Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1840-06-18
Correspondence Of the Charleston COuriir.
MAsuISGroS. JuNEo.

NH llIpoiidut tuoNelllcnt mas Dcen maue
in the Senate, on The subject ofthe bank
rupt law. Indications are very strong
That The southern administration Senators
will generally oppose the lsh section of
MIR. Walls bill. by which the banks are IN
cludcd. Mr.. Calhoun expressed wish
10 speak OIL The subject Of this amendment,
which hesaid was vital to the bill, and the
hour being late, the Senate adjourned.-
He will speak to-day. 1t is certain that
several olher southern administration Sen
ators have determined upon that course.
They are unwilling 10 give New York, the
great financial aud commercial advan-
la.es which will result to her from the
prostralion of the southern banks. The
New Workers, without party distinctions,
are in favor o(including the banks, bcliev-
lug that they can stand the shock.
In the Ho.se. Mr.. Waddy Thompson
moved thar the bill reported from The COM
miIiee on military affairs, for raising an
additional. force Of sixteen hundred men
for the prutectionol Florida be taken up,
and h. submitted sundry' communications
from the Secretary ofWar, showing that
The Indians were in greater force, and more
mischievous than ever. Mr.. Atberton
urged the necessity of tlisposins dflhe sub
treasury bill, before any other business
was taken up. Mr.. Coles informed the
House that there would be opposition 10
to the bill referred to by Mr.. Thompson,
aud that it would moi pass without much
debate. The moIiun was los, as itrequir
cd two thirds.
As therules were, it would require
vote Of orlwo-lhirtls, on Mondays, Fridays
and Saturdays, TO take up the Sub-Trcasu
ry. The committee ofways and means
and the majority of Tie House, favorable
to the passage Of the Sub Treasury bill.
were determined TO push it through, If
possible, .helhre any other business was at.
tended to. The Wings, on The other hand
were equally resolule in preventing 1t.
In The evening session, at O'clock. The
states were called for resolutions, and Mr..
Smith of Me-, who first got Illc floor, offer
cd Mir. Atherton's resolution To changerthc
the rule 1t so happens that, This being
resolution day. the motioncou! Ibe made
without the assent ollwo. thirds. IL it was
not adopted lwould go over for fortnight.
Mr.. Smith accompanied his motion by
demand for the previnus question. Tre-
mendous excitemenLfollnwed. The Wings
denounced lhe procedure as unfair, un-
parliamentary, destructive Of the rights Of
ibe minority, &c. BeGnre the sitting was
over, so high was the excitement that all
order anl decorum were losl, and The au-
tIiority ofthe Speaker was utterly disre.
garled. The lie passed back AMI forth,
between members, on several occasions,
and Everything like decencv Of behaviour
was outraged. The House was very near
breaking up in confusion, and would have
been, ifhlows had been struck, which, al
one lime, seemed inevitable.
The resolution passcd-yeas Il9, mays
81.
June 3.
Mr.. Calhoun spoke about an hour, yes
rerday, OH The subject orlhe Bankrupt bill.
He did mol profcss'io 90 fully into the sub
jert, which, he said, embraced great va
riety oilopics, and he minated thai he
might have am6ther opporuni'ylo treat Ike
question more Ill large. But he very dis
tincty defined his position in regard TO the
matter. lie opposed the bill, as reported
from the committee, as unconstitutional,
because it was nothing but an insoIvcnt
law. lie pointed out The difference be-
tween ru insoIvenl and bankrupt law
the former heing intended to relieve deb.
tors, and The latter to regulate Trade. lie
would nol vote for mere nsoEvent lew,
such aslhe voluntary bill proposed.
Bul opposed as he was 10 The bill, he
was still more hostile 10 The substitute of
Mr.. Wall, that embraced what was called
the voluntary system, and was liable, on
that account, 10 the same objection which
hc urged against the bill. 1t also, embra-
ccd what was'leuolninale'l The compulsory
system, Which in his opinion, was the on
ly constitutional feature in The scIleme.-
But his compulsory process, which for
med bankrupt law,in the meaning Of
the constitution, was too oppressive and
tyrannicial for adoption in This country
1t had once been tried by the law of 1900,
"IlCU W dS lllblitC'i w HNC ycdTSf uul dDdu-
doned after an experiment of two years.
Under this provision, any trader, owing
debt of 500 dollars would lie liable 10 have
his business arrested. his properly put
in commission, aud sacrificed. He would
be crushed. at once, whereas, il allowed
time, he would he able to work through,
successfully aud honoFaby. The fuctua-
tions oflhe currency to which we are ex-
posed, from our banking system, rendered
such a law peculiarly unsuitable to this
country. BY sudden contraction Of the
currency. person with ample means is
unable to meet his debts. He might, al
Ter while, pay all, and have large
surplus, hut this law ruins and DESTROYS
him at once. There would be muck more
propriely in granting stay law for his
relief, than in thus interposing to hasten
aud complete his ruin. He did moi believe
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