The enquirer. [volume] (Richmond, Va.) 1804-1815, 1815-01-25

| emy. and therefore recon menCling that the
| petition be not granted. --Concur7.ed IA.
| MIR. Adjourn or ONO o.f-red for consider
| alton the following resolutions
KesOtyed, That the Committee of WAYS *
| means be instructed to enquire into the expe
diency of laying and collecting income
! tax from such people Ct the United States, rs
have capital vested in public any Kind of
stock, or in private loans, or IN any other
way yielding profits T. the owner aud ON
those who are engaged in professional or 9th
er employments, producing an annual income,
exceeding certain amount, winch the salt.
committee may think proper to fix 1t being
| intended that TINS enq,niy shall extend oniy
TO such capital and ennpioy ments as are not
, taxed by any existing laws
tcSD(yeG, that the Sillti committee be in
! structed 20 enquire into the exped.ency Cf
increasing the tax upun the income or div,-
dcntls OF the capital vested III the several
banking institutions witain the United States,
on wh-:h tax Is now imposed by law OF
Congress.
On the question now to consider this reso-
luton, the vote was as follows:
For It's consideration 60
Against 1t %
Mr.. Jackson Of Va. moved that these resp
lutlous be printed, with view ia calling
them up at some future day He could not
see, he said, why vast mass of property,
ell 1t all, should not be taxed wall As all
the land, and nearly all the industry OF the
nation.
This motion was opposed ~ Mr.. Seybert,
and advocated by MIR. kibuuin, and neg atty
ed by the following vote:
For printing IS
Against it o8
The House then resumed the conslderati-
on OF the message from the Senate annuunc-
TINS house to the DILL to incoI porate the sub
scrioels of the Bank OF the United state. Of
America.
The first amendment having been stated,
which proposes 10 make tue capital or the
Bank Mir1yfUe millions instead of ksirfy mil
LIONS
Mr. Df'Kee ofEy.expressed his hope that
the amendment would not be agreed to, con-
sdering 1t rs the keystone of al the amend
ments OF the Senate. He could see no posi-
bic advantages to result from the addition of
i've millions of capital, particularly as con-
nected with the section authorizing the stop
page Of payment in specie. He could see 10
consequence to result from that clause, which
was not disastrous and runous, &c. and ne
therefore hoped it would not be agreed TO.
Mr.. HazykmS Of Ky. denied the applica-
bility OF the remarks of Mr. M'Kee 10 the a
mendments OF the Senate. The only questl-
on, SINCE tue Senate had agreed To eXpunge
the condition OF permanent loan TO the go
vernment, was, whether the Senate should
be accommodated by increasing the capit.l
o, the Bank oy the addition thereto of tive
n1iillcng /; Tor IA fact, tee retention Of the
Clause authorizing the suspension OF specie
payment was imDaterial, unless that il is
more exPedient to incorporate such provl-
sion at once, than yield it TO the Importantly
OF the Bank hereafter. For he had no doubt
u the war continued, the Bank must sooner
or later suspend specie paynent-eyen the
banks Of Kentucky and OHIO (Nynere specie a.
bounded) had at length been compelled in
SS!t-detehce to stop payment OF specie. Tie
advantage 70 government in the proposed "a
mendment, Mr.. II. argu,t would be found
IN the taking out of the na,Ket so much more
OF the war-stock, Sc. Something, he con-
tended. was due to the Senate, III the spirit
OF accommodation which that oody mad ex-
hibited IN yielding SO far to- the wishes of the
house, as to accept the greater part of the
ainendments-and particularly inasmuch as
in several cases OF difference with that body,
the house had exhibited much pertinacity in
adhering to its peculiar opinions, &C. &c. He
treated AS altogether ideal the argument Of
danger to the existence of the Republic from
the refusal to incorporate Bank. He had,
he said, a higher opinion Of the destnies of
this government, and of it's durability and abb
fty TO overcome every difficulty opinions
which gained ground by every days expert
ence, sc. &c.
I'Ir. Sto kton of ". J. rose to say, that he
and those with whom he had acted in the
concessions they had made relative 70 the fea-
lures of the bank bill, had gone as far as
they could go, and further thin they had O.
liginaliy intended, in order 70 conclliate with
gentlemen on the other side Of the house.
After they had done this, it could not be ex-
pected, he said, thns they should recede, He
wished IT therefore to DC understood, that,
whilst ne should be happy to pay all due res
pect to the other branch of the legislature, il
| could not be expected that they would yield
up to Them their honest convictions and
therefore, that they could not yield their as
sent TO the amendments of the Senate.
MIR. JIright of Md made speech Of
| some length expressive of his hope that a
spirit Of accommodation would have lndu-
ced the house once to have aCceded to
the amendments Of the Senate, which lie
deemed advantageous He considered il
particularly important that provision should
| exist to prevent the agents or friends of the
enemy from drawing ali its specie from the
| vaults Of the bank The state Ct war lac
| considered as changing essentially the usual
| state of mercantile operations, and requiring
from the banks a Suspension Of payments in
| specie. Hle concluded his speech with the
/ fllotviuc quotations f..or., Istrai outbcri,;ra.