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March 18, 1836.]
Senate on the protest was calculated for the meridian of could make the President their prisoner, and keep him that State, and spread over the three weeks that the in confinement witbout the right to legal release. In remaining elections had to continue; and during all that England there is but one instance of the House of Comtime a daily torrent of invective was poured upon his mons having declared the King to have violated the head, and language the most furious and contumelious privileges of Parliament, and that declaration was fol. was lavished upon him, exliibiting, perhaps, a degree lowed by civil war, and the eventual death of the King. of virulence, in the breasts of those who had just been It was the case of Charles the I., going in person to deacting as julges, never before witnessed in our America, mand the arrest of the five members, Hampden, Pym, never seen in England since the time that Jeffries rode Holles, Strowd, and Haslerig. The House of Comthe western circuit, and never seen in France before or mons voted the demand to be a violation of their since the time when the revolutionary tribunal sat in privileges, and that the violation of their privileges julgment upon the noblest spirits of the country, and was the overthrow of Parliament. Here are the called up, to be insulted at the bar, those whom it words of the resolve: “ That the violating the privileges dismissed to be derruncated on the scaffold. This scene of Parliament is the overthrow of Parliament;" and ended in ihe adoption of the resolution which will be acted accordingly, for the civil war immediately began, found at page 253 of the Senate journal for the session and ended, as every body knows, in the death of the of 1833-'34: “That the aforesaid protest is a breach of King. After voting that President Jackson had violated the privileges of the Senate, and that it be not entered their privileges, why not follow up the vote to do someon the journals."
thing in vindication of those privileges? Why not folA breach of their privileges! The attempt of the low out the judgment? If true, it ought to be enforced; President, after sentence pronounced upon him, to show if not true, it ought not to have been pronounced. that it ought not to have been pronounced, to be sol. Wag it sufficient that the Virginia elections were im. emnly voted to be a breach of the privileges of this pending, and that effect there would satisfy justice here? Senate!
What are, then, our privileges. Is it the This was twice in the same session that the President privilege of the Senate to condemn without hearing, and was pronounced guilty of criminal offences, and twice to insult whom it condemns? In the language of the permitted to go unpunished, by the gratuitous clem. Kentucky resolutions, is it their privilege to arraign the ency of his judges. Yes, sir, gratuitous clemency; public officer who may have committed a violation of pardon, without petition for mercy; for the man who the laws and constitution of the Union, and to fix an does not "stain the honor of his country by making an indelible stigma upon him, without the forms of trial or apology for speaking truth in the performance of duty," judicial proceedings? Is it their privilege to consume does not compromise the dignity of his species by im. the public treasure and the public time in investigating petrating pardons from judges who condemn without subjects not within their sphere? Is it their privilege hearing, and reject as insult a protestation of innoto violate the right to that fair and impartial trial which the constitution and the laws of the land have secured VII. Mr. B. took up his seventh and last proposition, to every citizen, in or out of office, whether triable by and read it. It was in these words: impeachment or at common law? Is it their privilege "And whereas the said resolve was introduced, de. to exhibit the example of a legislative body, before the bated, and adopted, at a time, and under circumstances, commencement of any prosecution, expressing an opin which had the effect of co-operating with the Bank of ion upon the guilt or innocence of an implicated indi- the United States in the parricidal attempt which that vidual, and thus subverting the fundamental principles institution was then making to produce a panic and of justice? More than alí, is it the privilege of the pressure in the country-10° destroy the confidence of Senate to try the President of the Uniied States upon the people in President Jackson-lo paralyze his admincharges put forth by the Bank of the United States, and istration--to govern the elections—to bankrupt the to use against him the fifty pages of accusation furnished State banks-ruin their currency-fill the whole Union by the bank, and not receive one word of defence offered with terror and distress, and thereby to extort from the by himself? Is it the privilege of the Senate to act as sufferings and alarms of the people the restoration of witnesses, prosecutors, and judges, in the same case? the deposites and the renewal or its charter." Is it their privilege to withdraw specifications from the In support of this proposition (said Mr. B.) I propose record, and retain them in the mind; to make a verdict to read, before I produce the direct proofs, the predicupon compromise, and to condemn the President with. tion which Mr. Jefferson made thirty years ago, and in out being able to tell for what? Is it their privilege to which he described to the life, and foretold to the let. receive petitions from one hundred and twenty thousand ter, the exact conduct of which the present Bank of the people, demanding the condemnation of the President, United States has just been guilty. and not hear one word from himself in vindication of his “ This institution is one of the most deadly hostility innocence? If these are the privileges of the Senate, existing againt the principles and the form of our constithen has the President violated those privileges by pro- tution. The nation is at this time so strong and united testing against them; if not, then has the Senate placed in its sentiments that it cannot be shaken at this moanother entry upon its journal which truth and justice ment; but suppose a series of untoward events to occur, would require to be taken off.
