The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1840-03-10
g % N G. ke E = =.
Correspondence of the Boston .4tlas.

Washngton City, Feb. 26, lS4O.
In the SsRate, Mr. Buchanan Of Pa, present.
ed one ofsfis pet projects resolution proposing
to raiseSa Spwial Committee to consider the ex-
Federal Constitution, to the severel States, pro
hibitingfhs issuing of bank notes, ola less de
than 20 dollars. He sustained the
resoiutieR &; neat and very pleasant speech, in
his coy and agreeable sy'..ee.
Mr Webster replied very briefly. He con-
tended that the.proposed amendment 10 the Con.
stitution was &Xnecessary rs the General Gov
ernment alseady possessed full power over the
currency Of k%country land an attempt to pro'
cure syeIl On amendment at the present time,
woulJ1@not only hopeless enterprise, but
wopfl Prove ycidedly injurious To the interests
of Die cou6try.
;Mr Buchanan said he should persist in urging
f1Ss measneupon the attention of Congress, g.
upon the country, as long held seat in the
Senatc%He had looked at this subject very care
fully for several years, and he could not conceive
any other method Of Kidding the country of the
into lerable nuisance of small notes, than by any
amendment to the federal constitution.
Mr Strange Of N. c., a Iocofoco, said he was
opposed 10 The proposition, although he was ~
war9 that.i<'Was a party measure. because he
thoYghtit was a hazardous period TO put forward
thjsGucstion TO the people. The administration
was going on bravely with the great work of
destroying banks and credit; the important bat.
tein which their fate was to be decided, was
at haSsdss AtAe tide of events was flowing on,
srs6othly and happily, and he desired not to in
terupt this promising condition of party affairs.
He wanted TO see the banks destroyed-he wan
ed all sorts of shin plasersswept out Of existence
but he thought it was best 10 look out for the
e. ectiohSof 1840 first and when the sceptre OF
power. Shoud' he firmly secured, then to attack
these minor monsters, and to put them to spec
,Ay death.
In the Senate the Assumption of the State
Debts by the General Government (Which, by
the way no laBiy has asked for) has been the
principal topic of discussion. Mr. Phelps, of VT
delivered aRgBole speech upon the subject and
at our last advices Mr. Talmadge of New York
had the floor.
Sv the Hottie the New Jersey election has
been the principal subject OF discussion. After
fiys'or six Mys talking, the following resolution
OF Friday last, was adopted
.sResolved, That the Committee on Elections be
fnsaslcted TO report to this House such papers,
and such of their proceedings as they may de-
sire 10 have printed by the order of the House,
andbe instructed also forthwith which five OF
etten individuals claiming seats from the
State. Of New Jersey, received the greatest mum =
Der of slaivfa4evotes from the whole State for
Representative s in the Congress of the U. >. at
the election 0GT93S in snid state, with all The ev-
idence ot,tfiaf fact in their possession:
=. Provided, That nothing herein contained shall
We so construsG$as prevent or delay the action
of said .eashnittee in taking testimony, and de
Gliding the ssid case on the merits of the elect
ton.
The 9sesshr1'SSA having been taken on inserting
the word 'la,efilN before Votes in the above res.
olution, it stood Ayes 96, nays 90. The Speak
err voted in the affirmative.
In the Senate, Mr. Webster introduced bill
for general Bankrupt Law, which. was appro'
we'd by senators Of both political parties. The
substance of Mr. Webser's plan is, that it should
beapplicable to all insolven. persons, so that
both debtor and creditor can avail themselves OF
its provisions the former 10 discharge himself
from debt upon faithful application of all his
property, and the latter to compel such nppGa,
iion-that any fraud or connivance IN optan'hg
The discharge, should render it void-that all
creditors proving their debts against the insol-
vent, shall share pre- rata in his property; debts
to the United Staes only having preference
over all others, that debts falling due at a future
day may be proved with others reserv'ng pro,
per discount-that any person proceeded against
as bankrupt by hif creditors,shall be entitled 10
a trial by jury-and that no person shall receive
a discharge under the act. who 1t shall be prov
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