The fatal error‘-of the Jackson party has been
not to follow the dictates of its sober judgment;
to give their support and influeiicc to measures.)
wliichin their hearts, tliey~~dtsspproved. (Mr.
C. hero looked dir ctlyat Mr. Riv}-.s and Mr.
_'l‘3Hma'(_lge.) He appealed to the Seiiattors op-
posed to him to corroborate this remark; and
referred to the Lll-.‘Sl'.l"-..‘iCl.l0ll of the Bank of the
U,,p,ed .s;,,¢,,_.s~..stlie removal of the deposites, as
nicusurcs itgninst the willof the majority of the
party. _ «
The Tréilsllry circular.‘ _ ’
proved by any c nsiderable portion of the par-
ry; but was condemned throughout the whole
country; and shill was passed-by.nn immense
‘majority in both Houses to repeal it . _
True. indeed, we have seen numocrlcss m-
stances of that being approved. Wl|l<‘h_ W39 at
first disapproved. Mr. C. here alluded. to a pas-
sage of iuiinense force. to the conduct of Dallas
in regard to the United States Biink._Wh0o flflel‘
having introduced a bill to recharter it, and car-
ried it, was foutid three weeks afterwards ap-
plauding the veto of the Presiilent wliieli_de—
fcateil that measure: and who is now enjoying
the distinction and the salary of a foreign mis-
sion. _ _
Mr. Clay concluded this part of the subject
by declaring .thai the one great cause of our
difficulties was, that one man had governed the
whole country. _ _
Mr. Clav then proceeded to consider the
measures wliicli had been reported by the cunt-
mittee of Finance. _
He said the object was lirst to make nothing
but gold and silver reccivezl.ble~they ilciiouiice
all those bunks who do not iiiiuiedialely pay in
specie—tlien subject them to an onerous and pit-
consiitiiiioiial bankrupt law. and then to lineal
the Secretary ofthe Trea.-ury with tile power to
desirov all the banks wliich might be left stnt'itl-
ing afier tlie.-:e measures have hail their opera-
ion. '
Mr. Clay spoke with great power on these
several pt)liflS_. and then ’wc.nt into a minute ex-
amination ofthe eliccls of the sub-Iri:asni'y.
He has just closed a passage of eloqueiice
which he never surpassed iniliis best days, .ltl
which be depicted the dangers to the liberties
and the safety ofthe people. which -W0?!“ fl"“'
front the increase of power and Executive put-
roiiage. . , , . _ _
In the House. memorials airdpetitions against
the annexation of Texas. were received from
different states. and laid on the table. _
illississilppi Election..—Th_e coiritnittee on
olcciiuns reported a resolution ‘that Messrs
Uliolsoii .-and Claiborne are entitled. to their
goals.‘ A debate arose on the question of con-_
rsideriing the report as in the House. or m_cuIn-‘
.[;1il.!ee of ihe\v.bo_le'. The matter was finally
put over to \.Vetlnesday.
A National Baulc.--\I.r,. Cambreleng. from
the coniinittce of Ways and Means. Telmffed 3
resolution declaring the creation of a National
Bank .-to be inexpedieni. Mr. Everett. ol Vl-
gaid he did not wish -to debate such an issue as
that presented in the .resolution. and moved to
lay it on the‘-table. _ _
The motion was lost, and the resolution will
come tip in order. _
Anti-Deposits BiZl.—This bill was again‘ ta-
ken up iiicizinuiittee oftlie__whole. and Mr. (rat'-
]and of Va. is now speakiiig in support of his
proposition, which is precisely the bill offered
by Mr. Rives iuihe .?"3U9l¢‘-
T,“.,,.,,’_-_I.i1, September 26.
The House of Representatives .‘.““'° l"‘;'='l::"’l‘,‘::l
. __ '.
the consideration of the question of Clli "1
he said never. was sp-
'4
,. I - I .3.§,»I'"...-,. .
_- _
1_r-
' Mr.,Prt=ston said he thought the whole of this
thing was a political trap-for he would be held
up as 9 United States Bank .niau if he voted
against the report of the committee; or his senti-
‘ments iuiglit be unknown, by coriipellitig him to
vote for it. A man opposed to a bank iiiigli:
take it before the end of Ilie session as a deruicr
resort. .
A National Bank is iiol the worst that might
be done, or might not be done. Willi what face
can the arluiinistraiion ask us to vote against a
National Bank. when we know i_-,m but we may
be forced upon it, as the last plank to save us
from the bresikers on which we are about to be
forced in the titidsl ot‘_tbc contest between the
factions in" this Senate for the ‘supremacy, and
the advancement of their own projects.
No man makes the proposition for a Bank of
the U. S. Is it iioi astoiii.-aliiiig that we are call-
ed tipori to vote liir a itegaiive proposition. be-
fore we give a vote for a positive ‘proposition ?
The majority. I believe. are ready to support
the President throiigliout. Iain riot ready.
\Vhenever Isec inthc President a willingness
in am with propriety. I will take my c iursc. i
will renounce mv opposltioii. But,sir. he came
in as a follower in the footsteps. and until I am
satisfied that his measures are for the people.
and not merely for the governiiient, I will re-
tain my ground.
This direct .nc,r:ative. Mr. P.‘ contended. is
calculated iodelnile the people : and in order to
prevcntany eiiibarrassinent. Mr. Pre.-ion moved
that. the committee of Finance. be discliarged
from the eonsitleration of the subject.
Mr. “friglit said that the last amendment of
Mr. Clay was not in order; as it was the same
as the first iilfr-.'eil by him.
M r. Clay said that when it negative proposi-
yioii is reported, it is not usual to ask the sense
of my hotly on the pl'(l[)4i.~‘llll)n, iillltésstllrrrc in an
intention to reverse it. lfthis course had been
taken. no one would have lliouglit of preseiiiiiig
an alfirtnativc proposition, but his present course
was absolutely necessary now, ln-cause he did
not believe it to be true that a iiinjoriy of the
people are against a Batik of the United States.
