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S P K K CH
or
M R . C H I T T E N D E N , OF N E W YORK,
ON THE SUB-TREASURY BILL.
Delivered
in the House of Representatives
of the United States, in Committee
the Whole on the State of the Union, J U N E 27, 1S40.
of.'
M R * C H A I R M A N : — I t w a s m y intention not to trespass upon the time of this c o m m i t t e e i n t h e discussion of the bill upon your table, but c o n t e n t myself in g i v i n g a silent
v o t e a g a i n s t it, 1 a m sensible that too m u c h o( t h e time of this H o u s e h a s already
b e e n c o n s u m e d in unprofitable discussion : but h a v i n g reluctantly c h a n g e d m y ftrsi
d e t e r m i n a t i o n , I ask t h e indulgence of the c o m m i t t e e for a l e w m o m e n t s , to e n a b k
m e t o m a k e a few r e m a r k s in a n s w e r to some of the a r g u m e n t s and doctrines ridv a n c e d b y one of m v colleagues, a few days since, ( M r . F l o y d , ) and in some g e n e r a l
r e m a r k s . I rely with the more confidence upo'i the patient and kind indulgence of t h e
H o u s e , from the consideration that it is the first time, during this long a n d already
p r o t r a c t e d session, that I h a v e asked this indulgence. I regret that I should h a v e fete
t h e n e c e s s i t y imposed upon m e of c o n s u m i n g any of the time of this H o u s e in t.Ui*
d e b a t e , a n d should not h a v e changed m y first intention, but for t h e extraordinary
speech w h i c h w a s read by m y colleague from t h e s e v e n t e e n t h district. A n d . sir, 1
m o s t deeply regret that a n y m a n should be found in. a n A m e r i c a n C o n g r e s s , and n v w
e s p e c i a l l y from my o w n State* a n d from a district w h i c h w a s the h o m e of m y v o u t h a n d w h i c h should occupy a high and c o m m a n d i n g position—a district w h i c h is disting u i s h e d for the intelligence, tbL1 enterprise, the industry, a n d high moral and religious
c h a r a c t e r of its i n h a b i t a n t s , and which w a s once a n d m a n y y e a r s represented in. t l m
H a l l by o n e of the most sound and able men in this nation, ( M r . S t o r r s , ) n o w n o more,.
I s a y I l a m e n t that any m a n should be found w h o should h a v e so far lost sight of that
r e s p e c t w h i c h h e owed to himself, and to the dignity of the station w h i c h h e occupies
a n d t o the obligations due to his constituents, a s to h a v e indulged in t h e use of lang u a g e u n b e c o m i n g h i s station, and derogatory to the A m e r i c a n c h a r a c t e r — l a n g u a s v
a n d s e n t i m e n t s unsuited to a grave* and deliberative assembly, but calculated to L^vd the
m o s t depraved and morbid appetites—to e n g e n d e r a n d excite the worst passions of our
n a t u r e — t o array one class of our fellow-citizens against another, a n d produce a s t u u
o f t h i n g s deeply to be deplored by every friend of equal rights and equal l a w s , nnd of
a free, constitutional, and republican form of g o v e r n m e n t . A n d I m i s t a k e m u c h tiuintelligence and h i g h character of his constituents, if they shall not frown with honest
a n d j u s t indignation upon the m a n w h o lias condescended, for the sake of gratify m£•
p a r t y feelings, and for m e r e party purposes, to become the traducer of their character!
a n d a t t e m p t to depreciate and degrade the character of his o w n S t a t e in the estimation
of his c o u n t r y m e n Sir, I regret that some other g e n t l e m a n more competent t h a n myself, to d o justice
t o this subject, has not undertaken the unpleasant duty of vindicating the character id
o u r fellow-citizens and their civil institutions from the odium attempted to be cast upon
t h e m by m e a n s of the slanders, to say n o t h i n g of the gross misrepresentations, of m y
c o l l e a g u e . I m e a n no personal disrespect to mv honorable colleague, for I have u o u n k i n d feelings t o w a r d s h i m , but I m u s t be permitted to speak plainly upon this s u b j e c t .
a n d to inquire of h i m w h e t h e r h e expects to add to his fame a s a legislator and s t a t e s m a n by t h e l a n g u a g e and s e n t i m e n t s w h i c h h e h a s used in this debate ? D o e s h e e x p e c t t o a t t a c h himself more strongly to his i m m e d i a t e constituents by e n d e a v o r i n g to
s c a t t e r j e a l o u s y , distrust, ** firebrands,
arrows, and d e a t h " a m o n g t h e m ? B y exciting*
t h e p r e j u d i c e s ; a n d passions of (* the poor a g a i n s t t h e r i c h ? " I will v e n t u r e to say
t h a t t h e r e is * a spice of c o a r s e n e s s " — a vein of obscenity and of low, fulsome* a m i
2
disgusting ribaldry contained in his remarks not suited to the tastes or adapted to
the intelligence ot his constituents, and unbecoming a man occupying a seat in this
Hall, and I shall be greatly disappointed if the people to whose kindness he is indebted
for the station which he occupies here, shall not apply to him the doctrine of the S c o t c h
proverb quoted in his remarks—" H e that cheats me'once* shame fa' him—if he cheats
m e twice, shame fa* me."
I appeal to my honorable colleagues, who are the supporters of this Administration,
and w h o are stockholders in banks, to ;know whether they are content to have the opprobious epithets applied to them of ' federal bank aristocrats, silk-stocking gentry,
bank speculators, bank followers and bank vermin," who. like Satan, have power to do
evil, but neither power or inclination to do good—••who are the supporters" (to use the
refined and rlaxxical language of my colleague) "of the wrecks of the State banks
scattered throughout the country in such a profusion of corruption that the whole land
stank" with them ? And more especially do I appeal to my honorable colleague from
the twenty-second district, (Mr. Dana,) w h o I understand is'nut only a stockholder, but
a director* and attorney of one of these •'•unprincipled corporation??, organized to foster
the few at the expense of the uiany^* and •''against the cupidity of which there is no
law, written or unwritten—no Constitution* though purchased by the death of
the brave, and inscribed with the blood of patriots."which can stay the stealthy,
serpent-like
progress of crairlinsr
ararir*>"
1 appeal to him to say whether these
charges 7\wt\ insinuations are just, and whether he is willing to have" them applied to
him / N o , sir, 1 know that he will repudiate them, and pronounce them to be as false
as they are foul, and the emanations of a di-ord*-rod intellect or depraved heart,
8ir, ?1; * r.uin who would endeavor to excite the baser passions of our nature, and
enlist t'.ie p;;i'judie,es of one class of our fellow citizens against the other, for the vile
and unworthy purpose of making capital, to subserve mere party purposes would, (if
occasion should require itT) stimulate to deeds of midnight darkness, would furnish
the torrh for the incendiary, or the stiletto for the assassin.
T h e gentleman commenced his remarks, bv informing us of the state of the currency in 1 ^ 7 , " when the plau of an Independent Treasury was tirst laid before the
country by the President.*' l i e informed u- tht\: the currency, if currency it could be
called, consisted of bank paper, for which not a dollar of money could be obtained,
and which wa*, in truth, little more than a certificate 0 f the sTPiit srullibilily of the
people
and the fraudulent bankruptcy of those w h o issued it," and alleged that the
officers of bunk* were selected '"sometimes for their moralitv and sometimes for their
knavery^
T h e gentleman, in his homily, denounced the whole banking1 system as ''a s y s t e m
of speculation, fraud and knavery." and took occasion to change the opposition to this
administration with being the authors of it. and r->|».>usible foA* 11 of the consequences
attending it. And lest his * ; democracy *? might "«* su<peeteiU he made a pass at the
old }\iu\U of the United Stales, which "he vainly imagined was yet in existence. I
have neither time^ or inclination to ^peak of that departed victim of relentless party
persecution and Executive tyranny—an institution which once supplied us w i t h a
stable, sound and uniform currency—a currency which was the pride of our country,
and the envy of the whole civilized world. 'An institution, which war? brought into
existence, and which received the support of the united wisdom of the soundest heads
of many of the most prominent statesmen of the aire, without distinction of party.
Sir, it was not until since the fatal blow was aimed at that institution, that our currency became deranged, and that w e have h v m furnished with one that was "broken,
cleraucc'd ;tud worthless." State banks w<.re afterward* recommended by the " illus£2ion- chief,"* who was at the head of this nation, and they were promised the fostering care and protection of this Government. T h e consequence was, that State banks
were multiplied^ all over our country : and they wort* adopted as the depositaries and
fiscal agents of the Government, until they were visited with and made to feel the
withering and blighting influence of the specie circular—a document conceived in folly
and madne-s—which paralyzed the energies of almost ail of the hank*, and ruined
thousands of individuals, who had reposed in confidence upon the plighted faith of the
Government.
