Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-06-10

In SENATE.

MIR. CLAY sad lac would call the attention G
the Senate to n resolution he wished to present
roviu,. out OF some of the Suggestions contained II
the report uC the Secretary OF tho Treasury. Tha
report had doubtless been re al by the Senators gen
crafty and il would ho reco,lccted by every gentle
men that II concluded Ivy an explicit recommcnda
tlon Of plan for the creation nt Bank ot the Uni
ted States. The Secretary added the suggestion q
what MIR G.. should lie most glad to see, though he
must confess that lac Ind not tull faith IN It's pract
chbtity, viz: plan for conducting the fiscal bust
ness of the Government which shall reconcile al
opinions and harmonizc the votes Of all parties 10
the country. However 1t might bc very right that
the Senate should see what is the plan which the
Secretary thought capable Of oilecting result so
desirable TO all; It certainly proper that any
plan that officer might deliberately have prepared
aud recommended to the adoption ct Congress
should he IN its possession. With view to Obtain
this, MIR c. had prepared resolution M the follow
Iny; words:
R.so,rsd, That the Secretary Of tho Treasury be
directed 10 communicate to the Senate, with liz
tie delay as practicable, plan OF such Bank to be
incorporated 10y Congress rs IN his opinion is best
adapted to the public service.
Before the question was taken on the resolution,
Mr. - would submit a s"gle remark as To the re.
lation subsistng between the head of the Treasury
DEPARTMENT and the Congress OF the United States.
lie was aware that objection had frequently been
IN tde, and MIR G. had himself made It, to calling
upon the Executive Department for forms of lesis-
lalIon. That objection did not Tic against n call
upon the Secretary of the Treasury, because that
he was made Ivy law the servant OF Congress. The
act OF 1889 made II his express duty to report TO
Congress any information connected with the De
parlmcnt for which they might apply TO him. On
the basis of that law MIR e. had employed the phra-
seUlogy IN tins resolution.
Mr. KING said he too DESTROYS Of seeing
what the plen of the Secretary IN truth was. Pro-
vtded IT such nu one as would meet the nppro
baton 81 gentlemen Of both sides OF the House, Mr..
X was certainly prepared 10 give u his sanction
and support but he greatly feared that was an ex-
p.ctalion which never would be realized. He
would, however, prefer that, III calling on the Sec
rotary Tor 1t, the honorable gentleman from kcntuc
XIV would pursue the phrascolusy IN which that Off
rer had himself alluded To It IN his report. The
Secretary called II fiscal agent; MIR. Il. did not
understand hlm declaring that this agent must be
a bunk. II the Senator would modify his resolution
30 far as 10 insert the words fiscal agent instead
II Bank Of the United States" Mr.. h. would
-hcerflly vote for It. lie was anxious the
mover himself Ia what the plan al the Secretary
wa; hut as the Report did not des'r ibc 1t n
Bank ofihe United States, he objected TO the use Of
that phraSenlogy IN the call
Mir CLAY said that If the honorable gentleman
tom Alabama would refer TO the Secretary's Re.
port-hlr. c. had IL not before him at the moment
he would find that the Secretary did recommend a
bank IN express terms. True, he also used the
phrase a fiscal agent, but under those words Mr.. &.
understood hum plainly referring to n bank,
eclally as lac spoke of such agent MS would not be
exposed Ia any objections OF constitutional! char
Hrtur which were urgCu by many gentlemen against
a Bank ui the United States However, he hnd no
n! l-ciiuu tn add 10 the resolution any words that
siIOulI reader II acceptable 10 geniemcH, though hc
had not the shadow ni doubt, tor his own part,
that what the Secretary meant was bank.
Mr.. WOODBURY. quoted from the Report Of
the Scccl.y to show that the Institution referred
tan was one $50 conceived IN principle and guard
cd IN its details as to remove all scruples touching
the question of constitutional power, and thus avoid
Lhc objections which have been urged against those
heretofore created by Congress"
5sNr CLAY submitted TO the worthy Senator from
New hampshire whether all all these objections To
ihc terms at tins resolution were rot somewhat
lIypercrilall What was the resolution? IL simply
called upon the Secretary for the plan Of such "A
bank as that officer Judged best calculated for the
public service the Secretary said that he thought he
had one which would AVOID all constitutional diff
Guilty Very well. He would of course report such
plan, if he had one, IN repiyto the call. The SEN
ate would whether II iuitIed Tint expectation or
not; and w. rs he feared, It would fail of th,. they
could correct and modify tds they pleased and make
~ such US they wished 1t 10 be.