He considered the fact the very reverse ; and
he rrilled upon the Senate to accede to his
amendment. and say to the pHtpI~“. thin when-
ever they think a ‘Bank of the United States
ought to be established. they should have it.
Mr. Smith of Conn. and Mr. Roane, of Va.
expressed their decided opposition to the Bank
of the United States on grounds of expediency
and constitutionality.
Position QfMr. C’alIioun.—-Mr. Calliouti rose.
and referring to some remarks of Mr. Preston,
said. to prevent misappreliension, inasniucli as it
had been illuded to, he would define his position.
".1 am not an administration man. nor any other
man biil my'owu man. 1 look far alicail, and
make my calculations accordingly. I know my
position well. I am in favor ofthe same princi-
plus now; that I have always‘ advocated.
I, unilerstaiid the adiniiiistratiou party too.
The-.ir rerrkoiiing is run INII; and now they have
no hope but to fall back on the state riglits
iil'll'lt'lpl8S.
I .,'_ack.s-ori'-i party is no more—lie is gone who
was their head and patron—llieir iiiflnericc and
pmmmige are goric. niiil he now declared that in
mm party wen: a great many who maiiitaincd
the principles he .<tip_p0|'l(’(l-
He wrmld use these ()ll‘l friends 85 x'llll€‘S
aigniizst Congressional iisnrpatioit. which he W88
more opposed to than even Exnciitive usurpa-
tion. on the old rcpuhlicati ground of 1827. He
declari-il this to be his olijecl. He was neither
-1
session on Oct. 9th. and are still ellgilgtu
committee of the whole. in discussion on the
Anti-Deposite Bill. _‘
A brief" debate arose on a resolution reported
by the committee of \Vays and '.\'leans, against
a National Bank. similar to that of the Setiate
Finance committee; but was cut off by the
orders ofthe day, before any decision could be
cometo. -
The Senate adopted the resolution to close
the present session oti Monday, the 9th of Octo-
ber.
X‘-.l\.'uzu1Iula'vvI:n: ptcacrxtcd by XVII. AIICU. “"0111
Ohio, remonstrating against the annexation of
Texas to the Union, which were laid on the
table. - I '
A‘ National Bank.--The resolution rcporlctl
by the coriiiiiittee of Finance, declaring ll 5119*‘
pedient to establisha NationalBank. Mr. Cl;:}'
objected to tlieiiegative character ofthis proposi-
tion, and moved to amend by inserting a provi-_
sioii, that whenever it is shown aclear majority
of the people of the United States are in favor
of a Batik of tlie‘United States it ought to be
established.
Mr. Webster moved to postpone the whole
subject till Monday next.
Mr. Preston said he should prefer that the
resolution should be postponed for a period
much longer. -He thought this a proposition to
cut off one of the rerriedi-as proposed, and pro-
posed from a very distinguished qtiarter in the
Senate (Mr. Clay.) -
He was not prepared to say that the establish-
ment ofa Bank of the United States was inexpe-
dient at this time, until he knew what other
measure should be in coriteniplaiioii by ilie ad-
ministration. He. might find it necessary to go
for a Bank of the United States or any thing. in
preference to the measure which may be pre-.,
seni.ed.to, and forced upon us.
He would not let his individual feeling on
such a question affect his course; and he never
would be forced to go for so negative 8 proposi-
tion before a queiziion had been taken upon a
simzlepropositiori. A Bank ofthe United States
niiglit be a dangerous lltik between the people
and the government. but it was not so dangerous
asio separate -the goveriaineiit from the states
and the people. .
A great portion ofthe people look upon a bank
asa forlorn hope; but we may be glad (said
Mr. P.) to protect ourselves under the shadow
oftbia impending mass. He wanted light. He
wished to know the course the ship of state was
to pursue.
A large portion of the people wished for a
batik. His own constituents look upon it as
the only remedy : and he would not consent to
cut off one ground of their hope. He irioved to
postpone the whole subject for ten days. The
motion was lost. _ay.es 15. noes 30.
zi Van Buren nor an Anti-_Van Buren titan-—buI
“II-ilaio, honest I')lllllfiPl'. _ V
PVca'.ncsday. September 27.
1,, me Sgfi3lB“lIl8llit')flal5 and petitions were
mm‘,-vb.d pm," pgffereiit ‘slates. reinorisiraiiiig
aeainsl me, ,,,,.._,ex:_,m,,-3 in Texas to the Union:
1 : ‘ . 1.. ' ‘*
H d “He mm W 4,6 ,,,M’e, ,,,.,~.,,»;!ing to the roll.
- - *-.. ) .
Manuscripts of Jumzcs Mtfdzsoii.--mi. I
ion‘s resolution. iiisiruvtiiig Wf‘ l'.l’””V °"m”“"
tee to ‘riqiiire wlietlii-r the piircn.':se? ofthe unitin-
scripts of James Maili.-mi, has been It‘-"W19 W
coiiforiiiiiy to the law of the last S(8$l()n. ID-‘?l"
king appropriuiioi. for that purpose. and to re-
port a plan. and take sit-ps for the publication of
them. was taken tip and adopted.
Sub- Treasury Sc./icme.-—The bill imposing
adiliiional duties on public officers in certain
cases was taken up; and Mr. \Valker rose
and made a long. elalioraie. and decla-
mm,-,,-y‘ defence of the _ rr-ensures and the
whup, fi,,,,m.;,,] [,0-,,;_.',' ofthe :_”ltIlllll$'ll'all(tll.
