Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-07-05

I The opiriOns OF the nation, Mr. Rlves thought,
were pretty equally divided upon the question, but
| II must still be considered as unsettled. Wheoo II
could be avoided, therefore he IN hopes tina, no
attempt would have been made approach this dis
| puted ground. lie denounced abstract asSsrtisns
OF power as always dangerous, and nsiNneed our re-
| volutonary struggle ms having commenced IN con-
sequence of such sn abstract assertion Of power on
the part OF Groat Britain, the effect Of which had
been so eOquently depicted by Burke.
The assertion Of power in the present case, he
considered rs pregnant with danger to the fate OF
the measure regarding il the best evidence OF the
excellence otgovernmcni, that 1t was abe 10 per
form its functions without any percepube resort TO
power. He had worded his amendment that IT
the States refused to sdmI branches, they could It
refuse to admit agencies without violating the Judi
cal decisions by which that question had been in
cont6subly settled. lie recalled the recollection OF
Mr. Cay to the declaration made by MIR Clinton
from the chair Of the Senate in corrOboaon OF this
maxim.
In reference to tho late Bank OF the U. States, he
expressed his belief that ITS history would disclose
moro evil than good. Tie acknowledged the vaua
ble improvements IN this bill made 10y the Senator
from Kentucky, especially in cutting of all possible
connection between the members OF Congress and
the Bank, and also IN prohibiting any facilities 10 its
officers Another valuable improvement WAS that
which prohibited the renewal OF notes. Let the IN
sutuIion be planted on sround which is unquesllon-
ably lnconieStIble according 10 the plan Of the Sc
cretory, yield TO state PRIDE and you would build 1t
up on a foundation not to be shaken.
MI Cl4A cNpTCSsgu regret tnat MS tTicnd rom
Virginia thought II his duty 10 offer this proposition.
Although he acquitted his friend Of such intention,
he saw that nothing but mischief could result from
II. He would not 90 into elaborate reply al pre-.
sent, hut would merely add little to the argument
which nc had furnished IN has report. Thee are
about - III the Senate who are in favor OF the ex-
lsiencc OF po~e 10 establish branches, while the
gentleman from Virginia and his friend and col
! league opposed 10 this power. Vet his friend
wished the - to come over To the , instead OF the
. % IN she And htS he hf~h
/ he asked. IL question of power or no power
constitulonali'y or unconstilutonahty-Gan or no
bauk-and any concession must be total rclIn-
quishment of the power.
Mr. Clay pledged himself TO bring this specific
question u p foe decision az the next session. He
would have done IL now, had he not considered this
an extraordinary session FOX special purposes. The
very feature which provides the power of the bank
to perform the main functions OF a bank of the
District is the very part which receives all the APP
probation of the Hon. Senator. \ bank depends
not on q name but in its faculties, and here is one
proposed, the name OF which merely exists within
the District, while all its faculties be exercised
IN the States and while the gentleman refuses his
assent to the constitutional right of Congress to
ta6sh a bank nomnaily within the States, he ap
proves the comforting of all the real powers Of Il
bank on an institution operating within the States.
Mr.. Clay ndverted TO the establishment OF
branches necessarily suhisctins these branches
to the jurisdiction Of the States. The clause in the
amendment which speaks OF the wIthl rawal OF the
the doctrine that what cannot be done directly mas
he done indirectly. The highest exercise OF lesis-
lltive power was in penal enactmentS. Now II
there twenty-sIx branches how are you to pun
iSh cmbezzlemenD You place there these branches
and # against the assent OF the States you have no
power 10 punish. The question is one of power or
no power. If we have no power, he had no desire
TO irlfe with the people, 10 try experiment. We
have suffered by rash experiments; and ct the mo-
ment we are congrituatng ourselves on having
reached port OF saiety-comes the Senator from
Virginia with a new experiment.
MIR RIVES-lt is not my scheme. The amend
ment is in the words OF the Secretary Of the Trea-
sury.
