Southern Argus., 1839-03-12
c0NrRESSI0NAL..


CONGRESSIONAL.
MONDAY. Feb. 16.
In the Senate, Mr.. Cuthbert, who was
entitled to the floor, being indisposed, the
special order of the day was not taken up.
But most interesting debate took place
upon Mr.. virgins bill 10 osecure the pub.
lie money in the hands of the officers Of
the Government, and punish public de-
faulters, 10 which Aiessrs. Rives, Wright.
Webster, Calhoun. Tallmadgs and Clay
took part. We extract passages from the
briefly reported speech Of each
Mr.. Rives proposed substitute for
Mr.. Wright's whole bill. He proposes
that wherever the payments are made, the
same shall be deposited in Banks to the
credit of the Disbursing Officer aud
shall be drawn for by checks bearing on
their face the purpose for which the draft
is made.
He believed sincerely and confidently
that as regards both these objects and prin-
clip es the measures would meet the wish
es Of the country.
Mr.. Riyes said further thit the expe-
rience of his own State furnished the most
important lessons in favor Of the meas
ures he proposed.
Before the introduction of Banks into
Virginia, several defaults were committed
by the State Treasurers-all of whom
before these defalcations were discovered
were regarded as men Of high character.
When Banks were introduced the States
money was deposited in them-but subject
is the private check Of the Treasurer.
without a counter check. Under this
system defalcations occurred. Men Of
the highest responsibility committed them,
and one, who bore so fair and honorable
a reputation that when his appointment
was spoken OF, it was said there was 20
need te require security from such a man,
was not able to resist tine temptation. -he
was defaulter-and in the agony of feel
ing excited thereby, put an end 70 his ex-
istence.
Mr. Wright, after some preliminary
explanations concerning the provisions Of
his own bill, declared himself to be utter
ly opposed to the substitute of Mr.. Rives.
as calculated to make a closer zconnec-
ton between the hanks and tae govern
menl than has ever yet existed, constitl.
ting as it did in bis opinion those banks
the collectors, custodians and disburseIs ol
the public money.
Mr.. Calhoun then rose, and IN his short
sharp sententious style, declared that if
there was TO be any connection between
the government and the banks the safest
plan was undoubtedly to authorize them
TO receive the public money, keep It, and
pay it away
MT. Webster maintained that, as to the
checks proposed, every thing was already
provided for in substance BY existing re.
gulations; and he went into number 81
i details showing clearly that if existing re-
gulations were complied with, there could
be no difficulty ii the Secteiary's asccr.
tanning here what has been done in all
tho custom houses and land Offices 10 eve
.ry quarter Of the Union.
As matters now stand, the government
runs two risks instead Of one hazard
Of the defaultof the government and Of.
ficeEs aud a hazard Of the failure ofthe
4 Bank and notwithstanding ali that has
been said about divorce, ii IS d truth thai
/ if the banks should fail to.morrow, tie
government would also be obliged t0 sus.
pend If We donot go 10 the excluslye
specie system, We must be connected with
lthc Banks
The question was then taken On Tie
4 adoption Of Mr. Rive's substitute. ana
decided IA the neeafipe aves IS. nats