Mr. Morris entered iiiio ifllllc i—:.v.,.'.-7-'5-“"°”.‘_’f
an amendment which he proposed l() off? r iiilef
the question should be taken upon the section
which had been brought forward by Mr. Cal-
houn. ,
_Tlie'purpose of Mr. Morris is to prohibit the
receivcabiliiy ofany, times under twelve dollars
from the first day the law going iiiio operation,‘
ant] to repeal thejoiiit resolution ofl8l6.
Noone exliibitiiig a disposition to speak on the
bill. M r. Calhoun said if any one wished to ad-
dress the Senate on the subject, he would vote
for an ailjoiiinnient.
Mr. Webster llwtl rose am] asked wiili some
siptiificaiice whether Mr. Calh.-ori intended to
bring fiirward any ftirtlier iiiiieiitliiieiit 7
Mr. Calhoun rt-plied in the in-._gaiive; but he
only thought soiiieotlier geiiilcinan might wish
to discuss the question, and he was willing to
allow time.
Messrs. Benton and Buchanan opposed this
motion. and said they were ready to take the
question on Mr. Callionrfs so-i-tioii.
Mr. Crittenrlen then spoke with great spirit,
energy. and cllect agtiinst tlic. riieasure. and the
whole of the fiiiauciul schemes ofilic adminis-
iraiion.
"In ilie House. petitions, and memorials were
presented from rlillerciit states, pra_viii,2 aizairist
the aiiiiexation of Texas : and on other siilijecis,
which were laid on the table without being
read or referred.
Pay//tent of specie lo }l'Icnibe1s of C011.grgss.—-
Mr. Bid-’.l,le'movcd ‘I0 suspend the rules of the
House in order to permit him to ofli-.r a resolu-
tion for referring the report of the Secretary of
the Treasury on the subject ofpaying members
ofCougress in specie to the cotiiiriiitee of \Vays
and Means, with instructions to inquire and re-
port how far ire discrel{.oiiary powcr exercised
by the Secretary. may, without ileiriineni or in-
Mr, '1‘a1]madqe moved in amend M.-_ C13 in. ‘coriveiiience to the )Ul)llC service, be sulfected
P ) l
resolution by st i_il_\'in;,z out the whole. and insert-
ing :1 resoluiioii declziring that in the opinion of
the Senate. a riiajoriiy ofthe people are against
the Batik of the United States; and therefore it
ought not to be granted. This was carried ayes
20, nays,13. Mr. Calhoun refused to vote on
the atnendmeiit.
Mr. ,C|ay asked the Chair to state the resolu-
iiori as it now stood ; and M it. Hubbard who oc-
cupied the Cliairhaving stated it in the terms of
the resolution as reported-by.tl:ic coiniiiiiice of
Finance, with Mr. Talliiiadg-e’s ai|)endnic|)l
appciir.'ci,l thereto. _
Mr. Clay moved a further amendment that
whenever a clear majority of the people of the
United States are in favor of a Bank of the
United States. itonght to be graiitctl.
Mr. Calhoun said he had not been prepared to
decide upon the opinion of the people. He
would vote against the bank, if he thought there
was a decided iiiajoriiybf the people in favor of
such an institution. He tliooght it ought to be
known to the people what course Congress llI-
iends to take. He would not vote on ‘a question
by the opinion ofthe people, bcfiiliilsc tlicir opiu-
io leg_lslati\'e regulation.
Mr. Camlircleiip rose to make 21 siiizgestion to
the gentleman of Pennsylvania. (This was
entirely otit oforder when a question o."suspcn-
sion of the rules is pcndirig ; and the. cliaiiriniiii
ofthe committee of \Vays and Meaizs was re
luiked back into his seat. not. however, without
raising his voice and declaring that “the subject
would be reported npoii." This flatzratii breach
of order and decorniii excited at deep feeling of
resentment.)
Messrs. Harrier, of "Ohio. and Smith, of Me.
ilirew obstzibles in the way of Mr. Biddle by.
raising questions oforiler. '
The question was taken at last on suspending
the rules ; and negatived, yeasj S5, iiays 101.
So the House have resolved to leave the dis-
erctiuii with the Secretary.
'1're(zsurg Bur'ldings.—i‘/Ir-. Johnson, of Mr].
iilferctl a resolution calling on the coriititissioriers
of ptiblic builtliiigs to report the plan of the
Treasury building, now in course of erection ;
adopted.
lL‘.1:ploring Expo//ilion.-—-M r. \Vil’liarns offer-
cd ii rcsoluiioncalling on the Secretary of the
ion would not cliangc his vote
; Navy for inforiuzition ofthe causes ofthe delay
in the sailing of the exploring expedition. Lies
over one day. '
F.r_press Jlail.-—.—,\ resolution was clfcrerl and
adopted calling on the Postmaster General for
inforniatioii respecting the course ofthe express
mails. and the expense attending the establish-
ment. v
Sub-Cl'reasury St-}i.eme.——.\"lr. Stanley of N. C.
ofl'erei.l a resolution calling on the Secretary of
the Treasury for iuformaiioii relative to the de-
tails of the svstem—the nuriilierof sub-treasurers
—ol‘licers--‘new buildings, dcc. which would be
required. This Lies over one day. _
A National Btmlc.-—Mr. Shcrroil \Villiums
asked leave to offer it series of resolutions declar-
ing a National Bank expedient and proper : but
leave was not granted. .
The Speaker laid on the table a memorial
from J. (.“l()l(lEl’()l‘T\l- Y. giving his vii-wsofliriaii—
cial sub_jer:ts, which; ()l‘I_(n()llt)l) of Mr. \Vliiitle-
say of Ohio. was referred to the committee of
VVa_vs and Means.
