upper Mississippi. Kelenng to the evidence ob-

tained at these two point, and we have exactaccounts of the commerce in the two largestsections of the West, and data for estimatingthe condition of the remainder. In each in-

stance the statement goes back seven years,that is to say, to the second year of Gen. Jack-son's administration, and cdmes down to thefirst year of Mr. Van Buren's. For the Louisville canal, the'officia return stands thus:

?

o -

Kj.

COOOOOGOQDQOOO 5ofTUUUUUUU SSj 05 u - wj to ;;s

- - j, p -m rO 00 aO 0O yi M - w O H.3"-- iocjiaoinwOT TiT

" .

n 5 "

S3

tUooomoi- -i ,i,U tC O u U o 7) -3 EL--

"cj "to "a '000'- - w 2 MOQOOtO 5

Opt-so

-- , .r""lo ooVitjti g 3 aUWtCDOiCTOr C ST

nKiOMO-ia.- S. .3tOUrfc-llOlS- M.

MrrBr'reatl over this tahle. and then rmmemeu upon some parts 01 it. Xlie increasein the. number of steamboats which passed thecanal had increased louriold in seven vears:and the year of ruin 1837 has presented aslarge an increase as any preceding one haddone. But the number of steamboats was notthe most correct criterion ; the tonnage is moreaccurate, especially as it includes slats and keelboats; and, tested by the tonnage, it will beseen that the increase was three-lol- d in sevenyears, and that the year of ruin presented anincreas.e tons over that of the preceding year. So much for the prostration ofcommerce on the Ohio river, and in Kentuckyiisru, in mis uiuuifc jeur ui puruuuu aud des-truction !

The commerce of the port of St. Louis was!the second test to which Mr. B. subjected thedomestic commerce of the country. St. Louiswas a port of entry by law, and a port ol des(illation by position for nearly all the boatswhich entered it. It was not merely a toucn-in- g

or stopping point for boats bound else-

where, but it was a port of destination lor thedelivery of cargoes, and the reception of land-

ing. I have the statement of its steamboatcommerce for seven years; and this is the

Pears. Boats1831 601832 801833 991834 1101835 121I83G 1441837 195

Tonnage. Entries.r,79G 4329,250 508

12,222 57313.173 6G7

15,470 80319,447 1,35522,794 1,607

Mr. B. remarked upon this exhibit a9 corresponding wonderfully with that of the Louis- -

vine canal, anu snowing an in.iec iicmjsour sold in the commerce of St. Louis, underthe impracticable and outlandish nu.mtnistra-tion- .

as it was called of General Jackson, anda larce increase in the year of ruin over thatof any preceding year even the bloated yearofloob, 1 he arnvinz and departing tonnage

1C17 was ,lr.n All Inns th sirfcr the year ioji, qu,oji .w, ... ....greater ,"' of beinS ine Sr0,vyears, and that ?. only without

loss of

UI tevcilbanks, but

upon the loss of one u.S ""Co... n,ol, nr,l, .t,;.-- h ,c,--nu up auerthe veto of 1832; and from which time ,tle.commerce of the city advanced with giganticstrides, and established itself upon foundationstoo solid to be overthrown by any convulsion.

The foreign commerce of some of the princi-pal sea ports,next claimed (he attention of Mr.B. He took the ports of Boston, N. York,Philadelphia, Baltimore, Charleston, and NewOrleans, as presenting Jeading points in thedifferent sections of the Union, and comparedthe imports in those cities during the adminis-tration of Mr. Adams, when the federal partyand the federal bank were in full power, withthose, not ol IHJb, which was a year ol bloatand over-actio- but with the year of ruin1837 when the mad and wicked measures ofthe absurd, impracticable, and outlandish measures of the administiaiicn of the Republican;had produced the full measure of their fataldestruction. He presented a table, compiledfor him at the Treasury department, and readit.

o to 2 are o- - 2 ;.o-- 2

J- - - p- - r; .F1 S" 2 nO m - 5 o Q.'cn k; a 00 aUrUnOiibn 'ao . io c-- 1 &25 Z nO 23 .

