The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-05-14

tute Of Mr. Wall gives the States the power 70 give
variety Of operation the bill in the different States
Of the Union. The Legislatures may, in charssing
banks, or corporations, make Of thsm subjsc 70
the hill and another not 70. What uniformity would
there be hsrcl A uniformity Of variety and Of diff
ferenccs
MIR Crittsnden then dwch with great force and
effect on the nexpediency Of subjcctng the corporate
institutions Of the States 10 the operation Of the Fedc
raj Government III system Of bankruptcy and he
depicted the mischief sthat would result from any al
tempt of this kind in strain Of earnest and mpas
stoned eloqucnce.
But, apart from the inexpediency, he commended
that this Government had no power, under the
stuon To interfere with the State banks and corpo
rations, and TO put them down The States created
these institutions; and other power could right
fully control, regulate, destroy them If were
but admitted, that the Government had right
to compel them under act Of bankruptcy, how long
might il be before OF the advocates Of an exclu
sive specie currency would propose to require certain
amount Of gold and silver be kept in the vaults Of
bank, and make the absence of that sum a virtual
cause of bankruptcy The power could not be con-
coded for moment, without destroying the rights of
the States
Are gentlemen Che askcd) ready to give up in the
Of Bankrup System, all the banks and inst
tutons Of their constituents to the tender merces Of
the Federal Government TO allow the General Ad-
minisraon to hunt, the lion hunts, and take to L.
self all the spol3 Will the States stand quietly by
and their millions given to assignee to be sold
Will they not resent and repel such attempt as an
III. IA.
Mr. Crittenden significantly should give high wages
any assignee who should be sent out to Kentucky
any such mission!
Mr.. CRlrrENpEN said he had no party feelings ON
this subject He was influenced merely by sentiments
Of humanity TO unfortunate insolvents; and being
anxious to pass measure Of great and comprehensive
relief and benevolence he concurre in the entire sepa
ration Of the provisions for the benefit of the voluntary
bankrupt from those referring to the involuntary bank
rups, and especially from all considerations relating
to banks and other corporations He regretted that
these subjects had been mixed together Most will
ngly would he consent that bills upon each Of these
subjects should be reported and fully discussed. But
he would prefer to bill passed rather than that
the measure combining them all should be made law.
The Senator said that the bill Of Mr. Clayton came
not from the petitions from the public but from the
Committee Room. Where should it come from :?
Whence the Senator's substitute Did il spring
from JnTers brain, full armed with its numerous
tons? He hoped the Senator meant not to cast dis
credit on the origin of it. Mr. Wall disclaimed any
imputation.
Mr. CRIrTENDEN then closed with most impressive
and eloquent appeal Senators ON all sides TO discard
party feeling and unite in passing measure Of relief
and emancipation, which would be source Of blessing
to thousands and thousands of individuals, and pro-
mote greatly the prosperity and happiness of the coun-
try
Mr. WALL replied; and, after brief rejonder from
Mr.. Crittenden, the Senate adjourned
During the morning resolution was adopted fixing
the hour of meeting at eiepen O'Clock A. M.
EXECUTION OF THE REVENUE LAWS
The Bill, which passed the House yesterday to en-
the more faithful execution ofthe Revenue Laws
was brought into the Senate to-day and referred 70
the Committee on Finance.