The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-07-17
Tmemtp=Sebenth Congress.
FIRST SESSION
in SENATE,

.- ..... a-. SATURDAY, July TO- lS4l
The PRESIDENT laid before the Senate a mes
sage from the President of the United States
pliance with resolution showing the progress under
the commission for the settlement of affairs with
Mexico. .t. 49,. .'... .". g..
After some remarks from Mr.. LINN and Mr..
PRESTON, it was referred to the Committee on For
eign Relations.
Mr.. CLAY presented petition from number of
citizens of Barbour county, Alabama, stating the
grievances they, with other citizens labor
under in consequence of the suspension by the banks
that their business greatly embarrassed by the de-
rangement of the exchanges, which ranged from fif-
teen to twenty per cent between there and Augusta
and Savannah, in Georgia. Mr.. O. said he presented
the petition with pleasure, in hope that the evil com
planned of would be cured and he moved that it
be laid on the table and printed; which was agreed
Mr.. PRESTON presented memorial from citizens
of Brooklyn, New York, praying the establishment
of a bankrupt law.
by persons of that place. designating their several
cations in life. Why he had been selected to make
the presentation he could not tell not having any
knowledge personally ofthe memoriasts. With regard
his sanction and if he gave his support to any mea-
sure of the kind it must be one that would be within
the scope of the Constitution and regarding alike the
rights of the creditor and the debtor.
Mr.. TALLMADGE presented two memorials from
citizens of New York, in favor of bankrupt law.
Mr.. WOODBRIDGE presented memorial in ia
vor ola National Bank. .....
The Senate then proceeded to the discussion of the
resolution submitted by Mr.. BUCHANAN, calling for
the names Of persons removed from Office since the
4th of March last. #@ 3I.... y ..@~.."' .' E
Mr.LINN being entitled to the floor, said he was
very unfortunate in having only few minutes to adj
dress the Senate each morning he would greatly pre-
fer to have had an hour to devote TO il Senator
Never mind, give it 10 broken doses] Really
the subject had grown 30 cold that he hardly knew
haI ar n. -lutW WA anch an n
of incongruities he could plunge in any where and
catch something. In one dive he might bring up to
the surface an aboltionis and State Rights Wing at
another plunge he could bring up Washington Be-
nevolent Society, peace party In war, and war
party in peace; in short, there could be difficulty
in placing in juxtaposition the widest extremes. He
said the Wing party had not only cheated the Der
cracy out of power but had absolutely cheated them
despised the name they had stolen. He had often
heard them in private circles contempt for the
democracy. This party had not only been false to
Others but untrue to itself In the defeats it had
sustained, it became broken and dispirited, and
held together by the energy of one man. Yet what
did it do He would read a letter which had fallen
into his hands, evidence of their want of graft
tude to the man from whose indomable spirit they
indebted almost for their very existence par
ty. Here Mr.. LINN read letter which had been
confidently circulated little while before the nomi
nation in Harrisburg, giving reasons why Mr.. CLAY
ought not to be nominated &c The morning hour
having expired, Mr. LINN gave way.
The Senate then proceeded to the discussion of the
special ORDER being the bill to incorporate the subscr
bers to the Fiscal Bank of the United States.
Mr. WOODBURY. moved to amend the bill by
inserting provso, prohibiting directors or stockhol
ders from making any donations.
Mr.. CLAY presumed the Senator from N. Hamp-
shire had in view some exercise OF his grautous
power in the late bank. There was no objection 10
the amendment, only that it went little too far He
could conceive of many where the exercise of
such power might be beneficial He asked if gen.
temen prepared to create corporation, and de.
prive it of vitality, in short, making it what Lord
Coke, designated corporation, body without soul
He would move to amend as to prohibit donations
being made to officers Of the banks.
Mr.. WOODBURY. avowed his object to be that
directors should not apply the funds of Government to
the stockholders to officers of the bank There might
be call for the exercise of this power but
cry such should be laid before the stockholders
and he would not allow the directors to act
MIR. CLAY said it was impossible to conceive of
all the in human life where there might bealls
for the exercise of this power An officer of the in
sttution, for instance, with large family, might acc
dentaly be killed in his very endeavors to save the
building from hire, and yet according to the provision
of the Senator from New Hampshire, enough to save
his family from starvation could not be granted until
the annual meeting of the stockholders. There were
many other cases which might be cited show the ne
cessity ofeaving the power where it WIS., only prohb-
ting donations to officers Of the institution.
Mr.. WOODBURY. would ask if the end of the
Treasury should fall down and kill every man. would
the officers have right to put their hands into the
Treasury to relieve the families of persons so killed.
1t was very well to be charitable with our own money
but not with that belonging to the people. He was
unwilling 10 have tie public Treasury ut under the
surveillance of the directors or stockholders
Mr.. HENDERSON would vote for the amendment
the amendment but then he should vote against the
whole. He held that the stock holders had no RIGHT
under any circumstances, to give away the funds of
the institution.
Mr. LINN desired to reach the evil efCctually II
well known that donations had been made for in
ternal improvements, and for many other things by
the late Bank. There might be where directors
and stockholders would be justified; but if you gave
them at ALL it was certain to into abuse, partcu-
arlv where Bank was concerned. ...
The question then taken on Mr.. Clays amend
ment to the amendment, and resulted as fellows
YEAS-Messrs. Archer, Barrow, Bates, Bayard,
Choate, Clay, Of Kentucky, Clayton, Dixon, Evans,
Henderson, Huntington, Kerr, Mangum, Merrick
Miller, Morehead, Phelps, Porter Prentss, Preston,
Rves, Simmons, Smith, of Indiana, Tallmadge,
White, Woodbrdge-26.
NAYS-Messrs Allen, Benton, Calhoun, Clay,
of Alabama, Cuthbert, Fulton, King, Linn, McRob-
ers, Mouton, Nicholson, Pierce, Sewer, Smith, Of
Connecticut, Sturgeon, Tappan, Walker, Williams,
Woodbury., Wright, Young-9l.