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 WASHINGTON, Feb. 6.

 Mir. Tallmadge of New York, took the floor and addressed the Senate for about one hour, with distinguished ability.

 MT. T. spoke at some length upon the re- mark in the Presidents message that the New York election was the result of the ex- ertions of the New-York banks. He said New York had 56 counties. All but lS have banks: of them were anti administration, and administration. In the 6 counties where there were no banks, the opposition gain-Whig gain-is nearly five thousand, and yet the President says that the banks brought about the result of this election. In the counties where there are banks the Whig gain was in proportion not one half. Sir, said Mir. Tallmadge, there may be an excuse for this declaration, when it is made by the organ of the Government.-there may be an excuse for it, when it comes as it does from the Loco Foco organs in the city of New York but when it comes from the President of the United States, hear the charge with aston- ishmcnt. Sir, repel it with Indignation repel it, although it comes from the Presi- dent himself. He should have known the people of New York better, and he did know them better. l call upon every representa- tive from New York to bear witness to the falsity of the charge. Come from what source 1t may, be it high or low, from the Ex- ecutive or from one of the least exalted, I shall repcl it. What situation do we pre- sent to the world? Tine President fthe Uni ted States holding forth to the world the de- claration that the Banks hribed the voters of his own State to vote against his own mea. sures. What message to be sent to Europe and the world-to England, where we are largely engaged in trade!

 No, continued Mir. Tallnladge, this is not the cause. Far from it. But will tell you the cause It originated with the Loco Fo- cos-the English Radicals-who began a war against all Banks--in favor of misnamed ed equality advocating hard money--exclusive specie payments-experiments. &c. This party were opposed to the U. S. Rank-so were the Administration, and thus union was brought about between the two parties. The Message of the President in September

 1.-the squinting at a bankrupt law in that mes- sage-which law the party with all its nerve has not yet had the courage to bring forth It IS these measures, continued Mir. T., this war upon the Banks-this union with Loco Focoism-this denunciution of men who did not believe as the party did-it is this which has prostrated the country and brought us where we are. Here is the cause of our dis. tresses. Your specie circular, your iron handed, gripping execution of the laws has done it; and because all of us do not do as we are told to do, and swear crnlity to every thing not destructive, we are proscribed-de- nounced-.-impeached, and impalcd. There Is to be neither freedom of speech Tor free- dom of thought without denunciation-bttcr, personal. vindictivc-and we who will not walk in the footsteps of the illustrious suc- cessor of the more ilustrious predecessor. arc to have imprccations heapcd upon our heads because we will not do what the Exec utive bids us do.

 In another part of his speech MT. T. said we arc called Couservatives-whether in honor or derision care not. We are called by some Conservatives" and called so be- cause our numbers are snnjl. Sir, must say that think the name of" Conservatives" much better than " "Sub. Servativrs," which name has been tcndered to the friends of tho Sub-T Treasury. We have nlso been called what we are. a Spartan Band, ard when my colleague asks me, as one of that band, 10 sur render my arms. l must give him the Spar tan anawer. Come and take them."

 Had the President, continued Mr. T. re- commended the State Banks instead of the Sub-Trcasury scheme, he would have found supporters. My honorable colleague wonld then have raised the banner of his country, the stars and the stripes, instead of his banner of gold and silver.

 In conclusion, if these things are 10 be per- sisted in here, continued Mir. IT, llmadge-if these experiments are to 20 on-l warn gen. tlemen to remember the Ides of November, when voice will be heard in New York from inc Atlantic to the Lakes, loud as the roaring cataract which pours its torrents in tones of thunder over her western borders.

 Mir. Wright briefly replied, by saying that he believed his colleague had misunderstood the President in his remarks upon the State election of Ncw-York. decline. however, continued Mr. w., entering upon discussion upon this subject, because it is foreign to the bill before the Senate.

 Mir. Clay said he rose 10 express his thanks to the Senator from Eew-York for the com- ments he had made upon the Presidents Mes sage in regard to the recent elections in New-York. The remarks of the President were unprecedented, and allow me to add. continued Mir. C., undignified.

 His colleague, in declining to meet him Cp- on that point, has proved most truly that "discretion is sometimes the better part of valor" The chairman of the Committee of Finance declines discussing the question, be- cause, he says, the matter is foreign to the bill before the Senate. How can the Presi- dent then, in his message to Congress, in-- terfere with this subject, if it is an alien mat ter! Sir, said MT. Clay, I solemnly declare that if the President had said of the elections in Kentucky what he has said of the elections in New York, would not have suffered one hour 10 have passed over my head without having introduced resolution before the Senate speaking of this act of the Executive

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