Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1841-08-05
Twenty-scVenth Congress.

AWC4ey SCNCen OO8SHC~ss
Previous 20 the pssssgs Of the Bsnk Bill IN
he Senate, an Amsndusal was Oasred By some
Of the Ioeo.. fer prohibiting Members Of Coo
grsss ffon having any dsaiings With the Bank.
Dir. Clay OF Ky. opposed IL. II this
Bank charter were like other Bank char
tiers there would be some reason for the
ameadment. but IL Was not. Mr.. Clay IL
Illustrated the Injustice Of this amendment.
AT bis residence he sent forth piece Of
paper a. endorser. or drawer. or aecep-
tor. This vas taken by some business
man ~ paper having q good and peculiar
credit. but the restrictions proposed ope.
rated alike on .he holder. and be was %
much governed by IL - the drawer. en-.
dorser or aeeeptor. Mr. Clay appealed
to The eandor Of Senators f such prohi.
biiion was not unjust add improper.
Suppose such men a. Abbott Lawrence
OF Boston, . man eminent in,ihe nercau-
tile profession, or Mr.. Crinnsll Of New
York. equally eminent. should have one
Of those drafts. He would be Obliged 10
cut loose from il. or from the Bank. Such
a restriction no man should sanetion.-
Mr.. Clay said that he could personally
derive no advantage from a connection
with the Bank. He would have no COO
nee,ion with the Bank il he could help
IL.
MIR. Walker proposed = compromise.
prohibiting members Of Congress simply
from having their notes discounted.
Mr. Clay thought the coDpFomisO con-
ieeded a good deal. He would vote for
it, IS en- amendment 70 the amendment,
but then be would feel bound TO vote
against the whole amendment for the rea-
sons be bad given. There was no reason
for making such determination.
MF. buchanan pursued the argument
10 favor Of the amendment. One by one
the propositions Of the committee were j.
the course Of being struck from the Bill.
He had hoped that in relation 20 members
iof Congress would be retained. Mem.
berS Of Congress from dslieaey should
wish 10 be under the prohibition.
Mr.. Clay Of Ky. objected to oul-Iawing
members Of Congress or erecting q Pro-
erussean bed particularly for them. II
was raid by the member Of Pennsylvania
that Congress might he called upon to
take al iniiiatory step 10 wind up the
Bank, and therefore they should not par
teipaie 10 itS benefits. II that was q va
lid objection. the Limitation would ope-
rate on the Marshal Of the District, on the
Judges, Of the Court, aud on the Jarors,
II you could end oat who were to act upon
the case.
Mr.. Buchanan briefly reslaled his for
meT objections. He conceived there was
q great difference between members Of
Congress and Judges: shat no Judge
should cit in Judgement upon . Bank in
which he was debtor.
The amendment was further supported
6y MessrI King Of Ala. CuthberI and
Walker Of Miss. Mr.. Walker quoted
Mr.. Clay'S speech Of 1916 TO shsu The
bank had political influence.
Mr.. Clay very briefly replied. VIVA;
be said IN 1916 be believed. He thought
the 6rSt bank had a political influence,
but Il was impossible 10 make any hu.
man institution perfect in lie chaTnctsr.-
The Senslor from Mississippi had shown
that the Editors were more in favor with
the Bank than members Of Congress -
Let him then prohibit editors and next to
them the People themselves daughter. J
BY including ell. the Bank would no doubt
be freed from ell political Influence. The
discrimination was q miserable oue, but
. II IL should be enforced, no doubt Ssna.
tors upon the other side Of the chamber
! would feel ~ much Inconvenience a. Sc
majors upon this side.
Mr.. Pierce adduced statistics 10 show,
that in the years 1928 snd a the U.
s. Bank bad loaned altogether slab,
600 10 members Of Congress.
, Dir. Clay said he would venture 10 saw
that Of this million aad a bali more than
! one hall went to the enemies Of the Bank.
and ne knew, Of bis own knowledge, that
The heaviest debtor was an opponent oil
the Bank. So that II there was a politi.
cal Influence, il was likely to be pretty
equally divided.
The yeas and nays were then ordered
upon The amendment in TeRsEd 10 mem.
bars Of Congress. prohibiting 10 The Bank
, The power 90 discount the ps:s Of spv
member Of Congress. The amsndms6i
, was carried % TO -; and provision bv
, u 10 p. limiting che liabilities Of the ID.
rseiOrs 20 elO.OOO
MIR. Linn moved 10 prohibit aBv Of the
otlceTS Of The late bank from having any
thing 10 do with lbis--lost. 10 10 %.
hr. Clay, pending The amendment. said
be would &c sOoa vote 10 hang them with.
out trial as 10 vote fog the amendment
which involved pretty much the saGe
, principle.
An amendment was offered that no
membsr Of CongTsSs should hold stock
negalivsd "a % "a.
he1sFS. Tappan add Walker offered en-
amendment. that Coagress have power "a
repeal the bili--losi. 90 70 -.
An amendment 70 prohibit officers 81
J the Government from feeeiving loans va
rejected. - "a 81.