The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1841-07-13
it was ordered by vote Of 10 to "a ana 'ne 'e''
luton then adopted. Y,,. o

cupied most OF tho time OF the Senate 10 nay' ""u
seems likely to last some days longer MT Suoa'e
commenced the debate this morning WIN very
elegant and persuasive speech ~ 'aVor o' l"e :"
menomen,. lie entertained no doubt whatever OF
Tho power of Congress to establish bank with fn'l
branching powers. In this particular he had Tue
happiness of entertaining the same OPINION wan
Washington Hamilton, Madison and Gnllatlne
But under the peculiar circumstances by which
they were surrounded he had concluded not, how
ever, without great hesitation, and painful embar
rassmcnt. 10 exercise here thar spirit oicompromse
in the administration fthe government which had
SO large share in its formation. The institution
would have all the powers of National Bank, ex
cent the delicate peculiarly local power ofdscou mt
inc nauer without The assent of the States. IL
would tend TO secure uniform currency, to crcu-
late the public money uselully, and to cheaper and
facilitate exchanges; while the animosity and jeal
onsy which had been aroused against the old bank
would not be excited against one which would be
introduced into the States only upon their own IN
vitation lie was perfectly willing TO oist the feel
mrs of the different States on the side Of the bank,
by permitting them tax it to the same extent
with their own institutions, lie considered him
self and those with whom he acted, sent their TO
he was convinced that the best service which could
be rendered would be the establishment of AVIATION
al Bank at the earliest possible period.
Mr. Simmons, Of Rhode Island said he could not
concur with the views of the Senator from Massa-
chusetts lie was willing to make every compro-
mise in his power for The sake Of cancellation, but
he could not upon his conscience, vote for the re-
lnquishment of powe, which had been adiudged
Al, ,.,n.a, n Stnn
of the Supreme courr, in which body was vested
the power finally to settle all questions arising I'M
| der The constitution.
| MIR Archer then rose TO express his dissent from
the views promulgated by his colleague, Mr. Rives.
He could not listen, but with dread, to such con-
suucton. He sail:
The bank which TO be located in this Dis
trct was, to all ntents National Bank, or moth
ing,-and if Congress had moi the power already
to extend lis branches over the States, they could
not gain it by the assent of the States He could
NOT think that bis colleague wished TO do that in
! directly which he had not the right TO DO direct
y.
Mr. Rives then took the floor and replied TO his
! colleague with considerable warmth, and good
deal of sarcastic, not iIlnaturcd, viii His remarks
were chiefly directed to the private political posi-
lions OF himself ana DIS colleague, anu as sooH ds
he concluded the Senate adj
In the House the distribution bill is still under
discussion 1t has advanced no farther than it had
gone last night. Messrs Randolph, of New Jersey
and Cooper of Ponnsy lvania, made speeches TO day
in its favor, and Messrs Pickens, Dean, and Haber
sham against it.
| July 3.
Mr. Bayard moved the appointment OF a special
IF five IN into Ia
of repeating the rule of the Senate which amdis
a certain number of reporters upon Its floor.
Mr. Walker advocated the measure, and suggest
ed that it would be well for The Senate TO employ
sufficient number OF reporters on its own behalf,
to take an accurate account of the proceedings and
speeches. The resolution was then adopted.
| The consideration of the Bank bill was then re
sumed, and Mr. Bayard then made an able speech
in favor of compromise and concession. lie said
tha, all tho objects of a Bank, such the power of
dealing IN exchange, foreign coin and buliion-tak
ing and holding lands "a security, &c, with the
single exception Of the right of discouning paper,
would be gained by the passage of the amendment.
tho power of Congress sufficiently asserted, by
giving to the bank the power to sue and be sued in
the United States and State Courts, and to eshb-
( fish Offices of deposit in The several States 1t was
! of no consequence what the amount power was,
as far as that Argument was concerned. 1T ms
| friend from Virginia satisfied with the amend
ment, he was himself satisfied in this particular.
But ne would prefer more specific clause, and
would like to give The bank the power Of locating
its branches in the different States, unless, within
given time they should express their dissent; aud
! he moved an amendment embracing this fea-
ture, and specifying the powercs of the branches
prior to the implied assent of the States
| Mr. Phelps, of VT, said he should be satisfied
| with the new amendment fit should meet with
the views OF theSenator fromVirginia. For himself
he had no more doubt Of the existence branching
I power in Congress, .han he had OF the existence
of Congress itself But he did not consider it the
duty of the National Legislature always to exor-
else the extreme Of its power>-and he did not be-
leve that the neglect to exercise it ould imply its
abandonment. He strongly in favor Of the a.
mendment as a Of expediency. The ne
cessity Of compromse had been constantly appa-
rent in our Government since its first foundation.
1t must be ever necessary in every legislative body
while the minds Of men continue to differ No par