J3ut, sir, is it true, a* has been charged uptm the opponents of the administration,
that thev are; the exclusive friend* of the banking system 7 That they, alone, are the
authors'of the credit system, which my colleague has so strongly denounced, and
pronounced to be " i n all of its moods and t e n s e r n system of rilla>nf—and
which,
if the passage of the bill on your tabic could effectually eradicate and destroy, « i t *
3
p a s s a g e should be announced from city to city and from village to village, by the ringj n e ot bells a n d t h e roaring of cannon iJ$ A system w h i c h enables the employer of the
i n d u s t r i o u s a n d poor m a n to '4 cheat, wrong, and defraud his hard earnings, w r u n g
f r o m h i m , e a c h Saturday night ?"
W e h a v e been informed by the biographer of Mr. V a n Buren, the head of the " d e m o c r a c y " of this country, and w h o his friends say, is opposed to the use of banks for
a n y p u r p o s e whatever, that he •* has been a firm opponent, throughout his whole life,
o f t h e e x p a n s i o n of the banking system in the State of Nev/ York, and of a Bank of
t h e U n i t e d S t a t e s . " A more unblushing falsehood w a s never propagated by m a n . It
i s a p a r t of his history, that he w a s once an applicant for a branch of the u Monster,"
t o b e established at the city of Albany, and it was not until after the m a n d a t e had gone
forth, t h a t t h e bank must and should be put down, that he declared his « unceasing a n d
unqualified hostility to"' that institution.
I n h i s m e s s a g e to the Legislature of the State of N e w York, he recommended the
g r a n d 4< safety fund system," which proved, as it was no doubt intended by its author,
t h a t it should be one of the most powerful engines of cupidity and party machinery
t h a t w a s ever concrived by man. T h a t State had, at that time, forty-eight banks,
w i t h a capital amounting to a little over 835,000,000; the charters of a large majority
o f -which, would expire us early as 1S32. Under the system recommended by M r .
V a n B u r e n , banks were multiplied to such an extent by that and subsequent Legislat u r e s , e m b r a c i n g largo majorities of his party friends, that, notwithstanding the expir a t i o n of the charters of the old banks, in 1^30 their number amounted to one hundred
a n d o n e , a n d their capital to near £:>S,000,000? making an inerease of nearly $13,000,0 0 0 . S u c h w a s the course pursued under this " s a f e t y pttrttj system,"' by those exc l u s i v e friends of the people—ihesimon pure democrats—in granting charters to none
b u t t h o s e w h o would *• bow the knee to T3aalv—in appointing none but Jackson m e n
C o m m i s s i o n e r s to distribute their stocks, thereby securing •* Jackson directors," that a
a r t y influence was wielded, which became so formidable, that when it w a s well unde r s t o o d by the people, w a s so alarming, that it contributed much to the great political
r e v o l u t i o n which has taken place in that irreat and patriotic State. Should any one
d o u b t this statement, I would refer him TO the celebrated letter of Doctor P h . M a x w e l l , a leading supporter of Jackson, in the Legislature of Xexv Vork, to one of his
p o l i t i c a l friends at Sackett's Harbor, when an application was pending before the L e g i s l a t u r e for a bank at that place.
u
ALBANY, January 0th, 1S32.
D E A R JCDOK—Yours ju?t received. There are more apii'irntions for Banks this year than ever
before. You must make out a complete li**t of Directors. * MhVrr«, evc,» and if obtained, yuu must
k n o w how: It M U S T he a J A C K S O N BANK, and the B A N K J U N T O in this place mast be
allowed to have a linger in the pic*. Your*, truly.
PH. MAXWELL.
25. ALLP..V, Judge, &o.''
Y e s , sir, the inhabitants of that enterprising village and !'o:i:;:y, eould h a r e their
w a n t s supplied only upon condition that it was a *4 Jackson r.ank,'' and that the Ct Uank
J u n t o " at Albany (another name for the ** Albany Regency,"*) .should have a '•finger in
t h e pie"—or, in other word:*, should have tluur xharr oi' the *tock. Another feature
i n this disint treated dt'.movrativ jurrttj legislation for the dear people w a s , that the
m o r e e&clnsireiy
democratic
portion of the mem hers of those Legislatures always
m a d e it a condition of granting a charter, that itn-y should have their share of* the
s t o c k also.
I f t h i s had boon the " c o m b i n a t i o n of associated wealth." that my colleague had cond e m n e d , as one composed of*' Federal, aristocratic, unprincipled bank speculators and
b a n k v e r m i n , " and who were then and are now hi* political friends and associates,
I would have marie no complaint. But w h e n he charges those things to the Opposit i o n to M r . V a n Buren. and endeavors to fasten upon the party of which I am proud of
b e i n g a member, the odium and sins of his own party friends, I am disposed to have
h i m set right, and can come to no more charitable conclusion,' than that h e is,
i;
Too ignorant to tench, tao proud to learn/'
A n d r e m i n d i n g the gentleman of the old maxim, that ^ w e often condemn in others,
w h a t w e practice ourselves," and that w a mana^ikn^^yi^^y^he company he keeps," 1
k
*
^ 1
l e a v e h i m " a l o n e in his glory/B u t w h a t says Mr. V a n Buren, in relation to thestf. u mp^onqik's. \ and *• F e d e r a l ,
a r i s t o c r a t i c combinations of associated w<**itilififr! I& .hi< ; tii«iuflsAlls^ge to Congress
i n 1837, h e makes use of this l a n g u a g e :
.
S
4
" Banks properly established and conducted, arc kisrhty useful to the business of the country.
H o w they should be created, what privileges they should enjoy, under what responsibilities they
should act, and to what restrictions they should be subject, are questions, which as I observed,
on a previous occasion, belong to the States to decide."
E u t , S i r , I h a v e still h i g h e r authority, o n e w h i c h cannot be q u e s t i o n e d , t h e opinion
o f the u illustrious p r e d e c e s s o r " of the p r e s e n t e x e c u t i v e , and in w h o s e " f o o t s t e p s "
h e h a s p r o m i s e d to tread.
I n h i s a n n u a l m e s s a g e to C o n g r e s s , in 1835, h e s a y s :
'* By the use of the State Banks, which do not derive their charters from the General Government, and arc not controlled by its authority, it i* ascertained that the moneys of the United States,
can be collected and disbursed, without loss or inconvenience, and that all the wants of the community, in relation to exchange and currency, are supplied, as icell a* they ercr hare been before.'*
A g a i n , i n h i s last a n n u a l m e s s a g e , in 1S36, h e remarks t h a t :
"Experience continues to realize the expectations entertained as to the capacity of the State
Banks to perform the duties of fiscal agents for the Government, at the time of the removal of the
depositee It was alleged by the advocates of the United States Bank, that the State Banks whatever mi<rht be the regulations of the Treasury Department, could not make the transfers required
by the Government, or negotiate the domestic exchanges of the country. It is now- well ascertained, that the real domestic exchanges, performed through discounts by the United States Bank
and its twenty-five branches, were at least one third less, than those of the depositee banks, for an
equal peiiod of time ; and if a comparison be instituted between the amounts of service rendered
by these institutions, on the broader basis, which has been used by the advocates of the United
States Bank, in estimating what they consider the domestic exchanges transacted by it, the result
will he Htill more favorable to the deposit' banks/ 3
A n d for t h e purpose o f s h o w i n g that C^en. J a c k s o n had n o c o n s t i t u t i o n a l scruples to
relation to a charter from the General G o v e r n m e n t , and that h e had n o s u c h " h o l y
horror " o f s u c h an institution, a s his followers h a v e e x p r e s s e d , 1 read a n extract from
h i s m e m o r a b l e veto m e s s a g e :
" A Bank of the United States is, in many respects, convenient for the Government and useful
to the people. That a Bank of the United States, competent to all of the duties which may be
required by the Government, might be so organized, as not to infringe on our own delegated
powers, or the reserved rights of the States. I do not entertain a doubt.% Had the Executive been
called upon to furnish a project of such an institution, the duty icould have been cheerfully perJurmcd."
It will he s e e n , therefore, that tin fr/miinaiions of m y c o l l e a g u e a g a i n s t 4 ; chartered mon o p o l i e s , " arc wholly at v a r i a n c e w i t h the o p i n i o n s of m e n , w h o m h e c l a i m s a s patterns
o f ' ; m o d e r n d e m o c r a c y , " and w o r t h y of all i m i t a t i o n . A n d w h e n u doctors disagree,
w h o shall d e c i d e ?" W h e n the opinions of three s u c h great m e n , w h o h a v e b e e n so
d i s t i n g u i s h e d for their Jinavciaf
talent?, are s o m u c h at v a r i a n c e , h o w shall t h e plain,
h o n e s t , u n s o p h i s t i c a t e d and substantial portion o f our c i t i z e n s , arrive at proper conclus i o n s ? W i t h o u t i n t e n d i n g to e x p r e s s a n y opinion o f m y o w n upon this s u b j e c t , I wfll
v e n t u r e t h e assertion, that e x p e r i e n c e and* observation h a v e satisfied e v e r y enlightened
a n d reflecting m a n . o f the utility and n e c e s s i t y o f b a n k s , in c o n d u c t i n g t h e business
operations o f e v e r y enterprising and c o m m e r c i a l community* I will" a d d u c e anot h e r authority in support o f the Wanking 1 a n d credit s y s t e m , ancl I shall h a v e d o n e with
t h i s suhjret. T h a t authoritv I trust will not ho disputed, a s it i s from a h i g h official
s o u r c e , the V a n Huron Uanfc Coimnis. a ion;*rs t in their report to t h e L e g i s l a t u r e o f the
S t a t e o f N e w Y o r k , i n 1835.
