El El co'NenkA§io - NAIG. BM .Vorrespandence. (if the Ilaltimorg Patriot Nlll CLAY'S :SPEECICONIIIE•Sup4nr::A., • suity,ilf.b.- . Mn. CLAY & mit; bAutiouN , • ••/ wAtui r'; GT of:, Pl CLAY has just finished 0pe.: , ,0f • the melt instructive . aiiii - elequent, and ; in every nespect• . tnoSt ahle :speeches he :-eyerdeliverett -in-;-his nearly five hours; arid th g,h.'etiltle , ii ' weakenedbylindisposition-,116 preset:v(ld' 111.tanitnatinn an d. endrgy,... unflagging tu the last , and pronOu!ace4 sente.ages: in the tnost ........... and 'with all that. vivacity andexpresef Sivenessmiileli iii - clicate a Iresitan.d — v & ig °rods frame of min aii(l..botly...:Nesrer • before - I;imagine voLiiThe'cuciosity, and entbosiksin-of 'more " eac . eitedihrtii to-day. Ohi• (tot the: . Senite_Chainber•an hour half 1 - ore the comm neetnent of httsines:‘, I found fo :•• . . l'h theldliriesillledalid'showtly - afte yard nurphe'rkt_al ladies; unabli± -•• to . nil :aecominoaatign there, inacto . ..'.itliefr way:to the floor,. and'toelc . posses; sion:of the privileged . seats, with' the hope *that, -on -- such an occasion, they would-he allowed to retain them. ' 'Me . to• in crea se;_ttnti.LfrFit forin - s'irc - copied — almost- --e very -vacant • • spot in the: Chamber. Meantime the excitement•out, sif -doors :Was immense.- - The :adjoining do in dittee_rno.nis_a nd_ ...,__Tassages Were so densely filled,t hat there was scarcely wi s p , . possibility. of ingress o.r egress.'„The interior - the•Chatn, ber'presented reallY•3 - -bil:lll . :Thi and de-. lightful.'spectaele. Hope' beamed . from : - .. - __. - inanTaLbright_Leyei__)Mdi.gave . greater _lustre totnany a beauteous- face; :the' fairbeings confident!, ..expec they wOuld, be allowed to occupy the .. places vvhieh I - aity-furE: - they - Wou Id :have-gra:- • eec an tonore u a as. a cy v9x -----#itin-i-pf-spirit:-here—below-1-7TheseAti ":- vi4ereatures wererpost -unserupulouS - ,tl 21panshamefully t urned out (odious --- . --- Wirarololliit - I should' be-coin - lien- WALIC . ER.of M is sissimii,baa'the:gallantry to offer a reso-, ..lution to kee them in. But two or 'Senators-Old bachelors are 13W-e-a-ry objected:--arid tho'propositicin to admit the_ladieS 'for thts_day was -comPelled . - to submit to the _fate of lying over till : to -morrow! So- thefair 'beings - had to go;.not without-the sympathies, how-. - ever; devout, admiration r - Sand. profound. regrets of all the better, class•of.hu kir .theylleft : _ - ____Perseverancelis_aliawel,!_ Our eolfri-, CLAY. The large front doors, of the .- -Chamber were thrown - Wide open - ,. and a huhdred -of. these lovely eiithusiastS - , , stood' there during five, or six Mortal lionrs; .while others planted themselves in-the committee rooms, - :•-adjoining rooms, spread wide .the doors; and• ' though they could not see, they could After. a beautiful and touching, exor ,dium, Air. CLAY entered upon the great • subjeet which. is agitating the minds of. -- the whole-reilecting--cometottity;-and ----taidedown,ffice_prapositionsivith_res_p_ect to it; which in substance; are.the follow ing: - Ist. 'What it 'was the deliberate pur -lose and-fixed - design of'the late ad m ri -IG7 -- Istration to .establWt a, overnment Bank----a Treasury Bjnk to be adminis tered and controlled - by the - Treasury. Department. . 