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Indianapolis Indiana Journal (Newspaper) - October 28, 1837, Indianapolis, Indiana Veulis for the Benet it of Quot his favourites a nth Oriz a in Addi Ipoh to the land and custom to if the government gives one per cent., sure note office Noi in existence it will be Neces by will not it ont m her Ordinary business fury to establish a great Many More us sub trea Fui ies add to these tli3 Wiele thousand Post offices nil of which Are to be Litile to Camunes. And sir then comes the visitors and the examiners of thess Olla est As the Bill requires an exam mation once at least each year and Yon have an army of of of tiers traversing every part of the country at the bid of the executive paid from the Public moneys by the president and bout us upon pain of uis a a Missal from Ohice to obey tic or Par sir i am unwilling by any Volu of mine result. Bui sir will the by Fiat i contribute to this transactions at Par a a r. A i a i cannot close my remarks or. President without saying that 1 entertained Strong Hopes when 1 came Here that we should be Able to unite on some measure that would restore Confidence regulate the currency and give Relief to the peo no. But i am now compelled to say Fiat in m5 opinion we Liall do nothing to meet their just expectations and my fondest Hoper. Will end in disappointment. I shall vote As Choice of Evis for the Bill of the gentleman from Irginia but 1 i Deor no Confidence in it. Mill Public Money be great importance will not and my been tried to the sir ski Luik i have 1------ Safe Liis is a Questi n of j it think it so objectionable As the sub trea exper Zionce tells us that it pc heme. My opinion has been and still word for when it shall have satisfaction of those who Are continues to be that experience has proven that a National Bank properly guarded in its Powers ,,talcationswiubefonndi3 3. Indispensable fiscal agent to the govern pies bin it up _ unavailable As Well As absolutely necessary As a Geue a much More formed funds than what ask ars Ajia Insl Bank. But in addition to Liis you give up the Bonus paid by the United states Bank. \ on Irive up the Adlanta ?c3 Resu Liciag to the country from a we a regulated currency and a wholesome Vitato of the Exel Angus and you pay not less than $100,000 annually to carry on the Quot exp Eui ent Quot without one coup la railing Bench. Sir to Micro is an outlier objection to this Macaure Moie Formida in in my in ind Han any of those i have attempted to urge. You propose to Sepa i Maxc a of Pius overment Watt in i have always understood to by a government of the people an alien to their iii Eros you propose to give the Gove nement and its o Licurs Gold and Silver and leave the people to struggle on with such a currency As Trio states May furnish. Sir i know this people love the gov in and of the exch an a a National j regulator of the currency and of the pcs and of the issues of the local Banks Joritz Here however think otherwise and it will be for the people ultimately to decide the matter a mid in that decision let All acquiesce. I am sure solvent and Safe none More so than the Banks of the state from which he Banks of Indiana were waiting to see what Congress the executive and other Banks could or would do intending at an Early Day to resume specie payment and honestly to redeem All their paper and he could give no vote to discourage or procrastinate so desirable an object. It was True that the Banks had not attend Well in suspending specie payment and emby rising the government but we should Deal mercifully with them a single breath from the executive saying to the state Banks we will no longer receive your paper m payment of duties and sales of the Public lands will strike 50 per cent a t the value of All the property of our constituents vested in hese Banks indeed of All the property of every description acid is was not prepared to Sanction such a course. In the language of the West give us land office Money whatever will buy land is As Good As Gold is at Par in All moneyed transactions in the Estorn states no matter Lio Wever old or ragged paper May be if it contains words letters and figures a Noult a i to be for Public lands it is As Good As old and it matters not Liat kid of i b. A a ivc no personal interest i Susta n no any i never owned a Dollar of Stock in a Bank in my life nor do i expect to do so but i have an interest in sustaining those measures that May Benefit the people. Their interest is my interest and i Tiow 1 live occupied too Mih of the time of the Senate yet i offer no other apr clogs than the importance of the subject and,."in resuming my seat i return to the Senate my unfeigned Hanks for the marked respect and attention which it has honoured me with in this my first attempt to address it. Ment i am not Knapp sized of their deep rooted Devotion to the instil Liun under which they live. Have they not on All occasions in times of peril when the exist Noe of the nation was Alireal sued by a hostile foe rallied to the Standard of their country and Laid Dov n their lives a voluntary