Newspapers / Mecklenburg Jeffersonian (Charlotte, N.C.) / July 6, 1841, edition 1 / Page 2
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coi^ditior. oi B.inti.. and the full and complete exp:)sure to committees of Congrt'ss, and to the Se cretary of the Treasury which is amply secured, of all the books and transactions of the Bank, inclu ding private accounts. 4. Tiio prohibition of the renovval of any loan; thus putting an end to all mere accommodation pa per, as far as .practicable^ and confining the Bank to lair business transactions. And 5. The Bank is prohibited from making liny further discounts or loans whenever its notes in circulation exceed three times the amount of specie in its vaults. To protcct the community and the stockholders against m:sinana^(einent of the Ba;ik, several pro- visioiis have been inserted, which :t is hoped may be eti*ectual. 1. No paid ofliccr of the Bank is to rcceive loans or accomodation jn any form whatever. 2. Securities are provided against abusive use of proxies, such as that no officer of the Bank can be a proxy; no proxy can give more than 300 votes; no proxy to be good which is of longer standing than ninety days, &c. 3. A prohibition against the Corporation trans acting any other than legitimate banking business; excluding all dealing in stoclrs, and all commercial operations. 4. A requisition that a majority of the whole number of the Board of Directors shall be necessa ry to transact the business of the Corporation. 5. Ample power to make the most ihorou£rh ox- a nination into the condition and proceedings of the B:ink, down to the accounts of individuals, by total ly removing from the Secretary of the Treasury and committees of Congress the veil of secresy. And G. By denouncing and punishing as felony the crime of embezzlement of the funds of the Bank Vv hen perpetrated by any of its ollicers, agents, or servants. Concurring entirely in the sentiment expressoc by the Secretary of the Treasury, that many wise and patriotic statesmen, whose opinions are intitlcd to consideration and respect, have questioned t!ie power of Congress to establish a Xationol Bank; an I that it is desirable, as far as possible, to obviate objections an I reemcile opinions, the committee have attentively an I earnestly examined the provi- tke moderate standard growing out of the inere iions, incorporated in tlio draught of the bill ot the Secretary, in regard to t!ia branc*hin.«‘ j'tower of the 13ank, and they would have been happy if thi'v could iiave reconciled it to iheir sense of duty t.) adopt it. But. after tiie fullest consi'leration, they have becii unable to arrive at that result. It was not witiiout s.'Tie hesitation that the corn- raittee agreed to tho l >2ation of the binlv in t!ie Dis trict of Columbia. This they dil b-HMiise they be lieved that the ulilitv of tlie BanJv ui i not so much depend upon the place of its location as upon the capital, faculties, and powers wliich should bo given to it. But to isolate it in this District, v/ithout giv- i.inr it any other branching ])0wer th:m .‘^ueh as it might derive from the consent of particular States, v.-oullbeto create an rnormous District bank, de void cf effective natioi.al character. Such a bank would be a bank only of tiie District of Columbia, ani its offices of discount and doposite would bo nothing more ihan banks of the States which might allow them to bo planted within their respective limits. For all national purposes C\>ngress miirht a.? well recharter one of the existing District banks, enlarge its capital, and give it authority to establish offict s of discount and^deposite in any State that Would permit it ♦o be done. The commin^'c beiii^ve that the capital of a bank constituted would never be taken; and that, if ta- ■i I an |j th»f' i V Ijjiji) to cost and insurance on the risk oi traris;^oniiig spe cie from one to another part of the Utu.