From the moment of the removal of the deposits, it was seen that the plan of the Bank of the United States was to force their return, and with it a renewal of its charter, by operating on the business of the country and the alarms of the people. For this purpose, loans and accommodations were to cease at the mother bank and all its branches, and in all the local banks over which the national bank had control; and at the same time that discounts were stopped, curtailments were made; and all business men called on for the payment of all they owed, at the same time that all the usual sources of supply were stopped. This pressure was made to fall upon the business community, especially upon large establishments employing a great many operatives; so as to throw as many laboring people as possible out of employment. At the same time, politicians engaged in making panic, had what amounts they pleased, an instance of a loan of $100,000 to a single one of these agitators, being detected; and a loan of $1,100,000 to a broker, employed in making distress, and in relieving it in favored cases at a usury of two and a half per centum per month. In this manner, the business community was oppressed, and in all parts of the Union at the same time: the organization of the national bank, with branches in every State, and its control over local banks, being sufficient to enable it to have its policy carried into effect in all places, and at the same moment. The first step in this policy was to get up distress meetings—a thing easily done—and then to have these meetings properly officered and conducted. Men who had voted for Jackson, but now renounced him, were procured for president, vice-presidents, secretaries, and orators; distress orations were delivered; and, after sufficient exercise in that way, a memorial and a set of resolves, prepared for the occasion, were presented and adopted. After adoption, the old way of sending by the mail was discarded, and a deputation selected to proceed to Washington and make delivery of their lugubrious document. These memorials generally came in duplicate, to be presented, in both Houses at once, by a senator from the State and the representative from the district. These, on presenting the petition, delivered a distress harangue on its contents, often supported by two or three adjunct speakers, although there was a rule to forbid any thing being said on such occasions, except to make a brief statement of the contents. Now they were read in violation of the rule, and spoke upon in violation of the rule, and printed never to be read again, and referred to a committee, never more to be seen by it; and bound up in volumes to encumber the shelves of the public documents. Every morning, for three months, the presentation of these memorials, with speeches to enforce them, was the occupation of each House: all the memorials bearing the impress of the same mint, and the orations generally cast after the same pattern. These harangues generally gave, in the first place, some topographical or historical notice of the county or town from which it came—sometimes with a hint of its revolutionary services—then a description of the felicity which it enjoyed while the bank had the deposits; then the ruin which came upon it, at their loss; winding up usually with a great quantity of indignation against the man whose illegal and cruel conduct had occasioned such destruction upon their business. The meetings were sometimes held by young men; sometimes by old men; sometimes by the laboring, sometimes by the mercantile class; sometimes miscellaneous, and irrespective of party; and usually sprinkled over with a smart number of former Jackson-men, who had abjured him on account of this conduct to the bank. Some passages will be given from a few of these speeches, as specimens of the whole; the quantity of which contributed to swell the publication of the debates of that Congress to four large volumes of more than one thousand pages each. Thus, Mr. Tyler of Virginia, in presenting a memorial from Culpeper county, and hinting at the military character of the county, said:

"The county of Culpeper, as he had before observed, had been distinguished for its whiggism from the commencement of the Revolution; and, if it had not been the first to hoist the revolutionary banner, at the tap of the drum, they were second to but one county, and that was the good county of Hanover, which had expressed the same opinion with them on this all-important subject. He presented the memorial of these sons of the whigs of the Revolution, and asked that it might be read, referred to the appropriate committee, and printed."

Mr. Robbins of Rhode Island, in presenting memorials from the towns of Smithfield and Cumberland in that State:

"A small river runs through these towns, called Blackstone River; a narrow stream, of no great volume of water, but perennial and unfailing, and possessing great power from the frequency and greatness of its falls. Prior to 1791, this power had always run to waste, except here and there a saw mill or a grist mill, to supply the exigencies of a sparse neighborhood, and one inconsiderable forge. Since that period, from time to time, and from place to place, that power, instead of running to waste, has been applied to the use of propelling machinery, till the valley of that small river has become the Manchester of America. That power is so unlimited, that scarcely any limitation can be fixed to its capability of progressive increase in its application. That valley, in these towns, already has in it over thirty different establishments; it has in it two millions of fixed capital in those establishments; it has expended in it annually, in the wages of manual labor, five hundred thousand dollars; it has in it one hundred thousand spindles in operation. I should say it had—for one half of these spindles are already suspended, and the other half soon must be suspended, if the present state of things continues. On the bank of that river, the first cotton spindle was established in America. The invention of Arkwright, in 1791, escaped from the jealous prohibitions of England, and planted itself there. It was brought over by a Mr. Slater, who had been a laboring manufacturer in England, but who was not a machinist. He brought it over, not in models, but in his own mind, and fortunately he was blessed with a mind capacious of such things, and which by its fair fruits, has made him a man of immense fortune, and one of the greatest benefactors to his adopted country. There he made the first essays that laid the foundation of that system which has spread so far and wide in this country, and risen to such a height that it makes a demand annually for two hundred and fifty thousand bales of cotton—about one fourth of all the cotton crop of all our cotton-growing States; makes for those States, for their staple, the best market in the world, except that of England: it was rapidly becoming to them the best market in the world, not excepting that of England; still better, it was rapidly becoming for them a market to weigh down and preponderate in the scale against all the other markets of the world taken together. Now, all those prospects are blasted by one breath of the Executive administration of this country. Now every thing in that valley, every thing in possession, every thing in prospect, is tottering to its fall. One half of those one hundred thousand spindles are, as I before stated, already stopped; the other half are still continued, but at a loss to the owners, and purely from charity to the laborers; but this charity has its limit; and regard to their own safety will soon constrain them to stop the other half. Five months ago, had one travelled through that valley and witnessed the scenes then displayed there—their numerous and dense population, all industrious, and thriving, and contented—had heard the busy hum of industry in their hours of labor—the notes of joy in their hours of relaxation—had seen the plenty of their tables, the comforts of their firesides—had, in a word, seen in every countenance the content of every heart; and if that same person should travel through the same valley hereafter, and should find it then deserted, and desolate, and silent as the valley of death, and covered over with the solitary and mouldering ruins of those numerous establishments, he would say, 'Surely the hand of the ruthless destroyer has been here!' Now, if the present state of things is to be continued, as surely as blood follows the knife that has been plunged to the heart, and death ensues, so surely that change there is to take place; and he who ought to have been their guardian angel, will have been that ruthless destroyer."

And thus Mr. Webster, in presenting a memorial from Franklin county, in the State of Pennsylvania:

"The county of Franklin was one of the most respectable and wealthy in the great State of Pennsylvania. It was situated in a rich limestone Valley, and, in its main character, was agricultural. He had the pleasure, last year, to pass through it, and see it for the first time, when its rich fields of wheat and rye were ripening, and, certainly, he little thought then, that he should, at this time have to present to the Senate such undeniable proofs of their actual, severe and pressing distress. As he had said, the inhabitants of Franklin county were principally agriculturists, and, of these, the majority were the tillers of their own land. They were interested, also, in manufactures to a great extent; they had ten or twelve forges, and upwards of four thousand persons engaged in the manufacture of iron, dependent for their daily bread on the product of their own labor. The hands employed in this business were a peculiar race—miners, colliers, &c.—and, if other employment was to be afforded them, they would find themselves unsuited for it. These manufactories had been depressed, from causes so well explained, and so well understood, that nobody could now doubt them. They were precisely in the situation of the cotton factories he had adverted to some days ago. There was no demand for their products. The consignee did not receive them—he did not hope to dispose of them, and would not give his paper for them. It was well known that, when a manufactured article was sent to the cities, the manufacturer expected to obtain an advance on them, which he got cashed. This whole operation having stopped, in consequence of the derangement of the currency, the source of business was dried up. There were other manufactories in that county that also felt the pressure—paper factories and manufactories of straw paper, which increased the gains of agriculture. These, too, have been under the necessity of dismissing many of those employed by them, which necessity brought this matter of Executive interference home to every man's labor and property. He had ascertained the prices of produce as now, and in November last, in the State of Pennsylvania, and from these, it would be seen that, in the interior region, on the threshing floors, they had not escaped the evils which had affected the prices of corn and rye at Chambersburg. They were hardly to be got rid of at any price. The loss on wheat, the great product of the county, was thirty cents. Clover seed, another great product, had fallen from six dollars per bushel to four dollars. This downfall of agricultural produce described the effect of the measure of the Executive better than all the evidences that had been hitherto offered. These memorialists, for themselves, were sick, sick enough of the Executive experiment."