The resolution of the committee of \Vays and
Means. declaring the estziblisliment ofa National
Bank iriexpeilieiit, came up, but Mr. Sergeant.
of Penn. who was entitled to the floor. said that
he was so indisposed that he could not go on;
and at the suggestion of Mr. Canibrcleug, the
whole siiiijorzt was postponed to Satttrilny next.
when it will take prccetlcnce ofall other busiiiess,
North Eastern Boumlar_y.--M r. Smith of Me.
movoil that five thousand atlditiciial copies of
the President's Message. coiiimunicatirig the
correspoiiilerice on the subject of the North
Easterii Boundary. be priii'.ed—whicli was
agreed to.
]l1'ississ1'p/ii Elcclion.—-Tlic resolution report-
ed by the reoiiiiiiiltee on Eler.-lions. declaring that
M essrs. Gliolsoii and Claiborne have been duly
(‘lC—(‘l6'til lll(“_l‘nll(‘l’$ cf the 25th Coiurrcss. and are
therefore entitled to their seats, was taken up {in
c(|”:~'l(lf"rt"lli()no
Mr. Maury. ofTenn. on the pfii‘l_nf the mi_nori-
iy of the contuiitte. expressed their dissent to‘ the
rcsolinion ofthe iriajoi'ity.' and entered at length
int» the reasnrt ofilmi dissent.
He i-oiicludetl by moving as an amendment
to strike. out aftertlie word resolved, and insert a
resolution declaring that Messrs. Ghol.-on and
Claiborne had not been properly elected inciti-
hers ofthe present Congress. and were not "en-
titled in seats in the Hoiise as such.
Mr. Peiiiiyhacker replieil,_and spoke in sup-
port oftlie claims of the sitting nieuibers. The
rlehate was interrupted by the arrival ofthe hour
for going to the order of the day.
The Aiiti-Deposite bill. which was not ilirongh
the committee of the whole lastniglit. was then
taken tip by. the House. and Mr. Jeniler ad-
ilresseil the House wiili great spirit and force.
in opposi.ion to the ineasure.
4
Thursday. September 28.
In the Senate. the Vice President took the
chair at 10 o'clock.
Annexation of Tcras.-—A number of memo-
rials and petitions were presented. rcmonstraiiiig
against the aiinexation of Texas to the Union.
Privilege of the floar.——On motion of M r.
Calhoun, the roles respecting the adtiiission of
pi‘i\'ilo,«_ri=il per.-toiis to ilie floor of the cliaiiiher.
was anienrleil, so as to admit jotlges in law and
equity ofthe dilii.-rcrit staiesf
Tlic Senate then took up the bill establishing
the Stilt-'l‘re.-a.<iiry scheme.
.JWr. l'Vebster‘s opinions.-—Mr. \Vebstcr rose
and delivered his sentiments at length. on the
bill and the general firiant-ial policy of the go-
vernment. He said this saute measure involves
a question far lrariscciiiling the lll')[)Hl‘l21llL'e of
the present exigencies of the country. He
wished to draw the attention built of (Jongrc.-s
afiil the country‘ to this question: because it
ullecis the pl'll1(‘l[)les of the goveriimcnt. and
therefore the ; iosperity and liberty ofthe coun-
iry in all time to come. He referred to the
high career the country had run hitherto; and
said it was one part of the conilnct of the govern-
fllenl to take care of the currency.
1,, ,‘}_-is CUntl('Cllt)l’l he spoke ofilie two previous
,,,,,;,,,,,,i jn3tiititions—lio-w the manner in which
-,},,,y pad ,,,am,gt:<l their afiuirs was eiitircly un-
,.,,.1,plaioed of. Tlielast institution ol this kttiil
Onlerybnoxiriusi()li'!f:' g0\'Cl'llll‘lel'll,llltleflllZ
re,‘-,1 ,,,a5s,,fu,g p9,,-ple had been entire
tli the mode in wiilf-‘ll it Cviduclcd
had Dec
but the
lv satisfied wi
its business. -
He next‘ spoke of the State Bank sys'-em 3"
a substitnie for these institutions; and dwelt upon
their utter and complete failure. .
The a(linini5lr;il|n|‘l, now. szilil llfr. \Vt-‘aster,
having seen the failure of their state bank ex-
__W(.|l)lS ol'tradv.=. and l)UL-‘lll(:SS. as well as the pay-
,,\f_-lineiit. must go back to the old appro_ved sys-
"st take somethinu new. ariilprocecd
mm‘ or lm“ ‘Wt Con refs has l'i()ll‘lll to do
on the groiind l.'-- _ ' 5 "" ‘' ,1,‘,.§g,' ‘
with the regulation ofiii-" t--" r°.”°.3‘- V}: *”"_"
he mai,m,'i,,en', was inconsislfi-7-’ ‘_‘“ l.’l‘_“."
constitutional pi'ovisl0D5a am ‘he “'l’°l3 l”“‘""mc
oflliegoverntiient. _ _ _
But yet it was plain, that if the a_dmiiiislra-
lion would not take a National Ba.'.i.'.',- 1' THUS‘ Te‘
tiouiice having any thing to do with the Wt-lulu‘
tioii ofthe currency and the excliarigcs. b8_5'0“‘l
the mere matter of receiving aiiil paying avvaj,’ .
golil and silver coin.
This then. said M r. \V. is the question. Has
the govcrnnicnt the power and the obligation to
take care ofthe currency ol‘_,_t,he country. or has
it not 7
Mr. Webster referred to Mr. Calhoun’s dc-
claratiou, that he was an honest Nullifier. Hi-
ltad no doubt the country gave M r. C. fi.l|
('l't‘(lll for surrli a r-liaractcr. He did so; and
Mr. \Vebstvr tliou,«_vht this led Mr. C. to so
really and earliest an embrace ofthe nicssage for
he ilionalit. that the ll()(.'ll‘lI!C ofthe iiicssa_«_:(-. did
tend to iitillify and cxpunge the constiiutioii.
