Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1841-07-22

called onlnous and crisis.
Mr.. Clay Of Ala. moved 10 amcad ,he
amendment providing that every snspsn-
sion shall be considered ipSO jacio for
Il linre Of charter.
Mr.. Clay Of Kentucky, said that II
violation oG any Of the conditions placed
the Bank in II position to have lis c halier
annuIled, in the regular order by Judicial
manner by sci,e Jacias. lie agreed that
suspension should be, not a forfeiture,
because that is n subject for adj judica-
ton, but violation OF the charter. lie
moved AN amendment TO strike out the
words which related to forfeiture $3.50
iacto, and insert according TO his suggcs-
ton.
Nh. Clay Of Ala. adhered to his own
proposition, ard commended that the IL
mendmem TO the amendment destroyed
his object.
Mr.. Buchanan then expressed hope
that Mr.. Clay of Ala. would accept a
modification such as 10 make il IA cause
Of forfeiture TO be adJudgcd by the Cir
cult Cou'', &c.
This being the amendment Of Mr..
Clay OF Ky, it was agreed to in this
form, ayes 40, nays none.
The question was then taken on the
amendment ns amended, which was a.
greed 10, ayes Al, nays none.
MIR. Clay Of Ala moved to amend the
18th section introducing clause making
II the duty of,he Secretary of The Treas-
ury tn discontinue in case of suspension
the deposits of the public money in the
Bank aud to report The cause to Com
gfcs'.
Mr.. Clay Of Ky. hoped The amend
meni would not be adopted. lie hoped
there would no longer be admitted that a
power existed IN any Secretary to remove
The public deposles after the melancholy
effects which had been produced by The
removal Of the Deposites by General
Jackson, which he regarded as the pa
rent of all the evils which had followed
Mr.. Clay Of Ala. explained his obj bject as
being 10 introduce clause from the De-
posile Act and suggested that it was re-
quircd for the public security.
Mr. Clay Of Ky. then moved TO amend
by inserting u provision that in case of
tho Secretary should at once
report to Congress.
Mr. Clay of Ala. accepted the modi
cation, and the amendment as amended
was agreed to.
Mr.. Clay Of Ala. moved to amend
The 18th section by striking out the PEN
atty of twelve, aud inserting twenty-five
per cent. in case Of suspension.
Mr. Sewer hoped the amend mcni
would be adopted, as twelve per cen,
was no interest.
MIR. Simmons said Capitalists in the
North could not get six per cent.
The question was then taken on the
amendment, aud decided, in the negative
ayes 10, noes 25.
Several ether amendments were offer
ed, which were rot adopted.
The act making an appropriation for
Naval Ordnance, Stores, SC. was read
a first aud second time, and then the
Senate adjourned.
ln the lIouaE, Mr.. Grcig, Mr.. Hunt,
MIR. Young, MIR. Browne and others,
PRESENTED petitions for the enactment Of
/ Banklup, Law, aud for the establish
nen, OF National Bank.
Mr.. Wise then called mp the bill pro-
'iding for the purchase Of Ordnance,
Ordnance Stores, Sc, which appropr-
ltes 5000, 900, which was engrosscd, aud
inaIly passed.
The House then resolved itself iGto.
Committee Of The whole, Mr.. GIlmer in
he Chair
FoRriricArIoN BILL.
The debate Was continued by Mcssts. !
lalstead, Jones, Morgan aud Randall.
At three o'clock the Committee rose
md the House adjourned.
In SENATE, Thursday, July l5,--Mr.
'almadge presented petitions in favor
# IA General Bankrupt Law.
Tho Senate then resumed the con
Iteration of the resolution offered by
!lr. Buchanan calling for Il list Of reno
als from Office since March, l84I.
The question was thec taken on inc .
offered by Mr.. Mangum,
NV ~ " uS Nv u w.
The resolution was then passed over
y general consent.
Mr.. Clay expressed wish that The
'cnatc would take up the Loan Bill
lie stated that there would be expended !
his year twenty-five millions of dollars
two millions monih-and there is
My about 100000 in hand, enough
My for fortnight. We ought to act
n the bill at once, as il viii require
ONE time TO make the loan. If there be
ny objection to taking i, up now, he
ou!d give notice that he would move TO
axe 1t up az soon rs the Senate should
ct through It's executive business.
Mr.. Calhoun said he would suggest,
nat bill he passed authorizing an Issue
{ Treasury Notes. |,
Mr.. Clay said we were told some time
70, that we should he far ahead of the
iousc. Vow the Il ousc is ireading ON
ur heels, and in n few days the Senate
'ill have all the impol,an, bills on our
able. The cause is plain; The minority
ovcrns the business OF the Senate. Il
MIR. Calhoun said the house had rot
head by abridging the freedom of
rccch.