And thus Mr. Southard in presenting the memorial of four thousand "young men" of the city of Philadelphia:

"With but very few of them am I personally acquainted—and must rely, in what I say of them, upon what I know of those few, and upon the information received from others, which I regard as sure and safe. And on these, I venture to assure the Senate, that no meeting of young men can be collected, in any portion of our wide country, on any occasion, containing more intelligence—more virtuous purpose—more manly and honorable feeling—more decided and energetic character. What they say, they think. What they resolve they will accomplish. Their proceedings were ardent and animated—their resolutions are drawn with spirit; but are such as, I think, may be properly received and respected by the Senate. They relate to the conduct of the Executive—to the present condition of the country—to the councils which now direct its destinies. They admit that older and more mature judgments may better understand the science of government and its practical operations, but they act upon a feeling just in itself, and valuable in its effects, that they are fit to form and express opinions on public measures and public principles, which shall be their own guide in their present and future conduct; and they express a confident reliance on the moral and physical vigor and untamable love of freedom of the young men of the United States to save us from despotism, open and avowed, or silent, insidious, and deceitful. They were attracted, or rather urged, sir, to this meeting, and to the expression of their feelings and opinions, by what they saw around, and knew of the action of the Executive upon the currency and prosperity of the country. They have just entered, or are about entering, on the busy occupations of manhood, and are suddenly surprised by a state of things around them, new to their observation and experience. Calamity had been a stranger in their pathway. They have grown up through their boyhood in the enjoyments of present comfort, and the anticipations of future prosperity—their seniors actively and successfully engaged in the various occupations of the community, and the whole circle of employments open before their own industry and hopes—the institutions of their country beloved, and their protecting influence covering the exertions of all for their benefit and happiness. In this state they saw the public prosperity, with which alone they were familiar, blasted, and for the time destroyed. The whole scene, their whole country, was changed; they witnessed fortunes falling, homesteads ruined, merchants failing, artisans broken, mechanics impoverished, all the employments on which they were about to enter, paralyzed; labor denied to the needy, and reward to the industrious; losses of millions of property and gloom settling where joy and happiness before existed. They felt the sirocco pass by, and desolate the plains where peace, and animation, and happiness exulted."

And thus Mr. Clay in presenting a memorial from Lexington, Kentucky:

"If there was any spot in the Union, likely to be exempt from the calamities that had afflicted the others, it would be the region about Lexington and its immediate neighborhood. Nowhere, to no other country, has Providence been more bountiful in its gifts. A country so rich and fertile that it yielded in fair and good seasons from sixty to seventy bushels of corn to the acre. It was a most beautiful country—all the land in it, not in a state of cultivation, was in parks (natural meadows), filled with flocks and herds, fattening on its luxuriant grass. But in what country, in what climate, the most favored by Heaven, can happiness and prosperity exist against bad government, against misrule, and against rash and ill-advised experiments? On the mountain's top, in the mountain's cavern, in the remotest borders of the country, every where, every interest has been affected by the mistaken policy of the Executive. While he admitted that the solicitude of his neighbors and friends was excited in some degree by the embarrassments of the country, yet they felt a deeper solicitude for the restoration of the rightful authority of the constitution and the laws. It is this which excites their apprehensions, and creates all their alarm. He would not, at this time, enlarge further on the subject of this memorial. He would only remark, that hemp, the great staple of the part of the country from whence the memorial came, had fallen twenty per cent. since he left home, and that Indian corn, another of its greatest staples, the most valuable of the fruits of the earth for the use of man, which the farmer converted into most of the articles of his consumption, furnishing him with food and raiment, had fallen to a equal extent. There were in that county six thousand fat bullocks now remaining unsold, when, long before this time last year, there was scarcely one to be purchased. They were not sold, because the butchers could not obtain from the banks the usual facilities in the way of discounts; they could not obtain funds in anticipation of their sales wherewith to purchase; and now $100,000 worth of this species of property remains on hand, which, if sold, would have been scattered through the country by the graziers, producing all the advantages to be derived from so large a circulation. Every farmer was too well aware of these facts one moment to doubt them. We are, said Mr. C., not a complaining people. We think not so much of distress. Give us our laws—guarantee to us our constitution—and we will be content with almost any form of government."

