Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1816-03-06
ID o NJ e $ T &c.
CON GREs S.
HOUSE OF REPRESENTATIVES,
NfoxDAr, FEB. %.

MONDAY, Feb. -.
After the reference of supdTy petitions, a.
mongst which was one presented by AIR Tucker
from the City of Washington, praying that the
port of Washington may be made . port of en-
try
Mr.. Yenesy, from the coromittee Of Claims,
made elavorsble crports on kiic petition OF sep
Ia fillmore aud Henry Remson and Crouder
Childs which were read aud concurred in and
bill for the relief of Patrick O'Flng, Abigail
O'Fling and Edmund o'Fing which was twice
read and committed also, bill for he rel eff of
Thomas Ap C. Jones Which was twice read and
committed.
Mr.. FOrsythe, from the COMMITTEES Of Foreign
Relations, reported a bin supplementary to the
act regulating trade and intercourse with the IN
dian tribes; which was twice read and commit
ted
The Speaker laid before the House letter
from the Secretary ofthe Treasury, transmitting
the annual account of the emoluments of the col
Iectors Of the customs which was laid on the
table.
Theengrossed bill making further provision for
military services during the late war, was read
the third time, and passed.
Then, on motion of Mr.. CaLRoHa, the House
postponed the intervening orders Of the day, by
avoe Of 90 10 63, III order to proceed 20 the con-
siderstlon OF
TIE Nc8TT0NfL ByRJv'K ELL.
The House having resolved itselfinto com.
mttee of the whole, Mr.. NELsoS of Va. in the
chair, ON that subject the bill having been read,
establishnga National Bank, with capital of
thiry-6ve millions of dollars
Mr.. Calhoun rose to explain his views of sub.
ject 50 interesting TO the Republic, and so neces-
sary 10 be correctly understood, as that of the
bill now before the committee. He proposed
at this time only 20 discuss general principles,
without reference to details. lie was aware, he
s il, that principle and detail might be united ;
bu he should at present keep them DISTINCT
He did not propose TO comprehend in this dis
cussion, the power of Congress 20 grant Bank
Charters TOR the question whether the general
tendency OF banks Was favorable or unfavorable
20 the liberty and prosperity Of the country nor
the question Whether National Bank would be
favorable 70 the operations of the government.
To discuss these questions, he conceived, would
be an useless consumption oftime. The consti.
tutional question had been already so freely and
frequently discussed that all bad made up their
mind on il. The question whether banks were
favorable TO public liberty aud prosperity, was
was one purely speculative The fact of the ex-
istence Of banks, and their incorporation with
the commercial concerns aud industry of the ma.
{ on, proved that enquiry 20 come TOO late. The
only question was, on ibis hand, under what mo
d6catiOns were banks most useful, and whether
the United States ought or ought not TO exercise
whether a 'ional Bank would be favorable Ia
the administration Of the finances Of the govern
ment, it was one on which there was SO It'll,
doubt, that gentlemen would excuse HIM If h,
did not enler into It. LEAVING all these question,
then, Mr. e said, he proposed 20 examine tb,
cause and state of the disorders Of the nationa
currency, and the question whether it was in thC
power Of Congresas by establishing Nations
Bank, 70 remove those disorders. This, he OBJ
served, was question ofnoyelty and vital irnpor
lance a question which greatly affected The cha
racter anu prosperity Of the country.
As 20 the state Of the currency Of the nation
| SIR. 9. proceeded 70 remark--that Il was extce
Inely deprecated, aud in degrees varying accord
ing 20 tie different sections Of the country, al
/ would assent That this state OF the currenc'
wss a stain ON public and private credit, and in
| iurious 10 the morals Of the community, was 81
clear position as to require no proof. TIER
| were, however, other considerations arising iron
the state Of the currency not so distinctly fell
not so generally assented 20. The state of on
circulating medium was, he said. opposed TO th
principles Of the federal constitution. The pow
CT was gwen TO Congress by that Instrument