sacrifice on the altar of Liberty and shall they then be told in limes of diff cushy and embarrassment that this government vill take care of itself that it has no to assist the Pei Iier that it will provide for its of officers tie meta.?, Ahli Oligh the Comsey Jence May be ruin to the Peon of sir Jet those Hoare Viress ing this matter upon them not presume too far. It is not your Parchment Roll called a Rons dilution that hods this Peon in to Gettier it is a snip used Community of int. Rest and Walic Novar you shall satisfy them that the government of to Weir Choice has no common Incret with the people t e governed that moment they will Loe All attack Lucent to the cons dilution Anil either dissolve them Sells from a government of requisitions and burdens and not of benefits or they will seek pc Cir a in a change of rulers. And sir i am no pro lie yet judging from the voice Yon Hevr heard from the West and the responsive a climes Isom the eat if you carry these measures in the course of my senatorial term of six years you will see these tables turned and a confident majority reduced to a harmless minority Here Ancl in that event Mark my words to Day you will hear a voice Long and loud co Muir from that minority crying for another divorce from tie evils of this Meas i Hope in this i May be mistaken but such Are my of the Evi ii ice a Liili must result from this measure Tjit i Hazard the opinion. But sir As die represent ivc in part of one of the Western states i protest against this measure As being of the most noxious character to our interest. Does not every Western Man see that its we la Drain All our so Ecie from us through tic land offices and Post offices and expend it Here and on the Eastern Waters in creation of a Navy Brtva Kwater Light houses fortifications a the. Sic.? since you have abandoned the doctrines of internal improvement we have no objects for National expenditures except to be sure the Cumberland Road and tie expenditure on that is As a drop in the bucket when the amount received by the government from the people Gettic state. Again i object to this Bill As being wholly illusory and presenting a false Issue to the people i. It is not a question now whether the people will have specie or paper in their comm iii business transactions. This government has no Power Over the state Banks they Are the creatures of the Lestri Slature of the diff irent states and whether this Bill passes or not the people of the states will have a paper currency and the t be question for them try de Cid is whether they prefer a local paper excl a ively or whet Iier they would prefer a National paper of Universal circulation controlling the state issues within wholesome Bounds and convertible into specie at the will of the Holder. Sir let us examine for a moment the consequences that must necessarily result from any measure at this time reducing the property of this nation to a metallic value. It not at mice amount in effect to a confiscation of at least two thirds of the property in the country would it not increase As two to one the debts of the people and How let me ask do gentlemen suppose the debtors Eitnier merchants Banks or people can pay their debts if specie a hould be required properly must Conie to the Hammer of the auctioneer and the sacrifice would create ruin wide spread ruin. Sir i would rather see a foreign army in your country than to 8ee the properly of every debtor brought to the Hammer on a specie demand. The isolation would be far less. Innocent a and Knoll ending families who Are in supported Ai Luence to Day a Ould be beggars to Morrow Ali Row upon like cold Charity of an unfriendly Vav orld. Sir i cannot see i i would Avert it if i Rould. But if gentlemen will go on let them take the responsibility. The Ennior from in ugh Carolina or. Calhoun told you that tie disease was debt and he knew of no cure but to p in it. I his May be True but does riot that senator know that it is in vain to Tell men to pay their , if you take from them the ability and Means of payment if you Render the property with a High they might pay valueless How do you expect them to party do Pfent Leraven Siva Rose that their specie enough in this nation the pay one Forth of the debts independently of answering the Ordinary Medum of circulation if they do i can Only say that they have surely not examined the subject. Sir i have detained the see ale Mudi longer than i anticipated in for i Rose. I will say a few words relative to the amond meals of theg senators from South Carolina and Missouri messes Cal Koch a and a Kotov and resume my sent. 1 cannot go for the amendment of the senator from Soith Carolina. It assumes the same Pri c ple of the Bill that in that the government in the collection fits dues will at Given periods fuse to take the paper of specie paying Banks a trill collect All its Revenue in specie. I. Object t the principle and cannot give any vote that or be construed into a Sanction of such doctrines. The amendment of the senator from to. Is still worse in principle. That amendment gives a Premium on the part of