Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-07-17

CALHOUN himself Below We publish ne re-
marks Of AZ. Webster explanatory Of the pro
visions and tendency Of the repeal, together
with the views Ofother Senators, and the final
vote on the question. Van Buren,, like Cesar,
has anobsequiOus Senate at his heels. but the
people, through their immediate Represents
lives have sufficient power left to counteract
the attempts Ofthe would be despot to enslave
the nation.
Mr.. WEBSTER said, there Is no time to dis
cuss this measure further-at least / do not /
feel called upon to pursue the discussion fur
ther-but viii ask the indulgence Of the Sc /
nate for a few moments while explain what |
the state of things win be, according to my |
understanding, # this bill shall become |
Jaw.
First, then, after the first day of October
next, no bank bin, great or small, can be re- !
ceived at the post-office, or the land Office, or
the custOm-house, if the bank which issued il |
issues bills less than five dollars.
This will necessarily exclude the paper
Of nearly all the banks in the Northern and
Eastern States, and several others. An this
has been already repeatedly shown.
In the second place, no bib Of any bank can
be received at the post Office, the land office,
or the custom-house, which bill is of less
denomination than twenty dollars. This is
prescribed by the last treasury circular. Now,
sir, what is the plain consequence Of this!
How are hostages, or small postage accounts,
to be paid in twenty dollar bills! How are
postmasters to pay back the change! If the
deputy post officers in the country obey this
circular, it viii be the occasion of perpetual
lie.
have supposed, also, that this would be
found very ineonvenient in the operations at
the land Offices. If have been rightly In
formed, it is not. in some of the new States,
always easy to obtain DlllS ur 4 uenUmIlauOE
of twenty dollars, or upwards. And have
supposed, especially, that the poor people who
purchase foFty-acre tracts would be put to
considerable inconvenience. In the bill which
introduced into the Senate a section was con-
tanned remedying this inconvenience, and al
lowing smaller bills, if they were the bills of
specie-paying banks, to be received. This
provision, however was rejected, together
with all others which the bill contained
Having spoken, sir, the other day of my bills
having been Ouerlaid by that of the honora-
bic member from Pennsylvania, or Of his be-
lng used as an instrument to displace mine,
wish to say that meant no complaint at all
against the manner in which that gentleman
brought forward his measure. His course
was entirely fair, as he proposed throughout.
His object certainly was to pass his own bill,
not to displace mine; yet, my bill being dis
placed, there was majority against his.
In the third place, sir, it is evident that the
repeal of the depOsite act leaves the public
moneys in the entire control of the Treasury
/ rff1 nd Al.
manner as this control existed in their hands
after the removal Of the deposites, and before
Congress provided any regulation on the sub
ject. BY the act of 1859, so much relied on,
the Treasurer is to receive and keep the mo-
MES of the United States, but the Secretary
OF the Treasury is to superintend the collec-
ton of revenue; and it was the well known
doctrine and practice of the last Administra-
ton that all these officers, in the discharge Of
their duties, are under the immediate direc-
ton of the President, and are but his agents
and instruments. So that the public moneys
are now to be received, kept, and discussed
as the President may see fit to order.
In the last place, sir, it is quite obvious that
the Secretary Of the Treasury, under direc.
ton of the President, may if this bill shall
pass, use any State banks he chooses, whe-
Their they be specie-paying banis or not; Oh
whatever may be their character or condition
He VIII not be obliged to use banks; but he
may use them, and may select them at his
pleasure. \, erepeal all limitations, we dis.
pense with all securities, and leave the whole
matter to the Department and to the President
! believe, sir, that the collectors now deposite
a. 1ly L,..ri1r5 nate III
doubt they will continue to do So If they
shall be called on to pay money In the banks
| 0f tnk Il, L. l. -
IT! n bile we thus repeal all legal connex.
ion with the banks, guarded as that connex-
ion has been, by many provisions of the secu-
rlty OF the public money, we are likely to see
a conneMon renewed, without legal sanction
or authority, with no provisions, whatever, for
security, and to be extended just as faras the
Executive Government may choose. This is
the point, then, TO which we have now arriv-
ed, IN the process of separating the concerns
OF the banks, and keeping the money of the
people out Of the hands Interpretations and
individuals.
Mr.. PREsToN followed and spoke at length
IN opposition to the bill, as a lerislatiye
surrender of all power over the public money
INTO the hands of the Executive, and a legal
confirmation of that assumption of power
made by President Jackson In 1884 and
which ne then declared was made for an ex-
traordlnary and temporary purpose, and which
ne afterwards urged Congress to withdraw
from him. and to regulate the subject by
law.
A conversation by Messrs PRESTON and
STRANGE followed chiefly on party political
! topics.
I'M. SMITH, of Indiana, said, had this
question been under consideration at an earlier
period Of the session, he would have felt justi-
fed in OBTAINING the Senate while he gave his
views upon it. He was aware, however, that
at this period of the session he could render his
State and the country greater service by re-
naming silent, and saving the time he. might
occupy in discussion, to be emploved n usefnI
action, than by any thing he could say on this
| subject, at this period Of the session. TWAS
acton, and not speeches, that was called for.
The session was In the last week, and much
important business remained to be transacted.
in which his State and the other States of the
Union were deeply interested; and however
much it would have gratifed his feelings 10
have shown the odiousness Of proposition to
unite, without control the purse and the sword
IN the hands Of the Executive, he would foreOo
that pleasure, and content himself with aslyi5c,
that the question on the naa-at7e of Al,s. lliii.
snoulo De taken by yeas and nays, as he desir.
ca 70 have his name recorded against Il at every
ordered. ''ss
Mr. BENTON argued that an the banks
nad wholly and forever incapacitated Them
selves IRON being used as repositories 81 tie
public money under the deposite act If Iese
whether that act should be repealed or mt