And Mr. Webster thus, in presenting a memorial from Lynn, Massachusetts:

"Those members of the Senate, said Mr. W., who have travelled from Boston to Salem, or to Nahant, will remember the town of Lynn. It is a beautiful town, situated upon the sea, is highly industrious, and has been hitherto prosperous and flourishing. With a population of eight thousand souls, its great business is the manufacture of shoes. Three thousand persons, men, women, and children, are engaged in this manufacture. They make and sell, ordinarily, two millions of pairs of shoes a year, for which, at 75 cents a pair, they receive one million five hundred thousand dollars. They consume half a million of dollars worth of leather, of which they buy a large portion in Philadelphia and Baltimore, and the rest in their own neighborhood. The articles manufactured by them are sent to all parts of the country, finding their way into every principal port, from Eastport round to St. Louis. Now, sir, when I was last among the people of this handsome town, all was prosperity and happiness. Their business was not extravagantly profitable; they were not growing rich over fast, but they were comfortable, all employed, and all satisfied and contented. But, sir, with them, as with others, a most serious change has taken place. They find their usual employments suddenly arrested, from the same cause which has smitten other parts of the country with like effects; and they have sent forward a memorial, which I have now the honor of laying before the Senate. This memorial, sir, is signed by nine hundred of the legal voters of the town; and I understand the largest number of votes known to have been given is one thousand. Their memorial is short; it complains of the illegal removal of the deposits, of the attack on the bank, and of the effect of these measures on their business."

And thus Mr. Kent, of Maryland, in presenting petitions from Washington county in that State:

"They depict in strong colors the daily increasing distress with which they are surrounded. They deeply deplore it, without the ability to relieve it, and they ascribe their condition to the derangement of the currency, and a total want of confidence, not only between man and man, but between banks situated even in the same neighborhood—all proceeding, as they believe, from the removal of the public deposits from the Bank of the United States. Four mouths since, and the counties from whence these memorials proceed, presented a population as contented and prosperous as could be found in any section of the country. But, sir, in that short period, the picture is reversed. Their rich and productive lands, which last fall were sought after with avidity at high prices, they inform us, have fallen 25 per cent., and no purchasers are to be found even at that reduced price. Wheat, the staple of that region of the country, was never much lower, if as low. Flour is quoted in Alexandria at $3 75, where a large portion of their crops seek a market. These honest, industrious people cannot withstand the cruel and ruinous consequences of this desperate and unnecessary experiment. The country cannot bear it, and unless speedy relief is afforded, the result of it will be as disastrous to those who projected it, as to the country at large, who are afflicted with it."

And thus Mr. Webster, presenting a petition from the master builders of Philadelphia, sent on by a large deputation:

"I rise, sir, to perform a pleasing duty. It is to lay before the Senate the proceedings of a meeting of the building mechanics of the city and county of Philadelphia, convened for the purpose of expressing their opinions on the present state of the country, on the 24th of February. This meeting consisted of three thousand persons, and was composed of carpenters, masons, brickmakers, bricklayers, painters and glaziers, lime burners, plasterers, lumber merchants and others, whose occupations are connected with the building of houses. I am proud, sir, that so respectable, so important, and so substantial a class of mechanics, have intrusted me with the presentment of their opinions and feelings respecting the present distress of the country, to the Senate. I am happy if they have seen, in the course pursued by me here, a policy favorable to the protection of their interest, and the prosperity of their families. These intelligent and sensible men, these highly useful citizens, have witnessed the effect of the late measures of government upon their own concerns; and the resolutions which I have now to present, fully express their convictions on the subject. They propose not to reason, but to testify; they speak what they do know.