government of one per cent for All that May be paid by her debtors. A Whart Loeb mean what can be the object is i to draw Ait the Gold of the country into the in Senate saturday sept. 23. Speech of the Hon. John Tipton on the subject of the sub-trea.s7. It by Stem for colliding and distributing the Public Revenue. Or. Tip ton Rose. He said the question now under consideration was of so much importance to the people of the state Ali iii he had the Honor to represent Here that h. Felt it to be his duty to claim the ii fulgence of the Senate a Short time while he gave his views on some of the topics that at this time engaged the Public attention from one end to the other of the country. In a time of profound peace surrounded As we thought by ail the elements of Prosperity we Are suddenly arrested in our Onward March by a wide spread desc lation come Cree crippled Public credit injured private fortunes ruined and the Public Treasury Bank run lie late session of Congress had but just cd Seil the members Lead scarcely had time to return to their Homes when we Are summoned to return to Washington to legislate the government out of is Dilli Cullis and we find our jeeves Here in september instead of Quot december in Deli Healion on the Moile and manner of relieving the distresses of our it country. I he inquiry naturally itself to every mind Why is this so what has produced it and what is the remedy to be adopted the honorable senator from South Carolina. Or. Calhoun when a proposed his amendment to the Bill under Consile ratio a few Days ago told us that this question should be met Boully and manfully to use Ilia own words let every one said ii show his hand. I said a or. To respond to that Noble sentiment of the honorable senator the should to met boldly and fairly this is a time of de anxiety with our constituents Sli Ould be no skulking among their j Public every one should speak Necly of the causes which have produced the present Embarrass iii ent and act promptly on such measures As will relieve the people it was his opinion that the putting Down of the Bank of the United states was the first step to the present embarrassment the Transfer of the Public deposits from Liat Bank to the local state Banks stimulated the institutions to extravagant issues a beyond their ability of redemption they discounted notes on the Public deposits extending their lines of discount beyond the Bounds of prudence the people in the neighbourhoods of these Banks finding that Bank accommodations could be had with facility entered largely in speculations in Public , town lots amp other property extravagance in living As Well As in dressing increased their indebtedness in a word sir the Wii old country Over traded ceased to labor and contracted debts beyond their ability to pay speculations were uppermost in the minds of every one. The executive of United states seeing the Public Domain rapidly exchanging for credit on the of the Banks detain Jned to Check it and issued his Treasury order of july 11, 1836, directing that nothing but Gold and Silver should be received in payment for the Public lands. Under the operations of this order those engaged in purchasing Public lands had to procure Bank paper draw the specie from Bank and transport it to the land offices then the receivers of Public moneys deposited it again in the Banks to the credit of the government thus the indebtedness of the Banks was daily and rapidly increasing the , fearing that the Public deposited would be railed for in Metal became alarmed to their own condition closed their doors and suspended specie payment thereby putting it out of the Power of this government to pay the Public dues according to Law in specie or its equivalent. This said or. To is a Brief statement of the causes Vav Hijii have or Lucid the present Embar Rassu int and dislje6w? surround us it was an unfortunate fam jeering Willi the currency and the Public Dep ites by thai executive of the United Stales Orff troubles have come sooner but come lighter Tell would have done Iliad the Treasury order Nev existed. Now of he remedy. The from the com titter on finance imposing additional duties Oft Public offices As he understood it intends to Cut Loose the government from All Banks and to authorise the Treasury department to keep and disburse As Well As collect the whole reve tie of the government dispensing with Banks 33 fiscal agents altogether. This policy he thought might Well be questioned it would first session. In Senate saturday october 14, 1837. The late Deposit Banks. The Bill providing for the adjustment of the remaining claims on the late Deposit Banks was deceived from the House with tyo amendment extending the times of paying the three instalments from the Banks from the end of her six and nine months respectively to july next january 1839, and july 1839. Or. Wright moved that the Senate concur in this amendment of the a or Smith of Indiana said he did not Rise to make a speech at this late hour of the session but to detain the Senate a single moment while he read a letter he had received since he