Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-06-12
CONGRESS or THE UNITED STATES
TuEspAr, June :, ISL.
IN SENATE.

Legislature OF New DIRK, IN relation 10 the uspo-
sltion Of the public lands.
BY Mr.. BUCHANAN: From Ed. L'iiel, pro-
posing plan OF National Bank.
MIR. b. said the memorislist had paid much at.
,ention TO the study of finance, and that the paper
was well written; and although he (Mr. b. did not
agree with the writer in his views, yet he thought
there was much in the plan worthy OF considcra-
ton lie might well move to have it printed and
let It 90 TO the select committee.
Mr. BENTON objected TO the printing. There
would bc so many persons giving us their projects
and plans, that would be delighted with the idea OF
having their views preserved anon; the archives
orthe country. Leaving MIR. Littc entirely out OF
the question IN this matter, he should vote against
the printing ofany Of these plans.
Mr.. BUCHANAN Withdrew the proposition TO
print.
information which, after Undergoing some modlhca-
tons were adopted; such making the call through
the Secretary OF the Treasury, &c.
The following resolution, submitted some days
since by Mr.. Sewer, of Arkansas, was then taken
up and read:
Resolved, That the President ofthe United States
be requested to inform the Senate why General Mat
thew Arbuckle has been removed from his COM
mand at Fort Gibson, west OF Arkansas, 10 Baton
Rogue, in louisiana, where there are no United
States troops.
And the question being on its adoption,
Mir. PRESTON spoke in opposition, insisting
that it was unfit and inexpedient for Congress call
on the commander in chief for the reasons ofevery
military order given by him IN relation to the details
of the Army. Il was not proper or competent for
n legislative branch Of the Government thus TO in
tcrfcrc with what pertained to the Department Of
War in the location of different officers according
10 its view Of the exisenccs OF the public service.
Mr.. SEWER repIied-but before any vote was
taken, the order OF the day was called for.
The resolution reported by Mr.. Bayard from
Et
the presiding officers Of both Houses be shrouded in
mourning, was read third lime and passed.
Mr.. CLAY moved the printing OF 900 addi-
tonal copies Of the repor; OF the Secretiry of the
Treasury on the state Of the finances.
Mr.. WOODBURY. wished Mr.. c. 10 delay this
motion for the present, as he wanted TO make some
remarks upon that paper
Mr.. CLAY wished he would take some other
opportunity, and would, in the meanwhile, suffer
the order TO print TO be adopted by the Senate.
Mr.. WOODBURY. SAID that he considered the
motion TO print presenting a very appropriate &C.
clson for the offering OF remarks upon the docu.
ment.
Mr.CLAY. We will afford the honorable Sena-
tor fifty occasions if he wishes them.
After some further conversation
Mr. CLAY said he would not press his motion
to- day.
Mr.. RlVES adverting to n desire expressed by
MIR. Buchanan some days since for further time 10
examine the question Of international law involved
in the correspondence between the Secretary Of
State and Mr.. Fox, said that It had been his desire
10 call up the motion TO print that correspondence
to-day, bu: not wishing to interfere with the order
of the day, he now gave notice that he should call
II up on the earliest opportunity tomorrow.
The Senate then passed to the order Of the day,
which was the bill TO
REPEAL THE SUB-TREASURY.
And the question being on the following amend.
ment moved by Mr.. Calhoun:
Thst so much of the 5th section Of the act OF 23i
June, 1886 as provides that no bank shall be Sc.
lected or continued a place Of deposite OF the
public money, which shall, after the 4th OF July,
$50, issue or pay out any note hill of less de-
than s.; ana that no notes or bills OF
any bank be received in payment OF any debt due
10 the United States which shall after the said 4th
Of July, 1886, issue any note or bill. OF less demo.
mination than IS, be, and the same is hereby, re-
pealei.
rs an amendment to the following moved by MIR.