" Banks have justly been esteemed as among the mo&t useful and powerful agents, in develop*
inrr the resources and stimulating the industry" of the country. T h e y may be considered one of
the principal lc^cs in that complicated machinery of credit, bv which the immense business operations of the world are chiefly moved. Actual capital could not have spread Lalf the canvas*
whieh now whitens the ocean, or give motion to half the spindles which are now in operation*
But credit, as a substitute for capital, has been found to answer the purpose of labor saving machinery to manufacturing industry ; and it is to the increased use of credit, in it* various shaped
during the hist half century»that the world i* mostly indebted for the astonishing rapidity with
which"manufacturing, commercial, and c\cn agricultural improvements, have advanced.
" W e are probably half a century in advance of improvements, which the actual capital 9&A
industry of the country would have effected, without the aid of an extensive system of credit,**
Our citizens have risen to a degree, of opulence and activity—the country has attained a degree
of wealth and imjirovemcnt—internal improvements have multiplied—our commerce and man**
facturcs have grown, and the settlement of the country has progressed, to an extent, which faigfct
5
.have b e e n witnessed by the next generation, but which, existing now, is beyond all parallel.
T h e a x e of the settler prostrates the forest as far in one year now, as ten years since it did in five,
and t h e progress of improvement, in every respect, delicti all calculation. It is believed to be impossible to account for the rapid augmentation of wealth, which is daily witnessed, upon any
other hypothesis, than that the use which has been made of credit in this country, has been exc e e d i n g l y productive. T h e industry and enterprise of our citizens, it is true, are unbounded : but
'without capital, both must always be comparatively unproductive. But combined with only a
^moderate capital, steadily increasing by its own accumulation, and also by profits derived from a
much larger amount of credit, actively employed, astonishing results are produced.
Individual credit, in this country, may be said to be sustained, in a great measure, by the banks.
T h e y furnish their own capital and credit in aid of individual enterprise ; they furnish the means
o f e x c h a n g i n g all the fruits of industry, and what is of far more importance, in this respect, they
give confidence to individuals in making their contracts.
Notwithstanding, banks, by their operation, may sometimes encourage overtrading, which
leads t o consequent changes of property, and fluctuations in its value, and notwithstanding the
community have suffered some small losses by their mismanagement; whoever duly appreciates
vthe benefits derived from them in this State, in sustaining the credit of the government and furn i s h i n g the means of defending our frontiers during the late war—in the prosecution of our extensive works of internal improvement—and, above all, in the support which they give to that
system of credit, which, to a great extent, has served as capital to build up our magnificent cities
and towns—to dispatch our 3.000,000 tons of tonnage abroad—to rear our numerous and flourishing manufactories—to give activity to our immense internal trade, and to subdue our forests
and to improve the cultivation of our farms, can be at no loss to estimate their value and importance.
It is impossible now to see, to what extent the vast resources of this country might have been
developed, or to what point we might have attained, in the accumu- dion of wealth and in the improvement of our natural advantages, without the use of hanks and a currency of paper ; but it
is not difficult now to see that banks are so intimately connected with all the operations of trade
and industry as to be indispensably necessary to (heir prosecution. So interwoven is this connexi o n , in the whole texture of their business operations, that we have always found business of
every kind active and prosperous when the banks were so. and depressed when they were embarrassed.
A n entire specie currency would undoubtedly have exposed us to lewer fluctuations, as the
entire disuse of individual credit would diminish the cases of embarrassment and bankruptcy.
B u t w h o would proscribe the use of individual credit ' The aggregate wealth of the country is
but little affected hy those revulsions in business which are incident to a system of credit. Property is not destroyed, although it changes owners. But the contributions"made to the wealth o f
the country by the increased productiveness of labor, when combined with capital, or credit ns a
substitute, are incalculable. If an account could be stater! with the banks upon this principle,
and an estimate made of the benelits derived from them, by the community on the one hand, anil
o f the losses suffered by them, whether by their influence upon trade or their insolvencies, on the
other, w e have no doubt the balance would be found to be decidedly and largely in their favor.
It is true, the system of credit, as well generally, as connected with the currency, may be extended too far, and such is the tendency of it : but "yet, it would be exceedingly unwise'to condemn the use of a machine, whose power was capable of the most useful service, merely because
it might sometimes require regulation.
Banking, in one sense, is a monopoly, because the restraining law prohibits individuals from
issuing paper for circulation as money. But it is not a monopoly in the odious sen.se usually attached to the term."
A n d , under the belief that the opinions 01 one of the most enlightened s t a t e s m e n
o f t h e last c e n t u r y — a m a n of great experience and one to w h o m this nation is greatly
i n d e b t e d , m a y h a v e their due w e i g h t and inilucncc, in opposition to the doctrines o f
m e r e ephemeral politicians of the present day—of little experience and l e s s practical
c o m m o n s e n s e , I refer, w i t h ^rcat pleasure, to one other authority, w h i c h will be found
i n the w r i t i n g s o f Dr. Franklin, vol. 4, pp. lGfi and 1 3 3 :
" A s to paper circulating as money, it is highly profitable, as its quick passing from one to another is a gain of time and therchy may be understood to add hands to the community ; inasmuch
a s those who would be employed in telling and weighing, will follow other business. The issuers
Or coiners of paper, are understood to have an equivalent, to answer ivhatTt is issued for, or valued at; nor can any metal or coin do more than hold its value- It is impossible for government
to circumscribe, or fix the extent of paper credit, which must, of course, fluctuate. Government
may as well preteiid to lay down rules for the operations, or the confidence of every individual, in
the course of Lis trade."
<€
T h e idea of too greatcxtonsion of credit, by the circulation of paper for money, is evidently
as erroneous, as the doctrine of the nonexportation of gold and silver in bullion or coin ; for were
it not ccrtah*, that paper could command the equivalent of its agreed for value ; or that gold and
silver in bullion or coin exported, would be returned in the course of trade in some other mcr
6
c h a n d i s e ; neither paper would be u$od. or the metals exported. It is by means of the produce of
t h e land and the happy situation of this island . joined to t h e industry of its inhabitants, that
t h o s e much adored metals, pold and silver, have been procured ; a n d so long as t h e sea does not
overflow t h e land, a n d industry continues, so long will tho*c metals not be w a n t i n g . And paper,
in the general chain of credit and rommeree. is as useful as they are.
u
Morover, as incontestible advantages of paj>er. w e must ;uld. that t h e charge of coining off
m a k i n g it, is* by n o means proportionate to that of coining metals : nor is it subject to waste by
lon<* use, or impaired by adulteration, sweating, or filing, as coins may."'
If the gentleman is not satisfied with these evidences of the value and_ importaace
of a system,
which he has visited with suchunqualilied denunciations and has declared
to bo, <4in all of its moods and tenses, a system of villain." I would advise him,
when lie goes home to his constituents, to inquire of them—especially of those who
were the hardy settlers of that nourishing and wealthy country—those who were
then poor and without the moans of paying for their farms, and who. by their credit
and industry, are now enjoyin^r all of the abundance and comforts of life* and ask
them if it is a system to be condemned, as one which the poor aud industrious derive
no advantages from. They will enlighten his mind upon that subject- They will
point out to him the effect which it ha« had in restoring them from humble poverty ta
competence and wealth—and they will also point to him that most stupenduous monument of enterprise and improvement, the Grand Erie Canal, which has contributed soastonishingiy to the prosperity—the wealth and glory of that State—a work which
would never have been commenced or completed, but for the credit system. Sir,
without this system, the western world would still have been a wilderness, the abode
of the savage' and wild beast* only—instead of a hardy, enterprising, industrious and
wealthy population. Our canvass would not whiten oiir inland seas; nor would the
hum of industry be heard in our manufactories, but for the system which he has denounced.
But, says the gentleman, t: J will give but one instance of the effect of this system
upon State credit, and I do so with deep humiliation. T h e State of New York, "my
own, my native land," while carrying on with careful energy and good husbandry her
magnificent public works, borrowed money upon her credit. She pointed the money
lender to her income, and to her actual resources, for his security : and her promises
to pay were eagerly sought for, and taken at a premium of from five to ten per cent.
Within a year or two. the State, under a "new impulse/" has embarked under the auspices of tlic "credit ay#(,m f and her stocks, in a single yean fell twenty-two per
cent, below par: and for every spvonty-cisrh; dollar* the State received, the farms of
her people are mortgaged to "pay one hundred dollars, with the interest on the one
hundred dollars."
