Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-01-25

0'tans was granted % tho Constitution, was a. any
,ii ,c'ioutott tlat limited o., amount ct bank is-
,ucs. lfi, did this, ;hc eu 90 wnui Ice % efc ue a
Constitutional ins'cld of spurious currency. was
on, % tie truss preserved 10 Congress hy the Con
ututon 20 preserve The stlniard OF value; onc the
way TO 30 - was by Incorporating The amendment
why was TIE nnNer given To com money! Was a.
q cNrort speci' keep the constitutional cured
cy homei For twr reasons, then, he was IN favor
OF the amendment; FIRST because q would keep the
constitutional currency at home; and secondly, be-
cause it would create proper and preferable tax.
Ito would ever go further, end tax all The gold and
silver wares ofihc country.
MIR BENTON said he would accept that as an
amendment Mr. Il. reai an act Of Congress, also,
Of lSlS show that tbs Banks were then taxed IN
al their branches for their hills Of exchange and all.
tic proposed Sut to tax the bank paper ten cents, 10
be increased ten per cent. NJ II. said that he al
'rited il was contrary to the Constitution to RAISE
taxes per So Tor projections but when lard. rs they
were. incident, they were mo- 10 be prevented
Both Houses Of Congress, IN all their acts, had look
ed TO an incidental power Of protec ION. |, VS. the
FIST time th,t was pr"po Cd 10 prevent the eXcr
else OF the Constitution because protection waste be
/ an incident 10 u. Pru;ecto', as IN incident, was
constitution; IS On end unconstitutional.
Mr. BANARD sad nc would have given n silcn,
vote had not tie yeas and neys been called. lie
was very Tree To say that hc had no doubt that Il
would Ice found indiarcns,hc TO cNcrc Sc this tnHug
power wih a view Of rc-u'atin. tbc cuircncv. W c
! had 91t hanks, " th urt circulation of SS6,oOn,
u
/ twenty six 'inns The banks had usurpCd the
4 powers OF tho Federal Govcromont IN controlling
the currency; and, until these powers were restored
| the evi would never be gotrld OF. The banks had
entrusted thcr business To those utterly incapable
oimonoru. ~, oud who hid no interest in The coz.
! porliion and whose Interests opposed TO tho
Stockholders. There was hui one remedy tor this,
and that was 10 hold the sword over these institu
lions. Banks that continued 10 suspend should -
| INTO stare OF liquidation. Ltch,y-sN millions Of
do Itrs n .utfpn and
! ~ It 81 The mos; worthless character. SO tad was
the ey sing state of things that obscure broker
IN Richmond coud draw bal upon an obscure hro-
ker here. md thcs, bills pas cd currency. Even
m this town, unCe- the very eve OF che Government,
she wnrS' of racS passed money and pcrin-uied
che iuac''ons o. currency. SI,h Stsie ot th'n.s
hr b. x pressed h'msc Nt-cnely anxious % rt.l-
edy, Dot he could not do 50 in The torn proposed
by the Se1ltor from Mi ssouri-reyordine rs lie did
TIC rn'n ucrt to &c cut O; oder 1ni nui 81 place.
Nr KING saiu he WAS O posed 10 the amend n,rut
propose by the Senator from Missouri. What, he
lsyc-, was the object ofit1 To put down, as was
said, Temporary evil 10y a violation OF the Consu
tu-i'r Of the United Sia-es. He could not consent
20 this lie thought, r.so, that the amendment was
ont OF plccs, 1n1 appealed TO the mlvcc not % en-
o1r'ass .he oi.. oY pressing It IN VOC. Ia conc'u
son. bee -.'i that he trusted ms fisni would th-
draw ms cmeiiiurn,
Nr BENTON 81 hl-cw his an,eoin,en,-n'si
lds h-lse however as he said, 20 renew 10 she very
h->i mnment new rcscaue bi was introduced into
Oh, Ssna'e' or any other bi. which could properly
bc ur-.cotri.
Mr. WOODBURY. followed, with 1ro. her amend
me0'i zach 20, said he dd nj 5fer Co G-'-v me
bill, Hu- u-ctu-, 10 seemed % bin necessary i Order
20 preserve the public credit. Il IS the p-i-.c
'' our '10e-v 60 mi,n,1in ;1e putlc cre.t .,H
h.zi-ce, and % sc edges Tor i.s payments lie
proposed 30 DO 81 in tbs ti', ~ r..l..-s tie p.5
.t -'n'.n' "h'H h-- occn given o. tsc safes f'r
mess OF f'ta-e' 10 me redemption o. the pub lie
leo'
NJ W. proposed ~ amenjmc1' 20 the 10 .owics
eNr-i
mat besides The eene-ti Tcv--ls rom customs
ne nr c,.7 o' rho sales ot ru.Ic lands ar. hereby
s''.'- --r--c l'' ias REDEEM ION %; ,he Tea
r} H'..a '-s..~ r.-.r '-' prItl.i DE- %. this 1c'
ana s.- ne p7..i s7.e.y 20 t1lt use urt fre
''3 e.-'.e- ~ sad no'e. s.s.' ee o. p 81; .5ef.
l- .' -a.i purpose mo e-ec, tie & { six
'9- IS -ePea c-"
".' - -- .' ''r h''-- lry, nt -Ei
F" .' o.- rae -o7''-t Senator -o won or PEI.
--'- ' .-- Treasury Department tiI- 20 .cy
-'is- q. .af- changed o. r.r' no '.-- w h.L
800 excess ~ expenditure Over
'-' '---'s TO i..r years ir-as--F -1.-s had
- successive y-.-r ICY Hs-
-' arc tlry
s' over -i -.- - % s.r--1l r.1
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$50 SIR o. ,.-
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gong Ir. .T l- aE-
{ '.- --1 f1-- llrl-l- as .
-A-~' Wa ire remedy r.f-
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