Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-06-12

i much oppressed TO II. lie admitted, however, that
was an Improvement on the section TO make a refu
sal bya depository to pay over public moneys in hi
hands printa faeic evidence OF the embezzl ement
: the money.
= lie thodehi gentlemen could not but perceive, a
every step, that they had begun at the wrong end
The proceeding threw every body into the most pre-
y posteruus circumstances, and ought to be n warnn.
To gentlemen on the other side to stop where the,
were aud begin anew. As to the fiscal agent or in,
strumcnt proposed to be established, which coul,
live IN this District It could live elsewhere also 70
. the same clause of the Constitution which forbade
the establishment of bank IN the District forbade
, II In every fort, dockyord arsenal powder mas ne
ay, and IN every territory for over all these the U
States had exclusive jurisdiction. II 1t could live il
the District 1t could live in all these places and IN,
Senate might place such on institution in each ono
them aud then turn round and laugh AT the Const
tuition.
Mr. CALHOUN said that the great diferenc,
between him and Mr. Walker was that the latte,
did not consider Bank OF the United States as the
last alternative to be adopted. He viewed the State
Bank system as that last alternative, and in that
$ opinion the gentleman would stand alone on that
side of the House. Ii was then surprising that
fthe sub-TrcaSury must be repealed that gentle
man should go for a Bank OF the United States
rather than for the State banks.
MIR. WALKER denied that he had said that he
would, IN any alternative, vote for Bank of the
) MIR. CALHOUN reminded him that he had said,
there was nothing he would not prefer to the pct
banks. Ii the Senator did not mean to vote for
Bank OF the United States, why would he vote 10
put the country into a state still worse than even
thaR MIR. G. believed that nine tenihs OF the peo-
pie OF the United States considered pet bank sys.
TEN, unrcglated by Jaw and subject only to Exec
uiive control the very possible state of things
Mr.. e. was SORRY state that the probability was
very great that the sub-Treasury law would be
repealed. Ii that should take place and the act of
1886 should also be repealed, then the Senate
would DC pushed into place where it must choose
between bank of the United States and a pet bank
system unECgulltei by law Every l,,HN, kne
Mr.. CALHous's deep aversion TO the latter of these
alternatives, but he mast still consider Bank of the
United States MS more to be deprecated. 1t wss
with HIM the last possible alternative. He submit
ted TO MIR. Walker whether the Senator from Ken
lucky (Mr. C.ay) was not one who understood the
game he was playing, and saw with great clearness
10 what his course would oidl That Senator pro
posed the rcpea. OF the law Of 1886; and would the
Senator from Mississippi play intoI,he HI n is Of oae
whosopen.y avowcd his preference for bank OF the
! United States' Mr. c. again insisted that the Sem
ate had begun at the wrong end, and that the same
bill which proposed 10 destroy the sub-Treasury
should contain substitute 10 he adopted IN its room.
In fact, the difficulties becoming so great that
| gentlemen must come 10 that.
MIR. WALKER said that he did not choose either
to be misunderstood or misreprcsen,ed by the Sem
/ tor from South Carolina.
MrCALHOUN said tina, he was sure the gen.
temln did not suspect HIM OF wIiuliy misrepre-
scntng HIM.
Mr. WALKER said he did not. The gentleman
from South Carolina had said that # he preferred
Bank OF the United States 10 the pet bank system
he would stand alone on that side of the House
lie could tel that Senator that he not afraid 10
stand alone. That threat had no terrors for him
and would exert not the slightest influence upon his
vote. Ii he stood alone here, he should not stanC
alone IN his own State. ACKNOWLEDGING uaIonty
Of the people OF that State held the pet bank system
rs the very last alternative within the limits OF the
Constitution. There was no constitutions. measure
mat they would not prefer TO Il. IL had been their
curse. II had been established in 1891 against MIR
] Ws opinion then op My ayowed, Tor at mat time
he had stood alone in the Jackson democratic party
IN Mississippi. Ii no; absolutely alone he had GER
tany been nearly so, and so he had stood in 1886,
when lie yo:ed aSIlns, the system, and the Senator
/ from South Carolina voted for it.
/ MIR CALHOUN said that he had unqueslionably
preferred regulated system of State bank Geposi.es
| 10 Bank OF the United States
| MIR WALKER resumed. He did not presume
TO say wha; had influenced the vote OF the honora.
