The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1838-07-14
Our neighbor, the Register, rejoices over


what he very innocently denominates, a
q" defeat of the latest and last effort of the
most extravagant and heartless admiuistra-
ton" to repeal the deposit act of 1885,
y What consistent set of fellows these
wings are; F.; you can moi please them the best
way you can fix it. When the act referred
to was passed, the whole elan of the oppo-
stion from one end of the Union to the 9TH
er, denounced it, as the sure presage Of the
total destruction Of orr liberties, by concen-
trating the power of the sword and the
purse in the hands of one man but.
now, when a repeal is proposed, al
though at their suggestion, the same heart
less cry is again raised. No matter what
measures are proposed by the friends Of the
administration for the safe keeping of the
public money, if they do not include a u
nited States bank in its arrangement, even
if they have heretofore been advocated by
the wings themselves, they are opposed
tooth and nail, as destructive to the best in
terests of the country.
But what are the facts in relation to this
terrible defeat and overthrow OF the " heart
less administration over which he reioices
so Justify? They are these. Mr.. Wright
introduced into the Senate bill so far to
modify single clause Of the deposite law
of 1896 as to admit the receipt, in the pay
ment of dues to the Government, of the
notes of those state banks. which have,
since the 4th of July, 1896, issued notes of
denominations less than 85 provided the
the banks shall cease to issue, reissue, or
paw out such small notes after the ilst of
October next This occasion was seized
upon by Mr.. Webster 70 make another eff
fort, by way of amendment to the bill of
MIR. Wright, to legislate again into life and
action this broken down and exploded bank
deposite system. 1t was admitted on both
/ sides, that all the banks of all the states
could no longer enjoy the free and profta-
BILE use of the public money, because they
had, by their own voluntary action, dis
qualified themselves from being deposlte
banks, and had rendered it impossible for
the Secretary of the Treasury to select
them under, the law; and during the discus
sion, Mr.. Webster said, tlat if the Repub-
licans did not wish to have the law remain
in force, they should propose its repeal, and
that, if any one desired to offer such pro-
position, he would withdraw his amend
ment to afford tie opportunity. Upon
which Mr. Wright met the paper money
advocate on his own ground, AMI proposed
to insert clause TO repeal the whole twelve
frs. sections of the deposi!e law, except
single clause which the bill proposed to
modify in the manner stated above. But
no sooner was the issue thus made, at the
request of their leader, than the whole op-
position pounced upon it with the greatest
fury. The republican Phalany, Of the Sen
ate, however, stood firm, and passed the re-
pealing clause by majority of five, and 1t
was sent to the house. The drst vote taxi
en- upon tin the house, was upon herepeal-
ing section, which, by the entire opposition,
I strengthened by several friends of an lnde-
pendent Treasury, was stricken from the
bill by majority Of nineteen. Then came
the efforts to supply its place by some pro-
vision which should re-enact, and put again
/. into operation, the deposito law Of 1886, and
a Mr.. Cnrtiss, ,,ofNew York, was earliest on
the floor with. the amendment of Mr.. Web
ster, when a republican member proposed
as an amendment to the amendment, pro-
Viso, declaring that the banks which should
be entrusted with the keeping of the public
money, should not be used for the purpose
of banking. Tins last proposition was
by vote of the house, inserted and made a
part of the amendment of Mr., Curtiss, upon
which no vote had been taken. This flung
the bankites into the greatest CONSERVATION,
and an adjournment was Immediately NOV