The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-13
gmentp-Aeoenth Congress.
IN SENATE

FIRST SESSION

eign Relations
| Mr. CLAY presented petition from a number Of
citizens OF Barbour county, Alabama, stating the
grievances, they common viii pther citizens labor
under IN conscq utuce Of the Suspension BY the bank.
that their business greatly embarrassed by the DE-
rangemenI Of he exchanges, which ranged from If
teen u twenty per cent between there and Augusta
and Savannah ia Georgia. MIR. &. raid he presented
the petition with pleasure in hope that the evil
planned Of would soon be cured and he moved thar Il
be laid on the table and printed, which was agreed
TO.
Mr. PRESTON presented memorial from citizens
Of Brooklyn, New York praying the establishment
Of a bankrnpt law
Mr. p. SAID the memorial was numerously signed
by persons OF that place designating their several
cations ~ llfe Why he had been selected 10 make
the presentation be could not tell having any
knowledge personally ofthe memorlalisis. With regard
to the bankrupt law reported could never receive
his sanction and il he gave his support 10 any
Of he kind it must be that would be within
the scope Of the Constitution and regarding alike the
rights OF the creditor and the debtor
| Mr.. TALLMADGE presented two memorials from
citizens OF New York, IN favor Of bankrupt law
| MIR. WOODBRIDGE presented q memorial IN ia
vor ola National Bank.
The Senate then proceeded to the discussion ofthe
resolution submitted by Mr.. BrCHAsAN, calling for
the names OF persons removed from Office since the
4th of March last
| Mr.. LINN being entitled TO the floor, said he was
very unfortunate in having only lew minutes 10 adj
| dress the Senate each morning he would greatly
| fer 10 have had an hour To devote to H. Senator
i near Never mind, give il in broken doses Really
/ the subject had grown cold that he hardly Knew
I where he left on ; but Whiggeiy such an octgn
| of IncongruIiies he could plunge IN any whore AMI
catch something. In one dive he might hurg up To-
the surface aboltlonst and State Rights W iG 81
another plunge be could bring NJ W ashngian BE,
nesolent Society peace party IN war, and
party in peace short there could be difficulty
4 IN placing 10 Juxtaposon the widest extremes he
said the w hg party had not only cheated the Demo
crazy out OF power but had absolutely cheated them out
OF their very name, while from their composition they
despised the name they had stolen. He had often
heard them In private circles express contempt fur the
democracy This party had only been false to
others, but untrue to itself In the defeats il had
/ sustained, it became broken and dsprlcd, and wts
! held together by the energy of one Yet what
| did II do He would read letter mich had fallen
into has hands evidence of their want of graft
tude TO the man 1om whose ndomitabe spirit they
were indebted almost for their very par
" Here MIR. LlSN read letter which had been
confidently circulated little while before the noni-
nation in Harrisburg giving reasons why Mr. CLAY
ought not 10 be nominated &c The morning hour
having expired, Mr. LlSN gave way.
The Senate then proceeded TO the discussion Of The
special order being the bill incorporate the subscri.
bers to the Fiscal Bank of the United States
! Mr.. WOODBURY. moved To amend the bill BY
inserting proviso prohibiting directors s,ockhoI
ders from making any donations,
Mr.. CLAY presumed the Senator from n Hamp-
shire had IN view some exercise of his gratuitous
power IN the late bank There objection 10
the amendment only that ii went little toosr. He
could conceive of many cases where the exercise OF
u such power might he Beneficial He asked ii gen
tlemen we're prepared to corporation and de-
| prye II OF vitality in short, making What Lord
Coke, designated corporation, body without sou'
he would move so TO amend II 10 prohibit Donations
| being made TO officers OF the banks.
/ Mr. WOODBURY. avowed his object 10 be that
directors should not Apply the funds of Government 10
any purposes, nor that donations should be made by
the stockholders TO officers of the bank There might
be cases 10 call for the exercise of this power but
cry such case should be lard before the stockholders
and he would not allow the directors to act
/ MIR. CLAY said II was impossible TO conceive OF
all the cases in human life where there might be calls
Tor the exercise OF this power Al officer OF the in
sutution, for instance with large family might acci-
dentay be killed In his very endeavors to save the
building from fire. and vet according the provision
OF the Senator from New Hampshire, enough TO save
his family from starvation could not be granted until
the annual meeting OF the stockholders There were
many other cases which might be ced to show the ne
cessity otieasing the power where it WIS yprohib
| Ting donations 10 officers Of the institution
Mr. WOODBURY. would ask if the end of the
Treasury should fall down and kill every man would
the officers have right to put their hands into the
treasury 10 relieve the families of persons so killed.
II was very well TO be charitable with money
( nut not with that belonging to the people He was
unwilling to have the public Treasury ut under the
I Surveillance of the directors stockholders
/ Mr.. HENDERSON would vote Tor the amendment
10 the amendment but then he should against the
whole Tie held that the stock holders had no right
under any circumstances, 10 give away the funds Of
/ the institution
! MIR. LINN desired to reach the evil cf,c,ualy. It
was wei known that donations had been made for in
ternal lmpoy enients and for many other thinps rs
the late Bank There might be cases where directors
ana stockholders would be justified hu, if you gave
them al ALL II vas certain To INTO abuse parllcu
! larry where Bank concerned
he question vas then taken on Mr. Claws amend
I nd al
/ fEAS.-Messrs Archer Barrow, Bates Bayard
/ Chohte Clay, OF Kentucky, CLAYTON Dixon Exams
\ Henderson, Huntington, Kerr. Manrum Nerrlck
Miller, Morehead, Phelps Porter, Prentss. Preston,
Rives Simmons, Smnh, OF Indian, II .llnsdce
White, Woodbndge-26.
4 NAYS Mes,rs Allen, Bentos Calboun CI.v
OF Alabama Cuthbert, Fulton King, Linn. McRob
erts Mou'on, Nicholson, Pierce, Sever, smith Of
Connecticut; Sturgeon, Tappan, Walker willam..
4 Woodbury., Wright, loung-2l
Mr. CLAY then moved 10 strike out the s,ock,oii
ers from the amendment, thus leaving them the pow
10 act.
\ Mr. CALHOUN opposed the motion on ! he ground
'hat one-'hrd OF the money was public properly and
that the power should not be given under any CIR
cumstances 10 take away the public treasure
/ Mr. BENTON said that the bank wa. The Treosn.
/ ry OF the Government add besides the ten millions
whlch the government were to borrow Ia put into il
there was the revenue also. The public money should
i he separated from the private The rub u funds
should not he considered MS the private ,,roncrtv nj
the directors or stockholders, and undel their dnec.
ton,
Il Mr. WOODBURY. said the prohibition to officer.
OF the bank would not reach the evil The late hank
mad made donations to hose companies 10 internal M.
proSenents, and to police officers Now, these we're
Objects for which Congress could not appropriate the
puhhc money, and yet the stockholders here would
have the right to do it, Besides If m. yi.ws ~ ihe
Senator from Mississippi did prevail the money of
the public might be liable to be voted away by foreign
stockholders
1sv