Mr. B. proceeded to the next evidence of commercial prosperity; it was the increased importations of foreign goods. These imports, judging from the five first months, would be seven millions more than they were two years ago, when the Bank of the United States had seventy millions loaned out; and they were twenty millions more than in the time of Mr. Adams's administration. At the rate they had commenced, they would amount to one hundred and ten millions for the year. This will exceed whatever was known in our country. The imports, for the time that President Jackson has served, have regularly advanced from about $74,000,000 to $108,000,000. The following is the statement of these imports, from which Mr. B. read:
| 1829 | $74,492,527 |
| 1830 | 70,876,920 |
| 1831 | 103,191,124 |
| 1832 | 101,029,266 |
| 1833 | 108,118,311 |
Mr. B. said that the imports of the last year were greater in proportion than in any previous year; a temporary decline might reasonably have been expected; such declines always take place after excessive importations. If it had occurred now, though naturally to have been expected, the fact would have been trumpeted forth as the infallible sign—the proof positive—of commercial distress, occasioned by the fatal removal of the deposits. But, as there was no decline, but on the contrary, an actual increase, he must claim the evidence for the other side of the account, and set it down as proof positive that commerce is not destroyed; and, consequently, that the removal of the deposits did not destroy commerce.
The next evidence of commercial prosperity which Mr. B. would exhibit to the Senate, was in the increased, and increasing number of ship arrivals from foreign ports. The number of arrivals for the month of May, in New-York, was two hundred and twenty-three, exceeding by thirty-six those of the month of April, and showing not only a great, but an increasing activity in the commerce of that great emporium—he would not say of the United States, or even of North America—but he would call it that great emporium of the two Americas, and of the New World; for the goods imported to that place, were thence distributed to every part of the two Americas, from the Canadian lakes to Cape Horn.
A third evidence of national prosperity was in the sales of the public lands. Mr. B. had, on a former occasion, adverted to these sales, so far as the first quarter was concerned; and had shown, that instead of falling off, as had been predicted on this floor, the revenue from the sales of these lands had actually doubled, and more than doubled, what they were in the first quarter of 1833. The receipts for lands for that quarter, were $668,526; for the first quarter of the present year they were $1,398,206; being two to one, and $60,000 over! The receipts for the two first months of the second quarter, were also known, and would carry the revenue from lands, for the first five months of this year, to two millions of dollars; indicating five millions for the whole year; an enormous amount, from which the people of the new States ought to be, in some degree, relieved, by a reduction in the price of lands. Mr. B. begged in the most emphatic terms, to remind the Senate, that at the commencement of the session, the sales of the public lands were selected as one of the criterions by which the ruin and desolation of the country were to be judged. It was then predicted, and the prediction put forth with all the boldness of infallible prophecy, that the removal of the deposits would stop the sales of the public lands; that money would disappear, and the people have nothing to buy with; that the produce of the earth would rot upon the hands of the farmer. These were the predictions; and if the sales had really declined, what a proof would immediately be found in the fact to prove the truth of the prophecy, and the dire effects of changing the public moneys from one set of banking-houses to another! But there is no decline; but a doubling of the former product; and a fair conclusion thence deduced that the new States, in the interior, are as prosperous as the old ones, on the sea-coast.
Having proved the general prosperity of the country from these infallible data—flourishing revenue—flourishing commerce—increased arrivals of ships—and increased sales of public lands, Mr. B. said that he was far from denying that actual distress had existed. He had admitted the fact of that distress heretofore, not to the extent to which it was charged, but to a sufficient extent to excite sympathy for the sufferers; and he had distinctly charged the whole distress that did exist to the Bank of the United States, and the Senate of the United States—to the screw-and-pressure operations of the bank, and the alarm speeches in the Senate. He had made this charge; and made it under a full sense of the moral responsibility which he owed to the people, in affirming any thing so disadvantageous to others, from this elevated theatre. He had, therefore, given his proofs to accompany the charge; and he had now to say to the Senate, and through the Senate to the people, that he found new proofs for that charge in the detailed statements of the accruing revenue, which had been called for by the Senate, and furnished by the Secretary of the Treasury.