sufficient to bring into doubt the competency of a reMr. President, this condemnation of President Jack- publican Government to meet a crisis of great danger, son, for violating the privileges of the Senate, is a much or to unhinge the confidence of the people in the public more serious affair than would seem to persons not fa- functionaries; an institution like this, penetrating by its miliar with parliamentary law. It is a conviction for a branches every part of the Union, acting by command crime! for a crime which may affect the independence, and in phalanx, may, in a critical moment, upset the the existence, and the purity, of the body. It is a crime Government. I deem no Government safe which is for which the Senate has a right to punish the offender! under the vassalage of self-constituted authorities, or to take him into custody by the Sergeant-at-arms, to any other authority than that of the nation, or its regu. have him brought to the bar of the Senate, reprimand lar functionaries. What an obstruction could not this ed, imprisoned, or required to apologize. In cases of Bank of the United States, with all its branches, be in imprisonment, the party is not bailable, nor can he be re time of war! It might dictate to us the peace we should leased upon habeas corpus; so that here is a condemna accept, or withdraw its aids. Ought we, then, to give lion of the President, by virtue of which the Senate further growth to an institution so powerful, so hostile ?
(MARCA 18, 1836.
That it is so hostile we know; first, from a knowledge the House of Representatives; and by the fraternal re. of the principles of the persons composing the body of ception of the four members of the Finance Committee directors in every bank, principal or branch, and those of the Senate. of most of the stockholders; secondly, from their oppo. 3. The attacks upon the credit and currency of the sition to the measures and principles of the Government, State banks, the predictions of their insolvency, and the and to the election of those friendly to them; thirdly, efforts to make them so, were clear proof of the designs from the sentiments of the newspapers they support of the Bank of the United States to bankrupt these inNow, while we are strong, it is the greatest duty we owe stitutions, and to produce a scene of general insolvency to the safety of our constitution to bring this powerful throughout the Union. This attack was general, against enemy to a perfect subordination under its authorities; the whole six hundred banks in the country, but hottest, and the first measure would be to reduce them to an heaviest, and longest continued, against the banks, and equal footing only with other banks, as to the favors of especially the safety fund banks, of New York. The the Government.
heaviest artillery of the United States Bank press was Such was the prediction! the fulfilment took place directed against them, and at the same time the Bank in the winter of 1833-34, and we all beheld it. That of the United States was lauded, in its own publications, the Bank of the United States plotted and machinated as the only check to the corruption and political prethe panic and pressure then produced, is a fact that dominance of the safety fund system, and the Albany nobody doubts at present, and few deny. It was a plot regency which founded and directed it. The Quarterly against the Government and against the property of the Review, a periodical published under the eyes of the country. If proof was necessary to establish the fact, bank, and devoted to its interests, had publicly opened it could be had in a thousand ways, a few of which i the batteries upon these points, and carefully indicated will now briefly enumerate.
every separate point to the subaltern assailants. Here 1. There was no necessity for the pressure. This is are extracts from that journal, which attest this assertion, proved by the fact that the bank had made two cur. and show the true origin of all the assaults upon the tailments before the pressure, and had curtailed upwards name, character, institutions, and citizens of New York, of three millions more than she had lost by the removal which pervaded the Union, and particularly displayed of the deposites. The amount of deposites on the first themselves in this chamber during the whole panic of October was $9,868,435, of which $3,066,561' re. session. mained unremoved at the commencement of the pressure,
From the March number for 1831. and until it was over. The whole removal, then, was $6,798,874. To meet and cover this loss, the bank had ing was adopted for a state, by which, under the color
“Let us, for example, suppose that a system of bank. curtailed, by orders sent out in August, as soon as it knew the removal was to be made, the sum of $4,066,000; institutions were subjected to a surveillance and control,
of guarding the public against their insolvency, those and in October, the further sum of $5,825,000, making which were calculated to make them feel their depend$9,868,436, and being the full amount of all the deposites, and $22,500 over; so that, to repair a loss of matured, to make them obsequious to its will.
