Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1832-01-31

That being thus called upon, he would state
that tho Committee Of Finance. were dill q
gently employed III tho discharge of their du
tics they had before them bill, and would report
as soon as practicable.
MIR. TYLER said, that n member Of tho Com
mittcc of Finance, he felt bound to say, in refer
encc the subject before that Committee that all
hope of amcabc adjustment had passed by; no
member had been more dcSrous than himself TO
bring about, u satisfactory arrangement of the Ia
riff:-but he was tho only member Of the Commit
tee from tho south of the Potomac river and his
was the only voice raised i'll it IN favor Of the in
tcrcsts of that portion of the country. iie was
therefore, converted into mere cyphcr, having no
effective influence, over the course ct tho Commit
tee. All the responsibility of whatever they might
do, dcvolvcd upon them: lie stood clear Of it.
Mr.. CLAY said he had opposed the postpone
mcnt of the resolution to Monday next, because
he thought ii highly important that tho decision Of
the Senate upon that resolution should he obtained.
ontii the principle involved in that resolution be
decided The Committees wonld not be able To go
on Inc Committee on Manufactures was anxious
to proceed with its business, and to have the de-
cison ct the Senate on this resolution. No mo-
ton of postponomcnt had come from the friends
OF the resolution. 1t had, again and again from
time to time, been postponed at the request Of its
opponents. He aware that have set, for
tomorrow and next day, some business of import
ance, but he knew no business before Congress
so important this which is now before u.s. In
regard to the remark of the gentleman from Viz
gina, that he was the only member OF the Com
mittee on Manufactures from the South of the Po-
toinac, he would observe that the gcntleman's re-
collection did not serve him. The Senator near
HIM, (Nlr Johnston) was member of the Com
| mittcc.
| Mr.. TYLER intended to convey the idoa, he said,
that he the only member Of the Committee
| from the South OF tho Potomac, who was opposed
to the protective tariff.
| Mr.. CLAY hoped the Senator would profit bv this
circumstance, and not separate himself from his
friends. The Committee on Manufactures were
not fully authorized to treat the subject of Finance;
and he did not how it was possible for either
Committee to act before the principles which
were to govern their action decided
on. AS to compromise, If by compromise
! was meant tho abolition of the protective
principle, there will be no compromise Blu
! no would not lightly, nor till every effort was
exhausted, rclnqush object which was so dear
to the country and TO his heart. But that
| question is to be decided with the question intro
duced in this resolution.
MI. uAYNE was, he said, much mistaken if
the motions FIR the pos;ponement of this sub ct
mad come from the opponents Of the Resolution.
i The subject was post oned once, and, for many
days, on the motion of the Senator from New
Jersey, Oar. Dickcrsou) in opposition to tho
wishes of the Senator from Kentucky as he
might reCoIlect. Let the discussion proceed
whenever the friends of the Resolution please
| we are ready to pursue it. II. as tic gontlc-
man suggested. there was no hone OF any com
promise without an entire retention of the pro-
q
revenue system, there was 10 doubt or dispute.
1t was to the protective system that opposition
was excited throughout the country. If the
protective system was not 10 be touched, there
was, indeed, an end, now, and forever, TO all hope
oil compromise. But he trusted the Senator
from Kentucky would change his views; nor
shou he at once, relinquish his hope Of con-
cIl!aiory arrangement.
Mr. Marcy (of N. W said the hope of COM
(On ha H. ,,.l,e
was not he believed, so desperate rs the gcntIe-
man from Virginia, (Mr. Tylcr) represented it.
A majority OF the Committee of Finauce was in
favor of retaining the Protective System, but he
believed something might be done which if not
satisfactory to ALL would much lessen present
dissatisfaction. The prospect of eficiing an ar
rangement, was not bright, but still not despe
rate.
The resolution Of Mr.. Clay, was then passed
by, and the Senatc considered and rejected Mr.
Van Buren's nomination.
On THURSDAY, Mr.. Marcy of N Y. presented the
memorial of David Henshaw and Others citizens of
Massachusetts, praying that when tho Dresont
charter OF the Bank of the United States eyprca
Inc mcnorlaists may be permitted 20 establish n
Bank with powers and obligations similar 10 those
g uhdef winch the present Bank of the United
States was established. THE petitioners proposc
Bank of fifty millions-onc half TO be Subscribed
by the government, If desired, the other half by
the citizens at largc-tO pay the government as n
pohuS, an annual TAX OF one per cent. the capi-
tal-also, such tax on the actual capital employed
by any branch in any State, as such State shall
impose on Its other banking Institutions not ex
ceeding one per cent.-dircctors to be appointed
oy the government In proportion TO the amount of
It's stock-the charter 10 continue for twenty years
, These are the prominent features in the propo-
scd Bank. r''FO
In support Of their application the petitioners
MAINTAIN that the capital of the present institu-
ton is Chelcffy in the hands of foreigners and n
lew wealthy American citizens, to the exclusion of
other citizens from the enjoyment of the privilege
Ihcy maintain that the present Bank charter
might expire, and the concerns be closed without
material injury to the interests Of the country
as the capital of that Bank was but small nor
tion OF the entire capital Of the country vested in
similar institutions The State of New York alone
had rising of21 millions of vested capital and
the proposed institution might be made to take
effect immediately upon the expiration of tlio
present Charter of the Bank of the United States
Mr. Marcy observed that the present memorial
was signed by large number of the most wealthy
and respectable citizens of the State OF Massacbr
setts, and he M owed that the mamoraI be printed
for the use of the Senate.
Mr. Webster said that the memorial presented
by the rentlcman from New York, although from
citizens OF his State, had never been comm,
nicated 10 him. He had no knowleJoo of the
subject or tho intention to make the communica
tIon until this morning, although he was n mem
Der of tho same committee with the gentleman
from New I DIRK who presented il. He tbouoht
the direction which the gentleman had PROMISED
to give the memorial was proper. He had looked
over the names of the subscribers TO fine manor
and he must say that there were some very rcs,ec
table persons that had signed it, some names in
deed that Ito had hardly expected to find affixed tc
SO singular an argument He thought that it might
a. t.,