Sir. when a man sets about the unworihy purpo*** of traducing his neighbors, and
bringing dishonor upon his own country, bjr the utterance °*Ta crave and deliberate untruth, he ought to feel ' d e e p humiliation."* Most sincerely do 1 wish, that I could
have discovered in the gentleman the least evidence of humiliation, or of any other
feeling that is creditable to the humnn heart, when he used that language, for the
paltry purpose of gratifying party feelings, and venting his spleen against an administration which is the just pride of his own Stat.. H e allege- that within a year or
two,
that State, " u n d e r a ocvr itnpiilsv* ha* embarked under the auspices of the
* ; credit system," and that her stocks, in a single year, fell twenty-two perr cent, below
par." A more unblushing slander, or a more gross misrepresentation w as never uttered. Sir, it is not true that the State has embarked in the credit system within a
year or t w o ; but it is true, that she has steadily pursued that system of credit and of
internal improvements, which had been adopted aud pursued under former administrations, always taking care to provide for payment of the accruing interest and principal as they should become due. T h e same systtv m which ha* contributed so much
to the £lory and prosperity of the "Empire State —and the insinuation, that the credit of that State, under its present wise and prudent administration, has been so w
duced, as to depreciate her stocks in market and compel her to dispose of thern, below
their par value—that the farms of the industrious yeomanry are mortgaged t o p t f
one hundred dollars and interest, for what the State received* only seventy-eight 3o*"
lars, is a gross libel upon her character, and not entitled to serious consideration for *
single moment. I am willing to concede that there was once, a sale of State stock
which had been loaned to the New York and Erie Railroad Company, and whfcfe
bore an interest of four and a half per cent. only, and was not redeemable until XQ&f^
4
for s e v e n t y - e i g h t dollars on the hundred. That, I presume, is the only foundation for
t h e c h a r g e w h i c h m y colleague has made, and which produced such u d e e p humiliat i o n . " B u t if he will take the trouble to examine that transaction, and make a calcul a t i o n u p o n it. according to its rate of interest and time for redemption, he will disc o v e r t h e gross error he has committed.
B u t suppose there had been a loss, it would have fallen upon the company, and not
u p o n t h e State, It w a s not a sale under the direction of the State. Not one farthing
did t h e S t a t e lose upon the stocks : and it is worthy of lemark, that, on the same occas i o n , o t h e r and six per cent stock sold for 100 cents on the dollar. " B u t / ' says the g e n t l e m a n , " t h e credit system is, in all its moods and tenses, a s y s t e m of villany.
It
h a s destroyed honest credit: it has almost destroyed our commercial character ; it has
s w e p t millions of its blind devotees and innocent victims into the whirlpool of irretrievable insolvency ; it has carried poverty and wretchedness into thousands of humble
d w e l l i n g s , w h i c h were before the abode of competence and happiness ; it has e x c h a n g e d m a n y a happy home and fireside for the poor-house; it has degraded the
m o r a l character o f your people, both at home and abroad."
N o blind or deluded devotee of party w a s e v e r m o r e mistaken. It is the present weak
a n d profligate general administration, and not the credit system, (unless it may be the
credit w h i c h has been c i v c n to a faithless Administration,) w h i c h has produced that
state o f things w h i c h the gentleman has described, and w h i c h produced such " painful
emotions."
A g a i n s a y s m y colleague, ; 4 i f it (the sub-Treasury bill) would cut up that s y s t e m
b y t h e roots—eradicate it forever from the land, it would be a glorious bill indeed."
I n t h e very next line he says, *'I am no enemy to credit." " Consistency, thou art
i n d e e d a j e w e l . " And here, with the single remark that it is to the credit system that
t h e S t a t e of N e w York is indebted for her unrivalled prosperity and the high rank
w h i c h s h e holds among her sister States. I take my final leave of the gentleman and
r e s i g n h i m into the hands of his constituents, w h o , I have no doubt, will award to h i m
m o r e a m p l e justice than they have received.
O n e word, sir. in relation to the charge of federalism which has been made, and so
often reiterated, against the opponents of this bill and of the ruinous policy of the
Administration. T h i s charge comes with an ill-grace from a party w h o s e doctrine is
** p a s s i v e obedience and non-resistance" to the will of the E x e c u t i v e , and w h o s e ranks
are filled with soma of the most rank, ultra and hizh-toned Federalists w h o ever lived
in t h i s or any other country, and w h o are among the most confidential friends of the
E x e c u t i v e . ' Y e s , sir. the odium of Federalism is attempted to be fastened upon all
w h o dare oppose the mad schemes of the Executive. And it is worthy of remark,
that the honeyed accents of Democracy and the strongest denunciations of the F e d e ralists, emanate from thp white-washed thro 112 with w h i c h the ranks of the A d m i n i s tration are filled, more than from any other class of politicians. T h e y an 1 eternally
prating about democracy, in order to conceal fcfc the leprosy (of federalism) w h i c h lies
s o d e e p within." Look"into the other end of the Capitol—look, also, through this hall,
a n d h o w many of this sort of politicians do w e find? M e n w h o opposed the last war
w i t h Great Britain—who were the enemies of the illustrious Madison and of his
principles, and w h o n o w helong to the simon pure democratic party. A m o n g this
n u m b e r is my venerable colleague from Otsego, (Col. Prentiss,) w h o has been s o
l o n g bleaching and whitening in the ranks of •' the party," that he s e e m s to have
forgotten his former hatred of democratic principles, and open and avowed opposition to the war. And to what miserable shift* has he resorted to avoid the imputation
of h a v i n g been a Federalist and opposed to the war ? H e has made it a question of
veracity
on this floor, and a statement which he made a short time since in this Hall,
w i l l be found in the columns of th'^ Government organ in this city.
" It w a s true, Mr. P . said, lit* was a federalist at the period referred to, [the last war,] and that
h e edited a paper which sustained federal doctrines. 1 he reason was that he was horn and bred
i n Massachusetts, the hot-bed of federalism, and that it took time and reflection to eradicate early
impressions. H e did oppose the declaration of war, as having been made prematurely, and
-without adequate preparation for a contest with such a powerful nation as England, but lie
•utterly denica that he ever opposed the ttar after the contest began.
S o much in regard to the
imputation o f being a federalist and opposed to the war.;'
After this, w e find a certificate published by the gentleman, in the same paper, purporting to be signed by a number oi individuals, s h o w i n g that they had no
knowledge
o f h i s n a v i n g been opposed to the war, or of his rejoicing at the success of the British
s
unns. W h e n I saw that certificate, it reminded me oi a son of E r i n who had been
convicted, upon the clearest evidence, of stealing a horse, and was asked by the court
w h a t he had iCto say why judgment should not be pronounced against him. His
answer was— And faith, your honor, if I had time, I would prove, by a hundred
witnesses, that they did not see me stale the horse/'
But the gentleman has furnished us with much better evidence of his friendship
*nd support of the war—his hatred to federalism, and his unwavering attachment to
democracy—as will appear from the testimony which I will adduce. It is unfortunate
for an individual, sometimes, that his own written and published sentiments, rise up
in judgment against him. I read extracts from the "Cooperstown Federalist," a
paper published by the gentleman during the late tear.
i/
Democracy then arose—DEMOCRACY, the fJT*pring of Jacobinism, strangled in its birth by
yhe mighty frown of America's chief, then assumed a ,; title and a name/' H e r e , then, fellow:ith:>.>n>s is its origin, an origin worthy of it* subsequent exploits.
,
" It is with great sensations of indescrihahle pleasure that I find myself enabled to announce
v,h? complete triumph of the Federalists, If my humble labors in the cause of my native country
have produced the change in favor of Federalism, in this county, then have I arrived at th^ acme
if my hopes, the summit of all my wishes. T h e frightful Hydra of Democracy begins to droop'
h* head before the heaven-derided spirit of Federalism. Democracy ! a monster wild as that
-which roams the Lyhian waters, and joys to drench its tusks in blood—a pestilence that spreads
*.t>nisigion over the whole extent of our country—a pernicious blast that withers every thing it
touches.
-"• Can the. present American W a r be called a war for Liberty 7 Does Liberty require that we
-liquid lake Canada? Does Liberty demand that w e should fight on the side of the French
Kuuperor fi D o e s Liberty require that w e should be at war with the only nation which, besides
ourselves, has any pretensions to popular freedom.
r;
It is a low estimate to say that w e have lost thirty thousand men by sickness, capture, desertion- and disastrous battles* Yet this \ca.«:e of tire* i* HORRID to erery breast in which humanity
r}n<U n tlir-cllinsT, and will rest on the I>KV.#TKI* IH:*:>S MF THK A U T H O R S OF THE P R E S E N T
W A l t . because there has been no rorrcupontUnt adrant i<rc*. If one MURDER always wrings the
hr;<n of its perpetrator till utterance is found end a di^ -Insure takes place, what must be the AN,t >.<H OF ouu .rnwENT RULERS, on whom the G C I L T of a T H O U S A N D M U R D E R S is acch>mihited ?
•- Unite your whole force in firm indivisible p'udunx. nnd.hy the exercise of your constitutional
i;)V.-ih'trcs, express your A B H O R R E W E « >F T H E VVAR in which our country is engaged, &c.
