Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1841-07-05

Bank" was as good, perhaps, as could I've
devised. Before closing his remarks he would
notice the arguments urged by The Senator from
New York, (Mr. Wrightl in support of his posi-.
non mat bank favored the contraction of a ma
'Iona debt. lie would reply by referring to few
well known facts. When the late bank went Into
operation the public debt amounted to Sl20000-
600. When its charter expired. that debt had
ceased TO exist and from the date of the former
event commenced the accumulation of another
debt. Where was then the power of coercion
which the bank wns said to hold over the Govern
nent in this respect and how had that power dis
played itself when the last chatter was refused /?
II was made optional with the head Of the Treas
ury To pay for the Government shares either with
tie bonds nj 5 per cent. redeenlabe after fifteen
! years, or with the proceeds of those bonds lie
did not doubt that the latter would command or
| d per cent. advance here or in Europe If they
should be sent to Europe, the result would be the
addition of Sl0,0OO,000 to the specie Of the coun-
try
| lie had learned from the most respectable sour
ices, mat there was Il vast amount Of capital now
Withheld from circulation, on account of the diff
rul,y OF obtaining safe and profitable investments
| MS dormant, capul would speedily I've put into
circulation, mud thus the money means of the
country would be at once considerably augment
cd Capitalists were only waiting for an insu-
ton with good aud safe charter to induce them
to come forward at once wlh their subscriptions
lie said ut the that he would not argue the
people wantod it--denanded Unexpected il at
tlier hands, WAS ncontGsihe. Not only tho
w hlgs were anxious for it, but many Of the op-
ponen,s of the Administration also. The latter
were divided INTO two clnsses,-those who boldly
avowed their pre,lilcctoE for II Bark and those
who wanted il, but restrained from declaring
their sentiments from tic fear OF uf1cnIing or tho
dislike OF abandoning their party. He concluded
hy expressing his fervent hope thai the friends Of
The principal measure would not divide upon tie
minor delas-for himself he was perfectly ready
To mike every clnccssen thnt did no, involve the
vital interests Of the bill
Mr.. Calhoun said that it might he the case ia
some parts OF the country, that the prevailing SEN
tment ON both sides vas in favor Of II bank--but
Tie reverse was true at the Southland to Judge
rem one of the oldest and most respectful e ia.
pers oil the Administration party THE Boston
Conrier) there division of opinion among
the Wings of the North.
Mr. Mnngttn said the remarks Of the Senator
from Kentucky would hold true as far as North
Carolina was concerned, ard he called upon his
colleague to state whether this opinion did not
coincide with his own.
:, Mr.. Graham said it dill
Mr.. Calhoun said he wished to reply TO the re
. unrks of the Senator from Kentucky and moved
4 TO postpone the subject till tomorrow.
q MIR. Burhanan and others expressed strong de-
% sire for this course, hut Mr.. Clay said he could
= not consent TO such Il postponcnent, and he was
- very sorry for having made speech it this was to
a he the result. But merciful counsels prevailed
- upon taking the question, and the bill was post
. poned Till tomorrow by vote of IS to b.
~ Mr.. Smith of indnna reported the distribution
i bill, with mendments-provling for a pern,an-
ent prescription system in favor of actual settlers
q and the amendments were ordered to be printed
The bill for the relief of Mrs. Harrison was ia ..
ken NJ, and the amendment which provides for
Il the deduction Of all sums previously drawn from
=, the treasury by the representatives OF Gen. Uarr
, son, was adopted.
Il MIR. Benton then made long speech ognnst
II the bill, and diversified it's barrenness by reading
A. from some book long list OF pensions granted by
,f the British Government lie concluded 10y NOV
- ing the recommiinent Of the bill, with insruc-
4 lions to the committee to report the reasons upon
- which the grant WINS founded.
~ This was opposed by Messrs. Bayard, Berriep,
.r Archer and Bates. The latter gentleman dstin-
r. gnslied himself by making n very lorciblc and
=. appropriate argument in few words, an example
l. worthy The highest commentator in this wordy
d, generation. Mr.. Walker, Of Miss also did himself
honor, by acting like all independent high minded
"a man, ANA not like n partizan lie advocated the
he bill very strenuouSly and ably, and this time he
NJ was quite moderate in his use of words. hone
a. he will bye and bye feel that they are TOO good
m things to be wasted.
r.. Alessrs. Linn, Woodbury., King and Calhoun
il took up the cudgels in behalf OF the great chief oil
No the ancient and prosperous house of Ilumbug
a. Mr.. Archer inquired of Mr.. Calhoun how he
an could reconcile his squeamishLeSs in this matter
nj with the vote which he gave in favor of the do
- nation to Caracas, and which he even now ms.
O. . titled.
pd Mr. Calhoun gave an explanation which could
il not distinctly hear, and which was not supposed
H. to PROFOUND very lenable distinction The mo.
h. lion to recOmnt WAS lost-ayes l6 noes 3O-apt
- the bili passed to It's third reading, ut late hour.
~ House.--Nlr. Fillmore, from the committee Of
H. Ways and Means, reported bill to authorize the
,s government 10 borrow $l200000O
re Mr. w. T.. johnson, from the Committee on
Of Public Lands again reported the Distribution
he Bill, including the pre-emption feature
n And these Two bills, with the Secretnry's plan
IN. OF Fiscal Bank were referred 10 The Committee
,r. of the Whole on the State of the Union.
n, On motion of MIR. Roosevelt, the Committee
mi on the Judiciary were ordered TO consider the ex
ms pedency Of including Corporations in the gener.
m al system Of bankruptcy.
nj a resolution offered by Mr.. Ingerso on Mon
n, day, requesting the President communicate GER
he ian information respecting American prisoners
IN Van Diemah's Land, was then taken up, and il.
's originator favored The House with Il long speech
r.. upon the Mcleod affnr, which he found some
"a, means of bringing into the discussion. or course
no he abused Mr. Webster, and said he did il all from
If patriotism, and without any mixture Of party mo
nv. lives.
~ MIR. Cushing commenced reply 10 him, ant
nh carried the into Africa, by briefly skecninl
~, the conduct of The late Administration since 1929
an. when MIR. van Dufeh began MS system OF con
m cesSion to Great Britain. lie said he would no
~ inpuie motives 10 the gentleman from Pa. but Al
~ far as he could judge from the course Of the On
nix position in Congress. aud from the tone of III,
h. newspapers that side, il was the design of tn,
nv enemies OF the Administration to inspire as far
Of pnssh!e, war spirit, and TO excite the jealousy o
a., the people against Great Britain tina, they nigh
cir be persuaded to rebel against the pacific policy
IL The Government. But he warned them that &c
,r drive the Administration into Il war, would be Il
fix the roots OF lis power too deeply for the pres
al. eut generation TO Them uporn. lie deprecat
,Ll ed such an event bu; such and so rnnous Il
ie- te"iseNes ""e '"0 """' "'I VI ',!ef measures