Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-07-24

AraPAuA MONEY, we 'ealH "H' W &c
All br the Banks in this place, after
,0u n lst.-NasIrils Banner
NJ. Reed. pa wants to borrow your
~,o IT lend him my breakfast,
5 ,5~ viii do, as hay'nt read the paper
,-s.Dopdencc of the Baltimore Patriot.
WASHINGTON, July 4th.
MOTHER SUB-TREASURY BILL
REJECTED.
rbe House of Representatives, to-day
,neJ on the hands Of Mr.. Silas Wright
his Loco Foco associates, their bill,
The section struck out that proposed
brogate all law, and give over the pub
t,easure to the custody of the Execu-
Thus have the Peoples Represcn-
yes again in the most unequivocal
,ner, declared their determination to
g nothing - do with the Sub Treasury
stem, in any shape or form.
The bill was announced yesterday by
Speaker, amongthe bills from the Sen
ltwa5 rad twice, as is customary,
Instantly half a dozen members star
up. Cambreleng obtained the. floor,
said he would not propose a refer
,eof the Bill to the Committee Of Ways
d Means because, though he would
h 10 add some provisions, he continued
esmDle, and the object so beneficial
at 10 reasonable objection could be Ia
eanhe question in any quarter e y
Toe Noaorable Chancellor of the Ex.
be71sr was here interrupted By a hearty
Id general chorus of loud laughter, ex,
ressve of the Houses enjoyment of his
lro impotence.
He grew indignant at SO sudden an ex.
o,on of mirih, and declared with heat
ia. gentlemen might laugh; but so they
I'D been laughing for ten months at a bll
yhch not more than one in ten among
ben had ever read
Tais obullition had an effect, exactly
be opposite Of a sedative. The laugh.
erwas still more cordial and pervading
When It ceased Cambrelcng was heard
Coleading that the section proposed to b.
repealed, prohibited any Of the banks from
being used as repositories and that the
inhlbtol was perpetual on the Secretary
Moreover, the Sub. Treasury Scheme wa.
Established by TIE Deposite Act, because
paced the public money directly in tn;
hands Of the Treasurer
Yet, in the same breath, in which h,
made these statements, he declared tina
The Depositc Act was a nullity and ha'
repealed ITSELF.
He finally capped the climax Of hi
bold aqd absurd assertions, by saying tia
the Sub. Treasury System was the strong
eSlmeasure before the country.
Nr. MeniHec commented with rennarko
pie spirit and force on this extraordinar
speech Of the Executive Organ in tn
House. Inc mistakes of Cambrelen
respecting financial laws, were as consPicu
Gus as his blunders about the finances {
the country. II, said he, the Deposit
Act, operates as a perpetual prohibito
against the employment Of the bank
that have suspended specie payment, wh
DO we wish to repeal it?
Ii 1t be a nuITty, why reDeal it?
that case it should be eG7ectuaIlv exte
minated, without Consuming our nrecio,
ume on further action. But Mr.. Menit
argued thar such statement was an utt,
?eryerson of the fact; and he quote
Jon the late report of Mr.. Wright
answer to Webster's resolution of inouir
70 =, snow that the Chairman of the Senate
committee of Finance, had come to Ii
conclusion exactly the reverse of Can
UIeIenS'si and had set forth that il was
we competency Of the Secretary to or
Poy certain banks as repositories. T.
opinion, Mr.. Wright expressed, after
GaIeu! survey of the whole Act, and Ia
Ced Mr.. Menifee, turning directly
oalIn.oreleng,) how much SOONER 70
ITPlnlon may transcend your fnanc
oro'her's IN the House, it must be adm
Yeu you are at issue.-There is a diff
enCe IN the camp of Israel.
Mr.. Menifee then exposed in lux
and etfectual manner, the effects of
PeaIlng the Act, in placing the whole ire
4,e Of the country at the discretion of
executive: in the custody of PersC
VINO would be his instruments and age
and not officers Of the law and
uounced the presentation Of the measu
a'ler such unequivOoal expressions Of op
Gn' rs fragrant and nnmixed insult
the House.
Mr., Legare Of S. C., opposed the
II II short, rapid and energetic spec
mere he said, you propose TO sacrifice
~ instant, your whole financial system
"'Ihout debate, without deliberation, w
oe' examination, and under the press
~ ~ The Previous Question, (Cushman
leadsman, had tried several times to
.ne tioOr, for the purpose Of applying
u was 50 greatan innovation icon
ped Mr. Legare,) that one Of my
leagues in another branch Of Congr
oolenehed before It, (he alluded to
Calhoun,) that gentleman opposed It
cause Of the tremendous aceeasionto