2d..That - with'a view to"thisTod, .it. was determined to overthrow the Whole . - .bankinksystem.oLthis_cmintry. • 3d. That the attacks. were .first con fined from considerations-of policy to 'the Bank of the United States, but were afterwards . extended to; and . are still continued_sgainst_the-State 4th. That the present Executive has -aucceeded the - principle, and policy_ of thelast administration, and is p pled : 'ed to perfect their': sth. That this Sun-Treasitry,llill is intended to execute that pledge by.'erea.- tin& a Goiiertiment controlled .and administered by the Treasuryth.-De jpartmetit. . efrpto:ceeited - to - 2 citlttee proofs of his ;first proposhion, ' The eyidenee was: perfectly conclusive: It copsisted 'chiefly:a the.message of, the! late President.: °Lay read a long eitract from the first message 'of Gen. JAClcsox, making the first sugge'stio'n, of, Go 7111-aelt- a ‘Jtovertiment sank, , Ara afCae on_ the late of the - tithed States. "is this passagel—but yet it is• the first sound of the - bugle which' called together the different elements of that army" • with whiCh Presidebt jAclicsow: Merv/arils carried on the war Avithilluch implaca bility!" The desigtio he , maintained, was here shadowed out.. But the people - did not take the hint. 'Sollie President Nin hie riexCmessage more boldly. avow ed,,his piirpose, arKI pro - posed.plainly, to • organize. an Anstitution.-to be aaminis teredAnd controlled by the - Treasury Pew, rlorient. , Still however, it did not find.; the. favor.that was expected; and hi the message of 1831 he again recurs to the :subject--refercto his former re; marks - upon it; and urges the establish ment of . such institutions again on the consideration of Congress. In his,veto message Jili), hereviews for thel'ourrt time the ,opinio . kof the practicability of 'creatios s it as the; fiscal agent of the .government; r and chides Congress fqr' • not calling_ort. himfor _project of such •an CLA - r quoted the remarks of the late' f',ieeiclent, "a;til they"eertainly . 'fully sub stantiated his first position. • . I E6 theriloolt pp his Xeedn'cl,;na i propositions' arid - treated 'the,rn together. He;:addui3ect 1- . from the ritssag`e ,of PresidenCJAcitsOt ev.idence"Pf -~, tetItIo.;1 , 1 0 deiiti•ov.,the; St - ate:11110as, aka uverthri-4 -, llre-wll6lO, credit svt.ttem.:9 the' . vit!itti.rY. • In : - the:messageLor IS 34 Adjia of 1:11 . e (1 frrsri:e was bro:ir4r.:l. NI, anil 'in that 'of. t Was . open- Ity" declared against all, Orporalions-- agaiUst whnt„ he . calls • all monopoly • . —tinil the. PreSicient:(l%velt upon what 'he • toined the .MiSchleyous , yestitsl which had flow6dfrom these.,monppo: lies.and 'cor-toratioos.. '.llt these n-'s- • sagels ; too, were. first. shade wed 0ut,,A1, ;1 the tioctri.n.~ tif ,hard inorieSr, exclttsiVe ‘ . Spe - ele'etirf'onc . y, - tlie - constitutiOval.cur , rencS , , whiehltayo.,sirtee'obtajned.. l such vI, i w'itp .th a party.' • • Mi•: - CiAt;tfiNt rpotol kornithe I..lre'S'ef General ,lAct,:st . ut fore nf'lillustrating, still far ther Ili lllthat there a settled Ct.osign, to..aeaompl.ish the destruction of .the en:tire -- These extracts - plainly7SlTow-thaCar; ter the ilstruetiou df,the'National. stitiltiim;; - the war was instantlY .beg - nn agailist..„ the State institutions; tied the distinguiSherl SepatOr . commdnted With. inarkoi)le force a It'd sPirit on tl,lta *differ ent part's tif.the evidence: • lie then showed hoiv injorion'S and. pernicioUS had' -Been the •dperatiOrr . 