Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1832-12-17

millions, TO be paid before the LIST OF juiv, tne
debtors Of the Government would require all the
farb.arance and all the aid which could be gwen
TO them; and that the payment proposed' oy ere
ating demand for the remittance OF sesera' NIL
lions Of dollars to the European stocKhoiaers'
would tend to diminish the usuai faciiities auoro
ed to the debtors Of the Government. and might
endanger the punctual payment. For th's rea
son, thought II Tor the interest OF the uoVern'
men, to postpone the payment I'LL the next quar-
ter. further stated, that the plan OF paving to
each stot khoIder ONLY one half Of his loan. would
not be so acceptable as If his whole loan were re-
paid at once.
Having thus performed mg duty, in giving
the opinion asked. left It, of course. to the
Government to decide. On the part OF the Bank
sought nothing, aud requested nothing. Alter
weighing the circumstances. the Government
were DESTROYS OF adopting the measures; but the
diff ulty understood to be this. that the SINK
ing fund would lose the quarters interest, from
July to October. OF the sum intended to be paid
In July. aud that the Government did not feel
itself Justified IN making the pos'ponement, I'M
less that interest could be saved; but that II
would be made. provided the Bank would make
the sinking fund whole on the lst of October.
To this sand that, as the Bank would have the
use Of the fund during the three months. II would
consent to save the sinking fund harmless. BY
paving the three months interest itself. And so
the matter stands.
"Now, it will be seen that, ~ all this, the
Bank has had not the least agency, except to OF.
fer its opinion, when it was asked, in regard to
measure proposed by the Government. and
then to offer its aid IN carrying that measure into
operation,
Did not this very gentleman from New York.
Mr. M vai thp frlpn nf he
commercial community, intcrpose his own rs.
quest to the Treasury, that it would stop the
payment of this three per cent stogkl And was
he the only gentleman unlriendy to the cause Ct
the Bank, who pressed such measure on the
Head OF the Treasury? After waiting for re-
ply. Mr.. w. proceeded Yet we are told.
that the Bank was unable TO meet the payment
of the stock on the lst of July will now in.
qIire what amount of the public debt the Gov
eminent proposed to pay in 1892 According
to my recollection, not l5,000,000 Probably
about 10 000.OOO. 1t might b. well enough.
too, to enquire Why, about three days after the
adjournment Of Congress, the Government en-
gagged to pay l5.000,000 when they knew there
would not be money enough in the Treasury 10
meet 1t: 1t will not. 1T course, do for me to
say that it was dnne purposely to embarrass the
Bank. and to add TO the weight thrown against
i, by certain very popular document. So much
for The postponement Of the three per cents.
AS to the negotiations Of the Bank in Europe,
shall look into that subject when | shall have
had time TO examine the documents now submit
ted tn us upon the call of the gentleman from
New York. cannot consent To append his
document Ia mine, because | consider the one
as peculiarly fitted TOR the use Of political stock
j"bb.rs. but the other adapted TO enlshten and
satisfy the commercial community IN this c0un
Try. The gentleman seems to fear the effect of
having this document put INTO their hands. lest
they should become satisfied as to the safety of
their funds as at present deposited, and the
Treasury should hear their Voice laundering back
prohibition against their removal.
Mr. CambreIeng. There are many diseases
IN our land, besides the Cholera; there are many
kinds of fever; and among the rest there are po-
lihcal levers, which have their premonitory symp-
toms IN like manner There is a disease which
has been very prevalent in this country, and
what has been remarked to rage most violently
in those particular cities where the national
Bank has its branches established; il Is called by
some the Bank fever. | do not myself know
whether any gentleman of this House is. or is
not affected by this specie, of fever; bnt have
heard Of one case Of the Bank running against a
gentleman of this House, who found it most
formidable opponent indeed; much so that he
was heard TO express the hope that the Bank of
the United States would not be set up as a can.
dida'e Tor the Presidency. This Bank fever is
sad to prevail IN certain other portions of the
United States, and some symptoms of il are
even said to have appeared in certain gentle
man. do not know exactly where. but | be-
lieve somewhere beyond the Mountains
should like to be rs much benefited b. my pre.
monltory, as l understand tina; that gentleman
was. Sir, the gentleman from Keatuckv talked
about ''Stork j'bbIng. "and about .sWall street."
Thank God tnat no one has yeu been able to
bring any impu,ation d man of business Who.
ever aims the blow, ''0ur withers are unwruou:''
but II the gentleman shall push the enquiry, he
may perhaps discover that some of his own
friends have been concerned in that business in a
manner which deserves the censure OF this House,
and the Reproduction Of the country. will give
the gentleman facts. frcm the document publish
ed by his own authority. and yesterday brought
INTO ms House; and now To put aside at once
the whole OF what the gentleman from Kentucky
has said, | ask the House to hear what The |