The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-03-27

banks. This amendment having special reference
to the specie circular Of July, 1897, and intending to
repeal H.
An earnes discussion followed entlis amendment
BY Messrs RiyeS and Upton in svor Of H. and by
MeSsrs. Benton, Sewer, Roane, and Walker, in OF
position.
The amendment was lost, as follows:
YEAS Messrs Bayard, Clay, of Kentucky,
rick, Nicholas, Prcntiss, Preston, Rivcs, Robbins,
Ruggles, Smith, Of India, Souhard Spence, Swim,
Talmadgc, Upton, Webster, White-22
NAYs-Mess SIS. Allen, Benton, Brown, nueha-
Grundy, Hubbard, Linn, Lumpkin, Lyon, Morris,
Moulon Miles, Norvell, Pierce Roane, Robinson,
Sewer. smith, Of Conn, Strange, Trotter, Walker,
Wall, Williams, Wright Young-3o,
MIR. WEBSTER having made a few introductory
remarks, moved 10 amend the bill By requis,ion
that no distinction should be made or exist hereafter
between the different branches of the revenue as TO
the money or medium IN which the debts or dues Of
the Government should be paid or discharged.
Mr.. BENTON opposed this amendment at much
length and with great vehemence
Mr.. WEBSTER modified his amendment SO as to
prohibit the Secretary OF the Treasury from issuing
any general order las the specie circularl making
discrimination as 10 The funds or medium In which
debts to the U. States should be paid
Messrs. CALHOUN, WALL, and BENTON
spoke against the amendment as modified and
Messrs. WEBSTER, WALKER, and KING, in lis
favor
Mr.. BENTON moved to amend The amendment
BY requiring that there should not be any difference
between the times and terms Of credit aud OF payment
for customs and Of public lands.
MIR. YOUNG offered, as a substitute Tor this,
which MIR. BENTON accepted a proyiso that all the
public dues should be received in cash otherwise,
IN the same medium and manner as payments al The
time may be required for the public lands, (thus
placing the customs on the same footing with the
payments for the public lands, whatever that may
be)
This amendment, afcr brief debate, was lost as
YEAS essrs Benton Linn, Morris, Niles
Norvell, Pierce, Smith, Of Conn, Youngs.
.NAGS--Messrs. Allen, Bayard, Brown, Bucha-
nan, Calhoun, Clay, of Alabama, Clay, Of Ky,
Clayton, Crittenden, Cuthbert, Davis Fulton, Grun-
dy, Hubbard King, knight Lumpkn, Lyon, Nc
Kean, Merrick, Mouton Nicholas, Prentiss, Pres
ton, Rives, Roane, Robbins, Robinson, Ruggles, Sc
vier, Smith, of Indiana, Sonthard Spence, Strange
Swift, Tallmadge, Upton, Trotter, Walker, Wall,
Webster White, Williams, Wright-44
The question recurring on Mr.. WEBSTERS
amendment, forbidding discrimination in the kind
OF money or medium to be received in paying Go
veInment dues il decided in the affirmative by
the following vote:
YEAS-Messrs Bayard, Brown, Buchanan Clay,
Of Alabama, Clay, of Kentucky, Clayton, Critten-
den, Davis, Fulton, Grundy, King, Knight, Lyon,
Mexican, Merrick, Mouton, Nicholas, Norvell,
Pren,iSS, Preston, Rives Roane, Robbins Robinson,
Russles, Sewer, Smith, OF Indiana, sonthard,
Spence, swift, Tallmadge, Upton, Trotter, Walker,
Webster, White, Young-37
NAYS-Messrs. Allen, Benton, Calhoun Cuth-
BERT Hubbard, Linn, Lumpkn, Morris, Niles,
Pierce, Smith, Of Connecticut, Strange, Wall,
Wight.
The question being on ordering the bill to be en-
crossed for third reading,
Mr.. CALHOUN rose and spoke very earnestly
in opposition to the bill. He denounced il as bill
| to renew and cement the Union between the Banks
and the Government in its most odiouS form instead
of effecting separation Instead Of establishing an
Independent Treasury, the bill, he said would give
the banks a complete ascendancy over the govern
| ment and the Treasury. A more beneficial bill Tor
the banking system, as whole, could moi be devised
Suppose you lock up the Bank notes in your safes
and vaults, will not the Banks supply the vacuum
thereby made in bank circulation TheYwill, in
effect be enabled to discount as largely as ever on
your depositeS The bill revites the Deposite Bank
system in its worst form. Ii would, after the banks
resumed specie payment, carry the government back
exactly 10 the point where they were before the sus-
pension OF specie payments in May last; with this
exception, that the Executive would he prevented by
it from making any discrimination in the funds re-
ceivable for government dues In this respect the
bill was more favorable to the Banks than The Joint
Resolution of 1916. Was this be the end of all the
excitement and all the laborous discussions this
subject? A broader farce was never before enacted
Senators could not let the matter rest here The
people would not be content with such bin as This
He impored them TO reject IT, insisting that il would
be ten thousand times better To 90 nothing than to
pass it.. 1t would give the banks complete triumph
and be productive of infinite mischief The subject
| could not however rest here Gentlemen might be
assured as he had said before that there was strong
current Of opinion setting against the banking sys-
TEN; that il on its crutches here and in England
also, and must soon be overthrown.
| The bill was then ordered TO be cngrossed for
third reading, by the following vote. e........
YEAS-Messrs. Allen, Benton, Brown, Clay, of
Alabama Cuthbert, Fulton, Hubbard, King Linn,
Lumpkin, Lyon Morris, Mouton, Niles, Norvell,
Pierce, Roanc, Robinson Sewer, Smith, of Connec-
ticut Strange, Trotter, Walker, WALL Williams,
Wright Young-27.
NAYS-Messrs Bayard Buchanan, Calhoun,
Clay, of Kentucky Clayton, Crenden, Davis,
Grundy knight, Mexican, Merrck, Nicholas,
Prentss, Preston, Rives, Robbins, Ruggles, Smith,
of Indiana, Southard, Spence Swift, Tallmadge,
Upton, Webster White-25.
On motion of MIR. MORRIS the bill, as amended,
was ordered TO be printed.
The Senate then, after O'Clock,
Adjourned