^n. It will, consequently, save hundi 'jds of thousands of dollars now annually lost in transactions of ex change. It will essentially benefit thel manufacturing in terest by enabling it to realize sales and the pro- Gtiotls oi s*iic^s ' It will powerfully contribute to the resumption of specie payments by the banks, whose delinquency is the greatest source of all prevailing pecuniary and financiary embarrassments. It will greatly tend to prevent and correct the ex cesses and the abuses of the local banks. It v/'ll fiu'nish u medium commo.i to all parts oi il.c Union :>r the piyaieni ol diibts and da :s lo the (government; thus rendering dutit^s ani laxes uni Ibrm in tiict us well as in riame. It is in lispensable to the convenient and success ful financial operations oi the C4ov’ernmeni in ail the deoarlments of collfction. safe-keeping and disburse ments of the public revenue. Such are some of the domestic benefits which the comiaittce fully believe will be secured by a Na tional B.mk. Those which appertain to our for eign relations are alio worthy ol serious consideia- tion. If it be true that money is power, its concentra- i tion under the direction of one u'ill, sole or collec tive, must augment the power. A nation, without such a concentration of power, maintaining exten sive commercial intercourse with another nation possessinof it, must conduct that intcrcoures on a condition of inequality and disadvantage. National Banks, in other countries, begat the n« cessity, there fore, of a N itional Bank in this country, in like manner as National Governments in foreign nations must be met by a National Government in ours. Accolinglv. we have seen the itilluence exerted by the Bank of Kti'zland upon American inteiests, when those interests were exposed to the action ol that Bank, and were left without the protection ol a Bank of the United St:Ues. The committee do not wish to be un lerstood as intending to express any approbation of the commercial operations in which, tiie Pennsylvania Bank, assuming the name of the Bank of the United States, engaged, when that state of things arose. But they do mean to say that the interests and ilignity of the United States demand that they should not be expo^U’d, beyond the necessary and legiti mate infiuenc(' of monetary and commercial oj>era- tion.>, to the action ol a lbr'*ign banking institution. They believe triat^ without a compftent Bank of tne j Unite.I States, foreign National Banks may and I probably v.'ill exercise an undue and possibly per- I iiicious ijilhicnce upon our interests. In this view of the case, the ]uestion is, v.'hethcr it is better tiiat we should be liable to be materially afiected by ti foreign institution, in which we iiave no intere:s^, c»ver v.-hich we can exert no control, wliicii administered solely in relerence to foreign hitcrestsj or shall we have an American Bank, the creature of our will, subject to American aurtiiori- tv, and animated by American interests, fecdmgs and sympathies / 'i’iie commitieo could not cnteitain a doubt in such an ahernative. And, in reference to the for eign aspect of the Bank, tlK* committee thought it expetlitMit to allo'.v it to dea. in loreign bills ot ex change, wiiich are tlie barometer ot the state ot our foreign trade. In conclusion, the commi'^ee think it proper to say that they have given due corisid.uation to tne various memorials referied to te. -m, and to the m- him from running a second time^ for it il did, he would op^ise it, as the time might come when he would bc*ia favor of the present President for a se cond terh^. He did rtot know, but did not wish him to be excludr d. He w’ouid wait events. So the resolution lies over one^lay. .Mr. Cave oflered the following Resolu tion, which lies over one day under the rule : Jiesolced, That the Slecretaries of Slate, of the Treasfury, War, and Navy Departments, and Post master General, be directed to report to this House the names of all persons who have been remove ironi ofilce, and the names of all persons who have been appointed in their places since the 4th day o March last. Mr. (\ II Williams oflfered the following Reso lution, which lies over one day under the rule: That a select committee ot twenty-six members, one from each State, be appoinied, wliose duty it shall be to report a bill to thi-^ house, as ear ly as practicable, for the apportionment of Represen- tati^•es amongst the seveial States according to tlie sixth census. THE TARIFF. xMr. Randolph asked the House at this time to take up and consider a memorial presented by him