The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-07-17

defeat the just expectations Of waiting people
Let the Senator go to the country, and he would find
that all classes of the community would of all ca
lamties, complain lastly that there was too little
| speaking on either side
With regard to the intimation of the gentleman
from South Carolina, (Mr. Calhoun,) he understood
him and his course perfectly WELL and told him and
his friends that for himself, he knew not how his
friends would act, he was ready at any moment to
bring forward and support measure which should
give to the majority the control of the business Of the
Senate OF the United States. Let them denounce 1t
as much as they pleased in advance unmoyed by
any OF their denunciatons and threats, standing firm
In the support of the interests which he believed the
country demands, for one he ready for the adop-
on OF rule which would place the business of the
senate under the control of majority Of the Senate
Mr. CALHOUN. Bring on this question as quick
as you please you wish this session to last to De-
cember; and further, We will not withhold word
In consequence Of this measure. The attempt Of
the Senator (Mr Clay was vain, to say that he was
not acting on the Federal side. Now when all these
great measures not excepting the Senator's great
American system, were under issue, he (Mr. Clay
did not think matter of any importance that they
should have the liberty of expressing their opinions.
lie trusted gentlemen with whom he was acting
would be deferred from menace in that quarter
but would 60 on, and not be deferred from a single
word-that they would offer every amendment they
thought important and sustain it with words that they
thought necessary. He then briefly advocated the
Mr.. LINN would take all the privileges that be.
longed to him a member of the Senate. He then,
after noticing the remark of celebrated Roman con-
SUI referred to the transactions of present Admin
istraton party when in ascendancy in 1882, and
would track the steps Of the immaculate Why's" in
blood he mentioned the outrageous meansh that
mad been used at the charter election OF New York
CITY, IN 1851 and pointed to their revolutionary spin.
sssippi, Illinois, and Alabama. f-'
There nothing should deter him from per-
forming his duty, and standing up here, and doing
what he thought was necessary. No lofty bearing
or shaking OF the name would do il; and he would
tell the Senator from Kentucky that this was double
handed game, at which two could play.
Messrs. WALKER and ALLEN further advoca-
ted the amendment 1t was then rejected, as fol-
lows:
YEAS.-Messrs. Allen, Benton, Buchanan, Cal
houn, Clay, of Alabama, Cuthbert, Fulton, King,
Smith, of Connecticut, Sturgeon, Tappan, Walker,
Williams, Woodbury., Wright, Young-22.
NAYS-Messrs. Archer, Barrow, Bates, Bayard,
Berrien, Choate, Clay of Ky, Clayton, Dixon, Evans,
Miller, Morehead, Porter, Prentiss, Preston, Rives,
Simmons, Smith, of Indiana, Southland, Tallmadge,
White, Woodbridge.-27.
Mr.. WRIGHT offered an amendment to strike out
the clause authorizing the Secretary of the Treasury
to subscribe, in not taken up for onethird
OF the stock to be subscribed by individuals and that
the corporation should do no business until the whole
stock has been regularly subscribed for and paid
SoluinB W Tic PROVISIONS Oh lne DILL
MIR. WRGHT briefly advocated the amendment,
showing the necessity that the bank be entirely dis
solved from connection with Government.
Mr.. CLAY, OF KY, opposed the amendment in
spirited and able speech, showing that contingencies
might arise in which the whole stock being Ia
ken up, by individuals it might be necessary for the
Secretary of the Treasury to exercise this contn-
gent power, which he did not believe, however,
would be called into exercise and that it was in
tended only temporary investment-that the Sc
cretary was expressly required to dispose of said
stock when par value could be obtained. He also
spoke OF the beneficial results to the trade of the
country, which would flow from a contracted crcu-
laon of the Bank, before the whole amount Of its
stock was subscribed,) thus the whole amount of
specie in purchase of its stock not being entirely
shut up and excluded from circulation, would
otherwise be, perhaps for year.
He glanced at the opinions that had been express
ed by some Senators, of the constitutional right Of
Congress to repeal this law at any moment, and con-
tended that, it being created for specified term,
tered into by Government with the stockholders,
peal its charter
Mr.. BUCHANAN replied, warmly contending
that it was in the constitutional power Of Congress
repeal the Bank charter at any time.
Mr.. CLAY rejoned, and
MIR. BUCHANAN replied in an interesting debate;
and after few remarks by MIR. WRIGHT, in sup
port OF the amendment it was rejected by the fol-
YEAS.-Messrs. Allen, Benton, Buchanan, Cal
houn, Clay, of Alabama, Cuthbert, Fulton, King,
Linn, McRoberts, Mouton, Nicholson, Pierce, Sc
yier Smith, Of Connecticut, Sturgeon, Tappan,
Walker r. Williams, Woodbury. Wright, Young-22
Berrien, Choate, Clay, of Kentucky, Clayton Dixon
Evans, Henderson, Huntington, Kerr, Mangum, Mer-
rick, Miller, Morehead, Phelps, Porter Prenti,s
Preston, Rives, Simmons, Smith of Indiana, South
ard, Tallmadge, White Woodbridge-2s.
Mr.. CLAY, of Ala, offered the following amend
ment:
But until the sale of the stock so subscribed by
the Secretary of the Treasury shall be made by him,
as aforesaid the President shall appoint the addition
al number of directors to which the said stock would
be entitled, if held by individuals.
This after brief debate, in which it was advocat-
ed by Messrs. CLAY, of Alabama and WALKER,
and opposed by Messrs. CLAY, of Kentucky, and
HUNTINGTON, was rejected as follows
YEAS-Messrs. Allen, Benton, Calhoun, Clay,
of Alabama, Cuthbert, King, Linn, Mouton, Nichol-
son, Pierce, Smith, Of Conn, Sturgeon, Tappan,
NAYS-Messrs. Archer, Barrow, Bates, Bayard,
Berrien, Choate, Clay, of KY, Clayton, Dixon,
Evans, Henderson, Huntington, Kerr, Mangum,
Merrick, Miller, Morehead, Phelps, Porter, Prentiss
Preston, Simmons, Smith, of Ia, Southland, Tall
madge, White, Woodbridge-27.
MIR. WALKER offered an amendment providing
for the annual election of four directors by Con-
gress; which he, however, subsequently withdrew
for the present, and which, at his request was Or
dered to be printed.
Mr. CLAY, of Kentucky, offered slight amend
ment, making it obligatory the Secretary of the
Treasury to dispose of the stock which he may have
subscribed for under the contingency in the bill as
as he can obtain not less than its par value
which was adopted without debate.
Mr. WRIGHT offered two amendments previ-
ousy noticed and printed being restrictions on the
Bank; which were adopted without debate.
The Senate adjourned at one qnarter past three
O'Clock.
HOUSE OF REPRESENTATIVES,
MONDAY, July 49, lS4l.