ance on the State Governments, and when this plan was
Would about six millions and three quarters, the bank had al. ready called in about nine millions and three quarters.
not every friend of the political purity of the State, and So well did the bank know that it had no excuse for
the independent spirit of its citizens, wish to see a
scheme of this character frustrated? And what means making a further curtailment on account of the removal
so conducive as the Bank of the United States?" of the deposites, that it did not dare to state that false. hood to its own branches, which knew the truth, but
From the March number for 1832. placed the third curtailment, which was ordered in “Besides these contrivances to consolidate the bank. January, and produced the pressure, wholly upon dif- ing system of that State into one great machine, a further ferent grounds, namely, “upon the new measures of concentration of power is obtained and vested in a few hostility understood to be in contemplation.” But what | individuals around the seat of Government, by means places this point beyond the power of guilt itself to l of that portion of the public revenue appropriated to the deny, is that ihe whole amount collected from the people redemption of the canal loans. This institution is in the during the pressure, and about $100,000 over, amount. hands of a few leading men of the prevailing party in ing in the whole to about $3,500,000, was remitted to that State;t and in the incorporating of the new banks, Europe, to lie idle in the hands of agents there, until for several years past, efforts have been made to provide long after the pressure was over.
in the distribution of stock for such as fraternize with 2. The parricidal nature of the bank attacks upon the them in political sentiment in the places where the new business, the prosperity, the confidence, and the com banks are located, so as in general to give to them a merce of the country, was proved by the universality of control over them. The consequence has been, that an its operations, and the system of its efforts in all parts of undue share of banking influence has been concentrathe country, at the same time. From Passamaquoddy ted in the hands of the dominant party, and they now bay to Attakapas creek, from the Dismal Swamp in Vir stand ready to control the banking system of the State, ginia to Boonslick in Missouri, every where that the or in case the United States Bank be not rechartered, bank had power to excite and disturb the country, the to take upon themselves the transaction of the exchange scene was the same. Shops and factories shut; wages business" reduced; workmen and day laborers dismissed; loans Mr. B. referred to the secret orders sent to the refused to business men, and granted to brokers; the branches in January, 1834, for the third curtailment, exchanges doubled at some points, and stopped at others; for corroboration of what he had said. They all set public meetings held; the President denounced for all out with a myterious annunciation of danger, without ihe mischief which the bank itself was perpetrating; telling what it was; but in two of those orders, the one committees sent on to petition Congress; itinerant orators
to the branch at Charleston and the other at New Oraddressing the people in the streets, and on tavern leans, this danger was distinctly shown to be political, steps, even on Sundays, to excite and exasperate the and to have reference to the overthrow of the adminispeople; the most alarming reports constantly put in cir. | tration, and that the pressure ordered at those points culation, the whole crowned by the great distress jubilee in the cow-yard at Powelton, in the purlieus of Philadel * The Albany regency.--Note by Mr. B. phia; by the insulting repulse of the select committee of | The aforesaid regency,--Note by Mr. B.
MARCH 18, 1836.]
was to cease the instant the catastrophe was effected. on the other the yet unbroken mind and heart of the Here is an extract from these two orders:
country, with the Senate and the bank; the House of “The state of things here is very gloomy, and unless Representatives, hitherto the instinctive champion of Congress takes some decided step to prevent the pro- freedom, shaken by the intrigues of the kitchen, hesigress of the troubles, they may soon outgrow our con. tates for a time, but cannot fail before long to break its trol. Thus circumstanced, our first duty is to the insti own fetters first, and then those of the country. In that tution, to preserve it from danger; and we are therefore quarrel, we predict they who administer the bank will anxious, for a short time at least, to keep our business shrink from no proper share which the country may as. within manageable limits, and to make some sacrifice sign to them. Personally, they must be as indifferent of profit to entire security. It is a moment of great in as any of their fellow.citizens to the recharter of the terest, and exposed to sudden changes in public affairs, bank; but they will not suffer themselves, nor the insti. which may induce the bank to conform its policy to tution intrusted to them, to be the instrument of private them. Of these dangers, should any occur, you will wrong and public outrage; nor will they omit any effort have early advice.” (Letter of Mr. Biddle to Mr. Mont to rescue the institutions of the country from being trodgomery, president of the New Orleans branch, dated den under foot by a faction of interlopers. To these January 24th, 1834.)
