Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1841-06-18
DmR PRESS
TwENTY-sEvENTH CONGRESS.
IN SENATE.


as possible, plan for such Bank of the Uni
ted States, as should be best adapted for the pur-
poses of the Government
Mr. King would not object to prompt action
on the resolution, if the Senator would modify
his resolution to correspond with the terms Of the
Secretary's Report. That officer speaks OF
fiscal agent, without mentioning Bank.
Mr.. Clay said he had not copy of the report
at hand, but he thought that upon reference to
it, it would be found that the Secretary does
speak Of a Bank.
Mr.. Wright thought the resolution had two
objections on its face. |. 1t conveyed a com
mdndto the Secretary. 2. 1t required Bank
which should be an Incorporation. lie wished
to allow the Secretary more discretion.
Mr.. Rives thought the resolution ambiguous
in its present terms If the object of the Sena-
tor from Kentucky were to obtain such plan
of compromise so as procure fisca agent, free
from constitutional objections, modification of
the terms was desirable. He felt grateful to the
Senator for having introduced 1t.
Mr.. Clay wished that if Senators wished for
notifications they would introduce amend
ments.
Mr. Buchanan was very anxious to get view
of this Fiscal Agent SO much talked about
The political millennium was about approaching.
The leopard was to lie down with the lamb. If
such an agency were to be created--if i, was to
discount notes, ne cared not ny what name II
was called, nor whether it was located in the
District Of Columbia, or in Wall-street, New
York, it would be bank. lie wished for the
l,;nr of no amendment ovnoc,oJ from tho
Senator from Virginia.
MIR. Rves introduced his ancn'linent strlklng
out the words "a United States Bank" and in
sertng It" such Fiscal Agent as shall be best
adapted to avoid all constitutional objections,
produce the happest results, and confer lasting
benefits on the country
Mr.. Clay would not object to the amendment,
n mipht read "a Bank, or Fiscal Agent &C."
Mr.. Riyes consented in shirt of concession.
H. pon,on vol, conn, ro,r.rle ,nnro,,;nor of
,,o . .nnud'non, + oosscd ,hon nrarntin,onsIv
A. Clov nroson,ed series of rosoutions.
,,a,in,~ ladule Of subjects r,,per to be taken
'',. .,nn i;e Should ask for tbcir nrin,ing
,.."1-., ,.,,, rr,nv 1eris;v, action nnon tho
81.
:, ..l,.....,o-o ,lo ros,,r,;,,,.
;, =, H.. S. Il.
avn. Slim r fnr'' &C. -, business o,"h, io he
irs, ,.i bu,s j., Of an inportsn, or ur
ge- rture n,a osed to have influenced the
&. 'ru l;lrr 80! Congress or such as that
81 ~, .p~"'.;..'' % IT, might be naturally detrinen-
" nars ,s tho on;rion of H.. s.ns,.
- q s,..ccts ought first, if not excll,
49,. Is the deliberations OF Congress at the
- sion yiz;
* repeal OF the Sub lreasury.
ne psdnIe .nd Of u. the Gnvsrnrn; 40 w
3Nrhe p,ovisIon of an adequate Revenue for the
Government by the imposition of duties, and inclu-
ding an authority TO contract temporary loan TO COW
the public debt crer'ed oy inc last administration;
-1he We ''' VI ,',e u'u LIE
,na -'"S p''''s' u "'|''"' ''''''p'"''''' ''''''
6.-some modification of the Banking System Of
the District of Columbia, for the benefit of the people
Of Columbia;
Resorea Ihat lseHpeaIen' 10 dlsIpn'e .ne eail,
p,udsH 10 90 Of 50 es to avoid
both Houses acting the same subJec, at the same
time.
After some discussion,the resolutions were al
lowed to lie on the table.
The Chair announced the order OF the day to
be the election of Secretary of the Senate,
and Sergeant-at-arms, and Doorkeeper.
On the first ballot 43 votes were riycn-
Ashburv Dickens received all the votes but two,
and was declared elected. DR.. Nauln received
one, Blank, one.
On the ballot for Serreant.at- Arms, and
Doorkeeper, AZ votes were given, of which
Edward DYER received 40, and was declared
elected. r. Beall received two
On the ballot for Assistant Door-keeper, for
tv.four votes were given, of which Robert
Beall. received forr,.one, Robert p. Anderson,
two, - Basset one
Mr.. Claws bill for the repeal of the Sub-treas.
ury was taken up on its second reading, in com.
mttee of the whole.
Mr.. CLAY, said he had a word or two only bv
wav of explanation. The first section was a
repeal of the Sub.treasury act In case of that
repeal would come into operation the act of
1850, establishing the Treasury Department, the
resolution of 1916 and the act of 1896, provi-
ding for the Deposit OF Public Moneys in the
State Banks. The second section was proyls-
ion designed to remedy the defects in former Ie-
glslatIon against eihoe"zomeh'
As to the permanent adoption OF the State
Banks as repositories, he supposed that there
was no disposition on either side OF the Senate
to recur to it. Ithad been tried and found i'm
practicable lie had not at first thought it ne
cessary to introduce section repeating the act
of 1886, expecting that this bill would be imme-
diately followed by the creation OF Bank of the
United States, or Fiscal Agent, as some gen.
tlemcn preferred to call it, and as there seemed
TO be some scnsitiveness on that term. lie