Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1833-12-26

swi(t. Hill, Smith, and Shepley. , g.
On The Contingent Expenses q The De-
.ot. -Nlessrs. Tomlinson, j. 1almadee'
I'm Eneyossed Bills. ls.-Messrs. Morris
and Robinson. xv or
The annual report of the Secretary VI
,h. Treasury was received and looo CO.
,,;es oroercd TO be printed. The Seha'e
passed some time IN ENecu',Ve o"S''
In the HOUSE, Tuesday Dee' i'ml
A number Of petitions were p,es.''''
and referred to different committees
Mr. POLK. from the Committee OF ways
and means. reported bill making par
tial appropriations for the support 0,
Covernme Mt; which was twice read anu
committed. -, ..,J
Several private bills were rePo,sea1 P,,"a
from various committees, and coihmi''eo'
The Deposite Question" -,
The House resumed the consdera-
,;on oESNlr. Pok's motion to reconsider
The reference of M. Taney's RePort,on
the Removal of the Deposltes, to com
mittee of the whole. Ic.
Mr.. Burgess, who had the floor, Qrom
having moved the adjournment last even
;pp.) had declined avaIling himse'i o'
the priority of right to address the House,
and had yielded the floor to MT Ciay-
ton. of Georgia, who rose Tor the pur"
nose oC vindicating himself from what ne
conceived a misreprese sc ntailon on the
mart or MIR. Beardsey, o: New ork.-I
THAT gentleman had charged him, he
said. with inconsistency in consequence
Of his taking this position; that although
Le was oppOsed to the Bank oi the U.
States. and did not view the public mon
cv, as safe in that Institution, he disap-
proved of their removal to Stale DahEs'
of which he knew nothing, but which ne
held TO be still more unsafe than inc
Rank from which the Deposites had
been taken. Mir. G.. denied that there
was the least Inconsistency in holding
and ayowng such aa opinion. lie did
not believe the public money perfectly
safe while in the keeping OF any corp.o-
ration, whether for banking, for roads,
canals, or any other purpose: yet he
might very consistently believe It more
unsafe in the hands of some ofthese cor
porations than Of others. AS TO me
State Banks, they might read their late
in the treatment which the Bank oil the
United States had received.
The momen mt their directors should con-
clude il due TO the interests oftheir stock
holders TO make any publications illus
tratiye of the condition OF their affairs,
especially if the tendency OF such pun
Iications should be suspected OF having
the remotest bearing Oh any Pehui"s
election, they might calculate on having
the public money immediately taken
from them, and every attempt made to
ruin them; and as their capitals were
smaller. they could not stand the same
nress,,re Rcsides,the Government had
a martial control over the Bank OF the u +;
States, having given II It's charter, ana
retaining a share in ITS dIrecnon; but
over the State Banks 1t had no such con-
troI They were therefore obviously
less safe place Of deposte Tor the pubic
funds.
Mr.. C.. insisted that committee OF
the whole was the place where this qnes-
tion would receive the speedIest deci-
sion. and, therefore, he should be IN Ia
vor Of giving the Secretary's Report that
direction. He need not advert to the ei-
feet of documents thrown into this House
in relation to the subject of the Bank
and the Depos,es, or the speculatlons
which were constantly going on IN I nj
ted States Bank Stock: and would not
the same thing happen, and to stu
greater extent, in relation to the stocK
or State or local Banks, where the pub
lie funds might be deposited! Was 1t
not plain that wider door to fraudulent
speculation could not by possibility have
been devised? Al that was necessary
wos for the Secretary to communicate to
few favored individuals, that he was
about to remove the public money from
one of these Banks into another, aud nm
mediatey an opportunity would be CIV
en- TO spcculate in the stock oil both.
The Secretary had proiessed to give
in his reports, all the reasons on which
his removal of the Deposites was foun-
ded. Now he had either removed them
on these reasons or not. ii he had, ,theh
from the nature Of these reasons, the
committee of the whole on the state oi
the Union, was the appropriate pace to
consider and discuss them; but, II other
reasons were to be fished up for the act,
from facts to be brought before private
committee, then the reasons he had o.
fcially given to that House, were not
the true reasons on which the Deposites
had been removed Mr.. &. SAID, he
maintained now, as he ever had, that the
United States Bank was not safe or
nroper place in which to keep the pub
lie funds; but he held them equally un-
safe in the hands of corporate bodies of
any description. lie had never been