profligate adventurers, whether their power is displayed The next is to Mr. Johnson, president of the branch in the executive or legislative department, the directors at Charleston, South Carolina, dated the 30th January of the bank will, we are satisfied, never yield the thouThe passage is this:
sandth part of an inch of their own personal rights or “On the defeat of these attempts to destroy the their own official duties; and will continue this resistance bank depends, in our judgment, not merely the pecu- until the country, roused to a proper sense of its danniary interests, but the whole free institutions of our gers and its wrongs, shall drive these usurpers out of country; and our determination is, by even a temporary the high places they dishonor.". sacrifice of profit, to place the bank entirely beyond This public avowal of the design of the bank to upthe reach of those who meditate its destruction."
set the administration has been confirmed by subsequent Mr. B. said that these letters were as plain as such developments, and, since the Princeton address, may be communications could be expected to be; in letting these considered as the fixed and permanent policy of the inconfidential and distant branches, for none others re. stitution. In that address, the president of the bank ceived the same intimations, know that the bank was at thus holds forth: war with the Government; that great changes in public “Never desert the country; never despond over its
misfortunes. Confront its betrayers, as madmen are tending for the free institutions of the country; and made to quail beneath the stern gaze of fearless reason. meant to incur temporary sacrifices of property to incur They will denounce you. Disregard their outcries; it them; and that as soon as the changes took place, that is only the scream of the vultures whom they scare from is to say, as soon as the administration was overthrown, their prey. They will seek to destroy you. Rejoice these distant branches should be informed of it, and the that your country's enemies are yours. You can never bank would conform its policy to the change; that is to fall more worthily than in defending her from her own say, would stop the pressure, and pour out its money in degenerate children. If overborne by this tumult, and loans and accommodations, in support of the party iliat the cause seems hopeless, continue self-sustained and overthrew the tyrant. This is the literal and fair inter- self-possessed. Retire to your fields, but look beyond pretation of the letters; and if any body wishes for more them. Nourish your spirits with meditation on the . evidence to convince them of the wantonness and mighty dead who have saved their country. From your wickedness of the curtailment at New Orleans, where it own quiet elevation, watch calmly this survile route, as was so heavy, and where so much mischief was done to its triumph sweeps before you. The avenging hour will merchants and traders, and to the produce of the upper at last come. It cannot be that our free nation can long country, it can be found in the fact that the bank ship- endure the vulgar dominion of ignorance and profligacy. ped off to Europe, immediately, the whole amount it You will live to see the laws re-established; these bane curtailed, to lie in Europe undrawn for until tong after ditti will be scourged back to their caverns; the peni. the panic was over.
tentiary will reclaim its fugitives in office, and the only That the design of this bank was to unhinge the confi- remembrance which history will preserve of them is the dence of the people in their public functionaries, and to energy with which you resisted and defeated them.” upset the Government, was proved not only by the fero The levity and Aippancy with which the pressure was city of the warfare carried on against the President, and abandoned by the bank in Philadelphia, without giving the House of Representatives which stood by him, and notice to its friends in the Senate, was a circumstance on by the plaudits showered upon the Senate which was at. which Mr. B. dwelt at large, not only to show the wantacking him, but by the express declarations and osten tonness of the pressure, but the insolence of the bank tatious proclamations of the bank itself; for to such a pitch towards its friends and champions. He wished to recall of unparalleled audacity was the impudence of that in to the recollection of the Senate the scene of Friday, the stitution carried by its confidence in its own moneyed the 27th day of June, in the year of the panic session. power, and the co-operative effect of the Senate's con It was a day of beavy presentation of distress memorials, duct, that, far from denying, it boasted and gloried in its and great delivery of distress speeches. It was one of determination to drive the usurper, interloper, and prof. the most alarming days which the panic bad produced. ligate adventurer, as the President was called, from the It seemed to be a rally for the last final effort. Never high place which he dishonored. Here is one of these did the alarm guns fire quicker, the tocsin ring louder, declarations, issued by the president of the bank himself, or the distress flag float higher, than on that day. The and published in the organ of the bank, the Pbiladelphia speeches which ushered in the distress memorials might National Gazette:
be lost, or imperfectly reported; but a statement of ine “ The great contest now waging in this country is memorials is preserved upon the journal, and from that between its free institutions and the violence of the vul source I will read them to the Senate. gar despotism. The Government is turned into a bane Mr. B. then read from the journal of Friday, the 27th ful faction, and the spirit of liberty contends against it of June, 1834: throughout the country. On the one hand is ihis mis " Mr. Hendricks presented the petition of upwards erable cabal, with all the patronage of the Executive; of 500 citizens of Marion county, Indiana, disapproving
[MARCH 18, 1836.