It strikes down the Constitution as it hail been
adiriinistcretl for fifty years; and draws black
lines round, and obliterates its most importaiii
provisions. He opposed it as much from its iii-
flueiicc oti the general character of the govern-
ment in its future liistory,as lroin any immediate
cflccts it may have on the cotidition and pros-
perity of the country. '
The present crisis, he said. is merely a case
of commercial distress. The people and the
government have property and resources, but
cannot use them. The government cannot
collr.-ct lawfolly—it cannot disburse lawl'ully——
and the people are in the satnc condition. dc
spolic of the iiieasui'csol'tlie Fiiiaiice committee
as merely l(;‘l1Llil),f_{l()g()\’€l‘l)lI‘lelll relief.
The distress of the govcriiment, he said was
but a small part of the gericral distress. Yet
we who form a government for tliehciielit and
protection of the people. look out l'or number
one and ntiriiberlwo. and allow the other r.-iiicty-
eight ofthe hunilrcd to take care of themselves.
Mr. \Vclistcr then said he v.'oii"ld proceed to
explain and (left-nil two propositions: the first is.
it is the duty of the g1()\'f!l'lllll(.’lll to see that rt
proper cnrrciicy suitable to the titties, and to the
ment of debts due the govcrnuicnt, be iiiain-
tainr-tl and prescrvr-rl.
The serzond was, that the niessagc, the hill,
and the aiiientlnierit all propose to siirrenrler at
once and forever‘ all obligation to attend to and
ill.-‘cliargc their duties.
He went fully into the illustration of these
points. He then exatiiiued the %ll‘}.Zllll18lIl ofthe
message that govertiiiiciii was under no obliga-
tion to transfcrtlie funds of an iiidividual for him
from one place to another;- and sliowetl its
sophisiical character. He iiinintaiiaed that go-
veritiiiciit was bound to furnish a sotitiil cur-
rency. antl rcgulzite,it, and the people would
trai‘iel'vr tlii-ir furidis for tlicnieclvcs.
I‘ .
‘j
':the course ofreinat-ks Wltlcl’t-I10 commenced yes- of the Executive, and to be placed under the‘
He gave a most luminous exposition of the
nature of ext.-liangc, and the niisi-hiefs wltich re-
suited from the disturbances of the domestic ex-
changes. He declared iliere was nosuch mil-
dew to bliglitthe prosperity of the manufacturers.
the l'tUSlll8sS_lll(:l'l of all kinds. as this distur-
bance of excliaiige. \Vc must have exchange,
even if \ve have a gold and silver currency;
and the transfers must be facilitated on some
basis of paper credit ; and Mr. \Vc-lister contend-
ed that it sound bunk furiiishetl the best means of
exchange. _
He recurred to his ground that it was the duty
excl-ariges; sud» inaintained that this was one
ofthe origiiialolijects of the Constitution : and
entered into a long argument on this coiistiiu-
tint-tly and cinpliatit-ally enjoined. At iliis
point he took up the i'easoiiii'ig of the iifessagc.
and coiitrovertetl and overthrew it. A
He showed most clearly and satisfactorily
that ilic object of the Constitution was to give
us one coinnicrce. one L-iirrency.; not one for
this state, and another for another state: and
how can this be secured or given but by Con-
gress?
Mr. \Vebster reminded the Senate that Gen.
\‘/'€l.'~'l‘llll,9,l(lll recomriiciided to the attcutioii of
Congress, the subject of the currency and public
credit in 1791 ; and he ,*Z&l\-‘P a condr-iisi-il ab-
stra'ct ofthe history oftlic first Batik ofthe U. S.
for the purpose of sliowing that its prime nbjecl
was to f'Sl2ll)llSll a sound and tiiiiforin currency.
and to facilitate €.‘((.‘.ll&]ll}Z8S.
He corrolioiaicil the arguirient by several
I]ll()_l1!ll()ltSJfl'()lll public (lt)Cll,lllt;lllS. showing the
rzonteiiiporiiiicons opinions cntertaiiicd respect-
lug this lnsllliilliiii.
it was not ‘re-partied as a mere fi.-it-al agent for
the r-onvenir-nu-oi‘ the goveriiiiiciit in collecting,
keeping and ilisliiii‘.-iii;_v the public rt-vr-itue; but
as a means ol csialilisliiiig :i sounil and uniliirtii
currency. and l‘él('l'llEllllrg_ i-xclian,r_rt-s—ii was iii-
iendcd for the bi-iii-fit of the people, lor their
trade and coiriiiicrce. '
Those who opposed the estahlisliiiient of the
first bank on coiistitutioiial }_{l"()tllltl.<, did never
question, llte power of the ;;overiiii'ii--iit to take
care of the current.-y. and the €X('ll'&lll,£!€S.
Mr. We-b.-tcr here reiiiinili-.d the Senate that
he was not rec-iinitiwiiiliiig a National Bank : he
was not iirgiiig that there was no other iiioile
of remedy or relief; but he did contend that
(lie dilly is llIt“Ullll)9llI tipiiil Congress to tliisimit-=-
thing for the people, for their trade ‘and com-
inerce. the-ir currency and ext-liaiipcs.
M r. Webster pro:-r-eileil iosliow that the same
views and con.-‘itlr-rzitioiis at-tiiateil those who
I-‘Sl3lllllSllf‘—(l the last Bank of the United States-
tlieir object tvn-I also to esinbli.-lt and regiilaie a
ctirrciicy. and liiciliiaieext-liniipe ; and here also
he read from several (lt)(‘Ulll(‘lllS to prove that it
was regard:-il as the duty of (:C‘lI,‘.’l'PS$ toacconip-
lisli that object. Nothing coiilil be more clear.
forcible. and triumphzint. than this part of his
zirgiiineiii. _
In the course ofit. be refeireil to the speech of
Mr. Calhoun. tht-n chairniaii of the coiiiiiiiitee
of \Vnys and i\'leans. who -reported the bill
estalilisliirg the Bank of the United States. to
show that he considered its object to be to reign-
late the mirrency.
