The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-07-09

:, n ~. p D. - amended on the motion OF MT
De, AIN and Mr. Cooper, being under eonsne,a''o
ami he question being on Ordering " 70 ''a
mo and The Prerious Queshe" having '''i
M, (,IJSHING asked TO be excused ron No''ng
. ~ ones,ion and was proceeding TO assign ms
reasons ,; 49,. ,,;sed by
Mr. yanderpoel and others whe'hef m'
order in his remarks ~, Nm, - recess
And, before deciding thereon, the hour 81 i'''s'
arrived
EVENING SESSION.
The House resumed the consideration OF me oe'
nate bill extending the charters OF the Distfet DAMP
Mr. CUSHING having the floor to assign ms
reasons for asking to be excused from 'ot'ns on w
question ..,on ~ orjer
"a m. Chair decided that Mr. Gushing was trans
cona;no The spirit of the rule and was not ~ order
Ai,er some conversation, in which Mr. BolI
Mr. NAYLOR, and others took part,
Mr.. CUSHING sad that, as the House eoul no'
vote understandngly upon the question OF ms being
ycnsed without hearing his reasons he should WIN
draw his request and take the liberty to refuse 10 vote
on the main question: when eaeu ,,,, he
further given, were
Because 10 vote in the negatire would be 10 cu'
OF at once the corporate existence o. me oahhs - -"
District of Columbia and deprive the holders o.
The hills Of said banks, and the holders OF demands
against the same Of legal recourse for the recovery %
payment thereof and the banks themselves oi i.Sai
recourse for the recovery OF debts due TO tnei "en
would in his judgment, be an unjust anu ,ne'eoie'
unconstitutional exercise of the powers OF Congress
And because 10 vote in the affirmative, would De-
in effect 10 recognise and admit certain OF the motives
of the amended bill Indicated by me depa'e here
ON which motives are inconsistent with the following
principles heretofore in substance or spirit ahfeu
by the House of Representatives VIZ
he
pisation in all whatsoever over the Dislrcl OF
Columbia Congress does not possess an arbitrary dis
rcon 10 be used without any restriction OF reference
10 the interests OF said District the laws and IN.
sttutons of the contiguous States OF Virginia ana
MARYLAND
, That this Government is Government OF limit
ed powers and that by the Constitution OF the
United States, Congress has no jurisdiction whatever
over the institutions of the several States OF the Con
ederacy.
3 That provisions for the abolition undue re-
striction OF banks in the District Of Columbia are
mart of plan of operation set foot to affect the IN
stitution Of banking in the several States and thus
indirectly destroy that institution within Their hints
A That Congress has right TO do that indirectly
which il cannot do directly and that the agitation OF
the subject of banking in the District of Columbia, as
a means and with the view Of disturbing or over
throwing that institution in the several States Is
against the true spirit and meaning of the Consttu
ton infringement of the rights of the States at
fected and breach of the public faith on which they
entered into this Confederacy.
s. That therefore, all attempts on the part Of Con
gress TO abolish, tending to abolish the banks IN
the District of Columbia, with the view aforesaid are
in violation Of the Constitution, destructive 10 the
fundamental principle which the Union of these
States rests and beyond the jurisdiction OF Congress
After the recess the House met and the pending
question being whether Mr. Gushing was not
in order in the remarks he had made just before the
recess
Mr.. CLIFFORD insisted that the Chair should
pronounce its decision.
The CHAIR, occupied temporarily by Mr.. Briggs
after some conversation, decided Mr. Gushing to have
been out of order.
Whereupon Mr. CLIFFORD objected to Mr.
Cushings proceeding withou, leave OF the House
Mr.. CUSHING took appeal but after good
deal of desutory conversation consented to withdraw
his appeal and to iorego his intention of proceeding
further in his remarks.
The question then recurring on the engrossment OF
the bill and amendments for third reading, was de-
cided by yeas and nays follows Yeas 60, nays 90
So the bill rejected.
Mr.. w. C. JOHNSON asked leave to introduce
bill from the Committee for the District to continue
the corporate existence of the banks in the District of
Columbia
Mr.. THOMPSON, of Mississippi, objected
Mr.. JOHNSON moved for the suspension OF the
rules, and demanded the yeas and nays
Mr.. klein moved to lay this motion on the table /
but after withdrew the motion.
The question then recurring on suspending The rules
it decided by yeas and nays as follows Yeas "a,
nays Sc.
There not being two-thirds the rules were not sus-
pended
Mr.. HOLLEMAN wished to NAKED statement
Mr. PROFIT objected
Mr. HOLLEMAN moved to suspend the rules to
introduce new bill extending the charter Of the
banks for two years, for the sole purpose of wind
ing up their affairs and restricting the banks from
doing any thing else,
The question being put the yeas and nays stood al
follows Yeas 1856, nays Is
So the rules suspended
Mr. HOLLEMAN having slightly modified his
BILL it was read the first time
Mr.. ADAMS inquired whether il made dis
tincton in favor Of the Patriotic Bank which never
had suspended specie payments
Mr.. HOLLEMAN replied that did not
Mr.. UNDERWOOD gave notice of his intention
to offer the following amendment in the bill Of
Mr. Holleman should not meet with favor;
That the several acts of Congress creating and
granting charters to the several banks in the District
of Columbia which were in force on the LIST day OF
July 1910, be- and the same are hereby continued in
full force for the term of two from and after the
4th day of July, 1910: "Prorided honerer That no
one Of the existing banks shall declare make any
dividend Of its profits among its stockholders during
the time It fails to pay specie for It's notes And pro
rided further, That all the profits hereafter made
by any of the said banks and above six per
cent. upon its capital clear of expenses shall be paid
the corporate authorities of the city in which
such bank is located And propided, further, That
said banks shall severay resume the payment of spe-
Gle for their notes thrown into circulation within ninety
days from the said 4th day of July, 1910"
Mr.. MCKAY proposed another scheme the par
culars of which did reach the Of the Reporter
Its general outline to continue the corporate exist
ence of the banks the first of January next, they
not to exceed THEN present amount Of discounts pre-
vious TO that time and after then TO make no new
nd tart IN nh af March N,
Mr.. THOMAS suggested sundry objections to Mr..
Iloemans bill and suggested the adoption OF a bill
exactly similar to that under which the affairs Of the
Union Bank of Georgetown, were wound up.
Mr.. HOLLEMAN, after brief reply, moved the
previous question.
The call seconded 50 to 81 put and carried
And the question being the second reading of the
hill