Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1841-07-31
From the Baltimore american.
Twenty-Sevcnth Congress.
WAsnINGTON, July G6, IS4l.
UNITED STATES SENATE.

FlSCAL BANh.
There being no other morning business, the Bill
TO incorporate Fiscal Bank of the United States
was called up. The amendments considered in
committee next considered for concurrence
in the Senate. Amendments were proposed to the
amendments adopted in committee, by Mr.. CLAY
of Ky. They were unimportant and generally con-
Cured in. The amendments prohibiting "the off,
and directors of the Cooperation, any office
ofdscount and deposite thereof, from loaning mon
ey contracting any debt in the Bank in any man
ner whatever" discussed with some earnestness
by Mr.. CLAY of Ky. and Mr.. WALKER of Miss.
The amendment also proposed that no note or bill
of which such officer or director any member of
Congress is maker, drawer, endorser, acceptor, or
otherwise party, shall be discounted. Mr.. CLAY
considered the prohibition an unjust one, and an
unnecessary one. 1t was neither the practice of
safe banking nor necessary to safe banking. Mr..
WALKER argued otherwise, and contended that
past experience proved its necessity-especially in
the practice Of the Pennsylvania U. S. Bank. Mr..
HUNTINGTON said the amendment was pro.
hibton to members of Congress and to all officers
of the Bank, excep, with the latter to the amount
of 10000 Was this prohibition just Why
should this class of citizens be prescribed Why
should not member of Congress be allowed to buy
b IL of Exchange of the u. States Bank to send
to his family if he thought properl Why might he
not endorse note or ask for discount? Were
not members of Congress as honorable and possess
ed of as much probity as their fellow citizens.
Mr.. CLAY Of Ala. advocated the amendment as
it stood in the Bill and was for prohibiting MEM
bers of Congress from being borrowers and Direc-
tors also-It was inviting corruption of the most
/ damning character to resist such amendment.
/ Had the Us Bank been thus controlled and 9TH
er Institutions of the sort, the government Would
have been now greatly benefited. Mr., Clay was
surprised that the members Of Congress should be
prohibited from discounts.
Mr.. LINN, Nc. advocated the same amendment,
and thought the majority would gladly accept of ev
cry amendment which had been proposed by the
minority. He reced the Bank of France as an
example worthy of imitation The Bank of France
loaned its money TO small traders, which were much
saier borrowers Tan those who borrowed mllions1
he Proposition to fence up the Directory TO give
publicity to the action of the Bank was also one Of
the safest principles of action here.
The vote was then taken upon the FIRST branch Of
the amendment, relating to the limit upon the Di-
rectors of the Bank The yeas and nays were cal'
led and the Nsull was, ayes %, noes 25.
The neat amendment related 10 members OF Con-
gress.
Mr. CLAY ofKy. opposed it, Ifthis Bank char
ter were like other Bank charters there would bc
some reason for the amendment, but it was not.
Mr.. Clay illustrated the injustice of this amendment,
At his residence he sen, forth piece of paper al
endOrser, or drawer, OF acceptor. THIS was taken