Clay:
find bsh further enacted, That all OF the act en-
tiled IAN act to regulate the deposites OF the pub.
&c money! which passed on the 23d June, 1886,
Except the 18Th and 18th sections thereof and the
let supplementary thereto approved 4th July, 1886,
entitled "An act supplementary TO act TO regulate
he depos,es OF the public money" passed 23d June
S3s, be and the same are hereby repeaed: Pro-
'idsd That this repeal shall not affect impair any
securities which may have been taken for the safe
keeping o; tic public moneys deposited with any of
the banks in the said mentioned, nor any rene
dies to enforce the said securities which have BEEN
Or may hereafter be, prosecuted.
Mr. BERRIEN rose 10 speak to the amendment
The Senate having adjourned on his motion yester-
day, he would now briefly submit an explanation OF
Inc motives which had induced him TO make that
motion. lie had not felt entirely satisfied either
with the amendment at first moved by the Senator
from Kentucky, mir CayO or the substitute for
yaH NrvT l1a
Carolina, (Mr Calhoun.) They presented to him
these alternatives: If the amendment moved by MIR
Clay should prevail, and the deposite act OF 1886
should thereby be repealed, the country would he
thrown back on the original law passed IN l7S5, cs-
llblishing the Treasury Department. which directed
that the public money should be kept by q Treasu-
rGr OF the United States; and also upon the resou-
tion Of 1916, which declared in what meIium the
public dues were receivable. with this result Mr.
H. was not satisfied; the practical effect Of II would
be this: Under the general direction 10 the Treasu-
Tcr TO keep the public moneys, that officer would
adopt one Of two cOursts-ether he would avail
himself Of the depository under the existing law
which stripped the Sub Treasury Of its agents and
o rs specie requirements, or he would exercise an
unlimited discretion I'm selecting the banks which
should receive and retain the public funds in their
possession, In other words, the entire amount Of
the public treasure would be placed at the absolute
discretion OF an Executive officer. As Mr. u. him
self and all those with whom he acted had protest.
Cd against and opposed with all earnestness such a
state Of things, he could not acquiesce in an amend
mcnt which went TO bring IL back on the country.
The amendment OF the Senator from South Caro-
lima lMr CaIhouu) contemplated, not the repeal,
but the preservation and the continuance of the act
OF ls5G-dTycsting u, however, Of the disabilities
created by the fifth section, which forbade the Sec.
rotary TO make any deposIiCs Of public money in
banks issuing bills below the denomination Of five
dollars, or IN banks not rCdCCming their notes on
demand in specie. This amendment would have
left the country under the operation Of the net OF
} $50, 10 modified shape. Now, Mr. 3. hgd been
dosisous TO examine this law, and ascertain whether
IN the changed condition Of the country since the
dito OF us passage, It would be possible to give it
practical operation, provided no bank or other fs.
ca agent should be established by Congress az its
present session. II had been suggested that diff.
Guilty arose in this respect from the large number Of
banks which were in state Of suspension, although
on the other hand, IL had been stated that MANY
banks IN different parts Of the country still continued
Specie payments, and might be used as repositories
under the provisions Of that law, and that these
were situated At those important commercial uoIrts
where the collection and disbursement Of the public
revenue chiefly took place.
Mr. b. was not contontcd with founding ON these
deliberate act Of legislation; and
on examining the ow for himself he found 10 ii
provision calculated 10 remove the difficulty which
was alleged 10 exist on this scorc for the first sec.
ton Of the law declared that f the Secretary Of the
Treasury could not find, wi,hIna given district Of
country, specie paying bank issuing no bills under
i've dollars, he might resort 10 some other district
where such bank did exist, and might make ar
Engagements with IL TO establish branch or office i
On district where he wanted 10 make his doposife
oni might use such Office as his depository. This
met and removed the objection, and the country
would then be left under the act Of 1886 so far mod
sung small notes
II would, however, in % probsbi.itv he pnnsc...