addressed the Senate from the cashier of the state Bank of Indiana on this subject. It will be perceived said or Smith that the letter refers to the time allowed the Banks by the Bill As it came from the committee on finance of the Senate he Bdl was amended while in this body but still he in poised Are be Belziti i a d to strike a portion of the american people Liki a Hock of electricity on account of the increased patronage and Power it must Confer on the executive Arm of the govern Tient. He would not declare in Advance that to would not go for it but he would be slow in yielding it his support and he hoped that a better remedy could be found lie had never been an advocate Foi using a litter of slate or local Banks As fiscal Agema of the gov Erti quient they contain within themselves antagonist principles each possessing sep Aralie views and looking to the interest of their oven stockholders they cannot or will not act together in trans Mitt Iliff or disbursing the a Nylic Money of the United states Mancuso Ign As they Are used As repositories of the Public Money Titi Barros ments and occasional losses Niay be expected. Or. T. Said that he was opposed to taking any course Here that would have a tendency to Crip Ile or to break Down the state Banks the people Rancour amp ged to establish state Banks to keep sink of the United states they had ves i capital to a very Large amount in these ins Fitio a Many of these Banks were perfectly Way to they Are liable to i by the Rich in whose Vas always. Our j paper of their Banks iii i or lands and to left it for Seoi Siors the interest of Banks East of the to a what would be its effect to the interests of their constituents should the general government refuse to receive their Bank paper in payment for Revenue above All things. Congress should establish and maintain a uniform currency. Have gentlemen forgotten How for Cilny the honorable senator from South Carolina or. Calhoun described the in Luence of this government on currency the other Day when he said if the United states would but endorse the note of the beggar it will pass at Par and will the senator now say to a very Large portion of the people of this country we cannot receive the paper of your Banks fir Public dues when by that single act he will bankrupt thousands who Piave Stronsk claims both on the Justice and the clemency of this government or. T. Said he would not detain the Senate by an attempt to show what an effect the measures before it would have on our Commerce or exc aug is he left Liat to Abler hands. He pretended Only to take a Plain common sense View of the mischievous tendency on the interests of his immediate constituents and to enter his protest in their behalf against the ruinous consequences Itiat must follow the passage of the Bill with tie amendments of the Bill Asj proposed. Lie said the course that he had marked out for himself to pursue compelled him to vote against the amendment proposed to this Bill by tiie honorable senators from South Carolina and Missouri. To Weir amendments if adopted looked to a refusal on the part of this government at an Early Day to receiving or using in the Ordinary transactions of the government the paper of All Banks and a return to a metallic currency. This said he looks Well on paper but it was impossible in his opinion to reduce it to practice. There surely was not Metal enough to answer one half the business transactions of this great and growing country. It was a mixed currency Pait paper issued on a metallic basis that our country reached the Summit of its Prosperity and i Iio could Ark or Ore Titan to be placed where we were in 183h he would vote for the proposition offered by the senator from Virginia when it came up. It looked More like preserving the property of the people vested in the state Banks a let us collect from the late depositories the Public Money now in their vaults but in doing so let us give time for them to pay us without crushing these institutions. This would enable the Banks to indulge their creditor and go far to relieve the Embarrass ment Umler which our country was suffering. He cared not what those in High places thought he considered it Tjie duty of this government to relieve the people when that could to done with an Eye to Public Justice. Congress now had the Power of Relief and in his opinion this was a proper occasion on which to exercise it. The frequent charges thrown out by the late president in his message to Congress against the Bank of the u. States had a tendency to discredit with the people and we All witnessed its downfall. The constant lauding of the state Banks by the president and his Secretary of the Treasury As depositories of the Public moneys encouraged the people to take Slock in these Banks. They grew up As it were under executive favor and will Congress now lend itself to break them Down a the regulation of the currency and tiie deposits of Public Money if Vve in end to avoid embarrassment and loss should he under Laws passed by the joint Wisdom of Congress and not left to the whim of a president and his Secretary