Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1815-02-22

tsrred TO the com nittec on Pensions, an
Revolutionary Claims.
NATIONAL BANK.
faessagc sron the sSeaste announcin,
the Dassa sc Of the bill 20 Incorporate tn
'ubscrioers to the ban'S Of the United State
nerica. was brought up aud the bi,
real firss and second tine.
/ Mr.. Castor moved to refer the bill TO IN,
| committee of Ways snd Mems, with a vie '
70 the amendment of It's details, which pro,
nounced to be incorrect and I'm many re
spects ippracticabe.
This motion was opposed by Mr.. Forsyth
and Mr. fis-- OF N. Y. who argued in favor
OF the correctness OF the details Of the bill
| and denied that any other obi .ct but delay
would be answered by the proposed refer.
ence.
The motion was negativej. ayes SO. noes
20 or 80.
Mr. Sharp then moved to refer the bill
Ito select committee, with the following
instructions
! l. TO strike out al. that part of the r bill
| that allows fifteen millions OF dollars Of the
capital OF said Bank TO be paid In six per
cent stock OF the United. States heretofore
created and now in the hands of the stock
! holders; aud then amend the bill SO as to
allow the gos ernment to take the said ff.
teen millions on ther account.
q That all the government subscriptions
shall be paid in stock at Ave per cent. inter-
est.
). mat the government shall have a
number OF directors i'm said Bank equal to
TIC proportion 1t may have of the CAPITAL of
| the Bank Who shall be appointed oy the
President ofthe United States.
g. That 50 long as the Bank shall not
DE required to pay specie for its notes or
oiiis. or alter having Co n r eaced paying, of
specie, snail from anv causs stop the pay
ment OF the same, the government shall
not be required to pay 70 the Bank high
CT rate OF interest on any loans TO govern
uent either as permanent loans or in anti
cipation OF loans. than fodf per cent.
| 5. That the Bank shall not be allowed to
sell or transfer any part Of the government
stock that 1t may acquire by permanent
loans to government, until the end OF one
| year after the war,
In support of this motion, Mr.. 8. made
sPeech OF nearly an hour in length.
Mr. Forsyth replied to the principal
points OF this speech at considerable length
| MrsSharp explained.
| Mr. Oakley expressed himself In a
| speech oi.some length, as favorable to some
! OF the OBJECTS or the mo:ioa of Mr.. Sharp,
anu as prcferrins them generally to the
present provisions of the bill.
Mr- calhoun in a pithy speech Of mo-
derate lenyth, expressed himself in favor
OF Commitment, though friendly only to
two OF the proposed Instructions, Viz. the
reduction OF che interest on loans to the
government. and striking out the old stock.
He assigned the reasons also why the.pIan
| OF Bank now before the House did not
| meet his appreciation.
4 M H.,l<;.o M. Ixy..-L.
! and Mr.. Forsyth further opposed the com
mitment, and Mr.. Oakley, Mr.. Bowen, and
| Mr.. CASTOR advocated il.
| The question on Mr.. Sharp's motion ha-
wing been divided, the question On reference
to select comHittec was taken separate
IRON the instructions proposed to be gil
ven to the committee aud
| On the question of commitment, the vote
| stood, by yeas and nays, as folio ws:
For commitment Is
Against it 80
| Mr.. CASTOR then msved to refer the bill
to coramittee of the whole which mott
| on was decided as follows;
! For the motion 70
| Against il 81
| Mr.. Sharp then moved to amend the bill
oy striking out SO much as allsws the sub.
scrlDtion oil stock heretofore created.
ms motion was supported by Mr.. Duval,
and opposed by Messrs. Wright and Ham.
phreys; and was negatived, by yeas and
nays. by the following vote
| For the motion 70
| Against it 80
| Mr.. Sharp then moved to amend the bill
oy limiting the interest to be given by the
| government on loans from the Bank to 4
per cent.-which motion was also negativ>
ed, by yeas and nays, at follows:
| For the motion ~
| Against il TT
And then the House adjourned.
Tuesday, February II.