Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1836-05-10
Correspondent efhe NJ Y Commercial .9dreriiser
WASHINGTON, April &c.

WAsnINGroN, April &c
A report from the Treasury Departmcnt:on the
subject Of the deposIte banks IN OHIO and the north
wcst and Of the sales Of lands in that religion was
presented in the Senate to day, most ominously
long. There was not patience enough to hear it
out, and it was laid on the table. memorial
from large meeting at Cincinnati, praying Con-
gress TO recognize the independence of Texas was
also laid on the table. A bill for two armotise
IN the south and west, aud for other military mat
tiers, was brought up by Col Benton Mr. Davis
brought in bill making the duties on worsed
goods specially enumerated in the tariff oflS32,
Z t'.s ~oileno.
The lane bill came up carly. The gallaiies
crowded mostly with ladies', and large number
could not ret in. Mr. Clay was very successful in
his beginning. After mentioning his bodily and
mental ndispostion, which lie said had prevented
him from doing much this session as he other
wise would have done he replied briefly aud sharply
to the reproaches which Mr. Wright had cast up
on Mr.. Sou'hurd, as attempting to create a panic
to inlnrc che experiment. to sneak dsrespectful-
y Of the psrty. aud to assault The yoneraed pree-
dent.
/ lie repaid Mr.. Wright in kind. He charged upon
him the attempt to create confidence in the public
mind which could not fail to deceive them. He
stated the liabilities Of the dcposite banks to be a.
bout three times as great their immediate means.
/ There were s 40 600 900 Of the public money in
thirty -four banks, without interest aud without Sc
csny. At least II any security bad been obtained
IT was not only not in conformity but in contra
vention Of law. And the security which the banks
themselves possessed for the public money loaned
on interest, was probably no better than the notes
Of indviduals. Mr. c. askcd Mr. w. to say he
himself had any confidence in a state ofthings;
aud # he had not, it not much more be
coming in public Waterman 10 warn the people
seasonabiy Of the danger. than to deceive end be-
tray them with the cry of peace and safety when
there was no safety
An assault upon the president and the party =
Mr.. c. insisted that the president had the power
to destroy all, or nearly oil, the thirty -four pet
banks, at any moment. He could at any lnomen,
withdraw from ALL or any Of them, the whole OF the
public money IN their possession; and how could
they meet this crissl And what vast pollt!cd
power was here, if the president saw fit to use ii
Mr.. G. would now bring charges against him.
lie en him in hands of history. and she would
deal with him according to his deserts.
He commented on the. treasury circular, which re
quested (polito Mr.. Woodbury. , the pet banks tc
Issue no notes under FIVE dollars for certain time
and then lees than dollsr. and this request
was enforced with the penalty Of loosing the pub
lie money And this power, as well as other pow
tFs5 tNch as HdI ut'N ltll ny the ONO banks,
exercised il the face Of Congress, while they were
deyi,inr what ought TO be done. lie further insist
ed that general crush OF the paper system was
hand and inevitable. He briefly noticed some G
the causes which are leading to this result, AM
, which have produced the presen, embarrassed con
dtiln Of the currency among whice he particularly
specified the money IN the deposlie banks, and stat
ed that the pressure is most felt in The vicinity Q
those banks and IN proportion to The amount Of In
+ public money IN them respectively.
e lie ndcu.ed Col. Benlon's idea Of spending III
, greatest possible amount ofmoney for several year
p on the deiences ofthe country. 1t was unpreee
dented aod before unhesfd Of Was there ever
r British Parliament The. weut 10 the king and far
10 "Sre.we wish you 10 tell h)w much money you CO
n possibly speud| Was there ever any such pro
e position made before 10 this country Mr.. Secre
= iary Cas- had made fair and able report on ID
+ subject, laying down a plan Of expenditure whic
y would require about the usual am,uut. Bat hi
would not do. Col Benton and ms fellows 10
$ besieged besougbt aud teozed The department f.
i the nariTun. the very largest amount that coul
. in any wsy be expended. Csss and Crstoi BOT