of the Treasury. If the Bills which i had passed the Senate authorizing an Issue of Treasury notes and that authorizing the collection from the Deposit Banks became Laws he would be glad to see this extra session come to a close and let us return to our masters the people and consult them on what is to be done further. He did not stand Here Register the executive will he looked to the boys of the West those with hard hands warm hearts and Strong arms who fell the Forest i old the plough and repel foreign invasion for his instructions it was their voice he Felt bound to obey it was their wishes and interests ii came Here to if the executive desires the additional responsibility of keeping and disbursing As Well As of collecting the Revenue of the country he now enjoys it under the Regida ions of the Treasury department since the suspension of specie payments by the Deposit Banks and he warned honorable senators who like himself wished to sustain the present administration provided its conduct entitled it to the support of the people to be careful How Uliey entered on new and dangerous experiments a if we were Bent on breaking Down an administration he would give to it the unlimited control of the Public Money of the government he could not vote for the Bill reported from the committee on finance but he would vote for the motion of the senator from Georgia to postpone this whole subject to the next session of Congress when we shall have an Opportunity to ascertain the wishes of our constituents it is Good for us occasionally to consult the Sovereign people. Sustained ii 11 my i it a i 11 qua in Ted wit most lamentable catastrophe. By the arrival yesterday morning of the Steamboat from Norfolk we Learnt that the steam boat Home capt. White from n. York for Charleston whence she sailed on saturday the 7th, inst. Sprung a leak on monday the 9th, when off Cape i laterals and was run ashore six Miles North of Ocracoke in order to save the lives of those on Board ninety passengers of whom seventy perished and of her Crew of forty five Twenty five were lost making in All a Tottel loss of ninety five lives of the House giving longer ump to a we 3cn<ivc. To fish a i Quot like letter who was Wili a the concern of the Banks that what est Mif ii be the policy of the governor to so far As Thi Banks were concerned the a i a is on of Relief la the people. The corporations cannot suffer but the people can and must if the Banks Are pressed. Or. S said he wished to be clearly understood he did not stand Here As the advocate of any Bank not even those in his own slate beyond the interest of the people and the moment he became satisfied that their interest required the suspension of the corporate Powers of those institutions he would say refuse to renew them but he was satisfied that a course of policy requiring of the Banks at this Lime to press their debtors Quot in self defence would be productive of the most destructive consequences to the citizens of his slate. Or. S. Then read the following letter from James m. Ray esq., cashier of the state Bank of Indiana state Bank of Indiana Indianapolis sept. 33, 1837 Hon. O. H. Smith dear sir to give you a full apprehension of the propriety of the terms in or. Wright s settlement Bill of debts of the Deposit Banks i copy for you an extract of or. Woodbury s letter of instructions on being appointed a Deposit Bank Quot Treasury department Jan. 29, 1835. Samuel Merull esq., pres. Amp a in selecting your Insi Tulion As one of the Fis Cal agents of the government i not Only rely on its solidity As affording a sufficient guaranty for the safety of the Public Money entrusted to its keeping but 1 confide also in its disposition to adopt the most Liberal course which circumstances will admit towards other institutions. The a of posits of the Public Money will enable you to afford increased facilities to the commercial and other classes of the Community and the department anticipates from you the adoption of such a course respecting your accommodations As will prove acceptable to the people and Safe to the government. I remain very respectfully your obedient servant Levi Woodbury Quot Secretary of the we have done so we have accommodated the Public and Are now paying two per cent to the United states for the Means of doing the same and Are paying the pensioners at 10 Differentia Ces of payment in the state amp a. Without charge. And now As far lies in the Power of Congress it would seem we Are to be crushed unless we screw out of the Community during these times about $700,000 Deposit Money loaned out and pay the same up in 2, 5, and 8 months and that i suppose in specie. It is Plain if such a settlement is required that the interests and the rigidly extreme interests of the United states government Are Only regarded while the interests of the people of the state of Indiana in half of our Bank Stock indirectly Are left to the winds. Our Banks can stand any thing that any Bank can stand but the Prospect is that we will be All left so prostrated on such terms that we cannot lift a Finger to furnish Means