Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850Benton, Thomas Hart
History
Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850
Benton, Thomas Hart
United States -- Politics and government -- 1815-1861
State legislatures may sanction the stoppage, withhold the
poor right of suing, and thus interpose their authority between the
federal government and its revenues. This has already happened, not
in hostility to the government, but in protection of themselves;
and the consequence was the same as if the intention had been
hostile. It was interposition between the federal government and
its depositories; it was deprivation of revenue; it was an act the
recurrence of which should be carefully guarded against in future.
This is what we have seen; this is a danger which we have just
escaped; and if these banks shall be continued as depositories of
public money, or, which is just the same thing, if the government
shall continue to receive their "paper promises to pay," the same
danger may be seen again, and under far more critical circumstances.
A similar stoppage of the banks may take place again--will
inevitably take place again--and it may be when there is little
specie in the country, or when war prevails. All history is full of
examples of armies and navies revolting for want of pay; all history
is full of examples of military and naval operations miscarried
for want of money; all history is full of instances of governments
overturned from deficits of revenue and derangements of finances.
And are we to expose ourselves recklessly, and with our eyes open,
to such dangers? And are we to stake the life and death of this
government upon the hazards and contingencies of banking--and of
such banking as exists in these United States? Are we to subject
the existence of this government to the stoppages of the banks,
whether those stoppages result from misfortune, improvidence, or bad
faith? Are we to subject this great and glorious political fabric,
the work of so many wise and patriotic heads, to be demolished in
an instant, and by an unseen hand? Are we to suffer the machinery
and the working of our boasted constitution to be arrested by a
spring-catch, applied in the dark? Are men, with pens sticking
behind their ears, to be allowed to put an end to this republic? No,
sir! never. If we are to perish prematurely, let us at least have a
death worthy of a great nation; let us at least have a field covered
with the bodies of heroes and of patriots, and consecrated forever
to the memory of a subverted empire. Rome had her Pharsalia--Greece
her Chæronca--and many barbarian kingdoms have given immortality to
the spot on which they expired; and shall this great republic be
subjected to extinction on the contingencies of trade and banking?
Public-domain text, read in full here on John Shaqi.
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