Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-07-20

- OStiotS ASSuuOu luS SuUSlu6IdiiOu OI
the resolution of Mr.. Buchanan relating
TO removals from office, aud Mr.. Linn
proceeded with his remarks, till arrested
by the expiration Of the hour allotted 10
miscellaneous business.
The Senate then took up the Fiscal
Bank bill,end made considerable progress
in maturing 1t. MIR. Walker moved 10
amend the 18th fIndame ntal rule, by
requiring periodical reports Of the notes
discounted, with the names of parties.
and all other matters connected with the
financial affairs of the Bank. This mo.
ton, and motions slightly 10 modify it,
we're supported by Messrs. King, Benton,
Clay OfAIabama, Calhoun, Allen, Wood.
bury and others, and opposed by Mr.. Cha,
who said that the reports required by the
amendment would fill volumes, and we're
unnecessary, as the bill contained all
sufficient provisions on the subject
Mr.. Walkers motion was lost-yeas %
nays 25.
Mr.. Walker then moved to amend by
providing that the books shall be open
to any number Of stockholders above ten.
Agreed to-yeas 81, nays %. Mr. Ben
ton moved to amend, by providing that
books should be kept in which a list of
all bills of exchange offered to the bank
should be entered. Lost-yeas 90, nays
20. Mr. Walker then moved an amend
ment, which was modified till it provided.
that the vote on any discount Of $1,000
and upwards shall be taken by ayes and
noes, and entered upon the records, where
The same granted, if any director pre- .
sent shall dissent Agreed to. Mr.Ben.
ton moved an amendment, prohibiting any
secrecy towards Government Directors.
Agreed to-yeas 25, nays %. Mr.. Ben.
ion moved 10 strike out the word "bull-
lon," as one ofthe modes in which the
bank shall pay out It's substance. Agreed
to--yeas 20. nays 2l. Mr.. Clay of Ala
hama, moved 10 amend the provision pro-
hibliing the renewal of notes, &C., by
adding, "and that every such contract for
renewal shall be null and void" Lost
yeas 10, nays 24. The Senate then went
into executive session.
HOUSE.
July 9Th.
The House engaged in miscellaneous
business till the expiration of the morn.
ing hour, when it went into Committee Of
the whole on the Loan Bill.
Mr.. Pickens said that this bill. although
Ostensibly a bill to enable the Cove rnment
to borrow money, was in fact, only
scheme to enable the Government 10 tax
the people. lie then went into an exam
lnation OF the taxing power, and showed
that England operating upon comparative.
ly small territory could raise $3.50 600.
QUO with less oppression upon the peo.
pie, than we could raise $50, 100000 in
this country, for we raised the revenue
in one portion, and expended it in anoth
er, which had the effect of impover-
ishing one, while it enriched the other
portion.
Mr.. T. illustrated his position by re-
ference to France and Russia. He ex.
pressed asionisbment that the chairman of
the committee OF ways and means should
have endeavored to irritate the worst par.
lizan feelings when he introduced the bill
and said that he would not follow the ex. |
ample. He then endeavored TO show
that the estimate Of the debt, as made BY
the chairman Ofthe committee, was alto
gether erroneous, at the utmost extent
that debt could not exceed S3 900 900.
instead of the enormous and nnreasona.
bic amonntOet down by the gentleman
of S lS,ooO,O00. Mr.. Pickens was cut
Oft in HE remarks by the expiration Of the
hour.
Mr.. Sergeant said that il was true that
The people had changed The Administra.
Iion, but had not changed the interests
't the country. If il was asked WHY thew
lad changed the Administration, he would
inswer because they chose to change IT,
ie said that practice had grown up in
his country Of using money for one OBJ.
oct which had been appropriated for an
ther, which enabled the Government 10
IN the people in debt without their .
nowIedge, which ought TO be brought TO
close: and ho conceived that this was I
argument in favor Of the bill. ii
Mr.. 8. went to show that the late AL. Il
had run the nation in .debt I,
lO,OOO,O0O, which il was the du,y Of !.
10 Administration to pay. If tho laie '
administration had paid the debts of the "
ton, The present ono could not follow in
Dir good example, for there would be- nI
debt to pay. He alluded to the argu. :,
mt Of the gentleman from South Caro-.
4, on the subject oftaxation, which he n'
9 was an asgumentagainst the Union u
had not concluded when bis hour GLASS 70
ont.
ir, Rhstt carried out the argument Of 6,
colleague, and rc.assertea that taxes y
led ia one place and expended in ,he pr
er,insvitably impoverished the people be
taxed. lie had listened 10 the zen. tht
man from Pennsylvania, with ast onish. Dr,
NJ, when he was urging against this RI