of conveying out a surplus produce or add any thing to the facilities of the people. If we lose the fourth instalment and have such terms of settlement required of us the people of this slate must inevitably suffer severely. There is no possible remedy. The Means of paying As Well As the most of the Means of resuming specie payments must come from them and you May Well apprehend that they Are not Well prepared to meet such truly James m. Ray. Or. Smith said he did not intend to trouble the Senate but a moment in additional remarks whatever justification he might find in the remarks of the senator from Missouri against the Banks of his state he was satisfied that these Banks were entirely solvent and Good and should at least have been exempt from the indiscriminate denunciation of that senator. The people of the slate have full Confidence that the Banks will finally redeem every Dollar of their paper and he had no doubt that such would be the Case time however was required to enable the people who were indebted to the Banks to pay up. The Money due the government i Safe and the time is a Relief measure for the Benefit of the people and he hoped it would be granted by the Senate. Sit Ion which he and his friends hoped would save the Bill from defeat and or. Griir of s. C., who had voted for laying the Bill on the table moved to re consider in order to give or. Lewis an Opportunity of present log the proposition. But the House would not consent and they clinched the Nail which fastened the Bill to the table by voting against a re consideration. The majority was in this Case also 13. The importance of this vote As a party Victory May be inferred from the fact that the Globe has repeatedly declared that the passage of the sub Treasury Bill was the great object for which this extraordinary session of Congress was called. The Dinini Slation therefore have been Defeated on their leading measure and not by one or two votes but the decisive majority of 13, in an unusually full House. Such a defeat suffered in the English House of commons would be immediately followed by the resignation of ministers. No English statesman Widd dare to carry on the government after such a vote against a leading Cabinet measure. The president s official Organ of last night attempts to console him and his train bands with the idea thai the Bill has Only a amp a postponed for the purpose of making an Appeal to the people. This deceives nobody Here. Two members and no More voted for laying on the a Aole who would it have voted against the bulk a it Proi a it a a a re ii Kijja Ipi Quot. N iii i Cark of Nev York acid or. Kilgore i worst that ennui have happened had a take the of the measure would Nave been its defeat by a majority of from seven to nine. The Bill has in truth gone to the Tomb of the caplets and if there should be any resurrection at All it will be for the purpose of putting upon it a still More decisive Mark of reprobation. Having disposed of this Quot great object of the special session Quot thus satisfactorily the Bill to Settle with the old Deposit Banks was taken up in committee of the whole and the debate was continued after the recess until nine o clock when or. Cambreleng becoming alarmed for the Bills making appropriations to defray the expenditures of the government Florida War amp a. Amp a. Proposed to Lay aside the Deposit Bank Bill until the latter were acted upon. The suggestion was a Dop Ted. Or. Wise excited a Good Deal of mirth in referring to the item for the payment of the members of Congress by declaring that the Gold had All run out and that tie Promise of the Secretary to pay them in whatever was most convenient had not been fulfilled. The tru h is this government was obliged to borrow specie from one of those vey Banks which have been so much abused and Thich the executive s organs in the Senate and the House have endeavoured to destroy by bringing against them a Hill of pains and penalties if they should not resume specie payments specie has been borrowed from the Bank of the Metropolis to pay the members withal a but that Bank had nothing but Silver Silver was certainly not a convenient Mode of receiving five or six Hundred dollars and the consequence was that most of the members took notes As the most convenient to them since they could not obtain Gold. Or. Cost Johnson took up this Point and kept the House and galleries in a Roar of laughter. His speech was full of wit and humor. He lashed the Secretary most severely. I am sorry the reporters did not take Down his extraordinary miscellany but they might As Well have attempted to pocket a Thunderbolt. Or. Wise also Drew the attention of the House to the enormous appropriation of the smithsonian Agency and had it reduced from $10,000 to $5v000. The appropriation Bills were then passed the Senate which met at half past four had nothing to do until ten o clock alien these Bills were sent to that body. They were concurred in. The House then resumed the consideration of the Deposit Bank Bill and passed it. The Senate amended it in some Points. The House then took