The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-04-08
The CHAIR also made similar statement
Mr. BENTON said that nobody knew, then, "

The CHAIR also made similar statement
Mr. BENTON said that nobody knew, then, what
Mr.. BAYARD (smling) Perhaps the Senator
at the time the vote was taken, attending TO his
private business.
Well take the vote in that way.
Mr.. BAYARD. Certainly, sir, although II will be
contrary TO the order of proceedings.
Mr.. BENTON. Iwaiye the motion, slr-lwaive
the motion
On the motion of Mr.. KING, the bill reimbursing
the State of Alabama for money expended by her IN
calling out militia for the suppression OF Indian nos
tltes in 1885 and 1885, was taken up as IN Commit,
tee OF the Whole, and was subsequently engrossed
for third reading
The following bills were read third time and
passed, viz
The bill to confirm certain entries Of land in the
State Of Louisiana, and authorizing patents to issue
for the same
The bill for the relief of John Nix;
The bill for the relief of Enoch Kidder and
The bill authorizing the REIMBURSEMENT of the six
eenth sections granted for the of schools and the
entry flands in lieu thereof
THE LOAN BILL.
The Senate resumed the consideration of the Loan
bll.he question pending being on the amendmen nv
Of Mr. Walker, pedgng the proceeds OF the sales oil
the public lands, distinctly separately, and involaoy
for the payment of the interest and the redemption OF
the principal of the stock heretofore issued under the
Loan law of last session. and the stock proposed 70 DO
issued in pursuance of the bill now before the senate
and suspending the operation Of the Distribution act
for that purpose.
Mr.. EVANS gave notice that when the pending
amendment shall have been disposed Of he would SUI
mt the following amendment, Viz:
Strike out all after the enacting clause in the fourth
section, and insert
" That the Secretary Of the Treasury be, and he
hereby is auh horned TO dispose of the stock hereafter
be issued any part thereof at its PAL value; but
part thereof shall be disposed of under par until
the been advertised a reasonable time, and
proposals for subscription 10 said loan nvited anr the
Secretary is hereby authorized to accept such
proposals. If he deem it for the interest of the United
States do shall offer the highest prcesfor said
stock any part thereof or TO appoint an agent or
agents. provided in the tnird section Ut the act ap
proved July 81 lS4l, be Ell, negotiate the
same; provided that stock shall be disguised OF at
lower than the highest price offered In said pro-
| posas.
Mr.. BUCHANAN addressed the Senate, and ex-
pressed the opinion that they could not on reasona-
bic procure the money proposed to be borrowed
by this BILL without making the pledge spec hed IN me
amendment of the Senator from Mississippi, Which
he hoped would be adopted In the Course OF MS re-
marks, he said that the chances of war between this
country and Great Britain about equal and that,
IN consideration Of their mutual interests, would
be act of folly unsurpassed for the two
nations TO into collision. There were
many questions be adjusted and If all OF them save
one should be settled that one would be cause for
war much the whole; but as an ambassador had
| lately arrived rom England bearing in his hand, 1t
said the olive branch of peace, he would not say
! a word to disturb as far as he concerned the
probability of peaceable negotiation. With regard
| 10 tariff, he in favor OF raising only as much
| revenue from imports as would be necessary 70
| support the Government, but, In raising That re-
venue, he would make far his vote or his voice
extended discrimination in favor of the great COM
merciai agricultural, and manufacturing interests OF
the country, with view TO encourage, assist, and TO
give them incidental protection, as TO render Us IN
| dependent of foreign nations; but TO tariff merely
for the sake of protection he would interpose his
opposition
| Mr. RlVES regarded the amendment as vitality
connected with the honor and credit of the country,
and therefore he felt bound to give to il his earnest
support If the income from the revenue alone were
held out 10 capitalists to the interest and re-
deem the principal of the loan, it would be i'm
possible at the present time to obtain the -
lief which it was proposed to negotiate by the
bill and, without the guarantee, the pledge, In
| the amendment, the Government would not only
suffer in pecuniary point of view, but in Its credit
which would continue for years to come and, as
consequence, the credit of the States would be I'M
paired as well as every branch of industry whether
supported by private or public enterprise.
MIR SIMMONS replied to the Senator from Vir-
gnia and contended that the distribution Of the pro-
ceeds of the public lands among the States would as
sist materially in reestablishing their credit and that
if the imports should be large in future as they had
been for the last four years, twenty-five per cent
with the home valuation, would afford suthciency
of means for carrying on the Government, There
fore, he would vote against the amendment.
| Mr. SMITH, of Connecticut, obtained the noor
] and on his motion
The Senate adjourned.