Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-05-15
TncSday, Nay II, l-lO.
IN SENATE
| Of Mr.. TALLNADGE,

On motion OF Mr.. IAlLhADLE,
Resoirtd That the Committee Military Affairs be
instructed to inquire into the expcdency of making
grant of money or land to the State of New York to as
sst in the construction of railroad between the waters
Of Lakes Ontario and Champlain, and parallel with the
St Lawrence river. And, also, to ascertain now lar
the said road will facilitate the transportation OF the
mails public stores troops, and munitions OF war, and
how far il lsupcrscdc the necessity OF forts and other
military dci,uces along the st Lawrence frontier.
On motion Of Mr.. BENTON, it was
Rcs0lred That the COMMITTEE on the Library inquire
into the cxpedcncy OF appropratng 5000, to be rA'
pended under the direction Of the Secretaries oil war
and Navy for preserving and arranging for inspection
the mineral and geological specimens IN their Depart
ments. .,
The Senate proceeded to consider the bill TO esta-
hlish uniform system of bankruptcy throughout the
States.
The question being prospectvely substitute, mo-
we'd nj the conclusion of his remarks by Mr. WALL for
the original bill,
Mr. Wall, in sustaining his substitute, insisted that
the original bill from the committee was partial, uhcoh-
stitutlonal contrary the wSse Of petitioners and OF
the country solemn mockcry to bankrupts and could
not under any circumstances, be sanctioned by ma
orv Of either House o.! Congress. lie rcctted hiSto-
nv Of the origin and progress g" the iaw OF bankruptcy
particularly with view To show that Ms operation was
USUALLY confined to traders, but the legislative power
used It's discretion to declare vino should be considered
|
substitute urging, collacraly the proprIey expedIcn
Cyl and impartaltty of its provisions tie especially
argued favor Of extending the operation OF the law to
State corporations and to States themselves, so tar as
connected with such corporations.
| Mr.. CLAYTON having aCqnIesced III some OF Inc
provisions and principles of the substitute, directed his
opposition only 10 that part oft which extended to cor
poraons. lie argued that il evidently ono "t the
numerous measures heretofore attempted, tor the pr
pose either of oycrrulin4r. -1rong, and VSng the
|
ing and DESTROYING them, and that the bull might be
made powerful means Of ciecng or the other
of these objects Banks, he insisted, were the crea
lures of the States, with which Congress had right
in any way to interfere; nor was interference cxpedlen
for, if once begun, there could be nothing to prevent
its progress, TO the destruction OF those lnstu
tons He proceeded TO show the present and past LA
bty of almost every bank in the country to have this
very substitute brought against them, inevitable
means either of their destruction OF creating almost
universal distress by forcing the sudden payment OF
debts, not only to the banks but to all individuals
whose business might be more or less remotely con.
nccted with such debts to the banks He insisted thai
the community at large desired such interference OF
Congress IN their behalf and would not thank them
for it.
| MIR c. commented on apparent Inconsistency in
the BILL by first extending It's operations to all persons
in the United States and afterwards limiting It's opera
ton to traders alone, which difficulty was to be got
over BY every person declaring himself trader. He
characterized the substitute SYSTEM not OF unor
mty but variety, and declared that there only
contingency in which it could possibly become uni
FORM which was, that, the substitute in effect prov
dcd for its repeal by any Of the States, It's repeal by all
the States would make il uniform.
| Mr. CRl'TTENDEN having indicated his design to
speak 10 morrow,
The Senate after an Executive session, adjourned.
! WAsnI>Groy, May Pin the House OF Rcprcsen-
tatYcS to-day, the bill to prevent frauds the revenue
takcE mp, and the amendments of the Committee
tie SAT" "i the Union were concurred in After
some remarks by Mr. Holmes, in opposition to the bill
ii finally passed. yeas and nays, BY vote of ~
10 30 After which, at early hour, the House adj
journcd TO enable the members 10 accompany the Select
Committee the subject of Steam Explosions on an
excursion down the Potomac, to witness the practical
application of Raubs safety valve the boilers Of the
steamer Columbia -GioJe
In the Senate proceedings of yesterday will be found
startling exposition OF the practices TO which the M
ted States Bank has been compelled resort in order
TO get ITS notes into circulation BY abstractng the
hard money from this country, and sending it To
Europe to pay its foreign creditors, tries to keep up
appearance of solvency hoping thereby to be
BLEED to prolong lis existence until fortunate turn OF
affairs may bring the party, of which has been po
tent an auxiliary, into power, in which
device of the great "crcd system would undoubtedly
be rcsor,ed to, TO fill the Of the exhausted pa
per bubbc.-B.