Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1841-08-14
MONDAY, August ,, lS4l.

The following report Of the proceedings in the
House On Monday, presents d sketch OF the de-
bate the Fiscal RanL, Bill:
Fiscal BANK.-Mr- Sergeant moved that the
House esJIve itself Into Committee OF the whole
On tho state of The Union, for the purpose of Ia
king up Senate bill, No. >, commonly called the
Bank BIZ
After some conversation, the motion of Mr. :.
being agreed to
The House rcsolv cd itself toto Committee Of
the Whole the Of the Union, Mr.. john
G.. Clark, Of New York, III the chair.
Mr.. Sergeant moved that the committee take
up tho bill 10 incorporate the subscribers to The
Fiscal Bank of the United States.
Mr.. Roosevelt moved that the crmmittee pro-
eeed to the consideration of the Senate bill to
establish uniform system of bankruptcy through
out the United States.
Mr.. Stanley inquired if that bill had been
printed?
The Clerk replied tina, it had not yet been
printed.
Mr. Stanley said The IInnsc had refused this
session to take up bills that had 10, been PRINT
ed.
Mr.. Roosevelt then moved that the committee
take up the Bankrupt Bill, heretofore reported
from the committee on thcJ Judiciary.
Some cow ersaton followed.
Alter which, the question on the motion Of Mr..
Sergeant, was put, and decided in The ailirma-
tive.
Mr.. Roosevelt said he perceived i, was the IN
~ lA''SO
the cosby. Laughter
The committee proceeded to the consideration
of the bill to Incorporate the subscribers 10 the
Fiscal Bank of the Uaited States.
The bill read ,hrough after which, it was
taken up by sections.
And the first section having been read, and
the question being on he adoption thereof
Mr.. Sergeant, chairman of the committee on
the Currency, vino had reported he bill, took the
floor with the purpose of supporting the general
measure, far the limited time allowed him BY
the rue should permit lie said that the objects Of
the present called session of Congress were well
understood by the People of the United States );
and, as there time to spare going into
an enumeration OF ihem he should content him
self by saying that they might all be comprehen-
ded IN this, viz. to put the affairs o. the Union in
order. The House, thus far, had fulfilled the ex-
pectatons Of the Public and performed its duty
II had now arrived IN due course at measure
much looked to, of vast Importance, and which be
considered Iudis pensabIy necessary to the adj
mlnistration of tho Constitution itself. He could
not now enter into proofs; but he would say that
the Constitution never had worked right, nor, IN
his opinion ever would, without such machine
as this bill contemplated again 10 Introduce into
the Government, and thereby to render It's great
plan complete. When this bill should have been
disposed Of, there would then remain though he
hoped, not long) the sub-Treasury bill and the
Bankrupt bill TO complete the enumeration which
had been made of the principal measures which
ought TO occupy the attention Of Congress a, the
present extra session.
Mr.. 5. stated his present ohjec, to be 10 remove
doubts and difficulties, If any existed IN the minds
Of members of the House. lie should not go in
to the constitutional questionable mean, upon
original grounds. His position would be, that
that question was settled, and his main en-
deavor would be 10 show this.
Alter arguing this point at some length, show
ing how the question Of consti;utionaltv had been
settled afrmativelv by ali the powers of the GO
vernment, he contendcd. using the words of Mr..
Madison, that "the question Of the constitutional
authority at the Legislature to establish Incor-
porated Bank, was waived. ''Gs being PREcLU-
DED, IN 1ay judgment, by repeated recognttons,
under varied circumstances. of The validity Of
such an institution, IN acts Of the Legislative.
Executive, and Judicial branches Of the Govern
ment. accompanied by indications IN different
modes Of concurrence of the general viii Of The
nation :.
Mr.. 5 further advertci 10 tie fact that. when
Mr.. Madison used this language, the Judicial de-
cisIons by the Sypremc Court had not been given.
{ Tor they not made till iSl9.) and asked. /
how much stronger woaiI his language have been I
had those decisions been before him How could /
that be unconstitutional which the tribunal de-