yesterday in relation to the operation of the present tariff laws upon the iron manufactures of the coun try. (which petition, giving rise to a debate, had ' been laid over yesterday on a motion to print.) I\Ir. Adams hoped, he said, that the House, v.’ould atifree to the printing of this memorial, and that the icpresentatives of that interest in the United States, whicli consisted of the friends to a protective system, would, in the present ses.'sion, come to some under standing with one another. He regretted deeply, that a proposition made by another gentleman from Penn.sylvania (Mr. Fornance.) two or three days ai^o, ha'.l passed away from the consideration of the House, and he regretted that it had done so by the action of the friends of that very memorial. It was a memorial from the State of l*ent»sylvania and to marshall his battalions under the banner of a and proved conclusively that the present Secretary nmtfirt^vo tariir He had callcJ on the agricultural of State had succumb^ to Great Britain in his let- fntteas of the West, and made an appeal partieu- tor to A r. Fox enclosing the mstructions to the'At- larlv to the ereat State of Pennsylvania to come to torncy General. . ■ , the reLuo of tho manufacturing interests of the Mr. I compared W ashman s views after the , ■ - French Revolution, With Mr. Webster s views now. Now'sir, one word in regard to this unnatural He also compared Monroe’s answer to Great u- AVhere do the Britain, with Mr. Webster’ answer, and showed people“of tlie Western Stales find the best and most that vvc had degenerated in spirit, and had suffered P^retivl marUets for their ? tlTov send tliem to the Sontli. Whose inte- ed if Mr. Webster’s patriotism plea es him, and if rests ought W to consult-the inanu-j Iw .s so pleasel, lot him enjoy himself-it will soon facturers of the Eeast, or the planters of tne South i be solitary en,o^> men. from this same interest. Anl members in this House were playing at cross purposes on this sub- ject. 1-1 A irrntleman from Virginia (Mr. W ise) had said, some da\'S ago, in relation to this interest, that he would look out for Republicans wherever he could find them against it. He (.Mr. A.) would look out lor Republicans wherever he could find them in fa vor of it. (ientlemen might depend upon it that those v.'ho opposed them on this subject understood one another, and that they acted together with a concerted and united action. He hoped that the v/holo delegation from Penn sylvania would set aside all inferior considerations, and mo:;t especially all party, factious considerations, and that they wouhl rel>;ci v.'hat their interest was on tin's great question, an I that it was tim*3 that taey should come to an under^^Umding with one ano- tlu't, and come to an understaniiing v.-ith those who were in iavor of the same intere.'^t in this House. Tiio subieet was one iuvoU ing the great question brtween free labor nnd slave labor. It was the gr.-at qurstion between compromises and a protec tive t:iriir. and if there was a majority here deter mined ag-jnst all protection of demestic industry, let u. kn e.v it—let US know of whom that majority consisi's L‘ t us know of whom that party consiiJts whv! V ' :n favor of protection, and who they were tf c.. , ai favor of counteracting the action of fo- :• oijvernmcnts against the native industry of oui ov/u people. Jvli-. A. here a;lverted to the recent proceeding m I'l' British Parliament in relation to free trade and 1.^ co'n laws, and to the defeat which the British ?vi!n’.try had sustained thereon. He hoped that, Let them decide when the question ol a taiifif for protection comes up. The honorable gentleman from Massachusetts has said that the question of a protective tariff is a question between free labor and slave labor—this being, when interpreted, a ques tion of taxation on the South for tho benefit of the North. Now, sir. when this question shall be presented, I shall join the honorable gentleman from South Carolina. [Mr. l^ickens,] and demand to know where the great State of Iventucky stands m re- gard to the compromise act ? Is it possible that the j South, which affords a market for the proflucts of the West and manufactures of the East, is to be deserted by the former and plundered by the lattei : We shall see, sir. i Mr. Irwin of Pennsylvania said he could assure 1 gentlemen that all attemps to crive tliis question the go-by would prove futile. I’he manufacturers and mechanics and workingmen oi tlie countiy uould be heard. They never v/ouid consent that their pe titions and menioiials praying tho cousideiaiion of Congress to subjects in which tiiey feel a deep in terest should meet the late oi Aboinion petitioii.s. when their wo;di:shops were closed and all branch es of domestic industry languishing for v, ant ol l*ie ; fosterinGT care of (xovernment. 