Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-24
THE BANK--FOREIGNERS EN-
CLUDED,

NLODCD.
The proceedings of the Senate of the
United States, which we copy from the
National Intelligencer of the 3Oth ultimo,
may be regarded. we presume, as the sense
of that body, against granting any part OF
the stock of the proposed bank to foreign
erS--whether resident abroad or sojourning
here. The remark of Mr.. Clay, that che
considered the whole subject as sacrifice
TO demagogueism and prejudice" does not
seem to us as very respectful, or very
well calculated to propitiate those who
have been as patriotic and as conscientious
in their Aversion to partnership with the
Lords and Ladies of England" as he or
others may be in their views to the con-
trary-and we might retort "hard words"
by enquiring whether it be possible that
his vote upon the proposition of his col
league tGov. MoREHEAD) and his vote di-
rectly afterwards, on the main question, can
stand together? According to his own de-
clarations, his first vote was in opposition
to the demagogues and prejudices of the
age, and his second one in obedience to
botM
We copy so much of the proceedings
as are material to the sense of the whole
as follows:
'The Senate then proceeded to the discussion Of
the special order being the bill to incorporate the
subscribers to the Fiscal Bank of the United
States.
Mr.. HENDERSON moved to amend the 10th
section so as to exclude from the purchase of stock
all persons other than citizens of the United States
or aliens resident therein, and to oblige all corpora
tions or companies to belong to the several States
or Territories
/ [After argument by Mr.. BENTON, Mr., HENDER.
SON, Mr.. PRESTON and Mr.. CALHOUN
Mr.. MANGUM spoke for some time. He was
in favor of the amendment of Mr.. Henderson with
some slight modification. He regarded the views
taken by Mr.. Preston as in accordance with sound
principles of political economy; our whole history
was full of the advantages that had derived from
the introduction of foreign capital; but he did not
admit that in this case foreign capital would be
quired. We had ample capital at home seeking in
vestment and when such advantages were held out
he was for giving the profits to the American CAPT.
talist. We had ever been represented as seeking
to draw capital from foreign countries, that we
might treat it mala fde; he would not put US in
the attitude of seeking foreign capital He should,
therefore, move to amend the amendment by striS-
ing ont "alien residents" and that he asked the
yeas and nays
Mr.. HENDERSON was understood to say that
he felt bound to accept the amendment as modif-
cation; and the call for the yeas and nays with
drawn.
Mr.. WALKER spoke with much warmth, and
,l,., tho, s.- o,1o Sc A. -.
general, and insisted that such bank would be at
tended with the worst possible results to the
try. He went into the history of the debts of the
States, and asked what we had got for Two hun
dred millions of debt, not an eighth of which had
been received in specie? But suppose it had been,
where was it! 1t might as well, every dollar Of it,
| have been thrown into the sea.
Mr. SMITH of Indiana, spoke for some time in
reply to various remarks that had fallen from the
Sena tors of the other side. They had now become
so exclusively American that they would neither
permit aliens to hold stock nor vote by proxy. But
the same gentlemen say we have right to protect
American industry. The evils, they maintain,
grow out of the introduction of foreign goods, but
the moment (said Mr.. S. we make the attempt to
resist their importation, they oppose it and raise the
cry of "high tariff" They object to the duties,
though they say the goods the cause of all the
evil. When the tariff question came up, he hoped
to hear expressed the same American feelings that
had been heard there to-day.
Messrs. ALLEN, and HUNTINGTON, and
i WOODBURY. also spoke on the amendment.
Mr.. MOREHEAD here moved to reinstate the
original amendment of Mr.. Henderson to include
president aliens in the privilege, and on this he
asked the yeas and nays.
\ Mr.. CLAY said lie considered the whole subject
as a sacrifice to demagogusm and prejudice.
Mr.. BERRIEN gave the reasons that would actu-
ate him in his vote.
The question was here taken On Mr.. Morehead's
motion, and resulted as follows
YEAS-Messrs. Archer, Barrow. Bates, Bayard,
Choate Clay, of Ky, Clayton, Dixon, Evans, Hun
tington, Kerr, Merrick, Miller Morehead, Phelps
Porter, Prentiss, Preston, Rives, Simmons, Smith,
of Iudiana, Talmadge, White, Woodbridge-24.
NAYS-Messrs. Allen, Benton, Berrien, Buch-
anan, Calhoun, Clay, of Ala, Cuthbert Fulton
Graham, Henderson, King, Linn, Mangurn, Mou.
ton, Nicholson, Pierce, Sewer, Smith, of Conn,
Sturgeon, Tappan, Walker, Williams, Wright
Woodbury., Young-25.
Mr.. BENTON said if the corporations were per-
mitted to take the stock they would take the whole,
even if the capital should be fifty millions.
Mr.. ALLEN moved to strike out corporations
and companies.
Mr.. BUCHANAN suggested to his friend Mr..
ALLEN not to press his motion, but to wait until
t the question taken on the amendment Of Mr..
) Henderson, which he meant to sustain on the old
and vulgar principle, "half loaf was better than
no bread"
The question was then taken on the amendment
OF Mr.. Henderson, and resulted as follows:
YEAS-Messrs. Allen, Archer, Bayard, Benton,
Berrien, Buchanan, Calhoun, Clay Of Alabama, Clay
Of Kentucky, Cuthbert, Fulton, Graham, Hender-
son, King, Linn, Mangum, Morehead, Mouton
Nicholson, Pierce, Prentiss, Rives, Sewer Sim
/ mons, Smith of Connecticut, Sturgeon, Tappan
i Walker, Williams Woodbridge WRIGHT Wood