Mr. B. said he must be pardoned for repeating his request to the Senate, to recollect how often they had been told that trade was paralyzed; that orders for foreign goods were countermanded; that the importing cities were the pictures of desolation; their ships idle; their wharves deserted; their mariners wandering up and down. Now, said Mr. B., in looking over the detailed statement of the accruing revenue, it was found that there was no decline of commerce, except at places where the policy and power of the United States Bank was predominant! Where that power or policy was predominant, revenue declined; where it was not predominant, or the policy of the bank not exerted, the revenue increased; and increased fast enough to make up the deficiency at the other places. Mr. B. proceeded to verify this statement by a reference to specified places. Thus, at Philadelphia, where the bank holds its seat of empire, the revenue fell off about one third; it was $797,316 for the first quarter of 1833, and only $542,498 for the first quarter of 1834. At New-York, where the bank has not been able to get the upper hand, there was an increase of more than $120,000; the revenue there, for the first quarter of 1833, was $3,122,166; for the first of 1834, it was $3,249,786. At Boston, where the bank is again predominant, the revenue fell off about one third; at Salem, Mass., it fell off four fifths. At Baltimore, where the bank has been defeated, there was an increase in the revenue of more than $70,000. At Richmond, the revenue was doubled, from $12,034 to $25,810. At Charleston, it was increased from $69,503 to $102,810. At Petersburg, it was slightly increased; and throughout all the region south of the Potomac, there was either an increase, or the slight falling off which might result from diminished duties without diminished importations. Mr. B. said he knew that bank power was predominant in some of the cities of the South; but he knew, also, that the bank policy of distress and oppression had not been practised there. That was not the region to be governed by the scourge. The high mettle of that region required a different policy: gentleness, conciliation, coaxing! If the South was to be gained over by the bank, it was to be done by favor, not by fear. The scourge, though so much the most congenial to the haughty spirit of the moneyed power, was only to be applied where it would be submitted to; and, therefore, the whole region south of the Potomac, was exempted from the lash.
Mr. B. here paused to fix the attention of the Senate upon these facts. Where the power of the bank enabled her to depress commerce and sink the revenue, and her policy permitted her to do it, commerce was depressed; and the revenue was sunk, and the prophecies of the distress orators were fulfilled; but where her power did not predominate, or where her policy required a different course, commerce increased, and the revenue increased; and the result of the whole is, that New-York and some other anti-bank cities have gained what Philadelphia and other bank cities have lost; and the federal treasury is just as well off, as if it had got its accustomed supply from every place.
This view of facts, Mr. B. said, must fasten upon the bank the odium of having produced all the real commercial distress which has been felt. But at one point, at New Orleans, there was further evidence to convict her of wanton and wicked oppression. It was not in the Secretary's reports, but it was in the weekly returns of the bank; and showed that, in the beginning of March, that institution had carried off from her branch in New Orleans, the sum of about $800,000 in specie, which it had been collecting all the winter, by a wanton curtailment, under the pretext of supplying the amount of the deposits taken from her at that place. These $800,000 dollars were collected from the New Orleans merchants in the very crisis of the arrival of Western produce. The merchants were pressed to pay debts, when they ought to have been accommodated with loans. The price of produce was thereby depressed; the whole West suffered from the depression; and now it is proved that the money was not wanted to supply the place of the deposits, but was sent to Philadelphia, where there was no use for it, the bank having more than she can use; and that the whole operation was a wanton and wicked measure to coerce the West to cry out for a return of the deposits, and a renewal of the charter, by attacking their commerce in the market of New Orleans. This fact, said Mr. B., would have been proved from the books of the bank, if they had been inspected. Failing in that, the proof was intelligibly found in the weekly returns.