Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1841-07-17
cor EGEES

in TIE decision of the Bank bill, ard has progress
cd far, to express its opinion upon the Branch
question, having rejected the amendment proPos-
ed by Mr.. Rives (requiring the consent OF the
States to the establishment Of branches therein)
by vote Of 80 nays to 10 yeas Oh the yeas,
eight were Wings and two oPpostionsts. VI me
NAYS twenty were Wigs, and eighteen oPPosi-
ton members" On the Sih inst. tho discussion
Of other features Of the bill continued
Mr. Walker moved to amend ihs 18th funda-
mental rule by requiring periodical reports OF the
notes discoun ted, with tho names of parties. and
an other matters connected with the financial az
fairs of the Bank. He stated that this PROPOSE
ton was intended to embrace the substantial por-
tons OF an amendment offered some days ago by
his colleague (Mr. Henderson, ard emitting
what had been regarded by Senators as objection
able Tho Government. had TO furnish great por-
ton OF the capital, and il proper that Con-
press should have before them tho most minute
information from the best source. Expecting no
such call as is required by this amendment. the OIL
ficcrs Of the Bank would not be suihcIentiy care
fol against the practices which had caused so much
default and distress in tho country. He asked
for the ayes and noes which were ordered.
Mr.. King suggested a change 80 as to require
the pubIica ton Of the information IN some pub.
lie newspaper as the more convenient and eftec-
tive course. He did not believe that any solvent
man would object to disclosure Of his name IN
connection with any transaction 10 which he was
party.
Mr. Clay was very sorry to be obliged TO vote
against this proposition He wished to know
when this bill would be disposed OF, If amendments
were thus to be pressed over and over again. He
was n friend Of publicity, and believed that too
much mystery had marked the course Of the late
Bank Of the United States. The principles of
publicity ives progressing, but he suggested 10
gentlemen the propriety Of going on gradually,
and not rushing a, once from one extreme to the
other. The reports required by the amendment
would fill twenty volumes, and what ii printing
Job would hero be got up. He thought the bill
contained all provision on this subject which was
necessary.
Mr.. Benton said he had marked the progress of
publicity in this Chamber. 1t was at first the
practice to sit in legislative sessions, TO sit with
closed doors. Now the people allowed TO
come into the galleries to witness the legislative
proceedings, and were only excluded when Exc
cutive business was going on. Three years hence
he believed the practice OF bank directors sitting
in a parlor, trausacting business, would be con-
sidered singular spectacle we now regard
the obsolete practice of sitting here legislative
business with closed doors. II is not the mere
trader who is injured by the secrecy, but il is
the whole country. There is tyranny afro
cious that Of the bank parlor.
Mr.. B. said he wished TO every thing
brought before the public, and he was astonish-
cd that any o,juu,ion should be made. Some OBJ
lection made TO the expense of printing.
Mr.. Walker had calculated it. 1t could not ex
coed ono hundred dollars.
Mr.. Benton. The easiest way will be to lay
The book on the counter every morning, and he
moved to amend the proposition by adding this
provision to tho close Of the amendment.
Mr. Walker, without accepting this mod
fcaton expressed his intention TO vote in favor of
the motion
Mr. CLAW, of Alabama, regarded this as the
most important part of the bill. He referred to
the secrecy with which the loans made to
Webb and Noah; and asked if any one believed
that Mr.. Bidde would have made these loans had
the affairs of the Bank been at that time open to
the public. He contended that the history OF ev
cry bank in the country would show tho necessi-
~ of publicity, if we expected TO preserve the in
tegrity of these institutions. lie went over the
facts connected with the appointment OF the bank |
committee, and the course taken by the Bank in
reference to that committee. He then adverted 1
to the recent transactions in the United States /
Bank, over which such veil of mystery had !
been flung, that even the stockholders could not
find out what had been done with tho eight hun
dred thousand dollars for which no vouchers could
be found
Mr.. Calhoun would vote for this amendment
and every other, the object of which was light.
He desired to SEQ all the operations of the direc-
tors exposed to the public eye. 1t known
that they might issue orders to expand in one
section and to contract in another. He wished
these orders to be made public. Information full
and speedy ought to be communicated to the peo-
pie.
Mr.. Allen considered this measure which
would place the farms and property of all the ag-
rIcutural interests. not the disposal of the Gov
,rnmenf, but of n Corporation. Simplicity and
publicity were requisite 10 all matters which reg
ilate tho currency aud the price Of labor. Your
Courts are compelled 10 sit with open doors, and
domestic circnms tances deba led in open Court
md before the world In his State, money loan
ID out by individuals had been subjected taxa
Vote down these said A. r
Allen, and we will make the earth quake under |
'ou from an indignant people. Popular sovereign
y and publicity we're at the bottom of the demo ,
ratio party. He concluded with stating tina, he {
would emoody in distinct proposition the sub /
lance of what had fallen from Mr. Calhoun. I
Mr.. Benton read n statement of the loans made v
> Il. Bldde and Co. and the amount of notes re- b
acted. The remedy against a repetition of this 4
, publicity. The Offering book must be kept o. /,
en-.