'I’he querition couid j not be long evadetl. It woui 1 have t > bo nif't ith- | in a short period, at tiie next se^sioa at t The period limited by what was called the com-1 promis act was close at hand; an act manilestly m j violation of popular sen!iment--ar:ainr:t the known j sentiments of a largo majority oi the peo))le ot t.iese j United States, and catised by the tlireat and menace of a small mitiority oi those pcopie. A motion uas tlien made to adjourn, and without in~>iion *o nrmt. tlie Mr. CiLnhln" now went into a long defence of the beauty and tlie parity of Mr, Webster’s style. When a man leaves the subject for the style—the kernel for the shell—there must be something rot- in Denmark—something worm-eate» some- ton where. Mr. C. spoke until about 3 o’clock, and frave way, when the House, on motion of Mr. Mor gan of New Voik, adjourned until to-morrow at To o’clock. MEGKLENBURG JEFFERSONIAN: Tuesday July C, 1841. taking the quo:t;on on House a'.ijouined. I X S r. N AT i: ... .1 c N F. i \ />resolution, a^-.vin^ intormatio.'. C'ANDIDATr.S FOR CLERKS. ’^y . prrv r -qu''i?tc'l by n nuinbfr of citizcns Irom nil parts of iho CU>uilly tf* announce CHARLE'S T. ALLXANDLR, .Tr., a raiidMut? at t’ue n .xt August . iection, for the office of Cl.-rk of ]Meckk‘ubuv” County Court. Vv'o hnvc b.':cn bltiiilarly reqursted to nnnoanr.e JKX- :ixa.s 11. KITJ5. Esq.. acaadidato at the same lanc for r* -f Kx'.iovi *•) Uu' oiYv'.e oi Clerk of ibo Superior Court. Wc un-i’.orlzed to iii.nounco li. O.VTS, Esq., 2S n can- fli bv* fjr re-election to in3 ofucc cf Cluk of Mecklenburg Coun'v Court, at the next rlection. We are rcqii'sted to aiiiiouiiec ILL,IA..>ISO?s ALL.-YCL in reirard to the removals an-.l :ippointm'-n!s madeby j „ at the July Court for Couafy Surveyor. the new Administration, wa-? tak'-n uj) m the morn -1 c’;:iriot! •, :\Iarei! 30, in'^' hor.r. Several attemj)is Lai be^n made bei-.ue { ^ ^ ^ - to ffct the resohilion passe 1. and the c.ill sent to the i Co;/^he non-arrival of onr De'|)artments, but obstri- le.- were interposed lo a.i , v/ashiugton papers whicl inquiry, alvvays pas.': Hl b-lorij, a.s master of ccuiscv , ^ ]ioyQ fno proceedings Mr MrHolcris f >liowed up the discttssion anti j comvnittee is ruontioned, a m ajority of the coii’mit- *LCe is lo he understood. All 'i^'hich is respectfully submitted. It is desired and should be designed. Bat the question of establishing a bank thus to be restricted and circmnscribed involves iiigher an;l graver considerations than those of mere expedi- ncv. The General Government has or has not the power to establish a National Bank. If it iias the jiower, it derives from it the existing guinls in the Constitution of the United States. The com mittee Ix’.lieve it has the power, and ought exer cise it. But after a contest diiring tlie last ten or t welve years in respect to tho constitutional power of Congress, wliich has been marked by so much animation anl bitterness, a forbearance to exccrcise the power would be ft virtual sarrender of the pow er. If a bank were to be created. Avhose operations v. lihin the llinits of tho States were dependent not upon the will of Congre&s. but upon the will of each State, separately announced, the c'reation of such a bank would add another to the list of disas trous experiments, and vvouM be tantamount to a re linquishment of the national power, and il could ne ver be resumed. Tne piwer of the Fede/al G ;vernin^ it is only ; king i.p Mr. Cl’y's B ..dv nroject. the to be found in the grants of thu l.oniiiii-ution. ll i.'xecutlve Session and then ac.^on'ned. to the fuhlmcnt of the .