6f the Treasury_Circular; ‘vhich.Was ed .for the purpose of .making the Gov, erntneol,ti competitor -t•viththe Banks in the purchase of Sp_eeie, - with the ulti- mate Objeetof ltrinntitg rnin On the hiller." • - In connection—tvith this' part of - his', Suhjecl, Mr. CLAi alio dad . , yvit , ll eat directness and e ff ect to thd motives pi this crusade, against the institutions of ther - eoontry, As far as. General. coitcet•ned; - lelievptl - -thosel -motives . might be. ouol in , t. ie egottsm - and vanity of his citaracteri: — W-Hten-he found elevated to the MAOlsrt~ucr, he. took .the . ilCsFgit . to `vent 0 ill touch= to re-model; -to stamp; if possi a-tieviimpressionon the policy and Goyertinient.ofhiieountrY. Mr. CLAY refeiTed ,to'sorne exiiliff - 1178 - mitar ambition in different historical persons. . . instituted a cotripaiTsii“inr this respect, between the - 1-ate_Tres4len Cand the vanity of -the in:having - images, and other memorials oThiinself•stamped, which %rare. pielted out, obliterated, and desrroyed- - in tile:- subsequent - reign-of the restore I our, liofrz i r Trz - a7n trimmer) when \vitt the traces made by AM:1 . 1111W JACKSON 39 O IC civil 40 min ; istration of>ft --- ivillry -be elEteetl?— , - Years will roll by .before America eeac= ses to fell the coniequene_es_of his.mea• sures---before - Americans—=American society,- shall be. restored to its . forrner purity and worth. . iTeFe — inFrudeu "Tn-Te-f -est ing, account of his first acquaintance with Gen JAcxsoN in 1815 7 16=a their _np_a_intereciurse and estran,ternent. in have sail Ira mcr of 5,,0 , a measure j was far more woolly Of th ~ p eniteiTtia, ry than any person whoM it.,conld pos t , _ 11C:r1C.0 or iiis remarks on th - C - 1 . wh . ir, sir; •(contintjed.mr.—Cla3Tii;nl co use `General's con uct to tie emino e..war —of the rknewal of thair intercourse in 1524; and-the-continuance of their. inti-. macy until that day when he gave a te-Ipt - we - artitti - Gencral - and - INIr: . A AUS as candidates for the- Presidenpy; and when instantly a fierce, war was de clared, against him: and alt , the dogs,of the let loose upon But (t , .xclaimed_this . distinguished Se, - ,ator) netwithstanding .that implaea T ble hostlity•then conceived against.m . e, and 'the- persever_ing acid ..ruthless • ani mosity Avith which . I rya's pursued, here I stand' unbroken, . as I was - always urc hurt—let unsphdued, utiatved, Ti6e4 - ready to denounce the measures of his administration tvheflier in itself •or orviiiipanc:--ready to* hold.: up to the indiknation of the people this project—one of the most odious - and de stroc.ti've ever presented! Mr. Cr.Ay then touched • upon some other . mojires—that unprincipled %vat.- fare aglinSuthe Bank of th United ' - states: ^i'r`Tt3i'e'-jiigiic c 'ep6e'With Ii Greatest antl.tiest-;--[er sonal 4riituosity against the . .oflieers and directors of the instittiliOn-L-an instance' of whiCh he Adduceil: in hi report to- . Wards Mr.' BLDULE; because he rein :se 4.1 . 10 Wit Mr. MASON firOM 111 C bianch itr.New . Hampshire, 'at the , instance of Gov ernor-lIILLIt . hese - holnelruths'etitAlte—paty-to ihe quick, ,13enten; Ll r ubb'ard,. Niles, el id Om', 0 • gentts, could 'not. disguise 'their rage; but.yept tterinitheir pent up,wrath in kroy*, . that. were, Berne , tirnes'nverheg . r,din the galleries and ereased the relish , with which .their 'eliasttsetnent ' :by the ' , . Mr.""Sr.icit— then ~Koceeded to "e• fOurth pr6position,.durt . ,.,.in) regatta to the auecession of the present-ntecutike• to the principles, plans, and policy .of the last Aa Ministration. 