The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-13

Mr.. CLAY intended that.
MIR CALHOUN said he had understood there was
sonehngiback OF this the gag-law was 10 be applied
Il had been in the other part otthe Capitol He took ms
ground that he did wish delay ana anxious the
debate should terminate tomorrow He believed this bill
more destructive than any measure ever brought or
ward He intended tc move in his own direction;
10 take his time amply, and no more their course
should be direct and fair one they could not con-
sent to system OF measures fatal 10 the country
than any ever brought forward. They intended 10
discuss them fully, unless stopped by force
Mr.CLAf had said nothing with respect TO the motives
Of the senators but that their motives might
be- the tendency OF their course delay and that
he repeated. lie would state fact that Saturday
there were seven speeches made bill, by that
side, without one reply TO them and the Senator from
South Carolina Mr. Calhoun) made one
MIR. CALHOUN. On what question was that
MIR. CLAY. The Senator must resort 10 his me-
mory ! state the fact
The friends of this measure were responsible for
II, and wished To make il as perfect q they could
therefore their office a very different one from
the opponents OF the measure who wished 10 render
Il as odious possible
lie recolected that during the war, Fckerin & and
some Others denounced a loan which went TO carry
on The war, and endeayored TO dissuade capitalists
from embarking in this loan What had now been
the course OF gentlemen the other side, whom he
regarded modern Federalistsi TO denounce this
Bank-to declare that this stock would never
be taken up and 10 say that they would agitate the
question Of repeal TIL il effected. This was
precisely reterating the course and the measures oil
old times by discussions addressed TO the country TO
defeat the operations of laws, that may be passed by
majority OF the representatives Of the country !;
and he must say, that he regarded this discussion
here as merely to protract debate consume time and
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
lamities, 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 ready al any moment to
Dring 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 it
as much as they pleased III advance unmoyed by
any OF their denunciations and threats standing firm
IN the support OF the interests which he believed the
country demands, Tor one he ready for the adop
ton OF rule which would place the business OF the
Senate under The control OF majority OF the Senate
Mr., CALHOUN. Bring on this question quick
as you please you wish this session to last to De-
cember; and further we will not withhold one word
III consequence OF this measure. The attempt of
the senator MIR. Clay was vain TO say that he
not acting the Federal side. Now when all these
great measures, hot excepting the Senator's great
American SYSTEM were under issue, he MIR, Clay
did not think matter of any importance that they
should have the liberty of expressing their opinions.
lie trusted gentlemen with whom he acting
would be deferred from no menace in that quarter,
but would go on and not be deferred from 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
amendment
MIR. LINN would take all the privileges that be
longed To hun as member Of the Senate, He then,
after noticing" the remark of a celebrated Roman
sui referred TO the transactions of the present Admin
istratlon party when in ascendancy in 1892 and
would track the steps OF the immaculate w hgs in
blood lie mentioned the outrageous means" that
had been used at the charter election OF New York
city IN 1884 and pointed to their revolutionary spirit
as exhibited at that time in the Legislatures of Mis-
slssppI, Illinois, and Alabama
There was nothing should deter him from per-
forming his duty, and standing up here, and dong
what he thought was necessary No lofty bearing
or shaking OF the name would do ii and he would
tell the Senator from Kentucky that this double
handed game, at which two could play,
Messrs WALKER and ALLEN further advoca-
ted the amendment. 1t was then rejected, fol-
lows
YEAS.-Messrs. Allen, Benton, Buchanan, CAL
houn, Clay, of Alabama, Cuthbert, Fulton, King,
Linn Mckoberts, hlouton, Nicholson, Pierce Sewer,
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
Henderson, Huntington, Kerr Mangum, Merrick,
Miller, Morehead, Porter, Prentiss Preston Rives,
Simmons, Smith, of Indiana Southland, Tallmadge,
White, Woodbridge.-27.
Mr., WRlG HIT offered amendment to strike out
the clause authorizing the Secretary of the Treasury
To subscribe IN case not taken up, for onehrd
of the stock to be subscribed by individuals and that
the corporation should do business until the whole
stock has been regularly subscribed for and paid ac
cording to the provisions of the bill
MIR. WRIGHr briefly advocated the amendment
showing the necessity that the bank be entirely dis
solved Government
Mr. CLAY, of Ky, opposed the amendment in a
spirited and able speech showing that contingencies
might arise, in which the whole stock not being Ia
ken up, by individuals, II might be necessary for the
secretary OF the Treasury TO exercise this contn-
gent power which he did not believe, however,
would he called into exercise and that il was in
tended only as 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 contracted circu-
lalon 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, as would
otherwise be- perhaps for year.
lie 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, II being created for specified term
could not, without violation of sacred contract en-
tered into by Government with the stockholders re-
peal its charter.
MIR, BUCHANAN replied warmly contending
that it was in the constitutional power Of Congress TO
repeal the Bank charter at any time,
Mr.. CLAY rcjoincd, and
Mr.. BUCHANAN replied in an interesting debate
and after few remarks by Mr. WRIGHT, in sup
port of the amendment il was rejected by the fol-
lowing vote
YEAS.--Messrs. Allen, Benton, Buchanan, Cal
houn, Clay of Alabama, Cuhbert, Fulton, King
Linn, McRoberts Mouton, Nicholson, Pierce, Sc
war smith If
Walker, Williams, Woodbury., Wright Yong--22
NAlS-Messrs. Archer, Barrow, Bates, Bayard
Berren, Choate Clay, of Kentucky, Clayton, Dixon
Evans, Henderson, Huntington, Kerr Mangum, Mer
rick, Miller, Morehead, Phelps, Porter Prentiss
Preston, Riyes, Simmons, Smith of Indiana, South
ard Iallmndre Whiln Mnnhhrid re--oa