The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-07-10
From the Washington Correspondence of the Atlas

From the Washington Correspondence Of the Atlas
Saturday, June Both
In the Senate, Wright, agreoably TO the notice
which he gave last evening, introduced Bill to
modify the latter clause Of the 9th net of the Depos
tie Law Of 1886 This is the same thing the
first section Of Mr. Websers bill, except that it sus
ponds the five dollar note restriction I'll October
next and not longer.
Webster moved to amend the bill by adding sec
ond section suspending for the same period so much
more of the deposte act OF 1886 as prohibits those
banks from being selected repositories oil me
public money which, after the passage OF that act
should issue pay out notes of less denomination
than five dollars.
Wright then moved an amendment repeating Tia
deposite act of 1886, except the section relative to
depositc with the States of the surplus ana the
clnuse of the 9Th section above modified.
CLAW treated the proposition Of Mr. Wright as " a
|ffk Sub Treasury Prcject' For though II h'd MOI
but the money into The hands of Receivers General
il gave it to Receivers Special 1t absolved the
Treasury from all law, aud left the money IN the
hands of irresponsible individuals, who were sub
ect directly to The Executive,
| Tallmadge SAID the proposition, considering the
source from which it came as well as its object, was
The most extraordinary he ever heard of. The IL
mendment repealed an act which his colleague was
prominent in bringing forward, and winch was
adopted at the earnest instance OF the Executive,
after the removal Of the depostes from the Bank OF
the United States. Now, by repeaIing th.s law, The
Senator intends to remove all Executive resrunt,
and enable the President to do, what Congress had
refused to do,-to employ his own officers as depos-
tories. We have refused TO establish the sub
Treasury System, wiih all the restraints and checks
and guards that could be devised, and yet the SEN
ator presses a proposition to establish II SubIrcas
ury System, without any check or regulation what
ever. He said that the President aud his friends
having entered upon this quXoIIc experiment, had
determined to disregard public feeling ana opinion
and to continue the public money IN !he hands OF
gov eminent agents We we've told, indeed, from
one Of the organs of the administration, that The
system should be kept III operation I'LL ISL, not
wIthstdnding all the lamentations about 1t.
Rives SAID this was the bodest proposition ever
made in body protesting to acl under the guaran-
tees of free constitution. 1t was II proposition TO
absove the Executive from all j0o. We have mad
before indirect propositions 10 repeal the act OF 1886,
but they accompanied by other legal consti-
tutions and Restrictions. They proposed another
specific system, marking out the metes aud boun-
diaries of the Treasury department. But, here Is a
proposition To abSolVe the Executive from all law
IN regard to the custody ufthe revenue. The mean
ing of this is that, because Congress will NOT adopt
the Sub-Treasury Bill, they shall haze no TAO.
This different from the usual pru-
dent aud moderate habit of the Senator, that must
quarter. He repeated, that such proposition was
never made in amy deliberative body sitting under
limited and written constitution. All parties had
heretofore united in the opinion that the whole sub
iect Of the custody Of the public money should be
regulated by law. He invoked the consideration
of every protesting republican principles TO this
proposition substitute Executive discretion for
law. lie expressed his pleasure that one gentle
man, (Sevier) with the independence and good
sense Of his native region, had repudIated the prop
osition upon its tbreshhuld, though he was we'll
known TO BIO no friend To Banks. He called upon
gentlemen not to PROSTATE all the guarantees to con
suonal Liberty for the sake OF carrying out their
party obec s-tOr the sake of Legislative reCeage
upon the people for their unwllingness to receive
the Sub Treasury system
After some turter debate, Wright's amendment
lhStIuf nyE lrN Nahs n
peaing the first twelve sections of the Deposte act
Of 1886, was then 0greedtO, yeas 26, nays u
The bill amended, WAS then ordered to be en-
crossed.