"Sir, listen to the statement; hear the facts. The committee state, sir, that eight thousand persons are ordinarily employed in building houses, in the city and county of Philadelphia; a number which, with their families, would make quite a considerable town. They further state, that the average number of houses, which this body of mechanics has built, for the last five years, is twelve hundred houses a year. The average cost of these houses is computed at two thousand dollars each. Here is a business, then, sir, of two millions four hundred thousand dollars a year. Such has been the average of the last five years. And what is it now? Sir, the committee state that the business has fallen off seventy-five per cent. at least; that is to say, that, at most, only one-quarter part of their usual employment now remains. This is the season of the year in which building contracts are made. It is now known what is to be the business of the year. Many of these persons, who have heretofore had, every year, contracts for several houses on hand, have this year no contract at all. They have been obliged to dismiss their hands, to turn them over to any scraps of employment they could find, or to leave them in idleness, for want of any employment.

"Sir, the agitations of the country are not to be hushed by authority. Opinions, from however high quarters, will not quiet them. The condition of the nation calls for action, for measures, for the prompt interposition of Congress; and until Congress shall act, be it sooner or be it later, there will be no content, no repose, no restoration of former prosperity. Whoever supposes, sir, that he, or that any man, can quiet the discontents, or hush the complaints of the people by merely saying, "peace, be still!" mistakes, shockingly mistakes, the real condition of things. It is an agitation of interests, not of opinions; a severe pressure on men's property and their means of living, not a barren contest about abstract sentiments. Even, sir, the voice of party, often so sovereign, is not of power to subdue discontents and stifle complaints. The people, sir, feel great interests to be at stake, and they are rousing themselves to protect those interests. They consider the question to be, whether the government is made for the people, or the people for the government. They hold the former of these two propositions, and they mean to prove it.

"Mr. President, this measure of the Secretary has produced a degree of evil that cannot be borne. Talk about it as we will, it cannot be borne. A tottering state of credit, cramped means, loss of property and loss of employment, doubts of the condition of others, doubts of their own condition, constant fear of failures and new explosions, an awful dread of the future—sir when a consciousness of all these things accompanies a man, at his breakfast, his dinner and his supper; when it attends him through his hours, both of labor and rest; when it even disturbs and haunts his dreams, and when he feels, too, that that which is thus gnawing upon him is the pure result of foolish and rash measures of government, depend upon it he will not bear it. A deranged and disordered currency the ruin of occupation, distress for present means the prostration of credit and confidence, and all this without hope of improvement or change, is a state of things which no intelligent people can long endure."

Mr. Clay rose to second the motion of Mr Webster to refer and print this memorial; and, after giving it as his opinion that the property of the country had been reduced four hundred millions of dollars in value, by the measures of the government, thus apostrophized the Vice-President (Mr. Van Buren), charging him with a message of prayer and supplication to President Jackson:

