The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-24

mat 5pA l1oa1fiA Nf A1nAeog n31 k1l1occ -
1.uiae pager Le Haerasnad noLbing sbouf q ists<s-
7 h. Sses.san then Put upon he spgesl 'Ashaa
tke seclnoG u fbe Chsss stand lie j1dgussEa y
the H0as< = and wAs ceclcec n the asLrnHsIse by
yeAs izi, bSss 60
M BROWN II Pa moved 70 tsruE he geEris
Mr. BOTTS wishe1 - Ger genera tesoirtiOE
- ercu.~ as shs a-szrea lie eErCsec ffou xoezng
- tia sssedutson Oie1sa A. NOD teipg ar3er-
Tie yeas ssS nsgs @ese densn4e1 upo1 E<s-
rsusllSg hs KeInecy = Fas'csed and sess Yeas g.
Eays lDs
81 M X wEs %, sliO~eS 70 yrooaed
Nr PlcKENS sese and sad Il nHnEfssfs
fssu tie hich have s1en tsLsA thai ths HOuss
esss M iHaeHe - sIr1ss s5s aeDber frsu fotanE-
Ase e5o1gk had haen cone y call Y1hlc ar.enlsan
Lhe resoag.soa psosossd 10 BE saegsse 0e
)-ci OIL have soe1 sstssnsd; and ! sesp11faty s0g-
gsss frleds 20 further 10 lhls yrsce1olng
lCnes q -Agreec, agreed
Tbs qSessao1 ihs nS0Ssa0E a the res0lutiac Sas
tae1 tsAeE and 1eGA1sc liz Affirmative feEs 10
nsss ~.
So TIE res1sutoa ms s6oyseS.
" hrr~DloD the HOase. Hsotlcs of Mr. sEk-
GIANT sgsaa rssess I'd nssd IHLe Counaraee u ths
~ hsls liz ssAss u TIE ULapn, ( AT. D4ws0K, q
6ee~gis ~ lss ChAlf alsd res4se The censaSersiio
u tie ba M IL 70 incorporate the ssbsrrIbers e
lAs Fiscal Ba,k d The UHAee STATES.
Mr. SERGEANT thea esered the smszd1oenis
llclrssed ~ han yesereEss 6rss moving % ssrke oEE
al after tie enscl4nE eAEuse
Mr. SEEGEssI sad MIL say . very Sw words u
regard y the E1seIsS es haze lad the h0r0g 70 ~
isr - the oonms1iet- Bsfose, b0seses, % thai,
rsusa mention three atrbta0s rarsecaa0ns
wtach are requisite propose 70 su-rsc Ia1hsr %
rslfr lie 6rG s.aa9r x he h IL tie itGsd !ass by
sfltlbg O1f one And INSERTING ten - 10 70 make
the nuhsr ~ SHARES eerresgsDc wnh The aza01Ds 81
he cap1sL Ike o1Ae tssrs - aEasLaks
Ar. PlCKEtsS rose and sAss ks ~o1As be giac %
lie lnf0ree ~ Lie Char shBs TIE c00sir0r1a1so
pst Uysa The boar rule reaston "A allowing the
c.aIrInsh a. sEsfe heuI h1crass ts csuiiless "a
BE had sssuksD tauls gesAerdsr-
The CHAIRMAN sad lhaE IL wDcld decade The
pant ben Il ssAogJs srlse
Ar. SERGEANT resumed Ease fsnhw 70
correct lae slKih recllss, Tie egheeE.lh itns o.
ags 3 ~ ssIksng a t5e same isH aDd Inserting
ip tie tweBsy -sec0Id hDe strike eui Three
aid lnssr two Also "a the saase iOe strike
on eEss hancret" and IDs<rg four hEDored and
fas III ADD IL The tseniy fourth and tsenfy -filh
lines stuke oct y 800 90 and lbse1 ~, I'D 10
lie tsenty -saItb slns page IL strike cot four nh
is9ns AID 1't~e nIibcns eight bcE.drsd thCo-
sand.