Mir CLAY. The gentleman may have the be.
nefl Of this Endorsement. lie must IN this question
| think and argue for himself. He believed that the
States would never give their assent He believed
that the people Of Virginia were themselves abin-
donirg the gtound taken by the Senator II Mr.
| Madison made his memorable declaration in 1914
subsequent legislation had decided still more srong.
| y the Consu,ulonality OF b nix. Although Gen
Jackson was re elected after the veto OF the Bank
many voted for him on his pledge that he would "a
! for n bank. Mr. Van Buren's election was no test
because II depended other questions. AL he
| would say TO the opinion Of the President was
we had reason TO believe that he would 90 with the
| Wing marty on the subject OF a bank.
| He believed the President would act with view
20 the public interest; and should difference arise
1t would not be for The first time. But he asked
was this bank struggle to be eterna2 He appealed
to the Senate to pass the bill. and you vii restore
| tossed and troubled people to peace. ADOPT IN,
! amendment, and you will open the door Of con,
| troyersy, and will find yourselves IN the yestlbue OF
the strife. bank on safer principles could not be
suggested, and he prayed the gentleman TO Withdraw
| his amendmhnL He would not quarrel with him
and if he still continued TO cling to II, he hoped he
would DO il in peace and without intern ping the
| friendly relations between them.
! Mr. RIVES said he was one of the last 10 wish
TO procure any change of opinion in the constitu-
| 1,y50 If TnNnn a 49,
| tory of the amendment The Senator from Ken
lucky had himself called for the plan of the Secre-
tlry by resolution, the res nit Of which had been
the scheme which the Senator had now denounced as
| wild and experimental. We (said Mr.. RI ask
our friends to iorbear from the exercise of a power
while they demand of US to exercise a power which
we consCIentousy believe is not in our possession.
He repeated that ~ least a mOIety of the people
were in favor OF the forhelrince from this power,
and therefore the appeal he had made Tor concession
stood on higher ground.
! MIR Rives despaired OF saying any thing 10 dis
turb the profound convictions or 10 shake the well
/ poised judgment OF the Senator from Kentucky.
/ But he might ask some consideration for the stub
| bonne.s Of his own old fashioned scrUpies. lie
considered that he best sustaining the admins
/ tratDn 10y coming forward with language Of peace
and mpromse.-lfihey should differ on this ques-
ton, they would yet he hoped, be able TO act TO-.
| gether on other questions.
| Mr. PRESTON expressed the hope that the
amendment would be cUncurred in. After the most
mature and solemn dCllberaton he had determined
TO give It his support. He gave it as his opinion
| that the late njmnistra ton was defeated on the
ground OF finance. On that ground the late
/ party htd been expelled from power. The verdict
Of the people had condemned the Sub Treasury.
IL was well understood that the Wing party
would act by the Ins;ru nentl'I'y Of a BinE, and
that they would introduce Bank Of the U. States.
Here we have had plan from the Secretary OF the
/ TrelSury-l Wing Execuilys-and there is "a DIFF.
ference between the Executive and the Legislative
I branches. The Senator from Virginia had propCs.
/ ed the Executive plan IN ipsiSsimis UsTJis.
| Mr.. L. said he was unwilling to enter into any
measure which would produce on interruption Of
/ harmony between the two branches. But he was
not Of the opinion that a Disagreement on this point
with his friends here would have that effect and not
drcldiug this he felt reluctant % 20 against the
project ofthc Secretary. There was general CON
currcncc among the Wing party on most Of the
provisions Of the b.li. Every thing went wei until
this point Of establishing branches WI. touched and
/ then We began 70 split on rock Of distractions
! The Senate then adjourned.
! HOUSE or REPRESENTATIVES.
| The SPEAKER presented a message from the
| President Of The United States, accompanying a
| memorial praying for tho enactment OF a general
/ Bankrupt Law, which was referred 70 the commit
tee on the judiciary.
lie also presented additional papers in relation 10
The contested election in Virginia between Messrs.
Banks and Smith, referred TO the committee on
elections.
Also, Concentration from the Sc~reisyv or
o. o. 10 a r lao Lao