the removal of the public deposites, and praying a re. Finance Committee made a report in favor of the bank, charter of the Bank of the United States."
and which will be relied upon to prove its innocence of “Mr. Ewing presented the memorial of 103 citizens every thing laid to its charge; but I know also that the of Harrison township, Piqua county, Ohio, disapproving report was incorrect in its views, mistaken in facts and the removal of the public money from the Bank of the in law, partial to the bank, unjust to the President, and United States, and in favor of a national bank."
to the House of Representatives, and to Mr. Taney, in“Mr. Tomlinson presented the memorial of the cit- jurious to the people, and dangerous to their rights and izens of Newtown, Fairfield county, Connecticut, prayliberties. I know this to be the character of that report, ing, as the only remedy for existing evils, that the pub. for I studied it well, and made a motion at the last seslic money may be restored to the Bank of the United sion to recommit it, that I might have an opportunity of States, and that the bank may be rechartered with suit showing what it was. That motion was laid upon the able modifications.”
table by the friends of the bank, and I was precluded “ Mr. Clay presented the memorial of 170 citizens of from making my exposition of its errors and infirmities; York county, Pennsylvania, praying, as the only means of but what I was unable to do then I am able to do now; and restoring public and private credit, that the public money if any one member of that committee shall dissent from may be restored to the Bank of the United States, and the judgment I have now pronounced upon their work, that that bank may be rechartered with suitable modifi- I hold myself bound and ready to make it good, and cations."
even to show that I have spoken in terms of limited cen“He presented the proceedings and resolutions adopt- sure and of subdued moderation in respect to it. The ed at a meeting of the citizens of Butler county, Penn- gentleman who was the organ of the report (Mr. TILER] sylvania, opposed to all the acts of the executive in re
is no longer here; but three members of the committee lation to the public money and the Bank of the United remain to defend their work; and we all remember that States, and in favor of rechartering that bank.”
it was announced at the time that the committee were “He presented the memorial of 700 citizens of Ma- unanimous in that report. son county, Kentucky, remonstrating against the acts of That it was the misfortune of the Senate so to act, dui the Executive in relation to the public money and the ring all this frightful scene, as to have the effect of coBank of the United States, as a usurpation of power, operating with the Bank of the United States, it is now and dangerous to the liberties and happiness of the peop my duty to show. With motives or intentions I bare ple, and praying for its restoration, and a recharter of nothing to do; I deal with acts alone; and limiting my. the bank."
