Advantages of a Gold Currency

8 if Southern products—and affirthed his conscientious belief, that the country was more prosperous at this time than at any period o f its existence; and inveighed in terms of strong indignation against the arts and artifices, which, for the last six months, had disturbed and agitated the country, and done serious mischief to many .individuals. He regretted the miscarriage of the attempt to examine the Bank of the United .States, which would have completed the proof against that institution for its share in getting up an unnatural and factitious scfene of distress, in the midst of real prosperity. Blit he did hotlimit his invective to the Bank, but tame directly to the Senate, and charged a full shale upon the theatrical distress speeches, delivered upoh the floor of the Senate, in imitation of Volney’s soliloquy over the ruins of Pal- myra. Ho repeated some passages from the most affecting of these lamentations over the desolation of the country, such as the Senate had been accustom- ,ed to hear about the time of the Ne w-York elections. ■“ The canal a solitude. The lake a desert waste of waters' That populous city, lately resounding with the hum of busy multitudes^now silent and sad'. A whole nation., in the midst of Unparalleled prosperity, and Arcadian felicity, suddenly struck into poverty, and plunged into unutterable woe, by the direful act of one wilful Man.” Such, said Mr. B., were the lamentations Over the ruins, not of the Tadmor in the desert, but of this America, whose true condition you have just Seen exhibited in the faithful report of the Secretary of the Treasury. Not even the “base- less fabric of a vision," was ever more destitute of foundation, than those lamentable accounts of desolation. The lamentation has ceased ; the panic has gone off; would to God he could follow out the noble line of thepoet, and say, “leaving not a wreck .behind?' But he could not say that. There were wrecks! wrecks of merchants in every city, in which the Bank tried its cruel policy, and wrecks of Banks jn this District, where the panic speeches fell tbick- .est and loudest upon jhe ears .of an astonished and .terrified community! But, continued Mr. B.,the game is up;the alarm is over; the people are tired of it; the agitators have .Jbeased to. work the engine of alarm. A. month ago .he had sad it was “ the last of pea-time," with these .distress memorials; he would now use a bolder figure, and say, that the Secretary’s report just read,-had .expelled forever the ghost of alarm from the chamber (of the Senate. All ghosts, said Mr. B., are.afraid of .the light. The crowing of the cock,—the break Of,—remits them all, the whole shadowy tribb; to .their dark and dreary abode. How then can this poor ghost of alarm, which has done such hard service for six months past, how can it stand the full light, the broad, glare, the .clear sunshine of the ■'Secretary’s report ? Alas, poor ghost !” The shade of the “ noble Dane” never quit the stage under a .more inexorable law than the one which now drives thee away. This fepOrt, replete with plain facts ‘and luminous truths, puts to flight the apparition of ’distress, breaks do wn the whole machinery of alarm, and proves that the American people are, at bhisday, .the most prosperous people on which the beneficent .Sun of Heaven did ever shine! • - Mr. B. congratulated himself that the spectre of .’distress could never be,made to cross the Mississippi. Jt made but slow progress anywhere in the Great Valley ; but baulked at the King of Floods. A lettbf from St. Louis informed him that an attempt had jhst been -made to get up a -distress meeting at St. Louis, hilt without effect. The officers were obtained, and according to the approved rule of such meetings, they were converts from Jacksonism ; but there the distress proceedings stopped, and took another turn. The farce cbuld ribt be played in that town. The actors would hbt mount the stage. * * Abo.ut the same time a similar failure took place at Crawfordsville, Indiana. Mr. B. spoke of the circulation of the Bank of the United Stated; and said that its notes might be Withdrawn without being felt of known by the community. It contributed but four millions and a quarter to the circulation at this time. He verified this statement by showing that the Bank had twelve millions and a quarter of specie in its vaults, and but sixteen millions and a half of notes in circulation. The difference was four millions and a quarter; and that was the precise amount which that gigantic in. stitution now contributed to the circulation of the country! Only four millions and a quarter. If the Gold Bill passed, and raised gold 16 to 1, there would be more than that amount of gold in circulation in three months. The Foreign Coin Bill, and the Gold Bill, would give the country many dollars in specie, without interest, for each paper dollar Which the Bank issues, and for which the country pays so dearly. The dissolution of the Bunk would tuj n out twelve mflliohs and a quarter of specie, to circulate among the people; and the Sooner that is done the better it will be for the bountfy. The Bank' is now a nuisance,, said Mr. B. With upwards of twelve millions in specie, apd less than seventeen millions in circulation, and only.fifty-two millions of-loans, it pretends that it cannot lend a dollar, not even to business men, to be returned in sixty days ; when, two years ago, with only six millions of specie and twenty-two millions of circulation, it run up its loans to seventy millions. The Pre. sident.of the Bank then swore that all above six millions of specie was a surplus! How is it now, with pear double as much specie, and five millions less of notes out, and twelve millions less of debt? The Bank needs less specie than any other Banking institution, because its notes are receivable, by law, in all federal payments; and from that circumstance alone would be current, at par, although the Bank itself might be wholly unable to redeem them. Sjichsa Bank is a nuisance. It is the dog in thej inanger. It might lend money to business men, .at short dates, to the last day of existence; yef the feigns are for a new pressure ; a new game of difek tress for the fall elections in Pennsylvania, New York, and Ohjo. If that game should be attempted, Mr. B- said, it would have to he done without ex. cuse, for the Bank was full of mopey ; without pre. text, for the deposite farce is over. ; without the aid of panic-speeches, for the Senate will not be in ses. sion. Mr. B. said, that among.the strange events which took place in this world, nothing could be inbre strange than td find, in our own country, and in the 19th century, any practical illustration of the an- sient doctrine of the metempsychosis. Stranger still, if ^that doctrine should be so far improved * as