■trUCtionS_lTW3^4hv i ^ i-'t a.nd our \ J in’.mo- 1. to re- li .nks of the We pass over the proceedings :>iil instant, as containing i;otr>>ufr readers. Oji the 2.jd, vaiif):!' •. rials wore presented and ;el, ri* i vise anJ extend the charters of t District of (J^ohmibia coming on its third readhig. Mr. Morchcad moved to recommit the Bill with instructions to strike out the amendment which v. as adopt'-d yesterday, preventing tlie Banks ol the District from paying out or lending out the notes of any suspended Bnnks. The motion to recommit was opposed by l\Ir. Benton, Mr. Allen, and Mr. Buchanan, and suppojted by Messrs. Morehead. Barrow and Merrick, and. was carried—yeas 25, nays 9A. At''ter some conversation in regard to ta- f'^nate wen' bef.-'re them than the report of a committee of the British Parliament. Let tho British Government set the example of free trade, an-i it u'ould then be time cnO’^:rh us to meet them in that spirit. He hoped the printing v/ould bo agreed to; and he wished it was in tfie power cf the House to re consider the vote by which the proposition of llie gentleman from Pennsylvania (Mr. Fornace) had been thrown out of tho power of thislloase. He hopetl the subject would bo considered at this ses sion, even if there should be no action upon it until the next. Ho was for commg to an issue upon it at once. He hoped, also, that the other gentleman from Pennsylvania (Mr. Bidlack) would bring forward the resolution to which he had referred. But let not the crentleman move its reference to the comnnt- tee of Ways and Means. There was too much compromise in that Coinmiitee. He hoped the gen tleman wotdd move its reference to the Committee I on Manufactures. But let us not commit tho lamb to the wolf—airncm commiitcre lu-pe. M.'-. Piche.- :; could have no objection, he said, to tlie jiriuting cf the memorial, if tliat wer*- the only h were due on Saturday, gs of Congress only up i> ■ uiu it.i .4X1. X x.v. was engaged chiefly in exhibited tlie s:e.^t im|iovt;,iico n'liK-li ciav’s B.-.nl; scheme, and the Houa had attanir-d in the public consideration from the . -‘-'n * * _ i ^ uc\y principles broaclied in relation to it.^ 1 lo aiiu- was m a continual ferment, lirst upon one subjec ded to the remarkable inconsistency whi di distin-j ijjon upon another. The subject cf the Taritl guished the constitutional pvmc.iph :' Lu;! dov. n b\ j the men now in power, betore. tne e.ec.ion, \ O.- Censrcss .mngle ab..,i by Mr. Web.ster, in uhich the exerc.'oot tiie poa-1 twa muntns session oiU, and break up wiJioUt do- tical rio-hts ruarantied bv th':^ Con.st'tution wasniade ; f^r t-ie reli-''f of the country. J. —; ^ hj.' iuviUtlltC of office, i ■=’ “ _ and in this wav a iioHti.ai te« c«aWis’.i«I by lac . CLAY'.S NATIONAL RAiXK. bare or'leroi a i'^ecretary cf Mate, wnicii tlie )r-£r;>- : lation of the country Iiad nevin’ conntenancccl. but ! e had inlen led to submit some r maiks upon on the contrary .had absolutely repudiated. j the plan of Mr. Clay tor a National Bank, v.dii^'j Before tho question on Mr. Buchanan's Rcsoiu-j ;v;i! be fjund commcncing on our first page; br. ov.'n by j quite a ‘-breeze” in the House as tiie realer \/ill see by our Congressional Synopsi.s.— CCZi-!- wiil con'.en! I t ourself for t!ie present, with mer» lv jn of our readers to the most eb- Wiiile the Secretary of the 'rreasury tacitly a.i- mits tlie Lick cf power in Congress lo establish a Bank only in the Di.stiict of Columbia, Mr. Clay bo: lly a.-serts that it has the power to establish one lerever it pleases, and force branches upon tli^' I Sta:es, whether they are willing or no. He takt-s they are inadequate to the fuiilmcnt of the great purposes cf its establishment, tiiey can only be in creased in the mode of amendment which the iiiStni- ment itself had prescribed. They cannot be aug mented by the grants or consent of any State or States short of the number of two thirds, vrhose concurrence is necessary to give validity to an amendment. A derivation of power to the General Government from the consent of particular States would be unsound in prnciple, and tho committee think dangerous in practice. Admit such consent to be a legitimate source of power, the Government v/ould not operate equally in all the