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O CO "32

Remaiking upon this table, Mr. B. said (hatthe year of ruin presented an increase of business in every poit ixcept that of Philadelphia,far exceeding the proportionate increase of po-

pulation. Taking thelast yearof Mr. Adams'administration, as the one most favorable tothe opposition; and it would be seen that, atlinston , the increase ol importation" was nvemillions of dollars in value; in New York, theincrease was thirtyseven millions; in Balti-more, above two millions; in Charleston, morethan double; in New Orleans, doubled, and amillion and a half over. Philadelphia, theseat of the great bank, was the only place thatexhibited a decline: all the rest exhibited avast improvement, and" the further off from thePhiladelphia protector the better. The case ofCharleston was particularly striking. Thecommerce of that city regularly declined fromyear to year, under the wi'hering influence ofthe high tariff policy, during the administrationof Mr. Adams and the piesence of n branchbank of the great regulator. It declined forsour years; then rapidly recovered under theadministration of General Jackson; and, inthe year of luiu was double the amount of-th- e

last vear of Mr. Adams' time. "Mr. B, referred to the exports, and imports of

specie, to show the further superiority of tb'eyear ol rum over the finest year 01 Mr. Ada msadministration, or even the whole of it put tO'gether. His averment was, that the gain onthe import of specie over the exports, was. forthejear 1837, sour millions and a quarter ofdollars, while, tor the wnoie louv years 01 .Mr.Ad.irns' administration, the tain was but .onemillion. On these points he exhibited thesetables:

Imports. Exports.1825 56,150,130 $8,797,9551826 6,880,960 4,704,5531827 8,152,130 8,014,8801828 7.489.741 8.243.476

Making n total of about 30 millions and ahalf of imports, and about 29 milliobs and ahalf of exports. The same test for the year ofruin, exniDiieu 5iu,a4,4aa lor imports, and$u,i4,uuu lor tne exports.

Pursuing the tests of-th-e comparative pros'perity of the two periods, Mr. B. came to thesales ot the public lands, which stood thus:

1825 .. 41,205,0681826 ' . ' 1,128,6171827 - 1,318,1051828 1,221,3571837 7,004,538

Here again theyearof ruin appears, said Mr.B. in victorious contrast withthe whole periodof Mr. Adams's administration. The sale ofthe single year are equal to six years of such6ales as occurred from 1824 to 1828. The salesin Indiana alone, during this year of ruin, ex-

ceeded the sales of the best year in Mr. Adams'time, for Ihey amount to 4:1,565,390. Thesame urny be nearly said of Illinois, where thesales for 1037 amount to $l,Vt),77o. thewhole of these were for hard money ; for theTreasury order Was in fulfopf ration during thewhole year. I he entire sum of seven millionswas received in specie, and the one half of itaster the banks hud suspended payment.

I his Tact was the fullest vindication ot thatorder. It showed the error of all the circula-tions which were made npon the effect of thatorder. It showed' that the farmers hud no diffi

culty in getting hard money to buy lands.-Thequan-

sold in 1837 was bought by far-mers, and not by speculators. The Treasuryorder expelled the speculators, with thair balesof borrowed bank notes, Irom the field. Itoperated as a preemption law in savor of cultivators. It is now operating as a n

law in their ftvur, and, as such, ought lo besustained and supported by friends of counter, and it is too true. No gold, sil6ettlers. The respectable Legislature of Indiana had passed resolutions against this order ;

but the resolutions were sounded in mistake, asthe land sales of the year and of their ownState will sully prove. All that are in savor ofsettlers against speculators should be in savorof that order; for hard money payment is theonly thing which can put the farmer above thecompetition of the hank facility purchasers.

