The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1841-07-13
Congrcss---Extra session.
cnrlnanon,inlce or IIle AlIas.


lang. containing from 700 10 $4,000 names OF
voters Of New York city, praying for The establish
ment ola National Bank. Mr. Clay remarked that
n, one lime when crowd was collecting pubs
lie placo in New York Tor the purpose Of signing
this petition, five locofocos went there with the
design Of breaking up tho process, hut wing went
TO them and by calmly reasoning on the subject
persuaded four out Of the five TO put helr names
TO the petition and saimost persuaded" the hilh'
Che bank bill then taken up, and Mr. Hen
ierson of Miss moved to amend by inserting pro
vision to confine the privilege Of subscription to
the citizens OF the United States and corporations
established under the authority of the latter Mr.
Mangum said he should vote for the amendment
in Difference TO strong though in his opinion un'
founded prejudice entertained by great Numbers oil
the people against allowing aliens to hold stock IN
a national bank. He moved TO amend the amend
nent so as to exclude resident aliens, and Mr. Hen
derson apopted the proposition as part Of his
own motion. Mr. Preston opposed the amendment
as tending TO exclude foreign capital which would
be highly convenient to us MIR Benton SAID the
foreign capital would be sent TO us III the shape OF
dry goods 81 crockery wa'e which we should after
wards have remit$3O,O0o Oo0of specie to pay for
TIT would be rather an odd arrangement, by the
way, for Yankees to pay twice over for any thngl
foreign influence and the visits of Luxurious bank
ers this city corrupt tho managers ofhe banks
and perhaps the members of Congress. Mr. Pres
ton secuted the idea of any such influence being ex
aercised in country like ours He said the impu
laton was all humbug. The American people
were not subject II any such influence. As TO the
capital, that would OF course be RENTED in the
most convenient form, ei;heri specie something
4, II Mr Wall ken
tendency to over Importation which had been ais
ready so disaserous, would be stimulated by so
large an addition of foreign credit.
Mr. Smith of Ia, said The best way to guard n
gainst thar evil was to impose protective duties.
There was nothing 10 be feared on our part from
our own possession of foreign money. 1t confer.
red power upon and not upon those who en-
trusted it to US.
Mr. Morehead moved 10 strike out the clause oil
the amendment which relates to resident "a
liens. Mr. Clay hoped the motion would prevail.
He was willing to vote for the amendment in that
event, though he looked upon the prejudices a.
gainst foreign stockholders totally nnfounded,
and as the result ortbe prating ofdemagogues.
Upon taking the question Mr. Moreheads motion
was rejected, % TO "a, and Mr. Hendersons amend
ment was accepted, 33 to 16.
ton bill Mr. Clifford concluded his speech this
morning Messrs. Merrwether and Afford OF
Ga, Kennedy Of la and Floyd Of N. Y, followed
him in opposition 10 the bill, and Mr. Howard OF
Mich. in its favor.
1t is supposed that the measure will pass, though
n pretty close vote is to be apprehended The
Georgia delegation uniformly opposed TO the
hill.
~ ~" July I.
MIR Rives moved his amendment this morning,
providing for the insertion of that part of Mr. Ew-
ing's project, which requires the assent of the
States TO the establishment OF branches, and the as
sent of Congress to their subsequent removal. Mr..
r. supported his views by very able and inge-
nious speech. He remarked tina. he had at one
time entertained strong hopes that the Stat bank
system might prove sufficient Cor oil the ends of
the Government and of the commercial commun-
~. But the friends of that system have nearly all
abandoned it, he willing to lend his best as.
sistance to the establishment If National Bank,
provided that could be done in such manner as
not to interfere with his construction of the Consti
tuition.
Mr. Clay opposed the amendment with great ear
nestness, and with his usual eoquence and force.
He could not but think it the duty of a Wing Con-
gress not to abandon right for which it had so
long contended at the very moment hen it was
in their power to vindicate it, He did not consid-
the district Institution which the Senator would
establish n National Bank. 1t had none of the
powers Of such institution.
Mr. Preston hoped the Senate would concur in 4.
doptng the amendment. lie would waive the dis
cusson Of abstract questions and speak practi-
cal politician; if they would as party man. A
plan had been sent down from the Executive de.
partnent Of the Government, in compliance with
the request OF the Senate. This plan might be a
greed TO by all, without the sacrifice of constitu
tional principles. And il was by means certain
that the plan substituted for it would meet with
The adoption of the amendment would no,
prevent the bank from furnishing the government
with every facility and the country with sound
and uniform currency "i-sis Il"
The Senate then add. Mr. Merrick having the
floor upon the question. "
TheHouse proceeded Immediately after the journal
was read, to the consideration of the Distribution
Bill, to do which suspension of the rule re-
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