, 1841-08-21
WHOLE NUMBER 440.

ion. even if it was Constitutional.
The Senator from Connecticut Hunting.
toni is most egregiously mistaken in the
matter of fact, when he says the late Bank
had the right to pay out bullion. II had no
such right. The charter will show il had
not, to any one that will read it.
But the senator from Kentucky, (Mr.
Clay and the Senator from Connecticut.
Mr.. Huntington, ask if the Bank may not
sell it as well as buy it, The Senator from
New York, [Mr. Wright, has already given
the proper answer TO this question. He has
shown you that dealing in an article is n
thing, and a right to pay your debts in that
article is quite another thing; and that the
ninth fundamental article OF the character
has given full authority to sell all the bullion
they possess. | will read the article, and
Show thnSA is al they can ask to sstho.> !,
to dispose Of its bullion. This is the article.
9Th said corporation shall not, directly
. or indirectly, deal or trade IN any thing ex-
g cept bills Of exchange, gold or silver coin,
" or bullion, or goods, or lands purchased OF
g execution, or taken bona fda in payment Of
I" debts. or goods which shall be the proceeds
d" Of its lands. 1t shall not be at liberty to
g purchase any public debt whatever, nor
g shall it take more than at the rate Of six
e" per mum for or upon its loans or dis
90 counts"
Mr.. B. continued. This section gives the
Bank all the power it can wish over its bull
lion, and all that is asked by the Senators
who oppose my motion. The article gives
them n right TO deal and trade in bullion.
This gives as much right TO sell as to buy,
and if the contrary is maintained, if it is still
insisted that authority must be given to pay out
in order to enable them to dispose Of 1t, then
1t will be necessary to enable them to dis
pose of their lands, houses, goods, stocks,
&c, that authority should also be given them
to pay out Of these goods and lands IN dis
charge of their debts.
But enough. The thing is wrong. This
authority, in this new Bank, to pay out bull
lion. is unconstitutional, unprecedented, and
preposterous. 1t should be stricken out from
the bill; and ] demand the yeas and nays on
my motion.
Mr.. White called the attention of the
Senator from Missouri to another portion Of
the bill in which the Bank was required to
redeem its notes in "gold and silver" He
suggested the propriety of inserting the
word ''coin" after the words gold and silver.
Mr.. Benton thanked the Senator from In
diana for his suggestion, and made the no.
ton TO insert coin, which was agreed to.
The question was then taken on the mo-
ton 10 strik out "bullion," and it was agreed
&c. nays 81, as follws:
Yeas-Messrs Allen, Bates, Bayard, Ben
ton, Buchanan, Calhoun, Choate, Clay Of
Alabama. Cuthbert, Fulton, King, Linn,
McRoberts, Mouton, Nicholson, Pierce, Sc
vier Smith Of Connecticut, Sturgeon, Tappan,
Walker, White, Williams, Woodbury., Wright
and Young-26.
Nays-Messrs. Berrien, Clay Of Kentucky,
Clayton, Dixon, Evans, Graham, Hender-
son, Huntington, Ker, Mangum, Miller,
Morehead. Phelps. Porter, Prentiss, Preston,
Simmons. Smith of Indiana, Southland, Tall
mage, Woodbridc-2I.
So the word bullion was stricken out.