"But there is another quarter which possesses sufficient power and influence to relieve the public distresses. In twenty-four hours, the executive branch could adopt a measure which would afford an efficacious and substantial remedy, and re-establish confidence. And those who, in this chamber, support the administration, could not render a better service than to repair to the executive mansion, and, placing before the Chief Magistrate the naked and undisguised truth, prevail upon him to retrace his steps and abandon his fatal experiment. No one, sir, can perform that duty with more propriety than yourself. [The Vice-President.] You can, if you will, induce him to change his course. To you, then, sir, in no unfriendly spirit, but with feelings softened and subdued by the deep distress which pervades every class of our countrymen, I make the appeal. By your official and personal relations with the President, you maintain with him an intercourse which I neither enjoy nor covet. Go to him and tell him, without exaggeration, but in the language of truth and sincerity, the actual condition of his bleeding country. Tell him it is nearly ruined and undone by the measures which he has been induced to put in operation. Tell him that his experiment is operating on the nation like the philosopher's experiment upon a convulsed animal, in an exhausted receiver, and that it must expire, in agony, if he does not pause, give it free and sound circulation, and suffer the energies of the people to be revived and restored. Tell him that, in a single city, more than sixty bankruptcies, involving a loss of upwards of fifteen millions of dollars, have occurred. Tell him of the alarming decline in the value of all property, of the depreciation of all the products of industry, of the stagnation in every branch of business, and of the close of numerous manufacturing establishments, which, a few short months ago, were in active and flourishing operation. Depict to him, if you can find language to portray, the heart-rending wretchedness of thousands of the working classes cast out of employment. Tell him of the tears of helpless widows, no longer able to earn their bread, and of unclad and unfed orphans who have been driven, by his policy, out of the busy pursuits in which but yesterday they were gaining an honest livelihood. Say to him that if firmness be honorable, when guided by truth and justice, it is intimately allied to another quality, of the most pernicious tendency, in the prosecution of an erroneous system. Tell him how much more true glory is to be won by retracing false steps, than by blindly rushing on until his country is overwhelmed in bankruptcy and ruin. Tell him of the ardent attachment, the unbounded devotion, the enthusiastic gratitude, towards him, so often signally manifested by the American people, and that they deserve, at his hands, better treatment. Tell him to guard himself against the possibility of an odious comparison with that worst of the Roman emperors, who, contemplating with indifference the conflagration of the mistress of the world, regaled himself during the terrific scene in the throng of his dancing courtiers. If you desire to secure for yourself the reputation of a public benefactor, describe to him truly the universal distress already produced, and the certain ruin which must ensue from perseverance in his measures. Tell him that he has been abused, deceived, betrayed, by the wicked counsels of unprincipled men around him. Inform him that all efforts in Congress to alleviate or terminate the public distress are paralyzed and likely to prove totally unavailing, from his influence upon a large portion of the members, who are unwilling to withdraw their support, or to take a course repugnant to his wishes and feelings. Tell him that, in his bosom alone, under actual circumstances, does the power abide to relieve the country; and that, unless he opens it to conviction, and corrects the errors of his administration, no human imagination can conceive, and no human tongue can express the awful consequences which may follow. Entreat him to pause, and to reflect that there is a point beyond which human endurance cannot go; and let him not drive this brave, generous, and patriotic people to madness and despair."

During the delivery of this apostrophe, the Vice-President maintained the utmost decorum of countenance, looking respectfully, and even innocently at the speaker, all the while, as if treasuring up every word he said to be faithfully repeated to the President. After it was over, and the Vice-President had called some senator to the chair, he went up to Mr. Clay, and asked him for a pinch of his fine maccoboy snuff (as he often did); and, having received it, walked away. But a public meeting in Philadelphia took the performance seriously to heart, and adopted this resolution, which the indefatigable Hezekiah Niles "registered" for the information of posterity:

"Resolved, That Martin Van Buren deserves, and will receive the execrations of all good men, should he shrink from the responsibility of conveying to Andrew Jackson the message sent by the honorable Henry Clay, when the builders' memorial was presented to the Senate. I charge you, said he, go the President and tell him—tell him if he would save his country—if he would save himself—tell him to stop short, and ponder well his course—tell him to retrace his steps, before the injured and insulted people, infuriated by his experiment upon their happiness, rises in the majesty of power, and hurls the usurper down from the seat he occupies, like Lucifer, never to rise again."

