Southern pioneer, and Carroll, Choctaw and Tallahatchie Counties advertiser. (Carrollton, Miss.) 1840-1842, 1841-07-03

amend the said bill by inserting provision to
repeal the act of 1886.
Mr. Berrien said he was not yesterday sat-
isfied with either of the alternatives presented.
If the amendment of the Senator from Ken.
lucky prevailed, we should be thrown back on
the act of 1889. 1t would then be in the
power of the Executive agent to re-establish
the sub-Treasury, stripped of its Agents--inl
fact the public money would be placed at the
unrestrained discretion of the Executive agent.
He regarded this question as set at rest by the
emphatic decision of the American people,
The proposition of the Senator from South
Carolina would have left US under the opera
ton of the act of 1886, and to this he also
had an objection. He had desired time to ex-
anime the subject.
He then took brief view of the arguments
| advanced yesterday on both sides, and ex-
pressed himself dissatisfied with the result
On examining the act of 1886 be found that
the first section provided that the Secretary
of the Treasury might select bank, but in
case no proper bank could be found in one
State, he might 90 to another State 10 find a
bank legally qualified, which might be entitled
branch to receive the Deposites. He tho't
the range of selection might be enlarged. If
the Senate should leave the law of 1916 in
operation, it might be SO safely left with the
modification of the Senator from South Caro-
lima. But the interval before the establish
ment of some fiscal agent would, he trusted,
be very short. Public opinion demanded the
repeal of the sub-Treasury Act, and he hoped
the Senate would not be disposed to disregard
| it.
But he was not willing to have the public
money, even for that short period, under the
control of an Executive agent. He was ready,
however, to have it subject to the law of 1886.
Mr.. Walker of Mississippi would not vote
for the repeal of the sub-Treasury, nor for the
re-establishment of State Bank system, to
which the people of his State were bitterly
opposed. There were but two Senators in
! Mississippi, he said, one for United States
Bank, and the other for the sub-Treasury, but
there were none for the State Banks.
After some further conversation between
Messrs. Clay, Calhoun and Walker, upon the
state of the question, Mr.. Calhoun's amend
ment to Mr.. Clay's amendment was accepted
when both were voted down. So the Senate
refused to repeal the act of 1886, which lief
the bill as Mr. Clay reported it.
i Mr.. Clay said he would not commit himsel
to a fleet of State Banks, and attempt to go or
with them; and he hoped that if the act o
1886 was renewed, much would be done to
make it acceptable to the changed condition o.
the country.
\ A long series of amendments were then
submitted chiefly by Mr.. Benton, which gen.
orally proposed to retain some particular fea-
lures of the SUBJ Treasury act, but they were
all voted down.
When Mr.. Benton proposed specially, and
by name, to forbid deposit of the public
money being made in the Bank of the United
States,
Mr.. Clay replied that it would be as well to
except any other Bank by name. He had no
idea that the public money would be deposit
ed there, but it was below the dignity of Con-
gress to except that Bank by name. A long
controversy ensued upon this, when the prop
osition was negatived, ayes 90, noes %.
In the centre of the debate, Mr.. Buchanan
said he should obey his instructions, and on
the repeal of the SUBJ Treasury, very reluc-
family vote with the Senator from Kentucky.
The Bill was then reported to the Senate as
amended, and passed-ayes 80, nays l6.
/ When the Senate adjourned.
i One of the arguments used by the Anti.
Bondites is. that the constitution and the