Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-07-08

\ MIR Walker d.d Dot regard that explanation o..
satisfactory. and conIendrd hat m the return, t,a,i,
10 the Secretary of the Treasury by the Banks there
was no separation Of loans and exchange Discount
embraces exchange
Mr. Woodbury. made few remarks BY ,v,y Of
repcIins the arr umenls OF the Senator from n.l,.
ware.
Mr. Linn stated what was the course of bonkinr
/ bus ness pursued in he wes'
The discussion comprchcnding only the unin,er
S'Hg uela'is and Was continued some time by seN.
erai Senaior> beng liiile more than a disruic c,,n
cerning the TRANSACTIONS ct banks IN Tho mailer a,
buying bus oi exchange and whether ihey were Ia
We regarded as loans or discounts an Increase oi
circulation.
Mr. summons moved q modification Of the amend.
n,'"' OF Air b'yard winch was accepted by Mr.
Clay. nnd then agreed To without n division
Mr. Clay moved To ameHd the 2lsI Fundamental
rule 10y making II prIhibiIion To tako any unb.ic
debt, ur any other stocks IN any other why than a,
security or satisfaction for debs pr.yiousv ountr,c
ted. which MAS agreed to-
Me Clay moved IN amendment TO the clause de.
"g"1u''g Tue "ilcerS who shall sign the notes ~.
''"''l''u 'hai oOO signatures an hour Was an u
mount rs great as any individual could accumpli
insecurity had Dcen The CONSEQUENCE or Ia, c,,,,r,
an nplIcaiIon TO this branch. IL would take ,,sh
~e" months Tor The officers now designated 10 sun.
pN u,e amount necessary To meet the present De.
manu- lie moved To amend toy " ak,ng a proyi.ion
| '1' "e T'e'iueni and Cashier Of the branches may
sign notes not exceeding twenty dollars
MT Walker opposed The Tao ION ~ intended T.,
remove the restrictions which had bsen previously
imposed IN the bill. II was originally q rr-a, i'm
poON'ment on the old bank charier but now all The
resir'ciIons were To- be taken OF
Nii Clay explained. The notes were IN be prc
pared here marked and lum5ereI here. and mcrel,
.snI 70 Tue orAnehe. iors gna,ure. Not single rc
sreuon was intended o. h. removed
MIR Walker sill ,hiact.4 - IL -. -
.rss 'here ives physical imp ssihiluy in the W.,
me old Bank 81 the L. s. with larger capital is
'"eH us notes without any such assistance although
was allowed 10 issue five dollar notes.
Mr. LAY ehpr' ssed nsouishmenI at tho oppns
20" winch hAd So suddenly sen up to every pror
o''''i'' amer The uHd'r-ta dug that the friends @
Ihe bHl would BE- permutt Ia amend IT, before IN
Senai'rs on the other side would propose tb,irs m
h'ped me friends of The bill would rot be driver
OH ny these attacks lie repeI.ed that the mole
would he all prepared to be- sent from here mn.
Mould merely have 10 hc signed at The branch,.
Oh NE conduct of ia. old bank there was n cum
plant Thai the noes could not b. issued in s,fieu
j. numbers 10 meet The public demand
Mr. Clay rIdiruled ihc idea that the rm,uiorion /.
heng Bank party could have mn. ter.nrs Tn
"arler oil Tie Old Bank authnrscd addripnal officer
'oslgn n"ies oi mot less a hundred dot AIRS.
VIZ Walker stated that the charter alluded 4, M
, 'hors'd TWO additional signers but il wasnoy pr,
4 p sed to aid iit two.
Mr. Balard road extract f;rrn Mr. GnIlarn'
0 pimPhei un the sIb.cc ufth- rircuia,i, al t, NIT
81 lac Bank o. the United Stiles and ,ndirnt,ny nj
. oli' u al an or!er Ia supcrsedc the deprecirnte
''"'hy WIN winch The country IL iuurd,t,,
There "otlI be greater demand Than ever for u
! n"es "i a new Bank of the United States He r.
{ ou'',d me idea that Ihis cir,ullrun Of not.
NOuio unVe all Other notes out OF lie coun,ry A
u u'a' could be reasonably expected was that n no
IT, OF heniihlul circulaIinn ,v,,ulJ no ;nC,I -,
me general mass of the currency and lat tbe Nbol
"1u q no bcne..icJ av the iniusiCH
Mr. Waller STATED that The noi,s of,he I 6 Bar
would supply The bu mess circulation ofIbe cuuuI,,
spreading isef ihroughou, he country from ono ey
ue"i !" me o,hcr. He hoped that the ten do Ia
Initial n would hc retained
Mf Nopi ErJ asSo ed that he number Of mote
me o'd Is NIX put circulate - before the is.uir
"i la X chicks was Iiue millions
lac question was Ihen taken un tho amsndma r
oi Mr. Cay I'D dc LED IA the affirmative, yeas p
noss 20.
= On motion Of Mr. Clay. The scnnt, went i..,o II,
consideration o. Executive husnes. & then adjpar
= HOUSE or REPRESENTATIVES,
+ PETITIONS
e PelH'on' were called Gr Several were rerei,
ed praying TER The esa'li.imrut 81 n National Ban,
and The p"'s'go Of General Bankrupt Law.
: Mr. wood presented petition from New Ynrl
praying mat tie public drnIm be lad off IN c,rY,
81 from % 10 81 acres. 10 be given gratis To acir
; al settlers. Referred 10 The Co.nmiiIee on Pnbl,
Lands.
DISTRIBUTION BILL.
The committee ia took up the bill PROVIDING 4,
'he dis'rburn Of The proc IDS Of the ,lI., al m.
public lands Among The SAFES
Mr. ) 'hnSnn resumed hi, remarks in supnorf r,
ne hiIi' Which were interrupted Oh Friday by ind Is
! position.