The eject cf ihese corrections il 70 t4ifg the sum
To - paid by the Coz erninei of tie LnFec States
aud tie shares be bed IN the bank ~ lie Govern
nseni 10 agree With the n1aber Ercpoed the ball -
That Il - say the whole anaount btiog twenty -ooe
nsofas ca paia Which requires two hundred and ted
thousand shares tie II hunaf.d thousand
dollars PER share SEVENTY thousand vii be for the Co
yerDaDeDt and hvDared and fony thousand for
other sgbsenbers The osbef correction ses right the
payment to lie made By the Goy.rGmeni-
viii stale The principal points OF obeftnee
beswe The bll proposed by thess amendments and
the b which recently passed both Houses, bot fallcd
become Law. Tbsy consist 10 the frs place, ~
stated yesterday, Of reduction Of The capital from
thirty, with the ppaef 10 increase 10 my millions
10 twenty millions, with porer 70 Increase 10
thirty five millions Twenty taken, rather tia o
twenty because IL dsirls.e by three, without frac-
tons In the neIt place the corporation proposs TO
te created by this amendment n not 70 dlseV1n or
make Icons. II deal n promissory notes o.
mia nd bills The business Or the institution viii be
restrieted u dealing IN foreign exchanges including
bills drawn State Territory and pay able ia
snoaher Il il IN any 70 deal 10 local dis
counts 10 taking away the power VI local discount
and Authorizing the appointment Of sgeDclrs, and,
" here agencies csnno, be Appointed without inconse-
nience the appointment, with the consent Of the Sc
eretary VI tbe Treasury Of cal banks TO tansact The
business Will be perceived thai local loans and dis
len 70 The State Institutions i be subs-
tuition VI these agencies for offices Of discount and de-
post ia third point Of difference. The change q
/ the title is the remaining These are The main
and important points There are uher and minor dl
feIences OF less portsncefor the most part
resulting from these Leading Objects The object
then Of this bill may be stated generally, u be toes
| tabllsb an insii,viion, by whatever named called
efislient and tie wants Of the People this great
! country under ell circumstances. The first purpose
TO a5op, ii 10 the obvious necessities Of the Gov
ernnsent. la accomplishing this If il be properly
U
fney, AMI 70 produce great | may say, vast and in
caIeusbie benefits to the People well To the Gov
ernmrpt
In this work, il is our plain duty TO proceed with
out delay We have, within few days, repealed
the Sub-treasury; have repealed the deposit act
and We have made provision 10 lieu Of them To
those, then, who may think that action this sub
ect may be avoided at the present tme-that it may
be posiponed-l would now say there is motive for
proceeding at once u make adequate provision
80 powerful, thai il seems impossible should be dis
regarded even for single moment
This b CONSIDER, the fret place, indispensable
immediately a. provision by Congress u the most
urgent cessty for the better collection, keeping, and
disbursement of the revenue.
Mr. SERGEANT then suecinctly gave a history
Of tie effects Of the creation Of the late United States
Bank on The Gscs operations Of the Government and
on the general prosperity Of the people.
After simplifying and Illustrating these subjects he
proeeejcd as ioilohs:
Here, then, two great points grined, security
and accountability; and that too, without expense
end what further is gained A uniform currency
throughout The Y nitsd Staes-by means Of which the
debtor and creditor Of the Government placed
an equal footing throughout the county, from one
end OF II TO The other. Certainly, this is great
advantage also; Bn advantage that you can have 10
no other way. a nd more than this advantage ny
Which the people Of the counlry are furnished wnh
the means ~ ready and very cheap mode Of transfer
uGg 10 where they want II the money they have re
ccsed from the Gasernment and what they have 10
pay 10 the Government While you are securing and
renewing the Government, you are al the same time
saving millions ~ the psople
The pl,n ii this bill adequate to this great pur-
pose Of the Government, 10 the frst place because
The capital is TO De distributed throua bout the different
portions II the United Staier, and because IT placed
la the hands VI an institution which, mInglIBg uself
n the moneyed concerns Of the country, and 10 its
general business ~ enabled thus to do ha, The Gov
ernmrDt by tseIi cannot do, unless you 10 mpau
70 toe Gov fnment powers which are different { on
hose naturally belonging to II, aud opportunities
bich regularly OH, rod To suoh ,nSitotlpo and
come ot ught N other words unless sou clothe
your .Gosernmeut lself with banking lac alties and
MAKE it bank
ain no, desir to refer TO the passage recently