SPEECH OF MIR. SMITH OF CON.
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SPEECH OF MIR. SMITH OF CON.

 On presenting some memorials. respecting the

 remoral 9 the public deposites.

 .s.s.. IN SENATE-FebruarS 24. 2,

 Mr. Snith said, that he had had committed to his care, with view. Oftheir being present ed to the Senate, sundry petitions and reso- lutiOns.

 With respect to the character of the nine hundred signers of the New Haven petition. he would beg leave to say, that they included all classes; that they were respectable citi- zcns, and engaged in all kinds of business; and that they were ecOnomicai, c6ntented and industrious. It was io the enterprise and industry of these citizens that the town of New Haven was indebted foe it's prosperity. Na populati0n Aof the same size through all the limits Uf this country were more prosper. ous than were the people Of' this town. at the moment wheU the removal of the depOsiies was made. If the gentleman from Georgia would take the trouble to, go with him to the shops of the mechanics, and 10 the nlanufac- turing establishments, he would find that the People there were nat very great politicians he would discover them tn their stOres, their warehouses, their manufactOFies, their shops, c0mdmeliDg their busiOcsc with skill which was nut surpassed by that of any people un- der Heaven. And if the gentleman would go with him tO the houses Of the mechanics. if he did not find them to be splendid palaces, he would find dwellings neat in their cOnsirucs ton, and domestic in their arrangement, as comfortable as palaces; houses reared hy their own hands. painted white. and their cOHrtyards tasteftslty adorned with shrubbery; and he would find these residences kept by the wives and daughters in state of the most attractive neatness and cleanliness.- Pass from the town of New Haven to the city of Hartford. and compare the habits. the manners and the morals of the citizens, said Mr. s. and you will be convinced, that neat CT. more industrious, and more enterpri. sing race of people cannot be found any where.

 He wond new say word on the subject of the Banks and the Insurance Company, which had transmitted the resolutions he had to offer. They are institutions doing very extensive business throughout Connec-. ticnt and the adjoining States. They are conducted by men Of the first respect ability. and from long tried experience. fully con- versant with the business and currency of the c"uDtry. They speak. as it were, profession ally and disiDterestedly they surely would not attempt to create alarm. by joining in 3 conspiracy to destroy the business men of the country. They would not destroy the mil lions due to their institution by creating a false alarm. They speak from fnll cOnsic- ton that the present measures Of the Admin istlatiOn will destroy the currency Of the country, and bring incalculable evils on every class ot our citizens. Er

 Nothing short of sense of duty imposed on me with the charge of these snemoTiaDs. (said Mir. S,) would have induced me to trouble the Senate, and in the discharge Of this duty. it is not my intrntiOn to give Of- fence to, any oOes shall nOt trouble the Senate at this time with any remarks on fine resolutions introduced by ihe honorable SeD- atOr from Kentucky, but will eoniine myself to a few Obsers aiiOns growing Our of the ies- timOny now befOre us.

 And first that there is great distress pre- vailing almost every where, can hardly be de- nied by any one who will open his eyes to passing events. That confidence iV every where impaired cannot be disputed. All bank ing insiii iiutiOOs rest more OT less on cOnf- deuce; and business transactions betwee0 man and man rest essentially OB the same foundation. Impair confidence. and distress in ihe business of the cOmmunity must foi- l0w. You perceive sure indications Of dis- tEess in the well established fsets tbst those who want money cannot borrow t; tO the depreciaiiOa Of stocks and properly of every kind in the Arrangement of the currency q ip the stagnation of business; and in the. high price Of money. | This state of things is only advantageous to the usursF. who is ready tO take adsan- tage of the distresses of others to make isp- mediate gains. IcaDnOt better iIlastrnte this bFanch of the subject than by stating the mode of doing bosinsss tn Connecticut. Our importing merchants sell the principal paFt of their esEgoes in New.Y York for neGotiable rs-