States, and the Constitution losing its uniform character, would exhibit an irregular and incongruous action. Enter-t-aining these deliberate vlew.s, the commit tee are decidedly of opinion that no bill for the esta blishment of a bank in the. District of Columbia will be etTective which does not contain a clear re cognition of the constitutional power of Congress to establish branches wherever, in the United States, the public wants in its judgement, require them. They cannot coascnt that a bank, emanating from the nation, aud imperatively demanded by the ne- cesshies of the Government and of the nation, shall be wholly dependent for its useful operation upon the will of each and everj^ State, distinctly expressed. Accordingly, in the draught of a bill now reported, the right is asserted to exercise the branching pow er of the bank independent of the assent of the States. The committee dare not allow theinselve« to eelieve that the bill is free from all defect.s, but they do hope that these, in a spirit of liberality, will be corrected by the superior v/isdom of the Senate and of the House, and that the present session will be signalized by the establishment of a national institution, which has become a desideratum to the general prosperity. The advantages which will flow from such an in stitution, in both our domestic and foreign relations, iire manifest and incontcstible. It will give the people a sound currency of uni form value throughout the Union, which is just as iiecessai-y to the successful operation of all branch es of business as pure air or water is to the preser- votion of human life or health. It will revive and extend commercial intercourse, wiiich, for the wunt of a common medium, has been almost suspended between dhferent parts of the Union. It will reduce domestic exchange from the enor metis nremi'ams and discounts now frequently paid Housk of Rkprksexta'i i\ks. After some imim])ortant business, the Stat'^s were called in order lor Resolutions, when a number proposing calls of inquiry upon various subjects v.'ere offered. On motion of Mr. IF- C. Jnhnsmi, the Commit tee of the W'hole on tho state of the Union was dis charged from the ccnsideration of tlie Bill reported yesterday ‘‘to appropriate for a limited time the proceeds of the sales of tho public lands of the Uni- teil States, and for granting lands to certain States,” and the same was referred back again to the Com mittee on Public Lands. Mr. J. explained the object of this motion to be that certain modifications might be made to the bill. Mr. Pickais ofibred the following resolution: Hcitolved, That the Secretary of State be directed to communicate to this House the list of newspapers (if any) th;it may be under a mortgage, as to the press,* lype, material, or subscription list, to the De partment of State, or any other Department of thi.s Government; and, also, that he communicate the conditions of said mortgage, the time, and the cir cumstances under which it was given; and if any inortgage of the kind has been redeemed within the last six months, that he also communicate the terms upon which it has been redeemed. The Resolution lies over one day. Mr. A. V. Broicm of Tennessee, ofTered the fol lowing Resolution; Resolved, Ivj the Senate and House of Representa tives gJ the United States of America in Covfn'css aascvi^led, tico-iJnrds of both Hoxisps concurring^ That tl'c following amendment to the Constitutk>n of the United States be proposed to the Legisla tures of the several States, which, when ratified by the Legislaturso of three-fourths of the States, shall he valid to all intents and purposes as part of the Constitution, to wit: “No person who shall hereafter be elected Presi dent of the United States, and who shall serve as such the period of four years, or any part thereof', shall be again eligible to that oiTice. This disabili ty not to extend to any person on whom the office or the duties of the President may have devolved by reason of tlie death, resignation, or removal of the President. Mr. B. moved that the Resolution be referred to the Committee of the Whole on the state of the Union, and be printed. Mr. Pickens inquired if the resolution intended to embrace the present