fluctuations ever do good to him who depends on his daily labor for his daily bread?  Certainly never.  All these things may gratify greediness for sudden gain, or the rashness of daring speculation; but they can bring nothing but injury and distress to the homes of patient industry and honest labor.  Who are they that profit by the present state of things?  They are not the many, but the few.  They are speculators, brokers, dealers in money, and lenders of money at exorbitant interest.  Small capitalists are crushed, and, their means being dispersed, as usual, in various parts of the country, and this miserable policy having destroyed exchanges, they have no longer either money or credit.  And all classes of labor partake, and must partake, in the same calamity.  And what consolation for all this is it, that the public lands are paid for in specie? that, whatever embarrassment and distress pervade the country, the Western wilderness is thickly sprinkled over with eagles and dollars? that gold goes weekly from Milwaukie and Chicago to Detroit, and back again from Detroit to Milwaukie and Chicago, and performs similar feats of egress and regress, in many other instances, in the Western States?  It is remarkable enough, that, with all this sacrifice of general convenience, with all this sky-rending clamor for government payments in specie, government, after all, never gets a dollar.  So far as I know, the United States have not now a single specie dollar in the world.  If they have, where is it?  The gold and silver collected at the land offices is sent to the deposit banks; it is there placed to the credit of the government, and thereby becomes the property of the bank.  The whole revenue of the government, therefore, after all, consists in mere bank credits; that very sort of security which the friends of the administration have so much denounced.

Remember, Gentlemen, in the midst of this deafening din against all banks, that, if it shall create such a panic as shall shut up the banks, it will shut up the treasury of the United States also.

Gentlemen, I would not willingly be a prophet of ill.  I most devoutly wish to see a better state of things; and I believe the repeal of the treasury order would tend very much to bring about that better state of things.  And I am of opinion, that, sooner or later, the order will be repealed.  I think it must be repealed.  I think the East, West, North, and South will demand its repeal.  But, Gentlemen, I feel it my duty to say, that, if I should be disappointed in this expectation, I see no immediate relief to the distresses of the community.  I greatly fear, even, that the worst is not yet.[2] I look for severer distresses; for extreme difficulties in exchange, for far greater inconveniences in remittance, and for a sudden fall in prices.  Our condition is one which is not to be tampered with, and the repeal of the treasury order, being something which government can do, and which will do good, the public voice is