The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-06-10

bur.s them shall Be pima aeie evidence Of an embez
Sc And s. 4 hufasr enacted. That the Bank
Of the Unitsd States COMMONLY called the Psnnsyi,
ysais Bank Of the United States. and ia branches ana
the local banks and agencies Owned BY H. shall not DC
entrusted with the collection ssfskeeTing OF Trans
Ter or disbursement Of the public moneys or any p4
thereof -
And he asked that the question be divided, and that
a vote be taken on each question By Yeas and nays,
and they were ordered BY the Senate
The item with regard 10 the Bank Of the niisd
State. al Phiiadeiphis having been read,
Mr. CLAY said that he had no hesitation IN deciar-
ing afier all the disclosures thai bad recently been
made that he should deprecaie as much az any gem
tleman could do the employment, Of that bank py me
Government as q depository for the public fnBds lie
had infima,ed the opinion much three years ago
that the Government was cut loose from that instu
non icm the period Of its charter by the State OF
Pennsylvania. But still be could not consent To the
adoption Of such an amendment as that proposed II
the Senate 10 declare iis dissPprobaiion OF inc
management, Of particular bank there were many
others, such as the Owl Greek bank, &C. which mighii
with equal justice, be ncln led in the Remuneration
He did not however, consider IL as COMFORTING WIN
the dignity ofhe Senate TO enter upon any such course
Of discrimination and he hoped the amendment would
not prevail. 80.
hayed very badly bu the Of this hank stock DIS
tingushed from all others, because mad ofig,nait
come into existence under charter from The niled
States and the eyes Of foreigners were 10 peculiar
manner fixed upon IL Mr. b. proceeded 10 speak with
much warmth against the course Of the bank gene
rally, and especially on its bringing upon itself the
last suspension by unterhanded and swndling en-
deasor 10 break the New FORK banks. he accused
IT as having plotted the suspension IN 1881 and as
being in effect the only obstacle to resumption OF
specie payments by all the hanks Of the South They
had recently made effort 10 resume, bat this bank
had instantly run upon them and forced them to re-
turn TO a suspension.
The question being now taken on Mr. cALaous,s
ssiasa3 by yeas g AMI isJf nsy. as follow.
YEAs-Mes1s Allen, Archer. Barrow. Benton,
Berren, Buchanan, Calhoun, Clay, Of Alabama, Full
ton Kerr, King, McRobens, Merrck, Nicholson,
Pierce, Preston Ri,es SEWER Smith, of Connecticut,
Sturgeon, Tappan, Williams, Woodbury., Wright,
Young--25
NAYs-Messn. Bates, Bayard, Choate, Clay, Of
Kentucky, Clayton, Dixon, Evans, Graham Hender-
son, Huntington, Mangum, Miller Morehead, Phelps,
Porter Preniiss, Simmons, Smith, Of Indiana, South
ard, Tallmadge, Walker Whne-22.
So the amendment To the amendment adopted
The question then recurring the amendment as
thus amended, it was decided by yeas and nays, as
follows:
YEAS--Messrs. Allen, Benton, Buchanan, Cal
houn Clay, Of Alabama, Fulton, King, NcRobens'
Nicholson, Pierce, Sewer, Smith, Of Connecticut
Sturgeon. Tappan, White, Williams, Woodbury.
Wright, foung-i9
NAYS --hessrs. Archer, Barrow, Bates, Bayard,
Berren, Cboaie, Clay, Of Kentucky, Clayton, Dixon,
Evans, Graham Henderson Huntington Kerr Man
gum, Merriek, Miller, Morehead, Phelps, Porter,
Prentiss, Preston, Rises Simmons, Smith, OF Indiana,
Souihard TalImadge, Walker, Woodbridge 20.
