Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-05-10

must come. sud speedily eninr, when some pesh iva
action would b.eog1r uecessaf, uien tbs subject.
live cannot Lave National Bank 10 regulate ON
currency which bank woull AID aud secure re-
sumption.-lef rs have something that vii do what
can be done without a National Ba.lk 10 effect this
ohleet
! Mr. CALHoUN said, | a., yer, much graded
that the Senator from kea,neky has brought for
ward this Resolution. The Banks were about to
resume specie psyme Ills, and TINT, too without any
and from the Ge4enl Government. so much Tor
I leaving N?,ure 10 work lis own course, Mr. Cal.
honn sad he should do nohng TO aid the union Of
the Danl.s with The Government shall never AID
reu'.ion. aud | shall do all | can 10 prevent any
UNI IN. We must not unite ourselves WIN them.
DIR Calhoun then said. beIicve National Bank in
any form or shape out of The question entirely. and
lfesiabllshej, believe would do more harm than
good.
Mr.. DAVIS hoped the motion would not prevail
! He no reason for making such motion. II
the Committee OF Finance disposed 10 give us
detailed repou,-iher opinions and reasons,-the
motion might be Of more importance. Bur that e M
: mittee never had made detailed report upon this
subject, upon any great question OF this charae-
ter. Aud now. said Mr. Davis addressing himself to
the friends ofihe Administrations YOU have ed your
erimcut OF dlvorcc you lave been to all intents
purposes divorced from the Banks for the past ten
months and what Is the result You have almost ru-
med he Government and the business prospects ofthe
country. Ioui experiment has failed, and you have
had warning upon warning 10 abandon II. why not
abandon ii, then The people have hoored at it,
and upon all sles you have entreaiies and warnings
TO pursue new policy. Any thing better ihan
The present state of things, and it time for Sen
ators to learn some experience upon the subject
10 do something for the relief Of the country
The business OF 10 country under Heaven could pros
per under this Interference Of the Government in its
concerns and he trusted the Government would a
bandon It, lie hoped the resolution would not be lie
fcrred 10 the Committee Of Finance.
Mr. BENTON followed aud spoke of the NOR
al principle Of Banks. The Banks to resume,
aud no power could prevent them. The resolution
was intended TO make this shin plaster Government
down 10 penny. That was the design of the rcso
luton. 1t WIS TO be the sequence of others and Mr.
Benton closed ms remarks by saying that If he was
not mistaken he should thank the mover ofthIs Re
solution for bimeiug ii forward.
Mr.. CLAY SAID, have nothing to say TO what has
now been SAID. lie wished 10 say in answer to the
Senator from South Carolina, that the resumption
general as lie supposed But few Of the
many Banks had resumed.
Mr. CALHOUN ieloned. and in remarks
said he looked upon the Subj reasury as the great
healing measure of the Government. lie thought
The Sub Treasury had brought about resumption.
Mr.. Calhoun then begged of MIR. Wright TO
withdraw his motion to refer. lie hoped also TIA at
Nj. Clay would bring in speedily his plan ol Nation
al Bank; which National Bank however even if
created with view to regulate the currency, he
thought would be the greatest calamity that could
befal the nation.
Mr. CLAY saidhc was surprised to hear the Sen
atoi from South Carolina ask him To propose lis
plan or suggestions for National Bank. Could lie
think hlm silly as To bting forward project for
National Bank when such an attempt would, beyond
all question: fail Where majority oiIh very Sen
ate had recorded ITS names against II
Mr. PRESTON followed, and spoke at some
length in delcnce of the resolution. The Senate
had spoken upon ono provision OF the resolution,
Nh. Webstcr's amendment To the Sub Treasury Bill
and spoke afhrnali,ely. But thu House had laid
that opinion upon The table, aud this resolution would
give the House an opportunity act upon tins ques
ton. The resolution, Mt Preston wished to have
adopted, independent OF the Sub treasury Bill.
Alter some further debate the question was taken.
and MI Clay resolution referred, by the following
vote:
fEAS-Messrs. Allen Benton, Brown Buchan-
m, Calhoun. Clay of Ala Culhbert, Fulton, Grun-
dy, Hubbard, King, Linn. Lumpkn. Lyon. Morris,
Nicholas. Niles, NoWe, Pierce, Roane, Robinson,
Sewer, Smlh OF Couu., Trouer, Wall, w iIams
Wright, Young-2s
NAYS Messis. Clay ofky. Clayton, Crtenden,
DAVIS, Knight, MerfIck. Prenilss Preston, Rivcs
Robbins Rugglcs, Smith Of Ind. Southland, Spence,
Swift Talmadge. Upton, Webster, Whue--l9