The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1841-07-30

gagged TO take onc-third of the twenty mil
lions reserved to private stockholders, il
not taken by them.-The debate on this
motion continued an hour or two, and the
was rejected-22 TO u.
Mr.. Wright moved further amend
ment requiring all the capital to be paid iu
before the bank goes into operation-lost.
Mr., Wright now moved long amend
ment requiring, among other things, that
the directors shall make no dividends ex-
cept from the surplus profits; that they
shall apply none of the funds of the cor
porallon to the purchase of Its own stock,
&c. &c. This amendment was agreed to,
with little opposition. Adjourned.
H0uSe-At two o'clock the loan bill
was reported to the house, but essentially
modified. As II stood, it provided for a
loan at per cent, reimbursable in 1850.
But as amended, the interest allowed is 6
per cent. and the bonds are redcemable at
g months notice, or at iarlhost, i'll years.
The bill thus amended finally passed, by
"A vote OF yeas l24, nays 03
Juiy 3.-Senafe-A message was re-
ceived from the house accompanying the
twelve million Loan Bill. On motion of
MIR. Clay it was read first and second
time by its title and referred, and Mr..
Benton said, '.let it be chris,ened the
Eidesf Daughter of the Bank"
The bank bill was now resumed, and
Mr.. Wright presented an amendment,
pointing out with great mnueness the
mode of proceeding against the bank in
case it suspends specie payments. 1t
provides, i'll that case, that the charter
shall become null and void, and that the
affairs of the corporation be liquidated.
lhls amendment, after a debate which
took up the greater part of the day, was
negatived-25 to %. Adjourned.
House-The morning hour was taken
up in discussing the case of Mcleod.
The rest of the day was occupied in COM
mittec- of the whole in considering the
various appropriation bills for Notifications
and coast surveys, navy pensions, and
for ordinance and ordinance stores.
Juiy l5.-SCaaie-Mr. Wright pre-
scented the proceedings of a meeting of ci-
tizens Of the city of New York on the sub
ject of American citizens in exile under
sentence of the British authorities, and So
Letting the interference of this govern
ment to procure their release. The pro-
ceedngs were referred TO the committee
on foreign affairs.
MIR. Clay said he should be very glad
to take up the loan bill if there was no
objection. Mr.. Calhoun objected. His
attention had not been directed to this bill
at all and as they had progressed so far
with the bank bill he hoped they would
continue it to completion. Mr.CIay urged
the necessities of the treasury. MIR. Cal
houn was unwilling to despatch this i'm
Portant bill under such urgent circumsian-
ces. If the necessities of the treasury
were SO great he would propose that they
be met by treasury notes. Mr.. Clay said
he would as soon take up the sub-treasu-
ry, as the old treasury note system. No,
he was for an old fashioned loan, and he
gave notice that he would move 10 take
up this bill at the earliest opportunity.
He then charged the minority with vast
ing the time of the senate, and limited his
intention to introduce a gag-law. Mr..
King dared the gentleman from Kentucky
TO attempt it. Mr.. Clay said he would.
Mr. King said they were not going to sub
nit to dication of that kind from any
quarter. At the commencement of the
session they were told they must force
through measures which the senator from
Kentucky decided should be acted upon
first. First they were to sweep away the
rubbish, as the senator from Ky. denom-
mated the sub-treasury, and then they were
TO build up national bank 4: but now,
when nearly all their amendments were
got through they must be forced to take
up new subject, and to have two unf-
nlshed subjects on the table at the same
time. Now, he would make PROPOSE
ton to the senators opposite-he would
propose that they take the vote on all the
amendments on Saturday, and then that
the discussion should be limited, and the
final question taken on Monday. Were
the gentlemen prepared TO agree to that
No, they were not ready, and yet they
complained that the minority protracted
the business. Mr.. X. was truly sorry that
the honorable senator had so far forgotten
what was due to the senate, as to threaten
TO enforce rule which had never been
more abused than by the senator himself.
For himself, he, (Mr. Ky was a quiet
man he rarely said any thing but when
ever the threatened restriction should be
attempted TO be applied, in violation Of
the constitution, he, for one, was deter
mined TO resist it with the proper spirit.
The debate was further continued by
Messrs. Benton, Calhoun, and others, al
Ter which the senate went into oypcuiiye