' >ur rulers at Washington had irono too far to recede with honor. T h e y must, therefore,
hfi**in<£ dismantled our navy, having tfec-tr^yt't our ;:r y. nnd having exhausted our Treasury, a*
Tiiv.m LAST I>KRI»KUATK ACT, pluyitrc v< inty t.'i-- 1'A LAAffTIK&
of War.
Our fleets and our
•fi'inies, our emissaries and our savages, are *i-nt forth " conquering and to conquer.*" Attempts
hiixing been made hv proclamation, those mighty engines of Executive power, to seduce the Ca:tj*}i(t)t.* from their allegiance* without suece**, a hostile torce must needs be sent TO SUBJECT
-•HAM TO orru ARMS.
Our M I L I T I A M I S T B E D R A G G E D F R O M T H E I R F A M I L I E S
A N D .THEIR HOMES T O BE SACRIFICED A T T H E SHRINE OF g ^ D E M O ''; R A T I O . ( p | C O N S I S T E N C Y .
* J* further remains for our Demorrniio legislators to foriu an alliance with France, hi order
..}>>. r fee f the CLIMAX
OF POLITICAL^*
RSrRDITW
to crush the restive* of liberty in
hlun>pe, and to proclaim to an astonished world that a Republic •• CAN SMILE AND SMILE, AKO
M U R D E R WHILE IT SMILES/'
No one. I trust, will question either the 'irmorracy or the veracity of the gentleman
it.*reafUir. Other illustrious examples, of a similar character, might be given, but let
•r.hts suffice as a fair sample for the whole. Mr. Jefferson said, * we are all Federalists,
we tire all Republicans."
{ will now, sir, nroceed to examine sorao of th•: arguments which have been used
i\ support of the bill under consideration.
It has been said that the system recommended will have the effect to render the
public moneys more safe in the hands? of public agents, and prevent frauds and peculations. If t could believe that it would have that effect, it would be much more a c rentable to m e than it now is ; for experience has shown the necessity of some mea&ure to effect so desirable an object. T h e losses which this Government has already
vustained by means of fraudulent, faithless, and unprincipled " sub-treasurers," has
hee-n one cause of our bankruptcy and ruin. T h e time was when the inquiry Was
:aade, in making* situations for public officers, " i s he honest, is he capable, is h e faithful tx> the Constitution ?" And if that system w a s again to be adopted, w e should
hear no more of our land receivers, our custom-house officers, our district attorneys,
9
a n d other receivers of the public moneys, fleeing in such numbers to Europe and
T e x a s , in order to escape punishment for wasting and embezzling the public funds.
B u t a very different system obtains at the present day, and the inquiry now made in
s e l e c t i n g public agents is, " w i l l he be faithful to the paity, and is he an influential
a r t i s a n ? " Honesty, competency, and services to the country, furnish no rocommena t i o n s for passport to public favor, under this Administration; and so long as this
s y s t e m obtains, all of your " bonds, locks, bolts, bars, and safes," provided for in this
bill will afford no security for the public treasures.
A g a i n , it has been said' that this bill commends itself to our support for the economy
w h i c h it provides for, in the *' safe-keeping and disbursement of the public revenue,"
T h e only answer which is necessary to be given to this argument, will be found in
t h e provisions contained in the 12th section, which reads as follows:
S
S J : C . 12. And be it further enacted, T h a t the Secretary of the Treasury shall be, and he is
h e r e b y , authorized to cause examinations to be made of the hooks, accounts, and money on hand,
of t h e several depositaries constituted by this act; and tor that purpose, to appoint special agents,
as occasion may require, withracA compensation as he may think reasonable, to be paid and dec l a r e d at the time of each appointment.
I consider that one of the most dangerous and alarming features of this bill—as it
confers most unlimited powers uponi4 a subordinate officer. Mr. Van Burcn, in his ann u a l message to us, has said that, simplicity and economy in the affairs of state,
h a v e never failed to chasten and invigorate republican principles, while these have
b e e n as surely subverted by national prodigality, under whatever specious pretexts it
ma,y Hare been introduced or fostered."
T h U is certainly sound and wholesome precept,
a n d it may be useful to compare it with a little practice. W h a t are the powers conferred
u p o n the Secretary of the Treasury in that section ? A power, which I will venture
to say, w a s never conferred upon any subordinate officer, under any government, before. T h e power to appoint as many special agent* as he pleases, and pay them any
compensation which ho may deem proper.
I t will be recollected, sir. that the Secretary of the Treasury is an officer subject to
t h e will and control of the Executive, and it will not be* forgotten, that the power of
t h e Kxccutive has once been exercised in the removal of an honest and patriotic Head
of that Department, for no other reason than because he refused to do the will of the
E x e c u t i v e , in violation of his duty.
*
I have always understood that it was the policy of wise legislation to limit and circumscribe the powers delegated to subordinate officers. But what do w e see hero ?
A delegation oi most unlimited powers, which may be perverted to the use of some
ambitious demagogue, to minister to hi.- "Hinchastenod ambition." W e are now in
a state of great agitation and excitement. W e have been told that, *'the People exp e c t too much from the
Government;" and the doctrine which has been proclaimed
the People take care of themselves, and the Government
from high places is, 6i Let
will take care of itself/7 W e are a jealous. watchfuL and confiding people. On the.
o n e hand, w e have exhibited the grand, moral, and sublime spectacle of a great and
powerful nation, struggling for liberty, and determined to be rid of an administration
characterised bv its broken promises—its extravagant expenditures—its empty Treasury, and which has brought general depression, stagnation, bankruptcy and rum upon
t h e country. And on the other, we see an army of office-holders, using the whole Gov e r n m e n t power and machinery, including the treasure of the nation, to secure their
places and perpetuate that power, which they hnve most shamefully abused. On the
one hand, it is a struggle for liberty. On the other, for arbitrary power and despotic
s w a y . T h e struggle is a fearful and desperate o n e ; and may well be compared to our
former struggle forliberty and independence. Sir, wc have a most ambitious man at the
head of this Government*. H e is living in all the pageantry, extravagance, and profligacy
of a European Monarch, at the expense of the People. H e has the power of controlling your Socretarv, and if the present one would not consent to minister to his ambition ; in imitation of the example of his A' illustrious predecessor," he dan dismiss*
him,, and appoint another who will. Under pretence of appointing "special agents,-for makingn "examinations" of your ^depositaries," as many agents as you have depositaries (& & the number is alarming) may be appointed, as travelling political missionaries, with the whole Treasury of the nation in their hands, by way of "compensat i o n , " for the purpose of corrupting the people, and buying them in to the support*of
this administration. T h i s is not fancy. W e know that menhave been employed and
10
paid by the Government, for mere party purposes ; and w e have good reason to believe
that there will be more so employed. A n d what security have w e against additional acte
of this kind, and to any extent that may be deemed necessary ? Sir, I would not confer such a dangerous and unlimited power upon the purest man living. T h a t power
may be honestly and properly exercised ; but it may be converted into an e n g i n e of
party tyranny, to overthrow the liberties of this country.
There is one other section of this bill which is entitled to a passing notice, in connexion w i t h the one w h i c h I have just annexed. I refer to the 27th section, which.
provides '* that for the payment of the expenses authorized by this act, other than
those hereinbefore provided for, a sufficient sum of money be. and the s a m e is hereby
appropriated, to be paid out of any money in the Treasury not othewise appropriated."
D i d any man ever hear of such an appropriating clause in a bill as t h i s ? A sufficient
s u m of money—just so much as the wants of an ambitious demagogue m a y "require
to have placed in the hands of his travelling emmisaries. bv his obsequious Secretary,,
is appropriated, to be paid out of any money in the Treasury. T h i s provision has
probably been inserted from the necessity of the case. As* the number of officers,
agents, and clerks ia unlimited,
and their compensation undefined * it w a s difficult to fix
any particular s u m to be appropriated, and hence this most extraordinary provision*
1 would propose, sir, as an improvement in legislation hereafter, and one" w h i c h will
certainly have economy to recommend it, as it will be attended by a great saving o f
time and m o n e y , that w e pass a general act of appropriation in these W o r d s : uBe it
enacted^ T h a t for the payment of the expenses of this Government, other than those
n o w provided for by law, a sufficient sum of money be. and the same is hereby appropriated, to be paid out of any monev in the Treasury not otherwise appropriated"." T h i s
would be " a simple machine,'* which, in the hands of this Administration, would ans w e r its purposes exceedingly well.
A n d while upon the subject of economy, about w h i c h so m u c h has been said, but
w h i c h has never been practised by this "Administration. I desire to say a f e w wordfc
more, and furnish a little e v i d e n c e / It is a fact well established in the history of parties, that the present Administration o w e s its existence to the hue and cry against the
extravagance and prodigality of the Administration of Mr. A d a m s , and to the promises
of economy, retrenchment, and reform, in case of a change. N o w mark the sequel,
and see h o w those promises have been violated—promises w h i c h were false, hollow,
and insincere—intended to be violated, and made only to deceive and impose upon the
honest and unsuspecting portion of the communitv—as a means of securing a passport
to power and place.
