Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1837-11-04
ADInrRNNENT ID CnNcrt

i
passed, which We give below. As the pero5
tween The adjournment and the oo,umencsr...
the regular session is very brief only a moub
half, many Of the members, and among Other
own, who reside st distance, viii remain Il.
during tie recess. But very few acts were ps,..
as the list shuws, but they are all of an import,
nature, and viii, no doubt, have very benss,,
influence on the business and financial concern,
tie nation Speaking Of the effect Of the mesgu,.
of relief passed by Congress, the (NNashing,s
Madisonian observes:
"The most important measures Of relief are a
issue Of Treasury notes, the extension of tie n,
chants bonds, and the pOstponement of the dqI
due by the banks. The aggregate amount Of ;
lief afforded by thnSe measures directly, is t,.enn
fire muiioRs. The Treasury notes amountno
I Sl0O0O,0O0, and bearing an interest after In
months OF 2-5 per centum, equal TO shout l..
cents per day on $780, viii 90 directly into the cI,
rency Of the country with capabilities to iauia,.
in few months, perhaps, five times the amount.
outstanding balances in the different classes of Sc
cts. The Postponement Of the fourth inStahss
although 1t was essential to save the Governner
from loan, or an IcreaSed issue of Treasury no,s
NAV not operate well upon the States, nasmNch
and in many cases pledged the faith Of the STAT
in expectation of receiving the remaining portion
the surplus of 1886. The operations OF Congress
however, have produced very sensible and favor.
| bic effect upon The money market. AT Tie con.
mencement Of the session specie was at premium
of 10 per cent; it is now down to 5. Exchange On
England, September !, was 100 10 l2l, and is nos
! ZIG. Exchange on New Orleans, which was. A.
New York, , per cent at the beginning of the se
sion, is reduced TO 10 and 6. The iayoralr
news from England, and the returning crops, no
doubt have had very great effect in improving de
market. The diminished differences between pape,
and specie, and the various indications in the none
tary horizon, give assurance OF returning confidence
and increase the probability Of an early and uniytr
sal resumption of specie payments"
All these measures of relief, be it understood, 50
important to the best interests Of the communist
and some of them indispcnsaby necessary in TIE
present posture of affairs were introduced aM
passed, mainly, by the administration party, and
were all recommended by Mr. Van Buren, in his mes.
sage. The bank wing members, TO a man, siren.
uously opposed them all, and would listen to moth.
ing but their grand panacea. 4 National Bank
Some of them seemed to exut over the pecuniav
embanassmentS Of the country, and intima,ed a
desire that they might continue ard increase until a
Banh was forced upon us. Mr. Clay even threat.
cncd a dissolution of the Union, unless such an in.
stitution be chartered. But thanks to the firmreS
and intelligence of the democratic members, such
threats and evil iorbodngs could have no effect upon
them; the banktes were met at every point, their
arguments overthrown AMI their statements refulsd,
and National Bank was voted to be inerpedienf in
the Senate by more than two to one, and in tie
House by majority of about 40.
The great measure Of the administration, how.
ever, was, we regret to say, lost, or rather post
poned; for pass it ultimately WILL we have no doubt
We alude to the DvoRcE Of Bank and State-,he
complete separation Of the Government from all
banking institutions. The bill to carry this mca.
sure into effect was laid on the table by vote Ct
100 TO l07a result brought about by the detection
Of some 10 or 5 friends of the administration. We
extract the following from an article in the Globe
. upon the subject:
"Ihe signs Of the times must he more deceptive
than thoy have been, il the final adoption Of tie
plan which looks to 4 separation of the Government
from banks does not ultimately prevail with the Coun
try Never before has measure of so much mag
nitude, and having such important bearings upor
the political as well as pecuniary relations Of thu
country, made such RAPID progress in conciliatnC
S public opinion. Within less than six weeks ae
the first introduction, ii has been approved by ont
branch Of the Legislature, and its passage in TIT
other has only been prevented by an indirect move
4 ment. SO conscious were the opposition of the IA
tor with which it has been received by the people
u that they have, from the commencement TO the end
shown Willingness TO resort to any eXpedient, how
n ever adverse to their previously avowed principles
q to defeat it. Any project, although directly adves
to the policy they profess, they counenancc viii
the votes of their wi oe party, if il can muster eight
or ten adherents from tie ranks of those whomMeI
are accustomed to oppose. They could not recrui
s so many in favor OF any antagonist scheme, am
hence they take the chances of some new panic ope
. ration upon tIG people
b "Among the attempts through which they hav
n sought to make false impressions upon the country
s was the bold assumption that the Executive wa
not sincere in the measures submitted by him.
= Driven from this shallow artifce, every cficrt WI
made, by speeches against time, and other obstru
tons to the regular progress Of egisation and wht
>, all these means had been expended, the measu
was stranged by the captivating idea that they wi
II have been aboring to defeat the will of the peol
e for the last eight years. would now appeal TO
Il This suggestion was found available with some ie
HONEST ueIHOCTdtSs anu III kdL
of sTAvE OFF. The great body of the republican
u knew full well that their constituents wished
a, vorce of Government and politics from the mont
power Of banks and nohly did their duty. Thu
IS will receive the applause Of their constituents vine
they meet them"
List Of .7cts passed at the first session Of the az
= CONGRESSMAN act to postpone the fourth nstameI
- Of deposite with the States.
An act authorizing a further postponement !
!, payment upon duty bonds.
l. An act for adjusting the remaining claims upo
'" the late deposite banks.
An act to regulate the fees of the district alto
r neys in certain cases.
-e An act for the relief OF D. P. Madison.
Of A bill TO authorize the issuing of Treasury note
= A bill making additional appropriations tor u
the suppression Of Indian hostites for the year OF
A thousand eight hundred and thirty-seven.
l. A bill making additional approprlatiOnS for III