The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1841-07-30

and the bill reported to the house. The
preyious question was sustained and the
resolution adopted. So five days in all
were allowed to PAP members to discuss
the expcdiency of now laying the founda-
ton of funded debt.
The Loan Bill was then taken up in
committee of the whole and discussed I'M
til the hour of adjournment
Juiy lO,-Seaate-Tho consideration
of the bank bill was resumed. Mr.. w ood-
bury proposed an amendment, prohibiting
donations by directors out OF the funds OF
the bank. The amendment was intended,
he said, to prevent the bank from running
into all the lOg-rOiing schemes of i'm
provemcnt in which the late bank indulg-
ed TO purchase neighborhoods and cities
over to its interests by douceurS 10 rail
road company here-a canal company
there-and by contributing to charities by
way of reaching the sympathles OF whole
communities. i'll assuming seeming gene
rosity when it was in fact bribing and
corrupting upon cold pecunlary calcuIa-
lions. Mr.. Clay objected, and proposed
TO restrict the prohibition to the making of
donations TO officers and directors. Mr.
c. was very willing to cut off the officers
of the bank from their accustomed pen
sions, but the rail road, canal, church, edi-
toral, and legislative pensioners he would
not exclude from the benefit of the Grand
Amoner's purse. In a word, he would
not check the popularity of the bank with
this class, by inserting the prohibition, al
though with the secrecy which is secured,
it would doubtless be totally disregarded
in practice. After some further CONVERSE
ton the amendment as modified by Mr..
Clay was adopted-26 to 81.
Mr.. Allen then proposed to provide that
no part of any donations should be charg-
ed on the funds of the government. Mr..
A. maintained that, as the bank was made
the treasury of the nation, all It's funds, as
stakeholder or depositor, were TO all in
tents and purpose public money i'll the
treasury by the very terms OF the charter,
and it was a clear violation of the consti-
tution-which says no money shall be
drawn from the public treasury unless APP
propriated by law--to permit gratuiles
to be made by order of the board of drec-
tors. Messrs. Calhoun, King, and others
strongly supported this view of the ques-
ton. Mr.. Clay opposed the amendment,
and 1t was rejected, u to 23.
Mr.. Wright moved to strike out the
provision for the increase of the capital of
the bank from thirty to fly millions after
1851, and urged the amendment at some
length. Mr.. Clay replied with great i'm
patience, and said something about insi-
dious amendments. Mr.. Wright coolly
responded, and gave Mr.. Clay to under
stand that senators would not be deferred
from doing their duty from any regard to
the personal senstiveness he evinced
when the liniments of his offspring were
closely scanned. The amendment was
lOst,-aycs %, noes 26.
Mr.. Woodbury. moved to strike out the
thirty millions capital of the bank so as to
make it mere bank of dcposite, and on
this he made an argument OF considerable
length, but the amendment was lost, and
the senate went into executive session.
HouSe-I'he morning hour was killed
in discussing the merits of the Mcleod
case, after which the house went into
committee of the whole on the Sl2 ,000,-
600 loan bill. This was discussed until
the committee found itself reduced to a
bakers dozen, when, at half past four, it
rose, and the house adjourned.
Monday, Wiy l2.-Senate-There
was some conversation this morning on
the subject of bankrupt law. Mr.. Tall
madge urged the necessity of action on
that subject at the present session, and be-
lieved that no political party could be sus-
tanned which set itself in opposition to that
law. Mr.. Walker said he had resolu-
ton read y for calling up the bankrupt bill
as soon as the bank was disposed of. 1t
was subject of infinitely greater import
"hNS' tiht any otIlCi VI VIC lhCdauICS VI
the session. For his part, he said, he
would prefer law including corporations.
Mr.. Linn also expressed himself in favor
of such measure. The matter here
dropped. II the bankmen get their char
ter through, they will not stop to erect
bankrupt law.
The bank bill was resumed, and Mr..
Wright moved to amend by striking ont
the hundred thousand shares which the
U. ). are to subscribe for. The Govern
ment had no cash capital to dispose of,
and he asked whether it would be expe.
dent Tor 1t to contract such a debt for the
purpose Of entering into SO hazardous
speculation. Mr.. Clay replied with a
great deal of animation, and strongly in
dlcated determination to crush the free
dom OF debate in the senate. lie said the
people called for action, action. Mr.. Linn
re]olned with some personal severity, de-