Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1841-07-08
Congressional.
Correspondence Of tie Charleston Mercury.


Correspondence Of tie Charleston Mercury
!-.urrcusysusssANi sANi.as4lsGIlaS leSSs IAne %:
charter Banks in this District was put on
It's passage, when Mr. C!ay's colleague,
Mr.. Morehcad, moved for its rc-commit-
mcn,, with instructions TO strike out the
provision prohibiting the use Of The notes
of suspended banks. This had been in
corporntcd into The bill yesterday by nearly
unanimous vote Of the Senate-36 TO u;
bu, nights reflection wrought Il material
change, and after long discussion the bill
was re. committed by vote OF % TO "a
/, was urged in favor Of this course that ii
was impossible for the banks 10 do any bu-
sincss, if excluded from the use of the pa
pcr of the suspended banks in the neigh
boring States They intinatcd that while
the banks here were compelled to pay spc-
cic for their own notes. rs required by The
new charter, they could not issue them
without their instant return for specie; aud
if deprived OF the use of paper .! the sus-
pended banks. they could do nothing.
In opposition TO II, /, was said that TO
Incorporate six banks 10 commence The
work of di,cOuniiug 10 the utmost extent
thai ;hcir capitals would allow, nn Tic sus
pended paper whic! other banks would
furnish, without stint, would he 10 flood
The District with fraudulent currency.
which it was pretended TO be The great OBJ
Icct of charlcring these banks TO hanish.--
An Instance was given of an institution IN
81. Louis. exercising the privilege OF issu-
ing and circulating deprecated paper, aud
kept il current until the mechanics and Ia
borcrs were paid ol'iu il OF Saturday night,
On Monday morning, the institution rciu-
scd 10 redeem the uocs. and they fell al
once to n dscoun, of 80 per cent. Tie
burlheu Of all The abuses was lodged on the
shoulders Of the laborins classes, III whose
hands. for The most part, all the pcrishablc
portion Of the banksspawn died. The for
scrics-.,hc dcprccia,on--thc .'ctaccd,
worn out, last trash. made their exits !hro.
the poor, ignorant, aus, helpless, who,
havn. this fiction of money impose! upon
them hy the cunning, were incapable OF
cnforrin. their right, agains, the powcriu!
corporate opprcss"rs.
4 reason was also given for the reversal
of their course by The Wig Senators, aud
,ha, was their aversion tu do amy thin.
which would aid the resumption Of specie
payments, unit! tho charter of United
States Bank, when. the return 10 specie
payments could he attributed 10 that event.
The bill 10 incorporate United States
Bank was then taken up, but on accout OF
the la,cncss OF the hour, il was postponed
until 10 morrow. and tho Senate wen, into
Executive Session.
In the House an animated debate arose
on memorial in relation 10 the tariff.
Mr.. adams thought Iha, the friends OF 4
protcc,i VIC tariff should have an understand
ing a, this session on that subject. II,
considered j, question between free ant
slave labor. lie wanted gentlemen I,
show their hands, and show who were il
favor and who against the ;arif. He al
luIcd to English, interference in this case
and TO the obnoxious corn laws. He oppo
scd the reference 10 The Committee Of Way
and Means. lie thought there was ,o
much compromise in that Committee
iha, there were wolves there. The baul,