Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1841-07-20
gmrntp- = eurntb GonDttss.
General Baniruni lam.

In the Senate, to-day, Mr. Iallmadgc rro,..
petition for General bankrupt Law itam ,t..- I
the state OF Missouri. Mr + said hc ho.,I ,.
iect would be acted on at this session. as ,......
urc, and that it would be Invested oi all ps1,
etatiuns He alluded TO a statement I'm u
saying that Mir Clay would keep back ,u, r,,,.
political capital, but he knew thus was not 81,
The Senator from Kentucky was willing ns..
his aid aud couuteuauCe, though his State v5,. IL
uary interested IN It, His former coIcsgi, p Es
Cfuenden) had advocated It with Qrca, zeal. ,.s IL
hc was not now here, his place was filled uy 3.
man who was also IN favor OF It, (Nt. Noyr.e,.. II
said there was difference of opinion ais To- r..
corporations but would vote for a bl.l lncluaa. h.
rather than have no bill. He was of opinion NJ. n
loss of this bill would be extremely injurious . y =
party opposing IT,
MIR. Walker thought this bill infinitely more ,..
tant than any other before Congress, and ne v,,,
ious TO have corporations included, he would sl.,.
bill without that provision. He said it was N, .s
ton TO bring the subject before the Senate as so,
the Bank Bill was disposed OF.
Mr.. Linn opposed.
The subject was laid aside 1t will be reron.sr
that Mr. Berrlen has reported a bill on this suaea i
Fiscal Bank.
Mr.. Wright moved to amend by striking ont. ia d,
first section, the hundred thousand shares which ii,
L. 5. are to subscribe for. The Government, had y
cash capital TO dispose of, and he asked whether
would be eXpedent for it to contract debt kt D. /
4 a
Mir. Clay sad, as a new matter OF speculation
would be no objection for the Government to bero-
a partner IN the concern but, in another point
view, 1t was very important The object Of mssg
the Government stakeholder was to give se,urlW sd
stability to the institution. lie iutlmaicd that Gaa
men by offering the same amendments repe1eai a
different forms, showed a disposition TO waste Bw
and delay the bill. The country demanded action a.
I ton,-immedlate action. He said he would be- vi
ing 10 vote for any rule which would give to the ua
jority OF the Senate a control OF its business.
MIR. Calhoun opposed.
MT buchanan protested against this bin being hrI
ed through the Senate. Should it be determined howl
ever, this Special Session without ailordinq an c
poruny to tie people to consider the subject and t
press deliberate opinion upon II, to force a Bank g}
on the country, 1t will be necessary for u.s. sad NJ
Buchanan, to declare our intention TO repeal it, All
continued Mr.. Is. will repeal it,
Mr.. Clay lnlimated that the friends Of the bill won.
care very little for the menace of repeal lie da
not care about discussing the night Of repeal IN adrD
OF the establishment OF Bank. After it was passed
if the gentleman would lay on the table proTosio
OF repeal, he Alr c. would warrant that many wuU
be ready to discuss 1t. When that moment came, M
moral feeling of the country would rally ia defence
the rights vested under the charter and ropel and
pudlate this doctrine Of repeal Let the pentem
come forward with that doctrine, after the passage Of
charter and if don't defeat them upon il worse III
they were defeated at the November election, ,het
| am much mistaken.
Mr. Buchanan rciOincd
| The debate continued an hour or two, and
| amendment was rejected. Yeas %, nays Of
! Mr., Wright moved further amendment requr
that the whole capital of the Bank be paid in before
! goes into operation. Lost, % to o.
Mr. Wright then offered a long amendment reo,
ing, among other things, that the directors shall ma
no dividends except from the surplus profits that To
shall AT any time pay 10 tie stockholders any pad
the capital stock of the Bank that they shall noli
ceVe or discount, or suffer to be received or sco
ed, any note or other evidence of debt as a paymcn
or upon any lnstament Of the capital stock actla
called for and required 10 be paid that they shall
receive or discount any note or other evidence Of
| intended to enable any stakeholder to Withdraw d
part OF the money paid in by him as his stock a
they snail apply none OF the funds OF the corpon,a
TO the purchase of its own stock &c &c
! ms amendment was agreed TO- with litlle onDu
| ton
| The next amendment which Mr. Wright had 70
| eT was, as he said, Of so much importance that
would defer it I'LL Tomorrow, and the Senate, at alg
3 o'clock adjourned
The amendment which Mr.. Wright intends TO Of
| tomorrow, points out the mode Of proceeding again
| the Bank IN case IL suspends specie payments pr
vides in that case, that the charter shall become o.
and void, and that the affairs of the corporation be
| qUidated.
Ia the House, Mr.. j. @ Adams offered a rcso.aas
directing the Secretary Of the Treasury to Ia, .f.'
| the House at the next session, a statement OF SO
debts, stocks, &c, and the condition and profits Of s
public works, &c
Loan BR Passed
Mr. j. w. Jones spoke an hour against the Te'
| million loan bill, contending that there would he
dehclt on the LIST Of January 1912, except $4,000
| and offering permanent loan.
Mr.. Atherton spoke on the same side. and c0llea
ed that the money was not wanted and that he st
! session was called for objects unconnecttd VIII "a
stale Of the Treasury.
Messrs. &. Davis and w. b. Dawson took he on
side OF the question, making apparent q debt o.
/ millions
Mr.. Fillmore moved an amendment 70 ne Bill p
object OF which was 10 enable the present adHia'7
ton to pay of the debt, during their present cfn-
. The amendment, provided that the loan should be ff
facied Tor at siN per cent interest, and payable az
months notice, # the Secretary Of the Treasury ssA
choose, and at all events, at the end Of three year.
Al the hour Of two O'Clock, the Bill was wP'1i
to the House. Mr. Fillmore's amendment above q
en- was agleed TO, and the bill was finally pas,ed ga
l2i nays 3d.
Wednesday, jolly liA
The bill now before the Senate will be pehedsS
rs form on Saturday, tho l7lh. The OpPos.Ayl 81
have 10 further amendments 20 offer
Inc House Committee on the Currency wIIl Re- I,
blll establishing Bank very Son--pf05al} p
Gays b!il, Us pfopos ed 70 be amended by mf k'f'
and the House viii proceed % act upon D. VIZ
waiting Tor ille final arllOu Of theSenaie Oh mr. 90.
BIZ That is tie romor
he Tam BIZ was reported 10 dav
ln tie senale, the Home bills making apf'o
lions icr Navy Provisions and Navy Ordnance ~