Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-07-24

surplus fund 20 the Treasury, ins'ced oi perm tiips
u 10 Accumulate m the Bank, subj is cOntto'.
Tue amendment Was then reIeCIel-ayeS -, noe'
Mr. BUCHANAN moved to amend the bin b,
| serlng the words "and the private depositeS," -
10 include them IN the basis Of ,pi al on which
discounts may be allowed. One Tor three he did no
regard as any sCcurIy; and such he believed, wa,
the proportion To the circulation which the speei,
| sometimes bore IN the late Bank of the Uni;eC
states. One to three Of the circulation would be
about as one to tea VI the whole liabilities including
| the depcSitcs.
| Me- CLAY, OF Ky. defended the bill rs il stood
| lie proceeded 10 remark on the impoicy OF max.
| ing 50 many amendments that gCnt'ens, seemed to
! have forgotten what were really made. lie then
| ran over the list OF restrictions which had heen i'm
posed on the bill already, and insisted hat they had
sufficiently tied up the bank 50 As to prevent any
risk OF njufy to the public
The amendment was rejected ayes % noes &c.
MIR CLAY, VI Ala, moved amend ment for
the purpose OF securing an equal distribution Of the
capital oi The bank through IT'S branches accordin,
10 the domestic exports OF the States. and to secure
the adjustment THE same every five years.
MIR CLAY, OF Ky. said this WAS a curious pro-
position. lie would venture to say that not more
than two millions would be subscribed to the stock,
by the States South OF this. Eighteen millions will
be subscribed IN the N0rth-and here is PROPOSE
ton TO bAse the distribution, not the subscription
and the busincsS-but ON single item, the assets
The question was then decided in the negative
ayes IL, no,s p.
Mr. NICHOLSON moved an amendment on
Section l6, making the act OF any board ofdrectoTs
in applying any portion Of the public money to the
purposes OF loan or discount, or exchange, viola
lion Of the charter.
The amendment was nesauved-yess 10, nays
&c.
Sigh, modification was suggested by MIR VIII.
LlAMS OF Maine, was acceded TO by Mr. CLAY,
and adopted
MIR WILLIAMS then moved to amend 10y max
ing the notes OF the Bank paid out to any branch,
payable at the branch where they are issued.
Mr. CLAY objected TO the amendment Ii was
now provided thst the duties were to I've received
every where in the notes Of the Bank. If CongresS
would take away this obligation, the Bank would
very willingly issue notes payable at iis branches.
lie saw no danger from the bill as II stood.
The amendment was ncsatved.
Mr. BEN Ton moved 10 amend the 81 section by
striking ont all the details OF the value Of the gold
coin receivable.
The amendment was negotived-ayes p, noes
Mr. BENTON novel 10 amend the bill hy strik
IN ou' the word CON-" among the articles in which
the Bank is authorized TO trndr.
The question was decided IN the negltive-ayes
30, noes pc.
MIR BERRlEN moved 10 amend so as TO maks
provision that when ten dollars shall nave been pad
~, the Bank may adopt the preliminary steps pre-
Para;cry 10 going In;o operation.
The amendment was agreed TO. Ayes -, noe,
-.
The bill was then reported, and ca motion Of
MIR Clay, the bill was laid on the table and ordered
TO he printed.
The Senate al burned.