Mr. Benton replied to these distress petitions, and distress harangues, by showing that they were nothing but a reproduction, with a change of names and dates, of the same kind of speeches and petitions which were heard in the year 1811, when the charter of the first national bank was expiring, and when General Jackson was not President—when Mr. Taney was not Secretary of the Treasury—when no deposits had been removed, and when there was no quarrel between the bank and the government; and he read copiously from the Congress debates of that day to justify what he said; and declared the two scenes, so far as the distress was concerned, to be identical. After reading from these petitions and speeches, he proceeded to say:

"All the machinery of alarm and distress was in as full activity at that time as at present, and with the same identical effects. Town meetings—memorials—resolutions—deputations to Congress—alarming speeches in Congress. The price of all property was shown to be depressed. Hemp sunk in Philadelphia from $350 to $250 per ton; flour sunk from $11 a barrel to $7 75; all real estate fell thirty per cent.; five hundred houses were suspended in their erection; the rent of money rose to one and a half per month on the best paper. Confidence destroyed—manufactories stopped—workmen dismissed—and the ruin of the country confidently predicted. This was the scene then; and for what object? Purely and simply to obtain a recharter of the bank—purely and simply to force a recharter from the alarm and distress of the country; for there was no removal of deposits then to be complained of, and to be made the scape-goat of a studied and premeditated attempt to operate upon Congress through the alarms of the people and the destruction of their property. There was not even a curtailment of discounts then. The whole scene was fictitious; but it was a case in which fiction does the mischief of truth. A false alarm in the money market produces all the effects of real danger; and thus, as much distress was proclaimed in Congress in 1811—as much distress was proved to exist, and really did exist—then as now; without a single cause to be alleged then, which is alleged now. But the power and organization of the bank made the alarm then; its power and organization make it now; and fictitious on both occasions; and men were ruined then, as now, by the power of imaginary danger, which in the moneyed world, has all the ruinous effects of real danger. No deposits were removed then, and the reason was, as assigned by Mr. Gallatin to Congress, that the government had borrowed more than the amount of the deposits from the bank; and this loan would enable her to protect her interest in every contingency. The open object of the bank then was a recharter. The knights entered the lists with their visors off—no war in disguise then for the renewal of a charter under the tilting and jousting of a masquerade scuffle for recovery of deposits."

This was a complete reply, to which no one could make any answer; and the two distresses all proved the same thing, that a powerful national bank could make distress when it pleased; and would always please to do it when it had an object to gain by it—either in forcing a recharter or in reaping a harvest of profit by making a contraction of debts after having made an expansion of credits.

It will be difficult for people in after times to realize the degree of excitement, of agitation and of commotion which was produced by this organized attempt to make panic and distress. The great cities especially were the scene of commotions but little short of frenzy—public meetings of thousands, the most inflammatory harangues, cannon firing, great feasts—and the members of Congress who spoke against the President received when they travelled with public honors, like conquering generals returning from victorious battle fields—met by masses, saluted with acclamations, escorted by processions, and their lodgings surrounded by thousands calling for a view of their persons. The gaining of a municipal election in the city of New-York put the climax upon this enthusiasm; and some instances taken from the every day occurrences of the time may give some faint idea of this extravagant exaltation. Thus:

"Mr. Webster, on his late journey to Boston, was received and parted with at Philadelphia, New-York, Providence, &c., by thousands of the people."

"Messrs. Poindexter, Preston and McDuffie visited Philadelphia the beginning of this week, and received the most flattering attention of the citizens—thousands having waited upon to honor them; and they were dined, &c., with great enthusiasm."

"A very large public meeting was held at the Musical Fund Hall, Philadelphia, on Monday afternoon last, to compliment the 'whigs' of New-York on the late victory gained by them. Though thousands were in the huge room, other thousands could not get in! It was a complete 'jam.' John Sergeant was called to the chair, and delivered an address of 'great power and ability'—'one of the happiest efforts' of that distinguished man. Mr. Preston of the Senate, and Mr. McDuffie of the House of Representatives, were present. The first was loudly called for, when Mr. Sergeant had concluded, and he addressed the meeting at considerable length. Mr. McDuffie was then as loudly named, and he also spoke with his usual ardency and power, in which he paid a handsome compliment to Mr. Sergeant, who, though he had differed in opinion with him, he regarded as a 'sterling patriot,' &c. Each of these speeches were received with hearty and continued marks of approbation, and often interrupted with shouts of applause. The like, it is said, had never before been witnessed in Philadelphia. The people were in the highest possible state of enthusiasm."