Nir WRIGHT said the resolution on its fee
1s liable 20 two objections: mandatory Va II was an
form il commanded the Secretary TO make report
winch should embrace the plan Of Z bank: this
va. the first objection; and the second was that It
must be sUch bank as would require 10 be InC0r-
poraled by Congress. Under resolution like this,
the Secretary would not be at liberty to report any
plan, even ii he had one which was not plan for
a bank aud for a bank requiring Congresson-
"a. incnrporatiun /, seemed to MIR w. that the call
utkn Senate ought 10 leave him, on these points
iircy at Liberty 10 report what measure he thought
oXpedient.
MIR CALHOUN coEcurrCd in the opinion that
lue resolution ought TO give 20 the Secretary the
largest scope. Why should he he restrained Is.
ppc.aily when the President IN his message had re
CONNER ded the establishment Of n Fiscal agent"
and not a Bank of the United States. To the latter
aswas We, known, there existed strong constitutional
q. eclous. These the Secretary thought he could
ohgiate hya new plan OF his own. Why not, then,
LEI him report n Target II the Senator from Ken
lurky would not consent so far TO enlarge the
terms Of his resolution as 10 embrace this, MIR e..
would move IN amend il, and he hoped the queS.
,irn would he put on the amendment lie would
prepare.
Nj RIVES said that the object Of .ho Senator
rom X CaluCEy, as he understood u, was 30 elicit
irrln the Secretary ol the Treasury Il e rSpOr' of
some plan Ia which that officer had alluded as
PROPOSING hsc,l agent for the Government which
.,Dud obvIltc the constitutional objections which
iiy against Bank OF the United Suites But the
language Of the resolution II now stood was am.
h'guous, because the Secretary in his report had
rpaken not only OF Bank Of the United States nc
cording TO the principles Of that which had hereto
fore existed in the country but also of another form
81 such institution which should obyiate the ohiec
tnns heretofore insisted on. lie referred to tins as
an alternative which might be resoded to.
II the Object OF the honorable Senator from Ken
lucky really was, rs Mr.. r. hoped it was, to obtain
rGrl measure OF COZ pTblt'lst bb WOulu secure
the benefits sought Ivy a National Bank and az the
-lrc time avoid the constitutional difficulties Of ihC
subject, then Mr. Il. entirely and heartily concur
red with HIM, and hc returned 10 that Senator his
lUtdu thanks for so noble, elevated, liberal, and
patriotic purpose. The words of his resolution,
~ they stood, were somewhat ambiguous; but Mr
" was sure he dd not wish them TO Inc so. plan
fra fiscal agent Of the Government which should
ue wholly free f,Om all Constitutional objection,
was lust the plan MIR. r. wished 20 see; bar ms To a
pink VI lie o. ii description, such rs We had had iu
years past there was no need for any recommends
non Of such thing by the Secretary, because d
wnVu matter perfectly familiar 10 the mind Of every
Senator, and with the details Of which every bod
was acquainted. Mr. II. would feel under deep oU-
cation tO the honorable gentleman from Kentucky
I ne would bring the aid OF his powerful, support
900 behalf uC the establishment Of such q fiscal agent
as hc had alluded To- and he hoped he would con.
cent 20 to modhy his resolution as 10 OJyiiic uli
doubt or ambiguity as to ITS import.
Mr CLAY SAID he wished, n gentlemen want,d
any amendment 10 his resolution they would ofFei
rn,: bat, instead Of that they kept on DIRECTING
and no man proposed any thug Ol has own. Mr.
C's object was 10 draw out the plan Of the Sc
rrotsry OF the Treasury; he wanted 10 know
what d, was. Let US see his hand. This W.
aIl he wanici, and all he meant. As 10 th
objection ~ thC gentleman from New York, (N
Wngbt) that the language Of the resolution
.uppuCi command, that was Just what Nj
g. wished, be bod expressly formed u In tIli shape
with 70 Wow to the law OF 1879. Gentlemen nigh
,i0luso fly amendments II they pleased, a.l hi
wanted tp Pot ut was the Sccrctuty's plan.
Nh BUCHANAN siId he was very anxious {,