Mr. _’Calhoun rose to explain. He hail de-
clared. be said: at that time that he wasopposi-il
to a national batik de novo, and only azlvocaterl
it as a question of ciirrenc_y. He was always
opposed to it oti r-onstitutioiial grounds; and
now. that the ,«_zoverninciit was separated from
all banks. his way vvns.i:lear.
Mr. Webster pi-ocecili-.d. He made -no refer-
ence to the Sen:ttor’s Rple(‘(.'ll for the purpose of
contrnstiiig it with his prcsr-nt vii-ws. He only
said be (Mr. \V.) fully concurred in the whole
of it; and his 1)lll.llii|‘ll,_V for the purpose which
,Mr. VV. wisht-d it to serve, was in no way af-
fected by the explanation.
He contended that the main points of Mr.
C:illionn’s speech and report on the occasion rc-
fi.-rrcd to. were “currciic_v,” “currency”--the
dutv of the government to take care of the cur-
re-iicy.
He then referred to tie niessagc, the letters,
and the whole practice of President .Iill‘kS0n1 I0
sliowthey all proved that he felt. it his duty to
rr-i_rul:ile and rvfinrin the Clll'l‘- ncy During the
debate in 1834.in reference to the state bznk
lit‘-SP8 the systmn would sinvc. as the means of
fiiriiisliing “ a l)(-‘l.l.(?l‘ Clll'l'i'lll y” for the people.
. He contrasted this language of the adminis-
tration {Ni , ,
docliiratioiic 3 cw. NOW 3?"‘ll"”f-'13h°‘”‘d "ii"?
Nor it wordis srtiil for the people. _
Mr. \Vcbstcr said that the people would not
long: remain in this state of suspf-nst-*. He knew
not what dt-termitiatioii they would take; but it
W-gs certain that we must either go over to Mr.
Be,,,‘,3_-3 and be ernliraced by.his gold and silver
arms; or talk‘. up some institution for the benc-
fit and advantage oft."-e l;‘_00Pl9- ~
Mr. VVcbster concluded with 8 m0-Qt p0W‘3l'flll
exposition of the evils which would flow. from
L3,. 5uh.i.~..asury system, and expressed his de-
te,.m,'_-;.r«tion to tippost‘ it in every shape and form.
M,._ I_1',n-"[3.-ii-r], of Ne-iv-Hsiiipshin-., l;‘H‘llOW(~’(l,
ch;,.fiy in repgy to Mr. Rives. and in defence of
the Secretary of tint‘ T"e33‘“'.Y- _
The House were engizg-"Fl dlmng m°5l' "T We
day with the Mississippi vli:ci‘,,toi1 Cttsci Wllwll '8
yet undi-cidr-d. J
The anti-d--posite bill was taken up. ai;'.- Ml‘
Dawsoii, of Georgia. inadc ll SpBt‘Cll in opposi-
rion i.o it.
After some ftirther debate, the main question
being on ordering the bill to a third reading, the
years and niiys wsrn tiilicn thereon. and 'were—-
yrzzis 119, nays 117. So the bill was ordered to
H. third reading. Mr Pickens, of S. C. moved
a l‘€‘CUllSl(l0l‘ttl.lUn, which lies over till tomorrow.
‘ F ridrfy. September 29.
In the Senate. some meiiiorials were present-
cd by Mr Mclicart. renionstrating against the
adiiii.-sion of Texzis.
M r. \Vcbster submitted a resoliitioii directing
an inquiry iiiio the aniouiit of fees ('ll’.H',l1ell by
Disli'ict'Attornies on the renewal of inercliauts
bonds.
M r. King, nfAlabaina. believed that an in-
vesiigaiiori ofilie subject was louilly called for.
The resolution was. on motion of M r. \Vi-b
slcr, coiiiniittcd to the coriiiiiittee on the Judi-
r-iarv.
.'5'ub~ Trerzsury S3/stcm..—'l‘lic Senate proceed-
ed to consider the hill iniposiii,¢z adilitionzil diuies
as dcpositories, in certain cases. on public offi-
cers. _ . 0
M r. Biiclianaii spoke at length in favor ofthe
bill.
Mr. Preston iippnsctl it
the Sciintc arljouriieil. _
In the House-, R.'~‘St-llltlolls calling for the cor-
l'CSp0ll(.leli|"|' rt.-liitivc to the bill aittliorizing the
i-‘sue of Tl't"dSlll'_V notes, and to the expenses
probably zitteniling the proposed Sub-Treasury
scl‘-eiiie, suloptr-d.
Mr. Pickeus’ uiotioii to reconsider the vote of
yesterday oti the Anti-De-po.-it bill taken on.
After some l't.'n'lttl‘l{S bv Messrs. Pickens. J. ‘Q.
Adams, Everett and Gray, in f‘.-ivor of reconsid-
Prittion, the~Housc took it recess.
Suturrlag/. Sept. 30.
In the. Senate, mnmorhils were presented
ag:iiiist the rtiiiiexiitioii of Texas. _
Mr. Preston said that as soon as the forms of
proceeding would allow, hesliouldbring forward
iiutil 3 o'clock,‘ when
of_Congrc-.53 to take care ofthe currency and the ’
ticnal question, to show that the duty was dis-:
tci-day 0.; the Sub-Treasury schemel V
_ Mr. Brown replied. and the further considera-
tion of the bill was postponed till Monday.
management of directors elected annually, by
Congress.r These directors are to appointtlie‘
The Senate then took up the ameridinent of Olficers Of the branches, and have “ power to re-
the House to the Anti-Deposit Bill; which post- 3
poucs the payment: of the 4th instalment tilll
Jan. 1st, 1839. instead of " until wlieiievei pro-3
ividcd by law,” and the ariientlniciit was agreed ‘,
:to, ycas 30, nz1_vs 2. Mr. Grundy reported a bill,
limiting the District Attornies fees to $5 in
icach cuseof the extension of inerchaiits’ bond.-‘. i
, Adjourned.
