The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1841-10-02

! The freSidentexpressed his regret that
he had not used the words Shank of dis
count and dcposite," in his late Message,
so that the distinction he now took might
be clearly inferred from that message and
he could not then be charged with incon-
sisency. Mr.. BADGER said he thought
nothing would have been gained BY TIC
use of the terms shank OF discoun and
dePosle" in his message; for. as to the
charge of Inconsistency, it might, and
probably would, be made against him for
party effect, if he sanctioned the bill then
| proposed by him, lnasmuch as dealing in
or buying bills of exchange would be
diScounting, and to that extent mako it
bank of discount.
Then all the material points appeared
to be disposed of, and the members of this
Cabinet present had expressed their Aecid-
ed appreciation of the plan the President
has suggested, he said that, after all, he
would not sanction bank in the form
just agreed upon, if he supposed that it
would be made the groundwork or basis
Of bank with all the powers of the late
Bank of the United States He never
would give his sanction to the power of
local discount. He feared that, at the
next or succeeding session OF Congress,
the Wings would be bringing forward
amendments ENGRAVING this power upon
any charter he might now approve; and
he appealed to HE Cabinet to know if
they would stand by him and nse Their
influence in preventing any such move
mens while his administration lasled.--
Mr.. WEBSTER and others gave him
all proper assurances upon this point
The President thought capital al
fifteen millions Of dollars would be sulfi-
cient,
Anamc, he said, was important, What
should it be2 Fiscal Institute would do.
1t was objected to, and the name of Fiscal
Bank preferred by member of the Csbi-
net. He replied that there was e great
deal in a name, and he did not wish
the word bank to appear in the bill.
The President then inquired if he was
understood He said there must be NO
misunderstanding Of what he proposed tc
do Addressing himself to Mr.. EWING,
he asked him ifhe thought he understood
his. views fully. Mr.. EwiSu undertook
to recapituate, He understood the Pre-
sidenl to have no objection to bank in
the District Of Columbia, with offices Of
! discoun: and deposte in the States. With
| their assent. The Pres dent interrupted
him abruptly, by saying he did not un-
derstand him at all; he was not willing to
sanction any such bank. understood
his objection to be the power oflocal dis
count. supposed Mr. Ewing intended
to say that he understood the President
had no constitutional objections to such
bank. Mr.. EWING, however, without en-
! planning, went on to say, that he now I'M
derstocd the President to have no oh &c
ton to bark iii the District Of Column
tia, with the power to issue its cwn notes
receive moneys on deposte, with Offices
or agencies in the States having the priv
elege, without their assent, Of dealing in
bills of exchange drawn in one of the
State or Territory and made payable in
another State or Territ DRY of the Union,
and in bills between the United States
| anu lOEclSl DIdlcS VI NdllOllS.
The President said he was then under
stood. He requested Mr.. Hebstcr par
ticularly to communicate with the gen
tlemen who had waited upon him that
morning, and to let them know the con-
illusions to which he had come. lie also
requested Mr.. Ewing to aid in getting the
subject properly before Congress. He
requested that they would take care not
to commit him by what they said to mem
bers of Congress to any intention todic-
tate to Congress. They might express
their confidence and belief that such
bill as had just been agreed upon would
receive his sanction; but it should be as
matter OF reference from his Veto Mes
sage and his general views. He thought
he might request that the measure should
be put into the hands of some friends Of
his own upon whom he could rely. Mr..
SERGEANT was named, and he expressed
himself satisfied that he should have
charge of it. He also expressed wish
to see the bill before it was presented
TO the House, if it could be so man
aged.
iti1n said, addressing myself to Messrs
WEBSTER and EWING, that no time was
to be lost in communicating with gentle-
men of Congress; that there was danger
that Mr.. EwING's bill would be taken up
and reported to the House Immediately
after the bill sent back to the Senate
with the Presidents objections was dis
posed of.
As the members Of the Cabinet rose to
depart, or just before, the President re-
quested Messrs. WEBSTER and EWING, as
they had turned their attention more par
ticuIally to the subject to furnish him
with written arguments upon the points
they had been discussing. He wanted