Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1841-07-22


y hlic officer, IN virtue of such appropri-
;iionS.
Mir. Clay sa'l that, as n partner in tho
corporaiion, the Government was bound,
by The principles o: the partnership, to
>GLmi' 10 such disposition "I ii, means, as
the controlling Inajoflry Of The corporation
had The right Ia order.
Mr.. Calhoun insraTccd This ms an cxcm-
piiicaion oi'rirc cvi! OF cor,plicatins The
affairs al the Government with those of
individuais. IL the proposition was put
directly TO allow the Receiver General nj
Ncm York. or nj Charleston. 10 take the
money out of tho Independent Treasury
aud dispose of in sraIuiIcS, would ii not
hc r"Probalcl by every Senator in tie
body. And yet in Tie present case, The
+ question Is nothing uurc nor less. than
! whether individuals shall be authorized Ia
take the public money on: of :hc TrcaSn-
ry, and dispose Of i, in gratuitics. He ur-
Scd that hi, connection Of the affairs oi
Government with Il company OF bankers
on The ground assumed, might subject The
finances o! The country 10 control utterly
at war with the real :iducinrics-tIIc repre-
scntati.cs of The States and tho pcoplc-to
whom The Constitution committed This vi
tai Trust. He said the case now before
the Senate sinplliicd The matter. so that
every man must sec the danger ol this
odinHs connection Of Government with
BANKERS. The charter committed the H.
nanccS Of tie nation To the custody and
management Of the corporation. The
amendment as modified by Mr.. Clay dis
,incily put The funds Of the Government a,
the disposal nf The Bank managers, not
merely he applicdio to the purposes spc-
ci!ict! IN the charter as Government or ban
king purposes, bur 10 he given away III
graiui,ic, by the board Of directors, prov.
dcd ;Ir Si(l were no, made 10 the officers
Of the BaIk.
The Question was taken on Mr.. Allcns
amendment. and il was dcfcaicd-21 to2l.
Mr.. Wrighrmovcd TO strife out the pro-
vision III the charter for the increase OF the
capital Of rlrc BANS, from thirty 10 fifty
millions after ISL Mr.. Wright urged
that The conditional creation ofncw shares
in the Bank, n the cnl oi' ten years. would
produce IN influence in relation TO The cs-
rabliShncnt, which would be any thing
but conducive 10 The stability and uniior'
niirv which ii seemed 10 he The great Oh.
lccr Of those in favor THE concern 10 IN
part 30 the business Of the country, with
which it VA, connected. lie SAID that If
it was found profitable, the owners of the
thirty millions. welding a vast power,
which oppose the increase o. shares. which,
in bringing two thirds of nc same amount
Of capital 10 participate in. and diminish
The profits. would be prone to rcsIstihc IN
crcasc-ihcn there would be- great body
Of wealth struggling for invcsmcn, III the
Bank. which would bring another power.
aud Congress, by pressing for an inc"rpo-
ration of ad,!nioual CAPITAL, sufficient TO
make new Nolional Bank. Then ilric
holders Of The thirty millions should find
their establishment shakiuS-its history
being that ofrhc late Bank-'hcy would
he auAinus 10 niusc new capital into lis
Shrunkcn vcin'. aud iuiricucs would be
set aloo, by The secret rzaragcrs IN the
Bank parlor, 10 increase the capital. and
bring in new associates, and inlucntal
allies.
Mr. Clay Of Kentucky, replied TO Mr..
NSieLi- ..ith come fyctfulncss, and, init
mated that these vaffJfrIIs amendments or-
fcrcd were only insidious attempts 10 de-
feat tie bill
Nlr. Wright replied that The Partially Of
the Senator for this measure, aud The scn-
sl:ivcncss he cyinccd when attempts were
made 10 improve !: nigh, hc excused on
the score of pa'crna londncss, hut that
Senators would no; be deferred from do
ing wha; they deemed their duty TO their
country BY any mparicucc of the Scua
tor from ilcn,ucly The amendment was
ncgaivcl-ayc< - noes 2G.
Mr.. Woodbury. moved 10 strike out the
thirty millions o! the Bank. which, il the
motion had prevailed, would have left i,
a mere Bank Of dcpoSitc. On 'hi, Nlr.
w. spoke for nearly TWO hours. when Tie
question was taken aud decided in The
negative. The Senate adjourned.
In TIC House the bill to establish pub.
lie debt was taken W. and Alr. M'kay
of North Carolina. TOOK the floor in oppo
siiioE. and scanned with much mnuicncss
The li.urnsS of the Hon. Secretary of the
Finances by which he had brought the
Treasury so deeply in debt. lie was fol-
owed 10y Mr.. Hunter Of Va. in n most
ablc speech lie criticized the acts of the
majority: aud said that they were disposed.
from The measures presented TO tie House
10 reduce This Republic To the situation Of
ancient Rome. when the simple and vail.
ant Sabine OF the Eternal City WIS rcdu-
ccd to lIic conlcmpribIc Iazaroni of modern
Italy. lie warned the majority against
the war ihai they were encouraging. not
between sections of the country. bur be-
tween The cla>,cS-;hc many and the few
the rich and The poor-ihc rax- payers
and the ;ax-consTmcrs Of The land. lie
said that revolution would Jc the cOmSc-
qucncc-bloodlcs i, might be, hur still a
rcvouIlion-,hat would destroy the Insitu-
tons of this country. he showed the cr-
rors of Mr.. Ewing-said there was no ne
ccsSity for called session. and avcrrcd
that if Mr.. Ewing spent his money rs eve
ry Secretary had-savc one from the be-
ginnins-,hcrc would have been but Il
small dcficir. even If Mr.. Ewing was right
in rcdccminS Treasury notes in this year,
which would not be due until the next.