Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1841-06-17
CONGRESS-.
EXTRA SESSION.
WASHINGTON, June s, ls4I.
sENATE-TUEsDAY, June 8.

York, in favor of an equal distribution of
tho proceeds of the Public Lands, which
were laid on the table.
Mr.. Evans presented petition from
Maine in favor Of Bankrupt Law, ard
also one in favor Of The incorporation Of
Bank OF the United States, which we're
laid on the table.
Mr.. Buchanan presented the memorial
of Edward Bidile, Of Philadelphia, on the
subject of a Fiscal Agency, suggesting a
Capital Stock f400 millions, 10 be raised
as he recommended, which was referred
to the Select Committee on the subject of
Fiscal Agent.
The Senate proceeded TO consider the
special order, being the Bill to repeal the
Sub-Treasury Bill.
The question being on the motion Of
Mr.. Clay, to amend the said bill by insert.
| ing provision to repeal the act of 1896.
Mr.. Berrien said he was not yesterday
statistic d with either Of the alternatives pre-
sented. IL the amendment OF the Senator
from Kentucky prevailed, we should be
thrown back on the Act Of 1889. 1t
would then be in the power of the Execu-
! tive agent to re-establish the Sub-Treasu.
ry, stripped Of its Agents in fact the
public money would be placed at the un-
restrained discretion Of the Executive
| agent. He regarded this question as set
at rest by the emphatic decision Of the A
merican people. The proposition of the
Senator from South Carolina would have
us left under the operation of the act Of
1886, and to this he also had an objection.
He had desired time TO examine the SUBJ
ject.
He then took brief view Of the argu.
ments advanced yesterday on both sides,
and expressed himself dissatisfied with the
result. On examining the Act Of 1886
he found that the fist section provided
that the Secretary Of the Treasury might
select bank, but in case no proper bank
could be found in one State, he might go
to another State to find bank legally
qualified, which might be entitled branch
to receive the Deposi,es. He thought the
range Of selection might be enlarged. If
the Senate should leave the law of 1916
10 operation, it might be as safely left
with the modification of the Senator from
South Carolina. But the interval before
the ests blishment of some fiscal agent
would, he trusted, be very short. Public
opinion demanded the repeal of the Sub
Treasury Act and he hoped the Senate
would not be disposed to disregard it.
But he was not willing to have the pub,
lie money, even for that short period, I'm.
der the control of an Executive agent.
He was ready, however, to have it sub
ject to the law Of 1886.
Mr.. Walker of Miss. would not vote
for the repeal Of the Sub Treasury, nor
the re-establishment of the State Bank
system, to which the people of his State
were bitterly opposed. There were but
two Senators from Mississippi, he said,.
one for U. s. Bank, and the other for
the Sub Treasury, but there were none for
the State Banks.
After some further convers lton be.
tween Messrs. Clay, Calhoun and Walker,
upon the state Of tho question, Mr.. Cal
houn's amendment to Mr.. Clay's amend
ment was accepted, when both were voted
down. So the Senate refused to repeal
the act of 1886, which left the bill as Mr..
Clay reported it.
MIR. Clay said he would not commit
himself to a feet Of State Banks, and at
tempt to go on with them; and he hoped
that if the act of 1886 was newed, much
would be done to make it acceptable to
the changed condition of the country.
HOUSE OF. REPRESENTATIVES
After the reading of the Journal this
morning, the Speaker announced the fol.
lowing as the Standing Committees, of
which the following gentlemen are the
Chairmen;
CnnnniItea IN Observation-Disclosures IL llstand