these amendments under consideration but it was soon ascertained there was no quorum and after an unsuccessful attempt to procure a Call of the House they resolved at half past one o clock to adjourn until eight o clock on monday. The Senate adjourned at the same time to half past eight o clock on monday. The Bank Deposit Bill will most probably be passed. For the Indiana journal. Messes editors a being in company with some of my neighbors at slim s shop a few Days since where the situation of the currency Quot and the Prospect of prices for the produce of the country were As usual at the present time the subject of conversation i was amused at the great variety of opinions that were expressed both As to the causes of the present state of affairs and the remedy. I could not but observe the manner of Simon slim who had thus far taken no part in the conversation but evidently shewed that he thought he understood the subject As Well As any of us. At length one of the company enquired his opinion. Simon immediately Rose to his feet and assuming the Quot oratorical attitude Quot commenced his speech. But As there May be some of your readers that have not heard of Simon slim i will introduce the speaker before i sketch his speech. Simon slim was raised in the state of Ohio a in came to i. A a. Years since a a a. Commence a Smai Rajie Sujint thirty or. Us quoth he cultivates writ his o Vii hand. Does Secash daily jobs for a fit heirs i a shop which he has built a Short distance from his House. Although some of his neighbors consider him As rather an oddity yet to is universally esteemed As a worthy Man and Good Neif Fabor. He is called a great Reader and i know that he takes two or three different newspapers which he reads very alte Lively and carefully preserves them to refer to As occasion May require. I have ascertained that in the neighbourhood who re he was raised there was a debating society that held its meetings regularly at the school House from the time he was old enough to accompany his father to the place until he removed to this country. In this society he became a leading speaker when quite Young and it is said that before he was eighteen years old he was not afraid to encounter the Sci tool master. In consequence of this he has contracted the habit of always rising to his feet and assuming the manner of making a speech whenever he has occasion to say a dozen words in a company of two or More besides himself and when he gets started he Seldom stops at a dozen words or a dozen sentences. This habit appears rather ludicrous to those who Are not acquainted with him but after a Little time he is generally listened to with patience often with advantage and some times with Delight and admiration. His statements As to historical and statistical facts Are generally relied upon As accurate but his opinions Are not always adopted at first although in time they Are generally found to be Correct. Correspondence of the Baltimore Patriot. Washington oct. 14, 1837. The sub Treasury Bill Laid on the table. When my letter of Friday evening was closed the sub Treasury Bill was still under consideration in committee of the whole. Or. Wise was on the floor. His speech was one of the mop stolid elaborate and valuable that have been made during the session and had it been delivered in the Day instead of at the close of an exciting and exhausting sitting of fourteen hours it would have produced a deep impression. As it was the eloquent virginian obtained Quot fit audience though few lie concluded his remarks about twelve o clock. The question was then taken on the propose amendment of col. Dawson the Able whig representative from Georgia to make the revenues of the government special deposits in the state Banks and negatived without a division. The committee then Rose and reported the Bill to the House which at half past twelve o clock adjourned. As soon As the Bill was taken up this morning or. Sherrod Williams moved to Lay it on the table. A Call of the House was ordered the ays and noes were called in order to give time for the faithful to be drummed up. After nearly two hours consumed in this Way the train bands were obliged to go to the vote Rand the result was the laying the Bill on the table by a majority of 13. Ayes 120, nays 107. Lewis was very anxious to offer a promo or. Wise and or. learn from a gentleman who was present at the House of representatives on saturday that the effect of the following dialogue was irresistible and that the Cut at the representative from new York was received with cheers and shouts of laughter. Or. Wise had moved an amendment to the Treasury note Bill leaving it to the election of the creditors of the government to receive Treasury notes or specie. Or. Cambreleng opposed the amendment As being altogether impracticable. Or Wise said he was willing to modify the amendment so As to make it comfortable with the gentleman s notions of practicability and he did so alter his proposition As to make it incumbent on the disbursing officer to pay specie or other available funds to the amount called for if