0:1 ,- •this;. you may 'readily, iniagine be had no litek of proof's: 11o° boot') with the letter of Mr: Van Buren to the.BaleimOrd Con . - von lion etnd oh !.-fhao-COuld-gi ve.yffnr 'leaders some. idea' of . the,:, wit abai.huni' or, •aoll.'inimitables.arcailm with Which be..c . nninferited: on' t , tfniti - Unfo'itunate ePistic?„—'incLesp'c'ciallY Oti' the: expreS siotii .IVli..VatiA3uten of 'What 4,, 'o . .wc,*.to . those friends Who tad Seleatial . i nras 1 tie - it 0e iqtii - tt.(tod4 perfeet. the 'wOrk.,, which '.le elcso . m)lact so gioritisly begun . ; ••Bitt,',l I niost . pass . civerthiS'adinir`able ,passage ‘v i 11P' eL 1;i mple. re tiri a elc that--Mr. Clay Iftgeil with great' spirit ,the .point,..that the work Which-Mr.-Van ,' 13tiren was to .. • complete .was- . the ";destruction ."of, t4e .rt JOTT3r CaTIIE4 giyevlxri fi t ; - al*Alr • r l'itate•l3,a#l:S;A•l'rieh,Oeitirafiadlcs ' eii afiesili?;be.imt k . •• • , J t ri referred tek.''Vhe inauntirnl, ail-. i•o rt s.4,ilf . )lr.Y.atvl3ifrei!as fOrnisAiing stilt further-evidence of Lis succession to :41 - 1 . 6 - .d'eshmetive 'principles and'policy of his predecessiir. IC is there shoiA.M thatibe presi'mt Chier . .),lagistrate had. stinted iir the oi•"•Presiden t ::I;icksen arid recoaimendeland suPpnyt-, ell all these wen(' to grit $t ctxlippate the batticinntnstirtrlions Mid 41b - eXellifrgrgtc•nt'of t ti P tty: . .llTS.emirSe in regard to. the.Tl.6sliry : , Circular, , for . .Ilse repeal repral cif'-which the whole cmintrY.-h•atl,••••PaIlled - his ‘reeorn mend,rtioti of a Italikrirpclawi, hail it btidit• passed, would lie a' coup :de have annihilateil the . whole Banking system, &led further -it losti-ciiion',pn the fidelity with .which lie th.efoots.teps... • TA'n — ofher .protifwas . tli'e hill • fof•.re 7 i-1 - siting Treasury Notes;ootie, of the'inain; objects-of which :was to accustom- the countryto 6ove.rninent-issues, • . ' `fiere Ali . .. CLAY' atil{9tl,•if • an'y one present note? - lild a Treasury: note? Min e . her of the•llonse'`handed him one. of these pi:.kious .Government•Shin-pfaS-: fers. . lie displayekit :to - , the audience,. exclaimin!r, !'See here! • 2fl . ow•adniira... .bly they more emblazonry—ftlip Color.: ing-s,otnewhat lii4her, perhaps; but still it-might-be i'•ery well. taken -for-,a note-of .those detested arid dimMineeil lions; Railed banks?" Thu effect Of this 1ia.17101- Ticasury . "1.3 , " to elle owner remark ; .;.: , ins thatit %Nat, with_stkch issues, ttrellid- , 4" minis,iration'designed to--accustom . I..he yernment paper, ,461,11 t c Ultimate end of.destreylricthe. notes of-the local institutions! Eli cLA - 1-I.=l - 01,j regarded & treated the'suSpen.-. : ' skin of payments ‘ as merely a temporary measure; and ought _to havd - received. -41m-noteCs-of_banks. Mlkb:were - .known... tobe 'safe and stahle,..although were nag . the firde :redeemed in.spe:.l cie; This was the. and benefieient - i course Of. Madison. The n ot 65.0f-so:elf- Vhave - been cpite af I .. v.alnahte., l at least ps.this I..'l'eastiry paper!: truly. eharacterized: as arnither proof of the . .,:stieeesSin.nt?