Mr. B.then exhibited the detailed statementof the ales of the public lands for 1837. toshow that, under the operation of the Treasuryorder, and in year of ruin, the prosperity ofthe farming interest, as indicated by their abi-lity to purchase, and to pay for, public lands,was in the ratio of six to one over that of Mr.Adams' (ime.Statement showing the amount of the sales of

the public lands, during the year 1837.States and Territories.

OhioIndiana '

IllinoisMissouriAlabamaMississippiLouisiana

ArkansasWisconsin TerritoryFlorida Territory

Total

Purchase money.591,283

1,565,3901,266,778

628,452475,918320,660

- 283,696369,106353,920223,479125,862

$7,00.',?The ruin of the currency vvas the next topic?

vhich Mr. B. took up. No money, was thecry. Commerce, labor, industry of every kind,stagnant, languishing, paralyzed for want of mo-

ney to put wheels of business in motion !

Such is the lamentation which sills this cham-ber, and is every where. But is ittrue? Is it is true that the country is destituteof money, or only that banks and capitalistshave locked it up, and laid it away, to createfictitious scarcity, and thereby aid politiciansin promoting discontent and in accomplishingA political revolution! This is the question,and let authentic facts answer it. What is theactual amount ofcurrency, paper as well asspecie, now in existence in our country 1 Themost recent, and authentic, estimateswill placethe amount at about one hundred and seventymillions of do'lars, namely, eighty millions ofspecie, and ninety-fiv- e millions of bank notes.The specie was computed at that amount ayear ago, and has been increased near five mil-lions during rhe year 1837 the yearof ruin,and is now daily increasing; the bank notesnow in actual circulation are computed atninety-liv- e millions by the gentleman in theTreasury Department , charged with collectingthe returns and expositions of the banks, andwho has made out this statement at my specialrequest, to be used upon this occasion. Pre-

cise accuracy he knows to be unattainable, buta close approximation to the tiue amount iseasily accomplished where publicity of bankreports are so general as they now ae. Thequantum of one hundred and seventy millionsmay then be assumed as the amount of the cur-rency now in existence in the United S'.tes.Hoiv wilt th;; moant 06mpare with 'periodsproclaimed1 to have been prosperous, and heldup for our unceasing admiration and gratitude?There are two of those periods, each markingthe termination of a National Bank charter,and each presenting us with actual resultsof the operations of those institutions upon thegenera! cunency, and each replete with lessonsof instruction applicable to present day,and to the present stale of things. The first ofthese periods is the year 1811, when the firstNational Bank had ran its catcer of twentyyears,and vvas permitted byCongress to expireupon its own limitation. I take for my guidethe estimate of Mr. Lloyd, then a Senator inCongress from the state of Massachusetts, whosedignity of character and amenity of manner isso pleasingly remembered by those who trvedwith him here, and whose inteIli7Ce am ac.curacy entitle his statement' 0 the highest de-gree of credit. The env.nent Senator estima-ted the total cutrencj 0f the clintty, at theexpiration of the Charter of the first NationalBank, at sixty millions of dollars, to wit.-- tenmillions and fifty millions in bank notes.Now compare the two quantities, and markthe results. Our population has precisely dou- -'

oiea itself since 1B1I. The increase of ourcurrency should, therefoie, upon the same prin-ciple of increase, be the double of what it thenwas? The next period which challenges ourattention is the veto session of 1832, when thesecond Bank of the United States, accordingto the opinion of its eulogists, had carried thecurrency to the ultimate point ol perlectionWhat vvas the amount then? According to theestimate of a Senator from Massachusetts, thenand now a member of this bod) , (Mr. Webster,)then a member of the Finance Committee andwith every access to the best information, thewhole amount ol currency vvas then estimatedat about 100 millions; to wit: 20 millions inspecie, 75 to 80 millions in bank notes. Theincrease of our population since that time is estimated at 20 per cent. ; so that the increase ofour currency, upon the nasi? ol increased pop-ulation .should also be 20 percent. This wouldgive an increase of 20 millions of dollars, mak-ing, in the whole, 120 millions. Thus, our cur-rency in actual existence, is nearly one thirdmore than either the ratio of 1811 or of 1832would give. Thus, we have actually about50 millions more, in this season of ruin and des-