T h e following table exhibits the expenses of the present and former Administrations:
1*25,
-
-
-
-
-
-
* J 1.490.459
18&>,
IH27,
IK2H.
-
-
-
-
-
-
l3.Ot32.3lii
1SJ;33.095
K W9tf.041
S50.-r>01.911
Mr, Adams's Administration.
Average for each year, Sl2.573.4T7,
1H29,
-
1830,
-
1831,
.1832,
-
1833,
1834,
1835,
1836,
-
-
'
-
.
-
-
.
-
-
-
.
-
*10JV>0.490
13.229 "533
-
73^<it;oiw
H;,5!«; ? 3$!S
-
.
-
.
_
-
-
-
-
-
-
-
.
-
.
.
22.713,751*
1K,425.417
17.511,950
-
-
.
.
.
.
30;HtiH,lf>4
Gen. Jackson's Administration,
Average for each year, & 18,224,095.
1837,
1838,
1839,
-
_
-
-
-
-
-
-
3145.792,735
S39.1IU.745
40;i27,2l8
31,815,000
Mr. Van Burcn's three first years,
$lil,4iti,955
Average for each year, $37,135,051 •
F r o m this statement, it will be s e e n that the e x p e n s e s under this " people-loving^
money-saving, economical, democratic administration," have amounted to more t h a n
three t i m e s w h a t they w e r e under the u prodigal, wasteful and extravagant a d m i n i s
11
t r a t i o n o f Mr. A d a m s . " W h a t a magnificent improvement in economy is here exhib i t e d ? A n d h o w do the friends of the administration account for this"extraordinaryi n c r e a s e of our e x p e n s e s ? Generally? the answer g i v e n is, that our population has inc r e a s e d in a similar ratio w i t h our expenses. But this is untrue. A much better ans w e r c a n be g i v e n . B y looking into the increase of officers, the increase of their salaries,
t h e s u m s w h i c h w e are charged by the government harpies under the head of " contingent expenses"
(amounting in some ea^cs to more than their salaries.) including the
m o n e y s that have been squandered, in pursuing a miserable remnant of Indians, in the
s w a m p s and everglades of Florida, and embracing the amount w h i c h has been lavishe d u p o n ** party tools/* without authority of law, a most satisfactory answer will be
found.
I ask the attention of the committee for a f e w m o m e n t s , to a report, made to this
H o u s e , by the Secretary of W a r . on the 1st of February, 1839, containing an account
and warm,
disintero f a g o v e r n m e n t agent, ( R . II. G I M . E T T , ) a '• stern democrat^
ested friend and supporter of this administration, embracing a statement of the e x p e n s e s
o f a 4< S e n e c a delegation of Indians.' 7 It should be borne in mind, that this agent res i d e s at Ogdensburgh, near Mr. Senator Wright, and that the Indians reside in the
•western part of the State of N e w York, several hundred miles from this honest and patriotic agent. H e w a s probably selected, because he w a s more *; purely democratic,"
t h a n a n y person w h o could be found in the neighborhood of the Indians. L e t us look
i n t o s o m e of the items of the account rendered by this C£ faithful and disinterested"
supporter of this administration, w h o has grown rich, at the expense of honesty, and
t h e sacrifice of
principle.
" FEBRUARY 15,
" P a M Ferris & Eaton,
F o r various articles of clothing.
Do.
Do. Do.
Do. Do.
Do. Do.
Do. Do.
I*o. T>o.
Do. Do.
Do. -
-
-
-
-
-
-
-
-
-
-
-
.
-
-
.
.
1838.
&* 17,00
14,25
77,87
70,00
fiO,G3
90,-25
108,00
47.00
Eight different item*, at one place, in the same day
£515,00 "
* F o r expense* of ei*rht persons from X e w York to Philadelphia, (stated that the vouchers could
not be taken for their payments.)
&2& 0 0
F o r expense** of eisrht persons "from Philadelphia b> Baltimore, (stated that voucher**
could not be taken for their pa vine I its, ^
32 0 0
F o r expenses of ciffht iier^ons from Baltimore to W a s h i n g t o n , (stated that vouchor*
could not be taken.)
- 9 0
00
/|(j 00
P o r three and a half days board f*»r <ie]e^ation at Albany.
83 00
F o r expenses. &cM at "New York, (the \ouehcr* for which has been mislaid*)
P o r one day aboard ofeiirht persons, iiivs. c.'ituuj-asrnc, c/ffi?"*;, *Jre., 21 0 0
F « r board of eitrht ]K^rsojis, t/f/r;-t/?u/ct^'/r.N^ 19 75''
*?otc.—The three la^t charges are tor expenses in N e w York, w h e n travelling
In
Washington.,
and embrace the t.rprnte* of the honest agent, w h o ( a s will be seen)
charged $ 8 per day for hi* services*, besides exjtenscs.
'• P o r board 1 dav of eight persons, char.ipacrne. and fire in chamber, at Bar mini's Baltimore,
20 00
P o r incidental expenses from Buffalo to W a s h i n g t o n , (furnishes only a few bills; of
on the road, & c ) ~ .
" .
~
" .
~
~
" 310 00
P o r board and lodging of the Seneca delegation o f X o w York Indiana, including agent
and interpreter, be?n<r 8 persons, from March 9th, 1838, to June ll>th inclusive,
o n e hundred days, at &2 50 per day,
2,000 0 0 "
( I t should be borne in mind that good boarding could be obtained in the City, for lose
t h a n JfclO per w e e k . )
*' F o r shaving and cutting hair for the Seneca delegation in W a s h i n g t o n 3 months 15 0 0
F o r expense* o f returning from W a s h i n g t o n to Buffalo
200 0 0
F o r board o f the Seneca delegation, including agent, ten persons, for eight days, at $ 2 a
dav, and for washing and shaving, and refreshments, ( C i t y Hotel, N e w Y o r k , )
169 2 5
P p r incidental expenses on the way to Buffalo,
200 00
F o r incidental
and contingent expenses during three months stay at W a s h i n g t o n , and
on the return homeward*, on the road to N e w York, for ten persons, 5240 0 0
P o r c a s h advanced to the delegates for private expenses,
•
210 0 0
c
12
F o r his services as commissioner, in travelling from his residence at Ogdensburgh to
Washington, 704 miles and back, at $ 8 per day, 20 miles travel
563 99
F o r 111 days spent at W a s h i n g t o n in attending to his official duty, at S 8 per day
880 00
F o r copy inp; commissioner's
special report
- 1 0 0 0
For provisions furnished to the N e w York Indians at Council to wit, 5S 1-4 barrels of
pork and 9 8 barrels offlour,
_
_
-"2,16875s'
( T h e council lasted 9 days, and the number of Indians in attendance w a s about 80.
W h a t appetites they must have h a d ! )
" For services as commissioner, between 14th of July and *>2nd January. 1639,
- 2,718 0 0 "
H e r e is an exhibition of economy, that is worthy of the attention of all, especially
of the laboring portion of the community, whose wages are to be reduced, by the measure, now in progress.
Such an account, I "will venture to say, was never made by any man, -who had any
just pretensions to honesty. More than $14.00 per day. nearly - 100 miles excess of
travel, besides excessive and exorbitant charges for travelling expenses, including $egars, champagne, cider, tyc. W h o will doubt, for a moment, that this man is a conscientious supporter of Mr, Van Buren ? T h i s is a fair sample of a variety of accounts,
which may be found in the various departments, and is a specimen of that
c<
simplicity and economy in the affairs of S t a t e / ' recommenced by Mr. Van Buren,
and which*he says " h a v e never failed to cluixten and invisrorate Republican
principles"
Accounts of this kind, made by men ;« wanting principle and wanting bread," and
sanctioned by a profligate administration, furnish some of the reasons of our being so
deeply in debt, and being obliged to resort to loans in the shape of Treasury Notes, to
carry on the operations of government.
And it may be useful to look into the condition Q{ thU economical administration
now, and compare it with what it was at its commencement. In so doin^, we shall obtain
information desirable to every man, who has the happiness and prosperity of his country at heart*
T h e act authorizing a distribution of the surplus revenue, directed that o n the 1st day of January, IH37, thi'.rc should be retained in the Treasury £0.000.000. and the balance should be distributed, amminr tin; States.
There, WHS, in fact, retained upwards of
*
£G ? 000,000
Thrive bonds given by the United States Bank, tor the ?toek owned by the United
States in said Bank, and since collected by Mr. Van Buren. €,000,000
B o n d s for duties clue before 1W37. and which were « xtended on account of the
great fire in N e w York, and which fell into the rc<?ti;:f.* afi>r Mr. V a n Buren
cam*' into office, about 0,000,000
T h e fourth Instalment of surplus, directed to be distributer! to the States, and
which has been withheld from them, by th«* art oi" October. 1*37, about
9,000,000
If w e regard t n r $W|000,000 of Treasury notes <rs ;\iu/m whieh were outstanding
and which hove not yet been called in. then w e must charge the lately aiv
thorized issue of Treasury note*.
~f* ,000,000
M a k i n g in the aggregate
$32,000,000
T h u s it will be seen that Mr. V a n Buren ha? expended, since he came into power, over and above
all the acrruing revenue, the sum of $£27,000,000
A n d run the country in debt
,
.