(_ this iilmitiotrati.o.n. to . _ tlfe principles-and 2die.y_ofitspredecesser the recolit re port-Uf rfiTTl;r6 firqIre'VETZEZTIIV the notes of the United Slat . es-Ilanlca report against seven millions'of tile . hest bank wiper in 3116 U. State's! .As to the bill of fines and penaltiu . .ape ompany ingit—crenting penitentiary_ offences, aSwell as anathemsLheleglar,_ e 4 that hail it not lieen repoxted bY - his mild friend- from Tennesben. lie .would.l . . any mart in hja senses deny — filar:Mese, mites are far better than, the; notes of . Levi--Wood b ury,yabled though he be by.the Chancellor. I beg; pardon,. I mean-the-Dt - Chanrellor - of the-E-x-cheq--- tier“or ns said-before, : the h,norable Senator from New York; (Mr. 1W -right) is brolten.:--he..has. -lost. his' place; and must defer-to the Senator from South. Carolina, (Mr. Calhoun)—l ask (added Mr. Clay); whether my friend • from' :Tennessee does not al ways •velien: setting out on a journey put in his.pocket some of the very' same notes against which Ile has fulminate.d_these severe pains and, penalties? • (Great•latig„hicr.) Mr. GittiNity, thus hard pressed, ti•es forced tb answer. said,'"No', sir, I always trayel.on. specie!!!" •„: • "Ali!" rejoined Mr. Clay, "I‘ know My. old _friend: .is_sfii , ciots, in every thing! -(Shoutsr=of-laughter,- which the: Vice 'President joined so heartily, that it tlid . on - egood to seChim.) . • , • Ile appeared to have all' the btroyar . tcy and spirit :of youth;-ankthe next• . rno„• rriehtdtp peunced, with such force and directneis ow:Benton individual' quiver in spite of. his almost iMpervioun tnail.Of.'assurtinee and affec tation-. Most - of - the - Senators - from7dis-* tint places, he said, tvet-eAlad tb pro :vide themselves with these .notes; arid lie liair-heard-1/4-that-tr.member•-not-lar from his Tentessee friend, was • once startled by thb•discoverrof one of them_ in his silk- purse- 7 though• he doubtless. felt •a proper degree of ind ignatiob at. the circumstance! . • • •• • • Mr. BEtvirorr.. sits•nbar Mr.:Grundy.' The alhisiOn tolt•well known anecdote of the. Missouri Humbugger,,,was•untlet stood and applied - hy,every one.- , • Mr, PLAY then nrocoded to present -ihe ,proofs of his:fifth .proposit He . .reviewed; in an-ost able .manner the prominent provisions of the billo,point- Ing oult . their, character as 'constituents efo great GoVerannenf.Bank. • - attention particularly to theOth•Section, as showing the extent : ofiewers granted,, Your money (Sald he) lies - at. the offices of the Receivers B.t . collecti4s,and you give the'poWer shift and; transfer the money-at the. dis ;. , agency .is - de'signated , port which that discretion is to be exercised: The , pOW: er is limitless to tranSfer,ft:ont - One point anether—to . dTvhle." or, concentrate, and,no specification ,wha ever- is e. of the CanSes, or inatances,,Or'contingen ties on . vvh . iCh The Secretary - may dray aa 'he pleases. in regard t 641 n Oher ! . 'and , ::itrig nt, . e chi:Bars, to .n.n . y --- 'sk!gi.- :don - you dou,lit that • his drafts the sig - Mit.nreS of It easotii- ,and Cupop.