The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-09-04
IN SENATE.
"WEDNESDAY, Sept. 3, l64l.

of printing for Congress was twice read and referred |
TO the Committee the Library,
The bill from the House to repeal the law authoriz-
ing the investment of funds in State stocks, was
twice read
Mr. SEWER spoke Of the injustice Of the bill, as
tending TO the repeal Of treaties with the Indians with
out their consent, and moved to lay on the table
Mr.. PRESTON appealed to the Senator to with |
draw this motion he disposed to entertain 81
mar opinion of the BILL but thought ii more respect
full to the House to refer it to committee He would
therefore to refer il to the Committee on FL
nance.
After some further conversation |
Mr. CALHOUN moved to lay it on the table, he
thought Il too late in the session to act on bill OF this
magnitude The motion rejected.
Mr. SEWER then moved its reference to the Com |
mittee on Indian Affairs. This motion being lost,
the motion Of MI PREsToN carried, and the bill
referred to the Committee Finance.
MIR. CALHOUN presented the resolutions and |
proceedings of meeting Of citizens of Clarke county,
Virginia, condemnng the measures of the present |
session; reviewing the promises made by the Wing
party previous to the late election, which they de-
cared had been entirely violated and approving of the
veto OF the President on the bank bill.
lie asked that the proceedings be read and ordered
to be printed They were accordingly read, and con-
sisted OF denunciaon and outcry against the measures
OF the Administration.
Mr.. PRESTON hoped they would not be printed.
lie did not think fit to print at the expense of the
Senate this low slang and ordinations and recriml-
natons,-essays Of which character might be pro- |
moved 10 lay the motion TO print on the table
Mr.. BENTON said the gentleman would not gain |
much by that motion, for he had similar paper on
which he would say all that ought to have been said
this
Mr.. CALHOUN appealed to his colleague TO with
draw his motion for moment; which being complied
with he expressed the hope that these resolutions
would be printed as the people had right at all times
10 have their voice heard The resolutions denounced
IN no more violent language the proceedings Of this
body, than many that had been printed, and He knew
not why these should be singled be rejected in
this manner.
pagers, they of respectful character TO the
body, would be printed he opposed at some length
tins endeavor to suppress the expression Of public
opinion lie said the papers he had to present
contained the word veto " among others. he
then went into examination of the veto power,
which he said great conservative power, for the
defence Of the people, and always most popular
measure whenever exercised.
Mr. PRESTON said the memorial had been read,
and received respectful hearing; and where the
right to demand its printing Ii now on the re-
cord Of the country and had probably already been
printed. printing by the Senate would rather i'm
ply appreciation and ne objected to the printing Of such
abid illusions of party spleen and slang which ask
ed for no practical measure, and would accomplish
practical end He referred several expressions Of
an indecent and exceptionabe character and renewed
the motion to lay on the table
The motion carried by yeas &c, nays H. ard
thus the motion to print and the memorial laid the
table.
THE "FIscAL CORPORATION" BILL.
This bill was again taken up the question being on
Mr.. SIMMONS briefly advocated the bill He
said this measure was objected TO the ground that
did not afford proper aciities that it was unconsti-
uional, that the people had never given any expires
sion In favor of it, and that the question connected
with IT, had not been before the people at the late
election. He believed that the question Of an i'm
prosement of the currency had been before the peo-
pie and 1t was decided that some remedy should be |
resprted to. For this purpose, the present measure
had been proposed, and the question which he would
discuss was, whether this proper remedial
sure. He had preferred another form Of bank hav-
ing both the power of discount and exchanges, and
he had not changed his mind in this respect but that
measure had failed ana he believed this was emf |
neny adapted TO the present circumstances. The
people of the country had suffered enough from expe
r,men's on the currency As practical measure,
the enforcement Of the system Of specie currency had
failed; currency must be furnished by institutions
Of the States or the General Government We were
prohibited from making currency for the people for
which the Government responsible; this would give
the Government absolute control the people as
they would have no power to enforce the redemption
Of the issues. From that it had beed argued that the
Government could not create an institution of paper |
currency based on hard money and convertible into
that at the will Of the holders. The only question
was, since the Government were piohibed from Civ
ing the people currency for which it responsible
and since the Sub. Treasury had failed whether the
exchanges of the country should be conducted by in
diyidnals or institutions These institutions were en-
inenily calculated TO relieve the of the business
community from enormous exactions which would
ARISE, were the exchanges carried by individuals
j was truly Republican measure, in the
OF which the whole people might participate
1t was objected to this institution that it would
monopolize the exchanges OF the country an actual
calculation however, would refute this objection and
he demonstrated IL by reference to the business of
changes of his State Ii impossible for human
wisdom devise system better calculated restore
the exchanges and give the People sound currency
than Ivy means of national institution. This mea-
sure was relieved from all objections urged against the
late bill and contained the provisions intended do
precisely the thing, much recommended in the
message returning the other bill deal in exchanges
ms Bank, from It's very constitution was exempt
from all causes to induce to over-radng, and
nous exactlons, to kite-fying," &c What the
motive that impelled banks to this 1t was profit
But the profits were limited, and that to what they
could make IN lair dealing; there motive of
tins KIND to be guarded against and that great
reason why 1t would be safe institution
Mr. BERRIEN said as no one else seemed desi,ous
to offer their views he would proceed TO discharge his
duty, and reply to arguments that had been made
against the bill He wished to relieve himself from
TIE imputation of being chargcabe with having con-
ttlbuted TO any discussion that had arisen on The
views Of the President This bill had not been broupb,
forward, had been said, from any feelings Of hos
tIty to The PRESIDENT but was marked its face
with feelings of respect good WILL and Difference to
ms individual opinions, even where they differed from
our own; it originated in Cancellation, respect and
Difference TO the views Of the chief OF the coordinate
Department of Government He referred to the OBJ
Jertons of the Senators from New York and Penn
ryhania, Messrs. Buchanan and Wright and an
s"ered them seyeraly. He also briefly again advert
~ 10 the constitutional argument in favor of the bill
rs extent and operation not to create currency,
nut regulate one already in existence. A sound cur
rtncy was necessary TO give the benefits
Government ~ as hound In nm