Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1838-07-11
Correspondence Of the Baltimore Patriot
ANOTHER SUE. TREASURY BILL RE-
JECTED.
wAsHlNaroN

WrlgDt ana his LOcO-T Oco dosoeio'S't
their bill, with the section struck out
that proposed to abrogate all law, and
give over the public treasure to the
custody of the Executive. thus have
the Peoples representatives, again, IN
the most unequivocal manner, declared
their determination to have nothing TO
do with the Sub Treasury System, in
any shape or form.
This bill was announced yesterday
by the Speaker, among the bills from
the Senate. II was read twice, as is
customary, and instantly half dozen
members started up. CambreIeng OBJ
tanned the floor, and said he would not
propose n reference Of the bill to the
committee Of Ways and Means; be-
cause, though no would wish to add
some provisions, there was now no time
for discussion. The provisions, he
continued, are simple, and the object
so beneficial, that he thought no rea-
sonable objection could be taken 10 the
question in any quarter
The honorable Chancellor OF the
Exchequer was here interrupted by
hearty and general chorus Of loud
laughter, expressive of the Houses en-
joyment OF his rare impudence.
He grew indignant at SO sudden an
explosion of mlrth, and declared with
heat, that gentlemen might laugh; but
10 they had been laughing Tor ten
months at bill which not more than
one in ten among them had ever read |!
This ebulIition had an effect, exact.
ly tho opposite Of a sedative. The
laughter was still more cordial and per-
vadng. When It ceased, Cambreleng
was heard contending that the section
proposed to be repealed, prohibited a
ny Of the banks from being used as de-
postories and that the inhibition was
perpetual on the Secretary. Moreover
the Sub-Treaslry scheme was estab.
lished by tho deposite act, because 1t
placed the public money directly in the
hands Of the Secretary.
Yet, in the same breath in which he
made those statements, he declared the
deposte act was a nullity and had re-
pealed itself.
He finally capped the climax of his
bold and absurd assertions, by saying |
that the Sub Treasury was the strong
est measure before the country.
Mr. Menifee commented with remar-
kable spirit and force on this extraor-
binary speech of the Executive organ
in the House. The mistakes of Cam
breleng respecting financial laws, were
as conspicuous as his mistakes a
bout the finances Of the country. If,
said he, the deposite act operates as a
perpetual prohibition against the EN-
ployment Of banks, that have suspend.
ed specie payments, why do you wish
10 repeal it!
If it be nullity why repeal 1t? In
that case i. should be effectualy ex-
without consuming our pre-.
cious TINA on further action. But,
Mr.. Menifee argued, that such a state
ment was an utter perversion of the
fact; and he quoted from the late re-
por, Of MIR. Wright in answer to Mr..
Webster's resolution Of inquiry, TO |
show that the chairman Of the Senates
committee on Finance, had come to
conclusions exactly the reverse oil hr.
Cambrcleng's; and had set forth that
i, was in the competency of the Sec.
rotary, to employ certain banks IA de-
posltories. THIS opinion, MIR. Wright
expressed after n careful survey of the
whole act, and, (added Mr.. Menifee,
turning directly to Cambreleng,) how
much soever your opinion may trans
cend your fnaucial brothers in the 9TH
er House, it must be admitted you are
at issue. There is u split in the Camp
OF Israel.
Mr.. Menifce then exposed in lucid
and efiectual manner, the effects of re-
pealng the act, in placing the whole
treasure OF the country at the discretion
of the Executive in the custody OF per-
sons who would be his instruments and
agents-and not officers Of the law
and denounced the presentation of the
measure, after such an unequivccal ex-
preston Of opinion, as a nugrant insult
TO the House.
Mr.. Legare Of South Carolina, op.
posed the bill in short, rapid, and en-.
ergeuc speech. Here, he said, you
propose to sacrifice in an instant, your
whole financial system-wlthout de-
without deliberation--without
examination-snd under the pressure
of the previous question (Cushman the
Headsman had tried several times to
get the floor, for the purpose of apply.
ing his axe.)
1t was SO great an innovation, con.
tinued Mr.. Legare, that one of my
colleagues in the other branch of Con-
gress, blenched before it, he allued to
Mr.. CalhounA-that gentleman Oppo-