- Wilf, l be made upon bank' note , paper-for tne purpose-of carrying out the ilesign. of accustoming the-people to the issue -- of . Goverrinient Oyer for. the • pily POse a:ea - rub*, out, the aCcustoniiiing to the people t(t the' issue of GAVernment . paper morrry,? The gi:cat want of- the coAdrry 13 - a 'tr,eneral eurtency, or. yoltie, l ., Here ift - ' - :the . - -pnwer siren `lo the Secretary : to supply a cireolation Who-eau fieJre '-e - that-the authorq thus prodigttl.fr.,con-: ceded:Will not, be exercised? cOntrov.erted ihe,argtratent of thitt this,- is the, stitne . power which .. ha:Oxen exereised : before, - . . denied-tbyt. the Tower i 4 the-same. • It --is-confowding things eSS ell yunlike." 'time, anthinioitnt.; is the sanie aS that w . ttiell Was' exercised by , the-wise and cautious allattn,-Arid .:11 is. Orecl4cessavi t .. of titt..!: Governmilift by making tr4lnsfel drafts. Sp tremendous a power was en tirely trnknoW.ti and unprecedented in thelii,i l ,tory' . of.titis country, Tribe-section Whieh.confcrs-it-shoold tlibre can lie - no etre - dive . , . couttiol . of this iloancial o•Steut. - .1•114! system. will control the ditrOectinents. 'and -.the . ,t the exet.eise.of..all tbg:pnvv.eif„.as a greet. .and'over:diadowi6; it is easy to-imagine. sonic .or'the cot‘se— .--devictfd---in---1 Thktories otlter - Sta Le's in whiglithe, , ,e Trace; vers Qt. - hay.e..at a6 - yfiine,.lyeen in fash-t4Tr. ' bl y associated with corruilion, and P pri , s_sion, 'trod _OTe.tlestrutionof . • , Nlt-,-CL ty_hereld'itclied.npon ant :her Amportant. triatter...L.Suppose, ..s; ' he, t hat i his , sysfem then goes i 9 th-overi lion,. it _wilt be - impos . sible for'l he be ntes to . resaiaC .specie.:pay,igents.::.l,wheii . such ; '.a..poweilul eomputitoy with tlyznit has been createfl.::_Alto . weV is s 11 - ;.Fveli . iiy which. the Secretary:may i - ‘ , iill'ith.,9. 44reatvst-c-ase - crpPlo :11 nil • (I e"styoy :.'illst he local . institufloiaspf: the- ceuntry._ lie illustrated this position very folly_;_aml (hell -dwelt with ii;re...at.. force on the fact tliat,vaft./g - iO-1./ic..cnit nI Py &pen ds yin Ilie division, of power: aiii7 thiii..7hTi .dan,,r.e•eis'.... from. .4/le,:....raneeiLlt\ql,.iloari .au Thor - ilt - 11111iel I ii'iiiiir-Tit - r - aMi - c - d - Wa:T in accorcla'nce-with these •prilfeir;les.—: The i'lank . o . f the United S'lales. was JO the local institutions as the Federal , Gdvernment is :to the , :tat es;-and the systent)v . orked admira , bly: But here : noir is con sotitiatioii of all money pow tii) and given to hands aniinateility - the liercest hatred to the Local Ran'ks!. exclaimer Sir , Ise it t e - d - to succeed', the Stites: will soon-bec-dittr--tlt-e -, Suppliants to . the . Executive Depart ment, fur a portion. of tliat, power Which ,will be then concelitred in the hands of Fifa one man. ~.. Mr. CLAY proceeded ' to_ eiiribire where the authors of the bill had.deriv-I ed the idea of "Receivers-Gencraf.". -After-conitOnting-olthe-,situation -of several. despotic governments; in which they Might have discovered the exani plu (hOw worthy to be followed by. our modern 'patent demec.rats!)—he refer ed to. an uld history. of New' York. , in whose_musty pages h i e had found out the prototypes •,of the )lecoivers, under the iron, rule oT :- . one._ Ouvernor, •Fletcher,•a.Jack on sortoffellow, rash, intemperate, se f-will - ei - lii - iiig - powe'r much, and I h ( -•:arbitrary exercine-of it -more. , T . -hi' , functionary had hiS: Re e Overs Geop.ral; but marl: the moral.-- WhiiothVTrcasures. of the State._ were in their locoing, theAssernbly had no: nooritiyiand werc/ohliged to beg. from ,the .dovernor t 1 means of paying their atteadantS.,- .1 .. • 2 •Igiss .