' On the reasscmbling; of the IIouse,llie con-
sideration of the Anti-Di-posite bill was resum-
ed ; after some fnrtlier debate, the previous
question sealed the ljps oftfc opposition. and
the bill was ' passed——yeas 118. nay»-. 10f‘.
9:?" THE VVl-IOLE CON NECTICUT
~DELEGA'l‘ION VOTING IN THE AFFIR-
MA'l‘l VE.)
Resolution submitted yesterday, calling for
corrvspoiidciice relative to the is:-tic ol Treas-
ury Notes, after at trifling atnendment. adopted.
No other business of importance was done be-
fore the House adjouriicd. .
give up the Ship,”
amended.
NOR“ ALK, \\’l»)I)i\'l3SDAY, OCT. 4. I337.
C0.*c"S[l§'l‘Ei\'CY.
It seems that the Srcretary of the Treasury
has recetitly addressed letters to certain Banks
in different parts of the country, inquiring on
ivhat terms they would receive Tre sttry Notes,
and autli_orize the Trcasurerto draw for the pro-
ceeds in spccie—ivhicli, being interpreted, is at
what discuiziit they would take Government. pa-
per. This is “ kind 0’ curious,” as Maj. Domi-
ing says, “any how you can fix it”-—wlietlicr
we consider the nature of the proposition, the
sourlce from which it eiiirinatcs, or the parties o
whom it is addressed. Can it be that our “per-
ish credit.” Government is offeriiig'its own notes
for discount! A Govci'nm_eni., too, which en-
tertains socli a uioi-tal antipathy to paper Eo-
ney, rugs and sliin-plasters! But we forge-‘.—it
is it hard money (3.overnrnsiit, after all, for
thou,=_-h it pays its 0‘.’!l debts in nothing but
rugs, it will receive nothing from its debtors
but coin. So, if it is not a hard money Gov-
ernment, it isa hard Government, to say the
least of it. But our wonder does not cease,
when we see our consistent Aduiinistration mak-
ing such a proposition to it set of banks whom it
has so recently clifl.l‘gt'(l with “corruption, per-
fitly and baiikruptey”—with having stopped spe-
cie payments for the purpose of selling their
specie at 0. premium, and buying their bills at a
discount.” One would think, that after these
denuiici::,t.ons, if the Secretary was an honest
man himself, he would not be disposed to trust
the funds of the Treasury in the ll2tl‘l(l5 of such
‘it puck of rascals. But this is a hard money
move them for misconduct ; and ajoint commit-'
tee of Congress is to inspect annually aiidlreport
the state ofthe bank and all its branches. The
Bank is to be the fiscal agent of the Government
for all purposes, and nothing but the notes of the
bank, or gold and silver is to be received in pay-
ment of any debts dueto tlfe States; ‘and this
Bank is not to receive the notes of any of the,
State Banks. These are the outlines ofilie Bank
proposed, and the author of the plan iscoufidenc
that the establishment’ of such an ll‘lSllluli_0ll.'
would result in the perfect regulation of the cir-3
culaiicg medium of the country and equalization.
of internal exchange—that ‘it would drive from
circulation the notes of the multifarious banks I
now existing and ' establish a sound currency
throughout the country——tliat. by ‘extinguishing
the various species of bank notes now in circula-
tion, it would, in a great ineasure. prevent the-
nu rrierous couuterfeits that are ‘now fraiidnlently
I
circulated—tliat in case of war, or on any sud- _
den emergency. the government would at once:
find the necessary resources at command to meet
the exigency without em'narrassnien’.——and last.
though not least, that the profitsarising to the
government from the banking operations ofsuch
an instittitiori, would suliice to pay a consider-a-
ble portion of the expenses of the government,
and eventually relieve the people from a large
amount of taxation. .
This sounds/rather better than the “Sub-
Tresisury Sclir-me," atziny rate; and if such a
plan should coirie up for the consideration of
Congress. would. in its essential provisions. find
more patriots than pitrtizans a moot; its advocates
01;‘ Senator Rives. in his speech on the “ Sub-
Tseasury Scheme," stated‘ that I at similar
plan now in operation in France, requires
100,000 OFFICERS to carry it 0...
and that the system proposed by Mr. Van Bu-
rcn will rt.-quire as many, at the least calculation!
‘.Vcll, wliat of that? Does any one doubt that
it is the desire of the administration to increase-
tlte patronage of the Executive? The recent.
elections have taught him that there is no other
mode of perpetuating his power, than that ofin-
creasing the number of office-holders. And,
ciinsidering the end proposed. is not his “ Sub-
Trcasury Scheme,” truly, a most excellent ds-
vice? . ’
TR casein’ NOTES.
The Bridgeport Farmer calls us to account [Br
our reiiiarlis on'tlie project of a bill aiztliorizing
the issue of notes by ilie Treasury Department‘.
to relieve the Government from those embarrass-
mentsinio which the war of Andrew Jackson
and Mzirtiii Van Buren upon the country, the
the banks and the ctirrency has brought it. This
project of a bill is not literally the saute as that
which has passed the Senate; but substantially
so The issues are limited, profcssedly totwelve
iiiillions-—biit it is easy to manage that, when
the President manages every thing.
As to the morality of the whole matter, we
stand upon our previous remarks; anti reiterate
the expression of out conviction. that there is
nothing to be foniid in the plan but a depraved
selfishness, and a design, (as the effect will
show.) to perpetuate the disircsses of the coun-
try. ‘
VVith the View to give-our readers the benefit
\
of the Farmer's l'CI‘l.Ifll'l\'S, we transcribe the fol-
,Goveriiiiicnt, and they rnust‘. li:tve specie for
S~_‘f‘tt’.n‘l, continual allusion was made to the pur- l their own uses, (to pay ofl-‘ fngnlljcrs of con-
l
gross and office-holdcrs—-no other -groditors, not
rcven the old R.-avolutionary Pi:iisio‘ncrs,) even if
d its _qu',-‘qyorlrtrs a; that time with theh-'tlicy,liavc to buy it at it premium.