.
_
5,000,000
T h e total amount of expenditure beyond the incou;c of the Government, is
832,000,000
Suppose that there had been no means on hand to support the government w h e n
Mr. Vn.n Buren came into power, except the regular income of revenue, provided for
by law, from imports and sales of public lands, what would have been our present condition ? W e should have been ^32.000*000 in debt, without any other means of paying it, exnept a resort to direct taxation* and to this we must come, in case this profligate administration should be continued in power. T h e r e is no other escape from
Direct Tawes* but by changing the administration and-having retrenchment and economy carried into practice^ instead of existing in profession only. W e have h a d
profession
without practice, until the nation has been brought into a state of bank*
ruptcy and ruin.
Mr. Van Buren has been in office a little more than three years, and has expended
$32,000,000 of capital, besides the income of the government, and in case he should b e
re-elected, and proceed i u the same ratio, at the end of his eight years, he will have i n -
>
13
volved us in a debt of more than $71,000*000 ! And if it be true, that " a national debt is a
national blessing," then will Mr, Van Buren have covered this country with a blessing that will endure until removed by the hands of the
tax-gatherer.
But, sir, the increase of power and patronage conferred upon the Executive by this
bill, is one of its most alarming features. Mr. Jefferson in a letter to James Madison,
dated March 15th, 17S9, has well said that, *< T h e Executive power in our government is not the only, perhaps not even, the principal object of my solicitude ; the tyranny of the Legislature, is the danger most to be feared, and will continue to be so
for many years to come. The tyranny of the Executive, howeve?\ wilt come in its
turn, but at a more distant period.
That period has now arrived.—The power and patronage of the Executive has become truly alarming, and should not be increased. He has already more than 100,000
office-holders at his command, and more obsequious and subservient slaves
are no where to be found. Besides, there are clerks and other subordinates, almost
without number. For the purpose of intimidation, and of overawing those who are
occupying places under the; government, and preventing them from exercising the
elective franchise, a right * inestimable to freemen and formidable to tyrants only,"
t h e mandate has already gone forth, through the columns of the Globe, that none but
democrats shall be retained in office, after the next election. T h e iniiuence of this army
of "officers, especially at our elections, has become truly alarming, and unless it can be
checked, will become irresistible and overwhelming.
In addition to this power, the Executive is the-Commander in Chief of your Army
and Navy, and we have recently seen with trembling solicitude and fearful anxiety
and alarm, the attempt which has been made of arming and disciplining 200,000 militia, and placing them at the disposal and under the control of a " Democratic President," And the attempt is now being made to place the treasury of the Nation at
his command—to unite the pur*c and the sword in the hands of one individual And
what additional power could the most designing the most ambitious, and the most
aspiring Semagogife seek or desire ? Indeed, what more could be given h i m ? P a s s
this bill, and the People will have surrendered eceru thing-, and the Executive will
possess all power. W e have already seen the fulfilment of the prediction of a distinguished individual, who now occupies a seat in the other end of this Capitol,
( T . H. Benton,) and who holds a high rank among the friends of this Administration.
I beg leave, siri to refer to a celebrated report of his, upon the subject of Executive
patronage, some years since. It is a report, drawn up with distinguished ability, and
is full of instruction. One which should be perused by every supporter of this Administration—its contents become the subject of deep and constant reflection, and of the
most earnest solicitude, for the stability of our Government. I read from the report
which was made to the Senate on the 4th Mav, 1826. Congress Document, Vol. 4*
pp. 133, 137.
" T h e exercise of great patronage in the hands of one man, has a constant tendency to sully
the purity of our institutions, and to endanger the liberties of the country."
After giving an example of this power of patronage, by referring to the Customhouse in the city of New York, the report proceeds:
11
A formidable list, indeed ! Formidable in numbers, and still more so from the vast amount
o f money in their hands. T h e action of such a body of men, supposing them to be animated by
one spirit, must be tremendous in an election ; and tfjatthcy will ueso animated, i* a proposition,
too plain to need demonstration. Power over a man's support, has always been held and admitted to be, power over his ir/7/. T h e President has power over the support of all these oflieers,
and they again have power over the support of debtor merchants to the amount of ten millions of
dollars per annum, and over the daily support of an immense number of individuals, professional,
mechanical, and day-laboring, to whom they ran and viiK extend or deny, a valuable private, as
well as public patronage, according to the part which they shall act in State as well as Federal
elections.
" T h e power of patronage; unless cheeked hy the vigorous interposition of Congress, must
go on increasing, until Federal influence, in many parts of this confederation, will predominate
i n elections, a s completely as British influence predominates in the elections in Scotland and
Ireland, in rotten borough-towns, and in the great nayai stations of Portsmouth and Plymouth.
" T h e whole of this great power will centre in the President. T h e King of England is the
fountain of honor—the President of the United States is the source of patronage. H e presides
over the entire system 0 f federal appointments, jobs and contracts—he has power over the support of the individuals w h o administer the system—he makes and unmakes them—he chooses
from the circle of his friends and supporters, and may dismiss them, and, upon all the principles
14
of human action, will dismiss them, as often as they shall disappoint his expectations. His
spirit will animate their actions, in all the elections to State and Federal otficers. Patronage wUI
penetrate this body—subdue its capacity of resistance—chain it to the car of power, and enable
the President to rule as easily, and much more securely with, than without the nominal check of
the Senate.
" W e must then look forward to the time, when the public revenue will be doubled ; when
the civil and military officers of the Federal Government will be quadrupled; when its influence
over individuals will be multiplied to an infinite extent; when the nomination by the President
can carry any man lb-rough the Senate^ and his recommendation can carry any measure through
the tiro Houses of Congress; when the principle of public action will be open and avowed.—
The President wants my vote and I want his patronage ; I icill v*te as he wishes t and he trill
give me the office 1 wishm for. What will this be but the government of one man, and what is the
Government of one man hut a Monarchy? Names are^hothin^. The nature of a thing is in
its substance, and the name poon accommodates itself to the substance,
" The President may, and in the current of human a Hairs, will be, against the Peopte ; and in
his hamk the arbiters of human fate must be against them also. This will not do. The possibility of it must be avoided. The safety of the People, is the " Supreme law ;" and to ensure
that safety, these arbiters of human fate must ehansre position, and take part on the side of the
I*topte:*
Sir, what w a s once prophecy is n o w history, and the time has arrrived, and w e now
w i t n e s s it, " w h e n the nomination of the President can carry any man through the
S e n a t e , and his recommendation can carry a)ty w-asure through the two houses of
Congress." And what is this but a ' movurcny?
It i< a Republic only in name.
S i n c e thv innkinr? of that report, the powvr ami influence of the Executive has been.
increased to an alarming: extent. Instead of there hi; in? but one hundred and seventy*
five officers attached to the custom house in the city ot N e w York now, fas under
the Administration of Mr. A d a m s , (an Administration ??which will ever occupy a
bright pa^e in our history:) by examining the " Blue Uook of the present year, it will
be lound that their number lias been increased to Jlmr hundred and
ninely-one^oXmost three times the number. T h e i r salaries at that time amounted to only 8101,173 89.
Under this "democratic and economical administration," they amount to $543,540 99,
more than three times the amount !! T h e salaries of clerics, were then from $500
to #650, now they amount to from 8600 to $1,250* makin-z a difference of nearly onehalf ; and among those high custom house officers will be seen the names of individuals
belonging to a party in 1S37, which were thus described in the Albany Argus, the
leading or^an of Mr. V a n Buren in that State, and were among his most devoted
supporters:
" No portion of thu Republicans of this county or State, we trust, entertain any feelings in
common with the distinctive views of that faction, nricinatintz in the city of New York, K N O W N
A S T H E LOCO FOCOS, and of which we hnvj a snuiil number In this county; that we regard their doctrine and principles as utterly abhorrent to all prineiplerf of re pub licanism or morality and of the ^ood order of society, and at war with the SAT* ty of our civil and religious institutions; and that any attempts by any party to ruurt their favur or support, for any purpose whatever, we are satisfied would and should produce uVteat and (Horace/*
T h e same party that Mr. Ritchie, in the Richmond Enquirer, the leading organ of
this administration in Virginia, in the same vear, ( w h e n it w a s opposing this* S u b treasury system,) declared to he " the rabble tntioicem
of the camp—the Loco-foco
Destructives, w h o constituted no part of the /fepubfivau
party"
T h e same m e n
w l i o arc now, and were then, at war with our civil and reliorious institutions, are t h e
leading men in the ranks of the administration in the city of _\ew York ! ! Y e s , sir, the
influence of this array of Custom-house officers is hroujfht into conflict with the purity
and freedom ot our elections in that city, and exercises a mo-t overwhelming and c o n trolling^ influence. T h e y are ail electioneering partisans—that i< the tenure hy which,
they hold their offices. S w a r m s of Custom-house officers are scattered all along t h e
shores of our iYorlhorn and Southern Lake:?, who are the most oiliciou^ axid active partisans to ho found, and some of w h o m are appointed to perform no other duties. Y e s ,
sir, to perform the services for the party, and not duties to the country. 1 .know of a n
instance in my o w n district, where an individual w a s employed hy a collector to peddle Administration
newspapers
on the eve of an election, and paid out of the Public Treasury,
at the rate of $ 3 0 per month—and he performed no service appertaining
to the customs ! T h e s e are among the fruits of a weak and corrupt administration, w h i c R
claims to have so much love for the people.