3e senator All lie SAID was, that there stood that
senator's vote on record in favor OF State banks by
/ the side of Mr. WIS own vote against them HIS
opinion had then been recorded although he stood
alone IN his party) that the State bank system would
explode. lie was now asked TO change his opinion
! but he could not DO II. Nor had he ever chansei
ms opinion, whatever might have been the case with
! other gentlemen.
The Senator had said that Mr. w. preferred
| Bank OF the United States; but he did not choose
/ that the Senator from South Carolina should nut
words into his mouth which he had not used or al
/ teFnatives which he had not stated. The Senator
| would not permit Mr. W. TO do so to him, nor could
! he himself submit to il. He had made no such
statement, nor would he consent that il shoul 90
out 70 the country that he had. What ne said was
th!s-that ne understood The President as condemn
/ ing the state bank system, aud equally cUndemning
BANK OF the United States, ana had suggested as
substitute for both fiscal agent which should not
be bank, and seemed 20 prefer It's establishment in
| the District OF Columbia. Mr. w. had then added
that though he preferred the SuO-Treasury TO the
her systems ye. lie would take such fiscai agent
as the President recommended in preference 10 the
State banks, and, ii the alternative were presented
TO him, would voe for Il. Because he was opposed
/ TO Bank Of the United States, must he therefore
| vote Tor State banks! lie WAS opposed to them
| both, aud could not vote for either.
The Senator from South Carolina had warned
nm that the motion for repeal OF the law of 1856
came from politician who understood his game
| ana WHO was ayowed.y IN favor Of Bank Of the
| United States. Ii might be 50, hut Mr. w worId
not on any question, much less a question Of such
VITAL and mighty import that OF the Currency ask
/ VINO moved the measure, but what the measure was
lie should he regulated by The merits of the motion
ana MOI by the quarter from which /; proceeded
! ne senator from Missouri had reminded him that
the clause of the bill prohibiting the oanIn, Of the
| puoic money would apply equally TO the State
banks. We'll, It so, could u not then substantially
repeal the state bank syseml for those banks paid
interest Tor the public moneys for the Ynress mr.
pose Of .OinIng them out again. II the senate
from Missouri was correct, then there was no dit
terence between him and Mr.. W. except this. tbnt
the one voted openly asalBs, State banks and Sc.
crstly Tor them; while Mr.. w. went both onenIv
and secretly against them in toto.
Gentlemen told him tia, IT both the syL. Too,
sury and tie law Of 1886 should be reueaisJ the,
tic public moneys would be under no coy,2oI or
law whatever, but this he denied They vynnIj
stu. remain under the glorious .aw Of I7-J. which
required the payment Of all Government dues in
Sod ani SILVER. without any particular means Of
knowing different from those POSSESSED bv Ohio,
gentlemen, Mr.. w. cherished strong homes tba, r
both the sub Treasury and the pet banks should he
put Gown, the President would conform himself to
/ The act OF 1883, Instead Of putting the public mo-
/ neys m any bank whatever. Mr.. W. was for
throwing that officer on his high responsibility su,
he never should, by Mr.. WIS vote, be forced yDon
The employment Of SAie blnks.
] The question being now taken on Mr. CaIhoup,s
amendment to the amendment Of Mr.. Clly. IL was
decided BY yeas and nays, as follows:
/ 1EAS-MCssTs. Allen, Archer BlfroU Rrp,o,
/ 5eruen, Buchanan, Calhoun, Cav of hI7b,m,
/ Fulton, Kerr, King, MclIobeus, Morrick. N,rboI'
son, Pierce, Preston, Riyes Sewer, Smith OF Con
nectcuiI Sturgeon, TippIn, Williams, WOODBURY..
/ Wight, Young-2j
NAGS-Messrs Bates Bnyard. Cho,te. Cl,v n
| kentucky, Clayton, Dixon, Evans, Graham. Hen.
/ derson, Huntington, Mangum, Miller, MoreboaJ
. IhelP' Port-r, Prentss mmors, Smith Of Ind
/ opuIhnfd, Ia..m1dSe, Walker, Whi,e-22.
30 the amendment 70 the amendment was adm
/ The question then recurring on the Amendment 40
thus amended, 1t was decided by yeas and nays, IA
| follows. ," 90