The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1841-12-30
Tmentp= SeOcnth Congress.
SECOND SESSION.
IN SENATE.
"WEDNESDAY, Dec. 30, lS4l.
THE BANKRUPT LAW.

THE BANKRUPT LAW.
Mr. BUCHANAN presented petition, from
nufacturers merchants mechanics and Others of the
city of Philadelphia, praying lori certain alterations
in the Bankrupt law, and IT the should not be
made, that the act be repealed He observed thai the
private letters, which he had received with regard to
the subject, spoke very strong language &c the
i'll effects which were anticipated from this measure
of the extra session.
Mr. MOREHEAD presented the petition Of Ger-
chants of the city of Louisville praying for repet
Of the Bankrupt law. He stated that the petition
came from class of men: whose opinions were enti-
tied TO the highest respect.
Pet,ons were presented by the PRESIDENT and
by Messrs STURGEON, SMITH, Of Indiana, and
WOODBURY.
Mr. PRESTON, from the Committee on Military
Affairs 10 which the subject had been referred re-
ported the bill with amendment to provide for the
claims of the State of Georgia. for the services Of her
militia in the Florida war.
Mr.. HENDERSON introduced a bill to revive
and continue force for limited time, certain
pas sel in 1887 and 1890 in relation to the discharge
of claims under the treaty with the Choctaw Indians
which was read first and second time.
On the motion of Mr.. SMITH OF Indiana, il was
resolved that the COMMITTEE on Claims be instructed
to inquire into the expedency OF paying Samuel
Miroy, a receiver at Provlncey,lle Indiana money
withheld from him by The Treasury Department
/ The bill granting pension to David Waller, and
the bill to establish an additional land district In the
State Of Alabama, were seyeraly read third time
and passed
AMENDMENTS THE CONSTITUTION
MIR. CLAY said that he would now ask leave, agree
ably to the notice which he gave yesterday, to intro
duce three Joint resolutions, proposing certain amend
ments TO the Constitution of the United States. The
first of these resolutions proposed amendment re-
strctng the Veto power; the second, yesting in Con-
gress the appointment of the Secretary of the Trea-
sury aud the Treasurer; and the third, preventing
any Senator or Representative in Congress from
cepting civil office under the authority of the Uni
nd Stntps thn form he fiona tern
\ for which he may be elected lie said that, from
this movement on his part ii would be seen that the
object which he had in view was the reduction of
Executive patronage within proper limits. 10 this
! object, the party OF which he was an humble mem
Der had pledged itself before the election which took
place last November at all events, whether the party
now stood pledged not he, for one, felt himself
so pledged, and in order TO redeem that pledge, he
had submitted these propositions. 1t was not his
purpose to 90 into discussion of the subject at the
present time, but merely to present II to the view OF
the Senate and if the Stnat, loud grant him leave
to introduce his resolution. he ed that they would
have their first and recond aa,.s.g, and that day
n would be appointed for their discussion.
The resolutions having been read,
Mi CLAY said that II any SENATOR desired to sug
gest amendment he might do So, but, as he sup
posed that such proposition would now lie made, he
would move that the resolution be made the order of
the day for the 18th of January and thalthey be print
ed for the Of the Senate.
} The question was then taken and the motion
agreed TO-
THE BOARD OF THE EXcHEauER.
!, Mr. PRESTON remarked that he had, the
other day, moved that the report Of the Secretary of
49, Ia XXI ,,aon iha ali, anL a,;n,oj he ,,nnld
n,y ca ,he attention IL ,h Senate t his impo,tan
matter and ask them TO take itup. II was well known
that at the last session there entire failure to
s,,hIsh anv sv.,en, Of finance And ,he d.nrrssion
Ia cr,encv onIih. c,o,,, ant .,,h,,r,ss, nt ~ IN.
cnnnrv N Winch Nh. ,yhola ,nnu,;,v va concern
oil nnyy unused he resn,nsnlitv man CONGRESS Ia
ia soma,h,ng t,r be uentrd r.l,.t Ahhouph AZ he
last session there was difference of OPINION between
the co ordinate branches otthe Government he hoped
that that difference might be cconced by compromise
and 81 i'll more BY nu uaI feeling of the necess les Vi
the country Acting in conformity with these feel
inrs and animated by the feelings which no doubt
animated Congress- the President had submitted Il
pIan of finance atd it was his desire that this or
something else sh iuld before the termination of Con
grcs- be ad,ptei 10 afford far they could, relief
to the people and tar they could, 10 correct the
: currency Of The country and give eacc the public
mind upon this subject, which, as long 1t was
,gitaed must result IN evil He therefore hoped that
The wisdom of Congress and he coordinate branch
of the Government would cooperate upon this sub
ect and such operation, he trusted would produce
sasf lc,ory nsuts AT all events, he would not per
mt himself to despair as yet to the final and f,vo-
rable termination to which he had alluded. II would
MT be proper, at this time to investigate the system
which they had before them but, unquestionaby, 1t
was a sound system, and strong one, and it was
I novel in many OF its ieartutes, 1t proposed
alterations in The Treasury system, for which they
had precedent, and which, as they would
lead to important consequences demanded delbera e
consideration 1t was IN some sort, compromise
and the edllce erected from other plans, prepercd
in various ways from projects which had heretofore
existed, and someof its features were entirely new.
The first impression on his mind was, that 1t ought
be looked upon with caution, discreton and dcnbera-
ton; and he felt assured that, whatever direction
should be given TO II, by the Senate or by The otheI
House would receive from their hands the attention
, which was due 10 its importance Favorable, how
ever, he was to this plan, he might be permitted to
say that there were some portions OF which stagger-