15
Mr. Chairman. W e have arrived at a period in the history of our country, which is
truly alarming. T h e attempt is being made to force upon the American p#-i,pie, a
scheme
of the Executive, which one of his most ardent supporters once declared to be
4
* disorganizing and revolutionary, subversive of the fundamental principles of om ^0vernment, and which would expose the Treasury to be plundered by a hundred hands
-where one cannot now reach it." A system which a distinguished Federal fcv*nai.>r
w h o is a friend of the administration, has recommended to us, because "it wit I hr fas
means of bringing down wages and prices, to a level with the world, andco*m*>r *>uy
-country with blessings."
A system which will reduce and degrade the most numero u s , hardy and industrious portion of our fellow citizens, the bone and sinew of *hr
country, to a level with the mere serfs of Europe. " P o w e r is always stealing from the
many to the few." T h e attempt is being made to concentrate all power in the hands o!"
one individual. A most fearful measure is to be forced upon this country, by ipfan* • •!*
party discipline, in obedience to an Executive mandate. This is the fourth t i n e that
it has been urged upon Congress and upon the country, and it has been pursued and
persevered in, with a pertinacity, unbecoming the head of a great, magnanimous and
intelligent people. It is a system, which, in my judgment is fraught with the nm> imminent danger to the liberties of this great Republic- W h e n this measure was tiist
urged upon us* it met with little favor, even among its present most ardent admirers and
supporters. The history of our country does not present a parallel, to the extraordinary
means which have been resorted to by an unscrupulous administration, to force this
measure upon the country. It has been so obnoxious, so revolting to the good sense of
many of the supporters of this administration, that it has been three times rejected by
a n American Congress, a majority of whom were friends and supporters of the administration. In order to ensure the"success of this scheme of mad ambition, emanating
from a man, who never originated a single measure in his life, that was calculated to
benefit his country, whose whole life has been characterised by the most sheer selfishness,
the most unscrupulous means have been adopted.
Sir, the whole machinery of party lias been put in operation, and all the appliances of
a cunning and ambitious demagogue, have been brought into requisition, to carry into
effect a system, which will confer more power upon an American President, than was
ever conferred upon a crowned head in Europe. Y e s , sir, and I say it " more in sorrow
than in anger," members of congress have been cajoled, threatened, and even bribed
into the support of a measure, which was revolting to their principles, and which their
consciences and better judgment condemned. Yes. sir, more than one member of Con*ess, has been induced, at the sacrifice of principle, but in submission to the will of the
xecutive, to
" Crook the pregnant hinges of the knee,
S
T h a t thrift inigut follow tawrung."
u
Sir, men change, principles never." Some men change from interest or ambition ;
{'thcrs, from an honest conviction of error. T h e one should be avoided, despised and
contemned—the other should be sustained, encouraged and respected, by ail.
The country has yet been preserved from the blighting and withering influence of
this astounding scheme of the Executive, by means of a Spartan
band, who were
found iii the ranks of the administration, and who realized that they u h a d a country to
save as well as a party 10 serve-" Men who dared he honest and act like freemen,
uncontrolled by party machinery, una wed by Executive powers, and unsubdued by promises of reward—men who preferred the path of duty, of patriotism, and of honor, to
the allurements of office, or the triumphs of party. Those men will receive the plaudits of '* well done, good and faithful servants/' and their memories will live in the
grateful remembrance and affections of their countrymen, while those who have pursued and persecuted them with partisan vengeance" and hatred, will be consigned to
the shades of oblivion, or remembered only for their party servility. u
Oi-u. Jackson, on surrendering the Executive Chair remarked, that at the moment
vvWr/j 1 surrender my last public trust, I leave this great people prosperous and happy."
Aud will it be pretended that this is our conditio!? now ? No, sir. the ruinous experiments ';*•" this administration have spread suffering and devastation all over the land.
W e have been told, however, that there is no distress in the country. But this is not
t r u e ; aud I pity the ignorance of the man who does not know better. Look at your
sea hoard aud see your vessels rotting at your wharves, and your sailors without employment. Look at your manufactories where the hum of industry was once heard,
16
hut i* n o w hushed, and s e e them prostrate and d e c a y i n g . Look to your agricultir-- 1
ai«? mechanical interests, and see if they are prospering under the benign and f o s .
nt:z are and protection o f this G o v e r n m e n t ? A s k the farmer and manufacture
w)i'..se products are w a s t i n g upon their hands for w a n t o f a market—or t h e lafct
w h o i< vainly s e e k i n g e m p l o y m e n t , if there is no distress? T h e E x e c u t i v e h a s tx "
appealed to by his suffering countrymen to stay his rash and ruthless hand—to p u t end io his reckless and ruinous experiments. B u t the appeal has b e e n m a d e i n v a i n .
T h e a n s w e r h a s been, ' ; t h e people expect too much from the G o v e r n m e n t j " a n d UJL
der the cherished n a m e o f " democracy," h e asks more power.
H a v e the people ever asked for the passage of this bill ? N e v e r , S o far from it, sir
t h e people ot the " E m p i r e S t a t e , " w h i c h is the residence of that Senator, w h o h » b e e n the «; humble instrument" of the E x e c u t i v e , in forcing it upon the country, h«**«*
three t i m e s set their seal of condemnation upon it. S h e has already spoken in a vo*t
w h i c h cannot be m i s t a k e n ; and the next time s h e speaks, will carry dismay r ; +b
heart of her faithless Senator, and terror to the heart of her recreant and " r e j e c t e
son." Y e s , sir, the v o i c e of a large majority of the v o t e s of the unpurchased freeme^
of that State, w h i c h I a m proud to call m y o w n , will, the next time it shall be hearer
sound the political death-knell of the c* Northern m a n w i t h Southern principles,'" * t
teach her faithless Senator a lesson w h i c h he will n e v e r forget.
Sir, w e h a v e fallen upon evil times. W e are apparently in the midst of revolution
A nation w h i c h , but a short time since, w a s "prosperous and happy*" w i t h an o v e
flowing Treasury, is rising almost in m a s s to regain power, w h i c h nas been wrest'
from them in the n a m e of democracy. T h e y have been insultingly told to " take cr
of themselves, and that the Government would take care of itself"
T h e y h a v e takc^'
the Government al its w o r l . and determiner! to redress their o w n g r i e v a n c e s ; aud a
certain as the *4 i d e s of N o v e m b e r 7 shall c o m e , they will do so. U n d e r promises an
professions of economy, they have w i t n e s s e d the e x c e s s of extravagance and prodigalit*
Under professions of a just regard to the rights of the people, and the safety, welfare.
and prosperity of the country, they have s e e n the frontier portions of our country exposed to a foreign e n e m y and neglected—a total disregard to the improvement of otUJ
iiJirbors. and the security of navigation upon our inland seas—and individual, but n*eritorious claims, entirely disregarded. Jn the n a m e of democracy, they h a v e s e e n a'
most desperate grasp for unlimited power. T h e y have w i t n e s s e d an attempt to unite
the purse and the sword, of this great and powerful nation, in the hands of o n e m a n ;
and to accomplish this unholy purpose, they have s e e n a sovereign S t a t e disfranchised
and her representatives driven from this Ilall, and their violated and bleeding C o n s t i tution, consecrated by the blood of her noblest s o n s trampled in the dust. \ T h e y j
have seen the head ot one of the Departments, enjoying a salary of $ 6 0 0 0 «a*yea*rf
w h o has g r o w n rich at the e x p e n s e of the people, under the miserable pretrnefc that
*' the excitement produced by political writing* would improve his health," an/> t: *at h^
" poverty 57 required it, resign his office, abandon his salary, and b e c o m e a 4 b c r ^ /
mendicant," in order to insure the passage of this odious bill and to retain power, w h i c .
has long b e e n abused. T h e y have seen this u p r i n c e of ingratitude" b e c o m e .*.'* h««'
calumniator of every good m a n w h o dare oppose the d e s i g n s of an administrnti* ,! •»"
is literally festering in its o w n corruption. Y e s , sir, all these things and m a n y mor<
have a jealous, watchful, and confiding people s e e n w i t h the deepest solicitude ;.?i
alarm, and their slumbering energies h a v e been aroused to action. T h e conffc! § •
fearful o n e ; but stimulated by their sufferings, and impelled by every oblip * t • •>
duty, of honor, and of patriotism, they h a v e determined to buckle on their w
•• >*
inor and maintain those rights w h i c h \ v e r e secured to t h e m by the best Moot *f tb
Revolution. T h e day star of their hopes has risen in the W e s t to light them
^* r
torv, to happiness, and to glory.
@FedFRASER