Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1838-02-21

Word and sending the matter back for !
new election by the people.-Boston
Press.
"WEDNESDAY, Feb. 7.
SENATR-Mr. Linn, introduced a bill |
establishing the Oregon territory, which |
was referred to a select committee of five. |
The remainder of the session was taken |
up with the discussion Of the Sub-Treas-
ury scheme, on which Mr.. Hubbard made
a long speech 10 defence.
In the House, a message was received
from the President covering information
relative to the Exploring Expedition.
The pensioners appropriation bill was
then taken up and discussed.
THURSDAY, Feb. 8.
SENATE.-The Sub-Treasury bill
was again discussed, and after an execu-
tive session, in which the nominations of
II. A. Muhlenberg as Minister to Austria.
and E. t. Throop as Charge to Naples,
were confirmed, and the Senate adjourned.
In the House bill was reported ex-.
tending the time allowed by law to wind
up the late U. s. Bank. After discuss
ion the bill was recommitted.--B
~. .a-". FRIDAY, Feb. g.
In Senate, the sub Treasury Bill was
again debated by Mr.. Smith of Indiana in
opposition. . .a. ..>gltsa =.
In the House, the resignation Fl. A.
MuhlenbeTg. as member, was read.
The bill TO grant one hundred thousand
dollars to the heirs Of. Robert Fulton, was
finally passed. l12 to 60. FAM. "A 49,
Both Branches, adjourned over to Mon
day.-Ib. .. n-.:-..
SBsATE.-The ub-Treasury bill COM
ing up, Mr.. Rives offered his substitute,
Of which the following is an abstract.
! /. The first section proposes to limit
the number of banks to be employed as
repositories to twenty-five, to be chosen
from the most solid and respectable, and
selected purely with reference and limited
to the wants and convenience of thetreas-
ury.
| 2. The banks to be selected 10 be spe-
Gle paying banks, and each to furnish the
Secretary Of the Treasury a statement Of
IT'S business and condition, and copy of
its charter.
! 3. The selection. If made during the
session Of Congress, to be first apprOre1
by joint resolution of both houses, and if
made during the recess, to be submitted at
the commencement Of the ensuing sess-
ion.
4. The banks to be employed to receive
the deposites on the following terms and
, conditions:
1, lst. That each bank shall furnish a
weekly statement of its condition and bu'
siness-also OF the United States Treas
urer's accounts on their books, and the
Secretary Of the Treasury, by agent, or
otherwise, to be allowed to inspect such
general accounts IN the books Of the bank
I'd. To credit as specie all sums dePos-
I tied therein to the credit of the Treasur-
! er. Except Government paper.) and to pay
all checks, &C., drawn upon such depos
ties, ia specie, if required
Sd. To give the necessary facilities fol-
transferring the public funds from place
to place without expense.
!. 4th. To render all the services to the
government heretofore required of the
Bank Of the United States and its branch
e es
: 5. The banks to give ample security
a for the safe keeping Of the public money
i and the performance of the duties requlr
4 ed by the act. 81 ...
6: The Secretary Of the Treasury au
thorized to contract with the banks TO: q
on behalf Of the United States.
= z. Any bank failing to fulfil lts con
I tracts. OF TO redeem its notes in specie, o.
Z IT the Secretary Of the Treasury, nav
{ good reason to believe any bank unsat
! as depository. il is made his duty to DIS
= = continue il, and 70 report to Congress tn
II hcts and reasons thereof Congress, how
A. ever, not prohibited from removing the dc
& posites at any time, or changing the term
X Of deposite, &c.
= 8. Deposite banks TO make settlement
ni once week with the banks IN their yict
= iiy with which they have transactions.
:, the balancesto be demanded and paid
"a specie. whenever Il shall be necessary
IA check tendency to over issues
er 3. The Secretary Of the Treasury
"a employ all means in his power TO indus