Piesident, and to exclude ijucsi.an. But as the gentleman from Massachu setts (Mr. Adams) chose to make the printing a test queslion, and said it was a cpiestion between the compromise act and a tariff for protection—calling public attention to it and expressing a desire to come to an issue upon it—he (Mr. P.) could not consent to piint the memorial. The gentleman had called upon the friends of a protective tarifi’ and asked them to combine and come together with a united iction, because those opposed to them were acting upon that princij)le. He (Mr. P.) regretted that the gentleman from Virginia (Mr. W ise) was not in his seat to hear some of the remarks of the gentleman from INIassachusetts, and to listen to his billing and cooing to the Pennsylvania delegation upon this floor. Had the gentleman from Virginia been here, le might perhaps have been induced to believe that jIs charge as to a coalition between Kentucky and iVIassachusetts was not true. Probably he might lave gone against other compromises and other co alitions, not with Kentu'ky, but with the Pennsylva nia delegation. Mr. P. protested against all such bar gains and coalitions; and was understood most es pecially to call upon Kentucky not to sustain any such bargains, but to sustain the spirit and the prin ciples of the compromise act. The gentleman from Massachusetts has said it v.-ould be committing a bill, if sent to the Commit tee of V/ays and Means, like sending a lamb to the wolf He (Mr. P.) repelled the insinuation, if in tended to appljr to him or his friends. W'hen he says there is too much compromise on that commit tee for him, who does the gentleman allude to ?— He cannot say he (Mr. P.) was for compromising. No, he would find in him no compromise. His course was open, and without compromise upon great principles. He must allude to others upon that committee, and let them answer for themselves. As to the undtr-current that gentleman had allu ded to upon riiat committee or in this House, he would say to the gentleman, that he hoped the time would yet come wdien that under-current, which was now seen to ripple, \vould swell and roll on, until w’e shall see the vessel of State bounding upon it, with as gallant a crew on board as ever shouted for victory under the flag of Liberty and Indepen dence. Mr. King of Georgia said he felt it his duty to say a few words in reply to what had fallen from the honorable gentleman from Massachusetts, (Mr. Adams,) who seemed disposed to ring the changes once more on the subject of the British tion V.M3 takou. the Senate pro^'oeJed to tli deratio’i of I\lr. Clay's plan of a Fir.r.k. Mr. CV^ivoccupic 1 more tlni: an liour .sc-ttiiig Ibr’ii ! jfvtionabie Ibaturcs iii tho schema, the beauties of tiie new National Bank-. After he i had concluded this supplement (as he called it) to i his report. ?.Ir. Calhoun moved that it be laid over ' until to-morrow, that members might have time to consider the new bill, which had been laid upon the table but ttie day b‘-.fbrc, an 1 »he sup{demon:;i! ; views just delivered in ref:fard to it. by tho cliair- j ‘ man of the committee. Mr. Clay peremptoriiy de-1 , , , , . , , , ^ i tt • j dined granting the accommodation of the few hours! a n.o'le! hn- nis plan tiie lateBanK* of the Lmled requested to e.xamine the details of his all absorbuisr-j States, an institution which lived, moved, and hnd measure, or to deliberate upon the suo-gcstions which | being in a mass of corruption—disregarding i- ' he had just thrown om in oonneclion v.-ith it. ilr., ,ioian-'iii? the exchanges and biisincs.-: r,; Bucbnnan then appealed to him, and lemmd.xt him , ^ ° nf the conrtesy an ] indiil;pncc'u'lii>;h had ahvavs Icountry—spendin- milhons upon miliioni i:. been extended to him and his fri* nds, when in the buying up presses and politicians, and corrupting minority, Vvdicn similar grave subjects vccre und-.