Maumee express. [volume] (Maumee City, Ohio) 1837-1838, 1837-10-14
Twenty-Fifth Congress.
Correspondence of the Journal of Commerce.
WAsHINGToN Sept. 81.

on the Sth OF october, the day nXed Dy
the Senate The deposit-postponement
bill was last night reported to the House,
without amendment, and il will pass TO
might without amendment and be law
,to-morrow. Upon the Treasury note
bill and the duty-bond- postponement bill
there will be little hesitation and 4
have no doubt that the Administration
will be very willing to get rid OF further
discussion by hasty retreat from the
Capitol. The more the ub-Treasury
scheme is considedered and discussed
the more odious it becomes.
Their chagrin at its reception, and their
apprehension as to its affect on the pub
lie mind, are lily concealed by their af-
fected exultation at the adoption of the
preposterous resolution against nation
al Bank, the Senate yesterday. doubt
whether that resolution will be much
pressed in the House. Unless they
can get the precious question upon II,
thew will have to take with it a declara-
ton that the Presidents Sub b-Treaury
Scheme is unconstitutional, inconsistent
with the principles OF free government,
and dangerous to the liberties OF the
people. On account of mr.. Seargents
indisposition, the further consideration
of the resolution was postponed until
Friday next.
In SENATE Sept. 81.
Several petitions against the admss-
lon Of Texas and on other subjects (pri-
voteJ were presented and laid on the Ia
bic.
A resolution offered by mr.. Preston
referring to the committee on the library
to arrange plan for the publication OF
the manuscripts of mr.. Madison was
taken up and agreed to.
SUB TREASURY SYsTEM.-The senate
proceeded to consider the bill imposing
additional duties as depositaries in GER
tain cases on public officers.
mr.. Walker addressed the senate.
He stated that National Bank Of suffi-
cient power to regulate the currency
and restore a wholesome circulation un-
der present circumstances, would re-
qure capital of20O millions. 1t would
hold the prosperity Of the country in the
palm ofits hand; add exercise power
which would be fatal to the liberties of
the people. He spoke of the operations
Of the Pennsylvania Bank Of the United
States inhuincing the price of cotton,
and taking it from under the dominion
Of the laws of trade, and of the audacity
of the President of the Institution in es-
tablishing a branh in London.
He estimated that the Land Bill of
mr.. Clay would have saddled the
country with national debt of 40 mill
ions of dollars would have led to the
establishment of the Tariff; the Anti
Tariff party wonld have fallen in
TO a weak and powerless condition;
agriculture and commerce would have
been reduced to ruin. All this might
we'll be desired by the Senator from
Kentucky, the consistent friend and ad-
yocate Of the Tariff System. He con-
sideredthat if we had retained the u.
s. Bank our embarrasments would have
been much greater than they now are.
Hecontrasted the irregular fictitious pa
per currency Of this country, paper kites
ofeyery description thrown abroad in
to every market in London as well as at
home, with the regular, sound and re-
sponsibe currency OF Great Britain, to
show the reason for more speedy re.
coyery ofGreat Britain from the effects
of the money pressure, than ourselves.
Our present disease is over-lssue OF pa
per! To establish new bank would be
to play into the hands OF British lords
and noblemea, to increase the, power Of
the great capital hoders, the Barings
and others, who would monopollze the
shares ofthe new institution. he refer-
red to the history of the proceedings on
the bill to re-charter the U. S. Bank in
1882, for the purpose of reseuing the
the fame of mr.. Dallas from the charges
made against him of inconsistency by
mr.. Clay. A change Of rulers was the
remedy which the Senator from Ken
aueky and his friends desired. 1t would
be highly gratifying to them to see such
achange. He then drew picture of the
policy which would be adopted if mr..
Clay were in the Executive chair, and
.contraste il with the policy Of the pres
.ent Executive. He defended the sub
Treasury system against the attacks
made upon it, and characterized those
who opposed it as desiring to increase
the Executive power; and showed that
The bill ormr Rives could not command
The supporto OF the friends Of the Admins
tration. He maintained that the estab