titution, than we should have, is supplied onlyin ratio of what we possessed at the two periodsof whatis celebrated as the best condition of thecurrency, and most prosperous condition of thecountry. So much for quantity; now for thesolidify of the currency at these respective periods, how stands tne question of solidity.'Sir, it stands thus: In 1811, five paper dollarsto one of silver; in 1832, sour to one; in 1838,one to one, as near as can be! Thus the com-parative solidity of the currency is infinitelypreferable to what is ever was before; for theincrease, under the sagicious polte.v of GeneralJackson, has taken place precisely where itwas needed at the bottom, and not at the top;at the foundation, and not in the roof; at thebate, and not at the apex. Our naner currency has increased botlitile; we may say nothing,uponinenasis ni idliand I83U; our specie htsincreased immeaMirably,no le'Sjhan eight-sol-

since 1811, and sour-fol- d ?inceK832. Thewholeincrease isspecie: and ns that'we have 70 mil-lion? more than in 1811, and GO millions morethan in 1832 Such are the fruits of Gen.Jackson's policy 1 a policy which we only have(o persevere in for a sew years, to have ourcountry as nmplysupplred with gold and ?ilver

as France and Holland in which gold is bor- -

rowed at 3 per cent, per annum, while we oftenborrow paper money at 3 per cent, a month.

But there is no specie Not a nine pence f.cf

be got for a servant; not Ji picayune fora beg.gar; not a ten cent piece for (he postoffice.Such is the assertion; but how far is it true?Go to the banks, find present their notes at Iho

all the the, all no

the

the

the

the

ver, no copper to he had there in redempf ion ofiuk-1- suieuin promises 10 puy . metaphorically,is not literally speaking, a demand for specieat the counter of a bank might bring to the un-fortunate applicant more kicks than coppers.But change the direction of the demand; go tothe brokers; present the bank note there; Mosooner said than done; gold and silver sprj'hgsforth infany quantity; the notes are cashed:you are thanked for your custom, invited lo return again; and thus, the counter of the bro-ker, and not the counter of the hank. p

she place for the redemption of the notes of thebank. The only part of the transaction thatremains to be told, is the per centum which isshaved off! And. whoever will snhmir fr, ih.itshaving, can have all the bank notes cashedwhich he can carry to them. Yes, Mr. Presi-dent, the brokers, and not the bankers now re-deem the bank noses. There is no dearth ofspecie for that purpose. They have enough tocash all the notes of the banks, and all theTreasury notes of the Government in the bargain Look at their placards! not a city, nota village, nota town 111 the Union, in which the

s do r.ot salute the eve of the passenger, inviting him to come in and exchange-hi-s

bank notes, and Treasury notes, for goldand silver. And why cannot the bankj redeemas well as the brokers? hy cannot they re-deem their own notes? BecauserMo has is-sued from thecily of Philadelphia, and becausea political levolution is to be effected bv idjuring, the country, and theo charging the in-

jury upon the folly and wickedness of the Rcpu'ican Administrations. This is the reason,and the sole reasonThe Bunk of ihc UnitedStatas, its afliliii'ed institutions, and its politi-cal confederates, are )he sole obstacles lo theresumption of specie pujments. They aloneprevent the resumption. It is they vfhd aronow in terror lest the lesumptiori shall begin,and to prevent it, we hear the real shout, andfeel the real application of the rallying cry, sopathetically uttered on this floor by the Senastor from Massachusetts, (Mr. WcbsscO oncemore lo the breach, dearfriend once more

