Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1841-07-26

been called for by this House, from the State De-
lpartnent in relation TO the seizure Of American
vessels by British armed cruizcrs, which was laid
on the table and ordered to be printed.
Sendie-Mr Clay reported the loan bill from
the House OF Representatives without amend
Inent, intinniing nj the same timc that the state
OF the Treasury required some speedy action oil
il.
FISCAL BANK.
motion TO attach n ''rpedt proriso," to the
BILL brought forward todny by Mr. Tappan Of
Ohio, WINS supported by an elaborate speech of
more than one hour in length. lie withdrew this
amendment u, the suggestion of Mr. Buchanan,
I(who entirely conceded in It's principles) TO be Of
tcred again when all the other amendments had
been gone through.
THURSDAY, July Is.
The Senate went into executive session this
morning nj the expiration of the first h,ur, and
kept their doors closed till about g =. NJ, when
they adjourned.
i The House has been occupied NIL dry IN talk
ing about the forfcation bll, in committee of the
wholr.
MIR. Mason Of Ohio, made M ahlc speech in
behalf of the bill and very successfully rdirulcd
the inconsistency of the Locos, in resting qui fly
for three years under the nggressons of Briiain-
and then suddenly becoming so irucnlcn and sen
sliiNc an the snhlcct-while they at the same time
refused TO spend dollar for putting the nation IN
coudilion to meet the war with respectable font.
Their clustering reminds one of the old lady who
morning upon no osicnsiblc provocatlop, aud who
replied 10 an astonshcd Querst. as to The cause Of
her lnnenInons that she was CRYING for her aon,
whose death she had PATIENTLY borne for twenty
4rnrs-nnd until she could bear it no longer.
/ The appropriations for for,ificutions M e much
nrgrr than usual, from the fact that they have
I been utterly neglected for the last three years.
Appropriations were made by Congress, but sus-
iPerded 10y President Van Burenl
FRIDAY, July l6.
| tI,o,
pccting bunk and bankrupt law had been pic-
srntd to the Senate. this morning, Mr.. Clay NOV
ed 10 take up the loan hl ut once remarkIng that
there was only $9J00G0 in the treasury three days
ago AMI that the wheels Of government must
stop unless the bill should he passed ut once. to
enable the treasury 10 meet its engagements. lie
called upon the present opposition 10 remember
the readiness whirh the Wings had always cvinc.
ed 10 afford the necessary supplies to sustain the
credit q! .,,v fnrmer administration, md hoped
that no unnecessary delay would he occasioned in
supply ing the necessities of the present admins
irniions Objections were nlaie from the other
dc Of the house, not only to taking up the sub
I"r, hut to The form of the proposed loan, and The
amount proposed to he borrowed, but the mo
ton finally prevailed after good deal of desul-
tory debate, and the bill WINS inken up. Mr. Clay
briefly and iorcib'y exposed the impoverished
condition of The treasury, ard urged the necessity
ct making Immediate provision for lis relief
f Tho amount of appropriations falling upon tho
). present yenr. was very senshly Increased Ivy The
suspension Of different branches thereof by The
last administration. The form oi the lonn was
= better than tic treasury note system, ms being
y more open and manly at once, uud convenient to
the Secretary, who would know better what lie
could depend upon. Under the former plan he
Y could never draw upon subordinate financial Of
$ ficer without iicnrring the risk Of having his
Il draft dsIUnored, from The fact that the funds bad
n been exhausted by the redemption of these treas
y urv notes. Tic did not agree with the English
o Statesman who snid that public debt was pub
r lie bessing--Ic was opposed, both as public
: man and an individual, to the mourning Of debit
: Mr. Calhoun said The Inconvenience of the treas
= ury note system was an argument in lis favor, for
i that embarrassment would prevent the unnecessary
l. adoption of the system; hut lie RETAINED, per-
liaps you mny nngine rather inconsistently, from
O moving TO amend the bill by imposing some such
4 beneficial drug. MIR. Walker said he very much
preferred lheresent plan tina, of using ireasu-
s ry notes. Mr.. Sewer en:ed that any thing above
8 S1,OOO,OOO was needed. was glad to see he had
y me grace to admit any part Of the necessity. Mr..
n king expressed himself in favor of loan TO
us great an amount as should he necessary, 10 he
e redeemed 10y means of moderate duty, which
/ should Incidentally afford protection to our do
O mesiic manufacturers ms well MS TO some of our
Il agricultural Interests. Mr.. Calhoun said some
: thln% ut the danger Of this System of measures
:, 10 the "taS paying" people Of the Somh, and ask
ed why the extra session had been called, and why
: The promised relief had not been afforded. Mr..
j. Clay, III considerable excitement, replied with
e gren energy and commanding eloqucnce. The
It cause OF the extra session, he said, the
II which had produced the revolution last Noycm-
= bert was to be found in The distress Ct
@ ragged and oppressed people, who cried from all
quarters for immediate relief from the cml,arrass-
= meus into which the disastrous policy of the laic
: administration had plunged them. This relief
q was not to he afforded in day--hey must have
time 10 put such measures into operation rs would
4 IL uS yynsn lint,
: the next session. lie intended TO move to abolish
the useless aud expensive branch minis which the
= Senator had been The principal means of fasten-
h ing upon the country. We were all tax-payng
people, aud he believed that three times gren,er
= amount OF taxes WAS paid per capita in the free
States than in South Carolina. Such taxes rs the
genieIiInn alluded TO, we're pnid 10y the CONSUMERS
Il Of dnable articles, and the average amount of
J. consumption was far greater in free Than in n
h slave-loliins State, the slaves being very small
consumers of imported products. MIR. Wright
J.. moved TO amend the bill Ivy inserting n new sec
r ton providing that the act should not I've
cp to auhorisc the borrowing of any greater i
r mount than should be- requisite to reach the
: rent mud ordinary expenses o.! The government, and
: that only after all the mouies derived from the
n customary sources of revenue, including the pro
y ceeas Of the public lands should have hcen appli-
n ed 10 The payment of such ordinary expenses.
n Another part of the amendment forbade the TAX
ing up OF any treasury notes before maturity.
= Mr. CIny rau he had no Objection 10 Tie n
!. menhmrni, it the Senator would insert in il n
n clause limiiing The prohibition TO the redemption
n of notes by stock herring equal interest. Mr..
d Wright AZ first assenicd TO ihis--but afterwards
!, Withdrew his CONSENT when it was objected to by
Il his accommodating hrsiLren.
MIR. Clny moved 10 strike out NIL that part Of il
J. which relnted 10 treasury notes, upon which
h good denl of debate of no very Interesting
u character. The motion finally prevailed. Ayes
i. 27--noes o.
{, This amendment furnished sufficient provoca-
4, ton Tor variety of speeches, which occupied tie
If time I'LL II herane necessary to go into executive
: session. Which. however, was not done until the
Y vote bad been taken upon its acceptance. II WIS