The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1837-10-10
amendments (Which postponos the payment 10 II day
nor,ntn viz Ihn first Of january, lS3O)


'o''"'"' Friday, Sept 90
In the Senate the sub treasury bill being under
scussion-Buchanan spoke against banks against
merchants and IN favor ofsub- treasures
In the uouse--Blddle, Of PennsylVanla, oliered
a resolution calling upon theSecrelary OF inc reus
ury for copies of his correspondence with any banks
or individual, touching the disposition OF treasury
notes, should any be issued in conformity with the
bill now before the House Laid on the table
The order of the day Che deposit repeal bll} was
then taken up and Pickens proceeded 10 sPeak Up,
on his motion to reconsider the vote by which the
0''' "1' r"'''' Saturday, Sept 30.
On the question Of re considering the vote on the
deposite repeal bill, j. O. Adams maze most d
missing and well pointed speech in favor OF his a
amendment. ,,
lie said that tho bill in its present form, though
it proposed postpone, operated IN TACT as repeal
Tie postponement, il the bill passed, would be az
GrGcus kalcndaS, the French said, to the
week with three Thursdays 1t would IN TACT be
repeal and in that view of it, he wished to call
the attention Of the House to very serious point
Amounting to a repeal, il was in fact bill to raise
revenue; and take ten millions Of money from the
pockets of the people, and to put into the treasury
Such being the character of the bill, he would ask
gentlemen whence did that Dill como? III came 10
The House from tho Senate. But was tho Senate
the place in which the bills 70 raise revenue ought,
by the constitution, to originate? This remark was
applicable to the whole batch OF bills before the
Iouse-to the whole system of the administration
all these bills to raise revenue, to replenlsh The
exhausted pockets Of the government, where did
they originate? In the Senate ?-They came TO
this House from the Senate but they did not org
mate even there. All these bills brought into this
House by tho Com mtee of Ways and means, and
into the Senate by the Committee OF Finance, vera
drawn, fabricated, got up IN the Treasury Of tic u.
Statcs! And he called upon honorable gentlemen
TO have care how they, the special, constitutional
guardians Of the people S money, received and Vo-
ted for bills TO raise revenue coming TO them out
Of the Treasury, and through the Senate.
Adopt his amendment and this objection was
avoided. The bill became bill to secure to the
States and the people the payment of money;
bill that might properly originate any where. lie
was DESTROYS to accommodate the government and
the deposite banks i'll this matter. If 1t were in
convenient to the government and the banks to pay
the money now, he was willing to give them time;
but then he wanted some security that the money
would be paid at last.
1t had been profoundly observed the other day,
by gentleman from South Carolina, that the mo-
ney Of this country had natural tendency to flow
10 The North. There was a striking proof of the
truth OF this observation in the table annexed to
the Treasurer's report. 1t appeared by that docu-
mert, that the whole OF this fourth insalment, due
the States, in virtue of tho universal law above
mentioned, had flowed into those extreme Northern
States, ALABAMA, MISSISSIPPI, LOUISIANA, &C.
There had in fact been distribution already of this
money; most unequal distribution, by which 1t
was all concentrated in few favored States. He
was willing to allow those States the of this
money for year; hut he wanted some security
that the other States should at last get their share.
Everett, of Vermont spoke in favor of re-consid-
Grafton.
A. four O'clock the representatives of tho people,
Il beg pardon-he slaves Of the Executive,-and
they are harder worked than any gang of slaves on
any plantation in the country-at the very striking
OF the hour, re-assembled. Cambreleng and Polk,
the two drivers, took their respective places, and
Toucoy proceeded with his speech. AS soon as he
sat down, the ius.rious Combrcleng himself gained
the floor; and IN reply to all the arguments which
had been urged against the BILL and to the various
attacks made in the course of the debate upon his
own character and conduct, he electrified the House
by chvalrously -m0oing the precious question:
Whereupou call Of the House was ordered.
After the call was finished and the order given
proceedings on the call. The ayes and noes on
this motion demanded and ordered Carried
Ayes 1913, Noes "a. The previous question was
then seconded, by a large majority, and carried
without u count. The main question was theu put
and the motion to reconsider carried-Ayes
l49, Noes SO.
So the vote by which the Opposite Repeal Bill
passed to Il third reading, re-considered =; the
whole question thrown wide open.
Thereupon Piekens offered his mendment.-
Haynes, OF Georgia. sprang up, and by happening
to catch the Speakers eye, he was enabled to anti
cipate j. O. Adams, and proposed as an amendment,
that the instament was not to be paid, except out of
some surplus in the Treasury.
Thereupon Adams presented his amendment and
as objections were made to the last clause of it
(pedglng the faith Of the United States,) he with
drew that clause, so that the amendment pledged TO
the payment of tho fourth nstament, only the de-
posits in the banks, and the bond of the U. s. Bank
due October 1, 1888.
Robertson, of Virginia, argued with great force
that there was no more right to postpone than to re-
fuse payment; and that the honor and good faith of
the United States demanded q full, punctual, and
precise performance of the original agreement. He
was opposed to both the amendments.
The yeas and nays called upon Adams
amendment, and it was lost. Ayes 81, Nays 1876.
Bell, of Tennessee, then moved to recommit the
bill with all the amendments to the committee of
the whole, with instructions to report an entire new
bill, posponing the payment of the fourth install
ment TO the LIST Of January, 1910, with an option,
however, to such States should prefer it, to take
drafts Immediately upon the deposit banks, payable
In one two and three years. with interest at five per
cent.
He argued that, as things would stand under the
bill hitherto before the House, the banks which
held the money, and all the debtors of those bapks
would be put the discretion of the executive for
an Unlimited time to come. A most dangerous
power taken away by this bill, which not only set.
tied the deposit question, but settled at the same
time the affairs of the deposit banks, matter of not
less consequence.
The yeas and nays were ordered upon Bells
/ nffIE