xes, Mr. fresident, the causelbl thenpnre-sumptio- n

of specie payment is now plain andundeniable. It is as plain as the at highnoon, in a clear sky. No two opinions candiffer about it, how much tongues may differ.ine cause 01 not resuming is Known, and thecause of suspension will soon be known like-wise. Gentlemen of the opposition charge thesuspension upon the folly, the wickedness, theinsanity, the misrule, and mtsgoverntiientoftheoutlandish Administration, as they classicallycall it; expressions which appl'to the peoplewho created the administration which havebeen so much viliified,'and who have sanction-ed their policy by repeated elections. The opposition charge the suspension to them totheirpolicy to their acts to the veto of 1832 Ihoremoval of the deposits of 1833 the Treasuryorder of 1836 and the demand for specie forthe Federal Treasury. Thi. is the ch rge ofthe politicians, and of all who roll-- -

ie ea(iand obey tuejmpdcrftHno denationalizedBan of the United States. But what sayothers whose voice should bq potential, andeven omnipotent, on this que'stioifa What saythe New York city banks, where the suspen-sion began, and whose examplelyasalledged asthe sole cause of suspension by all the rest?Whatsay thesebanks, whose position is at thefountain head of knowledee. and whose answerfor themselves is an answer for all. Whatsaythey? Listen, and you shall hear! for I holdin my hand a report of a committee of thesobanks, made under an official injunction, bytheir highest officers, and deliberately approvedby all the city institutions. It is signed bymc-ssi-s. Albert Gallatin, Geo. Newbold.C. C.Lawrence, C. Heyer, J. J. Palmer, PreservedFish, and G. A. Worth: seven gentlemen ofknown and established character, and not morethan one out ol the seven politically friendlj tothe late and present Administrations of theFederal Government. This is their repoit j

"'The immediate causes which ihtis compel-led the banks of the city of New York to suspend specie payments, on the 10th of May last,are well known. The simultaneous withdraw-ing of the large public deposites, and of exces-sive foreign credits, combined with the greatand unexpi.cted fall in the price of the princi-pal article of our exports, with an import ofcorn and bread stuffs, such as had never beforeoccurred, and with the consequent inability ofthe country, particularly of the SouthwesternStates, to make the usual and unexpected re-

mittances, did, at one and the same time, fallprincipally and necessarily, on the greatestcommercial emporium of the Union. Aster along and most arduous struggle, during whichthe banks, though not altogether unsuccessful.ly, resisting the imperative foreign demand forthe precious metals. Were gradually deprived ofa great portion of their specie; some unfortu-nate incidents of a local nature, operating inconcert with other previous exciting causes,produced distrust and panic, and finally one ofthose general runs, which, is continued, nobanks that issue paper money payable on de-mand, can ever resist; and which soon put itout al the power of those of this city to sustainspecie payments. The example ivas followedby the banks throughout the whole country,with as much rapidity as the news of the suspen-sion in New York reached them. Uhn.ing for an actual run, and principally, is not ex-clusively, on the alleged of the effects!to be apprehended from W suspension. Thus,whilst the New York ,.; t,r,ni, ,o.,.i .

UHIII" ,,(..,. UII1IU3,.Jdrained of their srecie) ihose in olher placespreserved the arrMunt which they held before- -

1.., u..(.i cikici ropne."Resuming his remark. MV 7? nnAnf 'fK;is what l,iey say! These are the reasons ns- -siRie'. by those bankers for the steppage! andWhat are they ? The are, J. The simultaneouswithdrawing of the deposites; 2. Excessive importations 01 foreign eoodeon credit; 3. Tallinthe price of cotton; Importation of wheatand flour; 5. Some Unfortunate incidents of nlocal nature: ofw'hich the death, br snnnn.Msuicide, of orxf of the bank presidents, mnvlu.considererf'as the principal. These are the,reasons'! and what becomes now ns fhp Pln"!odpWhia cry, reechoed by politicians. nnr'1 i,Kal.tern hank, against the ruinous measures

Not n measure of the Ad-ministration mentioned! not one alluded to!Not a word about the Treasury order; 'not aword about thevetoof the National Bankchar-ter- ;

not a word about the removal of the de-posites from the Bank of the United States'1 nota word about the specie policy or the A'dni'imVtration! Not one woid about any act of

except that distribution act; dt