Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1841-08-06
BANK BILL PASSED THE SENATE.
Washington, July q, ls4l

washington, July ~, lS4l.
The issue of the contest aboutthe Bank Bill is de-
cded, though many speeches mty yet be made before
it will be allowed to commence is troublous but con-
tident career through the Hose. After an able
speech from Mr.. Morehead Of Kentucky, in support
of the constltutOnallty of National Bank, IN which
he reviewed the whole Of the three branches OF
the government in relation to this much vexed topic
and several replies thereto from Messrs Calhoun, Al
len and Benton, Mr. Huntingtons amendment was
brought up on motion to reconsider the tie vote OF
Yesterday and this motion prevailed by ayes 81 noes
22-after which the amendment was adopted. 1t will
be remembered that it permits the bank to issue five
dollar notes.
Mr.. Clay then brought forward the anxously ex
pectcd Compromise. He moved to amend the bill by
striking out the penary branching power and inser-
ting clause permitting the Directors 10 establish
branches in any territory district of the U. s. or in
any State with the assent thereof-such assent to be
presumed unless expressly denied by resolution or
some other legislative expression ofopinon at the first
meeting of the Legislature of such State after the
passage of th. act. When the branch is once estab-
shed it cannot be removed by the Directors till the
expiration of the charter without the consent of
Congress Congress may, against the expressed
dissent of any State order the establishment of
branch within its borlcrs when they shall deem such
an act necessary andproper TO carry into effect any Of
the powers conferredupon it (Congress) by the Con-
stuion.
Mr. Clay advocated the passage of the amendment
with grea, ardor and ,oquence. He brought it for
ward he said, in the srt of concIation and conces-
sion, for the purpose of uniting the friends oil the
measure in the Senate He did not know, nor had he
sought nor desired to now the opinions of the Chief
of another branch of he Government in respect to
this Compromise, not because he did not entertain the
hghet respect for suc opons but because he con>id-
cred it to be the duty the Legislature oact without
reference to the sentinpns of members of other de-
partments. Mr. Rives vas not by any means satisfied
with the Compromis. He thought it conceded
nothing, and he coult not vote for it consistently,
with his views of theConsuton: Mr.; Calhoun
| - inf, dup,tu mr.
Constitution. 1t was attempting to do with the as
sent of any particular State what could only be done
by three-lourths OF the States, upon the recommen-
dation of two thirds of each branch of Congress- or
of the Legislatures Of tvo-thirds ofthe States.
| Mr.. Walker thought ita most dangerous encroach-
ment upon the the rghtsof the States, and seemed to
consider it the thing with the original BILL as far
the assertion of the br,nching power was concern
ed except that it was, in lis opinion, more nsdlous.
| Mr.. Preston wished tina Senators would assume
some single ground of opposition. One contendedthal
thu assent of the Sta'es was not required by the
amendment while another objected to ii because such
assent was required Botl these proposition could
not be true He went on tourge the adoption of The
Compromise with his usual lower and more than his
usual ardor.
Mr.: Simmons, ALSO ably supported the amendment
and Mr.. Buchanan opposed II.
The question was finally taken after a very earnes
discussion, which commanded the most perfect silence
in the Chamber, though 10th the floor and galleries
were densely crowded. and decided IN the affirmative
BY ayes %, noes pa The bill was then ordered to
third reading by the same vote and the Senate ad
iourncd. Messrs. Clayton and Henderson were alb
sent. 1t is said that they were opposed to the amend
ment the former because it conceded too much-th
latter because it did not concde enough-but II il
considered tain that they vii vote for the amended
hill thouoh they would give ony passive assent t.
the amendment. This same passive assent to tn
amendment is now all ha, Is required OF the States
and in this mainly consists the Inference between tn
} Compromise and the plan sublht,ed oy MI Ewing
L.. ,r,, rIu h,,M Mr. Sclpm
would have left in the power d one branch OF an
State Legislature, 10 prevent the introduction OF
branch against the will OF the otter two branches an
of the people themselves, whlethis gives the powe
Of exclusion only to decided minority of the eneme
of the bank This is more practicable scheme tina
the other, and asserts for Congress greater power
The declaration that branch sail be established i
inritum, whenever Congress shall deem Il necessar
and proper to carry any Of the granted powers,
chiefly important as part Of the contract with tn
k corporators-the power asserted being given by n
@ Constitution almost in the precise words of III
i amendment The branches will now be established
u as was proposed y Mr. Ewing by the joint authorit
i of Congress and the respective States, though II
will of the latter wi probably some cases be on
j. presumed to cooperate IN the matter The state
It the case is simply this. Congress have the power
, establish bank where they deem proper, who'
: the assent of the States. At present. from conslde
IS atoms of expcdiency merely they do not choose
exercise this power to It's full extent, but prefer to as
the consent OF the States and having full control of Il
a. subject they conclude to fix the precise degree Of asse
. which they will require.
:. There is scarcely a doubt that all the States who
10 assent is desirable will gladly afford it, and thus
70 the great objects of National Bank will be attane
while, at the same time, the hypochondracal abstra
e tons of some of our friends good naturally
= duged but not without eye to thrift. There IS
doubt that this bill will pass the House without dlf
&c Guilty. An influential Western member predicts for
% a majority of thrly-fve. The members of the Hou
seem quite eager TO get hold of it, anticipating nothi
g but intense enjoyment in witnessing the nefiectt
l. struggles of the Loco-Focos. 1t is expected t
to that the bill will be signed by the President, and eve
body looks bright at having fairly passed this II
:, treatenlng snag.