To "our plain way of thinking, this appears
lflllmd 05 but fl’? til“-‘ l"“”“fil "F me gW"r"m°m' very like “ blowing hot and cold with the same
month.” But we may be inistakr-.n. For if it
is right that the Government should deal in one
- kind of money and compel the people to take tip
with another. it cannot be very wrong that this
same Government should use one kind of logic
for itself, and treat the people to another.
But we believe that the time is speedily com-
ing when the people will teach the Government
that “it is a .v'0(‘;t' rule that will not work both
ways," and furnish -“ tlie powers that be” with
a practical illustrzition of the old prevcrb, as the
Frcricliuian understood it—- “ He is long lain (lat
never turn himself.
-
TE} E R F.lV.lED"Y.
Among the various plans proposed to arrest
[the evil existing in the present deranged state of
ilie curi'c_ti."_v ol the country—orie suggested by
,,_ (.,,m,S,,,,,,,i,,,;i of the National Intelligencer
has particiilarly alllllc-".’-d_ OH!’ Sllenlltlll. But
our want of space will barely permit us to give
the outlines of his plan.
He, (:()lTllIl€'.1('6S with that article of tli.°. cun-
lowing from that paper:
“ The bill, as reported by Mr. \Vriglit. pro-
vidcs for the l5Sll(? of .-.1 limited ziuiount of notes.
on interest not exceeding six per cent.. payable
one year from date. They are to be givien to
such creditors as are willing to receive them in‘
payment of debts, and to tliosc wlio_ ma/iy loan
money to Government. And they are to be re-
States, credit being given for principal and into-
rest tip to the time when presented. ’
" Tlieolojcct of these notes, is to relieve the
ptib_lic destors, viz: the importers, who owe the
Government four rriillions, the banks who owe it
six millions. and the States, which otherwise
would be obliged to refund :1 portion ofthe pub-«
lic dcposites.
" The Gazette says the ‘ Government with a.-
surplus of forty millions dollars. is bariltrupt.'——‘
It is too true the Government is unable to diii--
ciiarge its debts in Ilie. legal currency. And’
why is it 50? Because the banks. its deposito-
ries and debtors, have themselves become ‘bank-
rupt.’ To relieve itself, and the public so far as
in its power, from the embarrassments occasion-
ed by the explosion of all the banks. these Trea-
sury Notes are proposed.
the circumstances. isa proper and salutary one.
They will afibrd inimense relief. and be every
where preferred to bank notes. Capitalists will
eagerly seek after them, because safe. Debtors
to Government will seek them. because the will
serve the purposes of gold and silver. Credit-
ors will readily accept them, because they will
command a premium. The banks themselves
will buy them. and board them up, because they
stitution ofthe U. S. which provides that " No
state shall coin uconcy. emit bills ofcrer/it.” dice.
and proposes that Congress should foriwiih bold-
ly assert their coiislilulioital right to prohibit the
several states from chartering hereafter. or re-
He
would base his argument agaiiist the constitu-
newing the charters ofany of their banks.
tioiiality of State Banks on ilie old law maxim,
“ qui /acil. per alizmz._fae2'.tper sc”-—he who per-
forms an act through the instrunientality of an-
other,.performs it himself; and that, of course,
if the states are prohibited from entitling hills of
credit themselves, they have no right to author-
ize the same thing to be done by others within
their jurisdiciiori.
sotiiewliat plausible.
But. if any doubt exists as to the constitution-
ality of a National Batik, (he takes the firs!
point for granted.) he would have the dilficnliy
removed by an iiiiiiiediate aniendtiieiit of the
constitution. Congress slioultl then establish a
National Bank, with a capital sufficiently large
At first bliisli, this appears
to furnish tiie circulating medium of the ‘coun-
try. and with power to create as many hr;-inclies
asihe wants of the country may require—the
capital ofthe mother bank. and all its branches
to belong solely in the Government. or. in other
It proposition which would .test the opitiion of
Congress on tliisquestion. He then resumed
woids (as he says) to the people. The batik is
to be entirely beyond the control and independent
know they will be redeemed in gold and silver
or :heir_cipiivaleiiI.”
The apologists for this detestable administra
tion, must feel painfully straitened under the
present prospective aspect of affairs, in their at-
iempts to iiiystify to like perception of their
readers. (for they caiinotyushfi/) its actual con-‘I
(]i|i()n—i|3 prinr:.i_nles and its practice. They
place tlieinselves.iii sodoing, in a far more no-
cnviable coridiiioii than the pimps and minions
of a regal despotism, where theirfawning is the
condition of their existence; because» Wide? 001‘
piesent democratic despotism. there is freedom
of choice. iiidependent of the risk of life or lib- . ’
erty; and this circumstance makes their mean-
ness the more conspicuons—for they sell their
souls for “ fzirdels" which only disgrace the
bearer. ’
The “ Farmer" would probably have it un-
derstood that they g_o for consistency. Consis-
tency. indeed! Is it consistent to abuse the
“ Deposite Banks," after having echoed “the
greatest and best" in their praise 7. It is truethe
Treasury notes, _iinder consideration. are to be
given to such as are it-itling to receive lhem—and.
(the Farmer should add.) to such as are not wil-
ling to receive them, is to be give.~ii—nolhiit-g.’ It
is Hobson’s clioice. '
Now, as to the credit whicl-'i thssl note:
ccived in payment. of ail dcbtsdue tothe United _
The measure. under '
Norwalk Chronicler