, 1841-08-07
CONGRESS.-ExrRA SESSION.
UNITED STATES SENATE.
WrDNEsDAr, July 81, Is4I.
CENSUS,

when was agreed TO. The bill was then or
dered to a third reading.
FISCAL BANK.
The Senate then proceeded to the consid
Grafton Of the bill to incorporate the subscri
bers TO the Fiscal Bank of the United
States.
MIR. Allen submitted an amendment max.
ing the stockholders liable to the extent Of
their stock. The question was then decided
in The negative-yeas 81, nays "a.
Mr.. Allen wished 10 amend the bill bv
striking out the word corporations" in the
clause designating by whom stock may be
subscribed. He looked upon these corpora.
tons as the medium through which foreigners
might subscribe in defiance Of the law. He
did not desire 10 extend the privileges OF
this class, which already enjoyed too much
power. The question was decided in the
negatiye-ayes 81, noes 25.
Mr.. Walker moved an amendment, pro-
hlbiting any loan TO any corporation. He
attributed the disasters which had attended
the late Bank of the United States chiefly
TO its loans to corporations.
The question was decided in the negative
--syes 90, noes &c.
Mr.. Calhoun wanted 10 amend the bill by
striking cut the power given to the Secretary
of the Treasury to sell the stock.
Mr.. Clay of Kentucky said this PROPOSE
ton went TO deprive the Government, that
Of availing itself Of the rise of the stock
Besides, he had another object, which was
to send the stock abroad.
The question was decided in the negative
ayes IA, noes 81.
Mr.. Calhoun did not think there was the
slightest probability Of the stock being above
par, either here or abroad. If his amend
ment should fail he would be glad of Il pro-
vision to prevent the sale under par, of any
of this stock. He took a view of the inan.
cial operation in Europe, and insited that If
We sent stock to Europe, We should not re-
ceive money.
The question was then taken and decided
in the negative-ayes 81, noes 26.
Mr.. Clay moved TO amend by inserting
the words sand not less than the par value
thereof" which was agreed to.
Mr.. Calhoun movedan amendment chang,
ing the mode of making the dividends and
providing a new rule to govern their ~calcula-
ton. The object of this amendment he sta.
ted to be to transfer the surplus fund to the
Treasury, instead of permitting it TO accu-
mulate in the Bank, subject to its control.
The amendment was then rejected-ayes
%, noes &c.
Mr.. Buchanan moved II amend the bill
by inserting the words and the private de.
posite. so as TO include them in the basis oi
capital on which discount may be allowed.
One for three he did cot regard as any %securi.
ty; and such he belived was the proportion
to the circulation which the specie sometimes
bore in the late Bank Of the U. S. One
to three of the circulation would be about
as one to ten Of the whole Liabilities, includ-
ing the deposites.
The amendment was reiected-ayes %,
noes &c.
Numerous other amendments were offered
which were rejected.
The bill was then reported, and on motion
Of MIR. Clay. the bill was laid on the table
and ordered TO be printed. The Senate adj
journed.
10 the House, on motion Of Mr.. Fillmore.
1t was resolved that the President of The u
States be requested to lay before the House.
any communication from the French Minis
Ter to the Secretary OF the Treasury, relat-
ang to our and navigation with
France. under existing treaties.
Mr.. Barnard from the Judiciary Commit
tee reported 4 General Bankrupt bill. A re-
SOLUTION was also reported from the same
committee recommending that no action be
lad on This subject at The present session.
This resolution was laid on the table by a
vote of Il8 to 90. This bill was read twice
and committed.
This following resolution was reported
from the Commute on Commerce.
Resolved, That a committee Of nine mem
bers, mol more than one Of whom shall be
one State, be appoincd by the chair.
to act during the recess, for the purpose of
evidence at the principal ports of en-
try and elsewhere, as to the operation Of the
existing system and rate OF imports upon the
manufacturing, agricultural and commercial
Of the country, and procuring gene
rally such information as may be useful to
Congress in revision Of the revenue laws,
may be attempted at the next ses-
A warm debate arose, which had not ter
at the expiration Of the morning
hour.
Ill., III ..L..- e. A. -