"An immense multitude of people partook of a collation in Castle Garden, New-York, on Tuesday afternoon, to celebrate the victory gained in the 'three days.' The garden was dressed with flags, and every thing prepared on a grand scale. Pipes of wine and barrels of beer were present in abundance, with a full supply of eatables. After partaking of refreshments (in which a great deal of business was done in a short time, by the thousands employed—for many mouths, like many hands, make quick work!) the meeting was organized, by appointing Benjamin Wells, carpenter, president, twelve vice-presidents, and four secretaries, of whom there was one cartman, one sail maker, one grocer, one watchmaker, one ship carpenter, one potter, one mariner, one physician, one printer, one surveyor, four merchants, &c. The president briefly, but strongly, addressed the multitude, as did several other gentlemen. A committee of congratulation from Philadelphia was presented to the people and received with shouts. When the time for adjournment arrived, the vast multitude, in a solid column, taking a considerable circuit, proceeded to Greenwich-street, where Mr. Webster was dining with a friend. Loudly called for, he came forward, and was instantly surrounded by a dense mass of merchants and cartmen, sailors and mechanics, professional men and laborers, &c., seizing him by his hands. He was asked to say a few words to the people, and did so. He exhorted them to perseverance in support of the constitution, and, as a dead silence prevailed, he was heard by thousands. He thanked them, and ended by hoping that God would bless them all."

"Saturday Messrs. Webster, Preston and Binney were expected at Baltimore; and, though raining hard, thousands assembled to meet them. Sunday they arrived, and were met by a dense mass, and speeches exacted. A reverend minister of the Gospel, in excuse of such a gathering on the Sabbath, said that in revolutionary times there were no Sabbaths. They were conducted to the hotel, where 5,000 well-dressed citizens received them with enthusiasm."

"Mr. McDuffie reached Baltimore in the afternoon of Saturday last, on his return to Washington, and was received by from 1,500 to 2,000 people, who were waiting on the wharf for the purpose. He was escorted to the City Hotel, and, from the steps, addressed the crowd (now increased to about 3,000 persons), in as earnest a speech, perhaps, as he ever pronounced—and the manner of his delivery was not less forcible than the matter of his remarks. Mr. McD. spoke for about half an hour; and, while at one moment he produced a roar of laughter, in the next he commanded the entire attention of the audience, or elicited loud shouts of applause.

"The brief addresses of Messrs. Webster, Binney, McDuffie, and Preston, to assembled multitudes in Baltimore, and the manner in which they were received, show a new state of feelings and of things in this city. When Mr. McDuffie said that ten days after the entrance of soldiers into the Senate chamber, to send the senators home, that 200,000 volunteers would be in Washington, there was such a shout as we have seldom before heard."

"There was a mighty meeting of the people, and such a feast as was never before prepared in the United States, held near Philadelphia, on Tuesday last, as a rallying 'to support the constitution,' and 'in honor of the late whig victory at New-York,' a very large delegation from that city being in attendance, bringing with them their frigate-rigged and highly-finished boat, called the 'Constitution,' which had been passed through the streets during the 'three days.' The arrival of the steamboat with this delegation on board, and the procession that was then formed, are described in glowing terms. The whole number congregated was supposed not to be less than fifty thousand, multitudes attending from adjacent parts of Pennsylvania, New Jersey, Delaware, &c. Many cattle and other animals had been roasted whole, and there were 200 great rounds of beef, 400 hams, as many beeves' tongues, &c. and 15,000 loaves of bread, with crackers and cheese, &c., and equal supplies of wine, beer, and cider. This may give some idea of the magnitude of the feast. John Sergeant presided, assisted by a large number of vice-presidents, &c. Strong bands of music played at intervals, and several salutes were fired from the miniature frigate, which were returned by heavy artillery provided for the purpose."

Notices, such as these, might be cited in any number; but those given are enough to show to what a degree people can be excited, when a great moneyed power, and a great political party, combine for the purpose of exciting the passions through the public sufferings and the public alarms. Immense amounts of money were expended in these operations; and it was notorious that it chiefly came from the great moneyed corporation in Philadelphia.