Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-04-07
From the y atiolal In,c
THE SVR-TREASURY.


the recent proceedings of the Senate, of which
outline appears columns today The
debates III that holy. upon the great financial to-
pic for some time past, have been conducted not
only with great ability, but with uncommon ami
nation and spirit, As the decisions the pen
ding question have approached. carncstncss and
zeal increased on both sides. Late saturday,.
the rofiHg began. The success of Mr.. Cathbcri's
motion. our readers will see, struck out of the
bill all the specie paying part of it.; aud, after
scme Intellectual attempts at an amendment, "A
section was inserted, on motion o: Mr. Webster.
in place of the parts thus struck ont, making it
unlawful for the Executive to discriminate be-
ween different branches of the revenue (bctween
and-oilice money, customs. SCI in respect TO the
funds. or medium. IN which debts to the Govern
mcnt may bo paid
If the bill passes in its present shape, the re-
salt as understand it will lie, that the rcsolu-
ton of 1916 will be in force To the receipt OF
bank notes, with prohibition cf the Secretary
Of the Treasury against making any discr.mina-
ton partial orders affecting receipts at any
one place, in branch Of the revenue, and
not in all.
In the present state Of the bill. therefore. 1t
retains its vaults and cells. It's iron chests, its
Reccivers-tIcnera, &c. and disai!ows deposites
in banks bat authorizes, nevertheless, the receipt
Of bank notes in payment of dues to the Govern
mcnt.
against the bill in this shape, Mr.. Calhoun
spoke with great earnestncss, declaring that, in
stead of divorce, II was renewal of the con
neXion between the government and the banks III
the most odious form and that if the bill as amen
ded, became law. the whole proceeding would be
the greatest farce exhibited to the People by
any party. He declared himself deeply mortified
that all their excitement and their expenditure OF
time and money. at the extra session o.! Cong ress
should thus terminate in total abandonment o!
the vital principle of the measure.
The question the final passage Of the bill, in
its amended form. vii! come up to-day. We should
not be surprised If the debate should be resumed,
but the probability appears 10 be, that the bill will
pass the Senate.
How tho bi will fare in the House of Repre-
sentatives, remains TO be seen. In every view
can take OF IT. the effect Of the passage Of such
Il bill will be to create a sort Of sren upon the DO
d. polite, 10 absorb. for the support Of a useless
excrescer portion Of the body's healthfu flu
ids The idea Of rcsorng TO iron chests and
vaults, for the snfe-kcepino Of bank notes (promi
of banks to pay) because the banks ihcniseve e.
not to be trusted. Is too amusing to be Treated
seriously. 1t will be about terrifying 10 the
banks themselves az the honest Ifberian's threa
TO break bank which he had a spite against, b,
burning all lis notes he could get hold of! Sccon
only in hriancv 70 this idea is that Of panishin.
the banks by locking mp their notes in iron safe
and stone vaults, to keep them out Of circulation
Upon the whole. we incline to think that a m
jori.v of the House will admit, as do, that 81,
Cahoun's description OF the bill in its prcsen
form is entirely I1st, and that the bill, therefore
ought not to pass into a law.