Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-06-15
The question being now taken on Mr.. calhouns

bcrts, Merck, Nicholson, Pierce Preston Rxes seS' sh
Connecticut, Sturgeon Tappan, Williams Woodbury. Wright
fonns-& ,,
ton, Dixon, Evans, Graham. henderson, huntington Mangnm
Miller, Moehead Phelps, Porter Prenss Summons smith oil
Indiana, Southland, Taimadge Walker, White a,.a
So the amendment to the amendment was adopted
The question then recurring on the amendment as
thus amended it decided BY yeas and nays, as foi
lows: 80
Fulton King McRoberts Nicholson Pierce, Sewer, smith Of
Conn., SURGEON Tappan, White, Williams, Woodbury. WRIGHT
Nass-Messrs Archer Barrow Bates Eayad Been, c%a.,,
Clay of k CLAYTON pon Evans GIan are"ad Phelps P"r
ter, Prentiss, Preston, Rives Smnlons' s"''" VI '
Tallmadge Walker, Woodbridge. ;.a
So the amendment, as amended, was reJecteu'
MIR CLAY said that the effect of the last vote was,
10 leave the bill in the form in which 1t had been re-
ported If it should in this form pass both houses OF
CONGRESS- and become a law, the State bank system,
as regulated in 1896, would be revived and continue
in force until substitute should be adopted by Con-
gress.
Mr. C. took it for granted that substitute OF some
description would pass but it, unfortunately Congress
should be unable to agree upon any substitute, whenef
in the form of bank other fiscal agent then ne
presumed that Congress would set about dschargng
the duty Of rendering the State bank system as ell
cent and perfect possible After the gallant course
pursued by the honorable Senator from MISSISSIPPI
iNr Waker) Mr.. C. considered It as proper Tor hun,
also TO state that he would for that system under
no OBSERVATION-DISCLOSURES whatever-none. tie had
ever been opposed to the plan, and would not nave
given his vote for the law of 1886 any other ground
than that that law contained the principle OF dstr
button of the surplus fund among the States NO, II
gentlemen the other side choose 10 put themselves
IN command Of such miserable fleet, he did not care
under what Commodore, Mr. &. and his TRENDS were
ready to meet them upon any sea, ana lie douoeo ho
that the encounter would result in such victory as
Perry had achieved OF our great lakes, o. Tue
brave McDonough on another.
Mr.. CALHOUN would say to the Senator rom
Kentucky that he was fighting against an imaginary
flag if he supposed that the gentlemen OIL that sioe OF
the House meant contend for the Stpte bank system
No They intended 60 into battle under the noble
flag of the Sub Treasury He was glad that the soma
tor had been compelled to say that 1t the Suo-lreasury
should be repealed the law Of 1896 would be enforced
If that law stood should IN practice be found
impractcable the difficulty would TALL CHIEFLY on the
South and Southwest
MIR. CLAY said he had never doubted that the law
Of 1886 would revive but, whenle had introduced his
bill to repeal the ubTreasury, he had given notice
that that was the first in series, and had avowed
openly, his preference for Bank Of the u s. IT. them
the law Of 1886 did revive in It's present torm ne hoped
it would be but for very short time But, IT other
wise, it must undergo complete revision.
Mr.. YOUNG, OF Illinois, proposed TO amend ihe
bill first by inserting the words elect or before the
word "refuse" in the clause making refusal TO pay
over public moneys TO the order Of Government PTima
faeie evidence Of embezzlemen which amendment was
accepted by Mr. Clay and, adopted by the Senate and
in the second place further to amend the bill IN such
VI
ment, previous TO his refusal pay public money,
should put his property out of his hands by ussgn-
ment or other conveyance act should be pronounc
ed felony and subject him 10 all the penalties OF en-
bezzlement.
MIR. CLAY said he could not agree TO this amend
ment He thought it pushed the penal principle IA
Their too far To declare the fraudulent conveyance
of property felony going beyond any law with
which he acquainted, and there might besides,
be many where the fact of conveyance was
doubtful.
Mr. YOUNG observed that the case was one OF very
frequent occurrence, at least in the West, and some
punishment ought TO be provided for it. 1t gentle
men would not declare it felony, would they consent
that it should be held conspiracy to defraud the
States:
Mr.. HUNTINGTON admitted that it was very
desirable TO prevent such frauds but the courts were
open and he thought would provide sufficient re-
medy At all events, ne could not consent 10 declare
fraudulent conveyance felony
The amendment rejected
MIR BENTON moved the following amendments:
lind prorided further, That the following section
and parts said bill shall be excepted from tins repeal
and shall remain and continue in force TO vat Sec
tons 10 and 90 section 81 section 25 section and so
much of the 18th section as makes IT felony IN aus
bursting officers aud persons connected with the fost
Office Department 10 use .te public money for their
other purposes; and neglect or refusal TO pay
over public moneys demand TO transfer or dsburse
them shall be prima ae evidence Of an embezzement
Of the
Sec. lind be it further enacted That the Bank
of the United States, commonly called the Pennsyi
vania Bank of the United States, and its branches and
the local Banks aud agencies owned by il, shall not be
entrusted with the collection safe keeping or trans.
fer or disbursement of the public moneys or any part
thereof
And he asked that the question be divided and that
vote be taken each question BY yeas and nays, and
they were ordered by the Senate.
The item with regard TO the Bank of the United
States at Philadelphia having been read,
Mr.. CLAY said that he had no hesitation IN declar-
ing, after all the disclosures that had recently been
made that he should deprecate much as any gentle
man could do the employment CT that Bank, by the
Government depository for the public funds lie
had ntmated the opinion, much as three years ago,
that the Government cut loose from that institu.
ton from the period of its charter, by the State OF
Pennsylvania But still he could not consent TO the
adoption Of such amendment as that proposed II
the Senate TO declare its disapprobatlon OF the
management of a particular Bank, there were many
Others such the Owl Creek Bank, &c, which night,
with equal justice, be included in the Remuneration.
He did not, however, consider it COMFORTING with
the dignity of the Senate to enter upon any such
course Of discrimination, and he hoped the amendment
would not prevail.
Mr.. BENTON admitted that other Banks had he
hayed very badly but the of this Bank stood dis
tinuushed from all others, because it had originally
come into existence under charter irsm the United
States and the eyes of foreigners were, in peculiar
manner fixed upon it. Mr.. b. proceeded to speak
generally and especially its bringing upon itself the
last suspension by undetermined and swndling en-
deavor to break the New York Banks. He accused It
ms having plotted the in 1887, and being
in effect the only obstacle to resumption of specie
payments by all the Banks Of the South They had
recently made effort to RESUME, but this Bank had
instantly upon them and forced them TO return to
q suspension.
Mr. BAYARD admitted the culpability Of the Bank,
but opposed the amendment unnecessary, because
the law Of 1886 expressly prohibited the Government
from employing any Bank which did not pay specie.
Mr. WOODBURY., in reply 10 this, explained the
construction of that law by the Treasury Department
When that Department had funds 10 deposite, and no
Bank could be found which conformed the provisions
of the law of 1886, the Department considered itself
as thrown back the previous law, and under that
law n, liberty place the deposites in specie pay,
ng Banks. What else could it do, unless it threw the
money INTO the streets
Mr. DIXON said he should vote against the amend
ment both because he thought it improper to refer to
individual Banks, and especially because this Bank
assigned as of its suspension the hard treat
-, IL