SO the amendment amended, was rejected
Mr. CLAY said that the effect Of the last vote was,
TO leave the bill in the form in which had been re-
ported lfit should in this form pass both Houses OF
Congress and become law the State Bank system, |
as regulated in 1896 would be revived and continue |
in force until substitute should be adopted by Con-
gress.
Mr. G. took il for granted tina, substitute OF some
description would pass but If unfortunately, Con- /
gress should be unable TO agree upon any substitute,
whether in the form Of bank or other fiscal agent,
then he presumed that Congress would set about dis
charging the duty Of rendering the State bank system
as efficient and perfect possible After the gallant
course pursued by the honorable Senator from Mssis
sppi, Mr.. WALKER Mr. G. considered il as proper /
for bin also, 10 stale that he wosd for that
TEN under no OBSERVATION-DISCLOSURES whaeyer-none
He had ever been opposed TO the plan and would not
have given his vote for the law OF 1896 any other
ground than that that law contained the principle Of
distribution Of the surplus fluid among the States
No. If gentlemen the other side choose 10 put them
selves IN command of such miserable feet he did
care under what Commodore, Mr. &. and HE friends 1
were ready 10 meet them upon any sea- and be doubt
ed not that the encounter would result such
~ as Perry had ache,e ed Of our great lakes or
the brave McDoDough another.
Mr.. CALHOUN would say 10 the Senator from
Kentucky that he was fighting against an ina nsry
bag u he supposed tina, The gentlemen that side Of
The House meant TO contend for the State bank sys-
EN- NO. They intended 10 20 into battle under the
noble flag Of the sub Treasury He was Glad thatthe
senator had been compelled to say that II the sub
Treasury should be repealed the law Of S3G would he
Enforced " that law il stood should in prac.
lice be found impfaclcable the difficulty would fall
:hiefiy IN the South and Southwest
MIR CLA Y said he had never doubted that the law
1886 would revive but, when he had introduced his
ll TO repeal the sub Treasury be had given notice
hat that wa. the first in series, and had ayowed,
openly, his preference for Bank OF he United States
II then, the law Of 1886 did revive 10 lis present FORM
be hoped it would be but for very short time But,
1 otherwise, u must undergo a complete revision.
Mr. BAYAkD admitted the cupabty of the
bank but opposed the amendment unnecessary, be-
cause The law OF 1886 expressly prohibited the Govern
ment from employing any bank which did not pay /
specie.
Mr.. WOODBURY., in reply to this explained the /
construction OF that law by the Treasury Department
w hen that Department had funds 10 depose, and no
bank could be found which CONFIRMED TO the provis
ions OF the law Of 1886 the Department considered IL
self a. thrown back the previous law, and under
that law at liberty 70 place the deposiles in secie-
paying banks What else could il do unless il threw
the money into the streets 7
Mr.. DIXON said he should vote gainst the amend !
ment both because be thought il improper refer to
individual banks and especially because this bank
signed as one cause OF It's suspension the hard treat
JDent of the United Slater Government.
The question being taken, the amendment was re-
jected as follows
YEAs-Messrs. Allen, Archer, Benton Bucha-
nan, Calhoun Clay, Of Ala, Fulton. King, McRo
berts, Nicholson, Pierce, Sewer, Smith OF Conn,
Sturgeon, Tappan, Walker, Williams, Woodbury.,
Wright, Young-20.
NAYS-Messrs Barrow, Bates, Bayard, Berrien,
Choatc, Clay Of Ky, Clayton, Dixon; Evans, Ora
ham, Henderson, Huntington, Kerr, Manguin, Mer-
rick Miller Morebead, Phelps Porter, Prenss, Pres
ton Rives, Simmons, Smith, Of Ind, Southland, Tall
madge, White, Woodbridge-25
Mr.. TALLMAGE objected to that clause Of the
bill which made refusal To pay over money 10 the
order Of the Government prima fdcie evidence Of en-
bezzcment violating The grca, principle Of criminal
law that every man is 70 be held innocent until he il
proved to be guilty II might happen that the in