Speeches And Forensic Arguments 3

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Speeches And Forensic Arguments 3
Webster Daniel
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The banks had BBcmey to lend^ and there wece enough who were ready to borrow, 168 for the puq>ose of purchasiog the public lands at government prices.
The public trvasurt was thus made the great and sm- CIEIIT MEANS Or ETFECTINO THOSE PURCHASES WHICH HATE SINCE BEEN SO MUCH DENOUNCED AS EXTRAVAGANT SPECULATION AND EXTENSIVE MONOPOCT. ThESE PURCHASERS BORROWED THE PUBLIC MONET ; THET USED THE PUBLIC MONET TO BUT THE PUBLIC PROPERTT ; THET SPECULATED ON THE STRENGTH OF THE PUBLIC MONET ; — and wh
...ile all this was going on, and every man saw it, the admimstraiion resittedy to the utmost of its power, every attempt to WITHDRAW THIS MONET FROM THE BANKS AND FROM THE HANDS OF THOSE SPECULATORS, AND DISTRIBUTE IT AMONG THE PEOPLE TO WHOM rr BELONGED. If there has been overtrading, the gov- ernment has encouraged it ; if there have been rash speculations in the public lands, the GOVERNMENT HAS FURNISHED THE MEANS OUT OF THE TREASURY. These unpre- cedehted sales of the public domain were boasted of as proofs of a happy state of things, and^of a wise administration of the govern- ment, down to the moment when Congress, in opposition to execu- tive wishes, passed the distribution law, thus withdrawing the surplus revenue from the deposit banks.

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