-: th? ballot-box and tramplimif on the laws and frcc- discussion. , . , . ■ dom of ele -'ions, fii'-illy exploding, ruining Mr. bluntly and peremptorily retused his con-1 , ii i ' i • J 1 Ar 1 1 stocicnolders and eepos; .'irs, and disclosinrr a con sent to a moment s dday. Mr. Buciianan appealed r > i i • n- i- T i to the other Fetleral Senators, and saivl lie was con- j eeited s\'atem oi tiaud anu swindlmg which has a: fident tlu y v/ould not in^i.n upon so unusual a | tounded its staunchest friends and shocked the whole course. { country. Dare ]Mr. Clay or his friends say that Mr. Clav persisted, and whcnfhr> \o.e was abouL j people wish such another curse inflicted upo i ^ ’7 his political friends would ne)t support him, he re- j ' solved to put tiie ffirt.f srren-s to them by a call ofj -- to be taken by a count, expecting tiiat the feeling of J , ^ ^ ^ i ^ c ^ i i v. v j • i • • ’ - - ’ • ■ i tliem !- But he says he has embodieHi m his nev/ put the parfj/ srreifs to them by a call oi { -eheme additional guards and restrictions to prevent the yeas and. nai/s. Such was tiie repugnance of j the abuse of its powers;—how absurd ! Once grant the most dccided advocates of a bank to tne harsh- ||jq charter, and docs not all exoerience show that ness of tho nroceedin'x- e»n which he so passionate- -n 1 i * * * • 1 • 1 .1 , i> 1 1. • ihe Bank will laujrh at paper restrictions? disre- ly insisted, that no coulu only obtain tne vote oi F2 • , • , ^ to su«!tain him * when it-pleases, m defiance of the power The Fiscal Bank bill was then laid over, and a warm and interesting tlebjite followed on the provi sion for General Harrison’s family, of twenty-five thousand dollars. I'he liscussion was one wdiich drew out very enlarged and compreliensive views touching the tendency of the measure and the prin ciples involved in it. House of Ri'pre.^^kntatives. Petitions were then called for, beo^inning with low’a. When ]\Iassachu3* Us vvas called, Mr. Ad ams, as usual, disburtheneil his ponderous pocket of sundry petitions, praying for the abolishment of sla very in tlie States ;in l Territories. A petition pray ing for interference in foreign slavery was referred to the Com.mittce on Naval Aflliirs. Means 000. of the Whole House, and ordered to be printed. Mr. W. C. Johnso?i, from the Committee on Pu blic Lands, reported, by unanimous consent, a bill ‘to distribute the nett proceeds of the public lands, and to grant pre-emption rights. Read twdce, re ferred to the Committee of the Whole tiouse, and ordered to be prhitcl.» Mr. FloydU resolution respecting Mr. Webster’s interference in the McLeod case, now* came up. M.X.Floyd explained his resolution in full, and showed that the Secretary of State and the Govern or of Canada seemed to understand each other very well in this case. Mr. Ingersoll moved to amend the resolution by inserting the •words, and the Attorney General of the United States,” w'hich Mr. Floyd accepted. ]\Ir. I. then made one of the most patriotic tii'it hiive iiia'^'' in Conijres^ for vcars. that imposed them ? Vv'hat is the conduct of the Banks throughout the country? There are papc‘' guards and restrictions upon all of them—their char ters say that they shall not suspend specie payments, but redeem all their issues in gold and silver when demanded—generally that they shall not put in cir culation more than three dollars in paper for every one dollar in specie they have in their vauhs, aivi many other such paper restrietions—and do they obey them ? Let the history of the country ansv;cr. This ph.n again unites Bank and State, and pla ces tho taxes from the people in the Bank, to be used by it in its banking operations—thereby renderinr; upon the conduct of the debts. And we w'ould ask, vrhat right has Government to take money out of the pockets of the People, and place it in the hancl^ of a Bank, to be loaned out to speculators, the pro fits 'of wdilch go to enrich a few stockholders.- Besides, this linking the Government and Bank to* gether is a natural forerunner to high taxes on the People;—for, the revenues of the Government be ing given to the Bank to speculate on and make a profit, the higher the taxes^ the more revenue tlic Bank gets and the greater will be its protits. Can* not the People see this 1 The Bank is allowed to charge seven per cent interest, and deal in foreign exchanges, which po'' ers arc both onerous to the People and dangerous .0 the conntrv.
Mecklenburg Jeffersonian (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 6, 1841, edition 1
2
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