Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-06-08

Int il was not true IN legisa''on nc ~ r
f ,be Snb Treasury would rensate the pet bank sys
=. W. m. creation of Bank Of the United State
I'D snpercede the pet banks. lie could not Yo'
,h apolu,;,n at ali, especially since the ayowal
the Senator. -, ,,;, Jon,.d bv IN,
Senate yesterday for the appoh'hieh, u
mttee on the subjects of finance ana OF isca w
not cover his matter of the Subj Tor the ouiie
IF that committee rather looked TO an increase o. Tux
revenues but even if it did, this act OF epeai was a.
implied exception. MIR. Clay said ne most heai'l.
concnrred with the sentiment expressed ny Inc Seha
,r; from s Carolina that the only alternative before
the nation the SubTreasury, or Da''A ~ tux
IT, States. Undoubtedly there was no olher aiei.''
tive The Senator, with great manllness, mao au
this so had the other Senator thr. nngn.', VI
former occasion-it had always been Mr.. y. ; own
conyction-and he most glad 10 hear the iac' -
frankly admitted in that quarter. The only altefna
tive them Icing a Sub-Treasnry or Bank OF the
United States, and the People Of the United States
having most decidedly and unequvocally condeinneu
and repudiaed the Sub Treasury, 1t only renamed la'
Congress should provide in due Bank OF the
United States But this not session tor taking
it was pre.eminently the season for action The day
of Judgment is come (said Mr.. Clay, with great EN-
phasis and animation) the day OF Judgment nope Is
come-at least to our political world
\ MIR. CALHOUN said. that when he had before re-
marked that there was but alternative beside The
Sub Treasury he meant TO be understood that Fotca
parties in the country had rallied on these two inca
rures that there was, practically, no other alternative
| But there were other alternatives winch might Do
adopted The pet bank system alternative,
though in practice, it was but "haf way house on
the road to a Bank Of the u S. The Senator himself
had SO designated it, and had declared himself content
to lodge in il for year or two. But Mr. G had al
WAYS known that 1t must come 10 National Bank al
| last il the ub-Treasury were once abandoned 1t
was in this view that he had resisted this scheme IN
1887 and should continue 10 resist it in all ITS stages
Mr. RIvES said he should Tor the resolution,
not the ground that, II the were re-
pealed the only alternative must be Bank OF the I.
States. He thought there were many alternatives-
The President in his message had indicated several
There were the State Banks, there was U. > Bank,
as formerly organized, and there was fiscal agent
which mirht be marked with very different character
The removal of the Sub Treasury would al least mar
row the field Of choice. If that should be thrown
aside the Senate might reach decision as TO
what should be substituted for it. lie entirely agreed
with the President that large majorty OF the People
of the U. 5. had unequivocally condemned the mra-
sure, while, at the time, they had not pronounced
their will in favor of any other. The Senator from .
Carolina himself had expressly admitted on former
occasion that the Sub-Trcasury had been condemned
by The voice of the nation. So, at least ne was re-
presented to have said for, Mr. K did not speak from
his own personal recollection.
MIR. CALHOUN beggsd leave 10 correct tho Senator
| from Virginia The statement Mr.. {. had made was
that in regard to the Sub Treasury, taken as sole and
solitary measure the People had declared their OPPOSE
/
ry in favor either OF the pet bank scheme, or that OF
| u. S. Bank.
Mr. RIvES. Well; majority Of the People being
conitssedy against the SubTreasury, he did not see
why Congress might not, forthwith, proceed TO execute
the public will. When that done, the State bank
question would revive, and then it would be Tor Con-
gress say whether those banks should hold the pub
lie moneys, whether wc should adopt Bank OF the
u. S. or should create fiscal agent. Without
intending this time, to commit hnseltto either OF
The three schemes, Mr. r. was prepared at once to COM
nit himself the nation had committed itself, TO The
/ re peal of the Sub1'reasury law.
The question being called for on the resolution
/ Mr.. CALHOUN proposed to amend It BY adding the
words sand to report substitute
Mr.. CLAY hoped the amendment would not be
made and he called for the question.
Mr.. CALHOUN demand the yeas and nays,
which were ordered
MIR CLAY The amendne nj proposes that the Fl
nance Committee shall report substitute Tor the sub
Treasury that is it total nuiies the select commit
lee which the Senate appointed on the subject OF hnance
and fiscal gent Of the Government.
/ Mr.. WOODBURY. suggested whether it won d not
be cxpcdent 10 refer the pending resolution TO The Sc
ec committee instead Of to the Committee on Finance
\ Mr.. CLAY said that the select committee stood on
special and peculiar ground, and the objects Of its ap.
pontment did not embrace that of this resoluton-li
he thought that they did, he would, with pleasure,
adopt the suggestion
Mr. WALKER asked whether the subject not
already before the select committee and whether the
amendment would not defeat that reference:
MIR. CALHOUN said his object was 10 take the sense
of the Senate whether they intended to act separately
on this subject without the other matters connected
with it, There three sells Of opinions in the
try-one for a National Bank, for the Pet Banks,
and one for the Sub Treasury. The object of this
solution had been distinctly avowed; was the ssta
blishuent of National Bank. The Sub Treasury had
Just commenced lis operations; why not give lar
| trial;
MIR Clay, across. Because the people have condemn
ed IT.
II Is said there is majority Of The People opposed
10 il; and SO, believe, there IS against the pet bank
system and against Bank Of the u. 5. If the resou
ton adopted, MIR. u did not care 10 WHICH cohi-
miitce il wns referred.
Mr.. WALKER preferred lis reference TO the select
committee on the currency, &c.
The question put on MIR. Calhoun S amend
ment and decided by yeas and nays, as follows:
Yeas-Messrs. Allen, Benton, Buchanan, Calhoun
| Clay, Of Alabama, Fulton, King, McRoberts Ncho
son. Pierce, Sewer, Smith, of Connecticut, Sturgeon
Tappan, Walker, Williams, Woodbury., Wright, and
Young-l9.
Nass-Messrs. Archer, Barrow, Bates, Bayard, Ber-
ren, Choate, Clay, of Kentucky, Clayton, ID xon,
Evans, Graham, Henderson, Huntington, Kerr, Man
gum, alerrick Miller, Nlorelead, Porter, Prentlss,
Preston, Rves Simmons, Smith. Of Indiana, Southland,
Tallmadge, and Woodbr'dge-a7
The resolution Of Mr.. Clay then adopted, as
follows
Resoired That the Committee Finance be direct
ed to inquire into The e1pedency Of repeating the act
entitled "An act to provide for the collection safe
keeping, transfer and disbursement of the public reve-
nucs.
On motion of Mr.. CLAY SO much of the Presidents
Message relates to the subject Of the finances was re-
ierred 10 the Committee on Finance
II MIR. RIVES moved that SO much of the President 5
Message relates to foreign affairs be referred to the
Committee Foreign Affairs.
Mr.. BUCHANAN hoped the Senator would defer
that motion for day two; lie desired to pay parcu-
lar attention TO the late correspondence between the
British Minister and the present Secretary Of State.
His impressions very different at present on the
law Of nations from those Of that distinguished gentle
man. He did not know that he correcti his views,
and il, examination, lie found that he was not, he
should most cheerfuly yield his opinions.
MIR. RIfES assented.
On motion of Mr.. HUNTINGTON, much Of the
Presidents Message relates 10 commerce was refer
ed to the Committee Commerce.
i Mr. PRESTON submitted The following
ReSolred, That the President of the Y. 5. communi-
cate to the Senate the which led to the sailing
M