Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1837-10-17
C0NGRES SIONAL.
IN SENATE,
SEPTEMBER, %.


The Senate proceeded 70 consider the Dill
;mDosinp additional duties, as repositories
| in certa n cases, on public officers.
Mr.. Webster then addressed the Senate
IN q sneech of about three hours in length,
the Hobbies and galleries being crowded to
excess. He looked at the scheme OF the
Government as presenting question for the
6rst time brought forward, and involving re-
suits FIR beyond the pending question and
the circumstances in which It originated.
The real question presented was-wheth-
or the Government, with the exception OF
the regulation of the gold and silver coin,
had ANYTHING to do with the exchanges of
the country. He represented that the Pres
dent found himself in position, in cOnse-
quence of the failure ofthe DepOsite Banks
to carry out their engagements with the
Government, which rendered it necessary
that he should undo all that had been done,
and tread back through the track which
had been trodden, or take the new and bold
ground which he had taken, that the Cons
stitution had removed beyond the reach of
Congress the regulation of the currency of
the country.
He went into a constitutional argument,
and also historical view, to show that there
was no constitutional ground for this new
doctrine, and that the trainers and expound-
ers of the constitution, and the statesmen
under whose administration the first and Sc
cond Banks of the u. S. were created, sus-
tanned the institutions, not for the purpose
of revenue only, but with view to regulate
the currency,
Even General Jackson himself took the
ground, in the first charge against the Bank
of the u. States, that it had not fulfilled its
obligation to preserve sound currency, and
he had declared that the State Banks were
as capable Of regulating the currency as the
Rank OF theU, {. Even in his last message the
General sent forth shout of triumph at the
success with which these banks had diSchar-
ged their obligations, and it there had moi
been the subsequent crash, the message sent
to this Congress by the President would
have echoed the triumphant strain.
He complained that the. whole object 81
thePresident and his friends seemed to be ,tc
take care ofthe Government, whose interes
in the present state of things was about a.
tEvo per cent. and to leave the people, whose
| interest was the other ninety-eigh per cent
to get through the difficulty as we'll as they
could. The Government desired to estab
fish two different currencieS, one OF gold anC
silver for themselves, and the other Of pa
|
| pie we must sit at the first table and take
first cut: you must sit at the second table
take what you can get.
In the troubles Of 1916, the language helc
was very different. Then the great ain
aud object Of Congress was to give relief t
the people.
| He referred to the inconsistency of thu
Government. In 1883 Mr.. fancy invited
| the banks to make loans out of the public
money to the merchants. But we have nov
a bill which holds this language to the pub
lie officers. Put the public money in strong
vaults, and place triple lock upon them
and if YOU lend a dollar to any one there i
bill Of pains and penalties under which
you will be subject to bill Of indictment
and to such punishment as may be directed
He considered the bill most pernicious
and referred to the circular which the Sc
cretary of the Treasury had ju issued, be
fore the bill authorizing an issue of TreaSu
ry notes had become law, addressed t
the banks, asking them on what terms they
will take these notes. placing the amount o
his credit in the bank, payable in specie, i
required. Here the Secretary had at once
given proof of his inability to devise an,
scheme by which he could separate himsel
from the banks.
Mr.. Hubbard rose and addressed some
remarks to the Senate which occupied
some time in defence of the bill and tn,
amendment of Calhoun.
After he concluded, on motion of Mr.
Grundy, the order to meet at 10 o'clocI
was rescinded, and the hour of meetin,
fixed at II.
On motion of Mr.. Buchanan, the senat,
adjourned.