self to the most subdued style of historical narrative, I Such were the memorial presented on Friday, the proceed to enumerate the leading points which give to 27th day of June, accompanied by the usual lamenta. the Senate's conduct the fatal aspect of a co-operation tions over the ruin of the country, and the usual commis with the Bank. eration for the hard fate of the bank, and the usual reit. 1. The nature and specifications of the charges pre. eration of the impossibility of relieving the distress until ferred by the Senate against the President; being the the deposites were restored, or the charter renew. same which the bank bad previously set forth in all the ed. Such was the scene going on in this chamber; wewspapers engaged in ils interest; and in that famous while on the same identical day, and, peradventure, in manifesto of which I have given the origin and read the same hour, the bank, calm as a summer's morning, some parts. was quietly adopting a resolve to put an end to the game, 2. The arguments used by Senators in support of to cease curtailing, to restore exchanges, to loan five or these charges; being the same which had been previ. ten million of dollars, to make money plenty, and to ously used by the bank in all its publications, and espeexpand its currency with more rapidity than it had ever cially in that authentic manifesto. contracted it. The resolve was adopted at the board, 3. The adoption of all these speeches and reports by and the result communicated to the New York mer. the bank; about eight hundred thousand copies of which chants with that Alippant levity which discriminates one are ascertained to have been paid for out of the corpo. branch of the bank school from the ponderous verbosity rate funds of the institution (costing about $26,250) and of the other. The communication, in the lightest style distributed under the frank of members of Congress of an unimportant note, stated that Congress was about friendly to the bank, into every quarter and corner of to rise without doing any thing for the relief of the coun. the Union, try; so the bank would relieve the country itself, and 4. In the identity of action on the fears and passions immediately commenced loaning and expanding with all of the community, by alarm meetings got up by the bank, possible rapidity. And so ended the agony of six months; and alarm speeches delivered in the Senate. ihe light and Alippant conclusion of the panic, being in 5. In the manner of treating the petitions against the exact proportion to the audacity of its conception President which were got up by the bank and sent to and the ferocity of its execution. So true were the the Senate, the whole of which were received with emwords of President Jackson, who constantly told the dis- pbatic distinctions, read at the table, applauded, resertress committees to go back to Mr. Biddle, that he red, printed, laid away among the archieves, and trans, could relieve them at any hour that he pleased! But mitted to distant posterity in the numerous volumes of wbat are we to think of the insolence of this institution; our public documents. its contemptuous indifference to its friends in the Senate, 6. In the concurrence of time in the periods of com. to let them continue to go on in the old strain, singing 10 mencing operation in the Senate and in the bank, the the old tune, and repeating that eternal ditty, " that the resolution for condemning the President having been removal of the deposites made the distress, and nothing brought in on the last days of December, and the wocould relieve the distress but the restoration of the de- and-iwenty orders for making the curtailment and pres. posites or the renewal of the charter," and thus expo. sure having issued from the bank in the January follow. sing themselves to ridicule in the Senate, at the very ing. moment that the bank, throwing off all disguise, and 7. In the concurrence of time in the periods of termi. appearing in her true condition, bids adieu to the panic, nating the operations in each case, and the conformity makes a laugh at the whole afl'air, and goes on to run of these terminations to the occurrence of elections in up its loans and circulation to the highest amount that New York and Virginia; the Senate baving reached the the country would take.
end of its process on the 28th of March, the bank eur. I know, Mr. President, that the four members of our tailment baying attained its maximum on the tbe first of
March 18, 1836.]
days of April, and the elections occurring at the same for it is incontestable that the bank began the whole period.
affair; the little book of fifty pages proves that. The 8. In the long neglect to act upon the nominations of bank began it; the bank followed it up; the bank attends Government directors for the Bank of the United to it now. It is a case which might well be entered on States, and the eventual rejection of all those denoun our journal as a State is entered against a criminal in the ced by the bank, whereby the people of the United docket of a court: The Bank of the United States versus States were deprived of the lawful share of representa President Jackson; on impeachment for removing the tion at the board of the bank during the period of the deposites. The entry would be justified by the facts, panic and pressure.
for these are the indubitable facts. The bank started 9. In the rejection of Mr. Taney for the office of the the accusation; the Senate took it up. The bank fur. Secretary of ihe Treasury, after the specification of the nished arguments; the Senate used them. The bank illegality of his appointment had been withdrawn, and excited meetings; the Senate extolled them. The bank after Senators had thus deprived themselves of their own sent deputations; Senators received them with honor. argument for rejecting him.
The deputations reported answers for the President which 10. In the manner of receiving the plaudits of the he never gave; the Senate repeated and enforced these friends of the bank in the galleries of the Senate, for answers. Hand in hand throughout the whole process, whatever was most offensive to the President and most the bank and the Senate acted together, and succeeded honorable to the bank.
in getting up the most serious and afflicting panic ever 11 In the peregrinations and harangues of Senators known in this country. The whole country was agitated. who visited cities and traversed States, making speeches Cities, towns, and villages, the entire country, and the to multitudes, declaiming against the President and laud whole earth, seemed to be in commotion against one ing the bank.
