Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-01-05
DEPOSIT BANKS.

! following resolution:
( Resolred, That the Secretary Of the
I Treasury communicate to this House, if
within hs power, the dividends and sur
/ plusses which were declared by, and the
surplusscs and contingent funds reman-
! ing in the several banks in which the
public money is deposited, for the years
1888, 1884, 1885 and 1886, severally.
| The House having agreed to consider
this resolution, discussion took place
on the question whether the inquiry
should extend To the expenses Of the
banks as well as to their profits. An a
mendment to this effect having been Of
iered by Mr.. Gillci.
\ Mr.. Waddy Thompson opposed this n
mendment. He deemed it of no man
ner Of consequence what the expenses
of the banks might have been. The OBJ
Ject Of the resolution was TO ascertain
their nett profits, and their expenses would
Of course be- FIRST deducted. If an inqui-i
ry of this nature should be instituted, Mr.
II. flattered himself it would bring to
light system of corruption so vast and
so extensive, that no country whatever,
be its people ever so honest and virtuous
could possibly stand before such pow
er Of corruption. Mr.. Il. proceeded TO
instance the case of little bank in Mi
chigan, with "A very small capital, which
bank had received eight hundred thou
sand dollars Of deposite, though not en-
titled, according to its capital, to more
than very small proportion Of that a
mount. After few more observations,
Mr.. Harlan moved to amend the a.
mendment of Mr.. Gillet by adding as
follows: "and that he state also whether
the salary of an agent, at the seat.of the
General Government, compose part Of
the expenses of said banks, the name Of
the agent and the several sums paid him
by said institutions respectively"
Mr. Hannegan moved TO lay the re-
solution on the table.
A motion TO ad ourn was made by Mr.
Boon, and decided in the affirmative.
So the House adjourned without pas
sing upon Mr.. Garand's resolution.
IN SENATE.
THURSDAY, Dec. 90.
A communication was received from
the secretary of the navy, transmitting
information called for by resolution Of
the Senate. Ordered to be printed
without reading.
ADMISSION OF MICHIGAN.
Mr. Grundy, from the committee on
the judiciary, to whom was referred the
presidents message relative to Michigan,
reported Il bill for the admission of Mich
igan into the union, which was read
first and second time. The question
then arose when it should receive its
third reading. MIR. Calhoun, after some
remarks on the Importance Of the ques-
ton, moved to postpone the farther con-
sideration Of it till Thursday, and make
the bill the special order for that day. II
Mr.. Grundy opposed this motion; he
thought the sooner the matter was deci-
ded The better. Mr.. Calhoun expressed
his disposition to consult the wishes Of
the senator from Tennessee; and after
conversation, in which Messrs. Morris,
Buchanan, Benton, and Grundy took
part, the bill was postponed to Monday
next. !,
Mr.. Calhoun offered resolution call
ing for information from the Secretary of
the Treasury, relative to the disburse-
ments for the current year. Adopted. I
SPECIAL ORDER.
The Senate then proceeded to the far
ther consideration Of the resolution of
MIR. Ewing for resembling the Treasury
circular and the substitute for it offered
by Mr.. Rives. Dir. Morris was entitled
TO the floor;-but gave way to Mr..
Soulhard who spoke at length on the
general subject Of the order; without
concluding Mr.. S. gave way at O'clock
for motion TO adjourn. l.
Mr.. Rives here rose and said that he
had an amendment to offer to his resolu-
ton, which might perhaps prevent far
ther discussion. He then proposed so
to modify it as to give to the deposit
banks, under the supervision and control
Of the Secretary Of the Treasury, the
privilege Of determining what notes
should be received in payment for the
public lands. The amendment was or
dered to be printed, and then on motion
OF Mr.. Clay, the Senate adjourned till
Monday. Il
HOUSE OF REPRESENTATIVE 4
After the journal was read, /
The memorial from certain citizens Of
Pennsylvania, presented yesterday by
MIR. Galbraith, complaining Of the over
issues Of banks, and the re-issuing Of the
notes Of the old Bank of the u. S. by 4
the new Bank, and praying Congress to
inquire into these matters, and provide
cornc remodx Cor ,bo o,;l, ,.,. al .. 49,.