Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-05-17

70 renew that motion. lie moved that the message
and documents be referred TO a committed of the
Whole on the state OF the Union, aud printed.
Mr.. UNDERWOOD, who had The floor from
MONDAY, said he was very wiling That the speech he
: had intended to make SHOULD be indefinitely nostpon-
81, If the House would agree, with it, 10 postpone
indefinitely Mc aiole subject of the duel report and
he was about himself TO make a motion to that ef-
feet.
Mr.. SERGEANT suggested that. as il was proba-
bic the message and documents would be printed by
Tomorrow, il would be better TO postpone the con
sideration of II til tomorrow.
Mr.. CAMBREEENG replied that, as 10 the time
Of commencing proceedings on The subject OF dis
message, thew could not be commenced a moment
too soon. Were there the slightest probability
that the House would fsally dispose OF the question
81 privilege this day, the suggestion OF the tonnra-
bic gen,lemaR from Pennsylvania woaldhave weight,
but, as le could not Indulge Il hope OF this, he
thought the subjec, oi the message might as well be
taken up al once. The general state of the 6nan-
ces of The country had been, from time 10 time,
laid before the House. No gentleman could be ig-
aorant OF it.
The gentleman from Kentucky Mr.. UNprRwoon)
was not. probably, aware what would be the effect
Of his prof. osed motion iot an indeirite postpone
meut OF the subject ut present before the House. 1t
would not bring the House 10 an immediate de-
sision but would, on The contrary, open the whole
subj-ci.
1.-THE question was in The mean while pnt on re-
ferr,ns the message aud papers TO a Committee OF
the Whole on the state Of the Union, and printing,
aud agreed TO-
Mr. CAnRRELES6, expressing his hope that The
Hsuse would dispose OF TIE subject this day, with.
drew his resolution 10 suspend the rules aud the
House went On TO further consider the reports from
tho select eommiuee on duelliug, &c.
The debate on this suhioc was resumed, and
sonunued BY MeSsfs. UNDERWOOD. MERCER,
REED, and THOMAS, who concluded his REMARKS
with a motion 10 lay the whole subject IN the table.
and PRINT the reports, evidence, and journal oil the
e0mmittee.
Mr.. JENIFER demanded a division oGthc qucs-
tioa.
Mr.. THOMAS asked for the yeas and nays. Or
dtred.
The first division Of the n otion of Mr.. TueM,s
Ito Ia, on the table, was then decided IN The allIma-
tire by The following yote-Ycas l0e, nays -.
Mr.. BRIGGS asked that he motion 10 print be
divided aud the fast question WAS on the printing
oi the three reports OF tie committee: shich"as de
eided in he affirmative by the following yote-Ae as
123, nays -.
The question was lhcu taken ufon printing the
evidence aud journal, and decided IN the affirmative
BY the following votc-l cas- le9, uaysd
The House adjourned.
FhIpAr, MAY II, 1859.
Ate, despalching the morning business
MIR. Cambrelerg moved that the House 90 into
committee of the Whole ON the state OF the Unlon
which was agreed to, and lie House accordingly weut
into committee, Mr.1ugham IN the chan.
TREASURY NOTES.
On motion OF Nh. Cambrcleng, the committee took
MP the following ball:
A BILL Ia carry INTO effect an act approved the
twelfth day OF October. eighteen hundred and
,hirty, seven, Ito authorize the issuing otIreasuly
notes"
Re- If enacted by Senate and House Of Repre-
ssutatiyes of the [. :. Of America ia Congress as
rcmbicd, That the Secretary of the Treasury, with
the approhatlon of tle President OF The L. :. Is
hereby authoizcd To cause Treasury notes tote lsSu-
ed, according to the provisions OF an act entitled
An act 10 authorize the issuirg oil Treasury nolcs, :
approved The twelfth day Of October last, IN place Of
sueA notes as have ttcn, OF may be ISSUED underline
~xutholity OF The act aforesaid, aud Which have been,
or may hereafter be PAID into the Treasury and can
tclled.
Mr.. CANBRELENG, spoke at length in expla-
pation Of the condition OF the Treasury, aud IN sup
rort of the bill.
Nh. CUSHING, alter some predatory remarks,
wen, on to comment upon the remark that the pre-
sent bill was simple. lie saldit was simple, and that
was an objectionable Tea IRE. Some things, IN ap.
pearance simple, were found in then operation
10 be exceeding complex. Tie Secretary Of the
Treasury was to be authorized to issue ten millions
of Treasury notes, aud lac could NOT understand under
what limitations or restrictions. lie wished the bin
to be explicit and guarded that he might be able to
understand The limits Of the Treasury. He conten-
dcd that the measure proposed had always been
considered VI a doubtful and dangerous character by
all the friends of democratic Institutions, and that
Madison aud others lad always been opposed 10
Issues ofGoyernIRcni paper, founded not on funds OF
specie, but upon faith OF credit, and only consented 10
itsexpediency in remarkable eNigencies. lie corsid-
cred the notes would be currency, as much rs hanh
notes. They would be issued to pass from hand To
hand, in the payment Of debts. aud would in effect,
be money. aud would enter into the system If cX-
changes. Bat he objected to such issues, because
they would always tend 10 deprecia,c. Experience
had shown that whatever interest they might bear,
whether one mill OF six per cent. they would not be
above the value OF the notes of good banks. These
notes would be useful in the payment of duties; aud
SO were notes oil specie paying banks, which would
be equally as valuable. The interest, he coutrndcd,
sould not enhance lheit value. lie had also doubts
whether the Government had the constitutional
right TO issue bills OF credit; for he maintained that
these Treasury notes were bills of cred5t.-They
were not a loan, but only an issue Of paper, founded on
nothing but the faith and credit of the GoveIome nt.
against which the constitutional objection holds
good.
Mr.. THOMPSON Of South Carolina, spoke al
length in relation to the unconstitutionalty and IN
expediency ofthc measure, which lie considered OF
an infinitely prejudicial and injurious tendency
He explained The nature of bills Of credit, aud con.
tended that these Lotcs we've bills OF credit aud
that, if they were in conformity with the Consti-
tuition, every State Government might issue similar
notes. He minated a proposition, which he sand
he should not move, but if II could be done by The
friends Of the Administration, he would pledge him
self and many OF his friends to vote Tor it that was,
if the Government was suffering from pecuniary EN-
ba~rrassment, 10 make Il loan, directly and properly
in England OF Germany. NJ IT could not be done 10 TINS
country, in the notes OF specie paying banks anl
he went at length into a consideration OF many com
mercial and financial subjects.