man. A revolution was proclaimed! the overthrow of 12. In the unity, energy, and perseverance of the at all law was announced! the substitution of one man's tack, in the Senate and at the bank, upon the credit and will for the voice of the whole Government was daily currency of the State banks, and especially of the State asserted! the public sense was astounded and bewilder. of New York, and above all, of the safety fund banks. ed with dire and portentous annunciations! In the midst
13. In the illegal and unparliamentary appointment of of all this machinery of alarm and distress, many good the standing Finance Committee of the Senate to visit citizens lost their reckoning; sensible heads went wrong, and examine the Bank of the United States, after the stout hearts quailed, old friends gave way, temporizing legal and parliamentary committee of the House of Repo counsels came in, and the solitary defender of his counresentatives had been repulsed; the said committee con try was urged to yield! Oh, how much depended upon sisting of the exclusive friends of the bank in its con that one man at that dread and awful point of time!' If troversy with the President, and its public advocates on he had given way then, all was gone! An insolent, rapathe identical points most requiring examination.
cious, and revengeful institution would have been install. 14. In laying on the table my resolution for recommit- ed in sovereign power. The federal and State Governting the report of that committee, whereby I was pre ments, the Congress, the Presidency, the State Legislavented from showing the illegal and unparliamentary tures, all would have fallen under the dominion of the constitution of that committee, the partiality of its con bank; and all departments of the Government would duct to the bank, the injustice of its report to the Presi- have been filled and administered by the debtors, pendent, to Mr. Taney, and to the country; and its manifold sioners, and attorneys of that institution. He did not mistakes and errors of law and of fact, to the preju- yield, and the country was saved. The heroic patriot. dice of the country and to the advantage of the bank. ism of one man prevented all this calamity, and saved
The condemnation of the President, combining as it the republic from becoming the appendage and fief of a did all that illegality and injustice could inflict, had the moneyed corporation. And what has been his reward? further misfortune to be co-operative in its effects with So far as the people are concerned, honor, gratitude, the conspiracy of the Bank of the United States to effect blessings, everlasting benedictions; so far as the Senate the most wicked universal scheme of mischief which the is concerned, dishonor, denunciation, stigma, infamy. annals of modern times exhibit. It was a plot against And shall these two verdicts stand? Shall our journal the Government, and against the property of the coun. bear the verdict of infamy, while the bearts of the peotry. The Government was to be upset, and properly ple glow and palpitate with the verdict of honor? revolutionized. Six hundred banks were to be broken, President Jackson has done more for the human race the general currency ruined, myriads bankrupted, all than the whole tribe of hack politicians put together, business stopped, all property sunk in value, all confi. and shall be remain stigmatized and condemned for the dence destroyed! that out of this wide-spread ruin and most glorious action of his life? The bare attempt to pervading distress the vengeful institution might glut its stigmatize Mr. Jefferson was not merely expunged, but avarice and ambition, trample upon the President, take cut out from the journal, so that no trace of it remains possession of the Government, reclaim its lost deposites, upon the Senate records. The designs are the same in and perpetuate its charter. These crimes, revolting both cases; but the aggravations are inexpressibly greatand frightful in themselves, were to be accomplished by er in the case of President Jackson. Referring to the the perpetration of a whole system of subordinate and journals of the House of Representatives for the characsubsidiary crime! the people to be deceived and exci- ter of the attempt against President Jefferson, and the ted; the President to be calumniated; the effects of the reasons for repulsing it, and it is seen that the attempt bank's own conduct to be charged upon him; meetings was to criminate Mr. Jefferson, and to charge him upon got up; business suspended; distress deputations organ- | the journals with a violation of the laws; and that this ized; and the Senate chamber converted into a theatre attempt was made at a time, and under circumstances, for the dramatic exbibition of all this fictitious wo. insidiously calculated to excite unjust suspicion in the That it was the deep and sad misfortune of the Senate minds of the people against the Chief Magistrate. Such so to act as to be co-operative in all this scene of mis was precisely the character of the charge, and the effect chief is too fully proved by the facts known to admit of the charge, against President Jackson, with the differof denial. I speak of acts, not of motives. The effect ence only that the proceeding against President Jackson of the Senate's conduct in trying the President and was many ten thousand times more revolting and aggrauttering alarm speeches was to co-operate with the bank, vated; commencing as it did in the bank, carried on by and that secondarily, and as a subordinate performer; la violent political party, prosecuted to sentence and