they have it before issuing the Treasury notes. Or. Cambreleng said has objection was not obviated by this additional clause or. Wise replied Quot it probably would not alter it As he might and was proceeding with his remarks when or. Cambreleng who was sitting immediately behind him cried out question Quot or. Wise. Quot is the gentleman uneasy Quot is he suddenly sick Quot the speaker interposed and or. Wise proceeded. He wished to be courteous to every gentleman in that House and also claimed the same consideration. He then concluded his remarks in support of the pending amendment. Or. Wise s amendment was lost ayes 96 noes 118. Our anticipation of the Fate of the sub Treasury project in Quot Reader will perceive on looking a the account of saturday s proceedings in the House of representatives was on that Day fully realized the Senate s Bill for carrying out the plan having been ordered to lie on the table equivalent to a rejection by a majority of thirteen votes. This is a Large majority considering the composition of the House and the efforts which were m Ade by the leaders of Quot the party Quot to Force it through Congress thus have the representatives of the people triumphantly borne us out in the prediction confidently hazarded by us on the first Day of the session the body of the present House of representatives would be found like True patriots acting hoi e5tly, independently and without subservience to the executive willies. They have selected the Quot untried the state Banks May exist yet a Little longer. The course of Trade will continue according to its nature and Tho father of Rivers will still pursue As hitherto its course to the Ocean. National intelligencer. Quot neighbors Quot says Simon Quot you All agree i believe in this that times Are becoming rather hard and that the Prospect ahead of speedy improvement does not look very Here was a general nod of assent. Quot i think Quot continued he Quot that a you or. Flinn said it was All owing to the Banks stopping specie payments because when in town yesterday you could not get Silver for a five Dollar note. Let me interrogate you a Little How much did you get for that cow and calf i saw your sons driving to town after your Wagon on yesterday Quot Twenty five dollars Quot was the reply. Quot and How much for the thousand pounds of flour you had in your Wagon Quot Quot thirty dollars All in Hoosier paper Quot said or. Flinn. Quot now neighbor All you have to complain of is the Little inconvenience respecting change. You received fifty five dollars in Indiana paper for what seven years ago when we had no Banks in the state would not have brought you More than thirty. And five dollars of this same Money will now buy More Tea or Coffee or Calico for your wife and will pay for More cloth or hats or Salt or As much blacksmithing or Wagon making As five dollars in specie would have done seven or ten years Quot some of you said if there were no Banks we would have none of this trouble we should have nothing but specie. Very True but How much would we have if All the specie in the United states in the Banks As Well As every where else was equally divided among the people there would not be More than five dollars a piece. Some of course would soon have More and some none. I remember when we had something like specie times in the Western country when there were but very few Bank notes to be seen that were Good for any thing. The land i live on was purchased by Selling wheat at Twenty five cents per Bushel pork at $1 50 per Hundred and Day s works at 33 cents per Day. It was All specie but r Hope r May never see such times again fou remember it or. Flinn and you remember too when Bank notes that the people believed Good began to circulate again that produce of All kinds began to Bear a better Price and sell More readily. And now As sure As my name is slim whenever the people put Down All Banks and have nothing but specie three bushels of Corn will not sell for enough to buy a Pound of coff or and pork will not sell for $1 50. Per Hundred. Just before the specie circular was issued you bought four 80 acre lots of land and paid for it in Hoosier notes which you got by Selling hogs at $5 and flour at and every thing else in pro portion. Yes sir your four lots did not Cost yarn half As much labor As my one lot Cost but sir i return to the Banks they brought into the state at least As much specie As they have now in their vaults. Phey did not collect it from among our citizens but actually brought at Here from beyond the state. If specie has become scarce since the Banks suspended they Are not to blame they have not collected it because nobody would pay them specie while they could get paper. I have it on Good authority that one Man in Cincinnati has purchased and sent to the East $700,000 in specie since the suspension and i now have in my Eye a Man that has made two trips this summer to Cincinnati with his Wagon and both Timea took All the specie he could gather in the neighbourhood and sold it for a in or Seren a k

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